Torque Pharma's “No Scars” Brand Honored As India's Most Trusted By Team Marksmen

Torque Pharma, one of India's leading pharmaceutical companies, has been recognized for its “No Scars” Cream as one of the most trusted brands in India, as announced by Team Marksmen, a renowned market research and consulting firm. This prestigious recognition underscores Torque Pharma's unwavering commitment to quality, innovation, and customer satisfaction. Team Marksmen, known for its comprehensive and impartial evaluation of brands across various sectors, conducted extensive research to identify brands that have earned the trust and confidence of Indian consumers. After thorough analysis and scrutiny, 'No Scars' emerged as a standout brand, revered for its efficacy and reliability.

Torque Pharma's ‘No Scars’ brand is well known for its Cream (a prescribed medicine), Face Wash & Soap, known for its astounding ability to effectively diminish the appearance of scars, spots, and marks. The ‘No Scars’ cream helps in fighting Melasma, a common skin problem that causes dark, discolored patches on the skin. ‘No Scars’ Cleansing Neem Face Wash is a gentle and effective daily facial cleanser that removes impurities and fights occasional acne without drying skin and the bathing soap is made from a blend of natural and organic ingredients, ensuring a gentle and soothing cleanse.

A.I.S Bedi, the Managing Director of Torque Pharmaceuticals said, “I am pleased to announce that our flagship brand, ‘No Scars’ has been recognized as one of India’s most trusted brands by Team Marksmen Daily. This accolade reaffirms our dedication to delivering quality healthcare solutions that empower individuals to embrace confidence and wellness. I would further like to thank our customers for their unwavering support and for making ‘No Scars’ one of the most trusted brands in India.”

Mandeep Singh, Executive Director of Torque Pharmaceuticals said, “We are thrilled to announce that our flagship brand ‘No Scars’ has been recognized as India’s most trusted brand by Team Marksmen Daily.  "Being recognized as India's Most Trusted Brand for 'No Scars' is a testament to the dedication and integrity of our team at Torque Pharma. This recognition serves as a validation of Torque Pharma’s steadfast commitment to innovation and excellence within the pharmaceutical industry.”

Rajesh Khubchandani, Co-Founder and CEO, of Team Marksmen Network, said, “Trust is no longer just a nice-to-have; it is a strategic differentiator for brands, and the Most Trusted Brands of India 2024 epitomizes this spirit. Through a rigorous, research-driven process, we have spotlighted brands that have prioritized trust by aligning their actions with their values, embracing transparency, and consistently delivering on their promises. In this way, they not only create thriving but also leave an indelible mark on the lives they have touched."

As Torque Pharma celebrates this milestone, the company remains steadfast in its mission to empower individuals to lead healthier and happier lives. With a diverse portfolio of products that cater to various healthcare needs, Torque Pharma continues to set new benchmarks for quality and reliability in the pharmaceutical industry.

For more information about Torque Pharmaceuticals and its 'No Scars' brand, please visit- (https://www.torquepharma.com/our-brands).

Rentokil PCI To Set New Standards In The Pest Control industry With The Acquisition Of HiCare

Rentokil PCI, India’s leading pest control service provider acclaimed for its expertise in pest control, has acquired HiCare Services Pvt. Ltd., a hygiene and pest management company via a share purchase deal. Rentokil PCI is part of Rentokil Initial plc.

This strategic alliance underscores Rentokil’s commitment to invest deeply within the Indian market. Facilitated through a share purchase deal, this acquisition includes HiCare’s customers, people and assets of the company propelling both entities towards sustained growth, innovation, and an optimistic future.

"The synergy stemming from this collaboration is a testament to our collective strength and shared vision," remarked David Lewis, Managing Director, Rentokil PCI. "This strategic acquisition solidifies our vision to delivering unparalleled services and spearheading groundbreaking advancements in the pest control domain in India. Together, we are stronger, poised to redefine industry standards."

