Page 30 - Auto Industry

Ola Electric Q1 results: Loss widens to Rs 346 cr, revenue at Rs 1,644 cr

The company further announced plans to incorporate its own cell technology into its vehicles starting from Q1 of FY26

Xtreme 125R's production capacity to be increased by 60%: Hero Moto CEO

This is the second time in recent months that the company is increasing the production capacity of this model

Hero MotoCorp Q1 results: Net profit rises 47.3% to Rs 1,032 crore

Crosses Rs 10,000 crore revenue mark for the first time; posts highest ever Q1 profit

Metalman Auto files IPO papers with Sebi, eyes Rs 350 cr via shares sale

Auto components maker Metalman Auto Ltd has filed draft papers with capital markets regulator Sebi to mobilise funds through an initial public offering (IPO). The proposed IPO is a combination of a fresh issue of equity shares worth Rs 350 crore and an offer for sale (OFS) of up to 1.26 crore shares by its promoters, according to the draft red herring prospectus (DRHP). Proceeds from the fresh issue to the tune of Rs 25 crore will be used to part financing the capital expenditure towards procurement of plant and machinery at Pithampur manufacturing unit 2 in Madhya Pradesh. Additionally, Rs 240 crore will be used for payment of debt, besides, a portion of funds will be used for general corporate purposes, draft papers filed on Monday showed. Founded in 1986, Metalman Auto is a one-stop shop for sheet metal and tubular fabrication, metal finishing and assembly of components for OEMs in the automotive and non-automotive sectors. The company is primarily focused on manufacturing meta

Kinetic Green secures $25 million investment from Greater Pacific Capital

The investment will be used to scale production at Kinetic Green's manufacturing facility in Supa, Maharashtra, and to enhance marketing, distribution, and R&D efforts

From Tata Motor to Royal Enfield, automakers hit the gas on launches

Mahindra is coming up with Thar Roxx, and plans to reintroduce the iconic BSA Gold Star Bike

Global demand muted; gradual improvement expected in domestic market: TaMo

Tata Motors expects demand to remain sluggish in overseas markets this fiscal while pinning hopes on a gradual bounce back in the domestic market on the back of new launches and the upcoming festive season. Earlier this month, the Mumbai-based automaker reported a consolidated net profit of Rs 5,566 crore and total income of Rs 1,09,623 crore for June quarter. "Overall, from a demand perspective, we do anticipate that as far as the global demand is concerned, it is likely to remain muted. It has been that way. It's likely to remain muted. No immediate changes there," Tata Motors Global CFO PB Balaji said in an analyst call. In the domestic market, the company expects a gradual improvement in demand during the rest of the year aided by government plans to invest on infrastructure, healthy monsoons, favourable overall economic macros, new launches and upcoming festive period, he noted. "So there is a need for absolute reason why there is an optimism as far as the domestic demand buil

Zoomcar launches first fulfilment centre in Chennai, plans 100 more in 2024

Self-drive car-sharing platform Zoomcar on Friday said it has launched its first fulfilment centre in Chennai and plans to add more than 100 such centres this year. As part of the expansion, the company said, it is also looking to add 1,000 new cars on the platform by December this year. Operated by a third-party operator, such facilities manage end-to-end operations of car listings on behalf of the hosts who want to earn by sharing their cars but find it challenging to do it themselves, Zoomcar said. The company said leveraging its over decade-old experience in the car sharing business, it helps these fulfilment centres by providing services to guests. Hosts pay a nominal fee to get an array of services from these centres like managing their car, regular cleanliness, safe and secure parking space at top locations in hot spots, delivery and pick up of cars to customers and service centres, among others. Cars managed through the fulfillment center are tagged as "Assured by Zoomcar"

Hybrids preferred choice, offer best of both worlds: Lamborghini executive

The divide within the auto industry recently came to the fore after a July 5 order by the Uttar Pradesh government to waive a registration tax of 8-10 per cent for strong hybrid vehicles

How 2W market incumbents Bajaj and TVS are flexing their electric muscle

Bajaj and TVS appear to have picked up the gauntlet, taking on Ola in the sub-Rs 1 lakh e2W market - a segment they had kept away from and where Ola reigned supreme

Siam to address soaring inventory concerns in executive committee meeting

As inventory levels have surged to a high of 67-72 days, equating to Rs 73,000 crore worth of stock, the situation is raising alarms about the financial stability and sustainability of dealerships

JSW MG Motor expects 250% EV sales growth in 2024, says Rajeev Chaba

While JSW MG Motor remains optimistic, electric car sales in India have declined over the past three months

Shifting gear: PV inventory surges even as auto retail sales rise

Pileup shoots to historic high, equating to Rs 73,000 cr worth of stock

In a first: CNG passenger vehicles ride past diesel in sales race

The share of CNG in the overall passenger vehicle market increased from 13.63 percent in June 2023 to 18.5 percent in June 2024

As EV subsidies transition from FAME to EMPS, how is the industry coping?

The industry witnessed a decline after the expiry of FAME-II, despite the introduction of EMPS

Speed bump: Domestic passenger vehicle sales slip amid inventory pile-up

Two-wheeler sales grow in double digits

JLR unlikely to leverage EV policy for now: Tata Motors on new EV policy

Expects incentives for 4W fleet to continue in FAME III

Tata Motors Q1 FY25 results: Net profit jumps 74% to Rs 5,566 crore

The revenue from operations for the April-June quarter was up 5.7 per cent to Rs 107,316 crore

Ola Electric IPO: E2W maker raises Rs 2,763 cr from anchor investors

Investors include SBI MF, Templeton, Amundi, Goldman Sachs

Toyota to set up mfg plant in Maharashtra; likely to invest Rs 20k cr

Automaker Toyota Kirloskar Motor on Wednesday said it will set up a new manufacturing plant in Maharashtra at an investment of around Rs 20,000 crore. The company has inked a Memorandum of Understanding (MoU) with the Maharashtra government to examine the setting up of a greenfield manufacturing facility at Chhatrapati Sambhaji Nagar, Toyota Kirloskar Motor (TKM) said in a statement. Headquartered in Karnataka, TKM already has two manufacturing units located at Bidadi near Bengaluru. In Karnataka, the automaker, including its group companies, has invested more than Rs 16,000 crore and created close to 86,000 jobs in the entire value chain, it said. Toyota's cumulative export contributions also stand at around Rs 32,000 crore thus representing the company's export focus, it added. "Today's MoU signing marks a pivotal point as we stride into the next phase of growth in the country enabling us to contribute to enriching lives with qualitative mobility solutions locally and globally,"