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Srivaru Motors launches electric bike PRANA 2.0

Mohammed Fahad
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Srivaru Motors launches electric bike PRANA 2.0
  • The bike boasts a range of up to 250km on a single charge.
  • CEO says that Tamil Nadu alone accounts for over 40% of India’s electric vehicle demand, illustrating the state’s pivotal role in the national transition towards electric mobility.
  • By 2030, electric motorcycles likely to account for nearly 50% of the two-wheeler market, a remarkable shift from the current 3%.
  • Srivaru  also prepares to launch its range of electric scooters under the brand “ALIVE” in upcoming months.

The rapidly evolving landscape of electric mobility is witnessing an exciting development with the launch of the PRANA 2.0, an upgraded version of Srivaru Motors’ flagship electric motorcycle.

Priced at Rs2.55 lakh (ex-showroom), this new model signifies the company’s commitment to innovation and its ambition to carve a significant niche in the electric vehicle (EV) market.

Based in Coimbatore, Tamil Nadu, and backed by NASDAQ-listed SRIVARU Holding Ltd in the United States, Srivaru Motors is poised to play a pivotal role in the future of sustainable transportation.

The founder and CEO of the company, Mohanraj Ramasamy, emphasised the extensive research and testing that preceded the PRANA 2.0’s launch. Over the last two years, the company executed a thorough examination of its product line, resulting in enhancements that exceed one hundred new components compared to its predecessor, the original PRANA, which debuted in 2021.

The dedication to quality assurance underscores Srivaru Motors’ strategy to produce not just another electric motorcycle, but one that promises enhanced performance, reliability, and user experience.

Designed and manufactured at their modern facility in Sulur, near Coimbatore, the PRANA 2.0 boasts a range of up to 150 kilometres on a single charge, making it a viable option for urban commuters seeking sustainable transportation solutions.

Additionally, the introduction of the PRANA Elite, priced at Rs3,20,250, extends the range to 250 kilometres per charge, catering to a broader segment of consumers who may require longer-range capabilities.

Market ambitions

Srivaru Motors aims to sell about 10,000 units of the PRANA 2.0 in the domestic market while setting its sights on international exports, particularly to Southeast Asian nations such as Malaysia and Singapore.

The ambition is driven by the growing demand for electric vehicles in these regions, where infrastructure and market acceptance are already evolving positively.

Ramasamy mentioned that Tamil Nadu alone accounts for over 40 per cent of India’s electric vehicle demand, illustrating the state’s pivotal role in the national transition towards electric mobility.

Moreover, the domestic motorcycle market achieved exceptional revenues exceeding $25.6 billion in 2023, with projections indicating growth to $36.1 billion by 2027.

By 2030, it is anticipated that electric motorcycles will account for nearly 50 per cent of the two-wheeler market, a remarkable shift from the current 3 per cent. The statistic outlines a significant opportunity for companies like Srivaru Motors to expand their market share and influence within the burgeoning EV sector.

Retail network expansion

To support its ambitious sales targets, the company plans to establish a retail network that incorporates fewer than 100 branches. This network will include both company-owned outlets and franchise models, with a primary focus on metropolitan areas.

Ramasamy indicates that the rollout of this network may take one to two years, highlighting the company’s methodical approach to scaling operations and ensuring a robust market presence.

The  strategic decision to begin in urban centres aligns with global trends indicating that metropolitan areas are typically early adopters of electric vehicles due to greater environmental awareness, infrastructure readiness, and government incentives aimed at reducing emissions. Consequently, by targeting these markets, Srivaru Motors can effectively establish brand loyalty and trust with its customer base before expanding into tier-two cities and rural regions.

Commitment to innovation

Beyond the introduction of the PRANA 2.0, Srivaru Motors is also preparing to launch its range of electric scooters under the brand “ALIVE” in the upcoming months. The  diversification signifies the company’s commitment to addressing a broader segment of the mobility market, thus positioning itself as a comprehensive player in the electric vehicle sector.

