Deep pockets for EV wars: 5 auto stocks with upside potential of up to 52%
While it might appear to be a non-event as it happens every month, the reaction of the street to monthly auto sales numbers is something which does give an indication about the underlying sentiment on the street. This time it was positive for any company where numbers were better than projections. Another thing which is equally important is the reaction of the street on the launch of a new model or entry into a new segment by any auto company, in this case, it may not come on the day but over a few days. The launch part of it would become even more important in the coming months as launches in EV space pick up pace. For the last two years, the out-performance of stocks like TVS motors and Tata motors can be attributed to their moving early into EV space.

EV sector may have to wait longer for FAME subsidy extension
The firms operating in the electric vehicle sector that had hoped for an extension of the FAME subsidy will have to wait probably for the full budget post Lok Saha polls as Thursday's interim budget had no mention of it.

Tata Motors posts Rs 7,025 crore net profit for Q3 FY2024
Tata Motors, one of the leading passenger, luxury and commercial vehicle manufacturer has announced a robust financial performance with growth across businesses.

Tata Motors sees EVs and CNG to contribute 50-60% of PV sales by FY2026
Tata Motors, one of the leading passenger vehicle makers in the country is optimistic on the uptick in demand for green vehicles and consumer acceptance of electric vehicles.

India's PV sales to slow down in FY25, EV market to be steady: ICRA to Siam
Sales in FY25 will hit around 4.4-4.5 million vehicles compared to 4.1-4.3 million expected in FY24 and marking a growth of 6-9 per cent over FY23, said rating agency ICRA in a presentation before the 18th conclave of the Society of Indian Automobile Manufacturers (Siam).
 

Budget 2024: Green hydrogen’s allocation rises by whopping 102%
New Delhi: The Union Budget for 2024-25 has provided for a Budgetary allocation of INR 600 crore for the National Green Hydrogen Mission, a whopping 102% increase over the previous INR 297 crore provided in the Expenditure Budget document for 2023-24.

Budget: Charging infra push to electrify EV adoption
New Delhi: The finance minister's announcement on supporting the development of an ecosystem for electric mobility is expected to help boost manufacturing of electric vehicles as well as address one of the biggest obstacles to EV adoption: lack of convenient battery charging stations.

Sitaram Kandi appointed as CHRO of Tata Motors from April, 2024
Mumbai: Tata Motors, India’s leading automobile and mobility solutions company, Friday announced that Sitaram Kandi is being appointed to the role of Chief Human Resources Officer (CHRO) of the company, effective April 1, 2024.

Tata Motors’ profit zooms by 137% in Q3
Mumbai: Indian automaker Tata Motors reported a 137 per cent increase in its net profit with ₹7,025 crore in Q3 compared with ₹2,957 crore reported during the same quarter last year. The company registered an 86.6 per cent increase in profit compared with ₹3,764 crore in the September quarter. The revenue from operations registered a 25 per cent growth with ₹1,10,577 crore for the December quarter compared with ₹88,488 crore reported during the same quarter last year. A 5.18 per cent growth was reported during the quarter compared with ₹1,05,128 crore reported in September. The company’s consolidated automotive debt was reduced to ₹29,200 crore.

Interim Budget: EV push may create 250,000 jobs in five years
Jobs in the country’s electric vehicle sector may receive a boost in the coming years fueled by the Interim Budget promise to support EV manufacturing and charging infrastructure, said staffing companies and company officials.

India registered massive growth in PV sales in last 10 years: PM Modi
He was addressing the Bharat Mobility Global Expo at the Bharat Mandapam, in New Delhi on Friday. According to him, 10 years ago, around 2,000 electric vehicles were being sold.    

Europe’s FlixBus to start operations in India on February 6
European tech-driven bus company FlixBus, which announced its plans to enter the Indian market last year is slated to start its operations this month.

2024 kicks off on a positive note for EVs as January sees strong sales of E2Ws & E-cars
Chennai: The calendar year 2024 has started well for the electric vehicle industry as the total registrations of battery-powered vehicles reached close to 1.44 million units, with electric two-wheelers recording the second-highest monthly number in the post-FAME subsidy reduction (for electric two-wheelers) period.

