Vitesco Technologies And onsemi Sign SiC “Long-Term Supply Agreement And Agree To Invest In SiC Technology Capacity Expansion”

* Vitesco Technologies is securing silicon carbide (SiC) supply capacity worth $1.9 billion (€1.75 billion), to enable the enormous growth in electrification 

* Vitesco Technologies is gaining access to this key semiconductor technology by providing an investment in production capacity of $250 million (€230 million) to onsemi  

* In addition to investing in production capacity, the two companies will collaborate to further optimize the traction inverter system   

Vitesco Technologies and onsemi announced a 10-year long-term supply agreement worth $1.9 billion (€1.75 billion) for silicon carbide (SiC) products to enable Vitesco Technologies’ ramp in electrification technologies. Vitesco Technologies, a leading international manufacturer of modern drive technologies and electrification solutions, is providing an investment of $250 million (€230 million) to onsemi for new equipment for SiC boule growth, wafer production and epitaxy to secure access to SiC capacity. The equipment will be used to produce SiC wafers to support Vitesco Technologies’ growing SiC demand. In parallel, onsemi, a leader in intelligent power and sensing technologies, will continue to invest substantially into end-to-end SiC supply chain.  

In addition, Vitesco Technologies and onsemi will collaborate on optimized customer solutions for Vitesco Technologies. onsemi’s highly efficient EliteSiC MOSFETs will be used by Vitesco Technologies to execute the recent orders as well as future projects for traction inverters and electric vehicle drives.  

“Energy-efficient silicon carbide power semiconductors are at the beginning of a big surge in demand. That is why it is imperative for us to get access to the complete SiC value chain together with onsemi. With this investment we have a secure supply of a key technology over the next ten years and beyond,” said Andreas Wolf, CEO of Vitesco Technologies. 

Hassane El-Khoury, president and CEO of onsemi, commented: “This collaboration will enable Vitesco Technologies to address their customers’ demand for longer range and higher performance in electric vehicles. onsemi provides superior performance and quality, supply assurance, and manufacturing at scale of SiC technologies based on decades of experience in manufacturing power semiconductor products in high volume automotive applications.” 

SiC semiconductors are a pivotal technology for electrification enabling highly efficient power electronics leading to reduced charging times and longer range for electric cars. Especially at high voltage levels such as 800 V, SiC inverters are more efficient than silicon models. Since 800 V is the prerequisite for fast and thus convenient high-voltage charging, SiC devices are at the beginning of a worldwide boom. 

PFRDA Unveils Handbook Of National Pension System Statistics (2023)

Pension Fund Regulatory and Development Authority (PFRDA) released its first annual publication of “Handbook of National pension System Statistics 2023” (HNPSS).  

This publication, the first edition in the series, disseminates time series data on National Pension System and APY relating to all three phases of subscriber journey in the NPS system, namely: registration, accumulation, and at the time of exit in the NPS architecture in one publication. The current edition of the HPNSS contains 28 statistical tables covering time series and annual data on various parameters such as scheme-wise number of subscribers and their demographic profile, asset under management, contributions, withdrawals, grievance resolutions, net asset values (NAVs) for the period 2008-09 to 2022-23.  

Lightstorm Unveils Polarin – A Game-Changing NaaS Platform Enabling Scalable And Agile Cloud Interconnectivity For Enterprises

* Polarin by Lightstorm allows enterprises to quickly scale in a hybrid and multi-cloud world while ensuring 100% uptime, low latency, and availability

* Businesses can use Polarin by Lightstorm to manage interconnections with agility, and provision a network across clouds and datacenters within minutes 

* This disruptive solution will lead to wider adoption of multi-cloud by making it easier for enterprises to easily access and build a network for the cloud

Lightstorm proudly announces the launch of Polarin, a ground-breaking self-serve Network-as-a-Service (NaaS) platform. Polarin by Lightstorm empowers enterprises to manage network interconnections effortlessly and cost-effectively across hybrid and multi-cloud infrastructure, internet exchanges, CDN service providers, and a myriad of SaaS applications like O365, all within a secure private network.

