The date of presenting the Union Budget for the financial year 2025-2026 is approaching. Finance Minister Nirmala Sitharaman will present the Union Budget on 1 February 2025.
She will become the first Finance Minister to present the Budget for the 8th consecutive time. This will set a record for presenting the Budget the most times. Every section of the society including the common man, industry, farmers have high expectations from the next Budget. The reason for this is that the GDP growth rate has declined in the second quarter of this year. On the other hand, the common man is worried about inflation. Farmers are expecting an increase in money under the Pradhan Mantri Kisan Samman Nidhi. This process starts many months ago.
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The work of preparing the Union Budget starts several months in advance every year. The Finance Ministry takes the opinion of NITI Aayog and various ministries in this regard. Their expenditure plan in the new financial year is discussed with them. After obtaining the expenditure estimates of various ministries, they are analyzed. Then on this basis, the total budget deficit is calculated. Budget deficit means the difference between the government’s revenue and expenditure.
Expenditure plans of various ministries
The government allocates funds to various ministries and departments by estimating its revenue and expenditure. Before this, an effort is also made to gather the opinion of the common man with representatives and experts from different sectors of the economy. Economists and trade unions also give their opinion on the budget to the Finance Minister. Usually, the Finance Minister holds pre-budget meetings for this. The views received in this act have been given important information for making the budget. After analyzing all the suggestions, feedback and demands, the Finance Minister finalizes the budget proposals. Then the approval of the Cabinet is sought on it.
Halwa Ceremony
is organized in the Ministry of Finance after the budget proposals are approved. This traditional ceremony is organized every year. This starts the printing of budget documents. Earlier, a large number of budget documents were printed. Now the circulation of budget documents is in electronic form. Therefore, not many copies of budget documents are printed.
Information about budget proposals to Parliament
The Finance Minister presents the budget in the Lok Sabha on a specific date. During this, she tells the members of the Lok Sabha about the government’s fiscal roadmap, fiscal policies, economic reforms, proposals for changes in taxes. She also explains that the policies of the government affect the life of the common man in some way or the other. She will also give information about the steps being taken by the government to help the economically weaker section of the society.
This time’s budget will be special.
This time Finance Minister Nirmala Sitharaman will present the budget on February 1. This will be the full budget for the financial year 2025-26. A close watch is being kept on this budget. The common man is expected to get relief in income tax. The Finance Minister may announce the new Direct Tax Code.
On the other hand, the industry hopes that the government will announce measures to increase economic growth in the budget. The focus of Prime Minister Narendra Modi’s central government is on increasing the income of farmers. Therefore, there may be some big announcement for farmers in this budget. The government may increase the money of the Prime Minister Kisan Samman Nidhi.
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Poonawalla Fincorp Limited, a Cyrus Poonawalla Group-promoted non- banking finance company has embarked on a groundbreaking initiative by integrating Artificial Intelligence (AI) across its Human Resources (HR) Strategic Business Unit (SBU). This industry-first move, is set to transform operational standards and ignite innovation within the financial services sector.
Poonawalla Fincorp’s AI integration has revolutionised HR processes by drastically reducing the time to finalise job offers from traditionally around ten days to just under one—a 90% decrease. This accelerated process is made possible by advanced AI tools that efficiently handle document verification and candidate screening. The use of AI has not only sped up the recruitment cycle but also achieved significant reduction in operational costs, significantly enhancing both efficiency and cost management.
Arvind Kapil, MD and CEO, Poonawalla Fincorp, said, “This is a transformative year for Poonawalla Fincorp as we intensify efforts to create a strong, customer-focused ecosystem. We are committed to improving our team’s capabilities, which are crucial to our success. We are branching out into new business areas and setting up new distribution networks. The integration of AI in our HR processes is just the start of our extensive plan to lead in digital innovation and incorporate AI throughout compliance, customer service, and business and operations.”
