Your Tech Story

automotive

KPIT Technologies

KPIT Technologies, Founded by Two Accountants working In The Same Accountancy Firm.

Leave a Comment / Story, Tech Story / By

KPIT Technologies Limited is a leading Indian Multinational firm formerly known as KPIT Cummins Infosystem Limited. It was established in 1990, with its headquarters in Pune, Maharashtra, India. It is a software development company that provides software to automotive corporations and is an integration partner leading mobility to an advanced, clean, and safe future. Its business contains six domains i.e. Autonomous Driving, Connected Vehicles, Electric and Conventional Powertrain, AUTOSAR, Mechatronics, and Vehicle Diagnostics, working with leaders in the automotive and mobility industry.

It has its development centers in the USA, Germany, Korea, Japan, Thailand, India, and China. Over 7,000 (2019) employees are working in the firm specializing in Artificial Intelligence, embedded software, and digital solutions. The firm works on speeding up the clients’ performance of the next-gen technologies for the future mobility blueprint.

History

KPIT Technologies was founded in 1990 by Ravi Pandit and Kishore Patil, two accountants working in the same accountancy firm. In the year 2002, A firm known as Cummins Infotech merged its Information technology Department with KPIT, and from then on it was known as KPIT Cummins Infotech limited. After eleven years of this arrangement, Cummins technologies decided to reduce the shareholding in KPIT, focusing on its primary business in Generator and engine manufacturing. Therefore, in 2003, It changed its name back to “KPIT technologies”. It has created many software solutions one of the great ones is Revolo, which became the first ARAI- certified JNNURM II flexible with On- bus intelligent transport system. KPIT launched its new firm logo on June 6, 2019.

KPIT Technologies
Image source: www.punekarnews.in

Renowned Customers

Its renowned clients are BMW, Cummins, Paccar, Lafarge, GM, DICV, and others.

Revenue

The firm made its stock launch in 2019, which was 50 times oversubscribed. It has achieved a revenue of Rs. 2432.38 crores i.e. 320 million USD (2022), and has a net value/income of Rs. 274.24 crores i.e. 36 million USD.

Split-Up And Merger

In January 2018, an It company known as Birlasoft and KPIT decided to merge and promptly split up into two new firms. This proposal was approved by the competition commission of India. Afterward, two new firms, an IT firm, and an automotive firm were formed. The IT company was called Birlasoft and the automotive corporation was called KPIT Technologies. Birlasoft received 22 shares of the combined company for every nine shares they have in Birlasoft. KPIT received one share of every share they have in KPIT. According to the founders, this deal was made to segregate Information technology and automotive tech business to focus on each.

Founder – Ravi Pandit

Ravi Pandit is an Indian Entrepreneur, Co-founder, and chairman of KPIT Technologies Limited, born in Pune, Maharashtra. He holds a master’s degree in Management from MIT Sloan School of Management. He holds membership in two renowned institutes of India of chartered accountancy one is the Institute of Cost Accountants of India and the other is the Institute of Chartered Accountants of India. Also, He has been the president of Mahratta Chamber of Commerce, Agriculture and Industries between 2004-2006.

CEO – Kishore Patil

Kishore Patil is a great Entrepreneur, co-founder, managing director, and Chief Executive officer of KPIT. He led his team through its crucial time. His achievements are endless such as he was presented with the CA business leader Award in 2014 and the prestigious golden lotus national award.

Daimler Ag

Daimler Ag – Another Top Notch Company In The Automotive Industry

Leave a Comment / Story, Tech Story / By

Many big companies in the automotive industry have a very rich history. Some of the companies are carrying out their legacy passing on to the next generation. And in other cases, major investors acquire the company’s stake by breaking it into fragments. This is due to the heavy loss or many other internal reasons. Daimler is a world-renowned company for commercial vehicles and automobiles. It has its history date back to the late 1890s.

The company’s name Daimler AG has seen other forms in the past 120 years of its reign. But, it started originally with the name, The Daimler Motor Company Limited. Henry John Lawson, mostly known as Harry Lawson formed this company in 1896. Since then Daimler has faced different phases of leadership and expansion. Currently, its headquarters is situated in Stuttgart, Germany.

About Harry Lawson Founder of Daimler Ag

Born to Thomas Lawson and Anne Lucy Kent on 23rd February 1852, Harry showed great interest in designing bicycles. He was born and raised in the City of London. In 1873, the entire family moved to Brighton. This is when Harry started designing various types of bicycles. Today, he is popular as one of the first inventors of modern bicycles.

