Page 80 - Auto

Daimler India CV posts record sales in 2023 boosting growth in revenue

The Indian subsidiary of Germany-based Daimler Truck posted a 13 per cent growth in cumulative sales in 2023 backed by strong product demand, thereby boosting a surge in revenues, the official said

Nissan Motor plans to launch three all-new models in India by FY26

Under the new plan, which is split into mid-term imperatives for fiscal years 2024 through 2026, and mid-long-term actions to be carried out through 2030

BYD takes on EV laggards Toyota, VW with aggressive China price cuts

The automaker is currently discounting almost every electric and hybrid car model it sells, as part of a marketing campaign declaring "electricity is cheaper than oil"

Govt's big bet on Musk's Tesla 'gigafactories' in India might just work

On March 15, the government announced a new scheme to promote investment in EVs

German carmaker Volkswagen to tap demand for performance-oriented vehicles

Bullish on the growth of the sub-segment, he said it has been fuelled by how the customer preferences are evolving over a period of time

India's push for EVs may lead to entry of Chinese firms in mkt: GTRI

India's auto component imports were USD 20.3 billion in 2022-23 of which 30 per cent came from China

Auto players line up array of new EV models in coming years on govt push

Mass market players like Maruti Suzuki, Hyundai, Mahindra & Mahindra and Tata Motors are lining up new models to cater to the demand across segments

Maruti to recall 16,000 units of Baleno, WagonR over faulty fuel pump motor

The company said that it suspected that there is a possible defect in a part of Fuel Pump Motor, which in a rare case may lead to engine stalling or engine starting issues

Kia India to increase prices of vehicles by up to 3% from April 1

The decision is attributed to the escalation in commodity prices and supply chain-related inputs, the automaker, which sells models like Seltos, Sonet and Carens, said in a statement

Audi to drive in over 20 new models by 2025-end, says CEO Gernot Dollner

Audi AG will invest EUR 11.5 billion in the development of ICE (internal combustion engine), PHEV (plug-in hybrid electric vehicle) and other segments

Ashok Leyland partners with Minus Zero to develop self-driving trucks

Minus Zero, founded in 2021, is backed by technology venture capital fund Chiratae Ventures among other investors

Auto component makers to gain from new 4-wheeler electric vehicle policy

Currently Indian ancillary makers are not all capable of supplying EV-specific components but some component makers are suppliers to global EV OEMs

New EV policy to help launch many premium-quality SUVs: VinFast Auto

"This forward-looking policy helps us introduce a wide variety of smart, green, premium-quality SUVs, at inclusive prices, along with outstanding aftersales policies," he added

Uttar Pradesh govt invites private players to invest in e-mobility market

The transport department is also looking to buy 100 e-buses, which will be deployed on select routes, such as Ghaziabad, Agra, and Ayodhya districts

Auto companies target smaller towns as rural sales growth beats urban

The road infrastructure in rural areas is improving, leading to better demand for vehicles, OEMs say.

India opens doors for global EV makers; scheme to help USA's Tesla

Scheme allows EV imports by manufacturers who commit to invest Rs 4,500 cr at 15% custom duty for 3 years

New scheme for electric vehicles may put global majors in fast lane

While Vinfast has already announced an investment of Rs 4,000 crore to set up an electric vehicle (EV) plant in Tamil Nadu, Tesla's next move will be watched carefully

Initial cost of e2W may rise 10% due to reduced subsidy, says ICRA

Credit rating agency ICRA expects the initial cost of an electric two-wheeler (e-2W) to increase by 10 per cent due to the reduced subsidy

India approves new EV policy in boost to Tesla's market entry plans

New policy mandates companies to invest a minimum of $500 million in the country and will allow them three years to set up local manufacturing for EVs

Nissan considering business partnership with Honda to make key EV parts

Nissan is considering partnering with Honda on key EV parts, as well 'kei car' - boxy vehicles that are smaller and less powerful than regular cars, primarily made for the domestic market