Designed to cater to cloud-native, forward-thinking enterprises, Polarin's revolutionary network fabric offers a diverse range of connectivity solutions, granting unparalleled control and visibility over network design, deployment, and scaling in the dynamic realm of hybrid and multi-cloud networks. As a self-service platform, Polarin by Lightstorm caters to the ever-evolving needs of modern businesses, ensuring they can deliver enhanced customer experiences without the need to overhaul their network or cloud architecture.

"Our launch of Polarin by Lightstorm underscores our unwavering commitment to develop products and solutions that truly empower businesses to leverage cutting-edge technologies for accelerated growth. In today's rapidly evolving landscape, enterprises seek a transparent, secure, and agile solution to effectively manage their increasingly complex cloud networks. Traditional network solutions are ill-equipped for the cloud era and fail to address the evolving needs of businesses. Polarin by Lightstorm is built on the bedrock of transparency, agility, and scalability, allowing businesses to accelerate their hybrid and multi-cloud journey," shares Amajit Gupta, Group CEO & MD, Lightstorm

Gone are the days of cumbersome provisioning processes and rigid legacy networks that stifle enterprise growth. Polarin, built with a customer-centric approach, orchestrates the entire customer lifecycle through APIs, seamlessly integrating with various technology partners. This empowers businesses with not only cost-effective network management, but also customized solutions tailored to their unique requirements. By simplifying network management and enhancing operational efficiency, Polarin enables significant cost savings for businesses.

“Our goal with Polarin is to drive growth for burgeoning businesses across regions. This disruptive NaaS solution can enable companies to not only manage varied cloud infrastructure with ease, but also mould the same to their bespoke needs. A robust solution that offers 100% uptime and low latency, Polarin by Lightstorm gives businesses all the tools they need to flourish. With Polarin, enterprises can now embrace a future where scalable and agile cloud interconnectivity becomes a reality,” says Lalit S Chowdhary, CTIO, Lightstorm.

It is time to say goodbye to limitations and embrace a network solution that propels your business toward unparalleled growth and success.

About Polarin by Lightstorm

Polarin™ is an interconnection network platform offering from Lightstorm that enables seamless connectivity between data centers, hybrid and multi-cloud environments, internet exchanges, and SaaS applications like Microsoft Office 365. With Polarin™, organizations can effortlessly scale their networks while ensuring high availability, low latency and 100% uptime, delivering a transformative customer experience. Experience unparalleled performance and agility with Polarin™, and empower your digital infrastructure for the future.

About Lightstorm

Lightstorm is building infrastructure for hyperscale networking in South Asia and Southeast Asia to accelerate the region's growth and spur innovation in the digital economy. It is building a first-of-its-kind utility-grade resilient fiber network, SmartNet, in several countries in the region. A trusted partner of several Fortune 500 companies, Lightstorm is creating a robust foundation of digital infrastructure to create new sources of value and differentiation for businesses.

For more information, visit https://www.lightstorm.net/. You can also connect with Lightstorm’s experts on LinkedIn.  

RBL Bank Introduces ACE Fixed Deposit, Offering Upto 8.50% Interest Rate

·         Tenure options ranging from 12 months to 240 months

·         Deposit value of Rs. 50 Lakh to less than Rs. 2 Crore

RBL Bank, one of India’s leading private sector bank in India – today announced the launch of its new Fixed Deposit – ACE. In a significant move to enhance customer offerings and reward long-term commitment, the Bank is offering 20 bps higher rate of interest, over and above the regular callable deposits (Fixed Deposit which allows premature withdrawal), with senior citizens and super senior citizens getting 50 bps and 75 bps higher interest rate respectively.