Utility vehicles continue to drive passenger automobile sale
Source Credit: Vijay C Roy, The Tribune

Govt rules out easing curbs on sugar for ethanol production above 17 lakh tonnes

Speaking to the media on the sidelines of the announcement to launch “Bharat Rice” next week, Union Food Secretary Sanjeev Chopra said the sugar situation is comfortable and there is hardly any price rise if the sugarcane price (FRP) hike is factored in. He said there is no plan to increase the allocation for ethanol.

Improving profitability, better product mix may reverse weak trend in Maruti’s stock
 Maruti Suzuki reported improved profitability for the December quarter aided by an improving mix of high-priced sports utility vehicles (SUVs) amidst moderating volume and rising discounts. The combination of seasonality and declining inventory suggests margins to improve in the March quarter. The stock has been underperforming due to moderating volume and elevated industry inventory. This may reverse with a stable margin profile, falling inventory, and comforting valuation.

Auto-tech start-ups: What is 42dot, the start-up that is making Hyundai cars autonomous
The automotive industry is transforming fast, and the latest innovation to hit it is a term called “SDVs”. Short for software-defined vehicles, SDVs can manage their own operations, functionalities and enable new features entirely through software.In the past, cars were differentiated on mechanical features such as horsepower and torque. But now cars are defined by software, such as driver assistance systems (ADAS), infotainment innovations and connectivity solutions (connected cars). In fact, it was the CES 2024 (the tech show in Las Vegas) that introduced the world to the era of SDVs, signifying the beginning of a massive technology transition in the automotive field.

Budget 2024: FAME allocation cut won't spoil EV growth story, says Raptee Energy's Jayapradeep Vasudevan
Budget 2024: The highly anticipated announcement of Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme's third phase wasn't forthcoming in the Interim Budget 2024 presented by Finance Minister Nirmala Sitharaman on February 1. And to the EV industry's dismay, the existing FAME scheme also saw a massive 55.58% cut in allocation. Budgetary support plunged from ₹4,807.40 crore to ₹2,671.33 crore for the upcoming financial year, falling significantly short of expectations for a hike to ₹10,000-12,000 crore. 

Citroen to offer 6 airbags as standard in India across entire range
With growing consensus towards vehicular safety in India and significant push by the Central Government, auto OEMs are enhancing safety equipment of their models in the recent past. A few months back Hyundai and Kia standardised 6 airbags across their respective product lineup. Now Citroen has joined the list too.

Mahindra Scorpio N achieves 1 lakh production milestone
The Scorpio is one of Mahindra’s oldest vehicles in production, known for its durability and capabilities on and off the road. In 2022, Mahindra launched the Scorpio N, which saw a radical change but stayed similar to the older model in terms of what it offers.

MG Motor looking at rationalising trims, prices to boost volumes, says CEO Chaba
MG Motor is looking at rationalising trims and prices across its range of vehicles on sale in India to help shore up volumes in the domestic market by 25-30% this year.

MG Motor India celebrates 100 years with Wow offerings
MG Motor India is celebrating its centenary year by focusing on delighting car buyers and introducing Wow prices for its 2024 range of models. The company has introduced a new trim of the MG ZS EV along with Wow prices for the MG Comet EV, MG Hector, and MG Gloster, the company said.

Spartan EV 2, the Gurkha’s EV sibling breaks cover — All you need to know
The electric vehicle market is an interesting segment with new vehicles and out-of-the-box ideas. However, when it comes to building an EV that can go off-road, why build from scratch when there are plenty to choose from to use? That’s what Czech start-up MW Motors has done with the Gurkha, converting it to an all-electric vehicle and retaining its capabilities.

PLI will be among biggest sources of funds for EV biz next yr: Tata Motors
PLI scheme provides financial incentives to boost domestic manufacturing of advanced automotive technology products including electric vehicles and their components.
 

