India’s commercial vehicle (CV) industry is rapidly aligning with global standards, thanks to policy reforms, evolving customer expectations and a robust domestic ecosystem. Automakers and suppliers are making significant strides in cost competitiveness, safety innovations and integrating alternative energy solutions. As the sector continues to evolve, the need for collaboration and strategic discussions has never been more critical.

Recognising this imperative, Motoring Trends, a leading automotive magazine, hosted its inaugural Commercial Vehicles Conference on 21st November 2024, in Pune, India. Themed ‘Moving India Forward’, the event served as a platform for industry leaders, including OEMs, suppliers, technocrats, fleet operators and industry partners, to address challenges and identify opportunities shaping the future of the Indian CV landscape.

By bringing together stakeholders from across the value chain, the conference underscored the importance of collective action in driving innovation, enhancing safety standards, and adopting sustainable practices. As the CV industry transforms to meet global benchmarks, such forums are vital to ensuring India’s leadership in the sector while addressing its unique market dynamics and needs.

Mahindra Truck & Bus, Ashok Leyland and Apollo Tyres supported the event as sponsors, while Automotive Research Association of India (ARAI) was the Associate partner, while Asian Trucker and Tyre Trends were the Media partners. The delegates at the event attended from a range of companies such as Tata Motors, MAN Trucks, Continental India, Tyresoles India, and Volvo Trucks among others.

The event kicked off with Dr Seshu Bhagavathula, Director, CityQ and an automotive industry veteran delivering the Keynote address, where he highlighted how urban cities around the world are working to decongest and decarbonise their streets. “This (decongestion and decarbonisation) requires a serious relook and focus on improving urban mobility as well as the role of alternative energy to support the transition,” Dr Bhagavathula.

Rashmi Urdhwareshe, Former Director, Automotive Research Association of India (ARAI) shared her perspective on how the automotive industry has been focussing on not just introducing the latest technologies, but also co-developing solutions to meet the India-specific needs. She emphasised  the close cooperation between testing agencies, suppliers and OEMs that is accelerating the transition to the latest technologies.

Making commercial vehicles safer

The commercial vehicle population on Indian roads accounts for a small parc of the total vehicles, but ranks 3^rd when it comes to the vehicles involved in road accidents. In 2022, more than 460,000 accidents took place in India, which resulted in over 168,491 people losing their lives and over 443,366 people being injured.

The first panel discussion of the day focussed on one of the most important aspects pertaining to the CV industry – Safety. The panellists for the session included – Dr Venkat Srinivas, Head Of Business, Mahindra Truck & Bus; Rahul S. Mahajan, Deputy Director, The Automotive Research Association of India (ARAI); Sudeepth Puthumana, Head of Segment – ADAS, Autonomous Mobility, Continental Automotive India and Prashant Kakade, Ministry of Road Transport & Highways (MoRTH).

The session, moderated by Bhushan Mhapralkar, Editor, Motoring Trends, touched upon various factors ranging from ADAS technology, and road designing to driver training and sensitisation.

SKP Amarnath, Group Head - R&D, Apollo Tyres gave a presentation on ‘Commercial Vehicle (Truck) Evolution In India And Impact On Tyres’. He dwelled into the key developments that have taken place in the CV industry and how tyres can play a key role in influencing vehicle safety and efficiency.

Vijay Shrinivas, Member, TREA - Tyre Retreading Education Association and CEO, Indag, gave a presentation on ‘Driving Sustainability and Circularity in Commercial Vehicle Industry’. He presented his thoughts on how treading not only helps save costs on tyre replacement but also enables higher circularity and thus helps reduce carbon emissions too.

Alternative energy & future of commercial vehicles

The role of alternative energy has been a key topic of discussion globally across vehicle segments. While there has been a focus on electrification in certain vehicle classes, the commercial vehicle segment will need to adopt a mixed approach depending on the application and use case.

The second panel discussion was on the topic of Alternative Energy and the Future of Commercial Vehicle. The panellists – Dr Bhagavathula ; Mahesh Babu, CEO, Switch Mobility; Anil Baliga, President, EKA Mobility; Boddapati Dinakar, Executive Vice-President, Sales & Marketing, Volvo Trucks, VECV; Shailesh Zinge, Director - Marketing, Growth Initiatives and Program Management, Engine Business, Cummins India and A Ramasubramanian, CTO, Blue Energy Motors presented their perspective on the alternative fuel segment.

The session was moderated by Nilesh Wadhwa, Assistant Editor, Motoring Trends.

