Recent News
Selection of Recent Transactions
DATE TARGET ACQUISITION
Oct’24 AAM (India) Bharat Forge acquired 100% in the Indian subsidiary of auto components
manufacturing company for $65MN
Oct’24 Orient Cement The Adani Group’s Ambuja Cement acquired ~47% of the CK Birla
owned Orient Cement for $450MN
Oct’24 Thyssenkrupp Electrical Steel JSW Steel & Japan’s JFE Steel acquired the electrical steel manufacturer
for $440mn through a 50:50 JV.
Oct’24 Uraj Mobility EV financing provider Mufin green finance invested ~$12mn in the
EV 3-wheeler company
Oct’24 Aarav Unmanned Sytems The drone manufacture raised ~$2mn in a fundraise led by JSW Ventures
Oct’24 Stellapps The dairy supply chain management company raised ~$26mn Cr in a
fundraise led by Blume Ventures
Hybrids’ increasing share in the EV pie!
While sales of BEVs (battery electric vehicles) continue to grow overall, the growth rates have overall dropped. BEVs as a technology has achieved maturity for 2/3Ws, therefore countries with high usage of such vehicles are driving EV adoption. Developed countries that are primarily a 4W market are showing signs of sluggishness as adoption of BEVs beyond early enthusiasts is finding resistance – concerns being higher upfront costs with low resale value, range anxiety with insufficient charging infrastructure and falling government subsidies. Global sales growth for BEVs which averaged ~60% between 2020-23 is expected to reduce to ~20% over the next 4 years.
Plug-in hybrid electric vehicles (PHEVs) or hybrids* with improved performance address many of the issues in BEVs - along with the low carbon footprint, hybrids have lower upfront costs, higher resale value and alleviate range anxiety, thus gaining popularity in developed nations. Sales of hybrids are expected to increase across geographies going forward:
Globally, the largest players in the PHEV space include - Toyota, Honda, Hyundai, Ford, BYD, KIA, Volkswagen, Nissan and General Motors.
*A hybrid uses more than one energy source, typically a combination of an internal combustion engine and an electric motor; Electric Vehicles (EVs) include both plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs).