Top Indian Automobile Industry News & Updates - 30 April 2024,Tuesday
🏢 Industry
NATRAX organises automotive leadership conference for testing agencies
New Delhi: National Automotive Test Tracks (NATRAX), under NAB (Ministry of Heavy Industries, GoI) organised first of its kind conference on “Global Presence of Indian Test Agencies - Way Forward” on Saturday, April 27, 2024, NATRAX, Pithampur, near Indore, MP.
India needs to invest in R&D to hit growth targets, says CEO, Ather Energy
New Delhi: India targets to become a USD 10 trillion economy in the coming decade with the growth of sectors like infrastructure, semiconductor, electronics, electric vehicle ecosystem, and others. To hit this target a robust manufacturing sector is required which not only requires manpower but also a strengthened research and development (R&D) sector.
Will electric cars miss out on incentives in Fame III?
New Delhi: Electric four-wheelers used in commercial fleets such as taxis may miss out on subsidies under the government's upcoming electric mobility scheme, Fame-III, two people aware of the matter said.
‘Not a restricted area anymore to work on shopfloors….’ MG Motor India makes strides towards gender diversity in automobile industry
Integrating women into the male-dominated automotive industry posed its challenges. However, MG Motors India has made substantial progress in striving for gender equality. It embarked on this mission at the Halol Plant in Gujarat from the ground up, initially aiming for a 30 per cent representation from women employees. As the hiring process began, MG Motor India observed the positive influence women had on the workplace, strengthening their dedication to this endeavor. Remarkably, all publicity for this initiative was solely through word of mouth. The first batch at the Halol plant comprised 20 women.
Scrap your old car, save big on your next buy: Major offers announced across India
In what is expected to be significant boost for the govt's efforts to speed up scrappage of old vehicles, as many as 21 states and UTs have announced some major concessions for car buyers who choose to scrap their cars, ToI reported on April 29.
Ola Cabs to lay off 10% staff; CEO Bakshi quits
Hemant Bakshi, CEO of Ola Cabs, has quit just four months after joining the company. The development comes at a time when the firm is planning a restructuring exercise that will see around 10% reduction in its workforce, impacting around 200 employees.
Musk's big win in China: Tesla clears data security, full self driving hurdles for locally-made cars
Tesla wins data security clearance after Musk's surprise visit to China
Business Standard
Government likely to release guidelines on new EV policy in next 3-4 weeks
The government is likely to come out with guidelines on the new electric vehicle (EV) policy in the coming days after which it can become fully functional in the next few months. Sources in the know have told businessline that some of the manufacturers have requested the government to include brownfields also in the definition of investment and not only greenfields (new plant) so that they can benefit under the scheme.
📝 Beyond INR 76k-crore: Government to scale up semiconductor package
📝 Tata Motors slapped INR 1.92cr penalty by Raipur Tax Division
📝 Auto Industry ramps up C-suite hiring amid post-pandemic sales surge
📝 Volkswagen Tiguan L unveiled at 2024 Beijing Auto Show. Will it come to India?
📝 Tesla CEO Elon Musk makes unexpected visit to Beijing after nixing planned India trip
📝 IFC investments in India to zoom to over $4 bn, focus on climate finance
Read More >>
🎤 Interviews & Features
Small car demand won't rebound before 2 years at least: RC Bhargava, Maruti Suzuki
RC Bhargava, Chairman, Maruti Suzuki, says “so far, the market seems to be reviving in the two-wheeler segment. The turn of the small car market will come after the movement on two-wheelers is complete and the volume of two-wheelers comes back to nearer what it was before the BS-VI came into force and prices went up. My guess is two years is the minimum time we have to wait before small cars can expect that customers will be back in the market for them.”
2024 Force Gurkha Review: Rock Steady Juggernaut
Label it niche or singular in focus, the Gurkha stands as an unyielding entity that thrives in the most extreme and rugged landscapes. Force Motors has unleashed the 2024 version of this 4×4 powerhouse, now available, for the first time in both a three-door and a five-door variant. With Force Motors targeting the broader market, particularly with the five-door Gurkha, we take the SUV outside its comfort zone and see how it handles the rigours of the urban jungle.
India can't become developed nation without making products: Baba Kalyani
Large orders for the domestic industry are still missing. Companies are concerned about when they will get the return on their investments. So, what should the new government do in its first 100 days to address these areas of friction?
