Latest news with #Fada
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Business Standard
05-05-2025
- Automotive
- Business Standard
Automobile sales inch up 2.95% in April, CV sales see decline, says Fada
Overall automobile retail sales in India rose by 2.95 per cent in April this year, reaching 22,87,952 units, the Federation of Automotive Dealers Associations (Fada) reported on Monday. All vehicle categories except commercial vehicles (CV) showed growth. Two-wheelers increased by 2.25 per cent, three-wheelers by 24.5 per cent, passenger vehicles (PV) by 1.5 per cent, and tractors by 7.5 per cent, while commercial vehicles declined by 1 per cent. Two-wheeler retail sales in April this year reached 1,686,774 units compared to 1,649,591 units in the same month last year, representing a 2.25 per cent increase. ALSO READ | Hero MotoCorp records 43% YoY fall in April auto sales due to temporary production halt Passenger vehicle retail last month totaled 3,49,939 units compared to 3,44,594 units in April 2024, showing a 1.55 per cent increase. Total automobile sales in India during April 2024 were 2,222,463 units, according to Fada's statement. The purchases completed during festivals such as Akshay Tritiya, Bengali New Year, Baisakhi, and Vishu contributed to April ending positively. "With the tariff war paused, stock markets staged a sharp pullback -- alleviating investor concerns -- and customers thus leveraged Chaitra Navratri, Akshay Tritiya, Bengali New Year, Baisakhi and Vishu to complete purchases, helping April end on a positive note," Fada President CS Vigneshwar said. ALSO READ | Tata Motors sales down 6% at 72,753 units, Kia India sees 18% rise in April Two-wheeler retail volumes showed a resilient upward trend, increasing by 2.25 per cent year-on-year and accelerating by 11.84 per cent month-on-month, which highlights a stable demand environment despite mixed economic challenges. "Dealers reported buoyant enquiry growth in rural areas post-Rabi harvest, driven by strong crop yields, healthy reservoir levels and a favourable monsoon outlook, while wedding-season tailwinds sustained rural offtake," Vigneshwar said.
CairoScene
19-02-2025
- Business
- CairoScene
Abu Dhabi to Become Key Hub for Earth Observation Satellite Production
Abu Dhabi to Become Key Hub for Earth Observation Satellite Production Abu Dhabi is set to become a key centre for Earth observation satellite production, following a AED 378 million agreement aimed at expanding the UAE's capabilities in space technology. The contract, awarded to AI-powered SpaceTech company Space42 by Fada, a subsidiary of military contractor Edge, will be executed over five years to enhance geospatial data collection and analytics. As part of the agreement, Space42 will utilise its Foresight constellation of synthetic-aperture radar satellites to provide geospatial insights to government entities. The data is expected to support urban planning, environmental monitoring and national security efforts. Space42 was formed through the merger of Bayanat, a geospatial analytics company, and YahSat, making it one of the most valuable publicly listed space firms. Fada, launched in September as Edge's dedicated space-focused subsidiary, has been working to establish a strong foundation for the UAE's growing space sector. The announcement of the contract followed plans unveiled at the Idex defense fair, where both companies introduced an initiative to build an industrial-scale Earth observation satellite manufacturing center in Abu Dhabi. The facility will produce satellites for both commercial and defense applications, handling design, procurement, deployment, and operation. Beyond manufacturing, the project will oversee the entire lifecycle of satellite systems, including deployment, ground infrastructure, and data processing. Engineers at the facility will construct payloads, the components responsible for data collection, with the capability to produce multiple satellites, each weighing hundreds of kilograms, simultaneously.
The National
18-02-2025
- Business
- The National
Abu Dhabi set to become centre for Earth observation satellite manufacturing
Abu Dhabi is in line to become a global player in building Earth observation satellites following a Dh378 million agreement between companies in the emirate. AI-powered SpaceTech company Space42 won the contract from Fada, a subsidiary of military contractor Edge, which will improve the UAE's Earth observation capabilities over the next five years. Space 42 will use data from its Foresight constellation of synthetic-aperture radar satellites to provide geospatial analytics to government bodies. This means several government entities would have insights from satellite data that could help them with decision-making in areas like urban planning, environmental monitoring and security. 'Fada's mission to develop sovereign space solutions and drive innovation in satellite systems aligns with this collaboration,' Waleid Al Mesmari, president of space and cyber technologies at Edge, said in a statement. Space42 was formed after a merger between Bayanat, a geospatial analytics company, and YahSat, creating one of the most valuable publicly listed space companies. And Fada is a space company launched in September by conglomerate Edge. The contract announcement came a day after both companies unveiled plans at the Idex defence fair in Abu Dhabi to build an industrial-scale Earth-observation satellite manufacturing centre. Karim Sabbagh, managing director of Space42, told The National that the satellites they develop there will be for dual-use, including commercial and defence. 'The joint venture will be responsible for designing, procuring, deploying and operating these capabilities,' he said. Beyond manufacturing, the companies will also oversee the entire operational lifecycle of the Earth-observation missions, including deployment into orbit and setting up ground infrastructure that will enable the satellites to capture images and collect data. Engineers at the centre will also build the payloads - the part of the satellite that captures the data. Once gathered, this data will be processed and analysed for various applications, ranging from environmental monitoring to national security. Mr Sabbagh said the centre would be able to develop many satellites with a mass of hundreds of kilogrammes at the same time. "Because when you have a larger facility, you can have a larger number of workstations. The industrial flow will have the ability to accommodate a larger volume of spacecraft at any given point in time," he said. The new project is also expected to increase the number of jobs in the space sector and provide staff with new skills. "The benefit for the UAE is developing a new cadre of technicians and engineers who have sort of hands-on experience across the entire life cycle of technology development, up to productisation, manufacturing, launch and bring into use and service, which I think is a fantastic sort of achievement," said Mr Sabbagh. In 2021, The National revealed the UAE's plans to become a regional centre for the development of spacecraft systems. Sarah Al Amiri, who was the the Minister of State for Advanced Technology and chairwoman of the UAE Space Agency at the time, had said the goal was to increase private sector investment in the country's growing space industry and make it a key contributor to the economy. "Most of the current space sector within the Emirates is focused on government spending and programmes across both local and federal governments,' said Ms Al Amiri, who is now the Minister of Education. "Today, we're talking about a space sector that has an indirect impact to the economy. In five years, we want to see a space sector that has both an indirect impact on the economy, society, and also a direct impact on the economy."