The integration of Rentokil PCI's resources, expertise, and expansive market reach with HiCare’s specialized capabilities will empower the combined entity to maintain its pioneering role within the pest control industry. This amalgamation of strengths promises to reshape the landscape of Pest Control in India with the cutting-edge global standards in pest control.

"Our union with Rentokil PCI represents a significant milestone in our journey towards excellence," expressed Pinakin Shah, CEO of HiCare. "By combining our strengths, we are committed to amplifying our offerings, leveraging our shared expertise, and fostering unparalleled innovation within the industry."

With HiCare’s high quality commercial customer base and their headquarters situated in Mumbai, this strategic acquisition underscores Rentokil PCI's unwavering dedication to extending its footprint, enriching its capabilities, and reaffirming its leadership position in the Indian market.

The collaborative force between Rentokil PCI and HiCare sets the stage for unprecedented expansion, unparalleled service standards and innovation. By pooling resources, expertise, and unwavering commitment, the unified entity is poised to establish new benchmarks of excellence within the pest control industry in India.

About Rentokil PCI

Rentokil PCI is the leading pest control service provider in India. A Rentokil Initial brand, Rentokil PCI, was formed in 2017 through a joint venture (JV) between Pest Control India, the leading pest control company in India, and Rentokil, the world’s leading pest control brand. Rentokil PCI strongly aims to set new standards for customer service, having operations in over 300 locations in India. Rentokil PCI focuses on developing industry-leading service operations through the sharing of best practices, leading-edge innovations, and avant-garde digital technologies.

As the most trusted pest control and disinfection service providers in India, Rentokil PCI takes immense pride in its diversity, social responsibility, sustainability, and education initiatives. The expertise of the corporation is backed by its 6800+ employees and highly trained technicians (500+ Bird Pro certified employees, 550+ certified fumigators, and 35+ AFOs). At present, Rentokil PCI is serving a wide range of customers across industries - ranging from the largest multinational pharmaceutical, industrial, and food production companies to local, small-scale shops, restaurants, residential premises, and more.

Calling All Young Stars: Shine Bright At Embassy Academy’s Younique Talent Show & Kids’ Carnival!

Are you ready to witness the magic of young talent sparkle on stage? We're thrilled to announce Embassy Academy’s upcoming Younique Talent Show, where young stars will have the opportunity to shine brighter than ever before!

The Guest of Honour and Judge of the Younique Talent Show will be Prasad Bidapa, Bengaluru-based fashion stylist, consultant, and choreographer

About the Show:

This isn't just any talent show; it's a celebration of creativity, passion, and imagination! From singing sensations to dancing dynamos, from comedy kings and queens to mesmerising magicians – we welcome all talents, big and small, to take centre stage and showcase their extraordinary skills.

Why Participate?

Build Confidence: Showcasing talents in front of a supportive audience helps boost confidence.

Make Memories: Create unforgettable memories for your child and the whole family.

Prizes worth up to 2 lakhs!

·         Age Criteria for Participants

Ø  Group 1: 3 – 7 years

Ø  Group 2: 8 – 12 years

*Age as on 31st March 2024

·         Last date for registration: Hurry! Spaces are filling fast. The last date to register is 2nd April, 2024

·         Event date and time: 6th April, 2024; 12:30 – 6:00 pm

·         Venue: Embassy Academy, Plot No.831/1, Embassy Springs Nagamangala Village, Kundana Hobli, Taluk, near MS Engineering College, Devanahalli, Bengaluru, Karnataka 562110.

·         To Register Call: 9513338457/9413338460

About Embassy Academy

Embassy Academy spans over 5 acres at the heart of Embassy Springs, a 288-acre living space in the north of Bengaluru. The lush green campus offers world-class facilities with a technology-enabled curriculum and top-notch sports infrastructure. Equipped with smart classrooms, labs, studios, and activity halls, it prioritises quality education and holistic student growth. A space where spirited young minds can channel their creative and academic energies.