With a minimum deposit value of Rs 50 Lakh and a maximum deposit value of less than Rs 2 Crore, customers can choose a tenure ranging from 12 to 240 months and enjoy the benefits on maturity, allowing them to align their investment strategy with long-term financial goals. The product is available to both resident and non-resident Indians, allowing a wider audience to benefit from this exclusive offering.

Deepak Gaddhyan, Branch & Business Banking Head, RBL Bank, said, “Traditionally, a higher interest proposition is offered for non-callable deposits with a value of Rs. 2 Crore and above. However, at RBL Bank we believe in empowering our customers and wanted to extend this offering to a wider range of client segments.  This innovative product offers a higher interest rate compared to regular Fixed Deposit, enabling customers to benefit from the power of compounding to meet their financial aspirations.”

Tata Motors Launches The Upgraded Nexon EV MAX XZ+ LUX

* Made feature rich with a Larger 26.03 cm (10.25 inch) Infotainment Screen, TFT High Resolution HD Display, 180+ voice commands, HD Rear View Camera and Wireless Android Auto & Apple Carplay

Tata Motors today launched the upgraded Nexon EV MAX XZ+ LUX at a starting price of INR 18.79 Lakh (ex-showroom, All India for the 3.3 kW AC charger). Enhanced with a superior and high tech feature upgrade, this top of the line variant of the MAX boasts of a 26.03 cm (10.25 inch) Touchscreen Infotainment system by HARMAN, high resolution (1920X720) High Definition (HD) display with slick response, Android Auto™ & Apple Carplay™ over WiFi, High Definition Rear View Camera, Heightened audio performance with sharp notes & extended Bass performance, Voice assistant in 6 languages, 180+ voice commands in six languages (English, Hindi, Bengali, Tamil, Telugu, Marathi), along with a new User Interface (UI), and will be available for bookings starting today.

Having sold more 45,000 units and covering approximately 800 million kilometers on the back of the reliable Ziptron technology, the Nexon EV is India’s #1 electric vehicle and currently holds 26 records including the Fastest EV to complete the Kashmir to Kanyakumari, 4000km in under 4 days. It has been the forerunner in Tata Motors’ electrification drive and has successfully cemented its place as the best-selling EV in India. The growing demand for electric vehicles has also prompted Tata Motors to extend its touchpoints far and wide. With a current network of more than 270 dealers covering 188 cities and an electrified line up of feature rich products, Tata Motors stands strong to further India’s electrification journey by providing enhanced experiences to EV buyers, offering intuitive technology at their fingertips.

Over 1,000 Future Leaders Of Indian Agriculture And Agribusiness To Be Honored By Indian Agribusiness Leaders

The Future of Agriculture Leaders in India (FALI), an initiative supported by leading agribusiness entities – Godrej Agrovet Ltd., UPL, Jain Irrigation, StarAgri, Rallis etc. –to make agriculture attractive for the next generation today kickstarted its 9th Annual Convention at Jalgaon’s Jain Hills. Bringing together over 1,000 school children and grooming them into the future leaders of Indian agriculture and agribusiness, the convention which is hosted by Jain Irrigation will be held over two days. These standard 8 and 9 students from 155 government-aided rural schools in Maharashtra and Gujarat are the winners of business plan and tech innovation contests in their schools. The convention marks the culmination of a highly effective programme.

Having empowered over 13,000 students, the goal of FALI and the programme is to make agriculture attractive to the next generation. As part of the programme, rural students participate in interactive classroom sessions and practicums.  They have regular field visits, webinars and FALI Innovation films to expose them to innovations in agriculture and agro-enterprise; and they compete in business plan and innovation contests, with the winners getting to go to the annual FALI Convention. 