Hangyo gets $25m to set stage for future growth

Ana Mary Joseph
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Hangyo gets $25m to set stage for future growth
  • Established and new-age brands alike have been successful in attracting substantial investment, indicating a robust confidence in the sector.
  • Companies that were once niche players are now scaling up and looking to enter new geographical markets or expand their product offerings based on consumer trends.

In a remarkable development for the Indian ice cream industry, Hangyo, a Mangaluru-based ice cream brand, has successfully raised $25 million (approximately Rs211 crore) from Faering Capital, marking one of the largest venture funding rounds for an ice cream brand in India to date.

The infusion of capital not only underscores the growing consumer appetite for frozen desserts in the Indian market but also highlights the emerging trend among investors to support innovative food brands with a strong regional presence.

Founded in 2003 by Pradeep Pai and Dinesh Pai, Hangyo is on the brink of a strategic transformation that promises to elevate its production capabilities, accelerate product innovation, and broaden its reach in key markets, particularly in southern India.

Uptick in demand

The ice cream market in India has been witnessing a significant uptick in demand, largely driven by changing consumer preferences, increased disposable incomes, and the proliferation of modern retail channels and e-commerce platforms.

Hangyo, with its diverse product lineup that includes cups, cones, sorbets, stick ice creams, tubs, and traditional kulfis, has positioned itself well to capitalize on this growing trend.

The company effectively utilises multiple distribution channels, including general trade, modern trade, and quick commerce platforms, thereby ensuring that its products are readily accessible to consumers.

With a robust presence in several southern Indian states—namely Karnataka, Tamil Nadu, Kerala, Goa, Andhra Pradesh, Telangana, and Maharashtra—Hangyo has established itself as a formidable player in the market.

The company boasts over 350 distributors and a retail network that spans more than 30,000 outlets. Such expansive distribution capabilities have allowed Hangyo to cater to a wide demographic, claiming to have served over 3 million consumers as of February of this year.

Hangyo’s profit soars

Financially, Hangyo’s performance has been impressive, particularly in light of the ongoing challenges posed by evolving consumer behaviour and competition.

The company reported a remarkable 50 per cent growth in revenue from operations, reaching Rs233 crore in FY23. In a testament to its operational efficiency and market relevance, Hangyo’s profit soared to Rs5.8 crore during the same period, an impressive nine-fold increase compared to previous years.

The growth trajectory not only reflects the company’s strong brand equity in its operational regions but also signifies its capability to adapt and flourish in a rapidly changing market landscape.

The recent funding round comes at a time when the ice cream segment is garnering interest from a plethora of investors. Established and new-age brands alike have been successful in attracting substantial investment, indicating a robust confidence in the sector.

For instance, brands like Hocco, NIC, and Go Zero have collectively raised significant capital, with Hocco securing $12 million, NIC attracting $31 million over two funding rounds, and Go Zero garnering $2.5 million in two funding rounds.

The trend suggests that investors recognise the lucrative potential within the ice cream market, driven partly by the paradigm shift towards health-conscious and innovative frozen dessert options.

Hangyo’s successful capital raise after more than a decade, with its previous fundraising occurring in August 2013, highlights the dynamic nature of the food and beverage industry.

Apple eyes leadership in health technology with Watch X

Mohammed Fahad
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Apple eyes leadership in health technology with Watch X
  • While the excitement builds ahead of September 10th event, Apple aims to reinforce its dominance in the wearable technology market and further its commitment to health and wellness solutions.
  • The incorporation of sleep apnea detection through blood oxygen monitoring could represent a significant leap for Apple’s health-tracking capabilities.

As the countdown begins to the highly anticipated September 10, 2024, event, technology enthusiasts and consumers alike are brimming with expectations regarding Apple’s latest innovation: the Apple Watch Series 10, also referred to as the Apple Watch X.

Unveiling not only this new smartwatch but potentially a suite of additional devices, Apple aims to reinforce its dominance in the wearable technology market and further its commitment to health and wellness solutions.

Enhanced functionality

Industry observers, including well-known Apple analyst Ming-Chi Kuo, anticipate significant changes in the design and functionality of the Series 10. Reports suggest a slimmer profile complemented by larger display options, shifting from the current 41mm and 45mm sizes to new dimensions of 45mm and 49mm.

