Aeries,  a company dedicated to everything related to the World of Internet called “Internet of Things” now collaborates with Volkswagen forming an alliance that will work on Connected Car Technology subsequently called ‘Ventic.’ 

Ventic will be coming up with the new technology of the VW license System, which is supposedly to be brought into existence for all upcoming car models in 2020. Meanwhile, it was also stated by the german automaker that this joint venture is a customizable approach to Connected Car Technology. 

Regarding the development, Volkswagen Information Director, Adballah Shanti said,

Being essential in vehicle communication, this platform has flexibility, allowing third party amalgamation.

The venture is in partnership of 51% and 49% by Volkswagen and Aeries respectively. The main agenda of this collaboration is to focus on brand vehicles in North America, which will later start with the launch in mid 2020. 

Abdallah further added, 

Our connectivity platform expands beyond remote services and vehicle safety and security. This platform has inherent flexibility which enables new business models through third party integration and is foundational for V2X communications.

Mentioned with reference to V2X technology, this platform commits to support other future capabilities too. To be precise it can bring the Car-Net system that will allow users to change access and rules. The car-net system is pre-assumed to be the brain behind everything. 

There will be a unique technological platform built by Ventic which will allow the company to adapt technology in any vehicle model or region. 

Furthermore, Aeries announced about its new mobility suite. This is exclusively designed to enable the automotive equipment manufacturers to post linked vehicle programs in a very short while, amidst the existing suites. To help automotive manufacturers, the suite offers a cloud-agnostic IoT product. Offering best-in-class, modular software components that are needed to post newly linked vehicle programs.

Headquartered in America, the globally leading automaker and automotive tech firm, Rivian has broadcasted the news about the closure of its highly anticipated investment round worth a whopping sum of $1.3 billion. The fundraising event was led by T. Rowe Price Associates Inc., online retail giant Amazon.com Inc., renowned automaker firm Ford Motor Company, and BlackRock, which serves as one of the world’s biggest asset management platforms.

It seems that Rivian is striving hard to give a tough competition to its ruling competitor in the field of EV manufacturing industry, Tesla Inc. The concluded funding round was the fourth initiative undertaken by the company this year and is likely to strengthen the position of Rivian in the automobile sector. The firm has not disclosed any strategically important details about the funding round to the public. However, the reports suggested that there has been no increase in the members of the board.

This investment demonstrates confidence in our team, products, technology and strategy – we are extremely excited to have the support from such strong shareholders,

stated RJ Scaringe, who serves as the honorable CEO of Rivian.

Post this crucial announcement, Rivian had pooled in $2.2 billion from worthy investors who made its value reach the mark of an approximate figure ranging between $5 billion to $7 billion. The facts were revealed by the reports furbished by the investor website, PitchBook. The firm is gearing up to launch an all-electrically managed pickup truck named R1T and R1S SUV in the later part of the approaching year 2020. The two projects will be based on a Rivian-designed “skateboard.” The highly anticipated projects will be a perfect combination of electric motor, batteries, and controls and will be capable of supporting various body styles.

The current year had been quite fruitful for Rivian as it entered into several strategically important partnerships with the biggest names of varied industrial domains. In February, the firm broke the news about a $700 million worth funding investment round, which was chaired by Amazon Inc. Later in April, the firm stated that Ford Motor Company is making an investment of $500 million in the project. Further, in September, Rivian announced its team up with Amazon to build an electric delivery van. The firms have aimed to deliver 100,000 vans in 2021.

HDFC Bank Ltd has crossed the $100 billion mark in terms of market capitalization. With this, it has become the 3rd firm in India to achieve this landmark. The Bank ranks 26th on the list of the most valued banks and financial firms in the world, having a market capitalization of more than $100 billion. By crossing the $100 billion mark, HDFC Bank has also secured a place in the list of “world’s most valued companies” and ranked 110th on this list.

As per Bloomberg data, there are presently 109 companies featuring on this list, all of which have secured a market cap of more than $100 billion. The other two Indian companies that have made their way to this list are: Reliance Industries Ltd, having a market capitalization of $140.74 billion, and Tata Consultancy Services with a market cap of $114.60 billion.

Investors continued to purchase the shares of HDFC with a hope that it will show consistency in its earnings performance, clock a steady profit growth of 20%, will have the stable quality of the asset, and healthy growth of advances.

Analysts are of the view that there is a high probability of HDFC Bank delivering high credit growth. The prediction is in view of the bank, registering capital much higher than regulatory requirements and due to its focus being more on the retail segment. It is also thought that the bank is going to have better profit growth as they are concentrating on strengthening their productivity and digitization in addition to rationalizing the cost.

According to a survey, it was seen that HDFC Bank is targeting India’s semi-urban and rural population; therefore, the concentration of branches in these areas is higher with earning higher revenue and profit.

India’s biggest car manufacturer Maruti Suzuki has got into a partnership with private lender Federal Bank to provide dealer loans and retail car loan financing. The retail loan financing is going to be tailored according to the customers’ needs and offer customized solutions.

Earlier this year in August, Federal Bank had been inducted as an approved companion by Maruti for dealer inventory funding. The latest development carries forward the relationship further.

Maruti is confident that the new partnership is going to be a big help for its customers. The Executive Director of the company, Shashank Srivastava, said,

We are extremely delighted and confident that our collaboration with Federal Bank for providing retail financing solution will further benefit our customers.

In a securities filing with the Bombay Stock Exchange, Maruti Suzuki stated that the new partnership would allow the company to offer “comprehensive loan access facilities” to its customers. The auto sector in India is in the middle of a slowdown for several months now and many auto manufacturers have struggled to boost sales adequately.