Pre-Bookings For The All-New Grand Cherokee Now Open As Jeep India Starts Production Of The Global premium SUV

·         Production of the 5th Generation Grand Cherokee commences in India

·         With a suite of next-generation technologies and assistance systems, the all-new Grand Cherokee ensures a truly remarkable & engaging driving experience

·         Will feature a full suite of Advanced Driving Assistance System (ADAS) and over 110 safety features

·         Pre-Bookings is now open across select Jeep dealerships or on www.jeep-india.com, with deliveries expected to commence by the end of the month

Jeep India announced the start of production of the 5th generation Grand Cherokee at its manufacturing facility in Ranjangaon, Pune making it the Brand’s fourth nameplate to be made in India. Already synonymous for its contemporarily styling and unrivalled capability, the most awarded SUV has become the byword for Jeep luxury. With a suite of next-generation Advanced Driving Technologies and signature capability in a luxurious & comfortable interior, the all-new Grand Cherokee offers a truly remarkable & engaging driving experience.

The 5th generation Grand Cherokee has an all-new architecture and sculpted aerodynamic body style combined to improve vehicle performance, safety, and reliability. Designed to maximize overall passenger safety, comfort and convenience, the all-new Grand Cherokee is packed with next generation features and technologies that make it standout in the full-size luxury SUV segment.

Speaking at the start of production ceremony, Nipun J Mahajan, Head of Jeep Brand India, said, "The all-new Grand Cherokee promises exceptional experience for the driver as well as the passengers. The Jeep Grand Cherokee has been developed and engineered to deliver legendary capabilities, class-leading spaciousness, and excellent safety, making the 5th-gen model a global icon in the luxury SUV segment. The generous mix of content and features blended to a legendary offering compliments the premium and exemplary lifestyle of our customers.”

The contemporary luxury SUV draws from its legacy of previous generations of Grand Cherokee, which debuted 30 years ago establishing the segment as we know it. The all-new Jeep Grand Cherokee exudes refinement, thanks to its modern and new-age design, brand-new interior and packed with numerous premium and lifestyle features including other features.

First 3.6MW Vestas Nacelle Dispatched For Vibrant’s 54 MW Project For Sify Technologies

Vestas has dispatched one of India’s largest 3.6MW Nacelle from its factory in Oragadam Chennai, for Vibrant Energy’s 54MW wind project in Maharashtra. Vibrant Energy signed the contract for this project with Vestas in the first quarter of 2022. With this dispatch, Vestas moves closer to completing the installation of Vestas’ first 3.6MW turbine in India at the end of November 2022. 

The overall project comprises 15, V155-3.6MW turbines and is expected to be commissioned in the first quarter of 2023. The project totaling 54 MW is expected to produce 178 GWh of power annually for the next 20 years.

Vibrant Energy is a portfolio company of Macquarie’s Green Investment Group (GIG) operating on a standalone basis. With 1,117MWof renewable energy projects and 2GW of pipeline across Inter-State and Intra-State grids, Vibrant is delivering wind-solar hybrid and Round-the-Clock renewables to its corporate partners in India.

“I thank Vibrant Energy for choosing Vestas as a partner for what will be their first wind project. This contract between the two companies supports Vibrant Energy to roll out its ambitious growth plans for wind-solar hybrid projects in India.  The rollout of the V155 nacelle is a significant milestone for Vestas in India, once operational, V155 will be one of the highest-rated turbines in India, says Vickram Jadhav, Vice President of Sales for Vestas India.

“We’re glad to partner with Vestas for our 54 MW Wind project in Maharashtra with the V155-3.6MW turbines. Vibrant Energy is supporting its clients with a combination of both wind and solar projects to offset approximately 70-80% of grid energy consumption. We look forward to building Round-the-Clock renewables on demand for our corporate customers and working with Vestas as a global partner will only get us closer to achieving our mission”– Srini Viswanathan, CEO, Vibrant Energy”

“This is a significant milestone for Sify on the roadmap to achieve Round-the-Clock renewable consumption for our data centers. Using a combination of solar and wind, Sify is currently able to achieve more than 75% renewable energy penetration. Sify is committed to its sustainability commitments and this dispatch will now accelerate our ESG ambitions. – MP Vijay Kumar, CFO Sify Technologies.