📝 Mahindra XUV 3XO launch today: What to expect from facelifted XUV300
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🚗 Cars / SUVs
Maruti working on affordable hybrid tech for smaller cars — Swift, Baleno, Fronx
With the transition of combustion engines to battery-operated vehicles, hybrid vehicles have gained quite a lot of prominence in the last few years. Different forms of electrification have emerged in recent times, depending on their degree of electric power assist.
Maruti likely to retain growth momentum amid improving CNG production
The stock of Maruti Suzuki India has outperformed the benchmark index by 24% in the past three months at a time when passenger car volume is expected to moderate. The company is well placed to benefit from any reduction in duty on hybrid vehicles and valuation multiple re-rating from possible listing for Hyundai Motor India. Given this, a marginal miss on the operating margin front in the March quarter may not affect the company’s performance on bourses.
Mahindra XUV 3XO launched at an starting price of INR 7.49 Lakh
New Delhi: Mahindra & Mahindra Ltd., India's leading SUV manufacturer, today launched the XUV 3XO, with prices starting from INR 7.49 Lakh. Setting new benchmarks in the compact SUV segment, the XUV 3XO combines standout design, premium interiors, comfortable ride, cutting-edge technology, thrilling performance, and unmatched safety, the company said in a media release.
Force Motors unveils new 3 and 5-door variants of Gurkha
New Delhi: Force Motors, which has introduced brands like the Tempo, Trax, Traveller, and Urbania, has revealed the 3-door and 5-door variants of its fully revamped Force Gurkha. It is now powered by a 2.6 litre turbocharged intercooled diesel engine delivering band from 1400 to 2600rpm.
Mahindra's got a tech secret behind its aggressive SUV pricing
Homegrown sports utility vehicle (SUV) manufacturer Mahindra & Mahindra has capitalized on significant investments in automotive technology to aggressively price its SUVs, according to a top company executive.
📝 M&M wants to be among top 2 players in compact SUV section in next three years
📝 Toyota Rumion G automatic variant launched at Rs 13 lakh, CNG bookings reopened
📝 Mahindra & Mahindra becomes revenue leader in SUV category
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🏍 2/3 Wheelers
Rural recovery to boost two-wheeler sales, says Honda
Two-wheeler major Honda Motorcycle & Scooter India expects robust growth in the domestic industry for the current fiscal as the rural market is showing sings of recovery.Speaking to Fe, Yogesh Mathur, director, sales and marketing, HMSI, said various government initiatives clubbed with easy financing options have enabled the two-wheeler industry to experience growth across regions both in urban and rural markets.
Bajaj Pulsar NS400 leaked ahead of launch— gets new face, headlamp setup
Bajaj Auto is currently in the process of revamping its Pulsar range of motorcycles. Recently, the Chakan-based bikemaker launched the current flagship Pulsar– the N250– with a bunch of updates. However, the N250 won’t sit on top of the Pulsar lineup, as Bajaj is gearing up to launch an all-new 400cc Pulsar soon.
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🚲 Electric 2/3 Wheelers
New Ultraviolette F77 Mach 2 vs Mach 1 — What’s new?
Ultraviolette, the EV startup from Bengaluru, has updated its F77 electric motorcycle and has named it the F77 Mach 2. The first-generation motorcycle seemed to have it all, range, top speed, acceleration, handling, and presence. However, Ultraviolette has managed to add a bit more to all of these aspects.
Kinetic Green appoints Debashis Mitra as president of 3W business
New Delhi: Kinetic Green Energy and Power Solutions Limited, a leading manufacturer of electric two and three-wheelers in India, announced the appointment of Debashis Mitra as the President of the 3-wheeler Business. He will assume the position currently held by Paul Zacharia, the President of 3-Wheeler, upon Zacharia's retirement in June 2024.
📝 The quiet revolution: How electric vehicles are redefining urban soundscapes: Hari Kiran, Co-Founder & COO at eBikeGo
📝 Ampere to launch its new flagship electric scooter today. Here’s what to expect
Read More >>
🌇 Allied Industries
KPIT Technologies reports strong FY24 growth; targets 18-22% revenue growth in FY25
New Delhi: KPIT Technologies, a leading independent software integration partner in the automotive and mobility sectors, has reported 40.4% growth in revenue and a 56% increase in profits after tax (PAT) in FY 24 compared to the previous fiscal year.
