Follow us
Former SpiceXpress CFO Naveen Kumar Amar set to join Tsuyo Manufacturing as Senior VP–Finance
The move comes as the EV powertrain maker advances capacity expansion and funding plans.
By Mukul Yudhveer Singh
1770 Views
Naveen Kumar Amar, former CFO at SpiceXpress, is set to join Tsuyo Manufacturing as Senior Vice President – Finance, according to people aware of the development.
Amar has over two decades of experience in corporate finance, including roles across controllership, P&L management and fundraising. His previous roles include leadership positions at Munchado India, MSD Wellcome Trust Hilleman Laboratories, and EDirect Pty Ltd.
The development comes as Tsuyo expands its operations. The company recently received approval from the Karnataka government to set up a 20-acre EV powertrain manufacturing and validation facility in Hubli-Dharwad, with an investment of ₹250 crore.
In 2025, Tsuyo also raised $4.5 million in a funding round led by Avaana Capital. The company has indicated plans to raise up to $20 million more to support expansion and entry into larger vehicle segments.
Tsuyo launched a new range of electric motor and powertrain technologies for three-wheelers and light commercial vehicles in February 2026.
The company has not officially confirmed Amar’s appointment.
RELATED ARTICLES
MAHLE Sees India Revenue Double to €1 Billion in 3-5 Years, Says CEO Franz
Darshan Nakhwa
15 Apr 2026
German tier-1 parts supplier flags India as a priority market for investment, engineering and exports amid shifting glob...
Tata Motors' Dual-Fuel Strategy to Tackle West Asia Disruptions
Shahkar Abidi
15 Apr 2026
Tata Motors is switching between LPG and LDO to keep factories running despite West Asia-linked energy disruptions.
India Emerges as Key Growth Market for MAHLE in 2025, Even as Group Earnings Fall
Darshan Nakhwa
15 Apr 2026
Geopolitical uncertainty, rising energy costs, currency volatility and weak demand across key markets weigh on German au...
