Category: Business

 
With its scale and structured implementation, the deployment is expected to serve as a model for expanding electric mobility through local partnerships across Southeast Asia.

The deployment builds on a memorandum of understanding signed in October 2025 between Xentro Group and Green GSM. Initially planned at 2,000 vehicles, the fleet has since been expanded to 2,500, reflecting growing operational confidence and long-term commitment from both parties. The Rizal rollout marks the first phase of implementation, with further expansion expected across Metro Manila and adjacent areas.

At the center of this initiative is a partner-led operating model that combines local market leadership with a standardized global platform. Green Xentro leads on-the-ground execution, overseeing operations, driver management, and local market adaptation, while Green GSM provides a fully integrated electric mobility platform encompassing full electric vehicles, technology infrastructure, and standardized service protocols.

The platform is designed to ensure operational consistency at scale, offering real-time fleet monitoring, centralized safety management, and consistent service delivery standards. Each vehicle is equipped with GPS tracking, CCTV, and dashcams, as well as emergency features such as panic buttons, all connected to a 24/7 monitoring center. The entire fleet is also covered by comprehensive insurance policies, reinforcing safety and reliability.

Passengers can expect a more reliable and predictable travel experience, with standardized service quality and fully electric, air-conditioned vehicles. Services are offered with transparent, value-driven pricing and support multiple payment options, including cash and digital platforms. Rides can be accessed via street hailing or the Green GSM mobile app.

On the supply side, the model introduces a salaried driver system to enhance income stability and professional standards in the transport sector. Drivers earn a fixed monthly salary, performance-based incentives, and full statutory benefits, along with structured training programs focused on safety, service quality, and electric vehicle operations.

Beyond mobility, this rollout is expected to boost local economic activity through job creation and ecosystem development, supported by an expanding EV charging network across commercial hubs within the Xentro system. As a fully electric fleet, the deployment also helps national efforts to cut emissions and improve urban air quality, aligning with broader policy goals for energy transition and sustainable urban growth.

Mr. Noel M. Ignacio, CEO of Green Xentro, shared: “We see this as a long-term investment in building a transport system that is more reliable, more structured, and better aligned with the needs of Filipino communities. By combining electric vehicles with a professional driver model, we are creating a service ecosystem that elevates everyday journeys while also improving the quality of livelihoods for drivers. Over time, we believe this approach can help set a new standard for public transport one that balances efficiency, sustainability, and human-centered service.”

Mr. Dao Quy Phi, Managing Director of Green GSM Southeast Asia, said: “This is not just a fleet deployment. It represents the early stage of a scalable model where strong local partners lead market execution, while Green GSM enables growth through a unified electric mobility platform. We believe this approach can unlock a more practical pathway to green mobility—one that is not only scalable, but also adaptable to the realities of emerging markets. By combining global standards with local expertise, we aim to accelerate adoption in a way that is both commercially viable and operationally sustainable over the long term.”

Green Xentro is among the first international partners to adopt the Green GSM operating model. Developed and refined in Vietnam through extensive collaboration with multiple stakeholders, the model has played a key role in shaping a highly integrated and scalable electric mobility ecosystem. Its rollout in the Philippines marks a significant milestone in the model’s global expansion, thoughtfully localized to suit market conditions while upholding consistent standards of safety, service excellence, and user experience.

By Manoj Soni, CEO of YoloBus & and EasyGreenMobility

The electric mobility revolution in India is now taking place not only with two wheelers and buses in large cities, but also with longer distance bus operations connecting cities. While there is a bus industry that has operated for many years connecting cities, it has historically operated as a fragmented marketplace that has not adhered to standards of reliability and quality of service like the airlines and railroads have. This means that the bus industry has always been critical to providing long-distance transportation for millions of people in India. However, this industry is on the verge of transformation.

The rapid emergence of battery technology, investment in charging infrastructure through public-private partnerships, and government policy support at both the central and state levels all contribute to the feasibility of electric intercity bus operations.

