Mahindra’s Revolutionary iMAXX Telematics Connected Vehicle Tech Set To Transform Indian Vehicle Fleet Management

 * Mahindra’s iMAXX offers unprecedented predictability & control over the transporter’s fleet, leading to higher profits and a hassle-free ownership experience

* Featured as Standard Equipment in the BS6 compliant range of BLAZO X HCVs, FURIO ICVs & LCVs and CRUZIO Buses with free subscription package

* New Telematics platform deploys cutting-edge telemetry technology to provide powerful insights on vehicle health and performance

Mahindra Truck and Bus (MTB), a part of the USD 19.4 billion Mahindra Group, today announced the launch of its revolutionary connected vehicle technology, Mahindra iMAXX. This new Telematics platform is fitted into Mahindra’s BS6 emission norms compliant CV range, including the BLAZO X range of HCVs, FURIO range of ICVs & LCVs and CRUZIO range of buses. This new technology promises to further strengthen the value proposition of the MTB range for the company’s discerning customers.

The new Mahindra iMAXX technology, coupled with the tried & tested BS6 engines (mPOWER and MDI Tech) with FUELSMART technology and robust aggregates, retaining over 90% of the parts of the erstwhile BS4 vehicles, will help fleet owners and transporters transition to the BS6 ownership experience smoothly and efficiently. 

Speaking on the occasion, Jalaj Gupta, Business Head, Commercial Vehicles, Mahindra & Mahindra Ltd. said, “At Mahindra we are the pioneers in Connected Vehicle technology, which has become even more important in the new BS6 era, given the increase in electronics based vehicle controls.”

Mr. Gupta added, “The Mahindra iMAXX Telematics solution, is based on next generation telematics technology and is at the heart of our brand promise -HAR CHEEZ GUARANTEE KE SAATH, for our BS6 vehicles. It is an intelligent fleet telematics solution which deploys cutting-edge telemetry technology like Dual CAN (Controller Area Network), 4G and other leading digital technologies, including Machine Learning and Artificial Intelligence, to provide powerful insights on vehicle health and performance. This helps in maximizing returns for Fleet Owners.”

With the right telematics platform, like Mahindra iMAXX, enhanced fleet operations efficiency leads to higher asset productivity/ fleet utilization, lower costs of operations and higher fleet safety. Mahindra iMAXX, is an intelligent platform and a differentiated solution compared to other offerings in the market that focus mainly on location tracking based services and basic vehicle electronic data.

Today, Mahindra is seeing an unprecedented number of success stories from its BS4 fleet customers who are achieving upwards of 10% fuel economy improvements across their fleet.  In fact some customers are even achieving 100% asset productivity improvements in terms of kilometers driven per vehicle per day, thanks to the intelligent insights provided by the Mahindra iMAXX platform that was soft launched and co-created with customers in the earlier BS4 era.

Unique Benefits of Mahindra iMAXX Telematics Platform:

As against the regular telematics solutions that focus mainly on location tracking based services and basic vehicle performance analysis, the intelligent and revolutionary Mahindra iMAXX is in a different league due to the following:

Embedded Device Capability – The core capability of the Mahindra iMAXX embedded device is to absorb large scale, high frequency engine and allied system data securely, and transmit on a real-time basis over 4G airwaves for server processing. To put this in perspective, the amount of data transmitted through the Mahindra iMAXX device from the vehicle is on an average 600% higher than the previous generation telematics systems available in the market.

Digital Twin Platform – Once such a large amount of data comes into Mahindra iMAXX cloud servers, the machine learning algorithms and artificial intelligence models put in place at the Mahindra iMAXX digital twin platform level helps provide accurate, reliable and predictive business and engineering insights. While most telematics solutions fetch and show vehicle data to customers without any further intelligence or analysis built-in, Mahindra iMAXX has the unique and unparalleled capability to add machine intelligence to normal data for enhanced credibility, efficacy and reliability – a First in Indian CV industry.