From designing bicycles, Harry showed interest in opening a motor car company. He saw a very vast opportunity in this industry, especially in Britain. Harry moved to Coventry in the 1880s and along with Frederick Simms founded the Motor Car Club of Britain in 1895. This was when the British government was carrying out the Locomotive Acts.

So, on 14th November 1896, Harry arranged the first London to Brighton Car run to celebrate the elimination of the Red Flag Act. This gave Britain the right to develop its motor industry. In Harry’s attempts to monopolize the British automobile industry, he bought many foreign patents and founded a series of companies. Some of the companies include The British Motor Syndicate, British Motor Traction Company, Motor Manufacturing Company, The Daimler Motor Company Limited, etc.

But, out of all these companies, only Daimler hit a huge success. And, the reason behind this was Gottlieb Daimler. Later, he suffered a lot of legal acquisitions regarding patent rights. He died on 12th July 1925.

Early History

On 1st May 1924, the companies, Benz & Cie and Daimler Motoren Gesellschaft (DMG) signed a mutual agreement and continued their respective production. But, on 28th June 1926, both the companies merged and the company became Daimler-Benz AG. And, the company declared that Mercedes-Benz is going to be the brand name.

The word Mercedes came from the company’s most successful series, the Mercedes. After DMG passed away in 1900, companies like Daimler Motor Company and Austro-Daimler used the brand name, Daimler. So, Daimler-Benz used the name Mercedes for business.

Many companies formed before World War II is mostly known for producing military vehicles as well. Daimler-Benz was no exception and thus created engines for German aircraft, submarines, and tanks. During the war, the company used 60,000 prisoners from concentration camps for production. The early phase of Daimler-Benz came to an end with the acquisition of MTU Friedrichshafen in 1995.

The Second Merger

In 1998, Daimler-Benz AG and Chrysler Corporation merged to form DaimlerChrysler AG. In the 1990s, the merger valued $38 billion and it was one of the largest deals cross-border deals. But, the merger brought a lot of lawsuits in the house. Some were settled and rest was dismissed. But, this affected the company’s share price. Questions were raised if the two companies integrated successfully or not.

So, in 2002 DaimlerChrysler introduced products that used elements from both sides of the merged company. After a few years, the company decided to sell the Chrysler unit to Cerberus Capital Management. The company announced that it faced a $1.5 billion loss in 2006. And, confirmed the Chrysler unit acquisition in August 2007. Cerberus acquired an 80.1% stake of Chrysler Holding LLC and the rest was still under Daimler AG. But, Chrysler was still in a very bad condition and declared bankruptcy in 2009.

Present Day

In 2015, Daimler AG bought Nokia’s Here digital maps division along with BMW and Volkswagen Group. Daimler started making smart investments and acquired many car start-ups. It wants to expand from just being a production unit of automobiles. In 2017, the company came into a joint partnership with Via, a ride-sharing app. The company also showed an interest in automotive cars and electric vehicles.

rivian

Robert RJ Scaringe : The Founder of Rivian; The Tesla of Trucks

Leave a Comment / Founder, Inspiration, Product, start-up, Story, Tech Story / By

It has been said tons of times that one must follow their passion to be successful in life. But if the passion has bad effects on the environment, would you still follow it? Maybe not. Or maybe you will figure out another way to pursue your passion. Robert RJ Scaringe had fallen in love with the process of car manufacturing, but when he realised that vehicles are the most responsible for the environmental pollution, he had to look for some other way to follow his dream. And, the electric vehicle was the only answer to it; better and energy-efficient. This way, he founded Rivian, an automaker and automotive technology company.

The idea behind the company is not only to protect the environment but is also to release people from car-ownership. Scaringe wants that nobody should own a car, but must have access to automotive vehicles through the press of a button, and whenever or wherever they need the vehicle, they get it.

RJ Scaringe was a little kid when he was introduced to a Porsche 356. One of his neighbours in Melbourne, Florida, was working on reinventing his Porsche and Scaringe got the chance to look at the process closely. This ignited an interest in mechanics for him. He became so interested in car manufacturing that he decided that he will be starting up a car manufacturing business when he was still in school. This led him to get a graduate and postgraduate degree in Mechanical Engineering, followed by a PhD in the same from MIT’s prestigious Sloan Automotive Lab.

rj scaringe
Image Source: bnnbloomberg.ca

This was the same time, when he encountered problems with normal motor vehicles, as these were one of the causes of pollution and other environmental issues. So instead of fuel engine vehicles, he started researching about the environmentally-friendly electric vehicles.

