Page 35 - Auto Industry

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

The Indian auto industry is gearing up to roll out an array of electric vehicle models over the next few years amid a renewed push by the government to encourage environment-friendly mobility solutions with the unveiling of a new policy. Mass market players like Maruti Suzuki, Hyundai, Mahindra & Mahindra and Tata Motors are lining up new models to cater to the demand across segments. Mahindra & Mahindra CEO Automotive Sector Nalinikanth Gollagunta told PTI that starting January 2025, the company will be rolling out five new battery electric vehicles in the coming years. "These electric SUVs will be built on Mahindra's innovative INGLO platform and aim to cater to a variety of consumers through their diverse range. The launch of these SUVs is part of Mahindra's broader strategy to lead in the electric vehicle sector, and we expect 20-30 per cent of our portfolio to be electric by 2027," he noted. Maruti Suzuki India Executive Officer (Corporate Affairs) Rahul Bharti said the ..

BluSmart to add 4,000 EVs of French carmaker Citroen to its fleet

As part of the initial phase, 125 Citroën ë-C3 electric SUVs were flagged off from BluSmart's EV charging superhub in Bengaluru

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.

Auto retail sales jump 13%, PV sales scale record high in February

PV sales moved up by 12 per cent to 330,107 units as compared to 293,803 units in February last year

With growing economy, Siemens has high hopes from Indian biz, says exec

Rebellius, head of Siemens' Smart Infrastructure business, said India was a priority for future investments as it upgrades its electric grid and invests in renewable energy

Tata Motors to split CV, PV businesses into separate listed companies

Analysts feel move will allow them to fetch better valuation for PV business that houses the EV biz

SUVs power best ever car sales for February; two-wheeler sales rise

During February alone, the share of SUVs in sales was around 51.5 per cent. Rural growth cumulatively in 2023-24 was 11.7 per cent against urban growth of 8 per cent

Gensol says it has approval for its flagship two-seater electric car

Vehicle approved by Automotive Research Association of India will have driver assistance feature

Bringing a plug-in-hybrid for India makes no sense for Skoda: Senior exec

Automakers have to be 'flexible and agile' to act according to customers' wishes and government regulations, says Martin Jahn

Skoda Auto India to drive in Brezza, Sonet rival in first half of 2025

Plans four EVs for India over next few years

India key to Skoda Auto's global expansion, says CEO Klaus Zellmer

India is the most promising growth market for Skoda Auto and the country will play a crucial role in the company's international expansion, the Czech automobile firm's global CEO Klaus Zellmer said on Tuesday. In a virtual address, Zellmer talked about the company's roadmap for India and said Skoda will enter the compact SUV segment in India in a year and also launch its electric vehicle in the market. Skoda Auto India is looking to increase its share in the Indian market to 5 per cent by 2030. "We are continually growing our capacity to respond quickly to the global markets. It is here that India plays crucial role. Europe is important as a core market, but our strategic focus is on growing a new international foundations so that we can stand on two strong legs," Zellmer said. Further, he said, "India is a key contributor to our global growth and the most promising growth market for the years to come. "Strengthening our India operations also strengthens our wider internationalisa

VinFast kicks off Tamil Nadu unit construction, seeks cut in import duty

The project aims to evolve into a first-class electric vehicle production hub in the region, with an annual capacity of up to 150,000 units

Govt hits 79% of revised EV targets under FAME II as of February 18

Based on segments, the target achieved in electric two-wheelers is 78 per cent, for electric three-wheelers 88 per cent, and for electric four-wheelers much lower at 56 per cent

DRI initiates inquiry against Maruti Suzuki over incorrect HSN code

Maruti Suzuki India on Wednesday said the Directorate of Revenue Intelligence has initiated an inquiry against it over incorrect HSN (Harmonized System of Nomenclature) code of an imported component. In a regulatory filing, Maruti Suzuki India said it has received a communication regarding the inquiry from the Directorate of Revenue Intelligence (DRI), Hyderabad Zonal Unit, on February 20, 2024. "As perI inquiry, the imported good 'Shaft Assy Propeller' is imported under incorrect HSN code as per explanatory notes of WCO (World Customs Organisation). Also, IGST (Integrated Goods and Services Tax) has been paid on few automobile parts at the rate of 18 per cent whereas the correct IGST is 28 per cent...," the company said. The company will file a suitable reply toI, the filing said adding, that there is no major impact on financial, operation, or other activities due to this inquiry.

EV startup Vidyut raises $10 million, aims to expand to 40 cities

Vidyut to deploy new funds to scale its new offerings include EV insurance, lifecycle management, and EV resale

TVS Supply Chain Solutions extends contract with Rolls-Royce for 5 years

The partnership extension is for the state-of-the-art Parts Distribution Centre (PDC) in Singapore serving the Asia Pacific markets for Rolls-Royce's Power Systems business unit

40% consumers want EV range to be above 400 kms per charge: Deloitte survey

The preference for an internal combustion engine-run vehicle fell to 49 per cent in 2024 from 53 per cent in 2023. In India, the survey polled 1,000 consumers

Is 2024 the year when electric cars finally come to the automotive party?

Most of the big carmakers are eligible for PLI. It will help them reduce their costs. Carmakers also see India as a potential hub for electric car exports

Ola Electric slashes prices of three S1 models by up to Rs 25,000

Besides Ola Electric, several EV players such as Ather, Okaya, and Bajaj have slashed the prices of their products to make electric vehicles more affordable and accelerate their adoption in India

Commercial vehicle sales likely to enter into a downcycle in 2024-25

Volumes are expected to dip by 4-7 percent