Embassy Education: Decades of Excellence

Founded by Embassy Group, we stand out from emerging educational startups by aligning ourselves with other esteemed global schools and offering comprehensive programmes beyond academics. We have been in the service of education since 2008, when we first laid the foundation for the prestigious Stonehill International School in Bengaluru. After 15 years of success, we blend best practices, safe spaces, and innovative learning to foster a diverse community of educators and students.

Telecommunications: Jan-24 TRAI Subscriber Data: Bharti Active Subs Pick Up Further

BUY

NIFTY 50: 22,462

The telecom industry’s VLR base rose by 2.7mn in Jan-24 vs. the 1.9mn increase in Dec-23. This was led by the reported subscriber base increasing by 2.2mn in Jan-24. While VIL’s VLR subscribers are down by 1.7mn MoM, Bharti/Jio saw VLR subscriber rise of 3.6mn/1.1mn, respectively. In terms of overall subscribers, Jio continued to report the highest addition for the 22nd straight month (at 4.2mn MoM in Jan-24), with Bharti lagging at 0.8mn adds. VIL reported subscriber loss of 1.5mn MoM, as the loss rate picked up from 1.4mn in Dec-23. Jio seems to have gained from the launch of JioBharat phone. Jio dominated the wireless broadband subscriber addition, with increase of 4.2mn; Bharti followed, logging a 2.4mn rise MoM. VIL’s wireless broadband subscriber-count was down by 0.5mn MoM. Jio’s wireline addition rate picked up further, with the addition of 0.25mn subs (vs. 0.23mn adds in Dec-23). Even as Jio and Bharti continue with 5G rollouts, the timing of the tariff hike remains the key trigger. VIL needs a sizable fund-raise to increase capex for restricting its subscriber loss. We continue to favor Bharti and Jio, among telcos.

Player-wise analysis

Bharti Airtel: Airtel added 3.6mn active subs in Jan-24 vs. 3.0mn active subs added in Dec-23. Its active market share is now 36.3%, up by 25bps QoQ. On reported basis, Airtel added 0.8mn subs in Jan-24 vs. 1.9mn in Dec-23. Active subs addition was supported by higher VLR MoM (99.6% in Jan-24 vs. 98.9% in Dec-23). Uttar Pradesh (UP), Kerala, and West Bengal were the positive contributors to VLR, while Karnataka, Mumbai and Bihar were the major laggards.

Reliance Jio: RJio added 1.1mn active subs in Jan-24 vs. 1.2mn in Dec-23. On reported basis, RJio added 4.2mn subs vs. 4.0mn in Dec-23, possibly supported by sale of JioBharat phones. However, active subs addition was lower vs. reported, as VLR for RJio reduced to 91.7% from 92.3% in Dec-23. RJio’s peak VLR was 94.5% in Jun-23. The reducing VLR points to its actual active subs being lower vs. the reported subs number. Karnataka, Madhya Pradesh, and Odisha were the main contributors to the VLR increase, while Tamil Nadu and Bihar were the major laggards.

Vodafone Idea: Vi lost 1.7mn active subs in Jan-24 vs. a 1.8mn loss in Dec-23. Its active market share was down MoM to 18.6% vs. 18.8%. On reported basis, its subscriber number was down 1.5mn QoQ in Jan-24 vs. loss of 1.4mn subs in Dec-23. VIL lost VLR subscribers in 17 of the 22 circles MoM in Jan-24. Mumbai was the major positive contributor to the VLR, while UP (East), Bihar, and Rajasthan were the major laggards.

Urban-Rural mix: Jio continues to lead with the addition of 1.9mn rural subscribers, followed by Bharti adding 0.9mn subscribers (0.2mn in Dec-23). This is led by Jio’s focus on converting more 2G users to 4G through its JioBharat phones. The highest urban mix was reported by Jio at 55.9%, followed by Bharti at 51.4%, and VIL at 51.3%.

