Latest news with #JV
Business Upturn
2 days ago
- Business
- Business Upturn
Angel One and LivWell to form JV for digital-first life insurance company in India
Angel One, one of India's top FinTech platforms, has announced its plan to form a joint venture (JV) with LivWell to launch a next-generation, digital-first life insurance company. Backed by a capital infusion of ₹400 crore, the new venture will be co-promoted by Angel One Ltd (26%) and LivWell Holding Company PTE Ltd (74%), subject to regulatory approvals. This strategic alliance aims to redefine how Indians access life insurance—leveraging technology, trust, and transparency. India remains significantly underinsured, with protection gaps of over 83%, particularly among younger earners aged 26–35. The JV seeks to tackle this challenge by offering affordable, personalized, and protection-led insurance products built on seamless digital infrastructure. The proposed company will operate on a tech-first architecture, using AI-driven automation and data personalization to simplify life insurance. The goal: to make insurance more relevant, affordable, and aligned with modern lifestyles. The leadership team includes industry veterans such as Wilf Blackburn, ex-Regional CEO of Prudential Asia, who is expected to chair the venture, and Nikhil Verma, former Deputy CEO of Aviva Vietnam, as the CEO. LivWell is supported by Olympus Capital, a prominent Asia-focused private equity firm with $2.6 billion invested across companies like HDFC Bank, CreditAccess Grameen, and Utkarsh SFB. With India aiming for 'Insurance for All by 2047', this digital-first insurer is poised to tap into a massive, underserved market. By combining Angel One's digital expertise with LivWell's insurance pedigree, the JV is set to reshape life insurance access for millions of Indians. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Business Times
3 days ago
- Automotive
- Business Times
BYD's Pakistan JV sees government support as critical for EVs
[KARACHI] BYD's joint venture (JV) in Pakistan sees government support for electric vehicles (EVs) as key to the success of its plan to start local production next year, according to a company executive. China's leading carmaker agreed last year to manufacture and distribute vehicles in Pakistan as part of a partnership with Mega Motor Company, a subsidiary of Hub Power, Pakistan's largest independent electricity producer. 'I'm coming as an investor looking at the next 20 years,' Danish Khaliq, vice-president for strategy and sales for the joint venture, told Bloomberg on the sidelines of a briefing in Karachi. 'So there should be a policy that supports me,' he said, adding that Pakistan's effort to spur development of the auto industry 'needs to be consistent and it needs to be sustainable'. Those policies include a target by Prime Minister Shehbaz Sharif's government to boost EVs to 30 per cent of total sales, imports and production in five years, and a pledge to reduce electricity prices at EV charging stations. Khaliq said BYD has seen strong demand for its imported models as the JV prepares to roll out locally assembled plug-in hybrid and electric cars from its factory, the first in the region. He spoke on Tuesday at a briefing ahead of the launch of BYD's plug-in hybrid Shark 6 pickup in Pakistan. The plant will be set up near Karachi's Port Qasim area and begin output in the first half of 2026, Bloomberg has reported. It's located near vehicle assembly facilities of other automobile companies, including local units of Toyota Motor, Suzuki Motor and Kia. More than half a dozen auto companies, led by Chinese brands, have launched EV models in Pakistan since last year. BYD is looking to the country to help it continue to grow even as its monthly sales have stagnated recently in China. BLOOMBERG
Business Wire
4 days ago
- Business
- Business Wire
BKV Corp. Expands Strategic Partnership with Leading Midstream Operator to Advance Carbon Capture and Sequestration Development
DENVER--(BUSINESS WIRE)--BKV Corporation ('BKV' or the 'Company') (NYSE: BKV) today announced the execution of an agreement with a leading diversified midstream energy company to develop a new carbon capture and sequestration ('CCS') project at a currently operating natural gas processing plant in East Texas. The agreement expands on a previously announced agreement between the companies to develop a separate CCS project at a location in South Texas. The new CCS project will be constructed on the same site as an existing East Texas natural gas processing plant and is expected to be operational in early 2027. Under the terms of the agreement, BKV forecasts approximately 70,000 metric tons per year of carbon dioxide ('CO 2 ') waste stream could be captured at the plant, which would then be delivered to BKV to be compressed, transported and permanently sequestered via BKV's co-located Class II injection well. The co-located Class II injection well eliminates the need to invest in a high-pressure pipeline. The East Texas CCS project will be owned by BKV, but may be transferred to the Company's recently announced CCS joint venture ('JV') with Copenhagen Infrastructure Partners. 'Deepening our relationships with key partners demonstrates their confidence in our technical and operating expertise in developing and scaling carbon capture, utilization and sequestration projects,' said Chris Kalnin, Chief Executive Officer of BKV. 'As demand for low-carbon energy solutions continues to grow, we are pleased to expand our existing business relationship with one of the largest midstream providers in the United States.' The new CCS project adds to BKV's carbon capture, utilization and sequestration ('CCUS') portfolio, which includes the operational CCS project at the Company's Barnett Zero site in north Texas, the aforementioned South Texas project and the Cotton Cove CCS project, which has reached FID and remains on track to begin initial sequestration operations in the first half of 2027. About BKV Corporation Headquartered in Denver, Colorado, BKV Corporation is a forward-thinking, growth-driven energy company focused on creating value for its stockholders. BKV's core business is to produce natural gas from its owned and operated upstream assets. BKV's overall business is organized into four business lines: natural gas production; natural gas gathering, processing and transportation; power generation; and carbon capture, utilization and sequestration. BKV (and its predecessor entity) was founded in 