However, the shift towards electric intercity travel is not being driven by supply alone  it is equally a response to evolving consumer expectations. Reliability and punctuality are now the most critical elements to the intercity bus traveller. Previously, price was usually the most important element to consider; now, bus passengers want buses to depart at their scheduled time, have a seamless booking and tracking experience, and have the same level of dependability as an airline or railroad passenger.

This is where electrification and digital infrastructure begin to intersect meaningfully.In terms of intersectional electrification and digital infrastructure, electric fleets are an excellent Example for how to create structured, technology-driven systems for operational efficiency. From optimising route planning through predictive maintenance to real-time performance monitoring to enhanced performance tracking, there are many opportunities to build operational enhancement into your fleet’s operation.

The development of organised technology-led intercity mobility platforms is also accelerating this transition. These platforms bring standards, transparency, and user-focused design into the intercity bus ecosystem, creating a new definition of what bus travel in India can be. It is now not only cost-effective but also more sustainable, convenient, and enjoyable than ever before.

The transition from diesel to electric bus fleets supports India’s overall sustainability objectives since, by nature, distance and long-haul routes produce a high level of CO2 through transportation emissions and that, converting a portion of diesel-powered long-haul intercity bus routes to electric power has the potential to produce not only direct reductions in CO2 emissions but improve overall operational efficiency over time to future reduce costs per mile travelled.

To achieve sustainable growth of the intercity electric transportation system, ongoing dedication to key areas is necessary. For example, building out charging stations along highways needs continued investment, coordination between private and public entities, and optimisation of route economics.

Further, changing perceptions of intercity buses as mere commodities, to that of being an integral part of India’s overall mobility system, requires a collective re-think.

Collaboration across all segments of the mobility sector is rapidly increasing. Mobility providers, OEMs and government agencies are coming together to offer integrated solutions that provide vehicle technology along with digital platforms and infrastructure.

Whereas just a few years ago these developments seemed like a distant reality, they are now becoming a tangible state of operation.

With the convergence of electrification, digital innovation, and shifting consumer preferences, the intercity mobility ecosystem in India is on the verge of a total reset that will be cleaner, smarter and much more reliable than ever before.

Mumbai, Mar 24: Capri Global Capital Limited, a leading non-banking financial company (NBFC), has secured ratings from two leading global rating agencies, Moody’s Ratings and Fitch Ratings, marking a significant milestone in its growth journey and reinforcing its strong credit profile.

Moody’s has assigned the company a first-time ‘Ba3’ Corporate Family Rating (CFR) with a stable outlook. Fitch Ratings has assigned Capri Global a ‘BB- (Stable)’ Long-Term Issuer Default Rating (IDR), along with a ‘B’ Short-Term IDR and a ‘BB- (Stable)’ Local Currency Long-Term IDR.

These ratings reflect Capri Global’s diversified lending portfolio, improving asset quality, strong capitalisation, and continued focus on prudent risk management. The stable outlook from both agencies underscores confidence in the company’s ability to sustain its growth momentum while maintaining financial discipline.

Commenting on the development, Mr. Rajesh Sharma, Managing Director, Capri Global Capital Limited, said:

“Securing ratings from both Moody’s and Fitch is a significant milestone for Capri Global and a strong validation of our business model, governance standards, and risk management practices. These ratings reflect the strength of our diversified lending platform and our consistent focus on building a resilient, scalable franchise. We remain committed to maintaining high asset quality, pursuing disciplined growth, and enhancing our access to diversified funding sources to support our long-term strategic ambitions.”

The ratings also recognise Capri Global’s ongoing efforts to enhance its funding profile, improve operational efficiencies through technology adoption, and expand its presence across underserved and emerging segments.

With a growing footprint across India and a focus on financial inclusion, Capri Global continues to deliver tailored financial solutions while maintaining a prudent and risk-aware approach to growth.

