Page 4 - Carmakers

India key mkt, will continue investments, accelerate electrification: Honda

Japanese auto major Honda Motor Co Ltd will continue to invest in India, a key market for its future growth strategy while also accelerating electrification of vehicles in line with its global plans to achieve carbon neutrality by 2050, according to top company officials. At the global level, Honda is open for alliances and collaboration with other firms if it offers a "win-win" situation in the wake of new development in the mobility sector, Honda Motor President and CEO Toshihiro Mibe told visiting Indian journalists at the company's headquarters here in an interaction. "Our strategy is to achieve carbon neutrality by 2050. To achieve that, we have milestones set for 2030-35 and 2040...For Honda, the Indian market is a big market and it is the market where electrification is rapidly progressing for both cars and two-wheelers," he said. Underlining the significance of India, Asian Honda Motor Co President & CEO and Head of Regional Operations (Asia & Oceania) Toshio Kuwahara

In a letter, Toyota lobbies Centre to cut hybrid car taxes as much as 21%

India taxes EVs at just 5 per cent, while the levy on hybrids is as high as 43 per cent, just below the 48 per cent imposed on petrol cars

Hyundai, vendors set to line up Rs 10,000 crore for Talegaon plant

Tata Motors and Ford India signed deal for the latter's Sanand unit for Rs 725 cr in 2022

Tata Motors developing new petrol engine to power premium SUV range

Tata Motors is developing a new petrol powertrain which would be utilised in its premium sports utility vehicles -- Harrier and Safari, according to a top company official. The models currently come with a 2-litre diesel engine. In an interaction with PTI, Tata Motors Passenger Vehicles Managing Director Shailesh Chandra said the engine is being developed and will be featured in the two models going ahead. He noted that the company focused only on diesel powertrain as 80 per cent of the around 2 lakh unit per annum market in the segment, where Harrier and Safari operate, was skewed towards diesel. "Our initial focus was on diesel for a simple reason that 80 per cent of the 2 lakh market for this SUV segment is basically diesel which means customers prefer diesel because of its better torque performance," Chandra said. This is why the auto major always kept the focus of this segment towards diesel, he added. "But we knew that going forward petrol is also going to give aggressive p

Rolls-Royce plans to cut 2,500 jobs as CEO extends efficiency push

Erginbilgic is driving his turnaround effort deeper into the company after already switching some key management positions, including the head of the civil engine subsidiary

Car manufacturers are buying 'green steel' that's far from carbon-free

"Steel made with natural gas is not climate-neutral steel and that is what ultimately matters," he said

MG Motor India exploring options for a second plant, says official

Chinese car maker MG Motor India is exploring the possibility of setting up a second plant in the country, a company official said. Currently, the company has a manufacturing plant at Halol in Gujarat where the production capacity is 1.2 lakh units per annum. "We are exploring the option of putting up a second plant in India. It generally takes two to three years for a new plant to come into stream", Gaurav Gupta, deputy managing director of MG Motor India said on Wednesday evening. The company has not identified so far the location of the possible second plant. Starting operations in India four years back in 2019, the company is presently having five models and selling around 5,000 units per month. Out of the five models, two are electric vehicles (EV), he said. Gupta said the company plans to introduce a new model every year in India, either on the EV or ICE (internal combustion engine) platforms. He said at present, 25 per cent to 30 per cent of the company's sales are coming f

Govt blocks $1 billion bid by China's BYD to set up EV factory in India

The Indian govt dismissed the plan from BYD and Hyderabad-based Megha Engineering and Infrastructures Ltd. on national security concerns

