News In Brief: Bosch & GMR, Greaves, ACKO Partnership

Bosch, GMR Plan To Develop 7.5 Mn Smart Metering Projects In UP

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Bosch Global Software Technologies (BGSW) and GMR Group have established a Special Purpose Vehicles (SPVs) arrangement to implement the smart metering program for the cities of Agra, Varanasi, and Prayagraj in India. The software and digital solutions division enter a partnership with GMR Group, in the Indian infrastructure market, to implement smart meter system integration projects in the Indian state of Uttar Pradesh.

BGSW has executed definitive agreements with GMR Group whereby BGSW plans to invest a 10% stake and GMR Group is expected to be hold a 90% stake in these SPVs.

The smart metering program envisions the deployment of approximately 7.5 million smart meters across the selected cities. The state-owned DISCOMS of Purvanchal Vidyut Vitran Nigam Limited (PVVNL) and Dakshinanchal Vidyut Vitran Nigam Limited (DVVNL) are clients of the SPVs under the program. PVVNL plans to implement an estimated 5 million smart meters and DVVNL can implement an estimated 2.5 million smart meters. 

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Greaves Finance Partners With ACKO To Facilitate EV  Ownership Across India

Greaves Finance Limited, a non‐banking financial company (NBFC) and a wholly owned subsidiary of Greaves Cotton announced its partnership with ACKO, a tech‐first insurer, to encourage seamless EV ownership in the country.

The collaboration, under Greaves’ 100% ev‐focused lending platform Evfin, enables cross‐selling of the offerings of ACKO on the platform, allowing consumers to access the most optimal insurance policies and financing options conveniently. It will also streamline the insurance scouting process for users, offering them affordable policies catered to their needs.