Jindal Steel has commissioned its third Basic Oxygen Furnace (BOF-3) at its integrated steel complex in Angul, Odisha, marking a major milestone in its capacity expansion programme. With this addition, the company has completed a 6 million tonnes per annum (MTPA) expansion, significantly boosting production capabilities at the site. The Angul plant’s crude steel capacity has now risen to 12 MTPA, making it one of the largest single-location integrated steel facilities in India. Overall, Jindal Steel’s total steelmaking capacity has increased to 15.6 MTPA, including operations from its Raigarh plant.

The expansion also includes upgrades across key infrastructure such as coke oven units, the cold rolling mill (CRM) complex, and other upstream and downstream facilities, along with the integration of BOF-2 and BOF-3 systems. The company stated that the entire project was completed within the planned timeline, ensuring smooth commissioning of all units.

The increased capacity is expected to enhance production efficiency, improve plant utilisation, and support better cost optimisation for the company. Industry experts believe such large integrated facilities strengthen supply chain efficiency and help meet rising domestic steel demand driven by infrastructure growth.

The expansion also aligns with India’s broader industrial strategy of boosting domestic manufacturing and advancing the vision of self-reliance in the steel sector under Atmanirbhar Bharat. With infrastructure development accelerating across the country, the enhanced steel output from Angul is expected to support key sectors such as construction, railways, and manufacturing, further strengthening India’s industrial growth story.

Mar 25: Broadway, the experiential retail store that blends shopping, culture, and community has officially opened doors to Punekars with its very first city store at Kopa Mall. Spread across 25,000 sq. ft, Broadway Pune houses 200+ brands across fashion, beauty, wellness, and lifestyle – set inside immersive spaces, designed for discovery. Broadway as a concept is built on experiences: events, live workshops, exclusive launches, and cultural programming that turn retail into a destination, making shopping memorable and social.

 Some of the distinguished brands that add to Pune store roster include Comet, Gully Labs, Culture Circle, Almost Gods, Arks, Kingdom of White, Bear House, Rare Rabbit, Rareism, Uptownie, Sorta, Chapter 2, Cava Athleisure, Mokobara, Urban Jungle, Eume, Nashermiles, Beauty of Joseon, Biodance, NishHair, 52 Sundaze, Indewild, Latafa, Ultrahuman, Wellbeing Nutrition, Cosmix, SuperYou, Palmonas, Ivana— amongst others. 

The Pune outlet  also houses TheDopamine Room, a first-of-its-kind dedicated de-stress and sensory experience space. This innovation underscores Broadway’s philosophy of moving from transactions to transitions fostering holistic wellbeing and giving consumers a reason to spend time, not just money.

Mr. Sankalp Kathuria, Co-Founder & CEO at Broadway expressed his thoughts on the official debut,

 “We launched Broadway with an intent to redefine retail experience in a manner never done before. We have built Broadway celebrating our growth and success in Delhi and Hyderabad – and now it’s over to Pune. As one of India’s youngest cities, Pune is vibrant, cosmopolitan and culturally fluent with a younger consumer base that reflects a growing appetite for modern shopping experiences, just the kind of vibe Broadway is looking for. And we found the perfect launch pad in The KOPA by Lakeshore Group to bring Broadway to life. The mall’s strategic location—nestled in the heart of Koregaon Park’s bustling, upscale social fabric—combined with Broadway’s culture-first ethos, is where Pune’s progressiveness will meet Broadway’s creativity.”

Broadway, is an initiative led by Co-founders Vivek Biyani and Sankalp Kathuria, actor-entrepreneur Rana Daggubati, Apurva Salarpuria of Salarpuria Group, Anarock, Nikhil Kamath and Abhijeet Pai of Gruhas Proptech. Coming into force with support from Think9, a leading venture builder, Broadway is designed to usher in a new era of physical retail in India by providing a platform for 200+ new-age Indian consumer brands to interact with customers via a content-to-commerce model. 

With its Pune launch, Broadway has now firmly established a presence across 3 cities. Its first store opened at Ambiance Mall Delhi in September 2024, followed by Banjara Hills Hyderabad in March 2025. The much awaited launch of the Mumbai store is likely to happen in the next quarter.