Broadband subscriber base: Jio leads in both, wireless and wireline

Jio was the leader in wireless broadband subscriber additions, with 4.2mn growth MoM, while Bharti added 2.4mn broadband subscribers. VIL’s wireless broadband subscribers were down by 0.5mn MoM vs. 0.7mn MoM addition in Dec-23. Jio continued to consolidate its leadership position in the wireline broadband space, with 0.25mn additions (vs. 0.23mn additions in Dec-23). Bharti maintained its #2 position with 0.11mn additions (additions remaining flat MoM).

https://researchimgs.emkayglobal.com/emkay.png

Tata Motors Registered Total Sales Of 2,65,090 Units In Q4 FY24

Total PV Sales of 1,55,651 units, +15% YoY

Total CV Sales of 1,09,439 units, -6% YoY

Tata Motors Limited sales in the domestic & international market for Q4 FY 2023-24 stood at 2,65,090 vehicles, compared to 2,51,822 units during Q4 FY 2022-23.

Domestic sales of MH&ICV in March 2024, was 19,976 units vs 22,437 units in March 2023; In Q4 FY24 it was 50,643 units, compared to 54,435 units in Q4 FY23.

Domestic & International sales for MH&ICV in March 2024, was 20,551 units vs 23,074 units in March 2023; while in Q4 FY24 it stood at 52,186 units, vs 56,059 units in Q4 FY23.

Mr. Girish Wagh, Executive Director, Tata Motors Ltd. said, “FY24 began on a promising note for the commercial vehicles industry with the industry expecting to scale the previous volume peak achieved in FY19. The trend of YoY sales growth in volumes across most segments of H1FY24 moderated in H2 due to the combined effects of a high base, elections held across 5 states in Q3FY24 and upcoming General Elections in Q1FY25. The industry transitioned to BS6 Phase II emission norm and we used this opportunity to significantly enhance key attributes across our entire vehicle portfolio. Equipped with smarter technologies to deliver even better performance and value, the advancements have been well received by customers leading to overall sales of ~3,96,000 units in FY24.

In Q4FY24, domestic sales at 1,04,922 units were marginally lower than Q4FY23 sales of 1,12,145 units, which had benefitted from increased pre-buy due to BS6 Phase II transition. The M&HCV segment contracted marginally ~6% vs Q4FY23, with demand continuing from the government’s infrastructure initiatives, expansion in core industries, and sustained growth in e-commerce. The Passenger Commercial Vehicles segment continued to register robust post pandemic recovery with sales rising ~38% vs Q4FY23. Sales volume of small and light commercial vehicles reduced by 10% vs Q4 FY23 largely due to financing constraints experienced by the ‘First Time User’ category.

Going forward, with promising GDP growth outlook, incentives from government to improve productivity in both manufacturing and agriculture sectors, and continuing focus on infra related developmental projects, demand for commercial vehicles is expected to improve from the in latter half of Q2FY25. We remain cautiously optimistic about domestic demand while keeping a close watch on geopolitical developments, interest rates, fuel prices and inflation.”

Includes sales of Tata Motors Passenger Vehicles Limited and Tata Passenger Electric Mobility Limited, both subsidiaries of Tata Motors Limited.

Mr. Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd. and Tata Passenger Electric Mobility Ltd. said, “Passenger vehicle sales in India are projected to set a record in FY24 with over 4.2 million units sold supported by strong growth in SUV sales (SUVs expected to surpass 50% of overall sales in FY24 vs 43% in FY23) and rising popularity of emission-friendly powertrains. With sales of cars powered by traditional fuels (petrol and diesel) flattening, almost the entire incremental volume growth of FY24 is expected from rising sales of emission-friendly powertrains. EV and CNG segments are projected to post robust growth of 70% and 55% respectively in FY24 vs FY23, on the back of multiple new launches, growing charging infrastructure and CNG stations, significantly lower operating costs and growing consciousness among customers to be environment friendly.

