ALLEN takes on edtech giants
Hello,
Electric vehicles may start dominating Indian roads sooner than expected.
Electric mobility services provider Zypp Electric wants to deploy two lakh electric vehicles in its fleet over the next 3-4 years and needs up to $300 million for that. The company’s ambitious targets come on the back of a staggering 5X growth in revenue in FY23, thanks to partnerships with logistics and delivery firms.
Moreover, in cities like Chandigarh, the end of Internal Combustion Engine vehicles may be near. The city’s administration is pondering stopping the registrations of non-electric two-wheelers from as early as July this year!
But it’s clear that the Indian driver has become more environmentally conscious. The share of hybrids in total passenger vehicle sales in India rose to 11.5% from 8.1% three years ago, while CNG now powers 10.3% of new vehicles—up from 6.4% three years ago, according to data collated by Jato Dynamics.
Internationally, for the first time, an all-electric vehicle became the world’s best-selling car when Tesla Model Y sold 267,200 units globally in January-March of this year—11,000 units more than the 2023 Corolla.
ICYMI: ChatGPT is now landing lawyers in court. A New York lawyer used the AI tool for research and it gave references to legal cases that did not exist! Now he is facing a court hearing of his own.
Even OpenAI earlier admitted, “ChatGPT sometimes writes plausible-sounding but incorrect or nonsensical answers.”
In today’s newsletter, we will talk about
- ALLEN takes on edtech giants
- Gamers cautiously optimistic as BGMI returns
- Homemakers becoming bread earners
Here’s your trivia for today: Which poison do apple seeds contain?
Edtech
ALLEN takes on edtech giants
For over 35 years, ALLEN Career Institute has consolidated its position as a major coaching institute for entrance exams in medicine and engineering. Last year, it entered the digital arena, after bagging funding of $600 million from Bodhi Tree Systems. The firm has since launched interactive learning websites and mobile apps.
The gameplan:
- ALLEN has strengthened its leadership with Abha Maheshwari to lead ALLEN Digital and Nitin Kukreja as CEO to oversee the transformation.
- The edtech company launched ALLEN NExT App for PG medical students to expand their knowledge and strengthen understanding of clinical topics.
- It intends to foster growth through both organic and inorganic means. The company has allocated 20% of its funds towards mergers and acquisitions.
Allen Digital. Image credit: Nihar Apte
Esports
Gamers cautiously optimistic as BGMI returns
Battleground Mobile India (BGMI) was banned in India last year due to security concerns. The government has now granted a three-month approval, and both players and industry stakeholders are excited about the popular battle royale game’s return.
A promising return:
- BGMI had nearly 100 million users and nearly 130 million downloads on Google Play Store at its peak in July 2022.
- Despite the ban, players like Yash Thacker continued to stream BGMI games using a VPN to bypass the geo-restriction.
- “Since I’m officially an esports player there, it wouldn’t be too difficult for me to replay the game once again,” former player Vikky tells YourStory.
Women empowerment
Homemakers becoming bread earners
Over 275 educated women from socially and economically marginalised backgrounds across Tamil Nadu are getting to put their college degrees to use for the first time. Chennai’s Shraddha Maanu Foundation is turning them into teachers and mentors for government school children.
Women workforce:
- Through the teacher-training programme Upasana, Shraddha Maanu Foundation trains these women in English, math, science, and value education through multiple intelligence methodology.
- The foundation has set up 42 micro-learning centres in government and government-aided schools across the state.
- Its programmes are supported by high-net-worth individuals and corporates through their CSR initiatives.
The women benefitting from the Upasana programme are graduates who haven’t worked at all or have had to quit their jobs post marriage
News & updates
- More layoffs: Rolls-Royce could cut thousands of jobs after the company hired consultants led by McKinsey & Co to advise on streamlining its operations. The company might lay off 10% of its approximately 30,000 non-manufacturing staff.
- Binge-watch: Global demand for Asian films and TV shows has risen in recent quarters, driven by easier access to streaming services and hit shows like Netflix’s Squid Game, as well as films like Minari and Everything Everywhere All At Once, according to data provider Parrot Analytics.
- Twinkle-twinkle: Scientists have warned that the ability of humans to see stars in the night sky could be wiped out in just 20 years because of light pollution. In 2016, astronomers reported that the Milky Way was no longer visible to a third of humanity.
What you should watch out for
- ISRO is set to launch its next-generation navigational satellite, NVS-1, onboard GSLV rocket.
- Prime Minister Narendra Modi will flag off the first Vande Bharat Express of the Northeast.
Which poison do apple seeds contain?
Answer: Cyanide. When chewed, apple seeds release the poison in the digestive system, however, acute toxicity is rare.
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