JAKARTA, INDONESIA – 24 March 2026 – In Indonesia, where motorbikes have long dominated daily mobility, transitioning to a car has traditionally been seen as a major leap, one associated with higher costs, lifestyle adjustments, and urban constraints. However, the arrival of the VinFast VF 3 is rapidly reshaping that narrative.

For many first-time car buyers, especially those upgrading from motorbikes, the most striking impression of the VF 3 is not its technology, but its sense of relief. No more exposure to heat, rain, or fatigue from long hours navigating traffic, common realities in cities like Jakarta or Surabaya.

‘A small car, yet a whole world of its own’

One user described the experience as “stepping into a completely different world”, a space where they can lean back, relax, and actually enjoy the journey instead of enduring it.

Despite its compact footprint, the VF 3 offers a surprisingly optimized cabin. Its minimalist yet functional design ensures that every element serves a clear purpose, from seating layout to dashboard ergonomics. The air-conditioning system cools the interior quickly, a crucial advantage in tropical climates.

A particularly thoughtful design detail is the upright windshield, which helps reduce direct sunlight entering the cabin, an issue that many traditional sedans in Southeast Asia still struggle with. These seemingly small refinements collectively deliver a noticeably improved everyday experience.

More importantly, for many Indonesian families, VF 3 quickly becomes part of daily life: school runs, grocery trips, and weekend getaways. A compact car, yet a complete personal space on wheels.

Effortless driving, confident journeys

One of the biggest psychological barriers for motorbike users switching to cars is driving complexity. The VF 3 addresses this by making the experience intuitive and approachable.

With a light steering feel, tight turning radius, and a length of just around 3 meters, this mini-SUV is perfectly suited for navigating dense urban environments, a defining characteristic of Indonesian cities.

The gear selector, positioned conveniently behind the steering wheel, further simplifies operation, especially for first-time drivers.

Beyond ease of use, the VF 3 delivers a distinctly different driving experience thanks to its electric powertrain. Acceleration is smooth and immediate, allowing for responsive maneuvering in traffic. Even at speeds of 70-80 km/h, the vehicle maintains stability and a planted feel, giving drivers confidence on highways and intercity routes.

Notably, with a maximum torque of up to 110 Nm, the VF 3 exceeds expectations for a vehicle in its segment. It handles inclines and varied terrains with ease, proving capable even on more challenging routes.

When cost is no longer a barrier

Beyond user experience, economics plays a decisive role in Indonesia’s mobility transition, and this is where VinFastcreates a compelling advantage.

Unlike gasoline vehicles, electric cars offer significantly more predictable operating costs. Users are no longer exposed to volatile global fuel prices. Instead, electricity costs are generally more stable and easier to forecast.

More importantly, VinFast introduces an innovative battery subscription model, which has already received positive feedback in Indonesia. By separating the battery, the most expensive component, from the vehicle price, the company significantly reduces upfront ownership costs.

This aligns closely with Indonesian consumer behavior, where affordability at the point of purchase remains a key decision factor, even if long-term savings are evident.

VinFast further strengthens this advantage through a seasonal promotion: free battery subscription fees for two years for vehicles invoiced before May 31, 2026. Economically, this is highly impactful, as it effectively eliminates a major portion of early-stage operating costs.

When both initial investment and ongoing expenses are minimized, the barrier to switching from motorbikes or gasoline cars to EVs becomes dramatically lower.

A “golden opportunity” to go electric

Amid increasing volatility in global fuel markets, Vingroup has launched the “Trade Gas for Electric” program across multiple markets, including Indonesia.

The initiative provides an additional 3% discount on VinFast electric cars and a 5% discount on VinFast electric scooters for customers who switch from older gasoline vehicles.

At the same time, GSM Green and Smart Mobility is supporting this transition through discounted electric mobility services, allowing users to experience EVs firsthand before making a purchase decision.

Together, these efforts reflect a comprehensive ecosystem approach, not just selling vehicles, but enabling a complete shift in mobility behavior.

In a country where motorbikes have long been the default choice, the VF 3 introduces a new paradigm: compact, accessible, and intelligently designed mobility. It delivers not only convenience and cost efficiency, but also a tangible upgrade in quality of life, from protection against weather conditions to creating a private, comfortable space for families.