Apollo Tyres ties up with NATRAX to set up test track to validate tyres for EVs
New Delhi: Apollo Tyres on Monday said it has joined hands with NATRAX, a testing and validation services provider, to set up a test track to validate tyres for electric vehicles. The collaboration aims to provide a dedicated testing facility for electric vehicles (EV) manufacturers, enabling them to test and validate cut and chip resistance of tyres.
Beneficiaries of strong OEM and replacement demand from auto sector: 5 tyre stocks with upside potential of up to 34%
In the initial phase when global commodity prices witnessed a spike, there were fears on the street that tyre companies, whose basic raw material is natural rubber, would see a hit. While the natural rubber prices did move up and there was some correction in tyre stocks. But soon there was a recovery in the stocks and . The reason, all segments of the auto industry are doing extremely well and tyres demand being directly correlated to the auto industry has been able to ride the wave as they were able to pass increased cost to OEM and also in the replacement markets.
📝 KPIT Tech Q4 Results: Net profit zooms 49% to Rs 165.9 crore; co expects slower revenue growth in FY25
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🌢 Fuels, Lubricants & Charging Stations
Oil prices steady on Hamas ceasefire talks
Oil prices were little changed on Monday as Israel-Hamas peace talks in Cairo tempered fears of a wider conflict in the Middle East, while U.S. inflation data dimmed the prospects of interest rate cuts anytime soon.
📝 Oil prices fall 1% on Israel-Hamas ceasefire talks, U.S. inflation concerns
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💸 Finance & Insurance
Tata Motors signs MoU with South Indian Bank for CV financing
Tata Motors, India’s largest commercial vehicle manufacturer, has signed a Memorandum of Understanding (MoU) with South Indian Bank to offer convenient financing solutions to its commercial vehicle customers and dealerships.
Prasad Salunke joins Jio Financial to lead automotive, solar, and device financing
New Delhi: Prasad Salunke, an industry professional with extensive experience in financial services, has joined at Jio Financial as Business Head for automotive, solar, and device financing. at Jio Financial.
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📖 Magazines News
Toyota Rumion G AT launched at Rs 13 lakh
Toyota has added a new mid-spec automatic variant to the Rumion MPV’s line-up. The Rumion G was previously available only with a 5-speed manual gearbox, but now, buyers can opt for a 6-speed automatic transmission as well. The Rumion G AT is priced at Rs 13 lakh (ex-showroom), which makes it 1.40 lakh costlier than its manual counterpart. Bookings have commenced for an amount of Rs 11,000.
Mahindra XUV 3XO launched at Rs 7.49 lakh
The facelift for the XUV300 has launched as the Mahindra XUV 3XO. Prices start at Rs 7.49 lakh for the entry-level XUV 3XO MX1 trim, and go up to Rs 15.49 lakh for the top-spec AX7L variant. Along with a design that’s inspired by Mahindra’s upcoming BE family of electric SUVs, the XUV 3XO gets a major update to its features list (compared to the outgoing XUV300), and also gets a new automatic option for one of the petrol engines.
1,088hp Skoda Vision Gran Turismo supercar revealed for Playstation
Skoda has unveiled an outlandish electric single-seater concept for the Playstation racing game Gran Turismo. The Skoda Vision Gran Turismo is a totally unique four-wheel-drive racer, designed to “attract new fans” to the Skoda brand, according to CEO Klaus Zellmer.
Bajaj Pulsar NS400 spied undisguised before launch
Just days ahead of the big launch, images of the new Bajaj Pulsar NS400 have leaked online, giving us a clear idea of what to expect. As we had previously reported, this is an evolutionary change and there are many similarities to the existing Pulsar NS design.
Hyundai Creta EV production to begin end-2024
Hyundai is currently in the midst of extensively testing the Creta EV, with prototypes having been spied on test a couple of times in the past few months. We can now report that Hyundai Creta EV is likely to go on sale in India before one of its biggest rivals arrives in the market, the Maruti Suzuki eVX.
New Force Gurkha bookings open, launch likely in coming week
Force Motors outlets have officially begun accepting bookings for the Gurkha twins. The all-new Gurkha 5-door and the heavily updated Gurkha 3-door will go on sale by early May 2024. A few dealer sources have conveyed to us that the price announcement could take place later this week, most likely on May 2, 2024. However, there is no official confirmation from the brand.
