Category — Market Entry

Clean Motion Expects India Largest Market for its Electric Rickshaws

Clean Motion India, a subsidiary of Clean Motion AB, Sweden, rolled out its three-wheeled electric  rickshaw or  “pod” called the Zbee in 2016. Certified in the L5 category by the International Center for Automotive Technology, these electric vehicles are gaining acceptance in India.

Business World interviewed Anil Arora, Country Head, Clean Motion India who shared his insights into the future of this e-vehicle in India:

Arora said that the third generation of this vehicle are used in malls in Gurgaon, and Noida, near Delhi. “We would like to be integrated as a connected electric vehicle for Greenfield smart cities. We will go for subscription-based models and are in talks with five-star hotel management in multiple cities to operate our vehicles. Yes, we do have such plans for South East Asian markets. We are starting our shipment to Nepal and Sri Lanka,” said Arora.

Zbee the elctrical vehicle

Currently most of the 230 components for building this vehicle are imported from Sweden, and the company is localizing the product at their  manufacturing facility at Faridabad in India’s northern state of Haryana. “We are aiming for a 70 percent localization which will enable us to bring down the price of the vehicle. The automotive ancillary industry even for e-vehicles is very good in India,” mentioned Arora.

By 2020 the company aims to have a valuation of $150 million. “The key growth drivers will be widespread expansion and mass acceptance of our products. In fact, India is expected to be the biggest market for us globally,” Arora added.

June 8, 2017   No Comments

Mexico’s Grupo Bimbo Enters India

Mexican company Grupo Bimbo, the world’s biggest baked goods manufacturer acquired a 65 percent stake in Jaipur, Rajasthan-based Ready Roti for an undisclosed amount. The move is a sign of Bimbo’s interest in emerging markets.

Ready Roti manufactures many kinds of breads, buns, pizza bases, as also rotis or Indian bread under the brand name Harvest Gold.

A packet of Ready Roti

Just-Food reports that Ready Roti has four plants and more than 500 workers, and that its annual sales are about $48 million.

 

May 30, 2017   No Comments

CPPIB to Form JV with India’s IndoSpace Realty

Canada Pension Plan Investment Board (CPPIB) plans to invest up to $1.2 billion in a joint venture with Mumbai-based IndoSpace, an industrial real estate-focused investment firm jointly owned by private equity investor Everstone Capital and Maryland-based Realterm Global.

Key Highlights:

  • Canada Pension Plan Investment Board and IndoSpace form IndoSpace Core, a joint venture that will focus on acquiring modern logistics facilities in India.
  • CPPIB has initially committed approximately $500 million to the joint venture and will own a significant majority stake.
  • IndoSpace Core has committed to acquiring 13 well-located industrial and logistics parks totaling approximately 14 million square feet, from current IndoSpace development funds.
  • The venture also has the option to acquire an existing pipeline worth approximately $700 million as well as participate in a future development pipeline.

A warehouse

Andrea Orlandi, Managing Director, Head of Real Estate Investments – Europe, CPPIB, said, “The strong fundamentals underlying the Indian manufacturing and retail sectors and growth in e-commerce, combined with the low stock of high-quality modern industrial real estate in the country, make this a compelling investment opportunity for a long-term investor like CPPIB.

The Canadian fund, which has invested about $3 billion in India since 2010, has been ramping up its India play over the past couple of years. Last month, the Toronto-headquartered fund formed a joint investment platform with Mumbai-based developer The Phoenix Mills Ltd to develop, own and operate retail-led mixed-use developments in India, reports VCCircle.

 

 

 

May 16, 2017   No Comments

UberEats launches in Mumbai

San Francisco-based Uber launched its initial UberEats service in Mumbai, and by the end of this year the company plans to expand this service to six cities in India. The country’s online population is tipped to reach 450 million-465 million people by June 2017, according to a report co-authored by the Internet and Mobile Association of India, bringing with it the potential to connect people to taxis, cars, food and more.

“Mumbai is home to a booming food industry with a vibrant food culture offering both global and local cuisines. The introduction of UberEats in India, with Mumbai as the first city, is a major step in our global expansion and showcases our commitment to the region,” Bhavik Rathod, Head of UberEats India, said.

Uber Eats Food Service

TechCrunch says: Uber has thrown more focus on Eats lately, beyond its ongoing global expansion. Recent updates added tailored recommendations, customizable drop-off directions for drivers and new filtering options, while it also introduced a restaurant management service that helps restaurant partners get actionable insight through data.

 

 

May 15, 2017   No Comments

India’s Infosys to Set Up Tech Center in Indiana

Bangalore, India-based information technology company Infosys announced that it will establish a central Indiana tech center, the first of four facilities it plans to launch as part of a broader expansion in the United States that is projected to create 10,000 jobs over the next two to four years.

Vishal Sikka, CEO of Infosys joined Republican Governor Eric J. Holcomb to announce an $8.7 million investment to lease and equip office space in the Indianapolis area that will accommodate 2,000 new workers by the end of 2021, reports abc News.

Indiana Gov Holcomb

Indiana Gov. Holcomb

Speaking on the occasion, Governor Holcomb said, “Indiana continues to put the tools in place, such as the Next Level Trust Fund and incentivizing direct flights, that allows us to attract and retain great companies like Infosys. In addition, our higher education institutions are producing a world class workforce, establishing Indiana as the innovation hub of the Midwest. I look forward to working with Infosys to elevate Indiana to the next level.”

 

May 14, 2017   No Comments