As urbanization accelerates and mobility needs evolve, solutions like the VF 3 are no longer optional. Ultimately, the reason many Indonesian users are willing to “ditch motorbikes without regret” is simple. They are choosing a better way to move, and a better way to live.

New Delhi, Mar 24: Less than two years after announcing a 40% expansion in its melting capacity, India’s leading stainless steel manufacturer, Jindal Stainless has commissioned the 1.2 million tonnes per annum (MTPA) stainless steel melt shop (SMS) in Indonesia, developed through the company’s joint venture, ahead of schedule. The company’s total melting capacity will hence be ramped up to 4.2 MTPA, including 3 MTPA in India.

Complementing this increase in the melting facility, the company is also gearing up to commission a new 1.1 MTPA Hot Rolled Annealed Pickled (HRAP) line, and 0.17 MTPA Cold Rolling capacity, in Jajpur, Odisha, by Q4FY27 and Q2FY27 respectively. This development is part of the earlier announced outlay of INR 1,900 crore.

To further strengthen its cold rolling capacities, the company has earmarked a fresh investment of INR 900 crore at Hisar and Kharagpur which are expected to be commissioned by Q2FY28.

These new and expanded downstream facilities will enable the production of thinner cold rolled products tailored for high-growth industries. Following these expansion projects, the company will be able to increase its Cold Rolling capacity from 2.05 MTPA in FY26 to 2.67 MTPA by FY28, an increase of 0.62 MTPA. Once all downstream expansion projects are commissioned, the total Cold Rolling capacity will account for 64% of the total melt capacity. With this concurrent enhancement in melting and downstream capacities, the company is targeting to achieve a sales volume of ~3.5 MTPA by FY29, delivering double-digit CAGR over the next three years.

Commenting on this milestone, Managing Director, Jindal Stainless, Mr Abhyuday Jindal, said, “The commissioning of the Indonesia facility ahead of schedule, alongside a significant push in downstream capabilities, reflects our commitment to raw material security and integrated approach to growth. While expanding our production footprint, we are equally focused on enhancing value addition through a stronger portfolio of thinner cold-rolled products. Collectively, these efforts will enable us to better serve evolving market needs and reinforce our position on the global stainless steel map.”

Commenting on this development, CEO, Jindal Stainless, Mr Tarun Khulbe, said, “Expansion in melt capacity and corresponding strengthening of downstream facilities speaks volumes about our commitment to fuel the Indian growth story. Our capacity and production enhancements are in line with the robust domestic potential of our country. With the activation of new capacities, we will unlock the next phase of growth for Jindal Stainless,  strengthening our vision to build world-class capabilities in stainless steel.”

Jindal Stainless remains focused on building a future-ready, value-driven stainless steel portfolio aligned with evolving market needs. By strengthening both its capacity and capabilities, the company is well-positioned to support India’s growth and self-reliance. At the same time, the company remains well-poised to strengthen its global customers base by expanding its presence across key and emerging export markets, including US, Germany, Italy, South Korea, and Japan.

Metal Park has signed a strategic lease agreement with Binghatti, establishing a collaboration focused on optimising Binghatti’s own construction supply chain through improved control, efficiency and material assurance.‍

The partnership reflects a growing shift among leading developers toward greater ownership of how critical construction materials are sourced, processed and delivered recognising that supply chain performance directly impacts project timelines, quality and cost certainty.

