Page 17 - Automobile Industry

BLive EZY deploys 1,000 premium electric vehicles to cater festive demand

BLive EZY on Wednesday said it has deployed 1,000 units of premium EVs to cater to the festive demand in the quick commerce segment. As the festive season drives a surge in online shopping, India's quick commerce market is set for exponential growth, Blive EZY said. Moreover, during peak times, consumers expect their orders in as little as 10-15 minutes, making ultra-fast delivery essential, it added. "With festive demand for quick commerce deliveries at an all-time high, BLive EZY has deployed 1,000 premium electric vehicles (EVs) tailored to meet the dynamic requirements of this growing industry," it said. "Our customised EV fleet solution is a perfect answer that addresses both the rapid delivery challenges of today's consumers and the sustainability goals of modern businesses," said Samarth Kholkar, CEO and co-founder of BLive. Driven by platforms like Swiggy Instamart, Blinkit, and Zepto, the sector is projected to reach USD 5.5 billion by 2025, according to the strategy ...

Goyal meets Schneider Electric CEO in Riyadh to discuss investment plans

Commerce and Industry Minister Piyush Goyal on Wednesday held a meeting with Peter Herweck, CEO of energy management and automation major Schneider Electric, in Riyadh and discussed the company's investment plans for India. The minister is in Saudi Arabia to discuss ways to further deepen the strategic partnership between the two countries and explore new avenues of trade, investment and economic cooperation. "Held a meeting with Mr Peter Herweck, CEO of @SchneiderElec, a global company specialising in energy management and digital automation with a strong presence in our country. Discussed the company's investment plans for India and how it can leverage the nation's talent pool and government support to provide high-tech, sustainable, and energy-efficient solutions to the world," Goyal said in a post on social media platform X. In March this year, Schneider Electric said that it will invest Rs 3,200 crore by 2026 to make India its manufacturing hub for domestic sales as well as ...

ASK Automotive Q2FY25 results: Net profit increases 63% to Rs 67 cr

Auto component maker ASK Automotive on Tuesday reported a 63 per cent rise in consolidated net profit to Rs 67 crore in the July-September quarter of 2024-25 compared to the year-ago period. The country's largest brake shoe and advanced braking systems manufacturer for two-wheelers had reported a net profit of Rs 41 crore in the second quarter of the previous fiscal. Total income during the quarter under review increased 22.2 per cent to Rs 976 crore from Rs 798 crore in the corresponding quarter of FY 24, the company said. EBITDA (earnings before interest, taxes, depreciation and Amortisation) stood at Rs 119 crore in the September quarter, up 50.3 per cent from Rs 79-crore in Q2FY24, ASK Automotive said. "We had a strong finish to the second quarter and first half of the year in both revenue and profitability. This is the fourth consecutive quarter of robust performance by us since listing of the company last year. During Q2 FY25, we delivered strong performance in business and

Mercedes pledges cost cuts after earnings halve; blames weak China demand

The stock has lost around 8% year to date, underperforming Germany's benchmark DAX index but still faring better than Volkswagen, BMW, and Porsche AG

Renault posts forecast-beating 1.8% rise in Q3 sales amidst strong demand

Revenues came in at 10.7 billion euros ($11.55 billion), up 1.8 per cent from a year earlier and beating an analysts' consensus forecast of 10.35 billion euros provided by the company

Tesla is EV company again, back to car biz after failed robotaxi event

Tesla beat the consensus earnings estimate for the first time in five quarters, albeit an estimate that has roughly halved over the past year

Donald Trump excludes Asian, European cars from vehicle tax-break plan

Trump has increased his focus on US automakers in recent weeks as he's sought to assuage voter concerns about domestic manufacturing jobs, repeatedly pledging to restore industries

Honda recalls 780,000 vehicles in North America on fuel pump concern

Honda said because of defective high-pressure fuel pump core, cracks may form inside fuel pump, which can grow during driving, leading to possible fuel leaks or fuel smell while idling or driving

Bengal eyeing investments in carbon black industry with EV-driven growth

West Bengal has immense growth potential in the carbon black industry as the sector is expected to witness increasing demand from the electric vehicle (EV) market and battery manufacturing, an official said on Tuesday. Speaking at the Asia Pacific Carbon Black Conference, state Chief Secretary Manoj Pant highlighted the projected compound annual growth rate (CAGR) of 4.8 per cent for the sector over the next decade and invited industrialists to invest in the state's emerging industrial landscape. There is tremendous potential for growth in this industry, particularly as EV demand rises and carbon black becomes integral to both tyres and battery components, Pant said. He reaffirmed the government's commitment to fostering industrial growth and attracting investments while emphasising ongoing efforts to improve infrastructure and streamline policies to create a business-friendly environment. Pant also stressed the importance of sustainability, citing a shift towards green carbon blac

India's automobile exports rise 14% in Apr-Sept, led by PVs, two-wheelers

Automobile exports from India in the first six months of the current fiscal year rose 14 per cent year-on-year, led by gains in shipments of passenger vehicles and two-wheelers. According to Siam data, the overall exports in the April-September period stood at 25,28,248 units, up 14 per cent as compared with 22,11,457 units in the year-ago period. "Key markets like Latin America and Africa, which had slowed down for various reasons, have bounced back. This has been the main reason for exports coming back," Society of Indian Automobile Manufacturers (Siam) President Shailesh Chandra said. He was replying to a query on the reasons for the bouncing back of vehicle exports in the April-September period. Various African nations and other regions faced challenges due to devaluation of currencies. This impacted the vehicle shipments as the nations focussed on import of essential items. Automobile exports declined 5.5 per cent in FY24 due to the monetary crisis in various overseas ...