To appreciate the power and uniqueness of this solution, and how this technology powers our service guarantees for customers, consider this actual case that occurred on one of the customer’s vehicle during Lockdown 1.0. The artificial intelligence built into the system which monitors multiple correlated vehicle parameters was able to predict an engine cooling system issue, 33 hours prior to it actually occurring on the vehicle i.e. vehicle sending a high coolant temperature fault code through its ECU. With the predictive alert available at the right time to our NOW 24X7 helpline and Uptime monitoring team and to the customer, coupled with the agility and timely action of the customer support team, a possible major vehicle breakdown was averted and the driver continued on the trip after minor repairs provided by our mobile service van.

For more details on the features of Mahindra iMAXX, please click on:

https://www.mahindratruckandbus.com/imaxx.aspx

Mahindra Unveils All-New Thar: The 4x4 Icon is Now a Contemporary, World-Class SUV

Mahindra & Mahindra Ltd., a part of the $19.4 billion Mahindra Group, today unveiled the All-New Thar, the most eagerly awaited and legendary SUV, on the occasion of India’s 74th Independence Day. In its all-new avatar, the Thar is a quantum leap in terms of performance, everyday comfort & convenience, technology and safety, as it stays true to its core promise of unmatched off-roading capability and builds on its iconic design.

Unveiling the All-New Thar, Dr. Pawan Goenka, MD & CEO, M&M Ltd said, “Today, with the unveil of the All-New Thar, we rewrite history once again. The All-New Thar is firmly rooted in our rich automotive heritage and upholds the Mahindra DNA in its purest form. We are proud of our authentic SUV legacy that has been guarding the freedom of this nation by serving the armed forces since the 1950s, while simultaneously becoming the spirit of adventure and a lifestyle icon. The All-New Thar is a dynamic expression of fun, freedom and independence, and is geared up for its next adventure”.

The All-New Thar will not only attract die-hard Thar enthusiasts, but also appeal to all those people who have always dreamt of owning an iconic vehicle, with all the bells and whistles of a contemporary SUV. 

The All-New Thar has the following exciting features:

·         All-new BS-6 compliant Engine options: The 2.0 litre mStallion TGDi Petrol engine and the 2.2 litre mHawk Diesel engine

·         New Gearbox options: 6-speed torque converter automatic transmission & 6-speed manual transmission mated to an authentic manual shift-on-the-fly 4x4 transfer case

·         All-new Roof options: A Hard Top, a first-in-class Convertible Top and an optional Soft Top

·         All-new Seating options: 4 front-facing seats & 2+4 side-facing seats

·         All-new Technology Features: Drizzle resistant 17.8 cm touchscreen infotainment system, cruise control, adventure statistics display and a whole lot more

·         All-new Comfort and Convenience Features: Sporty front seats, roof-mounted speakers and lots more

·         New Safety Features: ABS + EBD, Dual airbags, ESP with rollover mitigation, Hill-hold and hill descent control and a whole lot more

According to Rajesh Jejurikar, Executive Director, Auto & Farm Sectors, M&M Ltd., “The All-New Thar will enhance the appeal of a brand that is already a cult, to a wider set of consumers. It will target people who seek extraordinary journeys and wish to Explore the Impossible. The All-new Thar will be launched on 2nd October, 2020 which is also our Founders Day”

Veejay Nakra, CEO, Automotive Division, M&M Ltd. said, “The Thar has represented the spirit of freedom, thrill and fun-to-drive character that few other vehicles can match. With the All-New Thar, we aim to protect this legacy with superior performance both on and off the tarmac, advanced technology features, excellent safety and everyday ride comfort, all adding to the unadulterated driving pleasure of a true-blue modern SUV.”

Ever since India became a free nation, ‘The Mahindra Classics’ have enabled Indians to explore new worlds and conquer even the most challenging terrains. For over seven decades now, The Mahindra Classics have shared a close bond with India’s story and the unveil of the All-New Thar on the momentous occasion of our country’s Independence Day is a significant milestone in taking this journey ahead.

As Ralph Waldo Emerson, the renowned poet said, “Do not go where the path may lead; Go instead where there is no path and leave a trail.” The All-New Thar allows you to do just that.

Designed and engineered in India and manufactured out of Mahindra’s Nashik Plant, the All-New Thar will be available in 6 exciting colours, Red Rage, Mystic Copper, Napoli Black, Aquamarine, Galaxy Grey and Rocky Beige.

