Siemens signed an agreement to acquire the electric vehicle (EV) division of Mumbai-based Mass-Tech Controls for Rs 38 crore. The division is engaged in design, engineering and manufacturing of a wide range of AC chargers, and 30 to 300kW capacity DC chargers for various end applications for EVs.

Ola Electric has secured $300 million in its latest funding round, which will push up its valuation to $6 billion. The company had raised $200 million at a valuation of $5 billion in January 2022.

Automakers in India will be pumping in close to $10 billion to build infrastructure for manufacturing electric vehicles by the end of this decade. The move comes amid the electrification trend sweeping the automotive industry globally.

French consumer electronic brand Thomson has invested Rs 200 crore in a manufacturing plant for washing machines in Noida. The company will introduce a range of washing machines at disruptive prices starting with semi-automatic washing machines of 9 kg at Rs 9,499.

US-based StemCures will establish a manufacturing lab in Telangana with a focus on stem cell therapy to create the largest stem cell manufacturing plant in India. The facility will be set up with the investment potential of around $ 54 million.

HDFC Capital Affordable Real Estate Fund has invested close to Rs 560 crore in a housing project being developed by CCI Projects. The investment will be utilised for paying off the current debt and as working capital for development of upcoming phases.

The Tamil Nadu Industrial Development Corporation (TIDCO) has floated a Request for Proposal (RFP) for selecting a consultant for preparation of techno economic feasibility report for setting up Aerospace Industrial Park at Sulur in Coimbatore.

The state government has allocated over Rs 146 crore as reimbursement of the first installment of concessions to eight mega projects under the Uttar Pradesh Industrial Investment Policy. Most of these projects are those for which MOUs were signed during the February 2023 Global Investors Summit.

The administration of Jammu & Kashmir’s Union Territory has embarked on a Rs 3,000 crore infrastructure upgrade in Srinagar City. Upon the completion of this ambitious project, the markets of Lal Chowk and old Srinagar will exude the vibrancy and modernity reminiscent of bustling cities.