More people choosing lower EV variants, 'range anxiety' improves: TaMo
In 2023, the sale of electric cars in India reached approximately 82,000 units, marking an impressive 114 per cent annual growth, according to state-provided VAHAN data. Tata Motors dominates the Indian EV market with about 80 per cent share.

Volkswagen Group working on entry-level EV for India
Volkswagen Group's India unit looking to introduce entry-level electric SUV

A tale of two stars : New Mercedes Benz GLA & Mercedes AMG GLE 53 4Matic+ Coupd

Let’s go!

Lotus Eletre: The real deal?
Founded by an innovator par excellence called Colin Chapman, Lotus has been known for its driver-focussed cars. With success following the company on the racetrack, the road-going cars continued to evolve to the point that Lotus became the enthusiast’s favourite fairly quickly. What didn’t change throughout the brand’s history was that the exceptionally gifted cars to come out of Lotus were lightweight. Thus, an SUV isn’t an obvious addition to its line-up, because that essentially changes everything Lotus has been doing for the last few decades. Of course, the brand has offered its engineering and handling prowess to many a carmaker — including for some SUVs — but that’s still consultation.

Ashok Leyland shares drop 0.82% as Sensex rises
Shares of Ashok Leyland Ltd. traded 0.82 % lower in Friday's session at 01:50PM (IST). The stock opened at INR 173.4 and has touched an intraday high and low of INR 175.15 and INR 168.3, respectively, during the session so far.

Tata Motors to rebrand its small CVs to claw back market share
New Delhi: Tata Motors, India’s largest commercial vehicle maker whose mini truck Tata Ace has long been synonymous with the segment, is now looking at ways to rebrand its SCV (small commercial vehicle) business to capture share it has lost to rival Mahindra & Mahindra and Ashok Leyland, even as the segment itself has shrunk in the first three quarters of the fiscal, due to the high base of the last financial year, when the segment had grown 27% year-on-year.

VST Tillers Tractors Q3 net down 13 per cent at ₹16.95 crore on dip in sales
Bengaluru: Farm equipment maker VST Tillers Tractors Ltd (VST) reported a 13 per cent decline in net profit for the December quarter at ₹16.95 crore against ₹19.43 crore in the corresponding quarter last year. Revenue from operations were down by a fifth at ₹169.96 crore (₹213.69 crore).  

TVS sells 2.64 lakh two-wheelers in January, records 25% growth
TVS Motor Company recorded a cumulative monthly sales of 339,513 units in January 2024 with a YoY growth of 23%. The Hosur-based automaker sold a total of 275,115 units in the month of January 2023. This number includes units from various segments including two-wheelers, electric vehicles (EV) and three-wheelers for both domestic and exports.

Suzuki records double-digit growth in January 2024, sales up 13%
Suzuki Motorcycle India recorded total sales of 95,762 units in January 2024. With this, the company marked a double-digit year-on-year growth of 13%. The total sales for the first month of 2024 include domestic sales of 80,511 units and exports of 15,251 units.

Hero MotoCorp shares hit all-time high on robust January sales
Shares of the world’s largest two-wheeler manufacturer Hero MotoCorp rose 9.2% to hit an all-time high of Rs 555 after the company reported a 22% year-over-year growth in its two-wheeler sales. The company sold 433,598 units against the 356,690 units sold in the same period a year ago, according to a press release. 

Hero MotoCorp registers 22% growth, sells 4.21 lakh two-wheelers
Hero MotoCorp sold a total of 433,598 lakh two-wheelers, including domestic sales and exports of both motorcycles and scooters, in January 2024. This led to a 22% YoY growth. The company sold 356,690 units during the same period last year. Out of the total volume sold, 402,056 units were motorcycles whereas the remaining were 31,542 scooters.