Poonawalla Fincorp balances AI with a personal touch, ensuring AI eliminates tedious tasks and frees HR to focus on meaningful human interactions. Key AI-first functions now include:
⦁ Quick candidate matching: By using AI, resumes are quickly matched to job descriptions, helping recruiters identify the best candidates faster and more accurately. ⦁ Instant document checks: Using AI, candidate documents are automatically verified and processed. This saves time and reduces errors associated with manual checking, streamlining the initial steps of hiring. ⦁ Efficient candidate processing: This includes managing and processing candidates with minimal human intervention, only stepping in when necessary. This makes the recruitment process faster and more efficient. ⦁ Automated job postings: AI systems handle the creation and posting of job listings, ensuring accurate and effective job descriptions are communicated quickly across platforms with little need for manual input. ⦁ Real-time candidate screening: Automated systems assess candidates qualifications and fit for the role in real-time, providing immediate call-to-action and speeding up the selection process.
In addition to these enhancements, the HR team at Poonawalla Fincorp is developing a WhatsApp- powered AI bot system to transform the employee experience. These bots will provide instant support, resolving queries about leave, payroll, policies, and benefits in real-time, further reducing reliance on human-operated systems and streamlining processes. By assessing candidates’ technical and cognitive skills more accurately, the AI integration will also enhance support for unbiased and well-informed hiring decisions.
The Company has partnered with IIT Bombay for critical part of the AI implementation. “AI is bringing significant changes in development of the Financial services Sector. Poonawalla Fincorp has embarked on a journey to bring transformation in its ways of doing business using AI. We are happy to jointly work towards an efficient model of Industry with Academia in solving business problems by collaboration. Currently we are working on HR and other transformation projects with more to come in the pipeline.” said Dr. Pushpak Bhattacharyya, Department of Computer Science and Engineering from IIT Bombay.
India’s savings rate shoots past global average: SBI reportIANS
India’s savings rate has surpassed the global average as financial inclusion has shot up in the country with over 80 per cent adults now having formal financial accounts, according to an SBI report released on Monday.
India savings rate is at 30.2 per cent, which is higher than the global average of 28.2 per cent, the report stated.
“Due to various measures, India’s financial inclusion improved significantly and now more than 80 per cent of adults in India have a formal financial account, compared to about 50 per cent in 2011, which is improving the financialisation of the savings rate of Indian households,” the report points out.
Financial savings by Indian households shift away from bank deposits to capital marketsPixabay
The share of net financial savings in total household savings has increased from 36 per cent in FY14 to about 52 per cent in FY21, however, during FY22 and FY23, the share has decelerated.
FY24 trends reveal that the share of physical savings have again started to decline.
Among financial savings, the share of bank deposits/currency is declining as new avenues of investment like mutual funds etc. are emerging, the research report from the State Bank of India’s Economic Research Department stated.
In the last 10 years, funds mobilised by Indian companies from capital markets has increased more than 10-fold, from Rs 12,068 crore in FY14 to Rs 1.21 lakh crore in FY25 (till October).
The savings of households in ‘shares and debentures’ has increased to around 1 per cent of GDP in FY24, from 0.2 per cent in FY14 and the share in household financial savings has increased from 1 per cent to 5 per cent.
This shows that households are now increasingly contributing to the capital needs of the country, the report observed.
In FY25 (till October), a total of Rs 1.21 lakh crore of capital was raised from equity markets from 302 issues. The region-wise data shows that the Western region’s share in both number and value is higher, and the share of central region is below 3 per cent.
(With inputs from IANS)
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NASA’s Parker Solar Probe is poised to make its record flyby of the Sun on Christmas Eve. The probe will come as close as 6.1 million kilometers from the Sun’s surface, marking the first of its three final and closest approaches to the Sun. This mission has been in the making since the probe’s launch in 2018.
The Parker Solar Probe, named after astrophysicist Eugene Newman Parker, is in good health and operating normally. The mission operators at the Johns Hopkins Applied Physics Laboratory (APL) in Maryland received a beacon transmission from Parker, through NASA’s Deep Space Network complex in Canberra, Australia, confirming its status.
