Samvardhana Motherson Invests in REE Automotive

23 Sep 2024 CW Team

REE Automotive specializes in designing, developing, and integrating vehicle components into a modular platform for commercial electric vehicles (EVs), primarily targeting mid and last-mile delivery applications. The company operates manufacturing facilities in Coventry, UK, and Austin, Texas, US. REE reported a turnover of $1.6 million in 2023.

In addition to the equity investment, SAMIL will enter into a supply chain management agreement with REE Automotive. This agreement will allow SAMIL to manage the entire supply chain, including sourcing, managing, and integrating modules for REE. SAMIL has already secured orders for approximately 600 trucks from original equipment manufacturers, with execution planned by 2025.

In 2021, REE Automotive received $17 million in funding from the UK government as part of a broader $57 million investment coordinated by the Advanced Propulsion Center, supporting the UK’s goal to promote zero-emission vehicles and decarbonize its transport network.

In India, electric vehicle sales reached a record 1.53 million units in 2023, marking over a 50% increase from the previous year. EVs accounted for 6.4% of total automobile sales, according to the Ministry of Road Transport and Highways. Globally, the number of EVs is projected to surpass 100 million by 2026 and reach 700 million by 2040, reflecting significant growth from the 27 million registered at the beginning of 2023, according to BloombergNEF.

Samvardhana Motherson International (SAMIL), through its wholly-owned subsidiary MSSL Consolidated, is acquiring up to 3.64 million Class A shares in Israel-based e-mobility company REE Automotive for $4.122 per share, totaling a $15 million investment. This purchase translates to an 11% stake on a fully diluted basis and up to 19% on a non-diluted basis in REE Automotive. The transaction is expected to finalize within 30 days. REE Automotive specializes in designing, developing, and integrating vehicle components into a modular platform for commercial electric vehicles (EVs), primarily targeting mid and last-mile delivery applications. The company operates manufacturing facilities in Coventry, UK, and Austin, Texas, US. REE reported a turnover of $1.6 million in 2023. In addition to the equity investment, SAMIL will enter into a supply chain management agreement with REE Automotive. This agreement will allow SAMIL to manage the entire supply chain, including sourcing, managing, and integrating modules for REE. SAMIL has already secured orders for approximately 600 trucks from original equipment manufacturers, with execution planned by 2025. In 2021, REE Automotive received $17 million in funding from the UK government as part of a broader $57 million investment coordinated by the Advanced Propulsion Center, supporting the UK’s goal to promote zero-emission vehicles and decarbonize its transport network. In India, electric vehicle sales reached a record 1.53 million units in 2023, marking over a 50% increase from the previous year. EVs accounted for 6.4% of total automobile sales, according to the Ministry of Road Transport and Highways. Globally, the number of EVs is projected to surpass 100 million by 2026 and reach 700 million by 2040, reflecting significant growth from the 27 million registered at the beginning of 2023, according to BloombergNEF.

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Infrastructure Energy

05 Nov 2025

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Infrastructure Urban

05 Nov 2025

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..