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Three veterans join leadership team of Lohum Cleantech – ET Auto

Baua Electric

The company onboarded veteran investor Sachin Maheshwari as Head of Corporate Development, finance leader Nitin Goel as Chief Financial Officer (CFO), and R&D Pioneer Chidambaram Mandan as Vice-President and Head of R&D and Quality Control.

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Vedanta secures 11-year INR 3,900 cr loan from PFC – ET Auto

Baua Electric

Mining conglomerate Vedanta Ltd has secured an 11-year term loan of INR 3,918 crore from Power Finance Corporation Ltd ( PFC ), sources said. The latest financing follows Vedanta group’s takeover of Meenakshi Energy Ltd on December 28 in an NCLT-driven insolvency process.

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Toyota begins collaboration with Grab on ride-hailing service in Southeast Asia; MSPF

Green Car Congress

Toyota Motor Corporation (TMC), Toyota Financial Services Corporation (TFS), Aioi Nissay Dowa Insurance (Aioi) and Grab, Inc. Grab offers the widest range of on-demand transportation services in the most markets in Southeast Asia, with more than 55 million app downloads and more than 1.2 Earlier post.).

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SAIL directors suspended after Lokpal concludes discrepancies in commercial deals – ET Auto

Baua Electric

A company statement said the Steel Ministry suspended V S Chakravarthy, Director (Commercial), and A K Tulsiani, Director (Finance). We are dedicated to uphold the highest standards of corporate governance and ethical conduct.”

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Murugappa Group arm-led JV to invest INR 7,600 cr to build OSAT facility in Gujarat – ET Auto

Baua Electric

New Delhi: CG Power and Industrial Solutions Limited, a part of Tube Investments of India Limited and the Murugappa Group; Renesas Electronics Corporation, a premier supplier of advanced semiconductor solutions; and Stars Microelectronics (Thailand) Public Co. The JV plans to invest INR 7,600 crore in five years. The JV will be 92.3%

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Hyundai, Kia invest additional US$250M in Grab; pilot EV projects

Green Car Congress

Southeast Asia’s leading O2O (online to offline) mobile platform, announced an agreement under which Hyundai Motor Company and Kia Motors Corporation will invest an additional US$250 million into Grab and establish a partnership to pilot EV programs across Southeast Asia. Hyundai Motor Group and Grab Holdings Inc., billion raised.

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Khattar inaugurates electric bus services in Panipat – ET Auto

Baua Electric

Khattar, who also holds the portfolio of finance, in his budget speech for the fiscal year 2023-24 had announced that city bus services would be initiated in nine municipal corporations and Rewari city. According to the statement, the existing city bus services in Gurugram, Manesar, and Faridabad will be expanded.

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