After receiving a PhD from MIT, RJ Scaringe started working in an MNC, where was learning on how to improve the efficiency of the motor vehicles. His jobs at various MNCs gave him enough exposure, and since Scaringe was always aware of his passion for entrepreneurship, he was also ready with a sorted plan.

In April 2009, he started Avera Automotive (later renamed Rivian Automotive in 2011), all by himself. Initially, RJ Scaringe hired 20 people as his first employees, holding the position of the CEO. He took things slow and focussed on more research. In 2011, the company shifted its focus from general electric vehicles to autonomous electric vehicles and started working on luxury utility vehicles. His idea also drove the attention of a few major investors, like the Saudi Arabia-based investment group Abdul Latif Jameel, Sumitomo Corp forms Japan and Standard Chartered Bank from London.

With time, the company also hired engineers like Mark Vinnels (as the Rivian’s executive director of engineering) and Jeff Hammoud (as the vice president of design). In 2015, the company opened its research facility in Michigan and set up the company headquarters in Livonia, Michigan. At the same time, the company also started working on ride-sharing vehicles and driverless vehicles.

In 2017, the company acquired the Mitsubishi Motors’ Normal, Illinois plant for $16 million, which became the Rivian’s primary North American manufacturing facility. The company also received a $1 million grant and a five-year tax abatement from Normal contingent as well as $49.5 million in tax credits from the state government, on its strategical money investment over a certain period and for meeting the employment targets.

By the end of 2016, 100 employees were working for Rivian, and Today, over 1000 people are working in Rivian at its different branches, including Michigan, Illinois, California and the United Kingdom. Through the company was growing rapidly, in 7-8 years of its inception, there was no product of its own. It had been working on different parts and technologies for its new car models, which it had planned to assemble at the end.

By December 2017, the company started testing the alpha prototypes of its first vehicle and announced its first two products, i.e., an electric five-seater pickup truck (A1T) as well as an electric seven-seater SUV (A1S). The company took it to the LA Auto Show in November 2018, to launch the two vehicles. Both the cars are semi-autonomous, and the production will start anytime soon in 2020.

With a $200 million in debt financing from Standard Chartered Bank, till 2018, Rivian raised around $450 million. In 2019, the company received a $700 million in a round of funding led by Amazon, and the same year, it also received another $500 million from Ford Motor Company.

Cox Automotive also made a $350 million investment into Rivian. In September 2019, Amazon made an order of 100,000 electric delivery vans from Rivian.

The potential of RJ Scaringe’s idea behind Rivian can be estimated through the fact that no Rivian cars are currently running on the road. Despite that, the company has raised about 1.5 billion in funds in past ten years. The company is not only planning to contribute to the environment but has also helped America to raise employment and offer better money to people.

Mazda logo

Mazda Motor Corporation : Success Story that Seems Unreal

Leave a Comment / Founder, start-up, Story, Tech Story / By

Zoom Zoom! This magical sound will invoke a sense of enthusiasm and passion for driving in the minds of all automobile junkies. There is absolutely no doubt about that. Mazda Motor Corporation is one of the biggest Japanese automobile brands which have managed to capture the interest of the market for vehicles all over the world.

The Unusual Beginning

Initially located in Hiroshima, and named as Tokyo Cork Kogyo Company Ltd, Mazda was founded by Jurigo Matsuda in the year 1920. It’s funny how one of the world’s leading automobile manufacturing firm started out as a mere cork manufacturing factory! This is a classic example of how all giants have a humble beginning. Diversification was the concept that triggered their success. The firm slowly started expanding its production from making corks to include machined products. Soon enough, the firm rebranded itself as Tokyo Kogyo, dropping the term ‘Cork’ from it. Later, the company started manufacturing machine tools also.

Cork to Cars

Jujiro Matsuda Mazda Motor Corporation
Image Source: evomalaysia.com

The year 1931 was quite a bit unusual for Tokyo Kogyo. They did something that nobody had ever attempted to do. They introduced a three-wheel truck into the market. The concept was so bizarre yet so catchy. This was crazy enough for the firm to attract the attention of their target customers. The idea took off in 1945 when there was a high demand for military supply production.