The discussion focussed on how industry stakeholders were exploring various energy mix ranging from electric, LNG to future fuels such as hydrogen and fuel cells. The panellists agreed that globally too at present there was no single fuel that could completely overhaul the commercial vehicles segment. There was a need to not only focus on the vehicles but the necessary charging/refuelling ecosystem.

Transport ecosystem

The health of the CV industry is one of the key barometers to understand a country’s economic prosperity. While one can discuss the trends, policies and technologies, it is imperative that the views of the key stakeholder – fleet operators – are taken into account.

The third panel discussion of the day was on the topic of ‘Transport Ecosystem’. The panellists for the session were - Bal Malkit Singh, Chairman - the Core Committee, Former President, All India Motor Transport Congress (AIMTC) Prasanna Patwardhan, President, Bus & Car Operators Confederation Of India (BOCI) and Sanjay Sasane, Principal, Institute of Driving Training and Research (IDTR).

The session, moderated by Sharad Matade, Executive Editor, Motoring Trends, had an indepth discussion on how fleet operators continued to face headwinds ranging from increases in operational expenses, driver shortages and road infrastructure among others. At the same time, the revenues had not kept up at the same pace. The panellists also presented their perspectives on the adoption of newer technologies and alternative fuels.

Atul Patil, Vice-President – Marketing, Pin 365 delivered the Vote of Thanks. 

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Mumbai-headquartered leading carbon black manufacturer Epsilon Carbon has reported a 10 percent reduction in carbon dioxide equivalent emissions across its upstream transportation operations during FY2025–26. The reduction was achieved through the deployment of an electric and liquefied natural gas freight fleet.

An independent third party certified the emissions data. The reductions achieved in transport logistics equate to carbon absorption figures associated with approximately 29,000 trees. The verified figures allow supply chain partners to include these reductions within Scope 3 emissions reporting frameworks and environmental disclosures.

Gaurav Mathur, Chief Executive Officer, Epsilon Carbon, said, “Decarbonising logistics is central to our climate strategy. What makes this milestone meaningful is that the results are independently verified with a 10 percent reduction in CO2e emissions within the upstream transportation category over a single financial year, driven by the adoption of electric and LNG fleets. These carbon reductions strengthen our own sustainability disclosures and those of our customers, and we intend to scale this model across our supply chain.”

Following Phase 1 operations, Epsilon Carbon intends to expand the number of electric and LNG vehicles in its transport fleet during FY 2026–27 to scale low-carbon freight transport across its supply chain network.

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Czech billionaire Michal Strnad has acquired a 14 percent stake in Pirelli from Chinese state-owned group Sinochem, in a transaction valued at about EURO 1 billion, according to a report by Italian daily Corriere della Sera.

The report said the acquisition was made through Lumina Crown, Strnad's investment vehicle, making the 33-year-old businessman the tyre maker's third-largest shareholder.

Following the transaction, Sinochem's holding in Pirelli has been reduced from 34.1 percent to 20.1 percent, while MTP, the holding company controlled by Marco Tronchetti Provera, has become the company's largest shareholder with a 26.5 percent stake, the newspaper reported.

According to Corriere della Sera, BNP Paribas advised Sinochem on the transaction, while Jefferies acted as adviser to Lumina Crown.

Strnad is the controlling shareholder of Czechoslovak Group (CSG), a defence manufacturer that owns the Italian brands Fiocchi Munizioni and Perazzi. He controls about 85 percent of CSG, which is listed in Amsterdam with a market capitalisation of around EURO 16.6 billion.

The investment in Pirelli was made in a personal capacity through his holding company, Lumina, the newspaper said.

Commenting on the investment, Strnad said, "We are pleased to make this long-term investment in Pirelli, a company that has long been a global leader in its sector, distinguished by its unique history, strong premium positioning and proven capacity for innovation. We have great confidence in Pirelli's strategy, its management team and the company's ability to continue generating sustainable long-term value for all stakeholders. Our investment reflects our strategy of supporting outstanding companies that combine leadership positions in their respective markets, durable competitive advantages, world-class brands and strong growth prospects. It also demonstrates our ability to identify and execute highly attractive investment opportunities globally, acting with conviction and discipline."

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Pirelli reported a 13.3 percent increase in first-half net profit as the premium tyre maker benefited from continued growth in its High Value business, despite persistent geopolitical uncertainty and a volatile economic environment.

Net profit for the six months ended 30^TH June rose to EURO 299 million from EURO 264 million a year earlier, supported in part by lower financial charges. Revenue was broadly unchanged at EURO 3.49 billion, although organic revenue increased 2.5 percent after excluding the effects of foreign exchange movements, hyperinflation accounting and changes in the scope of consolidation.