Aprilia RS 457: Little Italy
Ever since Aprilia announced the RS 457, it’s been on every enthusiast biker’s mind. Firstly, as an approachable sub-500cc bike from Aprilia, the RS 457 sounded like a pretty good idea. Secondly, as soon as the price was announced, it became evident that the locally produced motorcycle had a lot in store for the Indian motorcyclist, including great value. But what’s the point of getting acquainted with a new Aprilia if you can’t find its limits? Thankfully, a first ride experience was organised at the Kari Motor Speedway, and we knew the hard day’s work would be well worth it.

Ola launches new S1X with 4kWh battery pack and reveals charging infrastructure plan
Ola Electric has launched S1X with a 4kWh battery pack, claiming a range of 190km. The new S1X 4kWh is priced at Rs 1,09,999 with deliveries starting April 2024 onwards. The company has also announced an extended battery warranty of 8 years or up to 80,000km across all its products, addressing customer concerns.

Ola scooters to have double lifespan compared to petrol scooters, says Bhavish Aggarwal; announces 8-year warranty
In a major development for electric vehicle enthusiasts, Ola's Bhavish Aggarwal announced today that Ola scooters will now carry an impressive eight-year or 80,000 km warranty. Addressing concerns about electric vehicle longevity, Aggarwal emphasized that Ola scooters will outlast traditional internal combustion engine (ICE) vehicles, providing double the lifespan. Ola scooters will last twice the life of ICE vehicles, Bhavish said.

Uno Minda embarks on an INR 700 cr non-tech plan as part of its future-proofing strategy
The NK Minda-led Group has decided to build a land bank of sizeable plots in multiple auto hubs in the country. Under this strategy, it has earmarked INR 700 crore to be invested by the end of this calendar year. “We were buying 10-acre land, 15-acre land, then we were feeling the shortage soon thereafter. So we thought of why not buy a 100–acre piece of land. Then we can set up plants of different sizes depending upon demand, and have our own industrial park,” N K Minda, CMD, Uno Minda, told ETAuto.

Sundram Fasteners posts Rs 116 crore net profit for Q3 FY2024
Sundram Fasteners, a leading automotive fasteners manufacturer in India has announced its financial results for Q3 FY2024. The company reported revenue of Rs 1,180 crore, as against Rs 1,226 during the same period in the previous year.

Sterling Tools appoints Rashmi Urdhwareshe and Anish Agarwal as Directors
Sterling Tools, the second largest automotive fastener manufacturer in the country and its wholly-owned subsidiary Sterling Gtake E-Mobility, the largest MCU manufacturer and supplier to the EV industry in India, have announced the appointment of Rashmi Urdhwareshe as an Independent Director and Anish Agarwal as a Non-Executive & Non-Independent Director.

Minda Corp reports Rs 52 crore net profit for Q3 FY2024
Minda Corporation, the flagship company of Spark Minda has announced its financial results for Q3 FY2024 with revenue of Rs 1,166 crore, up 9.1% YoY on the back of robust festive season and improved sentiments in rural and urban markets. The net profit at Rs 52 crore, saw flat growth YoY.

Epsilon completes acquisition of LFP cathode technology centre in Germany
The acquisition makes Epsilon the first global company capable of providing manufacturers with cathode and anode materials for lithium-ion batteries, which is poised to make India the first country in Asia outside of China to manufacture LFP (Lithium-ion Phosphate) cathode materials, Epsilon said.

Tyre industry revenue might double by 2030 : MD, Continental Tires India
New Delhi: Continental Tire, the tyre manufacturing arm of the Continental Group, has estimated the tyre industry in India might double by 2030.

Battrixx investing in sodium-ion chemistry despite commercial challenges
New Delhi: Battery pack manufacturer, Battrixx introduced high-voltage battery packs for the tractor and commercial vehicles at the Bharat Mobility Global Expo, 2024. The unveiled products are for a 27 hp tractor, a 40 hp tractor, and two variants with power ratings of 15 kW and 32 kW light commercial vehicle targeting 0.5-tonne and 2-tonne vehicles.