It was only in the year 1960, that the company manufactured its very first passenger car, modelled Mazda R360 coupe. This was a major turning point for the company, and soon, it entered into an agreement with Felix Wankel to manufacture the German company’s famous rotary engine. This rotary engine has a lot of significance, as it has given a certain set of characteristics to the vehicles to increase its efficiency.

The Real Revolution

The release of the Mazda Cosmo Sports 110S model, in 1967, brought the real revolution, as the car featured the German rotary engine. Ever since then, the firm started expanding its market across the European continent. Soon enough, after the year 1970, Mazda started expanding their production and reached to the US as well. Later on, the Ford Motor Company purchased a 25% stake in Tokyo Kogyo, leading the two firms to work together.

It was in the year 1984 that the firm officially changes its name from Tokyo Kogyo to Mazda Motor Corporation. Mazda then developed a US production facility, which was located in the suburban areas of Detroit. All these major changes took place in a very short span of time, and the company saw exponential growth in their market value and revenue. The name Mazda slowly began to make a mark in the automobile industry, and it is safe to say that the company has come a long way from manufacturing quirky three-wheeled trucks to becoming the super players in the market.

A major event in the timeline of Mazda Motor Corporation took place, when the firm sold its 50% share of the Detroit plant to Ford Motor Corporation, and thus, created a joint venture named AutoAlliance International Inc.

The Downfall and Rise

After a long success streak, in 1994, Mazda faced its first downfall. The company fell into loss, and this, maintained to be for another 5 years. Following which, Ford took over the major shares of operations in Mazda and named Henry J Wallace as the President. It was for the very first time in history that a non-Japanese had headed a Japanese firm. After a few years, in 1999, Mazda regained its lost glory as the firm attained its profit status after a long six years.

Mazda Motor Corporation Today

Mazda now positions itself as the high-end Japanese Automobile technology giant, which started out as a cork manufacturing factory somewhere in Hiroshima. The firm still has its headquarters in Hiroshima and is headed by Akira Marumoto, who is the Representative Director of the firm. The automobile giant now focuses more on the manufacture and sales of passenger cars and commercial vehicles, with a net worth of 284 billion dollars. With their vision to make driving more fun and carefree, they have developed several successful models that have been accepted wholeheartedly by the customers all over the globe. The network of Mazda has spread over countries like the US, Germany and China. The success story of Mazda Motor Corporation is truly an inspiration for all the beginners, who envision making it big in the business world.

Tesla to Bring Support For YouTube Along Next Update to its In-car Software

News, Tech News / By
Tesla
Image Source: autoblog.com

Tesla has always brought something different for its users. This time, the company reported that it will be bringing YouTube to the central screen of its Tesla cars, soon. The company’s founder and CEO, Elon Musk, during a Q&A session held at the E3 event in Los Angeles, revealed that the company has been working towards hosting video streaming on the central infotainment screen of the Tesla cars since past one year, and YouTube will be the first video streaming service coming to it.

Last August, Musk responded to a Twitter request about bringing video streaming to the Tesla cars’. In the tweet, Musk had indicated that the streaming service will come along with the ‘Version 10” of its in-car software. Currently, Tesla cars are running the ‘Version 9’ of the software on its infotainment screen. At that time, Musk did not give any names on which streaming service it would be, but during the Q&A, Musk clearly mentioned YouTube as one of the video services for the central screens of the Tesla cars.

The company has already offered games and has been hosting “Easter eggs” on the central screen of the cars, and this will be the first time that any of the automobile company will stream YouTube over its cars’ infotainment screens.

Along with YouTube, Bethesda’s Fallout Shelter will be joining Cuphead, Missile Command, Asteroids, Lunar Lander, and Centipede as one of the games to be played on the big central screen of Tesla cars.

Though people are questioning the need of videos and games on the screen of a car, the company has clarified that the owner or the passengers of the car will only be able to see the videos or play the games while the car is parked. In most of the cases, people only sit inside a car when they are charging it at the Supercharger stations. This way, now the passengers and the drivers will enjoy their time through YouTube and video games, at the charging station while waiting for their cars to get fully charged.

