Espresso: 25 percent of Tata Motors' volumes to be electric

Tata Motors bullish about electric vehicles

At least 25 percent of Tata Motors’ sales will come from electric vehicles (EV) in the medium to long term, said N Chandrasekaran, Chairman of Tata Sons, at Tata Motors’ virtual annual general meeting on Friday.

Toward this goal, the automaker will raise capital separately, he added. EVs currently contribute 2 percent to Tata Motors’ passenger vehicles volumes. It has sold more than 4,000 Nexon EV units since its launch last year.

AWS clocks nearly $15 billion in June quarter

Amazon’s cloud computing business Amazon Web Services (AWS) posted $14.8 billion in revenue in the quarter ended June 2021, growing 37 percent over the same period last year.

Its operating income for the quarter ending June 2021 was $4.2 billion, growing nearly 25 percent year on year.

AWS expanded its partnership with cloud-software pioneer Salesforce in the quarter. The latter will “embed AWS services for voice, video, artificial intelligence, and machine learning directly in new applications for sales, service, and industry vertical use cases,” AWS said in its stock exchange filing.

Second wave hits Aditya Birla’s lifestyle arm

The localised lockdowns and widespread restrictions between April and June 2021 dented the first quarter for Aditya Birla Fashion and Retail (ABFR), the lifestyle retailing arm of the Aditya Birla group, according to its stock exchange filing.

ABFR clocked consolidated revenue of Rs 836 crore in the first quarter of fiscal year 2022. It fell 54.5 percent sequentially, but was 151 percent higher than the quarterly-revenue a year ago.

Its e-commerce revenue grew by 3 times on its own platforms as well as third-party marketplaces, the company said. ABFR’s net loss of Rs 352 crore in the quarter ended June 2021 was lower than the Rs 410-crore quarterly-loss a year ago, but 1.8 times the net loss in the previous quarter.

Hero MotoCorp begins retail ops in Brazil

Two-wheeler manufacturer Hero Motocorp started retail sales in Mexico as part of a strategy to expand its global presence. It has partnered with a network of dealers, and distributors to sell its products in Mexico, and provide servicing options, Hero MotorCorp said in a stock exchange filing.

“Mexico will be a key market for us in the future, and this is the first step in this direction,” said Sanjay Bhan, Head of Global Business, Hero MotoCorp.

Dana invests in Ashok Leyland’s Switch Mobility

Switch Mobility, Ashok Leyland’s electric-mobility subsidiary in the United Kingdom (UK), sold a 1 per cent stake to Dana, a global supplier of drivetrain and e-propulsion systems, for $18 million.

Dana will supply electric drivetrain components for the company’s e-bus and electric truck. This includes e-axles, gearboxes, motors, inverters, software and controls, and electronics cooling, according to a stock exchange filing by Ashok Leyland.

Switch Mobility combines the electrical commercial vehicle operations of Ashok Leyland in India and Optare in the UK to secure a position in net zero carbon buses and light commercial vehicles, the filing added.