DECEMBER 20238TOP STORIESMOTOROLA TO DOUBLE SMARTPHONE EXPORTS IN 2024According to a senior company executive, China's Lenovo-owned smartphone brand Motorola, an early beneficiary of the government's production-linked incentive (PLI) for mobile phone manufacturing, plans to double exports from India beginning next year. This will be accomplished by increasing Indian shipments to North America, a market currently served primarily by China."Our primary export market from India is North America." We are currently exporting 20-25 percent of our capacity to North America, and growth is increasing year after year. "We intend to double our exports next year (in 2024)," said Prashant Mani, Motorola's executive director of Asia Pacific.According to market analysts, Motorola will export more than one million smartphones from India in 2022, which will be manufactured by local electronics contract manufacturer Dixon Technologies. As of October of this year, it had already exported 800,000 units.Motorola's goal, according to Mani, is to maintain faster growth in exports than in domestic sales. "If we are seeing a 50-60 percent growth in domestic sellout, exports will grow faster than domestic sellouts."He went on to say that the Indian government has set two main goals for mobile phone companies: exports and localization. Motorola has already achieved a domestic value addition of 50-60 percent, excluding semiconductor parts, which is higher than rivals such as Samsung and Apple. TPREL TO CONSTRUCT 13.2MW CAPTIVE SOLAR POWER FACILITYTata Power Renewable Energy announced on Dec 13 that it has signed an agreement with the group of Dr. Abhay Firodia (Force Motors Ltd and Jaya Hind Industries Pvt Ltd) to develop a 13.2 MW captive power plant. Tata Power Renewable Energy Ltd (TPREL)and Dr. Abhay Firodia signed a Power Distribution Agreement (PDA) to supply green power for 25 years under the Captive group. planning, According to a statement from the company.Power plants are developed for joint use by several customers under a specific group approach. This partnership represents a major step forward in advancing sustainable energy solutions for the industry.Under the agreement, Force Motors Ltd, a fully vertically integrated automobile company, will use 6.2 MW AC power and consume 13.64 million units (MUs) annually. The other group company, Jaya Hind Industries Private Ltd, will use 7.0 MW AC power, consuming 15.40 MUs annually.Located at Achegaon in Maharashtra, this solar plant has a capacity of 13.2 MW AC, generating 29.04 MUs of power annually, and it is expected to reduce carbon emissions by approximately 21,200 metric tonnes per year. The project is scheduled to be completed within 12 months of signing the power delivery agreement.TPREL will oversee the development, management, and maintenance of the group's captive solar plant. Force Motors Ltd and Jaya Hind Industries Private Ltd would benefit from the plant's clean and reliable power supply and have the chance to actively contribute to environmental sustainability.
< Page 7 | Page 9 >