Page 20 - Automobile Industry

Amara Raja signs licensing agreement with GIB EnergyX for Li-ion cells tech

Amara Raja Advanced Cell Technologies Pvt Ltd on Monday said it has signed a licensing agreement with GIB EnergyX Slovakia s.r.o., for lithium-ion cells technology. As part of the agreement, GIB EnergyX, a subsidiary of Gotion High-Tech Co Ltd, will license Gotion's 'LFP technology' for lithium-ion cells to Amara Raja Advanced Cell Technologies (ARACT), a wholly-owned arm of Amara Raja Energy & Mobility Ltd (ARE&M), the company said in a statement. "This comprehensive agreement enables Amara Raja to manufacture world-class LFP cells in both cylindrical and prismatic form factors," it added. The scope of licensing provides access to cell technology IP, support in establishing gigafactory facilities conforming to the latest generation process technologies, integration with Gotion's global supply chain network for critical battery materials, and customer technical support for solution deployment, the statement said. "We firmly believe that India will be one of the fastest growing

Steelbird Hi-Tech eyes 30% revenue growth this year on high domestic demand

World's largest helmet maker Steelbird Hi-Tech India is eyeing over 30 per cent revenue growth this fiscal owing to the increased domestic demand for branded helmet and potential mandatory helmet usage regulations, the company's Managing Director Rajeev Kapur has said. Kapur also said Steelbird has plans to launch 36 new helmet models for the premium segment at the Motor Show (EICMA) in Milan this year besides launching a super high-end model. "At present only 30 per cent of riders wear helmets and only 10 per cent pillion riders do so. The helmet demand in the country is expected to grow manifold. "Currently, 50 million helmets are being produced in the country -- 45 million branded and five million fake... These (fake) manufacturers are going to be out of business and that demand is going to come to us (branded companies)," Kapur told PTI. He said the company sold eight million helmets in FY24 and is expecting to sell 10 million this fiscal and 15-million by March 2026. "Last ye

TaMo announces third price hike for CVs in 2024 amid rising commodity costs

This hike will be applicable across the entire range of commercial vehicles, with variations depending on individual models and variants

Tata Motors-owned JLR drives up plan to invest Rs 1.9 trn till FY28

In FY24, the company had invested 3.3 billion pounds, and in FY25, it aims to invest 3.5 billion pounds. In FY25, the automaker expects to be net cash-positive

Auto industry grew 19% in value in FY24 as SUVs become popular: Report

Despite high volume of registrations, average price of vehicles in India is cheaper compared to advanced economies

As demand for electric vehicles dwindles, what are startups doing about it?

US EV startups are lowering manufacturing costs, laying off workforce, and racing to develop cheaper models to navigate a slump in demand due to steep borrowing costs

Demand revival may keep rally going for ball bearing industry majors

The Q4FY24 period saw volume and revenue expansions for most domestic players and many also registered margin expansions

Plans for Hyundai Motor India IPO boosts share price in South Korea

Hyundai has been locked in competition with rivals including Maruti Suzuki India Ltd. and Mahindra & Mahindra Ltd

Taking pole position: Auto, BFSI dominated Q4 corporate earnings circuit

Operating margins put the pedal to the metal on corporate earnings, fuelled by sector-wide Ebitda margin gains, driving net profits to victory in five straight quarters

Toyota shareholder meeting: Focus remains on level of support for chairman

Toyoda's approval rating fell to 85 per cent last year from 96 per cent in 2022 but he only needs a majority to be re-elected and scandals aside, business has been good

As vehicle sales hit brakes, manufacturers seek extended financing

Auto dealerships are grappling with a 60-day stockpile of four-wheeler inventory, which is imposing a financial burden due to the additional interest costs incurred during the extended holding period

Hyundai Motor, Suppliers Shares Rise in Seoul as India Unit Files for IPO

Hyundai has been locked in competition with rivals including Maruti Suzuki India Ltd. and Mahindra & Mahindra Ltd

MHI draws up three proposals for FAME-III scheme budget firepower

Proposals range from Rs 12.6K-30K cr but FinMin reluctant to allocate more than Rs 10K cr

Changing gears: India's growing love for SUVs key to Hyundai's success

The SUV segment in India is expected to grow at a CAGR of 7% to 9% from FY24 to FY29

IPO-bound Hyundai India and its rivals in world's third-biggest car market

Hyundai Motor India sought regulatory approval on Saturday to list on the Mumbai stock market in what could be the biggest IPO in the South Asian nation

Up against 60 days' inventory, car dealers seek Siam's intervention

The 60-day inventory levels are close to the 2018-19 levels when inventory inventory days had neared 70 days, and around 282 passenger vehicle dealerships had shut shop

Cars could get costlier as automobile emission norms set to tighten

Under the third phase of the corporate average fuel efficiency standards, automakers must reduce carbon emissions by one-third in three years

Chinese auto manufacturers outsold US counterparts for first time last year

"Negligence from legacy automakers, which has resulted in consistently high car prices, has inadvertently driven consumers toward more affordable Chinese alternatives," Jato analyst Felipe Munoz said

Tesla expects to hike price of China-made Model 3 in EU due to tariff hike

The message, displayed on Tesla's website for countries including Germany, France, Ireland, Belgium, and Hungary, urged prospective buyers to place their orders in June

Mercedes Benz to invest Rs 3,000 crore in Maharashtra: Minister Samant

German car-maker Mercedes Benz will make an investment of Rs 3,000 crore in Maharashtra, state Industries Minister Uday Samant said on Thursday. In a post on X, Samant said while on a tour of Germany, he met top executives of Mercedes Benz on Thursday and discussed investment opportunities in the state. "Mercedes Benz will invest Rs 3,000 crore in Maharashtra this year. This will help create employment opportunities in the state," he said. The development could give a shot in the arm, ahead of assembly elections, to the Shiv Sena-BJP-NCP government which has been battling charges from the opposition that Maharashtra is losing big-ticket industrial projects to other states including Gujarat.