No human-made object has ever passed this close to a star, said Nick Pinkine, Parker Solar Probe mission operations manager at APL. This mission will truly be returning data from uncharted territory, providing valuable insights into the mysteries of the Sun.
During the closest approach or perihelion, the spacecraft will not be in contact with mission operations. However, Parker will transmit another beacon tone on December 27, to confirm its health following the close flyby.
IANS
The Parker Solar Probe has already completed 21 close approaches to the Sun, with the 21st close approach made on September 30. The spacecraft has also zoomed past Venus seven times, using its gravity to aim towards a record-setting series of flights around the Sun. On November 6, Parker completed its seventh and final Venus gravity-assist maneuver, passing within 387 kilometers of Venus’ surface. This flyby adjusted Parker’s trajectory into the final orbital configuration of its primary mission.
The probe’s mission is not just about setting records. It is also about understanding the Sun’s corona, its wispy outer atmosphere, which is hotter than the Sun’s surface. This phenomenon has puzzled scientists for years. The probe’s findings could provide insights into space weather and solar wind, which can interact with Earth’s magnetic field and can damage satellites, knock out power grids, and supercharge the northern lights.
The probe is equipped with a 4.5-inch-thick heat shield made of a carbon-composite material, which can withstand temperatures up to 2,500 F. This allows the spacecraft instruments to maintain a comfortable temperature, despite its proximity to our roiling star.
The Parker Solar Probe’s mission is a testament to the importance of Eugene Newman Parker’s body of work, founding a new field of science that continues to inspire research and many important science questions NASA continues to study and further understand every day.
Bangladesh interim government undertaking process to bring back ex-PM Sheikh Hasina from India. Photo Courtesy: PIB
Bangladesh Home Affairs Adviser, Lt Gen (Retd) Jahangir Alam Chowdhury, said a letter has been sent to India’s Ministry of Foreign Affairs to facilitate the return of former PM Sheikh Hasina, who escaped to the neighbouring country amid widespread protest against her regime on August 5.
The adviser was quoted as saying by Dhaka Tribune: “A letter has already been sent to the Ministry of Foreign Affairs. The process is underway for extradition.”
On the method of her return, Jahangir Alam Chowdhury said: “We have a prisoner exchange agreement with India. It will be carried out under that agreement.”
Ties between India and Bangladesh strained after the interim government, headed by Nobel laureate Muhammad Yunus, came to power in August following the ouster of Hasina, the longest-serving PM of the Muslim-majority nation.
Hasina faced protests over a controversial job quota and soon it spiralled into a massive agitation against her regime. She had returned to power for another term after winning the general polls in January.
In a virtual address at an event in New York earlier this month, Hasina claimed that there were plans to assassinate her and her sister Sheikh Rehana, just like their father Sheikh Mujibur Rahman and the other family members, who were assassinated in 1975.
She made the claims during her first public address after taking shelter in India following her resignation in August.
Referring to the attack on her official residence in Dhaka on August 5, Hasina had said: “The armed protestors were directed towards Ganabhaban. If the security guards opened fire, many lives would have been lost. It was a matter of 25-30 minutes, and I was forced to leave. I told them [guards] not to fire no matter what happened.”
“Today, I am being accused of genocide. In reality, Yunus has been involved in genocide in a meticulously designed manner. The masterminds — the student coordinators and Yunus — are behind this genocide,” she said.
The All-India Consumer Price Index for Agricultural Labourers (CPI-AL) and Rural Labourers (CPI-RL) for November this year declined to 5.35 per cent and 5.47 per cent respectively, compared to 7.37 per cent and 7.13 per cent in the same month last year, according to figures released by the Ministry of Labour and Employment on Monday.
