Page 45 - Automobile Industry

Gentari signs pact with Tata Motors for 5,000 e-commercial vehicles

Clean energy solutions provider Gentari on Monday said it has signed an agreement with Tata Motors for the delivery of 5,000 units of e-commercial vehicles. The memorandum of understanding (MoU) through its affiliate entity is for three years, Gentari said in a statement. "Gentari, through its affiliated entity Amplus Power Supply Private Limited, signed an MoU with Tata Motors, India's largest commercial vehicle manufacturer, in 2022, whereby the latter will deliver 5,000 units of Tata Ace EV, over three years. The MoU includes delivery of 1,000 units in the first year for deployment in cities, such as Delhi, Bengaluru, Hyderabad, Pune and Kolkata," it said. High-quality electric four-wheelers coming into the market opens a whole new segment to electrify in the urban delivery ecosystem, MoEVing CEO Vikash Mishra said. "We are excited to work with Gentari to deploy three- and four-wheeler commercial electric vehicles across India to reduce the carbon footprint of deliveries. With o

Five firms make the PLI cut to manufacture hydrogen-powered vehicles

Ashok Leyland, Eicher, Pinnacle, Tata, and Booma get the nod

We want to become No. 1 EV player in India, says Hyundai's Unsoo Kim

"The Indian govt's initiatives on EVs are very strong and customers want to buy EVs. This will make the country's conversion to EVs faster than other markets, and I hope even faster than the US"

Honda to launch new car every year till 2028 in Indian market

Kunal Behl, VP, Honda Cars India said that there are also plans to re-launch an SUV in the first half of the next fiscal year to ride on the booming segment in the country

Tata Motors to raise prices of commercial vehicles by 5% from April

This would be the fourth price hike by India's largest automobile maker this fiscal year

Hyundai inks pact to acquire General Motors India's Talegaon factory

Maharashtra facility can produce 1.3 million cars and 1.6 million engines annually

myTVS to set up centres in 3 Asia Pacific nations for overseas foray

Vehicle service provider is present across India through around 25,000 garages and 1,100 outlets

Hyundai Motors joins the list of increasing plant acquisitions in India

ArcelorMittal Nippon Steel and JSW Steel are fighting it out for NMDC's steel plant, while Tata inches closer to the iPhone plant acquisition

Lamborghini eyes Tier I, Tier II cities for business growth in India

Having established a presence across top cities in India, Italian automaker Automobili Lamborghini is now eyeing customers in smaller centres to generate additional volumes, according to a top company official. The super sports car maker is bullish on the country's economic growth, a rise of first-generation entrepreneurs and large-scale road infrastructure development to fuel future business growth. In an interaction with PTI, Lamborghini India Head Sharad Agarwal said a few years ago the demand was largely concentrated in bigger cities and metros but now it is well spread out. "We launched a programme and reached out to possible customers in 100 cities. Today we have 50 cities in India where you can find a Lamborghini owner and these Tier I and Tier II cities now contribute to more than 25 per cent of the business. So these cities are becoming very important for us," he noted. Lamborghini began its India operations in 2007. Last year it sold 92 units in India, a growth of 33 per

Passenger vehicle dispatches rise 11% to 291,928 units in Feb: Siam

PV exports decreased by 9.24 percent Y-O-Y to 46,486 units in February this year. Maruti Suzuki, largest exporter of PVs, saw its foreign sales decrease by 28.7 percent to 16,956 units

Nearly 80% of targetted 1 mn e-two-wheelers sponsored under FAME so far

In the eleven months of FY23, some 649,000 E2Ws were sold at an average of 59,000 units a month. E2W made up more than 60% of the overall 1.04 million EVs sold so far

Uncertainty in Nigeria affects Indian auto, pharma, and consumer firms

Consumer companies like Godrej and Dabur too have significant exposure to Nigeria

Rajan Amba to take over as JLR managing director, succeeds Rohit Suri

Appointment comes at a time when JLR is facing supply chain issues hampering its production

Tesla now cheaper than average new car in the US, says report

Even before those cuts, it was the third best-selling SUV in the US last year, after the Toyota RAV4 and the Honda CR-V

Near-term demand worries in replacements biz cloud Apollo Tyres' outlook

There could be some margin relief on account of falling input costs

SAS' capex need is much lower than our traditional business: Motherson

SAMIL announced it is buying SAS Autosystemtechnik (SAS), which manufactures automobile cockpit modules, from French company Faurecia at an enterprise value of Rs 4,790 crore

Minda Corp set to focus on organic growth after 15.7% Pricol buy

Pricol is a major player in the connected vehicle solutions and telematics segment of the auto component industry

Semiconductor chip supply constraints put brakes on auto OEM ramp-up

Firms struggle to increase production as supplies yet to fully normalise

Japan's Nissan reports 55% jump in profits as chip shortages decline

Nissan reported a 55% jump in October-December profit Thursday, as the Japanese automaker seeks to embark on a less bumpy journey with its French alliance partner Renault. Profit for the quarter at Yokohama-based Nissan Motor Co. totaled 50.6 billion yen ($386 million), up from 32.7 billion yen the previous year. Quarterly sales surged 29% to 2.8 trillion yen ($21 billion), as a shortage of computer chips that has slammed the world's automakers gradually eased, according to Nissan. The crunch was caused by COVID-19-related lockdowns and other restrictions, which hindered Nissan's ability to deliver vehicles to customers. Some buyers were waiting for a year for their Z sportscar or Ariya sport utility vehicle, said Chief Operating Officer Ashwani Gupta. We really don't want our customers to wait this long, he told reporters. The rising cost of raw materials, inflation pressures and volatile currency exchange rates have added to the risks for the auto industry, including Nissan. N

India's Escorts Kubota posts 7.5% drop in Q3 profit on higher input costs

Indian tractor maker Escorts Kubota Ltd reported a 7.5% fall in quarterly profit on Wednesday, as margins were pressured from persistently high raw material costs