Mahindra, Cisco Systems enter into a strategic alliance

MUMBAI: Mahindra Group on Tuesday signed a strategic alliance with Cisco Systems . The joint venture will collaborate on global platform and provide cloud computing services.

Cisco said that the partnership with Mahindra will work on areas including connecting communities. The JV has an ambitious target market at $5 billion in 5 years.

Mahindra & Mahindra, Vice Chairman, Anand Mahindra said: "The JV will provide cloud computing services and will involve M&M group across geographies."

The partnership will also involve many contracts.

Mahindra said, "This is about a partnership and it is a partnership not just of one contract but involving many contracts between Mahindra and Cisco, not just in India but across the world. This is about an Indian company moving from simply looking at itself as a service provider to partnering Cisco in joint go-to-market initiatives."

At 12:19 Tech Mahindra was up 7.7% at Rs 729.40. It touched a high of Rs 727.20 and low of Rs 676.40 in trade so far. Around 1.50 lakh shares were traded in the counter. Mahindra Satyam was up 4.48% at Rs Rs 65.35.

With this joint venture M&M and Cisco will focus on the Internet. The two companies believe that the web will dramatically change the way in which businesses function and in the way that services are provided to customers.

"The second belief that we share with Cisco is that companies that are able to harness innovation in providing services to their customers are the ones that are going to be left standing and in fact standing on the victory podium. I believe that Cisco does truly understand that India can be a game changer in leveraging innovation," added Mahindra.

When asked about what has the JV got for Cisco, Mahindra said, "I have already mentioned one very important thing that they are going to be able to get even more traction in India, more reach in penetration through us. Cisco can also leverage us as a game changer for innovation through the internet as a way of reaching customers throughout the globe and therefore in essence they are going to leapfrog."

"For Mahindra the joint venture would help in becoming a brand that epitomise customer centricity and innovation that is very critical for us and we want to be known for this around the world. We believe that we can bring value to them and we believe that by tying up with them we will strengthen and enhance our capabilities to be more customer centric and innovative." said Mahindra.

Will TCS reduce the salary of campus recruits?

IT services company TCS (Tata Consultancy Services) has announced that it would revise the compensation package of campus recruits. Under the changed structure, TCS trainees will no longer be paid the variable component of the compensation - which works out at Rs. 5,000 per month or 19-20 percent of the total annual pay packet of Rs. 3.1 lakh - offered to them during their in-campus recruitment.

Ajoy Mukherjee, Global Head, Human Resources, TCS said, "As part of a compensation restructuring exercise, freshers joining the company this quarter onwards will not be eligible for variable pay during the training period. Restructuring trainees' salaries is being done from the point of view of productivity so that they get accustomed to the fact that variable pay depends on performance."

Last year, the company had made campus offers to 24,885 students. Of this, the company is expecting around 19,000-20,000 students to join. Going by this number, the company is expected to save around Rs. 10 crore per month by altering the variable part of salary for trainees. For six months, the savings would be Rs. 60 crore. Mukherjee said, "The company would be able to take on board all campus recruits in the current fiscal itself."

However, other IT giants like Infosys and Wipro are not fiddling with the compensation package of trainees. Infosys decides on the variables based on a test conducted after 18 weeks of initial training. Mohandas Pai, HR head, Infosys said, "Those who score four out of five are entitled to variables." Wipro claims to pay the variable part to its employees from the beginning of the training period.

Now, it would be interesting to see, what steps these companies take for campus recruitment in next fiscal. TCS is yet to decide on how these campus offers would be made in the next fiscal.

Agencies

TCS, Wipro and HCL emerge top IT leaders

A recent rating — for global R&D service providers across India, China and Eastern Europe — by Zinnov Management Consulting identifies Wipro, TCS and HCL as market leaders in the overall rating based on components like financial strength and business models, innovation & expertise, people strength and operations.

The rating has also highlighted the impact of recession on the R&D service providers community across all key levers — like contract re-negotiation, increase in sales cycle time, bankruptcy of clients and fears of business continuity risk — which did result in many of them having to reassess and redefine their strategies.