The transition not only reflects a response to consumer demands for larger screens, which provide enhanced usability for notifications and apps, but also indicates Apple’s focus on aesthetics without compromising on performance.

The shrinkage of the physical watch casing may lead to a lighter device, making it more comfortable for all-day wear. Such a design evolution aligns with broader trends in the smartwatch marketplace, where consumers increasingly favor devices that blend style with cutting-edge technology.

The implications of a refined design extend beyond mere visual appeal; they reflect Apple’s ongoing commitment to delivering a user-friendly experience that promotes daily health and engagement.

Breakthroughs in health monitoring

One of the most exciting prospective innovations of the Apple Watch Series 10 lies in an expanded suite of health sensors. Dominating headlines is the potential introduction of features aimed at monitoring sleep apnea and hypertension, conditions that currently affect millions worldwide.

These enhancements indicate Apple’s strategic commitment to enhancing health management functionalities—a move in line with the trends highlighted in GlobalData’s recent market analysis.

The incorporation of sleep apnea detection through blood oxygen monitoring could represent a significant leap for Apple’s health-tracking capabilities.

Although this feature was temporarily removed from previous models due to patent issues, rumors suggest a renewed focus on reinstating it with promising new capabilities.

Such technologies may enable users to receive alerts regarding their sleep quality and physiological conditions, empowering them with actionable insights before medical consultations.

In light of GlobalData’s findings—that the sleep apnea diagnostic systems market is forecasted to grow from $905 million in 2023 to an estimated $1.3 billion by 2033—Apple’s investment in health technology appears prescient.

With sleep apnea often undiagnosed and having serious health ramifications, the demand for accessible diagnostic tools is rising sharply. The projected compound annual growth rate (CAGR) of 3.8% underscores a growing awareness around this public health issue, presenting a significant opportunity for wearable technology to fill critical gaps.

Competitive landscape

Apple’s competitors are not standing idly by in the health tech landscape. Notably, Samsung Electronics has recently gained groundbreaking attention with the FDA’s approval of a sleep apnea detection feature within its Samsung Health Monitor app in February 2024.

The competitive context heightens the stakes for Apple as it gears up for the launch of the Series 10, compelling the tech giant to innovate continuously. By developing and integrating features that can monitor sleep, Apple positions itself not just as a hardware manufacturer but as a partner in personal health management.

Tina Deng, Principal Medical Devices Analyst at GlobalData, emphasises that although smartwatches cannot replace comprehensive sleep studies, they can play a vital role in monitoring conditions like obstructive sleep apnea (OSA) over extended periods without complex setups.

The accessibility can serve as a catalyst for increased diagnosis and treatment of sleep disorders, addressing the significant gap in the awareness and identification of affected individuals.

As seen in recent trends, the market for smartwatches with health-monitoring capabilities is evolving quickly. The convergence of convenience, emerging technologies, and regulatory approvals like those secured by Samsung is driving consumer behavior, shaping a landscape where digital health devices are becoming a practical first step towards traditional medical consultations.

Furthermore, Apple is not only expected to debut the Series 10 but also to introduce the Apple Watch Ultra 3 and a third-generation Apple Watch SE.

The SE model’s redesign with a plastic case will likely broaden its appeal, aiming at consumers who prioritize cost-effectiveness without sacrificing essential health features.

The thoughtfulness in product diversification reflects Apple’s understanding of varied consumer needs across different demographics and price segments.

As the Apple Watch continues to evolve, it symbolises a broader trend toward the integration of artificial intelligence (AI) and remote health monitoring technologies in the consumer electronics sector.

The emphasis on facilitating user engagement with their health through easy-to-use features aligns with demands for greater accuracy and personalization in health management tools.

The trend is significant as it challenges traditional healthcare paradigms, paving the way for more adaptable and patient-centered solutions.

India mobile phone exports soar 40% to $6.5b

Ana Mary Joseph
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India mobile phone exports soar 40% to $6.5b
  • Currently, iPhone exports account for approximately 70% of total mobile exports from India.
  • Industry experts agree that the groundwork laid in recent years will enable India to capitalise on the increasing demand for mobile devices.

