The investment is scheduled for the fourth quarter of FY2025-26 and is aimed at supporting the ongoing capital expenditure and growth plans of Switch Mobility.

This initiative aims to promote energy-efficient tyre manufacturing, strengthen domestic supply chains, and create employment opportunities, says JK Tyres.

The company says this move to unlock value from non-core assets is consistent with Rane Holding Ltd’s strategic objective of streamlining operations and strengthening financial performance.

The majority of this order are non-AC diesel buses.

The primary function of JBM EV Ventures Pvt Ltd is to offer electric vehicle (EV) battery services through subscription-based models, including leasing and rental options.

This strategic move underscores Valeo’s commitment to supporting India’s electric mobility transition.

Sales of light-duty passenger vehicles (7.5 tons and below) were up in the FY 2024/25 with rate of 5.9% to register 54,807 units (51,750).

Sales of buses and coaches (>7.5t gvw) in the FY 2024/25 increased by 23.4% to 65,580 units from 53,137 units in the previous fiscal year.

Sales of LCV goods carrier (truck) vehicles (gvw ≤ 7.5t) fell by 2.8% to 528,045 units in FY 2024/25 from 543,008 units in FY 2023/24.

Total tractor sales slipped 2.2% during FY 2024/25 to register 67,574 units compared with 69,115 units in the previous year (FY2023/24).

Sales of medium and heavy rigid trucks (7.5t gvw and above) experienced a decrease of 4.4% to 239,847 units in FY 2024/25 from 250,969 units in the financial year 2023/24.

This move is aimed at maintaining SMRP B.V.’s existing ownership stake in the company as REE raises fresh capital to support the commercialization of its order book.