The inflation for agricultural and rural labourers for November was also lower than the corresponding figures for October 2024 at 5.96 per cent for CPI-AL and 6.00 per cent for CPI-RL. This is the second consecutive month of slowing inflation as the figures for retail inflation in October were lower than September.
The easing of the inflation burden for both agricultural and rural labourers comes as a welcome relief for these vulnerable segments that are hit hardest by spiralling prices. It also leaves more money in their hands to buy a wider range of goods, leading to a better lifestyle.
The decline also comes in the backdrop of India’s retail price inflation based on the CPI index declining to 5.48 per cent in November as the increase in prices of food items eased during the month bringing relief to household budgets, figures released earlier this month showed.
IANS
The slowing inflation marks a reversal of the increasing trend in the previous two months when the inflation rate touched 6.21 per cent in October.
During November, a significant decline in inflation was observed in vegetables, pulses, sugar and confectionery, fruits, eggs, milk and products, spices, transport and communication subgroups, according to the official statement.
The easing in inflation is a welcome sign as it was the first time that the rate of retail inflation crossed the RBI’s upper limit of 6 per cent in October. The RBI is waiting for retail inflation to come down to 4 per cent on a durable basis before it can go in for an interest rate cut to propel growth.
The Reserve Bank of India (RBI) in its latest monetary policy slashed the cash reserve ratio (CRR) for banks by 0.5 per cent to make more funds available for lending to spur economic growth but kept the key policy repo rate unchanged at 6.5 per cent with an eye on inflation.
The CRR has been reduced from 4.5 per cent to 4 per cent which will infuse Rs 1.16 lakh crore into the banking system and bring down market interest rates.
The monetary policy decision maintains a delicate balance between controlling inflation and pushing up the growth rate in a slowing economy,
In his last monetary policy view, former RBI Governor Shaktikanta Das said, “India’s growth story is still intact. Inflation is on the declining path, but we cannot overlook the significant risks in the outlook. This risk cannot be underestimated.”
He was optimistic about the outlook for the economy, observing that “the balance between inflation and growth is well poised.”
India is the world’s third-largest energy consumer and one of the fastest-growing economies. As the nation strives to meet its growing energy demands and reduce its carbon footprint, biofuels have emerged as a promising alternative.
According to Vivek Sharma, Principal Analyst at S&P Global Mobility, biofuels play a pivotal role in India’s transition to a more sustainable energy future. This article explores the role of biofuels in India’s energy landscape, government initiatives to promote their use, and the challenges and opportunities for scaling up biofuel production and consumption in the country.
According to the International Energy Agency, India’s energy demand is expected to grow by over 100% by 2040. India imports about 87% of its crude oil and 44% of its natural gas, making it vulnerable to global energy price fluctuations and geopolitical instability. This dependence contributes to trade imbalances and strains forex reserves. Additionally, fossil fuel use has led to serious environmental issues, prompting India to seek cleaner alternatives.
Biofuels are derived from organic materials such as crops, agricultural waste, and even algae.
These renewable energy sources can be used to replace conventional fuels like petrol, diesel, and coal in various sectors, including transportation, industry, and power generation. Biofuels are categorized into different types based on the feedstocks used and the technologies employed for their production.
A Sustainable Solution to India’s Economic Growth and Air Pollution Challenges
India, currently the 5th largest economy and the 3rd largest photovoltaic (PV) market globally, is well-positioned for ambitious future growth. India has vast potential for biofuel production due to its large agricultural base, favourable agro-climatic conditions, and abundance of agricultural waste. With over 100 million hectares of land under oilseed cultivation, India has a significant opportunity to produce biodiesel. Additionally, the large quantities of agricultural residues, such as rice husks, wheat straw, and sugarcane bagasse, offer ample resources for bioethanol production.
A Powerful Solution for Sustainable Transportation and Environmental Impact
Biofuels, especially in the transportation sector, offer a powerful solution to help combat air pollution by replacing fossil fuels with cleaner, renewable alternatives. The biogenic advantage of biofuels lies in their ability to capture and store carbon dioxide during their growth phase, effectively reducing the overall carbon footprint compared to traditional fossil fuels.