In the current landscape of global trade, the performance of India’s mobile phone exports emerges as a significant indicator of the country’s manufacturing capabilities and economic resilience.

The latest industry data reveals a remarkable achievement: exports of mobile phones from India soared to $6.5 billion during the first quarter of FY25 (April to July period), marking an impressive 40 per cent increase when compared to the same period in the previous fiscal year (FY23).

The upward trajectory is notably driven by the phenomenal success of Apple’s iPhones, reinforcing the notion that India is poised to become a key player in the international electronics market.

iPhone exports: Key contributor

Apple’s strategic initiatives, particularly the production-linked incentive (PLI) scheme introduced by the Indian government, have markedly influenced this growth.

Notably, iPhone exports exceeded $1 billion in July alone, reflecting a consistent performance throughout the fiscal period. Currently, iPhone exports account for approximately 70 per cent of the total mobile exports from India, underscoring Apple’s dominant position in the Indian market.

The substantial contribution is a testament to Apple’s commitment to expanding its manufacturing footprint in India, aligning its interests with the country’s economic growth trajectory.

The success of the iPhone 15, which has emerged as a top seller during this period, can be attributed to significant technological upgrades compared to its predecessors.
The allure of the iPhone brand, coupled with enhancements in features and performance, has propelled its sales, particularly in an increasingly competitive smartphone market.

As online sales continue to improve, Apple’s investment strategy appears increasingly fruitful, reinforcing its belief in the long-term potential of the Indian market.

Economic impact

Apple’s operations in the country reached $23.5 billion in value in the last fiscal (FY24). The Cupertino-based giant clocked nearly $8 billion in revenue in India in the last fiscal.

The impressive financial performance reflects not only the popularity of Apple’s products but also the successful implementation of its local manufacturing strategy.

Key suppliers such as Foxconn, Pegatron, and Tata Electronics (formerly Wistron) have scaled up their assembly operations in anticipation of the busy festive season, demonstrating the urgency and importance placed on maximizing production capabilities to meet rising consumer demand.

Finance Minister Nirmala Sitharaman highlighted the transformative growth of the mobile phone industry in India, noting a three-fold increase in domestic production and an astonishing 100-fold increase in mobile exports over the past six years.

The rapid maturation of the industry indicates not only a shift towards self-sufficiency but also the emergence of India as a robust export hub for mobile devices.

 Indeed, the electronics sector, which encompasses various technology goods, has experienced unparalleled growth, reaching a staggering $155 billion in FY23. Mobile phones, in particular, constitute 43 per cent of total electronics production, reflecting their pivotal role in the broader industry.

In FY24, total mobile exports reached $15.58 billion, registering a 40 per cent increase over FY23.

Reducing import reliance

One of the most significant developments in recent years is India’s remarkable stride towards reducing its reliance on smartphone imports.

Government policies have incentivized local manufacturing, leading to the domestic production of an impressive 99 per cent of mobile devices currently available in the market.

The paradigm shift has been instrumental in enhancing the country’s economic sovereignty while bolstering export capabilities.

Apple’s suppliers, including Foxconn, Wistron, and Pegatron, have been active participants in the government’s PLI scheme, which was announced in 2020 with the aim of boosting domestic manufacturing. Foxconn and Pegatron have established operations in Tamil Nadu, contributing to the local economy since commencing their production in 2021 and 2022, respectively.

Meanwhile, Samsung, another significant player, has engaged in the PLI scheme from its outset, with its operations centrally located in Uttar Pradesh. While the scheme has resulted in substantial investment in manufacturing capabilities, it is noteworthy that Pegatron’s participation will be limited to four years due to its later entry.

Despite challenges faced by Wistron during its transition to Tata Electronics, the assembly of iPhones has significantly ramped up, mirroring the broader trend of increasing mobile device production in India.

The current fiscal year marks a crucial point for Samsung, with FY24 being the culmination of its five-year participation in the PLI scheme.

HPE brings direct liquid cooled HPC capabilities to UAE

TCN Bureau
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HPE brings direct liquid cooled HPC capabilities to UAE
  • New facility addresses power consumption challenges by efficiently absorbing more heat with a liquid-based coolant solution and can reduce need for space up to 77.5% by allowing customers to place fewer, more tightly packed servers into the racks.