Jaguar Land Rover retail sales rise 36% to 3,214 units in Apr-Sep

Jaguar Land Rover on Tuesday said its retail sales rose 36 per cent year-on-year to 3,214 units for the first six months of the current fiscal. The strong sales performance in the April-September period was led by robust offtakes in both first and second quarter, the automaker said in a statement. The robust performance was driven by improved supplies and sustained demand for the Range Rover and Defender models, particularly with the local manufacture of the entire Range Rover portfolio, it added. "FY25 has been a high point for us so far. Our strategic decision to locally manufacture the Range Rover and Range Rover Sport has yielded impressive results, with orders surging by 60 per cent," JLR India Managing Director Rajan Amba said. The Defender's remarkable growth in H1 FY25 is a testament to its ever-increasing popularity, he added. "Our Q2 standalone growth of 41 per cent and highest-ever H1 retail numbers reflect this momentum," Amba said. The automaker remains confident abo

Global EV sales rise 30.5% in Sept as China shines, Europe recuperates

Chinese carmakers are seeking to grow their sales in the EU despite import duties of up to 45 per cent and amid cooling global demand for electric cars

Atul Greentech partners with Jio Platforms for electric vehicle solutions

Atul Auto subsidiary Atul Greentech on Monday said it has partnered with Jio Platforms Ltd (Jio) to offer electric vehicle solutions to its customers in domestic and global markets, including South America, the European Union and Eastern Africa. The partnership will focus on all three-wheeler platforms of Atul Greentech including MOBILI for passenger vehicles and ENERGIE for cargo vehicles, Atul Auto said. This collaboration leverages Jio's advanced IoT mobility technology, integrating hardware, software, and connectivity to provide real-time telematics data and high reliability for users, the company said. Integrating the Jio Telematics plus Network Connectivity in the solutions will help offer a range of features to EV owners, including tracking, vehicle health monitoring, safety-security, and navigation-routing, ensuring a seamless usage experience, it added. "Atul Greentech is looking to open new ways to responsibly choose partners to rapidly scale up electric vehicle productio

Indian EV market may grow 'strongly, steadily' till 2030: Hyundai India MD

HMIL's chief operating officer, Tarun Garg, stated that the company's first high-volume EV, the Creta EV, will be launched in the last quarter of the current financial year

Tesla sells $783 million of prime auto lease-backed debt to investors

Tesla's latest deal comes from its active lease platform, and is made up of more than 26,000 leases with borrowers holding a weighted average FICO credit score of 764, according to deal documents

IPO aimed at further localising India operations: Hyundai Motor India COO

The upcoming Rs 27,870 crore initial public offering of the Indian arm of South Korean automaker Hyundai, the first such instance of the company listing its subsidiary in an overseas market, is aimed to further Indianise operations, a senior company official said on Friday. Hyundai Motor India Ltd's initial public offering (IPO), the largest in the country's history, will open for public subscription on October 15 and conclude on October 17. Anchor investors will bid on October 14. "We have been in India now for more than 26 years. We have a very high market share. We are at number two position in India in the passenger vehicle space. We have got so much love and affection from the people of India. So we believe this is the right time to take one step forward and even further Indianise our operations," Hyundai Motor India Ltd (HMIL) COO Tarun Garg told PTI. He further said," The whole aim is to really become the most trusted brand of India." Garg was responding to a query behind

Tesla's 'dream premium' faces moment of truth at Robotaxi reveal event

Whether Musk manages to dazzle by once again pulling a proverbial rabbit out of his hat, or fails to impress, one thing is for sure: Investors are in for some turbulence

Not applying for benefits under India's new EV policy in near term: BYD

Chinese electric vehicle maker BYD is not ready to apply for benefits in the short term under India's new EV policy announced earlier this year that seeks to attract global manufacturers to the country, a senior company official said on Tuesday. The company, which launched its new all-electric multipurpose vehicle eMAX 7 priced between Rs 26.9 lakh and Rs 29.9 lakh, is looking at the homologation route in the short term to meet the demands of its high volume models in India, BYD India Head of Electric Passenger Vehicles Business Rajeev Chauhan told PTI here. "Representatives of our company, who have a good idea about that policy went in, went through that. The final conclusion... is that we have decided that, no, we are not ready to implement this policy in the short term. So, we are not applying," he said when asked if BYD was looking to apply for benefits under the new EV policy in India. Chauhan said having a manufacturing plant gives some advantages, but BYD India is not there .

Passenger vehicle sales drops 19% in September, inventory hits record high

Fada, however, said that the near-term outlook for automobile retail is cautiously optimistic as both Navratri and Diwali fall in the same month, creating strong expectations for a surge in sales

Jaguar Land Rover retail sales down 3% at 103,108 units in second quarter

Tata Motors-owned Jaguar Land Rover on Monday reported a 3 per cent decline in retail sales at 1,03,108 units in the second quarter of the current fiscal as compared to the year-ago period. Retail sales for the first six months of the financial year were at 2,14,288 units, up 3 per cent year-on-year, Tata Motors said in a statement. Production in Q2 FY25 was restricted to 86,000 units, down 7 per cent as compared to 93,000 units in the year-ago period as a result of aluminium supply disruptions reported in Q1 FY25, it added. We expect both production and wholesale volumes to pick up strongly in the second half of the financial year as the aluminium supply situation normalises, the company said.