In FY24, Tata Motors Passenger Vehicles (including EVs), posted its third consecutive year of highest ever sales with wholesales of 5,73,495 units (up 6% vs FY23) and retail sales growing around 10% vs FY23 (Vahan-based).  Although, no new nameplate was launched, our unique multi-powertrain strategy enabled us to deliver healthy growth with vehicles powered by CNG and EV contributing nearly 29% of overall sales. In CNG, our portfolio of four products with innovative twin-cylinder technology, grew over 120% vs FY23. The preference for Tata.ev products across both personal and fleet segments continued to grow and further strengthened our leadership in this segment with sales of 73,833 units and registering a strong 48% growth vs FY23.

In Q4FY24, Tata Motors Passenger Vehicles (including EVs) recorded its highest ever wholesales of 1,55,651 units, registering a growth of 15% vs Q4FY23. During the quarter, the highest number of EVs (20,640 units) were sold, posting a robust growth of 29% vs Q4FY23. In March’24, the company crossed sales of 50k units for the third consecutive month, led by new launches in CNG and EVs and continued strong response being received for the new Nexon, Harrier and Safari, launched in earlier quarters.

Going forward, we expect the demand for passenger cars to remain strong, although the high base effect may keep the growth rate in single digit. Customers’ rising preference for safe and green vehicles should result in double digit growth for sale of cars with emission-friendly powertrains supported by new launches and a stronger value proposition - emission-friendly, lower total cost of ownership and equipped with smarter features.”

AU Small Finance Bank And Fincare SFB Merger Effective April 1, 2024, Marking Completion Of First M&A Among Small Finance Banks

* AU SFB Balance Sheet to cross ~ ?1.2 Lac Crores and set to become a true pan-India banking franchise with 1 Crore+ customers and 2,350+ physical touchpoints; 9 states to have more than 100 physical touchpoints 

* Focus is to ensure smooth and seamless integration within the next 9-12 months and deliver best-in-class banking services and value to customers

* In accordance with the Reserve Bank India (RBI) approval dated March 4, 2024,

AU Small Finance Bank (AU SFB), India’s largest SFB, announced the amalgamation of Fincare Small Finance Bank (Fincare SFB) with and into AU SFB, effective today. This merger helps AU SFB to establish a robust pan-India retail banking franchise by leveraging complementary geographic footprints, diverse customer segments with a wider product offering and digital capabilities.

In an all-stock merger deal first announced on October 29, 2023, where the shareholders of Fincare SFB received 579 equity shares in AU SFB for every 2,000 equity shares held in Fincare SFB, the merger received final approval from RBI on March 4, 2024, with effective date of April 1, 2024. Earlier on January 23, 2024, Competition Commission of India ("CCI") granted its approval for the merger under the provisions of Section 31(1) of the Competition Act, 2002.

This is among the fastest merger approvals in Indian Merger and Acquisition (M&A) space, with all approvals received within a span of 4.5 months. With this, AU SFB becomes a formidable banking franchise with a combined base of 1 crore+ customers, 43,500+ employees, and a network of 2,350+ physical touchpoints across 25 states and union territories, having a deposit base of ?89,854 crore and balance sheet size of ?1,16,695 crore (all numbers are as on December 31, 2023, on proforma basis).

The focus now shifts to ensuring a smooth and seamless integration within the next 9-12 months and deliver exceptional banking services and value to the customers.

As part of this merger, Mr. Rajeev Yadav, former MD & CEO of Fincare SFB, has been designated as the Deputy CEO of AU SFB and shall continue to lead all key asset businesses of Fincare SFB, now housed within the Fincare Unit at AU SFB. AU SFB recently consolidated its operations into five business groups and ‘Fincare Unit’ shall become its 6th business group. Additionally, Mr. Uttam Tibrewal, Executive Director at AU SFB, has been elevated as Deputy CEO and Executive Director, AU SFB.

