Page 4 - Automakers

Kolkata-based Mihup eyes IPO, in advanced talks with leading automaker

Kolkata-based conversational intelligence firm Mihup on Wednesday said it is in advanced talks with one of India's top passenger automobile makers to integrate its in-car virtual assistant, following its partnership with Tata Motors. The company, which has raised Rs 100 crore in venture funding, including Rs 50 crore in October last year, is also preparing for an initial public offering (IPO) within the next two years, Mihup Co-founder & CEO Tapan Barman told PTI. Mihup's voice assistant, which replaced a global competitor's solution in Tata Motors' vehicles in 2021, is now deployed in over one million cars, and the company expects rapid growth with new OEMs, the official claimed. The upcoming deal with another top passenger car maker is expected to further strengthen its foothold in the automotive sector. "I cannot divulge the OEM now due to confidentiality, but it is one of the largest car makers in India," Barman said. The company aims to scale its proprietary AI-driven voice .

500 kms on a 5 minute charge? BYD reveals new 1,000 kW battery system

Electric vehicle maker BYD promises gas-like refuelling speeds with latest EV charging platform, plans nationwide charging network in China

'Forced' to import certain steel grades: Automobile manufacturers

Cite lack of viable alternatives meeting emission & safety norms, in letter to DGTR

Maruti Suzuki approves reappointment of Hisashi Takeuchi as MD & CEO

Maruti Suzuki India Ltd on Wednesday said its board has approved the reappointment of Hisashi Takeuchi as Managing Director and Chief Executive Officer for a further period of three years with effect from April 1, 2025. The board in its meeting held on January 29, 2025 approved the appointment of Takeuchi as MD and CEO for a further period of three years till March 31, 2028, Maruti Suzuki India said in a regulatory filing. Takeuchi was first appointed as Managing Director and Chief Executive Officer with effect from April 1, 2022, consequent to the completion of the term of his predecessor Kenichi Ayukawa on March 31, 2022. He has been on the Board of Maruti Suzuki since July 2019 and was Joint Managing Director (Commercial) from April 2021 till his elevation. He joined Suzuki Motor Corporation (SMC) in 1986 and has a vast experience in the international operations at SMC as well as in overseas markets.

Automakers want support for green tech, EVs, consumer spending boost

Automakers want the government to provide merit-based policies to support a full range of green technologies and alternative fuels besides allocations to facilitate electric vehicle ecosystem like charging infrastructure to further accelerate sustainable mobility in the upcoming Union Budget. With the automobile industry showing early signs of growth slowing down, they said budgetary initiatives to boost the disposable income of consumers are necessary to support robust growth. "We request the government for appropriate merit-based policies that support and help in popularising full range of greener technologies and alternative fuels thereby helping in faster and greater adoption of multiple sustainable mobility solutions," Toyota Kirloskar Motor Country Head and Executive Vice President - Corporate Affairs and Governance - Vikram Gulati said. Further, he said measures to encourage the scrapping of old vehicles through the budget will also boost demand for newer generation vehicles

Global companies likely to be affected by Trump's promised tariffs

US automaker Tesla encouraged its Chinese suppliers to set up plants in Mexico in 2023 to mainly supply its planned factory in Mexico

Entry of more players to help break barriers: Auto industry leaders

The entry of more players in the EV segment will help in breaking barriers and accelerate adoption of electric mobility in the Indian market, according to leading automobile manufacturers. More product introductions will help in catering to diverse customer needs with competition leading to expansion of the market, they noted. The announcements by passenger vehicle market leader Maruti Suzuki India with its e VITARA and Hyundai Motor India's Creta Electric will help change the negative narrative regarding EVs in India and a unified voice from the Indian automotive industry across players and segments will help in better transformation and acceleration towards electric adoption, top executives of different automakers said. "The general narrative on EV (earlier) was a bit more on the negative side, with a lot of question marks. Today, with all Original Equipment Manufacturers now having a credible EV portfolio, and they're all wanting to sell, I think the narrative on EVs will change,

Carmakers in India plan EV onslaught in 2025 despite slowing global demand

Electric cars will take centre stage at India's five-day auto show in New Delhi starting Friday with models from new Vietnamese entrant Vinfast shown alongside Maruti Suzuki and Mahindra & Mahindra

Amid competition & delays, Volkswagen faces another year without new EVs

The manufacturer's deliveries risk slumping again because its namesake VW brand doesn't have a new electric car coming in 2025

Maruti Suzuki reports 30% rise in wholesales at 178,248 units in Dec 2024

Maruti Suzuki India Ltd on Wednesday reported 30 per cent rise in total wholesales at 1,78,248 units in December 2024 as compared to 1,37,551 units in the same month a year ago. Overall domestic sales, including that of light commercial vehicles and supplies to Toyota Kirloskar Motor, were at 1,32,523 units last month as against 1,06,492 units in December 2023, up 24.44 per cent, Maruti Suzuki India (MSI) said in a regulatory filing. Total domestic passenger vehicle (PV) sales were at 1,30,117 units in December 2024 as compared to 1,04,778 units in the same month a year ago, up 24.18 per cent, it added. Sales of mini cars comprising Alto and S-Presso were higher at 7,418 units last month as compared to 2,557 units in the year-ago period. Similarly, sales of compact cars such as Baleno, Celerio, Dzire, Ignis, Swift and WagonR were up at 54,906 units as against 45,741 units in December 2023. Utility vehicles, including Brezza, Ertiga, Fronx, Grand Vitara, Invicto, Jimny, and XL6 clo

Mahindra logs 18% jump in Dec car sales to dealers on strong SUV demand

(Reuters) - Indian automaker Mahindra & Mahindra said on Wednesday it clocked an 18% jump in sport utility vehicle sales to dealers in December due to strong demand.

