Page 8 - Automobile

Rosmerta lines up Rs 200 cr to set up 10 vehicle scrappage units in 3 yrs

Automobile technology and automation firm Rosmerta Technologies plans to invest Rs 200 crore to set up ten vehicle scrappage units over the next three years, according to a top company executive. The company currently operates a single vehicle scrapping facility in Manesar (Haryana) with a capacity of processing 30,000 vehicles annually. After the capacity addition, the company will be able to process up to 3 lakh vehicles annually. In an interaction with PTI, Rosmerta Technologies President Kartick Nagpal said that with the setting up of the scrappage centres, the company will be able to contribute to the circular economy by helping recycle three lakh vehicles each year. "With this regard, we plan on investing Rs 200 crore across India to leverage this situation and contribute to the circular economy," he added. The central government believes that the output from scrapped vehicle materials would save about 33 per cent on raw material costs and will bring down reliance on importe

India can become $1 trn export-led automotive hub by 2035: Report

India is the fourth-largest global automotive market, generating $250 billion in FY23 and contributing 7.3 per cent to the national GDP

Steel Strips hits new high, up 5% on record net turnover in September

SSWL expects a sharp pull back of export demand with alloy exports being the key factor for Financial year 2023-24.

MotoGP event to help promote global automobile investments in UP: Yogi

Uttar Pradesh has a lot of potential for sports activities and that is why both the state government as well as the Centre are making all possible efforts to promote this sector, Chief Minister Yogi Adityanath said ahead of the MotoGP main event in Greater Noida on Sunday. He said this during his address at the Business Conclave ahead of the main race of MotoGP in which representatives of several major domestic and multinational companies participated, with UP government's MSME Minister Rakesh Sachan and Industrial, Exports Development Minister Nand Gopal Gupta in attendance. The chief minister said he has been informed that more than one lakh tickets have been sold for the high-pulsating motorcycle race's maiden show in India being held at the Buddh International Circuit (BIC). "More than 275 national and international brands are associated with the MotoGP event which include BMW, Tissot, Michelin, RedBull, Shell, DHL, Oakley, Amazon, Petronas, etc. This race also provides an ...

TVS Motor announces India's first racing tournament for electric 2-wheelers

Event will be exclusively for company's Apache RTE motorcycles that will make debut

Citroen C3 Aircross launched at an introductory price of Rs 9.99 lakh

Strap: The C3 Aircross is powered by a 1.2-litre turbo-petrol engine that returns 110hp and 190Nm of peak torque which comes mated with a six-speed manual gearbox

Inflection Point Ventures announces full exit from Koovers at 47% IRR

Founded in 2016, Koovers is a B2B e-commerce platform specializing in supplying auto parts to independent workshops and the aftermarket sector

Nitin Gadkari moots extra 10% GST on diesel vehicles, then clears air

Stocks of auto companies take a hit

Toyota Kirloskar Motor expects record sales in bet on 'looks', high output

The company posted a net profit of Rs 1,404 crore in FY23, about 2.7 times more than its net profit in FY22

Development of sustainable mobility ecosystem need of the hour: PM to Siam

PM Modi also said that India's auto industry has been both a catalyst as well as a beneficiary in its value-creation cycle

Domestic passenger vehicle wholesales up 9% in Aug, exports rise: Siam

Highest ever August sales for passenger vehicles and three-wheelers, says report

Honda launches new SUV Elevate priced at Rs 10.99L to reach H2 target

Honda had unveiled Elevate in June and opened bookings then. For some variants, the SUV already has a waiting period of as long as 5-6 months

Indian automotive industry poised to rank number 3 in world by 2030: Govt

India's automotive industry is poised to rank number three in the world by 2030, with various schemes like the Rs 25,938 crore PLI for Automobile and Auto Components supporting the sector's growth, the government said on Monday. Ministry of Heavy Industries (MHI) is organising a conference on Tuesday to review the performance of the Production Linked Incentive -Auto Scheme. The meeting with stakeholders will be chaired by Heavy Industries Minister Mahendra Nath Pandey. The event shall have special focus on understanding the opportunities available through this scheme. "MHI considers the PLI-Auto applicants of automotive industry as one of the crucial stakeholders of the scheme," the ministry stated. The stakeholders expected to be present in the meeting include PLI-Auto applicants, test agencies etc, who will share their knowledge and experiences and address concerns and challenges. "The cascading effect of these schemes will lead to the growth of automotive industry and it is poi

Stop seizing parked old vehicles for scrapping: Delhi minister to officials

Delhi Transport Minister Kailash Gahlot on Monday directed the department secretary-cum-commissioner to stop seizing parked vehicles that have completed their stipulated life on the road and scrapping those, officials said. According to court orders, petrol vehicles that have completed 15 years since registration cannot ply on Delhi roads. Diesel vehicles older than 10 years are also not allowed on the roads. Owners of such vehicles are fined if these are found plying on the roads. The minister said in a note that it is "unfortunate" that the transport department is continuing its drive to seize old vehicles, even if found parked on the road, and sending those for scrapping. He cited "serious concerns" raised by Delhi High Court in the matter while hearing petitions of people whose vehicles were seized by enforcement teams of the transport department. Gahlot cited an office memo issued by the department dated June 27, saying the drive was not approved by the government. "It must

Gautam Singhania rests Rs 3.65 cr Maserati in garage fearing for his life

In late-2021, Maserati bought its latest supercar, the MC20, to the country, offering Indians to own the mean machine that can do over 325 kmph. Industrialist Gautam Singhania has been one of the buyers, but instead of revving on the city roads, notorious for potholes and humps, the car has been cooling-off in the garage of his home in a tony south Mumbai locality. Speaking to reporters on the sidelines of a company event, Singhania, a car enthusiast, called it the worst car he has ever driven in his life and cautioned anybody thinking of driving it, calling it as dangerous. "Frankly speaking, I paid for a Maserati but I got a lemon instead," Singhania said, adding the company blamed the Indian road conditions for the football-like bouncing he has faced while on the wheels. Singhania has taken to the microblogging website X to vent his ire two days ago, and has asked the company to appoint an independent test driver to check on the safety of the model. However, the industrialist ..

Top four electric two-wheeler makers give refund of Rs 10 crore to buyers

An investigation by the Centre found that some electric two-wheeler manufacturers were billing their charger separately to their electric scooters to cut the reported sale price of their products

Citroen plans to launch C3 Aircross SUV in Indian market by October

The company is also set to come with a new vehicle on the C-cubed platform by early next year

Indian auto industry is driving sustainable mobility through 6 initiatives

Companies have demonstrated the sector's commitment to the country's green growth

Tata Motors Q1FY24 results: Auto giant records net profit of Rs 3,202 crore

The commercial vehicle volumes were lower by 15% over the prior year due to the transition to BS-VI Phase-2

Ford slashes prices on electric version of F-150 truck by up to 17%

The cuts reverse price hikes Ford implemented over the last year that had raised the starting sticker price on its debut battery-powered truck by 50%.