2015, and BKV and its employees are committed to building a different kind of energy company. BKV is one of the top 20 gas-weighted natural gas producers in the United States and the largest natural gas producer by gross operated volume in the Barnett Shale. BKV Corporation is the parent company for the BKV family of companies. For more information, visit the BKV website at Forward-Looking Statements The information in this press release includes 'forward-looking statements' within the meaning of the federal securities laws. Forward-looking statements, which are not historical facts, include statements regarding BKV's strategy, future operations, prospects, plans and objectives of management, and often contain words such as 'expect,' 'project,' 'estimate,' 'believe,' 'anticipate,' 'intend,' 'budget,' 'plan,' 'seek,' 'envision,' 'forecast,' 'target,' 'predict,' 'may,' 'should,' 'would,' 'could,' 'will,' the negative of these terms and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Forward-looking statements are based on management's current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict, including but not limited to assumptions, risks and uncertainties regarding our ability to successfully fund, pursue and develop our CCUS business; the expected increase in demand for power and our ability to serve that demand from our power business; and our ability to develop, market and sell our carbon sequestered gas product. As a result, actual results could differ materially from those indicated in these forward-looking statements. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements discussed in BKV's filings with the United States Securities and Exchange Commission (the 'SEC'), including the 'Risk Factors' section of BKV's Annual Report on Form 10-K dated March 31, 2025. BKV undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. SOURCE: BKV Corporation
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Business Standard
4 days ago
- Automotive
- Business Standard
How will Sona BLW's JV with JNT unlock ₹1,670 crore TAM? Stock up 3%
Sona BLW Precision Forgings shares rose 3.4 per cent, logging an intraday high at ₹496.3 per share on BSE. At 12 PM, Sona BLW share price was trading 1.72 per cent higher at ₹258.8 per share on the BSE. In comparison, the BSE Sensex was up 0.36 per cent at 82,052.49. The company's market capitalisation stood at ₹30,339.98 crore. The 52-week high of the stock was at ₹767.8 per share, and the 52-week low of the stock was at ₹379.8 per share. Why were Sona BLW Precisions shares buzzing in trade? The buying interest on the counter came after the company signed a binding term sheet with Jinnaite Machinery (JNT) to establish a joint venture (JV) company in China. According to the filing, the JV will manufacture and supply driveline systems and components to automotive original equipment manufacturers (OEMs) in China and globally. Sona Comstar will invest $12 million, while JNT will contribute $8 million in assets and business to the joint venture in the first phase. The JV is expected to commence operations in the second half of the current financial year, marking a significant milestone in Sona Comstar's expansion into the Chinese EV market. The driveline manufacturing operations in China align with the company's strategy to expand its presence in Asian markets, particularly in India, China, Japan, and South Korea, while also working to increase its market share further in North America and Europe, according to Sona BLW Domestic brokerage JM Financial Institutional Securities believes this JV will represent a significant growth opportunity for Sona BLW as the company would not have entered this venture without a strong anchor customer (mostly BYD). Based on the brokerages estimates, the JV could unlock a total addressable market (TAM) of ₹1,670 crore (48 per cent of Sona's FY25 revenue), with potential upside if the JV onboards other global and domestic EV players like Tesla in China. The brokerage has maintained a 'Buy' on the stock with a target of ₹630 per share. About Sona BLW Sona Comstar is a global supplier of driveline solutions for various automotive segments and is strategically expanding its presence in the faster-growing Asian markets. The company is the largest supplier of differential assemblies for battery electric vehicles (BEVs) in North America and ranks among the top suppliers in Europe. About Jinnaite Machinery Co The company operates a world-class foundry utilising patented technology to manufacture complex castings and molds. JNT holds 63 patents and 36 proprietary technologies, and it is actively engaged in the formulation of Chinese national standards, having contributed to the development of five national standards. Its strong customer base in the automotive, off-highway, and railway sectors, including leading Chinese automotive OEMs, as well as those from North America, Europe, and Japan, further underscores its expertise and capabilities.
Time of India
4 days ago
- Automotive
- Time of India
Sona Comstar to form $20 mn JV with China's JNT for driveline systems
Automotive components supplier Sona BLW Precision Forgings ( Sona Comstar ) has signed a binding term sheet with Jinnaite Machinery (JNT) to set up a joint venture (JV) in China to manufacture driveline systems and components for electric and conventional vehicles. Sona Comstar will invest $12 million in the first phase of the venture and hold a 60 per cent equity stake, while JNT will contribute $8 million in assets and business operations. The JV is expected to commence operations in the second half of FY2026. The move marks a strategic step in Sona Comstar's expansion into the Chinese electric vehicle (EV) market, which accounted for around two-thirds of global EV sales in 2024, the companies said in a joint statement Monday, citing third party research. Chinese OEMs held 76 per cent of global EV sales last year and have increased exports from 1 million units in 2020 to over 6 million in 2024. JNT, based in Gucheng County, operates a large-scale foundry and holds 63 patents. It serves customers in the automotive, railway and off-highway sectors in China and internationally. The joint venture aims to leverage Sona Comstar's expertise in driveline systems and JNT's manufacturing capabilities and customer network in China. The JV will supply driveline components to both EV and non-EV customers, and already has an order book. The closing of the transaction is subject to the fulfilment of certain conditions.
