Top Indian Automobile Industry News & Updates - 05 Feb 2024,Monday

🏢 Industry

Uber Green services launched in Delhi
Uber’s global flagship electric vehicle service, Uber Green, is now available in Delhi, allowing residents to book sustainable rides. Now, riders will see the Uber Green option when they open the Uber app to book their rides. 
PLI schemes a kickstart, become more outward looking: Piyush Goyal to industry
The Production-Linked Incentive (PLI) schemes are like a kickstart for industry, commerce and industry minister Piyush Goyal said Saturday, even as he asked the beneficiaries of the schemes to become outward looking and leave the “cosy comfort” of India’s large domestic market.
Interim Budget 2024: EV industry stakeholders share a sense of optimism
The electric vehicle industry in India is seeing a new wave of stakeholders trying to do their bit to accelerate adoption of the green vehicles. The Finance Minister Nirmala Sitharaman while did not explicitly mention any new policies for the EV segment in India, but stated the focus on EV charging ecosystem which will create new earning opportunities. Industry stakeholders share their perspective on the same.
Interim Budget 2024: Electric CV industry applauds focus on sustainable mobility
The electric commercial vehicle manufacturers and bus operators see Finance Minister Nirmala Sitharaman’s Interim Budget 2024 to continue India’s vision towards green mobility in the right direction.
Auto Industry captains share their view on Interim Budget 2024
The automotive industry by far is amongst one of the largest job creators and contributors to the economy. The Indian auto industry currently pegged as the fourth largest globally, is expected to surpass Japan to become the third largest in the coming years. It comes as no surprise that the industry was closely following the Interim Budget 2024, and here is what they think.
Tata Motors may retain momentum on JLR show, push to pare leverage
Tata Motors' all-round performance in the December 2023 quarter may help the company's stock maintain its outperformance. The stock has nearly doubled in the past one year, propelled by an increase in fair value amid improving financial performance of its UK subsidiary Jaguar Land Rover (JLR) and the company's efforts to reduce its leverage.
Govt to organise 3-day ‘Startup Mahakumbh’ in March
New Delhi: The government will organise ‘Startup Mahakumbh’, a 3-day exhibition of startups across domains, from March 18-20 at the Bharat Mandapam in Delhi, Commerce and Industry Minister Piyush Goyal said on Saturday.
Fatal accidents nosedive by 15% this Jan
New Delhi: Roads were much safer in Jan this year than the previous year. A spatial analysis of accidents conducted by Delhi Traffic Police has revealed that there was a dip of 15% in fatal crashes this Jan than in the corresponding period in 2023. Similarly, there was a massive dip of 36.4% in accidents this year wherein there was no injury to life.
Tata Motors shifts into high gear with Jaguar Land Rover at the wheel
Led by its UK-based subsidiary, JLR, Tata Motors’ Q3 results were a comprehensive beat across parameters and marked the fifth consecutive quarter of improved performance.  
 
India key to Skoda’s exports strategy, says country CEO
India will play an important role in Czech carmaker Skoda Auto’s ambition to expand into South-east Asian markets, as the European automotive group Skoda Auto Volkswagen India (SAVW), which operates five major automobile brands in the country—Skoda, Volkswagen, Audi, Lamborghini, and Porsche—looks to tap into India as a major source of and enabler for exports into other South-east Asian economies, a top company official said.
Auto industry stakeholders react to Interim Budget 2024
Following the announcement of Finance Minister Nirmala Sitharaman about not leading into a populist Interim Budget 2024, industry stakeholders see this as a positive sigh and hope the full Budget 2024 anticipated in July will bring in a sustainable roadmap.
Force Motors plans to invest around Rs 2,000 crore in 3-4 years: MD Prasan Firodia
Automaker Force Motors plans to invest around Rs 2,000 crore in the next three to four years on various activities including sustainability drive and electric vehicle development, according to the company’s Managing Director Prasan Firodia.
Nearly Rs 41,000 crore unspent from govt's Rs 1.97 trillion PLI fund

This means that 80 per cent of the total allocated amount, or Rs 1.56 trillion, will be used to pay incentives to companies eligible to claim benefits over the next few years.
📝  Tata Motors starts work on gigafactory in UK
📝  Hyundai plans to drive to Dalal Street for largest IPO ever: Plans listing of local arm this Diwali
📝  EV push in Budget to give fillip to warehousing & logistics sectors
📝  EVs, renewables, semiconductors: Triple engine to power transition
📝  This company of Tata records revenue Rs 414997 crore, became first…
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🎤 Interviews & Features