The Association for Future Agriculture Leaders of India is a Section 8 company. Its directors are: Nadir Godrej, Chairman & MD of Godrej Industries Ltd and Chairman, Godrej Agrovet Ltd.; Rajju Shroff, Chairman of UPL; Anil Jain, Deputy Chair and CEO of Jain Irrigation which hosts the annual FALI Conventions; and Nancy Barry, President of NBA Enterprise Solutions to Poverty. The major CSR contributors to FALI are Godrej Agrovet Ltd, UPL, Jain Irrigation, StarAgri, Rallis and Omnivore, with several other leading agribusinesses and banks likely to join in supporting FALI this fiscal year. 

Nadir Godrej, Chairman & MD of Godrej Industries Ltd and Chairman, Godrej Agrovet Ltd., who led the Working Group which created FALI and served as the Founding Chair, says: “Last year, when Godrej Agrovet Ltd. pioneered the FALI alumni internships, our managers were deeply impressed with the knowledge, maturity and passion of alumni who had just completed 12 standard, most exceeding performance of university students who have been interns at our company. We would be interested in hiring most of these interns when they complete their higher education.” 

Over 95% of past students and their parents say that FALI already has transformed their attitudes toward agriculture as a career.  They now see modern agriculture and agro-enterprise as an attractive future and they say that FALI has given them the tools that they need to succeed.   Most students pursue higher education, mainly in agriculture, science and engineering, while continuing to influence practices on their family farms.

Rajju Shroff, who chaired the FALI 8 Convention, says, “I am deeply impressed with the knowledge of FALI students, the quality of their business plans and their passion for modern agriculture.  With FALI growing by 25% a year, we will have over 250,000 alumni by 2031.  These graduates will transform Indian agriculture.”

With over 33,000 alumni, this organisation has built internship, scholarship and venture funding programs for alumni which most companies that support the core FALI program fund directly.  This encourages FALI students at critical points in their young lives to reinforce their knowledge of and commitment to agriculture and agro-enterprise. 

Anil Jain, CEO of Jain Irrigation, says, “We are thrilled to be hosting once again the annual FALI Convention.  It is truly rewarding to provide through FALI a unique opportunity to these young leaders to build their passion and commitment to transforming Indian agriculture and agro-enterprise. Our father went from a small village to build Jain Irrigation, and these students can do the same or more.” 

iDesign.Market Secures $200,000 In Pre-Seed Funding For Proptech SaaS Platform

iDesign.Market, a Software as a Service (SaaS) startup catering to Interior and Construction Companies, has successfully raised $200,000 in a pre-seed funding round. The investment comes from prominent entities such as Jaipur Rugs, and a consortium of angel investors to a captable that already includes PropTech experts such as Brigade REAP. The capital infusion will be utilized to bolster the company's technological infrastructure, expand the talent pool, and fuel its overall growth trajectory.

Established in 2022 by Ashish Dhingra and Sunil Bhakuni, iDesign.Market offers a user-friendly workflow management platform designed to facilitate team collaboration and streamline business operations for Interior and Construction Companies.

"Ashish and Sunil bring a formidable combination of domain and technology expertise to the table. They have demonstrated a very early solution market fit reflecting their ability to offer straightforward and efficient solutions to an industry known for its complexity and disorganization. With digital transformation on the rise we firmly believe that iDesign.Market will play a pivotal role in transforming the interior and construction ecosystem in India and internationally." said Yogesh Chaudhary, Director at Jaipur Rugs.

“This is a well-earned validation for iDesign.Market that is addressing some long-standing inefficiencies and technology gaps in the Interior and Construction industry. The ecosystem is going through a significant transition from an unorganized fragmented market to rapid digital adoption which will grow manifold in years to come,” Nirupa Shankar, director, Brigade REAP. Brigade REAP is the acceleration and investment arm of the real estate developer Brigade Group that focuses on start-ups in the PropTech and ClimateTech space.

iDesign.Market's enterprise version of the SaaS platform has already garnered significant adoption among leading Design & Construction companies, including Magppie Kitchens, Essentia Environments, and Alsorg India. The company reports a steady monthly growth rate of 25 percent in user acquisition, according to its official statement.