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Taking Control of the Construction Supply Chain

At the heart of every construction project lies steel from reinforcement and cut-and-bend for foundations to structural elements that define scale and durability. Through this agreement, Binghatti will utilise Metal Park’s integrated metals ecosystem to centralise key elements of its materials workflow, giving the developer greater visibility and control across its construction pipeline.‍

By working within Metal Park, Binghatti aims to:

· Secure consistent quality of reinforcement steel rebar products

· Improve coordination between material availability and project schedules

· Reduce reliance on fragmented suppliers

· Strengthen on-time delivery across multiple developments‍

For a high-volume developer, this level of control is increasingly critical to maintaining execution speed and construction standards.‍

A New Model for Developers

Metal Park’s ecosystem model brings together steel supplier, metal sizing and finishing services, storage, logistics and supporting service providers within one industrial environment. This structure enables developers to simplify how metals move from mill to site, transforming to semi or fabricated items and to be used in construction while traditionally fragmented procurement into a coordinated, performance-driven system.‍

While the agreement directly supports Binghatti’s internal construction needs, it also demonstrates a broader shift in how forward-thinking developers are approaching supply chain strategy moving from transactional purchasing toward integrated, service-led models.‍

Aligning Strategy, Quality and Delivery

For Metal Park, the partnership reinforces its role as an enabler of modern construction providing infrastructure and services that allow developers to retain control over quality and delivery without needing to build in-house industrial capability.‍

For Binghatti, the collaboration supports vertical alignment across its construction operations, ensuring that materials quality, services and timelines are managed with the same rigour applied to design and development.‍

The agreement signals a shared belief that construction excellence begins long before materials reach site and that integrated ecosystems can play a decisive role in improving efficiency, predictability and performance across the sector.

Bengaluru, Mar 24: TimBuckDo Innovations Pvt. Ltd. has transformed a standout moment from the business reality show Ideabaaz into a strategic collaboration by appointing actor Pratik Gandhi as its brand ambassador. What began as a compelling on-screen interaction has now evolved into a high-intent partnership, anchored not just in visibility, but in shared perspective and ecosystem building.

 This association reflects TimBuckDo’s approach of converting moments of relevance into long-term strategic value. The initial interaction, where Pratik Gandhi highlighted the lack of structured early work opportunities, created a strong alignment with the platform’s core mission. That alignment now extends beyond communication into contribution.

While Pratik Gandhi comes on board as the face of the brand, the collaboration is designed to go deeper. Within TimBuckDo’s communication and campaigns, he is positioned as a Chief Bro Officer (CBO), a symbolic role that reflects guidance, relatability, and trust.

The intent is to move beyond traditional celebrity endorsement and build a voice that feels closer to students. Through this lens, Pratik Gandhi emerges as a “big brother” figure, someone who brings lived experience, shares perspective, and helps students navigate their early journeys in the gig economy with more clarity and confidence. The collaboration also extends beyond communication, with Pratik Gandhi bringing in his perspectives to support broader ecosystem and strategic thinking. His journey through multiple early gigs before finding stability lends authenticity to this positioning, making the messaging both aspirational and grounded.

As a two-sided platform, TimBuckDo operates at the intersection of demand and talent supply, guided by a 60-30-10 execution framework focusing on employer acquisition, student onboarding, and brand-building. This collaboration is designed to strengthen all three levers by enhancing trust, relatability, and ecosystem engagement.

The move is backed by data-led validation across digital campaigns, campus activations, and interactions with 1,000+ students, which showed a clear lift in engagement, recall, and platform trust with Pratik Gandhi, making this a performance-driven decision, not just an endorsement.

Commenting on the announcement, the founders of TimBuckDo, Mythri Kumar and Apoorv Sharma, said, “We are excited to welcome Pratik Gandhi as we enter our next phase of growth. This is not a conventional brand ambassador partnership. Today’s generation engages with brands very differently; they value authenticity, relatability, and real stories. This collaboration is built on that shift, where influence comes from lived experience, not just visibility. We see this as a strong lever to deepen trust, drive participation, and strengthen the ecosystem.”

Sharing his perspective, Pratik Gandhi said, “I come from a phase where every early opportunity was a learning curve, but there was no guidance to navigate it. What TimBuckDo is building changes that. If today I can contribute to a platform that not only creates opportunities but also brings direction and confidence to students, that’s something I truly believe in. This is not just an association, it’s something I want to actively be part of.”

With this move, TimBuckDo aims to strengthen its positioning as a structured and scalable bridge between students and employers, while also building a more insight-led, guidance-driven ecosystem for early work opportunities in India.