Furthermore, biofuels derived from agricultural waste and residues help reduce the need for waste disposal, promoting a circular economy where organic materials are repurposed to create valuable energy. This not only contributes to environmental sustainability but also enhances rural economies by creating new markets for agricultural by-products.
Government Initiatives and Policies
India has already made significant strides in biofuels development, with ethanol being used as an additive in petrol since the early 2000s and biodiesel production from jatropha being explored in various regions.
The Indian government has recognized the importance of biofuels in its energy strategy and launched several initiatives to promote their production and use. Key policies include:
Pradhan Mantri JI-VAN Yojana (2019): Encourages commercial projects and R&D in the second-generation ethanol sector, promoting biofuel plant establishment and innovation.
Samarth Mission: Aims to increase biomass co-firing in power generation from 5% to higher levels for carbon-neutral energy production.
Ethanol Blending Policy (2018): Targets 20% ethanol blending and 5% biodiesel blending by 2030, with a faster goal of 20% ethanol blending by 2025-26. This supports domestic biofuel production under the Make in India initiative.
GOBAR-DHAN Scheme (2018): Converts farm waste and cattle dung into compost, biogas, and bio-CNG, promoting sustainable agriculture and waste management.
Repurpose Used Cooking Oil (RUCO): Encourages converting used cooking oil into biodiesel, addressing waste management while promoting alternative biofuel feedstocks.
Central Financial Assistance (CFA): Offers financial support for biomass projects, including up to Rs. 5 Crores for biogas and Rs. 10 Crores for BioCNG projects.
Challenges in Scaling Biofuels Production
Despite their potential, widespread adoption of biofuels in India faces several challenges:
Feedstock Availability: Inconsistent and region-specific availability of suitable feedstocks, with issues like poor yield, land competition, and water scarcity in crops like Jatropha.
Technology and Infrastructure: Limited development of advanced technologies for efficient biofuel production. Infrastructure for production, storage, and distribution requires significant expansion and modernization.
Economic Viability: Higher production costs compared to fossil fuels, with fluctuations in feedstock prices (e.g., sugar for ethanol) and land/irrigation costs for biodiesel. Economic incentives are necessary to improve competitiveness.
Environmental and Social Concerns: Large-scale biofuel production could impact food security, land use, and biodiversity, especially if biofuel crops replace food crops or lead to deforestation.
Bio CNG: A Decarbonization Solution
Bio CNG is a promising clean technology for decarbonizing mobility. Produced from organic waste through anaerobic digestion, it offers a renewable energy source while helping reduce methane emissions, which are a significant concern in India due to agricultural practices and inadequate waste management. Methane, a potent greenhouse gas, can be captured from organic waste, including agricultural residue and landfill sites, and converted into Bio CNG, preventing its release into the atmosphere.
In urban areas with high waste generation, Bio CNG can be produced locally, reducing transportation costs and environmental impact.
Ethanol and BioCNG Vehicles: Maruti and Toyota’s Vision for a Sustainable Future
Maruti and Toyota have showcased prototype vehicles designed to run on ethanol and BioCNG. However, despite the promising prototypes, the commercialization and production of these vehicles have not yet materialized. The transition from prototype to production is complex, involving various challenges such as infrastructure development, fuel availability, and technological refinement. While these early efforts highlight the potential for ethanol and BioCNG to play a significant role in the future of mobility, further investment and policy support will be critical to bring these vehicles to the market at scale.
Opportunities for Biofuels in India
India has several opportunities to overcome these challenges and become a leader in biofuels production:
Second-Generation Biofuels: The development of 2G biofuels from agricultural residues, municipal waste, and non-food crops offers a significant opportunity to scale up biofuel production without competing with food production. 2G biofuels also have the advantage of being more environmentally sustainable, as they reduce waste and utilize low-value feedstocks.