Adjusted earnings before interest and tax (EBIT) were EURO 557.8 million, broadly unchanged from €558.3m a year earlier, while the adjusted EBIT margin remained stable at 16 per cent.

High Value products accounted for 82 percent of total sales, up from 80 per cent in the first half of 2025, reflecting the company's continued focus on premium and prestige segments.

The company generated a net cash outflow before dividends and the consolidation of Xushen Tyre of EURO 556.9 million, compared with EURO 547.1 million in the corresponding period of 2025, excluding the positive impact from the disposal of Däckia AB. Net financial debt stood at EURO 1.92 billion at the end of June.

Pirelli confirmed the financial targets announced in May.

Second-quarter revenue increased 1 percent year on year to EURO 1.76 billion. Organic growth was 1.4 percent after excluding the effects of foreign exchange, hyperinflation and changes in the scope of consolidation.

Second-quarter adjusted EBIT rose 0.7 percent to EURO 280.4 million, while the adjusted EBIT margin remained unchanged at 16 percent. Net profit increased 3.9 percent to EURO 142.2 million.

The board approved the half-year results, although directors Zhang Haitao, Xi Xiaohong and Wang Kun voted against the financial statements because of the declaration of control by MTP Spa contained in the financial report.

Pirelli said its first-half performance demonstrated the resilience of its business model and the effective execution of its strategic programmes despite continuing geopolitical tensions and economic volatility.

The company's commercial strategy continued to focus on High Value products. Car and motorcycle volumes in the segment increased 3.5 percent during the first half, supported by growth in both the original equipment and replacement channels. The company cited partnerships with leading vehicle manufacturers in North America and Asia-Pacific, alongside continued consumer demand for its premium products.

By contrast, Standard segment volumes fell 8 per cent as Pirelli continued to reduce exposure to lower-margin markets, particularly in South America. Overall tyre volumes remained broadly stable during the period.

Pirelli also strengthened its innovation programme by securing about 200 new homologations with premium and prestige vehicle manufacturers during the first six months of the year. Around 90 percent were for tyres of 19 inches and above, while 70 percent related to speciality products. Electric vehicles accounted for 60 percent of the new homologations.

Among the latest vehicle programmes were approvals for the Ferrari Luce, Rivian R2S and the new Audi Q7 and Q9 sport utility vehicles.

The company also expanded its product portfolio with the launch of the Scorpion AS 4 for the North American replacement market, the Metzeler Sportec 01 RS motorcycle tyre and the Cinturato Gravel RH and RM cycling tyres.

Development of the Cyber Tyre platform also continued through partnerships with connectivity and autonomous driving specialists including Univrses, RideSense and Niulinx.

Pirelli said its efficiency programme generated gross benefits of EURO 81 million during the first half, representing about 54 percent of its annual target. The gains were driven by product design improvements and higher industrial productivity.

The company added that it had introduced mitigation measures, including price increases and additional cost controls, to offset higher raw material, energy and transport costs resulting from the Middle East crisis.

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Mumbai-headquartered rubber chemicals manufacturer NOCIL has announced capacity enhancement at its Dahej plant with an additional capital infusion of INR 1.3 billion, largely funded through internal accruals. The new investment is expected to be completed by H1 FY2028.

The announcement was made on the sidelines of the company’s release of its financial results for Q1 FY2027, with revenue growing 20 percent YoY to INR 4.03 billion. It attributed the revenue growth to increased selling prices of input costs.

On the other hand, improved operating efficiency and inventory gains saw EBITDA margin rise by 210 basis points to reach 11.2 percent, while net profit grew by 61 percent to INR 280 million.

The volumes grew by 9 percent on the back of robust demand in the domestic market, following the GST 2.0 bonanza, while exports continue to see smart uptick. 

The capacity enhancement at Dahej is primarily focused on expanding volumes for peak-utilisation rubber chemical products, through an integrated, backwards-integrated facility. The new investment builds on the earlier announced CAPEX outline of INR 2.5 billion already underway, wherein trial production has already commenced.

V S Anand, Managing Director, NOCIL, said, “Our performance this quarter reflects consistent execution across both our domestic and export businesses in a challenging environment. Beyond the numbers, we are equally focused on building for the future, Our expanded investment at Dahej reinforces our commitment to structured capacity augmentation, backward integration and long-term competitiveness in a market that is increasingly looking to India as a reliable manufacturing partner.”

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