The impact of India’s digital personal data protection act on the automotive industry
While the safety and security of passengers and vehicles alike have conventionally been key considerations for the automotive industry, the automotive industry stands at a pivotal juncture where connectivity and data analytics advancements are revolutionising how vehicles interact with their surroundings (V2X) and each other (V2V). This era of connected vehicles has ushered in a plethora of benefits, including enhanced traffic management, improved safety features, and the development of autonomous driving technologies. However, this surge in data collection has also raised significant concerns regarding privacy and data protection. 
Opinion: How carbon credits can drive sustainability, accelerate EV adoption
The world is tackling the distressing climate change landscape, from glaciers melting in Antarctica, volcanic eruptions in Iceland to frequent cloud bursts in India. Navigating climate change and its devastating consequences require the collective participation of nations and leaders.
Impact of the Interim Budget 2024 on the EV Sector
The interim 2024 budget resounded as a favourable response to the EV sector. As stated by the Finance Minister, the government will expand and strengthen the EV ecosystem by supporting EV manufacturing and charging infrastructure. By promoting EV adoption across the nation, the government aims to reach its target of carbon neutrality by 2070 and support a cleaner and greener environment. Transport is the most significant contributor to carbon emissions, and adopting eco-friendly vehicles like EVs is critical to reducing pollution and creating a healthy and clean environment. The interim budget showcases the government’s commitment to a better future for the EV ecosystem.
Car Review: New Hyundai Creta
After Royal Enfield, the Creta is possibly the biggest automotive gift to the world from Chennai — the Detroit of India. But Royal Enfield wasn't invented in Chennai — the Creta was planned, designed, invented, andnow reinvented here. We just drove the newest iteration of this Chennai Express. 
 
The imperative for independent growth in India’s EV sector beyond FAME 2 subsidies

Amongst cutting-edge sustainable alternatives, one option that has gained tremendous popularity is electric vehicles. The size of the India electric vehicle market is projected to hit $34.80 billion in 2024 and is anticipated to grow at a compound annual growth rate (CAGR) of 26.05% to reach $107.74 billion by 2029, according to a report by Mordor Intelligence. Propelling the growth of EVs in India, the government has taken the lead and introduced various policies and initiatives. One such initiative is the FAME 2 scheme. It was launched with the intention of enabling customers to purchase electric vehicles at a lower cost, promoting the switch from gasoline-powered to electric automobiles. Apart from government policies, several other variables are driving the adoption of electric vehicles and defining the future of mobility.
Can’t talk now, my phone’s driving towards the future
 
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🚗 Cars / SUVs

Volkswagen eyeing entry-level EV segment with SUV
The entry-level passenger electric vehicle segment in India is gaining momentum as two key players dominate this space — Tata and MG. Tata’s all-electric Tiago was the most affordable offering in this space, however, the MG Comet managed to undercut the Tiago. Moving to a segment higher, the Tata Nexon leads the segment and now, Volkswagen is looking at this space as well.
Better margins and product mix may boost Maruti stock
 Maruti Suzuki reported higher 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 could 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.
📝  New Skoda Octavia facelift teased revealing sharp styling, gets updated engines
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Electric-Cars / SUVs

Rooftop solar charges up electric vehicle boom in India's smaller cities
If original equipment manufacturers (OEMs) in the automobile industry, government, and the solar sector are to be believed, in cities of Rajasthan, Gujarat, and Kerala, 45-50 per cent of electric-vehicle (EV) users are employing rooftop power to charge their vehicles.
 
📝  Most-awaited electric SUVs in India in 2024
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🚗 Luxury Cars

Lexus showcases self-charging hybrid tech at Bharat Expo
Lexus India displayed its most popular model in the Indian line-up, the self-charging hybrid electric model, Lexus ES 300h, which boasts of a ‘Made in India’ tag and the all-electric luxury crossover, the Lexus UX 300e. The Lexus ES 300h, which is assembled in India, is the only market after Lexus Japan to assemble Lexus vehicles in Asia.
We're cheering from sidelines for India to rise more: Thomas Girst, Global head of cultural engagement, BMW Group
As a thriving democracy, India should do more for contemporary art, as it's critical and political, said Thomas Girst, global head of cultural engagement at BMW Group. He is in the country for 'India Art Fair 2024', in which the auto giant is the principal partner. In a conversation with ET's Krishnaraj Singh Jasana, he explains why an artist should have a backup plan and why artificial intelligence (AI) will not disrupt art.