Rolls-Royce : Success Story Of A Motor Car Brand That Over a Century Old

Founder, start-up, Story, Tech Story / By

Rolls-Royce, a renowned motor car company, established in 1904, has been through many phases of accomplishments both alone and in a joint venture with other superior automobile companies around the world.

The two masterminds behind this colossal empire, Henry Royce and Charles Rolls met each other in May 1994, after Royce built his first motor car. With the partnership of a majestic car designer and an aviation pioneer, the company started producing the best cars world has ever witnessed.

Henry Royce

Sir Frederick Henry Royce was born in Alwalton, Huntingdonshire on 27 March 1863. He was an engineer and a car designer by occupation. Since his father died, when he was very young, there was always a financial crisis in the family. But luckily, Royce along with Ernest Claremont started a business of electric fittings, in 1884 with some of their savings. And, by the next decade, the company started building dynamos and electric cranes, when the idea of motor car company struck Royce’s mind. He was so fixated on the idea that he built his own motor car in 1904, which eventually, led to the meeting between him and Rolls.

Rolls-Royce founders
Image Source: telegraph.co

Charles Rolls

Charles Stewart Rolls was born in Berkeley Square, London on 27 August 1877. He was a motor car promoter and an aviator by occupation. Since a very young age, Charles was interested in developing engines, so he studied mechanical and applied science from Trinity College. Apart from engineering, he had the skills of a true businessman. In January 1903, he established one of Britain’s first car dealership, his father being the capital investor. Engaging himself into the business world resulted at the beginning of an era when he co-founded Rolls-Royce.

History of Rolls-Royce

The beginning of the tale dates back to 4th May 1904, when these two men met at the Midland Hotel, Manchester, through Henry Edmunds, a friend of Charles Rolls. In 23rd December 1904, both of them settled to an agreement and decided the trading name of their company, i.e. Rolls-Royce. In the same month, the first car of Rolls-Royce, Rolls-Royce 10 hp, was launched at the Paris Salon. In March 1906, Rolls-Royce Limited was formed with Royce as the chief engineer and works director, while Rolls managed the financial section of the business. In the same year, the six-cylinder Silver Ghost was released, which then, gained immense popularity and was known as ‘the best car in the world’. By 1907, the company started receiving awards for the exquisite design engineering that increased the reliability of the cars. The partnership ended with the death of Rolls in 1910.

In the year 1914, in response to the First World War, Royce started designing aero engines. And the first aero engine- Eagle. It was the first engine that motorized the first flight from England to Australia. In October 1928, Royce started designing the ‘R’ engine, and within a span of one year, the ‘R’ engine set a new record of airspeed (357.7 miles per hour). This led to the winning of Schneider Trophy in 1929. In 1931, the ‘R’ engine established a new world record of speed 400 miles per hour. In 1933, Royce launched PV-12, and the first test of this engine was completed in 1934, one year after Royce died. And this engine was known as the Rolls-Royce Merlin engine.

During the Second World War, the company got transformed into a huge aeronautical tycoon, because of the rising demand for the Merlin. In the year 1944, under the supervision of Sir Frank Whittle, the development of the aero gas turbine began. It had a good technological lead. In 1953, the company entered the civil aviation market with the Dart in the Vickers Viscount. This was a strategy to finally gain the acceptance for gas turbines by the aeronautical industry.

In 1960, the company launched RB211 (three shafts high-bypass turbofan engine). By 1961, many small companies came under the acquisition of Rolls-Royce, and in 1966, the company merged with Bristol Siddeley. By 1987, it became the only company in Britain to power engines in air, land, and even, in the sea. In 1990, the company formed a joint venture with BMW of Germany.

In 1995, acquisition of Allison Engine Company in Indianapolis led to many successful defence programs. By the end of the 1990s, the company globally dominated the marine power systems, and by the end of an entire century, BMW took the responsibility of the Rolls-Royce cars.

In 2005, the company opened its 6,000 square meter Marine facility in Shanghai. In 2006, the Rolls-Royce Trent 1000 ran for the first time. Many more engines were developed in the next few years, which served airways all over the world. In May 2011, the company received a contract for building nuclear-powered submarines by the UK government.

Currently, Rolls-Royce Motor Cars (BMW Subsidiary) has its headquarters in Goodwood, West Sussex with more than 1300 employees beating its own sales record every year. The other sections of this gigantic industry are also carrying out projects with their magnificent technologies to create a better tomorrow.