BUSINESS
MG Motor India invests Rs 800 crore to produce the Comet EV locally
The company broke even in March, and expects EVs to comprise 30 percent of its total sales volumes.
BUSINESS
Our focus will be solely on 'Star' e-scooter until 2025: LML MD and CEO Yogesh Bhatia
Bhatia believes there is still an ‘addressable gap’ in the domestic scooter market, including petrol-driven vehicles. He says technological capabilities and innovation will give LML Emotion and other company products an edge
BUSINESS
JK Tyre to pump in Rs 800 crore to expand output to 34 million units per annum
While the bulk of the capex—Rs 530 crore—will be deployed towards ramping up the output of passenger car radials, the remainder—Rs 270 crore will be spent towards capacity expansion of truck and bus radials
BUSINESS
MC Exclusive | Volvo to roll out EX90 electric SUV in India, aims for 100% sales from e-cars by 2030
While the XC40 Recharge was the first EV launched by the company , the launch of the C40 Recharge is slated for the second half of the year.
BUSINESS
PV sales surge 26.7% to nearly 39 lakh units in FY23; 1 in every 2 vehicles sold was a UV
Earlier this month, FADA data revealed that two-wheelers (12 percent), three-wheelers (69 percent), passenger vehicles (14 percent) and commercial vehicles (10 percent) had registered good growth in March.
BUSINESS
Sales of CNG-powered cars poised for major uptick post gas price revision
Lower running costs make the alternative to petrol-fuelled cars more attractive to customers
BUSINESS
MC Exclusive: Revolt Motors plans Made-in-India e-motorcycles for worldwide markets
With this move, Revolt will become the first such a two-wheeler manufacturer to sell an electric motorcycle built in India for global markets.
BUSINESS
Yulu developing e-scooter for individual buyers, says Co-founder & CEO Amit Gupta
This is part of Yulu’s plan to begin selling its products directly to end-users. The pricing of the vehicle and the rates of the service offering have not been disclosed
BUSINESS
New emission norms, festive season & discounts power up PV sales by 14% YoY in March 2023
FADA data shows YoY retail sales figures increasing across all segments – be it two-wheelers, three-wheels, commercial vehicles or tractors. FADA, however, says FY24 may see tapered growth due to a high base, inflationary pressures and price hikes.
BUSINESS
Carmakers look to re-energise flagging sedan market with launches
The industry expects the sedan market to record a surge in volumes this year with new models set to hit the road
BUSINESS
Maruti Suzuki seeks to double its market share in SUV segment in FY 2024
During FY 2022-23, out of the 3.889 million passenger vehicles sold in the country, 1.673 million units were SUV's and that accounted for 43 percent of the total market.
BUSINESS
Ola Electric & TVS drive E2W sales to 85,802 units in March
With the sustained demand for electric two-wheelers, industry analysts reckon that the market is set to expand further in the coming months.
BUSINESS
Lohia Auto to foray into high-speed e-scooters, looks to take on Ola Electric’s product lines
The EV arm of the Lohia Global has already invested Rs 100 crore to establish a manufacturing plant at Kashipur, Uttarakhand, with an installed capacity of 100,000 vehicles across three- and third-wheeler segments. Lohia Auto has sold more than 50,000 units of EVs comprising 14,000 e-rickshaws and 30-35,000 two-wheelers to date.
BUSINESS
Building a 100% localised EV in India not feasible: Outgoing Honda Motorcycle & Scooter head Atsushi Ogata
Certain parts inside the battery pack, such as motors and magnets, are impossible to find in India, and will have to be imported, said Ogata.
AUTOMOBILE
Honda unveils EV roadmap for India; to roll out two new electric two-wheelers in FY24
With these rollouts, the Indian arm of the Japanese auto giant will take on TVS, Bajaj, and Hero MotoCorp, which are already present in the E2Ws space.
BUSINESS
Electric cars to account for 30% of our total sales by 2025: BMW India Head
Vikram Pawah says the company is now working on ramping up supplies from its global EV facilities, from where the products are imported through the CBU route. BMW India is also exploring the feasibility of assembling its EV portfolio at its Chennai facility.
BUSINESS
EVs are not the only answer for curbing CO2 emissions in India: Maruti Chairman RC Bhargava
Bhargava, who was speaking at an event organised by Moneycontrol titled ‘Policy Next: Rs 10 trillion-dollar Push’, said that the company will be rolling out its maiden EV in a year or two.
INTERVIEW
Indian manufacturing industry must be inclusive in approach, says Maruti Suzuki Chairman RC Bhargava
R.C. Bhargava, in a fireside chat with Ravi Krishnan, Deputy Editor, Moneycontrol, said: “If you want to be a manufacturing giant, we must listen to the Prime Minister and ensure that manufacturing is inclusive... "
BUSINESS
Honda’s new SUV likely to be positioned in C segment
Honda Cars is in the middle of restructuring its entire model lineup wherein some models will be discontinued and some reintroduced. It has already announced that it will stop selling the fourth-generation City mid-size sedan, WR-V crossover and Jazz premium hatchback from the end of this month.
BUSINESS
6 e-cars across price points on Ola’s drawing board
Ola is a contender in the cab and electric two-wheeler markets. But cars are an entirely different ballgame in the world’s most competitive market, which has humbled MNCs with decades of experience
BUSINESS
Hero Electric looks for a sales uptick with the rollout of next-gen Optima and Nyx
The company is keen to regain lost market share, having slipped to fourth position from being the third-largest player.
BUSINESS
OEMs up the ante on medium-speed electric three-wheelers
While close to 25,000 units of such category of E3Ws were retailed last year (as per Vahan Data), industry players are foreseeing 4X growth in 2023 due to wider availability of products across different price points, improved financing by banks for EVs and frugal running costs.
BUSINESS
Will the new emission norms slam the brakes on the auto industry?
The new norms are likely to lead to an increase in vehicle prices. As manufacturers have been forced to hike prices hikes over the past 15-18 months due to inflation, any further rise could dampen demand.
BUSINESS
No plans to explore Platina or Pulsar electric in foreseeable future, says Bajaj Auto ED
The automaker is open to the idea in the long term if the market dynamics change, executive director Rakesh Sharma tells Moneycontrol amid a push by multiple EV startups to introduce e-motorcycles
