BUSINESS
Tata Motors may offer Battery-as-a-Service option to drive up electric vehicle sales: Sources
The BaaS model is expected to bring down the ex-showroom prices of its battery EVs by 25-30 percent, sources said.
BUSINESS
EV ride-hailing startup BluSmart in talks to raise up to $100 million
BluSmart, which operates in Delhi-NCR and Bengaluru, went international in June with the launch of a premium all-electric limousine service in Dubai.
BUSINESS
Kia India to drive in its mass market e-car by next year, aims for 15%-18% share in EV market by 2030
The Indian arm of the Seoul-based firm plans to consolidate its position in the ICE Sports utility vehicle (SUV) segment and is looking to bring in models as per the market demand
BUSINESS
Hyundai Motor India likely to launch $3-billion IPO on October 14
The dates for the IPO are almost final, barring any unforeseen turn in market sentiment because of escalating tensions in West Asia, sources say
BUSINESS
E2W sales up 40% YoY at 89k units in September, Bajaj outsells TVS
However, the E2W retails were just 1.13 percent higher on a Month-on-Month (MoM) basis from 88,929 units in August
BUSINESS
India Inc fears crude oil rise, supply chain disruptions but impact likely to be limited
The price of crude oil rose over 3% on October 2 on output concerns following Iran's biggest military blow against Israel, according to a Reuters report.
AUTOMOBILE
PV sales fall nearly 2% at 3.57 lakh units in September, 3rd month of decline
While carmakers were cutting down dispatches to match retail numbers, the high base effect of last year also resulted in degrowth in total PV volumes
BUSINESS
Spike in pre-owned SUV demand fuels used-car market boom
Some of the best-selling models in that category include Hyundai Creta (Rs 1.47 - 22.99 lakh), Tata Nexon (Rs 2.50-16.50 lakh), Mahindra XUV500 (Rs 1.80 -19.90 lakh), Mahindra Scorpio (13,000 to Rs 20.11 lakh), Mahindra Thar (Rs 50,000 to Rs 20 lakh), and Renault Duster (starting at Rs 1,68,000).
BUSINESS
Kia, Mercedes, BYD set to launch new models in coming weeks; Maruti Suzuki gearing up for all-new Dzire
Amid weak demand, new vehicle launches and pricing adjustments are set to play a key role in reviving the automotive industry in these tough times by attracting footfalls into the showrooms.
BUSINESS
Auto Expo 2025 to see highest number of EV rollouts; Maruti, Hyundai, Tata, JSW MG gear up to showcase zero-emission cars
Several battery-driven models will be showcased by top seven car manufacturers at Auto Expo 2025, according to industry sources.
BUSINESS
Euler Motors enters electric LCV market, launches Storm EV at Rs 8.99 lakh
The EV startup has spent Rs 100 crore for the development of this model, which will have an initial production capacity of 1,000 units per month. It will introduce the two models in seven major cities, including Delhi, Chennai, Mumbai and Hyderabad and later take them to other cities where it operates.
BUSINESS
myTVS rolls out mobility-as-a-service platform for last-mile EV fleet player
The company has partnered with MoEVing, an EV-based logistics firm to start Mobility-as-a-Service (MaaS) to provide end-to-end vehicle management solutions.
BUSINESS
In its new innings in India, Ford to focus on electric vehicles
Ford exited India in September 2021 after struggling to stay competitive despite a broad range of ICE models, including the Figo, Aspire, EcoSport and Endeavour.
BUSINESS
Honda’s two-wheeler arm targets up to 12% growth, despite EV onslaught from rivals
The demand for Honda Activa, which is currently available in 100cc and 125cc variants, is on an upswing, despite the availability of wider alternatives in the electric two-wheelers (E2W) market, says a company official. The Japanese two-wheeler manufacturer is looking to sell 5.4 million units during this financial year.
BUSINESS
Windsor will become our top seller, raising EV share in sales to over 50% by year-end: JSW MG Motor CEO Emeritus Rajeev Chaba
The company is offering the Windsor at Rs 9.99 lakh plus Rs 3.5/km for battery. It has also introduced an ownership plan through a Battery-as-a-Service (BaaS) offering and claimed that owning the Windsor, an electric CUV, will be at the price equivalent of a manual engine-based compact SUV.
BUSINESS
Ashok Leyland will continue to fund Switch Mobility, consider investors at right valuation later, says MD & CEO
It was earlier reported that Ashok Leyland will evaluate further investments in Switch Mobility, after a fund infusion of Rs 1,200 crore in the maker of electric buses in India and the UK, even as it remained open to external investments in the company.
BUSINESS
Maruti Suzuki to launch EV with 500-km range, says CEO Hisashi Takeuchi
To increase customer confidence, Maruti will also export these same EVs to markets like Europe and Japan, the CEO added
AUTOMOBILE
Facelifted Alcazar to bring in a new set of customers, sell higher volumes in urban markets, says Hyundai Motor India COO
The company every month sells around 2,000-2,500 units of Alcazar, which was revamped at a starting price of Rs 14.99 lakh (ex-showroom), lower than Rs 16.78 lakh of the outgoing version (ex-showroom).
BUSINESS
Indian auto industry could be worth $1.6 trillion by 2047, EVs driving that boom, says IN-SPACe's Pawan Goenka
In order to achieve that, the automotive sector would need to grow at an average nominal rate of 11 percent in topline revenue in dollar terms, according to Goenka.
BUSINESS
There's a little bit of India in every Merc sold today: Manu Saale, MD, Mercedes India R&D
Mercedes-Benz India's R&D unit currently employs over 8,500 professionals across engineering, digitisation, testing and simulation, and data science
BUSINESS
From Rs 10 lakh to Rs 2.25 crore: It's raining car launches this festive season
In the face of sluggish demand, new vehicle launches are set to play a pivotal role in reinvigorating the automotive market, according to S&P Global Mobility
BUSINESS
Despite trimmed wholesale despatches by carmakers, dealers' inventory swells to 7.5 lakh units
According to FADA president Manish Raj Singhania, while there has been some reduction in factory despatches by a few carmakers, the tentative wholesale figure is turning out to be higher than the actual retail numbers.
BUSINESS
Carmakers bet on discounts and price cuts to entice buyers ahead of festive season
Dealership lots are chock-full with unsold vehicles as potential buyers seem to be waiting for the discounts and add-on offers that come during the festive season sales, which has rolled around later this year than in the previous year. For canny buyers, though, the spate of rebates on offer could translate into an early bonanza.
BUSINESS
Electric 2W sales decline 18% MoM to 88,473 units in August; Ola Electric’s sales slide
Industry observers reckon that the downtick in numbers were largely driven by the preponement of purchases by prospective buyers in July as many of them were expecting the phaseout of Electric Mobility Promotion Scheme 2024
