Current Affairs - Business

Tata AutoComp Systems Ltd, a leading Indian auto components manufacturer, has announced plans to acquire Slovakia-based IAC Group through its British subsidiary, Artifex Interior Systems Ltd. This strategic acquisition will enhance Tata AutoComp’s presence in Europe, particularly in the automotive interiors segment. The IAC Group is well-known for producing interior components such as instrument panels, door trims, and consoles for leading global automotive brands. By integrating IAC Slovakia into its operations, Tata AutoComp will gain deeper access to European OEM supply chains, strengthen its manufacturing capabilities, and align itself with emerging industry trends like EVs and smart interiors.

Tata Motors has acquired Italian truck and bus manufacturer Iveco for €3.8 billion, marking its largest deal since the Corus acquisition in 2007 and its most significant move in the automotive sector since taking over Jaguar Land Rover in 2008. This strategic acquisition strengthens Tata Motors’ global position in the commercial vehicle segment by combining its dominance in India with Iveco’s strong presence in Europe and the Americas. The deal is expected to boost innovation in zero-emission transport, expand global market access, and challenge industry leaders like Volvo and Daimler, reinforcing Tata Motors’ ambitions to be a global CV powerhouse.

The cooperative sector has launched a new taxi service named ‘Bharat’ with the objective of competing directly with established players like Ola and Uber. This initiative involves eight major cooperatives, including the National Cooperative Development Corporation, under the banner of the Multi-State Sahakari Taxi Cooperative Ltd. With a financial backing of ₹300 crore and a starting fleet of 200 drivers operating across four states, the rollout is expected by the end of 2025. This move aims to strengthen the presence of cooperative ventures in the transport sector while promoting more community-driven economic models in public services.

ACKO, a leading digital insurance provider in India, has partnered with Tesla to provide insurance solutions for its electric vehicles as the company enters the Indian market. This collaboration is aimed at offering a seamless, fully digital insurance experience, from policy purchase to claim settlement. The plans will be specifically tailored to suit the unique requirements of electric vehicles, including Tesla’s high-performance models. By integrating insurance into the EV purchase process, this move simplifies car ownership and supports the broader adoption of electric mobility in India, aligning with the country's sustainability and clean energy goals.

The United Kingdom is set to invest €163 million in Eutelsat, acquiring a 10.89% stake in the satellite communication firm. Eutelsat, backed by the Bharti Group, is the world’s second-largest satellite communications provider, positioned as a competitor to Starlink. This investment increases Eutelsat’s capital raise from €1.35 billion to €1.50 billion and reflects the UK’s strategic move to diversify its state ownership in critical communication infrastructure. Alongside the UK’s investment, Bharti is also contributing an additional €150 million, reinforcing the company's global positioning and financial stability in the space communication industry.