Hewlett Packard Enterprise (HPE) announced a new managed data centre hosting service in the UAE in partnership with Khazna Data Centres (Khazna), a leading provider of state-of-the-art hyperscale data centre solutions.

The new service supports the UAE’s national artificial intelligence (AI) strategy, which includes a series of AI projects with leading institutions in the region. The service provides access to a data centre facility fitted for end-to-end high-performance computing (HPC) technologies, purpose-built for AI, spanning compute, accelerated compute, software, networking and direct liquid-cooling (DLC).

Accelerating AI adoption

The investment in a DLC data centre, a significantly energy-efficient method compared to conventional air-cooling, supports the UAE’s effort to address rising power demands in the age AI, which is expected to grow by tenfold by 2026, according to the International Energy Agency. 

The new data centre facility addresses power consumption challenges by efficiently absorbing more heat with a liquid-based coolant solution, offering 20.7 per cent higher performance per kW than air-cooled solutions.

With DLC, the data centre facility can reduce the need for space up to 77.5 per cent by allowing customers to place fewer, more tightly packed servers into the racks.

To accelerate time-to-production, HPE Services, which provides worldwide, 24/7 onsite and remote support to install and deploy systems, worked closely with Khazna to optimise its Abu Dhabi data centre to run AI and HPC workloads.

Through HPE GreenLake, new or existing customers gain flexible options to scale and pay for services monthly.

Environment-friendly

“HPE is bringing its direct-liquid cooled HPC capabilities to launch the first data centre facility of this kind in the UAE to make it widely accessible for customers in the region to run AI and other compute-intensive workloads,” Ahmad Alkhallafi, managing director, Emirates & Africa at HPE, said.

“With a broad spectrum of technology, deployment, and payment options, organisations have a choice to responsibly accelerate AI adoption, while they work towards the UAE’s goal and timeline to adopt patterns that reduce environmental stress.”

Compatible with a large variety of GPUs and CPUs, the integrated liquid cooled data centre technology gives customers a wide range of choices, allowing them to meet current and future system requirements.

By lowering the energy consumption per workload, the efficiencies from direct on-chip liquid cooling will help customers on their journey to be responsible for managing the carbon emissions from AI’s power-intensive demand.

 “We are pleased to be helping HPE’s customers maximise their compute power to advance key initiatives in areas such as energy, financial services, health and life sciences, and manufacturing, while adopting IT sustainability best practices,” Hassan Alnaqbi, CEO at Khazna, said.

“Access to highly efficient data centre systems will play a key role in helping the UAE anticipate and take advantage of revolutionary technologies such as AI and to support its goal to make the economy more environment-friendly by providing world-leading data centre facilities.”

Wipro to modernise John Lewis Partnership’s IT infrastructure

TCN Bureau
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Wipro to modernise John Lewis Partnership’s IT infrastructure
  • Transformation project will help the UK retailer advance its industry leadership and future-proof its business to drive ongoing and sustainable growth.

India’s leading technology services and consulting company Wipro Limited has been selected by the John Lewis Partnership (JLP) to transform and modernise the firm’s IT infrastructure.

The transformation project will help the UK retailer advance its industry leadership and future-proof its business to drive ongoing and sustainable growth.  

As part of this engagement, Wipro FullStride Cloud will extend JLP’s current cloud infrastructure, Network and End user services for another four years.

Retail technology

The Wipro FullStride Cloud team will collaborate with JLP and Google Cloud in a strategic transformation of their X86 platform to the cloud, enabling them to unlock new business value by making them more agile, optimising operating costs, and streamlining business operations.

As part of this engagement, Wipro and JLP will investigate the adoption of innovative solutions that continue to reinforce their industry leadership and put the retailer at the forefront of retail technology and store modernisation.

David Hunn, CIO, John Lewis Partnership, said: “As we look to grow and modernise our business, Wipro’s comprehensive expertise in digital transformation and thorough understanding of our business needs make them the ideal partner. Our shared values of creating sustainable growth are exemplified in our strong and long-lasting relationship.”

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