Edited excerpts:
📝  BMW targets affluent customers in India’s emerging EV market
📝  Volvo plans a last redesign touch for its combustion cars before going electric
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⛟ Commercial Vehicles

Eicher forays into small commercial vehicles segment
On the third day of the Bharat Mobility Global Expo, Eicher Trucks & Buses — a division of VECV — announced entry into the small commercial vehicle (SCV) segment with the global unveil of its electric-first truck.
Tata Motors chalks up new strategy to claw back small CV 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.
Eicher enters SCV segment with e-truck in 2- to 3.5-tonne segment, plans CNG and diesel variants too
Eicher Trucks and Buses, a division of VE Commercial Vehicles has announced its entry into the Small Commercial Vehicle (SCV) segment with the global unveil of its EV-first Eicher Truck at Bharat Mobility Global Expo 2024.
📝  Ashok Leyland hands over keys of 14T Boss Electric truck to Billion E-Mobility
📝  Mumbai civic body budget: INR 928 crore provision for BEST
📝  Eicher Trucks and Buses enters small commercial vehicle segment
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🏍 2/3 Wheelers

Chart beat: Two-wheelers lead the way, but will the momentum continue?
Two-wheeler manufacturers continue to impress on volume growth. “Based on volumes reported by original equipment manufacturers, we estimate that two-wheeler wholesales (excluding Honda) rose about 20% year-on-year in January," said Jefferies India, adding that this was the fourth consecutive month of 15%-plus growth.
📝  2024 Royal Enfield Bullet 350 launched in Canada, restricted to only 100 units
📝  Classic 350 & Bullet 350 help Royal Enfield report 10% growth
📝  2024 KTM RC 390 & RC 200 unveiled globally. Check out what's new
📝  Hero MotoCorp eyes premium segments: Future plans revealed
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🚲 Electric 2/3 Wheelers

Ather Rizta to get bigger seat, teased ahead of debut
Ather Energy is working on a new generation family scooter which will be starkly contrasting to the present performance driven Ather 450 range. There was plenty of conjecture around its name, until recently a couple of weeks back when company Co-founder and CEO, Tarun Mehta, announced the official name of the upcoming electric scooter.
📝  Ather CEO says Rizta to get biggest seat in segment, compares with Ola S1 Pro, Honda Activa
📝  Ola S1 X variant with 190 km range launched at Rs 1.10 lakh: Gets bigger 4 kWh battery pack
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⚙ Components

Sundram Fasteners Ltd records Q3 standalone net at ₹116.19 crore
Chennai: Auto-component maker Sundram Fasteners Ltd has reported a standalone net profit of ₹116.19 crore, for the October-December 2023 quarter, the company said. The company had registered a standalone net profit of ₹106.13 crore, during the corresponding quarter of last year. Net profits on a standalone basis for the nine-month period ending December 31, 2023 stood at ₹346.65 crore as against ₹347.99 crore registered a year ago.  
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🌇 Allied Industries

TVS Motor reiterates commitment to invest INR 5,000 cr on future technologies
TVS Motor Company, which operates in the two- and three-wheeler segments, exports close to 30% of its annual volume, and has a presence in 80 countries.
Continental Tires presents new tyre tech, mobility solutions at Bharat Mobility Expo 2024
Through a mix of products, imported and the ones manufactured in India, the company showcased the brand's continuous commitment to providing customers with a valuable experience and comprehensive mobility solutions, the company said in a media relese..
Phones take the wheel on autonomous test drive
New Delhi: Bengaluru-based robotics engineer Mankaran Singh posted this on X late last year: “My second hand redmi note 9 pro running flowpilot is driving my alto k10. Can it get more desi than this?” The video shows the small hatch speeding on a highway in pouring rain.
Raw material price, slowdown in tractor sales impacts Goodyear India’s profits in Q3 FY2024
Goodyear India, a leading tyre manufacturer has announced its financial results for Q3 FY2024. The company reported revenue of Rs 597 crore, down 14 percent YoY, while profit before tax came to Rs 30 crore as against Rs 33 crore for the same period last year.
Indian startups compete in race for affordable autonomous driving
Bengaluru-based robotics engineer Mankaran Singh posted this on X late last year: “My second hand redmi note 9 pro running flowpilot is driving my alto k10. Can it get more desi than this?” The video shows the small hatch speeding on a highway in pouring rain. There’s no driver.
Adani Group's USD 1.2-bn copper plant to boost India's metal production

New Delhi: Billionaire Gautam Adani-led group is building the world's largest single-location copper manufacturing plant at Mundra in Gujarat, which will help cut India's dependence on imports and aid energy transition, sources said. The USD 1.2-billion facility will start operations of the first phase by March-end and full-scale 1 million tonnes capacity by FY29 (March 2029), two sources with knowledge of the matter said.
📝  Apollo Tyres rolls out ‘Trumigo’, a digital initiative for doorstep car servicing
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🌢 Fuels, Lubricants & Charging Stations