Post-merger, all 59 lakh plus customers of Fincare SFB will be able to experience and enjoy the best-in-class digital services and flagship products (both assets & liabilities) of AU SFB including its offerings like credit cards, QR code, video banking and AU0101.

To ensure seamless transition and minimal customer disruption due to the merger, both tech-led banks with strong customer orientation have established a dedicated task force and equipped its call centers to answer all customer queries.

The merger is also expected to provide AU SFB with enhanced access to South India, significantly expanding its distribution network. This increased presence will facilitate the distribution of the bank's diverse range of products and services to a wider customer base, strengthening its market position in the region.

Commenting on this transformative merger, Mr. Sanjay Agarwal, Founder, MD & CEO of AU Small Finance Bank, remarked, "Today marks a significant milestone in our journey of building a ‘Forever Bank’ and I take this opportunity to welcome the customers, shareholders, and employees of Fincare to AU family. This merger represents not just the amalgamation of two entities, but the convergence of our shared vision to redefine banking excellence in India. I would like to thank the Government of India and the Reserve Bank of India and all other regulatory authorities for their blessings and expeditious approval process. With this integration, I assure them of building a well-governed, always compliant and a stronger retail banking franchise that will, over the coming decades, contribute to the growing India story. This merger underscores our commitment to financial inclusion and with our combined strength, we can serve all segments of customers, including low-income households, HNIs as well as MSMEs, through physical and digital channels both, offering a holistic bouquet of products, including cross-border business that will get launched soon under the Authorized Dealer – Category I license (AD Cat-I)".

About AU Small Finance Bank

AU Small Finance Bank Limited (AU SFB) is a scheduled commercial bank and has established itself as the largest SFB in India since starting its banking journey in April 2017. Established in 1996 by Mr. Sanjay Agarwal, a first-generation entrepreneur, AU SFB boasts of a 28 years-legacy with deep understanding of the rural and semi-urban markets and customer segments. The Bank operates a sustainable business model that facilitates credit to the unserved and underserved retail and MSME customer segments while providing complete banking solutions to its deposit and branch banking customers. As a tech-led Bank, AU has a strong digital presence with innovative products and services like 24x7 video banking, credit card, personal loan, UPI QRs, payments, merchant lending, WhatsApp Banking, Chatbot etc. and its digital bank application AU0101 remains among the highest rated banking apps in India.

The Bank operates from 1,049 banking touchpoints across 21 States & 3 Union Territories serving 46.8 Lac customers with an employee base of 28,904 employees. As on 31st Dec’23, the Bank has a net worth of ?12,167 Crore, deposit base of ?80,120 Crore, Gross Advance of ?67,624 Crore and a Balance sheet size of ?1,01,176 Crore. AU SFB enjoys the trust of marquee investors and is listed at both NSE and BSE. It has consistently maintained high external credit Rating and is presently rated ‘AA/Stable’ by CRISIL, CARE Ratings and India Ratings, while the Bank’s FD is rated ‘AA+/Stable’ from CRISIL Ratings.

For more information, please visit the company’s website: www.aubank.in 

BMW Group And Tata Technologies Aim To Collaborate For The Development Of Automotive Software And Business IT Solutions

* The new Joint Venture (JV) will deliver automotive software, including software-defined vehicle (SDV) solutions for BMW Group’s premium vehicles and digital transformation solutions for its business IT +++ The JV will commence operations with 100 employees and intends to grow to a four-digit number in the following years * JV is to become part of BMW Group’s global network of software and IT hubs +++

The BMW Group and Tata Technologies, a global product engineering and digital services company, have announced that they have signed an agreement to form a JV with the aim to establish a software and IT development hub with locations in Pune, Bangalore and Chennai, India. The main development and operations activities shall be established at Bangalore and Pune. In Chennai, the focus shall be on business IT solutions. The execution of the JV agreement is subject to review and approval by the relevant authorities.