India Energy Storage Alliance makes case for comprehensive safety guidelines for EV batteries
Industry body India Energy Storage Alliance (IESA) on Friday stressed on the need for comprehensive safety guidelines for electric vehicle batteries manufacturing and usage. Addressing at the 2nd Global EV Battery Safety Forum at Bharat Mobility Global expo 2024, Rahul Walawalkar, President of IESA & MD, CES India, emphasised on the crucial role of safety guidelines for EV batteries.

Experts bat for solar-based charging stations to accelerate EV ecosystem
With electric vehicles (EV) finding a significant mention in the Union Budget, there was something to cheer in Nagpur, the home turf of the principal proponent of green energy and alternative fuel — Nitin Gadkari.

Ultraviolette, HPCL to join hands for EV charging network
New Delhi: With an aim to provide a fillip to electric vehicle (EV) transition for two wheelers, Hindustan Petroleum Corporation Limited (HPCL) will tie-up with electric bike maker Ultraviolette Automotive to set up charging networks on highways.

Engine oil maker Castrol India's Q4 profit rises on healthy demand
Engine oil maker Castrol India reported a 25% rise in fourth-quarter profit on Thursday, aided by higher demand for its automobile lubrication products.

Castrol India clocks best-ever annual performance in 2023, posts Rs 864 crore net profit
Castrol India has announced its financial results for Q4 and full year CY2023.

Yamaha Nmax 155, Grand Filano unveiled at Bharat Mobility Expo 2024
Source Credit: Autocar India

Yamaha showcased its entire Indian two-wheeler line-up along with a few international models at the Bharat Mobility Expo. 

Audi India forecasts 35-40 percent growth for used car brand in FY2024
Source Credit: Autocar India

With its pre-owned car business, Audi India is looking to capitalise on the widening gap between luxury and non-luxury cars, created by the increase in the price of entry-level luxury vehicles. The German automaker aims to boost the number of its Approved :plus showrooms for pre-owned Audis across the country — there are 25 at present — and estimates that the business will grow around 35 to 40 percent year-on-year in FY2024.

Volkswagen confirms mass market EV for India
Source Credit: Autocar India

The Volkswagen Group is actively looking at an entry-level electric vehicle for India, which will call for fresh investments in the country. The company is looking to introduce a mass-market EV, developed specifically to cater the needs of the Indian market, as well as offer a strong export potential. With that in mind, Skoda Auto Volkswagen India is targeting to introduce an entry-level EV in the market towards the second half of the ongoing decade.

Skoda targets aggressive pricing for upcoming compact SUV
Source Credit: Autocar India

Skoda seems to have its work cut out for its upcoming compact SUV that will go on sale sometime next year. This compact SUV will be an all-new product for Skoda, and will be made in India for domestic and export markets.

Ola S1 X with 4kWh battery launched at Rs 1.10 lakh
Source Credit: Autocar India

Ola has launched a new variant of its most affordable model – the S1 X – which gets a large 4kWh battery pack. The claimed IDC range number is 190km, which is just 5km less than the 195km claimed range of the S1 Pro Gen 2.

Ather Rizta scooter will have biggest seat in the segment: CEO
Source Credit: Autocar India

It's common knowledge at this point that Ather is working on a more practical electric scooter called the Rizta. Now, the company’s co-founder and CEO, Tarun Mehta has put an image of the Rizta’s seat next to the seat of an Ola S1 electric scooter and its clearly evident that the Rizta is going to be a much more spacious offering. 

Honda CB300F flex fuel showcased at Bharat Mobility Expo 2024
Source Credit: Autocar India

Honda’s stall at the Bharat Mobility Global Expo 2024 had a range of environmentally-friendly products such as a flex-fuel CB300F, as well as its swappable battery pack technology, called the Honda Power Pack Exchanger e:

2024 Tata Nexon EV real world range tested, explained
Source Credit: Autocar India

Having given it a comprehensive update, what Tata has essentially done is taken the Nexon EV’s proven, winning formula and improved it. And the changes are so substantial, you’ll be hard pressed to believe that it is merely a mid-cycle facelift and not a whole new generation altogether. We put the long range (LR) version through our instrumented real-world range test to quantify its improvements.