Bajaj Auto reports 1% decline in total sales at 3,23,125 units in Dec 2024

Bajaj Auto on Wednesday reported a 1 per cent decline in total sales at 3,23,125 units in December 2024 compared to the same month a year ago. Bajaj Auto said in a regulatory filing that the company had sold a total of 3,26,806 units in December 2023. Total two-wheeler sales were at 2,72,173 units last month against 2,83,001 units in the year-ago period, down 4 per cent, it added. Domestic two-wheeler sales stood at 1,28,335 units compared to 1,58,370 units in the corresponding month a year ago, a decline of 19 per cent, the company said. Exports of two-wheelers were higher at 1,43,838 units last month over 1,24,631 units in December 2023, up 15 per cent. Total commercial vehicle sales were higher by 16 per cent at 50,952 units in December 2024 from 43,805 units a year ago, the company said.

China's BYD slams reports of poor conditions at Brazil's factory site

A spokesperson for Chinese automaker BYD has objected to reports about poor conditions at a construction site in Brazil where it is building a factory, saying the allegations were aimed at smearing China and Chinese brands. Earlier in the week, a task force led by Brazilian prosecutors said it had rescued 163 Chinese nationals it said were working in slavery-like conditions at the site. A video from the Labour Prosecutor's Office of dorms housing the workers showed beds with no mattresses and rudimentary cooking facilities. A BYD spokesperson, Li Yunfei, vehemently objected in a statement posted Thursday on his Weibo social media site. In the matter of smearing Chinese brands, smearing China, and attempting to undermine the friendship between China and Brazil, we have seen how relevant foreign forces maliciously associate and deliberately smear, it said, also criticizing media reports about the situation. BYD, which stands for Build Your Dreams, is one of the world's largest produc

Honda, Nissan aim to merge in 2026 as negotiations begin this week

The two automakers plan to create a holding company that would be helmed by a president picked by Honda

Volkswagen, labour unions continue talks over plant closures and pay cuts

Talks have been ongoing since Monday in hopes of reaching an agreement before Christmas to prevent massive strikes

Chinese auto component makers likely to skip Bharat Mobility Show

Chinese auto component makers are likely to skip the upcoming Bharat Mobility Show which is scheduled to be held from January 17-22 at three different locations across Delhi-NCR. The six-day Bharat Mobility Global Expo 2025 will be held between January 17 and 22 next year at Bharatmandapam, Yashobhoomi (India International Convention and Expo Center) Dwarka, and India Expo Center & Mart, Greater Noida, simultaneously. "I don't think so," Automotive Component Manufacturers Association of India (ACMA) Director General Vinnie Mehta said when asked about the participation of the Chinese in the marquee auto event. "We don't have booking from the Chinese...I mean, we did not close the booking for anyone, but they did not apply (on the portal)," he added. In the expo, over 50 countries are expected to participate. About 35 vehicle makers will participate in the Auto Expo Motor Show 2025. Sectors which will be represented include auto, auto components, tyres, e-mobility, software, steel ..

Insurers urge IRDAI crackdown against OEM-linked motor insurance brokers

Insurance companies are demanding an open architecture where customers can choose policies from multiple insurers without being limited by OEM brokers

Chinese automakers pivot to hybrids for Europe to counter EV tariffs

Some manufacturers are also shifting production and assembly to Europe to lower the cost around tariffs

Wheels India pegs to double hydraulics business in next 2-3 years: MD

Wheels India Ltd, a manufacturer of wheels for trucks, passenger vehicles and construction equipment, after witnessing market opportunities in the exports segment, expects to double its hydraulics business over the next two-three years, a top official said. The contribution from the hydraulics business to Wheels India Ltd is currently at Rs 150 crore, company managing director Srivats Ram said. "There are a lot of export opportunities in the hydraulics business and we are expanding to meet the global requirements. We are a supplier to a manufacturer in Europe and North America... We are confident of doubling the hydraulics business in the next 2-3 years from the current level of over Rs 150 crore," Ram said, while declaring the company's financial performance here. Wheels India was proceeding with its plan committing Rs 225 crore towards capital expenditure for this year, he said. The city-headquartered company has already earmarked about Rs 225 crore for taking up expansion of the

Hyundai Motor's Q3 operating profit falls 7%; misses analysts' estimates

Some analysts said its stock price decline on Thursday reflected disappointment about the lack of a shareholder return policy following the Indian IPO