Price cuts for auto fuels unlikely before April
Retail prices of petrol and diesel are likely to be cut by state-run oil marketing companies (OMCs) to some extent, just ahead of the general election scheduled in April if crude prices remain below $80 a barrel through this period, sources said.
Govt raises windfall tax on petroleum crude to Rs 3,200/tonne
Source Credit: mint
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📖 Magazines News

Mercedes-AMG GLE 53 Coupe review: The everyday AMG
Source Credit: Autocar India

The Mercedes GLE Coupe with its distinctive silhouette is a flavourful alternative to the mainstream GLE SUV and was available in the fire-breathing AMG 63 guise as well as the relatively tamer AMG 53 guise. For 2024, Mercedes has updated the latter and here’s all that you need to know.
Electric scooter, bike sales January 2024: Ola sells over 30,000 units
Source Credit: Autocar India

Maintaining the strong growth trajectory witnessed in CY2023, electric two-wheeler manufacturers have sold a total of 81,343 units in January 2024, recording strong 26 percent year-on-year growth (January 2023: 64,694 units). 
Audi Q8 e-tron long term review, 1,500km report
Source Credit: Autocar India

Electric cars are no strangers to the Autocar India long-term garage, but with the MG Comet, Mercedes-Benz EQB and the Audi Q8 e-tron, we’re kind of electric-heavy right now. Which meant that despite me generally avoiding them, for a few days last month, I ended up with the keys to the Audi.
Harley Davidson Pan America CVO revealed
Source Credit: Autocar India

For 2024, Harley-Davidson has given its flagship adventure bike, the Pan America 1250 Special, the Custom Vehicle Operations treatment for the first time ever. An exclusive paint scheme, bidirectional quickshifter, luggage and protective accessories are the biggest changes over the standard model.
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📰 International News

Volkswagen previews new Volkswagen Golf R
Volkswagen has showcased a glimpse of the upcoming Golf at the anniversary of the Golf brand. The all-wheel drive fully camouflaged Golf R was unveiled at an ice race in Austria. This traditional motorsport event provided the perfect stage to honour Golf’s rich legacy while giving spectators a glimpse of its exciting future. 
BMW and Dassault Systemes come together for future engineering platforms
The BMW Group and Dassault Systemes have commenced a long-term strategic partnership aimed at developing BMW Group’s forthcoming engineering platform, with the core integration of Dassault Systemes’ 3DEXPERIENCE platform.
Skoda Auto starts production of upgraded Scala and Kamiq
Skoda Auto has started producing the updated Scala and Kamiq versions at its main plant in Mlada Boleslav. The latest versions of these cars feature new equipment and assistant systems, typically found in higher vehicle classes. There has also been a significant increase in the utilization of sustainable materials in both vehicles.
Hyundai, Kia's EV sales surpass 1.5 mn units
Seoul, South Korea's Hyundai Motor and its smaller affiliate Kia on Sunday said their combined electric vehicle sales exceeded 1.5 million units as of December, 12 years after Hyundai debuted its first EV model.
Tesla recalls more than 2 mn vehicles in US over warning lights issue
Elon Musk-run Tesla is recalling more than two million vehicles -- almost all of the cars it sold in the US -- due to incorrect font size on warning lights.
Driverless cars covered 5x more test miles in California in 2023
Completely driverless vehicles traveled nearly 3.3 million miles in California last year, over five times the previous year's total, even as concerns rose in the wake of a Cruise robotaxi accident, state data on vehicle testing released on Friday showed.
2025 BMW 4-Series: New Updates, Better Performance
BMW has unveiled the 2025 4-Series with some notable changes. The coupe and convertible variants have received many makeovers, including a redesigned grille, revamped headlights and taillights, and a significant power upgrade.
Lamborghini and Ducati collaborate in the name of art
Automobili Lamborghini and Ducati unveiled an artistic collaboration at the “Art of Creating Myths” exhibition in Bologna’s Galleria Cavour. Artist Paolo Troilo transformed a Lamborghini Huracan Evo and a Ducati Streetfighter V4 Lamborghini into works of art using his finger-painting technique.
Apple ramps up its 'secret' self-driving car testing: Report
Apple has ramped up its self-driving car testing and has logged over 450,000 miles of autonomous driving in the US from December 2022 to November 2023.
Chinese carmaker adds satellites in Musk territory
A Chinese rocket launched a group of communications satellites produced by one of the country’s largest carmakers, Geely, boosting the nation’s efforts to catch up in low-Earth orbit — an area dominated by Elon Musk’s SpaceX.
Tesla to pay $1.5 million over alleged hazardous waste violations
 
📝  Toyota to outshine rivals as more consumers opt for hybrids amid EV slowdown
📝  Toyota unveils ambitious plans to electrify and expand Land Cruiser lineup
📝  Ferrari to launch three cars in 2024, new hypercar may get a plug-in hybrid tech
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