Technological Innovation: Advances in biotechnology and bioengineering can help increase the efficiency of biofuel production processes. Research into algae-based biofuels, for instance, could help overcome land-use constraints, as algae can be grown in non-arable land and has a higher yield per hectare than conventional crops.
Public-Private Partnerships: Collaboration between the government, private industry, and research institutions can help drive innovation and investment in biofuel production. Public-private partnerships (PPPs) can facilitate the scaling up of biofuel technologies, enhance infrastructure, and increase access to financing.
Global Biofuel Market: As global demand for renewable energy increases, India has the potential to become a key exporter of biofuels. With its large agricultural base and growing expertise in biofuel technology, India can tap into international markets for ethanol, biodiesel, and biogas.
Conclusion
Biofuels present a significant opportunity for India to transition towards a more sustainable, low carbon energy system. With the right policies, technologies, and investments, biofuels can help reduce the country’s dependence on fossil fuels, alleviate energy security concerns, and contribute to climate change mitigation.
However, addressing challenges such as feedstock availability, economic viability, and infrastructure development will be critical to scaling up biofuel production in India. By focusing on second generation biofuels, promoting technological innovation, and fostering public-private partnerships, India can unlock the full potential of biofuels and pave the way toward a fossil-free future.
Prime Minister Narendra Modi today, on 23 December, distributed appointment letters to more than 71,000 newly employed youth through video conferencing. During this program, Prime Minister Modi also addressed the people.
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Rozgar Mela: Priority of job creation
Employment fair is a part of the promise of the Prime Minister in which he has pledged to give priority to providing employment to the youth. This fair will provide opportunities to the youth to participate in nation building and self-reliance.
Appointments in various ministries and departments
The newly selected youth will be appointed in various ministries and departments like Ministry of Home Affairs, Department of Posts, Department of Higher Education, Ministry of Health and Family Welfare, Department of Financial Services.
Employment generation initiatives of the Central Government
reflect the government’s priority of employment generation. In these fairs, youth are employed in sectors such as central ministries, departments, public sector undertakings, health and education institutions, public sector banks.
Process of filling vacant posts
The work of filling vacant posts in the ministries and departments of the central government is being done in mission mode. Apart from this, the details of job fairs and other employment generation initiatives organized by the state governments are maintained by the respective state governments.
Aatmanirbhar Bharat Package and Employment Schemes
The central government has launched several schemes under the Self-reliant India package to increase employment opportunities and encourage businesses. Under this, long-term plans and policies have been made, so that the country becomes self-reliant and employment is created on a large scale.
Major Schemes and Programmes
The government has launched several schemes, including:
Atmanirbhar Bharat Rojgar Yojana (ABRY)
Production Based Incentive (PLI) Scheme
Pradhan Mantri Gati Shakti Yojana
Pradhan Mantri Mudra Yojana (PMMY)
PM SVANidhi Yojana
Along with this, several flagship programmes of the government like Make in India, Startup India, Standup India, Digital India, Smart Cities Mission, Atal Mission for Rejuvenation and Urban Transformation (AMRUT), and Housing for All are working towards increasing employment opportunities.
The aim of all these efforts is to create employment opportunities for the youth and make the country self-reliant.
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Scheme to redevelop railway stations to open up Rs 30,000 cr worth biz opportunitiesIANS
The redevelopment of India’s railway stations is expected to open up business opportunities worth Rs 30,000 crore for engineering, procurement, and construction (EPC) players over the next two years, according to an ICRA report released on Monday.
A total of 1,318 railway stations are being considered for redevelopment under the Amrit Bharat Station Scheme (ABSS).
The government has increased the budgetary allocation by more than seven times from Rs 2,159 crore in FY2023 to Rs 15,511 crore in FY2025 Budget Estimates (BE) of Indian Railways for the redevelopment of railway stations. This allocation is expected to remain at healthy levels in the medium term, the report states.