“Vibrant’s commitment to deliver more green energy powered by solar and wind is accelerating its corporate clients’ transition to green energy. We are really excited by Vibrant’s partnership with Sify which continues to strengthen, underpinned by the target to provide Round-the-Clock green energy for Sify’s growing data center footprint in India.” – Abhishek Sharma, Associate Director – Macquarie’s Green Investment Group

About Sify

Sify Technologies is India’s most comprehensive ICT service & solution provider. With Cloud at the core of our solutions portfolio, Sify is focused on the changing ICT requirements of the emerging digital economy and the resultant demands from large, mid and small-sized businesses. Sify’s infrastructure comprising the largest MPLS network, top-of-the-line DCs, partnership with global technology majors, vast expertise in business transformation solutions modelled on the cloud make it the first choice of start-ups, incoming enterprises and even large enterprises on the verge of a revamp. More than 10,000 businesses across multiple verticals have taken advantage of our unassailable trinity of Data Centers, Networks and Security services and conduct their business seamlessly from more than 1,600 cities in India. Internationally, Sify has a presence across North America, the United Kingdom and Singapore. Sify, Sify Technologies, Sify Infinit Spaces, Sify Digital Services and their respective websites are registered trademarks of Sify Technologies Limited.

About Vibrant Energy

Vibrant Energy’s mission is to lead the transition of corporate & industrial (C&I) customers to a more sustainable, resilient, and low-cost energy future. The platform has been delivering on this mission through its extensive project portfolio of 1,117MW renewable energy projects across India. Vibrant Energy is a majority-owned subsidiary of Blueleaf Energy. Blueleaf Energy is a portfolio company owned by Macquarie’s Green Investment Group, operating on a standalone basis. https://www.vibrantenergyholdings.com/

About Green Investment Group   

Green Investment Group (GIG) is a specialist green investor within Macquarie Asset Management, and a global leader in the development of companies, assets and technologies that aim to accelerate the global transition to net zero. Initially launched by the UK Government in 2012 as the Green Investment Bank, it was the first institution of its type in the world. Acquired by Macquarie in 2017, GIG has grown to become one of the world’s largest green investors with a development pipeline of 45 GW in over 25 markets, spanning established renewables and emerging green technologies.   

Macquarie Asset Management is a global asset manager that aims to deliver positive impact for everyone. Trusted by institutions, pension funds, governments, and individuals to manage approximately $A795.6 billion/EUR519.4/GBP455.9/USD508.9 in assets globally. Macquarie Asset Management is part of Macquarie Group, a diversified financial group providing clients with asset management, finance, banking, advisory and risk and capital solutions across debt, equity, and commodities.  

All figures as at 30 September 2022.  For more information, visit greeninvestmentgroup.com and macquarie.com

Vi Expands Retail Footprint With 300 New Vi Shops In Rural Markets Across 5 Circles

-   Retail Expansion planned to Digitally connect the Rural Population

-   New format Vi Shops will serve as one-stop service points for prepaid users in Tier 3 towns

Rapid broadband penetration has led to increased digitalization in the country over the last few years. Further catalyzing digital growth by connecting the next 500 mn digitally unconnected population of the country, India’s leading telecom operator, Vodafone Idea Limited (Vi) has planned its largest retail expansion since its brand launch.

To ramp up its retail footprint at the sub district level, Vi has rolled out 300 new format ‘Vi Shops’ across multiple towns in Maharashtra, Tamil Nadu, Kerala, West Bengal and UP West. Vi plans to further strengthen its local presence and enhance engagement with mobile users by expanding its retail footprint to cover more rural markets in the coming few months.

Vi customers in Indapur, Maharashtra; Hapur in Western UP; Basirhat in West Bengal; Usilampatti in Tamil Nadu; Payyoli in Kerala; and hundreds of other such towns will now get access to quick, efficient, face-to-face service from Vi, along with a range of differentiated products and offerings for the new age mobile users.

