Espresso: MG Motor ties up with Jio for IoT, connectivity

MG Motor, Jio tie-up for IoT

Automaker MG Motor will collaborate with Jio for connectivity solutions in its next release in India: a mid-sized SUV.

Jio’s eSIM, IoT (internet of things) and streaming solutions will enable MG users to access connectivity, infotainment and telematics, said Kiran Thomas, Director and President of Jio.

“This partnership will ensure our next mid-sized connected SUV further simplifies the driving experience, and ensures safety backed by technology,” said Rajeev Chaba, Managing Director of MG Motor India. It has sold more than 60,000 vehicles in two years of operations.

Google to make its own chip

The new series of smartphones in the Google Pixel series will be equipped with its own chip, Google Tensor. Until now, it relied on Qualcomm’s processors.

Google said it cannot unleash its most innovative artificial intelligence and machine learning features to improve photography and speech recognition with the current chips in the market. “We’ve run into computing limitations that prevented us from fully pursuing our mission,” said Rick Osterloh, Senior VP, Devices and Services, Google, in a recent blog post.

Yet, another company has decided to go its own way to manufacture chips. Earlier in the year, Apple said it will use its own chips instead of Intel’s for its computers.

ABB India powers Audi’s charging solution

Owners of Audi e-tron and Audi e-tron Sportback can charge their electric vehicles (EVs) with ABB‘s smart Terra AC wall box charger, which provides 11 kW power.

Audi’s customers in India will get ABB’s charging solution with their EVs as a part of the partnership between the two companies. It will help customers to charge the vehicles at home.

The charger can be connected through Wi-Fi, LAN or 4G SIM to sync with the app ‘ChargerSync’, and provide back-end integration for safety and flexibility.

Reliance to double PET recycling capacity

Reliance Industries (RIL) will set up a recycled polyester staple fiber (PSF) manufacturing facility in Andhra Pradesh. This will double its capacity to recycle PET, the plastic used to make bottles.

Currently, RIL recycles PET bottles at its Barabanki, Hoshiarpur and Nagothane plants, after which the produce is used as raw material to produce re-cycled polyester fiber. It has been recycling more than 2 billion post-consumer PET bottles a year that is converted into PSF.

Now, waste management company Srichakra Ecotex will manufacture PSF for Reliance and set up a PET flakes wash line in Andhra Pradesh. With this, RIL will be able to recycle more than 5 billion PET bottles annually.

PNB’s first quarter results

PNB Housing Finance got approval from the Competition Commission of India (CCI) for a stake sale to Salisbury Investments and Carlyle Group’s special purpose vehicle, Pluto Investments.

PNB Housing Finance reported a consolidated net profit of Rs 243.28 crore in the first quarter of fiscal year 2022. This was up by 91.51 percent, compared to the previous quarter. However, it fell 5.4 percent compared to the same quarter last year.

Its total income of Rs 1,692.9 crore in the first quarter of FY 2022 fell 7.68 percent sequentially, and was 9.6 percent lower than a year ago. The net interest income rose by 13 percent to Rs 550 crore, compared to Rs 488 crore in the same quarter last year.