Earlier, the Government of India had envisaged the majority of the station redevelopment projects under the Public-Private-Partnership (PPP) mode, which accounted for around 12 per cent of the National Monetisation Pipeline (NMP) target. However, with limited participation in the PPP mode owing to restrictions on pricing, market risk related to real estate development and limited track record of PPP projects in railways, the government reallocated station redevelopment work on the EPC mode in December 2022. This has resulted in the increased budgetary allocation.
Government has increased the budgetary allocation by more than seven timesSAJJAD HUSSAIN/AFP/Getty Images
ICRA’s sector head, Corporate Ratings, Vinay Kumar G. said: “The competition, in traditional segments like roads and buildings, remains elevated and hence the railway station redevelopment provides business opportunities estimated at Rs 30,000 crore for construction companies to grow and derisk their businesses through diversification.”
“The station redevelopment project awards witnessed moderate competition in the past two years, reflecting maximum discounts of up to 18 per cent and a median discount of up to 4 per cent and have been similar to other railway EPC projects where the median discount is up to 5 per cent. Indian Railways, being a strong counterparty, the receivable cycle is also expected to remain low and comparable to that of the NHAI,” he added.
Among the stations being taken up for redevelopment under the ABSS, Uttar Pradesh has the maximum number — 149 stations — followed by Maharashtra 126, West Bengal 94, Gujarat 87, Bihar 86, Rajasthan 82 and Madhya Pradesh 80. Foundation stones have been laid for 553 stations and a total of more than Rs 20,000 crore of station redevelopment projects has been awarded to date.
Currently, the key awarded stations under the EPC mode include — Mumbai (Chhatrapati Shivaji Maharaj Terminal/CSMT), Ahmedabad, Surat, Prayagraj, Bangalore Cantt, Chennai Egmore and Secunderabad, etc. Furthermore, the awards for 765 stations are pending and some of the key stations like New Delhi, Pune, Borivali, Mumbai Central, Thane, Amritsar, etc., are yet to be awarded.
LG Energy Solution, Qualcomm to boost chip-based battery managementIANS
LG Energy Solution Ltd (LGES), South Korea’s leading battery maker, said on Monday it has reached an agreement with Qualcomm Technologies to jointly accelerate the commercialisation of system-on-chip-based battery management system (SoC-based BMS) diagnostic solutions.
Under the agreement, LGES’ new advanced BMS software will be made available on the Snapdragon Digital Chassis from Qualcomm. The BMS software will also integrate with the Snapdragon Car-to-Cloud Connected Services Platform, reports Yonhap news agency.
The partnership builds on the companies’ working relationship, where they announced earlier this year plans to develop a next-generation BMS diagnostic solution for electric vehicles and formed a technical consortium to advance their research, according to LGES.
“Through the process of technology sharing and validation, we have demonstrated the excellence of our BMS technology through synergy with Qualcomm Technologies. Now, we are officially embarking on the development for commercialisation,” an LGES official said.
LGES holds more than 8,000 patents related to BMS. The company boasts a safety diagnostic detection rate of over 90 percent and an industry-leading degradation diagnostic error rate of around 1 percent.
LG Energy Solution, Qualcomm to boost chip-based battery managementIANS
Meanwhile, the US unit of LGES has signed a multi-year deal to supply energy storage systems (ESS) to a local renewable energy infrastructure investor.
LG Energy Solution Vertech. will supply 7.5-gigawatt-hour (GWh) ESS units to Excelsior Energy Capital LP over several years starting from 2026, the company said. It didn’t provide the exact timeframe for the deal, or its value.
The ESS units will be produced at LGES’ U.S. plants, with the first delivery slated for April 2026.
The US deal follows another deal signed last month to supply 8 GWh ESS to local renewable energy firm Terra-Gen Power Holdings II, LLC. for four years through 2029. LGES expects the latest deals will help its US unit obtain further ESS contracts in the significant market.