Lexus set to foray into used car biz; roll out first EV in India by 2025

Luxury carmaker Lexus from next year is looking to foray into the used car business in India, having now completed six years in the market, according to a top company official. The Japanese carmaker, which currently sells its product range through 23 touch points, aims to transition some of the sales outlets to also cater to the pre-owned car vertical. Known for its self-charging hybrid cars, Lexus is now gearing up to roll out its first electric model in the country by 2025. In an interaction with PTI, Lexus India President Naveen Soni said the automaker is now seriously considering the introduction of a structured pre-owned car programme. He noted that the company will initiate the programme in select outlets after taking into account the business viability of the dealer partner. "So I think very soon, by the third quarter or maybe next year beginning, I should say," he stated when asked about the timeframe the company was looking to get into the used car segment. Soni stated t

Kia India eyes 10% sales growth this calendar yr as chip supplies improve

Automaker Kia India expects its sales to grow by 8-10 per cent this year as compared with 2022 on the back of improved chip supplies and introduction of the updated Seltos in the market, according to a senior company official. The South Korean carmaker, which sells models like Carens, Sonet and Seltos in the Indian market, sold a total of 3.4 lakh units in the domestic and export markets last year. "So last year our domestic sales were about 2.54 lakh units while exports stood at around 80,000 units. So we did about 3.34 lakh units overall. So this year we are looking at about 8-10 per cent growth," Kia India National Head (Sales and Marketing) Hardeep S Brar told PTI in an interaction. He noted that the company has outpaced the overall passenger industry growth in the first half of the year and expects to do the same in the second half as well. "For the first six months industry has grown at 10 per cent. We have grown at 12 per cent. So like every other year we have outpaced the .

What has become of Western carmakers' Russia assets after Ukraine invasion

Here is an overview of the fate of foreign carmakers' assets in Russia

Ford to cut hundreds of US salaried workers to boost profit, lower costs

The automaker is cutting engineers in all three areas of its business, EVs, traditional internal combustion-engine models and commercial vehicles, said T.R. Reid, a company spokesman

Climate laws could price Americans out of EV market, BYD executive warns

BYD Co., China's homegrown company that's now become the world's hottest maker of electric vehicles, has a warning for the US

Foreign automakers get a second chance as India transitions to EVs

But with the advent of EVs, firms like MG Motor India Pvt, the local unit of China's SAIC Motor Corp., Renault SA, Nissan Motor Co. and Volkswagen AG may finally gain a better foothold

BMW launches its 2023 Z4 Roadster at Rs 89.30 lakh for Indian market

BMW will offer the Z4 in its M Performance trim, M40i. The car comes with a standard two-year warranty with unlimited kilometres

Trade deal: India's carmakers back zero duty on limited British imports

India is one of the most protected automobile markets where import taxes are among the highest in the world of any major car making nation

China's SAIC Motor plans to sell its stake in MG Motor to domestic entities

SAIC is in the advanced stages of talks with investors from different Indian companies, which include Reliance, Hero Group, Premji Invest, and JSW Group for equity sale

Electric bikes are breaking through in Germany, Europe's carmaking capital

Battery-powered two-wheelers will outsell traditional bikes in Germany for the first time in 2023, according to projections from the country's industry group

To match Indian aspirations, carmakers to launch 81 new vehicles this year

Carmakers are looking at new sub-segments in the SUV space and trying to expand their offerings to lure in more and more customers

Expect India to be Citroen's biggest growth driver outside Europe: CEO

French automaker Citroen expects India to be its biggest growth driver outside Europe as it looks to have 30 per cent of its total sales coming from international markets outside the continent by 2025, its global CEO Thierry Koskas said on Thursday. The company, which unveiled its all-new mid-sized SUV C3 Aircross, will introduce another new product next year as it seeks to have a presence in the core segments of the Indian market. "India is a key pillar of the Citroen strategy. It is a market that could very soon reach 5 million units (annually). We want to grow 30 per cent of our sales outside Europe (by 2025). India is a key pillar for that amongst other regions, like for example Latin America," Koskas told PTI here in an interview. At the moment, he said, "It (India) is a very significant operation and probably that will become more and more significant in the years to come". When asked about the sales targets in India, he said, "We do not communicate on numbers, but I can tell