The Vi Shops concept for Tier 3 towns is intended to deliver a uniform Vi experience to local customers, enabling quick support and handholding. The modern design of the new format store is in line with signature elements that define existing Vi Stores in urban locations. Vi Shops will offer the entire bouquet of Vi prepaid products and services and enable the less tech savvy users to avail Vi’s service across the table, leading to improved customer experience and closer engagement.

Through this format, Vi also intends to deepen in engagement with rural consumers with the wide bouquet of Telco++ offerings, curated as a result of partnerships with domain experts in areas such as Jobs & Skilling, Govt. Exam preparation, English language skills amongst others.

Speaking on the new retail initiative, Abhijit Kishore, COO, Vodafone Idea Limited, said “Vi has been at the forefront to introduce innovative concepts, products and services that cater to the fast changing environment as well as customer needs and preferences. There is still a large segment of customers in Rural India, who prefer the comfort and familiarity of face-to-face service through the physical Retail format. Further, rural has been driving the growth of mobile internet usage in India.  To cater to this demand, we are taking a renewed approach to our rural retail strategy, through our Vi Shop concept, which will enable millions of Indians to digitally connect for a better future. Vi customers in several Tier 3 towns across 5 circles can now walk into the neighbourhood Vi shop with assured ease and simplicity in accessing service through trained personnel in welcoming surroundings.”

One of the earliest to introduce the concept of one-stop shop Retail outlets in global design format, Vi has planned the new rural prepaid stores by consistently adapting and reinventing to provide a live and engaging experience in line with changing customer needs. The look and feel of the Vi store is designed to address customer aspirations while capturing Vi’s core brand attitude.

Vi is a strong market player in the 5 circles of Maharashtra, Tamil Nadu, Kerala, West Bengal and UP West. To offer 5G for a Better Tomorrow, Vi has acquired 5G spectrum across all these markets to offer services in the future. It has developed a wide range of 5G use cases for consumers and enterprises in areas such as SmartAgri, Healthcare, Education, Immersive Cloud Gaming, Public Safety, Worker Safety and other Industry 4.0 applications which were demonstrated on its Live 5G network at India Mobile Congress in New Delhi recently. 

About Vodafone Idea Limited:

Vodafone Idea Limited is an Aditya Birla Group and Vodafone Group partnership. It is amongst India’s leading telecom service provider. The company provides pan India Voice and Data services across 2G, 3G and 4G platforms. Company holds large spectrum portfolio including mid band 5G spectrum in 17 circles and mmWave 5G spectrum in 16 circles. To support the growing demand for data and voice, the company is committed to deliver delightful customer experiences and contribute towards creating a truly ‘Digital India’ by enabling millions of citizens to connect and build a better tomorrow. The company is developing infrastructure to introduce newer and smarter technologies, making both retail and enterprise customers future ready with innovative offerings, conveniently accessible through an ecosystem of digital channels as well as extensive on-ground presence. The company’s equity share are listed on National Stock Exchange (NSE) and the BSE in India.

The company offers products and services to its customers in India under the TM Brand name “Vi”. 

Honda Cars India Reaches 2 Million Production Milestone In India

* Rolls out its 2,000,000th car made in India from its Tapukara plant in Rajasthan 

Honda Cars India Ltd (HCIL), leading manufacturer of premium cars in India announced that the company has reached the 2 Million-unit milestone in cumulative production of Honda cars in India. The company’s premium sedan Honda City formally rolled out of the assembly line at its state of the art manufacturing plant in Tapukara - Rajasthan, making it the 2 Millionth Honda car made in India. The milestone event was attended by senior leadership from Honda’s Regional Office including Mr. Hiroshi Tokutake, Executive Vice President, Asian Honda Motor Co., Ltd. and Mr. Katsuhiro Kaneda, Director, Asian Honda Motor Co., Ltd. along with the HCIL management team.  

