Power Finance Corporation's Q4 Net Profit Rises 23% to Rs 75.56 Bn

Electric Bus Supply to BEST Lags with 536 Delivered in Three Years

The delivery of electric buses to Brihanmumbai Electricity Supply and Transport Undertaking (BEST) has significantly lagged, with only 536 buses supplied over three years out of 2,100 ordered. Under a May 2022 contract, EveyTrans, a subsidiary of Olectra Greentech, was to complete delivery by May 2023.Olectra Greentech attributed the delays to disruptions in the supply of battery-fitted chassis from its technology partner, BYD. BEST has now stated that the remaining buses are proposed to be delivered by August 2025.The shortage of buses has caused longer waiting times and overcrowding. BEST’..

NRB Bearings Approves Rs 2 Bn Expansion to Support European OEMs

NRB Bearings Limited has approved a Rs 2 billion capacity expansion plan to support its growing pipeline of lifetime nominated business worth Rs 6 billion from leading European Tier one customers. This expansion will serve BMW, Stellantis, and Renault across their next-generation platforms, covering electric vehicles, hybrids, and internal combustion engine models.The company, nominated by Magna and other European customers, has co-developed advanced bearing solutions for these future platforms. To meet rising demand, NRB will invest over the next two years in expanding manufacturing capacitie..

Unions Raise Job Fears as Airbus Finalises Spirit Aero Factory Deal

Airbus has finalised an agreement to acquire several Spirit AeroSystems plants, prompting concerns from unions over thousands of jobs in Northern Ireland and Scotland. The deal follows Boeing’s move to repurchase parts of Spirit AeroSystems, twenty years after spinning it off for USD 4.7 billion, amid financial pressures worsened by the Boeing 737 MAX crisis.Airbus will take control of sites in Kinston, North Carolina, Belfast, Northern Ireland, and Prestwick, Scotland, as well as activities in Morocco, France, and Wichita, Kansas. Airbus will receive a $439 million payment from Spirit AeroS..