Result of this reassessment has seen core mid-market service providers like Tata Elxsi, Tech Mahindra, Aricent, MindTree, Symphony, Sonata, Global Logic, Polaris and Aditi, moving strongly towards the top-pack and establishing themselves as leaders in specific industry verticals, said the rating.

Pari Natarajan, CEO, Zinnov Management Consulting said, the global economy has witnessed a major reset and is currently observing green shoots of recovery, with Germany, India and China among others showing signs of improvement. “This tectonic shift in the economy has led to numerous changes in the current market dynamics, but one thing that can be safely assumed is the continued growth of interlinkages between global businesses and stronger relationships between service providers and MNCs would only continue to grow in times to come.’’

Vertical specific rankings were also under taken to understand the capabilities of the various service providers in providing turnkey product engineering services in verticals like aerospace & defense, automotive, consumer electronics, healthcare, semi conductors, telecom, & software.

The rating study also found that, R&D offshoring to India, China, Russia and Central & Eastern Europe is expected to grow at 6-7% with India and China continuing to constitute close 90% of the overall market. Though large firms have neither dramatically cut down nor increased their R&D spends. Hence, R&D offshoring to India, China, Russia and CEE is expected to remain flat.

Agencies

Will Satyam lay off 8,000 non-IT staff from June?

Satyam Computer is likely to sack most of its non-billable staff of up to 8,000 working in marketing, HR and administration wings,after Tech Mahindra takes charge of the company from June 1.

A Satyam official said there is no doubt that there will be large-scale sacking mostly of the support and non-billable staff (other than hardcore software engineers) once Tech Mahindra (the new owner of the company) directors come on board from June 1.

The surplus staff is about 10,000-12,000 and the 'least painful' ways of sacking is asking the bench, non-billable and support staff to go.

The company spokesperson, when contacted, said that at the moment these are mere speculations.

Sources also said the outsourcer may opt for "virtual pool" sacking method whereby the company would ask some of the staff to take 75 per cent of its salary and take one-year off and look for a job elsewhere with the fragile assurance that they would be recalled, if required.

Tech Mahindra CEO Vineet Nayyar, who will also come on board of Satyam from June after it acquired fraud hit company last month, had said last week that Satyam has about 10,000 surplus staff and "we are looking at the least painful ways to tackle the problem."

Satyam has already called back most of its onsite staff to avoid further costs and most of them may be asked to quit, said the official.

About 3,000 people are on the bench and there is a surplus manpower even in the R&D and engineering units, sources said.

Dwindling revenues are the primary reasons for Tech Mahindra to opt for such a cost-cutting measure, Tech Mahindra official said.

Kiran Karnik, chairman of Government-appointed board of Satyam, said revenues are falling and cost-cutting measures have to be taken up. But he had ruled out lay-offs.

Agencies

Will major clients continue to stay with Satyam?

In a news that could bring cheer to Satyam employees, three of their big clients Nestle, Nissan and CIBA who were on wait and watch mode have assured to continue business with the firm.

"Clients such as Nestle and Nissan has already expressed their confidence in the company and had assured us that they will continue with us," an official privy to the development said. Nestle have also given some additional business to the Satyam last month, the person added further.

One of the multi-million dollar SAP client of Satyam, Nestle, which was earlier keeping a tab on the developments. Analysts had feared that post the acquisition of the firm by Tech Mahindra clients of Satyam who were sitting on the fence would jump to other vendors.

However, post the acquisition some of the companies had expressed confidence in the entity and pledged to continue business with them. Auto major Nissan for whom Satyam provides application management had also said that they would continue business with the firm. The company has also got an endorsement from another SAP client CIBA.

Moreover, United Kingdom, Switzerland and Germany who have earlier imposed some strict norms on Satyam employees for getting Visa have eased them. Post Satyam crisis, employees of Satyam were asked to be present in person and appear for visa interviews.

However, now they have eased the norms and the employees need not be present for the interview in person. Satyam Computers plunged into crisis after its founder B Ramalinga Raju in January admitted to have cooked the books of the company for year.

In April, information technology firm Tech Mahindra announced to acquire a 51 per cent stake in the beleaguered firm for Rs 2,900 crore. Earlier, the government-appointed chairman of Satyam Kiran Karnik had said that though some clients have left the company but at the same time Satyam have got some new work as well.