HCIL began production operations in Dec 1997 with a focus on offering premium and world class products for its customers in India.  The 2 Million milestone also reiterates Honda’s commitment towards the “Make in India” vision of Govt. of India. 

Speaking on the occasion, Mr Takuya Tsumura, President & CEO, Honda Cars India Ltd, said, “The historic milestone of 2 Million Production roll out in India is a testimony to Honda’s commitment to the ‘Make in India’ initiative for the last 25 years. We express our sincere gratitude to all our customers, dealer partners and supplier partners for their confidence in us and making Honda a very loved and trusted brand in the country. Our state-of-the-art manufacturing operations in India are equipped to manufacture automobiles and components of global quality standards for supply to both domestic and export markets. We remain committed to providing all our customers with the most advanced, cutting-edge technology products for a premium and worry-free ownership experience, which add value to their daily lives.” “At Honda, our corporate goal is to be a company that society wants to exist. In this spirit, we believe that our efforts also benefit the socio economic development of the region and local community,” he added. 

Honda’s models, over the years, have always showcased the company’s global DNA, best tailored to meet the needs and requirements of Indian customers. The company’s product lineup includes premium sedan Honda City e-HEV, Honda City, family sedan Honda Amaze, premium hatchback Honda Jazz and the sporty Honda WR-V. 

HCIL not only build automobiles in India to meet the needs of customers here. India also serves as a key export base for Honda – for both completed vehicles and components. The company currently exports made in India Honda City and Honda Amaze to 16 markets across the globe. 

The company has cumulatively invested over Rs 10,000 crore since setting up its operations in India. 

Honda Cars India’s state-of-the-art manufacturing facility in Tapukara, Distt. Alwar, Rajasthan, is spread across 450 acres and has a production capacity of 180,000 vehicles per year. The facility is an integrated manufacturing unit including all functions of Forging, Press Shop, Powertrain shop, Weld shop, Paint shop, Plastic Molding, Engine assembly, Frame assembly and Engine Testing facility. This plant is the culmination of the best manufacturing know-how and practices gathered from Honda’s global operations. It employs optimum automation, latest equipment and best layout for achieving high quality, best ergonomics, improved operational efficiency and safety. The plant is highly focused on conservation of the environment and efficient use of energy & other natural resources. 

Honda Cars India values customer experience and strives to provide the finest services to every customer from its 330 dealership facilities spread over 242 cities in India. 

Aegon Life Insurance Reimagines Affordable Savings Products With The “iGuarantee Max Savings Plan” – A Savings Cum Insurance Product

* Provides guaranteed tax-free returns along with life insurance cover 

* Life cover is at least 11X of annualised premiums – an additional advantage unlike traditional financial products 

* Allows steady growth in savings - while safeguarding families against financial shocks if a policyholder dies 

Aegon Life Insurance, Digital India's life insurance company, has launched iGuarantee Max Savings. The new product offers the dual benefit of High Returns + Life Cover, and enables families to meet their medium to long-term savings goals affordably. 

Be it your children’s education or marriage or securing your retirement, you can plan for these goals with a contribution as low as Rs.500/month (Rs.17/day). 

The product can be purchased at the click of a button - no documents* are required, and no visits to the branch. Higher contributions will gain higher returns, and the returns are exempted from tax*. 

On the product launch, Satishwar B, MD, and CEO of Aegon Life, said, "This is a highly competitive and affordable product with premiums starting at just INR 500/month.” 

“The plan ensures that your savings goal is met, no matter what. Say you are 30 years old and have a 3-year-old child. If you put aside even 3,000/- every month for ten years, you will receive approx. 6.5 lakh, tax-free, when your child is 18 and starting higher studies. In case of your untimely death, you can be assured that a tax-free lump sum of at least Rs. 5 lakh is paid to your family. No other savings instrument tops this kind of guaranteed assurance.” 