2024 Force Gurkha 5 door review: Bigger is better
Force Motors is perhaps best known for its commercial vehicles, but it has also built a reputation in the off-road community thanks to its Gurkha SUV. Now, the Gurkha has undergone its most comprehensive overhaul yet: a new 5-door body style, a 7-seater layout, new features and an updated powertrain. So is it a more complete package now? Read on to know.
Maruti Suzuki aims to sell 6 lakh CNG cars, SUVs in FY2025
As part of its strategy to push alternative fuels on the path to reducing its carbon footprint, Maruti Suzuki is looking to sell over 6 lakh CNG vehicles in FY2025. The market leader is aiming to sell as many CNG vehicles this financial year as the rest of the market sold in FY2024. If the company attains its target, then it would register a growth of over 30 percent in volumes of CNG vehicles, from 4.5 lakh units in FY2024.
Force Gurkha returns with more powerful 140hp engine
After taking the SUV off the shelves for more than a year, Force Motors has finally revealed the heavily updated Gurkha and it's now available in two body styles – 3-door and 5-door. Besides the introduction of the Gurkha 5-door, the company has also taken the opprtunity to refresh the design, add quite a few new features and, most importantly, plonk a more powerful engine that meets emission norms.
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📰 International News
United Auto Workers reaches deal with Daimler Truck, averting potential strike in North Carolina
The United Auto Workers union announced it reached a last-minute tentative agreement with truck and bus manufacturer Daimler Truck, averting a potential strike of more than 7,000 workers.
US regulator opens preliminary probe into Ford's hands-free driving tech BlueCruise
The U.S. auto regulator said on Monday it has opened a preliminary investigation into Ford Motor's hands-free driving technology BlueCruise after being informed of two incidents involving Mustang Mach-E cars that collided with stationary vehicles.
What is Tesla's Full Self Driving and why its China rollout matters
Tesla CEO Elon Musk arrived in Beijing on Sunday on an unannounced visit, where he was expected to discuss the rollout of Full Self-Driving (FSD) software and permission to transfer data overseas, according to a person with knowledge of the matter.
Peugeot Sport aims for Endurance Racing Finish Line with Dassault Systemes Simulation
New Delhi: Dassault Systemes and Peugeot Sport, the motorsports division of Stellantis, have announced their partnership to simulate and optimize the aerodynamics of the Peugeot 9X8 Hybrid Hypercar for the 2024 endurance racing season, and demonstrate high-performing electric mobility in motorsports that creates value for Stellantis’ automotive brands.
US regulator opens probe into Ford's hands-free driving tech BlueCruise
The U.S. auto regulator said on Monday it has opened a preliminary investigation into Ford Motor's hands-free driving technology BlueCruise after being informed of two incidents involving Mustang Mach-E cars that collided with stationary vehicles. The National Highway Traffic Safety Administration's Office of Defects Investigation (ODI) opened the evaluation to investigate BlueCruise, which provides partial driving automation with the expectation that the driver actively supervises its performance.
Cheaper Teslas? China says ‘you ain’t seen nothing yet’
Investors are excited that more affordable Teslas are coming soon. But even cheaper electric vehicles from China are probably coming, too.
📝 Red Sea diversions spew carbon emissions equal to 9 mn cars
📝 Honeywell develops innovative lightweight sensor technology for Lilium Jet.
📝 SK Innovation Q2 profit tops forecast, battery unit eyes EV demand recovery
📝 Saudi Arabia Pursues Lithium to Fuel EV Ambitions
📝 Baidu, Tesla said to have agreed on mapping deal for FSD in China
📝 China backing Elon Musk on full self-driving revs up Tesla shares
📝 China lifts restrictions, gives all clear nod for Tesla cars as Musk lobbies hard in surprise visit to Beijing
📝 Tesla CEO Elon Musk visits China during Beijing auto show
📝 Hyundai, Kia join China’s Baidu to develop connected cars
📝 Tesla soars on tentative China approval for driving system
📝 EVs accounted for 20% of global car sales in 2023, Q1 2024 shows strong momentum: Study
📝 Huawei-backed Aito M7 EV bursts into flame upon impact, kills 3. Check details
Read More >>
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