Agencies

Is it tough times ahead for Indian IT firms?

Major information technology firms are expected to post a decline in revenue growth in the fourth quarter of 2008-09, primarily on account of project cancellations, say analysts.

"Indian vendors have witnessed several project cancellations during the third and fourth quarter of the fiscal year 2009. The magnitude of project cancellations is different for different vendors," domestic brokerage firm Motilal Oswal said in its India strategy report.

Along with project cancellations, delays in client decision making will cast a toll on 4Q FY-09 volumes, it said. "We expect IT companies to report quarter-on-quarter dollar revenue declines owing to stressed volumes and declining realisations. This is the second consecutive quarter where the sector will see dollar revenue degrowth," it said.

The rupee has depreciated 4.69 per cent against the US dollar during the March quarter, while on an year-on-year basis it has depreciated over 27 per cent.

"Hence, the top-line growth even in rupee terms is expected to remain flat to marginally negative on an organic basis during the quarter," brokerage firm Sharekhan said in its IT earnings preview. Meanwhile, the appreciation of the dollar against other international currencies (euro and pound sterling) would impact the dollar term revenues of the front-line IT firms.

"This is likely to have a negative impact of 2-3 per cent on the dollar term revenue growth rate as the IT companies bill around 25-30 per cent of their revenues in the pound sterling, the euro and Australian dollar," it added.

IT major Infosys would kick-start the quarterly earnings season from April 15 followed by other IT majors -- Wipro, HCL Technologies and Tata Consultancy Services.

"Forward earnings for most companies are not expected to be good. The earnings for the entire IT sector are expected to be bad and the Infosys results are likely to give a new direction to the market," Arun Kejriwal of Kejriwal Research and Investment Services said.

The Sharekhan report stated that amid global turmoil and uncertainty, investor focus would remain on FY-10 guidance. "Going forward, the street would be keenly watching the guidance for FY 2010 as the same would influence the sentiments towards the IT stocks. In rupee terms, the street expects a guidance of a flattish growth in revenues," it noted.

"The street is expecting a revenue growth of 3-4 per cent in rupee terms in FY-10 despite a five per cent y-o-y decline in dollar terms," Sharekhan added. During the January-March period, Infosys scrip has gained 15.38 per cent to Rs 1,324.10 and TCS was up 9 per cent.

While shares of Wipro fell one per cent since January 1, HCL Technologies was up 17 per cent at the end of March 31. "Technology stocks are likely to underperform the markets over the next few quarters," Sharekhan said.

According to Motilal Oswal following substantial across-the-board price cuts, IT companies are hopeful of restricting price cuts to five per cent in the March quarter. Besides, focus on off-shoring would improve the impact from declining realisations.

"We expect growth to start picking up from second half of FY-10, as clients begin to adopt off-shoring to cut costs. As the freeze in technology spending begins to lift, we believe large players would start booking volume growth," Motilal Oswal added.

The Sharekhan report stated that in terms of earnings, Infosys is likely to meet the lower end of its dollar guidance.

Besides, HCL Technologies is likely to report a revenue growth on the back of acquisition of British consultancy firm Axon, which would cast its toll on the operating profit margin of HCL.

Agencies

Tech Mahindra bags Satyam Computers sale bid

IT services provider Tech Mahindra is the new owner of Satyam Computer Services. The company bid the highest at Rs 58 per share,
pipping rivals engineering firm Larsen & Toubro and billionaire investor Wilbur Ross to the post.

Engineering firm L&T bid at Rs 45.90 per Satyam share, Kiran Karnik, chairman of the govt constituted Satyam board told reporters.

Karnik also said that the Cognizant-Wilbur Ross combine had put in their bid at Rs 20/share for the fraud hit IT co.

Tech Mahindra will have to pay Rs 1,757 crore to buy a 31% stake in Satyam Computer Services. The IT co will have a market cap of Rs 5,666 crore on expanded equity. Tech Mahindra will have to pay a total of Rs 2890 crore for 51% stake in Satyam.

