| | NOVEMBER 20238Altigreen, a leader in the last-mile vehicle industry, has teamed up with Bolt.Earth, a top supplier of electric vehicle charging infrastructure, to jointly install over 5000 charging stations over the course of the next three years, in addition to 100 3.3 kW charging stations for electric three-wheelers in a single month.In India, the last-mile delivery market has seen a significant surge in demand for electric three-wheelers, particularly in the L5N (goods) category, where they currently account for 21 percent of total penetration. But Bolt.Earth and Altigreen agree that the nation's present infrastructure for charging devices is insufficient to keep up with the electrification drive. Range anxiety is keeping many owners of three-wheelers powered by fossil fuels from switching to electric vehicles because there aren't enough convenient places to charge their cars. This collaboration will therefore be crucial in reducing the main barriers to the adoption of electric three-wheelers through the prompt deployment of charging solutions.Amitabh Saran, Founder & CEO, Altigreen, said, "The partnership will increase EV confidence among Altigreen's customers, dealers, and lease operators, through accessible and cost-effective charging. By joining forces, we are addressing the pressing issue of range anxiety that has hindered the widespread adoption of electric 3-wheelers. Through the deployment of accessible and affordable charging points, we aim to empower users and instill confidence in the potential of electric vehicles. This partnership is a stride towards a future where electric mobility is seamlessly integrated into our everyday lives". Arvind Fashions said that it would sell its beauty brands segment, which retails Sephora products, to billionaire Mukesh Ambani's Reliance Retail for Rs 99 crore ($11.89 million). LVMH owns Sephora. The transaction, which would increase Reliance's assortment of foreign goods, was announced months after local media outlets said that negotiations between Sephora and Reliance Retail to establish a joint store for the Indian market had broken down. In April, Reliance introduced Tira, its own beauty retail platform, to compete with companies such as Nykaa and the Tata Group.The enterprise value of the deal was 2.16 billion rupees, according to a regulatory filing by Arvind Fashions. Following the news, Arvind Fashions' stock rose 11.5 percent before giving up some of its gains to close at a 7.3 percent gain. In fiscal 2023, the cosmetics segment of Arvind Fashion, which houses Sephora, generated revenue of 3.37 billion rupees, or around 7.6 percent of the company's overall revenue.In the preceding fiscal year, Arvind Beauty Brands Retail, under the leadership of Sanjay Lalbhai, generated 336.7 crore in revenue, accounting for 7.60 percent of Arvind Fashion's total income. In the fiscal year 2022­2023, Arvind Beauty Brands Retail Ltd. had a net worth of 10.6 crore, or 1 percent of the company's total net worth. ALTIGREEN & BOLT.EARTH COLLABORATE TO INSTALL EV CHARGING STATIONSRELIANCE TO ACQUIRE ARVIND FASHION'S BEAUTY RETAILIN FOCUSIN FOCUSIn April, Reliance introduced Tira, its own beauty retail platform, to compete with companies such as Nykaa and the Tata Group
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