Embodying the ethos of ‘Engineer in India for the World’, the JV will leverage Tata Technologies’ digital engineering expertise and talent pool in India to contribute to the BMW Group’s strategic expansion of software coding capabilities across global IT hubs and 24/7 operations. The JV will focus on strategic software development, including solutions for software defined vehicles (SDV). In automotive software, the focus will be on automated driving, infotainment and digital services. In business IT, the emphasis will be on digitalization and automation of product development, production and sales. From the inception of this JV, 100 trained and experienced TATA Technologies professionals will ensure robust and immediate contribution to software projects. The JV is likely to grow quickly to a four-digit number in the following years.

Christoph Grote, Senior Vice President of Software and E/E Architecture at BMW Group said: “Our collaboration with Tata Technologies will accelerate our progress in the field of the software defined vehicle. In international comparison, India boasts a large number of talents with outstanding software skills, who can contribute to our software competence. Developing vehicle software for the BMW Group means working with top-class processes and tools, which in turn gives Indian software engineers the chance to shape state-of-the-art, premium automotive experiences in future fields such as highly automated driving and artificial intelligence.”

“The expansion of international DevOps* hubs has clearly proved to be a successful model for the BMW Group,” said Alexander Buresch, CIO and Senior Vice President of BMW Group IT. “I am therefore extremely pleased that we have found a strong and valued technology partner with Tata Technologies and are now also expanding our footprint in India.”

Commenting on the collaboration, Warren Harris, CEO and MD of Tata Technologies, said, “Our collaboration with the BMW Group demonstrates our commitment to providing top-tier solutions in automotive software and digital engineering to customers across the world. Aligned with our vision of engineering a better world, we’re excited to bring our expertise to the forefront, aiding BMW Group in engineering premium products, delivering great digital experiences for their customers and propelling its digital transformation journey in Business IT.”

Nachiket Paranjpe, President of Automotive Sales at Tata Technologies, commented, "In the evolving automotive landscape, the journey towards software-defined vehicle represents a pivotal shift in automotive software and vehicle development methodologies. We will leverage our deep domain knowledge and SDV expertise to collaborate with the BMW Group towards engineering vehicles that are not just technologically advanced but deliver exceptional experiences to consumers around the globe."

This collaboration between Tata Technologies and BMW Group represents a shared vision of innovation and excellence in automotive engineering and digital solutions.

Consistent, demand-oriented expansion of worldwide software expertise.

Thanks to the global distribution of the BMW Group's software hubs, software is developed and integrated in real time in the cloud around the clock. The global development team for vehicle software is already creating up to 140,000 software builds per day across the entire ECU software (1 build = 1 source code change/creation that can be executed in the vehicle software, including automated testing).

The BMW Group started its own automotive software development over 20 years ago. Since then, it has continuously expanded its global network of development teams for both automotive software and business IT solutions. For several years now, IT- & Software Hubs in Germany, the US, South Africa, India, Portugal (Joint Venture Critical TechWorks) and China (LingYue Digital IT Co. Ltd. and BA TechWorks) have been strengthening the premium manufacturer's software expertise. Combining software for digital vehicle environments and business IT synergistically according to the DevOps principle provides major advantages, particularly when it comes to backend and application development and operation. In total, over 9,400 people work in IT and software development for the BMW Group and its Joint Ventures worldwide and the company continues to build up skills successively and demand-based.

Just recently, the BMW Group had announced the signing of a JV contract with regard to the establishment of a new IT and software hub in Cluj-Napoca, Romania. In the future, this JV will provide development services for business IT in Europe, including software development for human resources, production, sales and BMW Group Financial Services. Execution of this contract is still subject to review and approval by the relevant authorities.

* DevOps is a method of software development that improves collaboration between developers (Dev) and operators (Ops) to enable faster and more efficient delivery of software and services.