The acquisition will help the company, an arm of the Mahindra & Mahindra Group, to diversify into new areas instead of just depending on the telecom sector.

The Satyam acquisition will help Tech Mahindra diversify its software services business, and compete aggressively with bigger rivals such as TCS, IBM, Infosys and Wipro.

Satyam, which serves customers such as GE, GM and Ford will also help Tech Mahindra build a better portfolio of customers.

Satyam has a 46,600 strong work force, land assets of 450 crore, besides the order book position. Its liabilities include the legal liabilities arising out of the class action suits filed by shareholders in the US, besides any liability arising out of the tussle with UK based mobile payments services provider Upaid.

Agencies

Are Satyam employees set to join BoA?

About 250-300 employees at fraud-hit Satyam Computer Services are joining Bank of America, a newspaper said on Wednesday.

The employees were working on a Satyam project for Merrill Lynch, which was taken over by the US bank after it was hit by the subprime crisis last year, it said.

The project was not renewed by Merrill after Satyam was caught in country's biggest corporate scandal and the work of managing its database and providing infrastructure support would now be done in-house, the paper said.

The first of these employees will join Bank of America between April 2 and 8, it said, adding they have been given salary increases of around 10 per cent and joining bonuses.

A spokeswoman for Satyam said, "The report is speculative." An official at Bank of America-Merrill Lynch in India said she could not immediately comment.

Satyam, whose market value has slid to $505.6 million from $7 billion last May, is in the midst of a bidding process to find a new buyer. It plunged into a crisis in January after its founder quit as chairman revealing profits had been falsified for years.

Engineering conglomerate Larsen & Toubro and mid-sized outsourcer Tech Mahindra are among the suitors, and local media have said US private equity WL Ross & Co was also among the bidders.

Agencies

Has Spice Corp pulled out of Satyam bid?

Noida based BK Modi promoted Spice Corp has pulled out of the bid process for Satyam 'at least for the moment'. The company cites non-transparency as the reason for pulling out. "We are pulling out of the Satyam bid at least for the moment.

We have sent a letter to the Satyam board and former Chief Justice SP Bharucha, who is supervising the bid process. The bid process should have been in line with the order of the Company Law Board," said a company top executive overlooking the bid.

The company was reportedly unhappy over Satyam board not disclosing the names of other shortlisted bidders and making the auction 'open'. It was also not happy with the fact that the second round includes another ‘closed’ technical evaluation' post the one which has already happened post EoI submission.

"As it is only a few bidders are left, what constrains the company from not making the auction process public for the benefit of all shareholders?," the executive added. The company spokesperson however added that Spice might relook at their decision if Satyam makes the bid process 'open and transparent' as advised by CLB.

April 9 is the last date for submission of financial bids for shortlisted players. Spice, L&T and Tech Mahindra are amongst a few bidders shortlisted to participate in the second round.

Economictimes

iGATE Pulls Out of Satyam Bidding Process

Fremont-based iGATE has decided not to go ahead with the bidding process for acquiring 51% stake in India's scam-tainted Satyam Computer Services (SATYAMCOMP), based on further analysis.

Talking to CXOtoday, Phaneesh Murthy, CEO of iGATE, said, "While there is no one particular reason, it's the totality of concerns like sliding revenues, unknown margins and large liabilities that made us pull out of the race."

Murthy said, "We know that there are customer exits happening at Satyam. While the value erosion and the extent of liabilities were a concern, it was the totality of concerns that influenced our decision."

The company had earlier announced its participation in the bidding process last week, competing against some of the large Indian investors.

However, our PE fund partner had no role or influence in our decision to pull out. We had prepared our own model of financials and in that model it was difficult to get a reasonable return for any investor, said Murthy.

Satyam has been struggling for survival since January 7, when its founder and former chairman, B. Ramalinga Raju, confessed to filling the company's balance sheets with $1 billion in fictitious assets and nonexistent cash.

March 20 was the deadline set by the government-appointed Satyam Board for bidders to respond to the request for proposals the IT firm had sent out on March 13.

Sources indicate that potential bidders are concerned about the lack of clarity about the financial status of Satyam, as well as the implications of the class action suits and other legal troubles that the company is facing.

CXOtoday