Porsche 911 GT3 RS review: Street legal track weapon
Source Credit: Autocar India

Gleefully, I showed the gentleman the photo of our production car lap record time at the Buddh International Circuit. “And the previous record was in a GT2 RS?” he asked, eyebrows only lightly raised; I nodded to confirm. “Very good,” he said. “That means we have done our job.” The gentleman was Andreas Preuninger, whom I was lucky enough to meet at Porsche’s 75th birthday party – Icons of Porsche – in Dubai earlier in the month. He’s the head of Porsche’s GT division, the saviour of natural aspiration, and essentially the father of the car I’m driving today. And his words give even more credence to the absolute weapon that is the 992 Porsche 911 GT3 RS. We are, of course, driving it in its element, around a race track – the freshly paved CoASTT performance centre in Coimbatore – but also taking it out on the road to see if calling it a road car is merely lip service.

Citroen C3 Aircross, C3 and eC3 to get six airbags as standard
Source Credit: Autocar India

Citroen has announced that it will offer six airbags as standard on all its model from the second half of 2024. Currently, apart from the C5 Aircross which is the brand’s flagship model, all other models only come equipped with just two airbags even in their top-spec guise.

MG Hector, Gloster and Comet EV prices slashed by up to Rs 1.31 lakh
Source Credit: Autocar India

Celebrating its centenary year, MG Motor India has slashed prices of the Hector and Gloster SUVs as well as the Comet EV. The carmaker has also introduced a new entry-level Executive trim of ZS EV, making it more accessible to buyers.

Pakistan's caretaker government hikes petrol price by PKR 13.55 per litre
The caretaker government on Wednesday hiked the price of petrol by Pakistan rupees (PKR) 13.55 per litre for the next fortnight, Dawn News reported on Thursday.

Rolls-Royce goes electric—in style
Rolls-Royce is, in some respects, like any other carmaker. A recently revamped showroom in Sunningdale, close to London and closer still to a renowned golf club where its vehicles would look right at home, does not seem out of the ordinary. Some might think that a bright-yellow Cullinan on display is a tad brash (a spokesperson insists it is “expressive"). But it is an SUV and that makes it the company’s bestselling model, as SUVs tend to be. And, like other car companies, Rolls is embracing battery power, promising to go all-electric by 2030. Deliveries of the Spectre, its first electric vehicle (EV), began last autumn and are expected to make up 20% of sales this year. As part of BMW, it can tap its German parent for EV tech such as battery cells and motors.

BMW Group partners with Dassault Systemes for shared innovations in future engineering
In an industry where quick time to market of sustainable mobility solutions with advanced technology is a competitive differentiator, the partnership between Dassault Systemes and BMW Group is testimony to the fundamental role of the 3DEXPERIENCE platform in enabling companies to deliver products faster. The platform’s virtual twin experiences streamline enterprise-wide collaboration and deliver data-driven approaches to manage the exponential complexity carmakers are facing in connected, autonomous vehicle engineering.

What’s Next for Elon Musk and Tesla After CEO’s Pay Package Was Struck Down
For Elon Musk and the other seven members of Tesla’s board, the looming question now is: What next?

Elon Musk’s Tesla to recall 2.2 mn EVs in its largest-ever recall in US over incorrect font size on warning lights
Elon Musk’s Tesla will be recalling over two million electric vehicles on US roads. According to a Reuters report, 2.2 million electric vehicles will be impacted by this decision. The decision has been taken due to an incorrect font size on warning lights. The National Highway Traffic Safety Administration said that this incorrect font size leads to a significant increase in the risk of a crash.

Warning Lights too Small: Tesla to Recall 2.2 M Vehicles
Detroit: Tesla is recalling nearly all of the vehicles it has sold in the US because some warning lights on the instrument panel are too small.
 

Toyota supplier Denso cuts forecast after Q3 profit hit by extra costs
Japan's Denso, a leading supplier to Toyota, slashed its annual earnings forecasts on Friday after third-quarter profits were hit by additional quality-related cost reserves, missing analysts' estimates.