BUSINESS
As auto sales vroom, minicars and bikes hit reverse gear over pre-Covid period
Minicars and entry-level motorbike sales have dropped 44 percent and 35 percent in Q2 fiscal 2022-23 compared to 4 years ago.
BUSINESS
China's BYD Auto rolls out ATTO 3 electric SUV in India; bookings open
Atto 3 will come to India via SKD semi-knocked down route and will be assembled at the company’s existing facility in Sriperumbudur, near Chennai
BUSINESS
Car sales more than double this Navratri on better availability, pent-up demand
Carmakers see tempo continuing for Dhanteras and Diwali as reduced delivery periods, rising supply, as well as pent-up demand ratchet up sales for the top five carmakers
BUSINESS
Not easy for India to go from ICE vehicles to EVs: Pawan Munjal
However, Munjal, the CMD of Hero MotoCorp views the company’s relative weakness in the domestic two-wheeler market as an opportunity to scale nationally and globally
BUSINESS
Hero MotoCorp's Vida branded electric scooters launched at Rs. 1.45 lakh
The Vida-branded e-scooters, which have been developed at the Hero Global Centre of Innovation and Technology (CIT) in Rajasthan, in association with Hero Tech Centre in Germany, will be available in three cities – Delhi, Bangalore, and Jaipur.
AUTOMOBILE
‘Modifications in semiconductor schemes make them more global investor friendly’, says industry experts
The changes notified on Tuesday mandate a minimum capital expenditure for Rs 20,000 crore, and minimum revenue of Rs 7,500 crore (including group companies) in any of the three financial years preceding the application
BUSINESS
Ultraviolette F77 e-hyperbike to be available soon
To be available in multiple variants, the high-performance bike is expected to be priced in the range of Rs 3.5 lakh to Rs 4.2 lakh
BUSINESS
Euler Motors raises 60 million in Series-C round led by GIC
In an exclusive interview to Moneycontrol, founder and CEO Saurav Kumar says funds generated will primarily be deployed towards setting up a plant in Faridabad, augmenting charging infrastructure and expanding supply chain
BUSINESS
Mercedes India introduces EQS 580 electric car at Rs 1.55 crore
The German carmaker claims the EQS 580, its first made-in-India luxury electric car, gives a range of around 857 kms (as per ARAI), which would make it the longest-ranged EV in the country.
BUSINESS
Tata Tiago EV launched at introductory price of Rs 8.49 lakh-11.79 lakh
The EV market leader now has three models in the nascent electric vehicle market.
BUSINESS
Tata Motors rolls out Yodha 2.0, Intra V20 bi-fuel, Intra V50 pickups
These small commercial vehicle offerings will cater to the transportation needs of agriculture, poultry dairy, FMCG, e-commerce and logistics sectors.
BUSINESS
Maruti Suzuki’s all-new Grand Vitara to be available from Rs 10.45 lakh onwards
Bookings for this model, which is going on for a token amount of Rs 11,000, have already crossed 55,000 units, with waiting period going up to five and a half months
BUSINESS
Ather expects monthly e-scooter sales to hit 10K units starting October this year
The electric two-wheeler maker said sales are climbing because of pent-up demand
AUTOMOBILE
Carmakers remain bullish on CNG-powered passenger vehicles
While the government’s thrust on e-mobility continues at full throttle, sales of CNG-powered vehicles have nearly doubled, from 138,404 units per year in 2018 to 278,296 units in 2022, as of August.
BUSINESS
Carmakers rev up production as chip shortage subsides
Even as demand shoots through the roof, manufacturers feel full production capacity utilisation is unlikely as they are not confident of the chip supply situation in the future. Long wait times may be around for a little longer.
BUSINESS
Kinetic Green aims to clock Rs 5,000 crore topline by FY27
The company has earmarked Rs 500 crore for Research and Development (R&D) and capacity expansion over the next four-five years.
BUSINESS
EV startups will disrupt automotive market: Amitabh Kant, G20 Sherpa
Citing the example of Tesla, Kant said that it was quite possible for a startup from India to shake up the entire traditional market for automobiles.
BUSINESS
Bridgestone India introduces Sturdo tyres for aftermarket, gears up to roll out EV-specific products
The company claims that the new Sturdo range has up to 29 percent longer life and would improve ride quality on uneven roads
BUSINESS
Will Mahindra XUV400 e-SUV have enough firepower to combat Tata Motors' e-Nexon?
While deliveries of the XUV400 are scheduled to begin from the end of January 2023, the first phase of the rollout will cover key urban cities such as Mumbai, Hyderabad, Delhi NCR, Bengaluru, Kolkata, and Chennai.
BUSINESS
BluWheelz aims to onboard 1 lakh e-vehicles on its platform by 2028
The bootstrapped fleet-as-a-service (EFaS) start-up has no immediate plans to raise funds or file for an IPO in the medium term. It is in active discussions with Delhivery, Ecom Express, Shiprocket, BigBasket for delivery solutions, , and is in advanced talks with Omega Seiki Mobility, Altigreen, Log9 Materials, Piaggio and other OEMs for vehicle purchases.
BUSINESS
FY25 topline target remains unchanged at $36 billion despite global challenges: SAMIL Chairman VC Sehgal
Wiring harness had almost come down to about 20-25 percent of our business. Interestingly, even the shareholders were very confused about what Motherson was doing.
BUSINESS
70% of vehicle parts will remain similar even post electrification of powertrains: Sunjay Kapur
BUSINESS
Cities beef up their e-bus fleets as cost of ownership gets lower
But, as the subsidies subside, the government will need to identify a sustainable source of funding to keep the services up and running.
BUSINESS
Maruti's first EV will not be priced below Rs 10 lakh, says Bhargava
Chairman R.C. Bhargava also said in the future, MSIL’s contribution to Suzuki's global production will go beyond 60 percent