But that’s not all. This product is flexible enough to cater to different goals and stages of your life. If you are 40 years old and have started thinking about a retirement corpus, all you have to save is Rs. 10,000/- every month for ten years. When you are 60, you will receive a tax-free lump sum of approx. Rs. 29.47 lakh to start your retired life. In case of an untimely demise, your loved ones will be assured of a tax-free lump sum of at least Rs. 22.8 lakh. Thus, the retirement corpus is created, irrespective of unfortunate incidents.” 

“Our intuitive and paperless journey makes it very simple and easy to buy. iGuarantee Max Savings represents a significant step towards achieving Aegon Life's vision of making every household financially secure by making life insurance affordable, easy and accessible to all." 

The product has several customer-friendly features: 

You can choose a policy term between 5 - 20 years, depending on your savings goal.  

Guaranteed returns, flexibility to choose an affordable premium, payable at a frequency of your choice, and the option to receive your benefits timed as per your life goal make this product unique. 

The minimum entry age for this plan is three months, and the maximum is 50 years (for regular pay, 45 years).  

Besides providing life cover and guaranteed savings, Aegon Life iGuarantee Max Savings offers add-on optional coverages through the choice of Accidental Death and Critical Illness riders which secure you against life’s uncertainties, and provide an additional corpus to ease financial burdens.  

In addition to the base sum assured, this plan also offers guaranteed addition and loyalty additions, culminating in a guaranteed maturity benefit at the end of the policy term. 

Throughout its duration, the plan provides a life insurance cover, which pays a death benefit in case of the policyholder’s unfortunate demise.  

The plan offers multiple premium payment options like  

Regular Pay - pay throughout the policy term 

Limited Pay - pay for a fixed duration, lower than the policy term, and  

Single Pay - pay a lumpsum up front 

For Regular and Limited pay, there are three options available for paying the premium in instalment - monthly (starting at INR 500), half-yearly (starting at INR 3,000), and annual (starting at INR 6,000).  

About Aegon Life: 

Aegon Life is Digital India’s life insurance company and pioneered the online Term Insurance plan in India. As India’s only 100% digital life insurance company, it’s building innovative solutions to financially secure every Indian household and provide greater clarity, transparency, and superior customer experience.  

https://www.aegonlife.com/     

Rajnish Khare Joins As The New Chief Digital Officer (CDO) Of Union Bank of India

Mr. Rajnish Khare has joined as Chief Digital Officer (CDO) of Union Bank of India. A digital banking leader with over 23 years of experience in Banking, building progressive & future shaping transformational experiences and capabilities for domestic & international Banks, he has been responsible for Digital Strategy, Technology, Transformation, Payments, Digital Channels, Innovation, Platforms, Ecosystem & Future ready initiatives. 

He has successfully led executive leadership roles in his previous organizations as Head Digital Transformation in HDFC Bank, Chief Innovation Officer in Citibank, Head of Direct Banking & innovation in Standard Chartered Bank, Head Alternate Channels & Cross Sell in ICICI Bank and more such key roles where his focus was to build global digital assets to improve organizational business and accelerate growth. 

He has won numerous awards internationally and in India – A few notable ones being: Asia Pacific Digital Transformation Leader of the Year by IDC Singapore, ICON of the year award by HDFC Bank MD, Golden Peacock Award for Innovation. 

He mentors Fintechs and Start-ups across the Globe and is an International Speaker. 

FADA Releases October’22 & 42 Days Festive Period Vehicle Retail Data In India

On YoY basis, total vehicle retail for the month of October’22 saw a growth of 48%. All the categories closed in green. 2W, 3W, PV, Trac and CV were up by 51%, 66%, 41%, 17% and 25% respectively. 

When compared with October’19, a pre-covid month, total vehicle retails for the first time closed in green with an increase of 8%. Except 3W which saw a marginal dip of -0.6%, all the other categories were in green with 2W, PV, Trac and CV growing by 6%, 18%, 47% and 13%.  

During the 42 days festive period, total vehicle retails were up 28% YoY. All categories were in green with 2W, 3W, PC, Trac and CV growing by 26%, 66%, 28%, 33% & 28% respectively. 

