Brief Summary
This video covers a range of business news, including Gentari and Shell India's partnership for EV charging, Amazon's entry into the 10-minute delivery market in Delhi, Emirates' potential acceptance of crypto payments, and Oyo's partnership with Yatra for its upcoming IPO. It also discusses Mahindra and Minda's plans to produce rare earth magnets in India, NVIDIA's $4 trillion valuation, TATA Motors' lifetime EV battery warranty, and Apple's development of an AI chatbot for its support app.
- Gentari and Shell India are partnering to expand EV charging infrastructure.
- Amazon is launching a 10-minute delivery service in Delhi, intensifying competition in the quick commerce sector.
- Emirates is planning to accept crypto payments, pending regulatory approval.
- Oyo is partnering with Yatra to strengthen its presence in the business travel sector ahead of its IPO.
- Mahindra and Minda are collaborating to produce rare earth magnets in India, reducing reliance on China.
- NVIDIA's market capitalisation has reached $4 trillion due to high demand for AI chips.
- TATA Motors is offering a lifetime battery warranty for its Curve EV and Nexon EV models.
- Apple is developing an AI chatbot for its support app to provide instant customer assistance.
Introduction
The presenter introduces the day's business news, which includes topics such as the competition in the quick commerce industry, a partnership between Gentari and Shell, Emirates' move towards cryptocurrency, Oyo's IPO preparations, Mahindra's plans for rare earth magnets, Nvidia's market valuation, Tata Motors' new offering, and Apple's AI development.
Gentari & Shell India Unite to Expand EV
Gentari and Shell India have partnered to expand EV charging infrastructure, providing users with access to over 450 combined charging points. Shell recharge points will be accessible through the Gentari Go App, and Gentari chargers will be available to Shell users. This collaboration aims to make EV charging more accessible and reliable, particularly in West and South India, supporting low-carbon mobility and enhancing the charging experience at fuel stations.
Amazon 10 min delivery app in Delhi
Amazon has launched its 10-minute delivery service, Amazon Now, in Delhi, following a pilot run in Bangalore. This move intensifies competition with existing quick commerce platforms like Blinkit, Instamart, and Zepto. Amazon plans to invest ₹2000 crores to open 300 dark stores, enabling ultrafast delivery of groceries, snacks, and personal care items. This initiative aims to improve convenience for urban users who have increasingly turned to quicker delivery services for household items.
Emirates set to accept Crypto Payments
Emirates has partnered with crypto.com to potentially accept crypto payments from 2026, pending regulatory approval. Dubai is emerging as a global crypto hub, with over 650 registered firms. This move by Emirates targets tech-savvy and young customers, aligning with Dubai's vision for financial innovation. Emirates and Crypto.com will collaborate on marketing efforts to promote the adoption of this new payment method.
Oyo Partners with Yatra for upcoming IPO
Oyo has partnered with Yatra to strengthen its presence in the business travel sector as it prepares for its IPO. Over 500 Oyo serviced hotels have been onboarded on the Yatra platform, with plans to add 1000 more by September. This collaboration targets demand in cities like Delhi, Mumbai, and Bangalore, focusing on blended travel and flexible travel plans to benefit companies in terms of cost and productivity.
Mahindra & Minda to produce Rare Earth Magnets
Mahindra and Minda are planning to produce rare earth magnets in India to reduce dependency on China, which controls 90% of the global supply. Export restrictions have caused problems for Indian automakers, delaying car production due to the unavailability of rare earth magnets. Mahindra aims to manufacture magnets for EVs through local tie-ups and long-term contracts. The government is also planning incentives and stockpiling measures to support this initiative, despite challenges in mining raw materials in India.
NVIDIA hits $4 Trillion Valuation
NVIDIA's market capitalisation has reached $4 trillion, surpassing Apple and Microsoft, driven by high demand for AI chips. The company's stock rose 2.8% to $164.42, making NVIDIA the largest part of the S&P 500 index at approximately 7.3%. Since 2023, NVIDIA has experienced significant growth, tripling its valuation within a year, with new trade deals and AI optimism contributing to this record level.
TATA Motors - Lifetime EV Battery
TATA Motors has launched a lifetime battery warranty for its Curve EV and Nexon EV models, available to both new and existing first owners. This warranty, previously offered with the Harrier EV, aims to alleviate concerns about battery damage and replacement costs. Additionally, TATA EV owners purchasing a Curve or Nexon EV will receive a loyalty benefit of ₹500.
Apple develops AI Chatbot
Apple is developing a new generative AI chatbot for its support app to provide users with instant help and answer queries. The chatbot will also connect users to live support agents if needed, similar to ChatGPT, and may support image or file uploads. This AI tool will streamline processes such as warranty checks and repairs, addressing various customer issues. This move signifies a shift in Apple's AI strategy, despite its earlier reservations about chatbots.
