Daimler Financial News

A multi-year deal of more than $300 million from Daimler Trucks that Cognizant Technology Solutions Corp. snatched from Infosys Ltd last week has one common thread: Ravi Kumar.Kumar, Cognizant’s current chief executive, was also instrumental in securing the Infosys contract during his stint at India’s second-largest software services provider in 2020, according to a person familiar with the matter.

Subscribe to enjoy similar stories. Infosys wants its employees to think like entrepreneurs. But so far, it’s mostly the senior staff stepping up.

Wipro Ltd, and Tech Mahindra Ltd have had new bosses within the last two years, whereas Parekh has been at the helm for more than six years and CVK for nearly eight. TCS, India’s largest IT services company, entrusted K. Krithivasan with the top job in June 2023 after Rajesh Gopinathan, who had steered the company for slightly more than six years since February 2017, stepped down.

TVS Supply Chain Solutions, one of the largest and fastest-growing integrated supply chain solutions providers in India, gained nearly 9% in today's early trade after the company won a new 5-year strategic contract with Daimler Truck Southeast Asia Pte Ltd, a Daimler Truck AG company, for Integrated Supply Chain Solutions (ISCS) service in Singapore. "This contract solidifies TVS SCS as a primary logistics partner for Daimler Truck AG, the world's largest manufacturer of commercial vehicles, reinforcing the organisation's commitment to delivering exceptional logistics services between Germany and the Asia-Pacific region.

Despite a long string of recalls that began more than two decades ago, about 6.2 million vehicles with potentially dangerous Takata air bag inflators remain on U.S. roads today

Workers at a Georgia school bus manufacturer have approved their first union contract

The deal covers workers at various plants in North Carolina.

Daimler India Commercial Vehicles on Wednesday said it plans to foray into the domestic battery electric segment with the launch of the all-electric next-generation light duty truck eCanter in the next 6-12 months. The all-new next-generation eCanter had its world premiere in Japan and Europe in the second half of 2022. «The launch of the all-electric eCanter in India, within the next 6 to 12 months, is the first step in our long-term strategy to decarbonise our entire product portfolio,» Daimler India Commercial Vehicles (DICV) MD and CEO Satyakam Arya said in a statement. However, the reality is that diesel ICE and carbon dioxide neutral propulsion technologies will continue to co-exist in the Indian market for the foreseeable future, he added.

Daimler India Commercial Vehicles (DICV) on Tuesday said that it has launched a pilot called Project Vruddhi which is using Artificial Intelligence (AI) for demand forecasting. Managing Director and CEO, Satyakam Arya underscored the disruptive and transformative role that AI is expected to play on operations going forward while addressing the media at the company's facility in Oragadam, which is on the outskirts of Chennai. «The commercial vehicle industry is a very complex business,» he explained. «We have BSIII to BSVI parts and different generations of vehicles that we have rolled out in 10 years. Forecasting demand for parts for those vehicles is absolutely essential. AI is helping to do that.»

BENGALURU : Global investment firm B Capital, which has backed prominent Indian startups such as Byju's, Pharmeasy and Meesho, on Tuesday announced the close of its second Opportunities Fund at $750 million. The fund saw participation from existing and new investors as well as global private and public pensions, family offices, high-net-worth individuals, and sovereign wealth funds, the multi-stage investment firm said in a statement on Tuesday.

By Joseph White

₹328.60 apiece after gaining 20% in the previous trading session. This remarkable uptick in shares can be attributed to the company's multiple order wins.

By Steven Scheer

(This Oct. 27 story has been corrected to change the name of the Daimler (OTC:MBGAF) Truck works council head to Matthias Brecht, not Matthias Krust, in paragraph 23)

₹28,953 crore) to acquire shares from its non-controlling interest holders in first half of 2023, said a report by PTI citing Walmart’s statement. During the first half of 2023, Flipkart received $700 million related to new rounds of equity funding for its subsidiary PhonePe, said the Bentonville-based Walmart in a US Securities & Exchange Commission (US SEC) filing. “During the six months ended July 31, 2023, the company paid USD 3.5 billion to acquire shares from certain Flipkart noncontrolling interest holders and settle the liability to former noncontrolling interest holders of PhonePe"said the report quoting Walmart’s US SEC filing.

Logistics service provider Mahindra Logistics has collaborated with Flipkart for integrated line haul solutions. Mahindra Logistics will provide a fleet of Heavy Commercial Vehicles, assistance in route management and network operations, and analytics for Flipkart’s operations across the country. Mahindra Logistics will operate 32 ft single axle heavy commercial vehicles for Flipkart in collaboration with Daimler India Commercial Vehicles, which will run on multiple national routes, across the country.

Daimler Truck says its chief financial officer Jochen Goetz has died

Siemens veteran, said “Just a few days ago, he convincingly and confidently presented the successful financial development of 'his company' to the supervisory board." Daimler Truck achieved a second quarter record adjusted return on sales of 10.3% for its industrial business, the company said last Tuesday, even as it faced rising monthly costs from inflation.

FRANKFURT (Reuters) -Daimler Truck's Chief Financial Officer Jochen Goetz has died in a «tragic accident,» the company said on Sunday.

The buoyant mood sparked by China’s latest economic support measures didn’t last long on Tuesday as European stocks and US futures wavered after policy makers’ warnings of higher-for-longer interest rates.

Some of the nation's largest truck makers have pledged to not sell new gas-powered vehicles in California by the middle of the next decade