As anticipated earlier, this turns out to be the best festive period for PV segment which showed an increase of 2% when compared to 2020 festivals, the earlier best. 

When compared to pre-covid festive of 2019, overall retails were up by 6%. All the categories were in green with 2W, 3W, CV, PV and Trac growing by 2%, 2%, 14%, 18% and 55% respectively. 

2022 Festive season turned out to be the best in last 4 years. 

The Federation of Automobile Dealers Associations (FADA) released Vehicle Retail Data for October’22 and 42 days festive period.  

October’22 and Festive Period Retails 

Commenting on how October’22 and Festive Period performed, FADA President, Mr. Manish Raj Singhania said, “Auto Retail for the month of October’22 saw an overall growth of 48%. With most of the month under festive period, the sentiments were extremely positive across all categories of Dealership outlets.  

Even when compared to pre-covid month of 2019, overall retails for the first time closed in green by growing 8%. Except 3W, which saw a marginal dip of -0.6% all the other categories like 2W, PV, Trac and CV grew by 6%, 18%, 47% and 13% respectively.  

Festive’22 brings cheers to the Auto Industry as for the first time customers of every category came out in good numbers and took part in festive purchases thus making it the best in last 4 years. As anticipated earlier, PV segment saw the best year in a decade by outgrowing 2020 numbers by 2%. When compared to pre-covid festive of 2019, overall retails were up by 6%. All the categories were in green with 2W, 3W, CV, PV and Trac growing by 2%, 2%, 14%, 18% and 55% respectively. 

The 2W segment showed a huge growth of 51% YoY and for the first time, 6% compared to Oct’19, a pre-covid year. With both Navratri and Deepawali majorly falling in a single month, the month of October saw double foot fall at Dealerships. Dealers say that sentiments have also started improving at the rural level but the same needs to sustain for at least next 3-4 months. Apart from this, new launches and good customer schemes also played a pivotal role in helping revival in demand.  

The 3W segment showed a massive growth of 66% YoY but was marginally below the red line in 2019 by de-growing -0.6%. The sub-category figures clearly show that shift is happening towards EV adoption while ICE vehicles are no more favourites. In few pockets due to permit issues, new vehicle sales have taken a hit during the month.  

The PV segment showed a growth of 41% YoY and 18% when compared to 2019. PV segment continues to see extremely high demand especially in SUV and Compact SUV segments including higher variants in most of the product categories. With better vehicle availability coupled with new launches, the segment also witnessed the best Festive Period in a decade by surpassing 2020 festival sale by 2%. 

The CV segment continues to come back on track by growing 25% YoY and 13% compared to 2019. Festivities ignited better fleet sales. With Mining and Infrastructure projects increasing in various regions, demand has been keeping well and is also coming back on track.”  

Near Term Outlook 

With festivities ending, the immediate next month generally witnesses a certain amount of softness in sales. While farmers will start receiving their crop realisations, the overall sentiment continues to show some headwinds especially in the 2W rural segment. For auto retails to show strength, the 2W segment will have to grow for at least 3-4 months over pre-covid months to come out of the woods.  

The CV segment is anticipated to see continued demand due to rising infra projects and government spending. While the PV segment continues to outperform, demand in entry level segment continues to show some softness.  

Most of the OEMs will now start migrating towards manufacturing OBD-2 norms vehicles. This will definitely see a steep price increase across all categories of vehicles as and when they hit the market. Also with year-end coming close, many customers wait for vehicles manufactured in the new year.  

FADA hence remains cautious as the Auto Industry approaches the year end period.   

Key Findings from our Online Members Survey 

Inventory at the end of October’22 

Average inventory for Passenger Vehicles ranges from 35 – 40 days 

Average inventory for Two – Wheelers ranges from 40 – 45 days 

Liquidity 

Good                    45.9% 

Neutral                35.9% 

Bad                        18.2% 

Sentiment 

Good                    44.1% 

Neutral                 37.1% 

Bad                        18.8% 

Expectation from November 

Growth                42.4% 

Flat                         32.9% 

De-growth          24.7%