Yogi govt to equip 'EV Upyog' portal with multiple features
The Yogi Adityanath government is focusing on the enhancement of the 'EV Upyog' portal.

Valuation surge
The market capitalisation of Tata Motors briefly overtook that of Maruti Suzuki India Ltd (MSIL) last week, making the Tata company the most valuable listed automobile company in India. The share price of MSIL has since gained enough to recover top position. The movements in these two shares illustrate an interesting quirk in valuation. While share prices are indeed tied to prospects of profits, investors are usually prepared to bet more on a possible turnaround in a loss-making company than in a business that’s already doing well. In the past 12 months, MSIL’s share has gained 19.6 per cent while Tata Motors (share with voting rights) and Tata Motors DVR (differential voting rights) have gained 99 per cent and 160 per cent, respectively. Tata Motors is now valued at roughly Rs 3.10 trillion while MSIL has a market capitalisation of Rs 3.34 trillion.
 

Tata Group first Indian conglomerate to cross INR 30 lakh cr market capitalisation
Tata Group achieved a historic milestone as its combined market capitalization surpassed INR 30 lakh crore on February 6, making it the first Indian business house to reach this valuation.

Omega Seiki partners Attero for EV battery reuse lifecycle management, targets to recycle 100 MWh of battery in 4 years
Omega Seiki Mobility, a leading electric vehicle manufacturer has announced a partnership with Attero, a leading e-waste management and lithium-ion battery recycling.

MG slashes prices: Comet now cheaper than Tata Tiago EV
MG Motor has done the unthinkable. When all automobile manufacturers have hiked the prices, MG has bowled a googly and has slashed prices across its entire portfolio. Apart from the revision of prices, the company has also launched the new ZS EV Executive variant, making it Rs 1 lakh cheaper than the ZS EV Excite. 

Tata Motors more valuable than Maruti: Crowd folly or new reality?
It has been a season of milestones, highlighted by India's ascent to the fourth largest stock market by market capitalization. In a similar vein, auto major Tata Motors has achieved a significant milestone by surpassing Maruti Suzuki to become India's most valuable auto manufacturer.

Stock Radar: Eicher Motors may hit fresh record highs soon after a recent dip. Here’s why
Eicher Motors Ltd, a part of the auto space, picked up momentum last week after it retested 200-DMA on the daily charts, which suggested that bulls are here to stay.

BPCL, BARC showcase indigenous prototype alkaline electrolyser for hydrogen generation to Prime Minister Narendra Modi
Bharat Petroleum Corporation (BPCL), a leading player in the energy sector has marked a significant milestone today at the India Energy Week 2024 in Goa. The company showcased what it claims is India’s first indigenous alkaline electrolyser to Prime Minister Narendra Modi.

Terra Charge unveils EV charging solutions at Bharat Mobility Expo 2024
Attendees at the Expo had the opportunity to experience live demos of Terra Charge's diverse range of charging solutions, including their fast-charging 7.7 kW AC Charger designed for commercial use, the 82 kW DC Charger that offers fast DC charging and reliable AC charging for vehicles, and the budget-friendly 3.3 kW AC Charger, the company said in a media release.

Hyundai said to be considering one of India’s biggest ever IPOs
Hyundai Motor Co. is considering an initial public offering for its India unit that may raise about $2.5 billion, according to people familiar with the matter, potentially making it one of the biggest listings ever in the South Asian country.  Hyundai has held talks with international banks about the possible IPO, the people said, asking not to be identified discussing confidential information. The company may reach out to domestic advisers for pitches soon, one of the people said. A listing may value the Indian unit at $25 billion, the people said.

It is very heartening to see the government put economics before politics: Anish Shah
The interim Budget for 2024-25  did not give out any election-eve handouts and underlined the government’s commitment to the fiscal deficit glide path that will take the number to 4.5 per cent of GDP by 2025-26. In an interview with businessline, Anish Shah, President, FICCI and Group CEO of the Mahindra Group spoke about how the economic growth momentum will sustain with increased participation from the industry even as the government focusses on fiscal prudence.

5 most affordable mid-size automatic SUVs in India
The compact mid-size SUV segment is one of the most competitive spaces in the Indian car market. And with fast urbanisation and increasing population, road traffic has become a menace . Therefore, automatic transmissions bring a lot of convenience to daily drivers. Let us look at the five most affordable compact mid-size SUVs currently on sale.

Interview: Rana Barua, Group CEO, Havas India, SE Asia and North Asia
Rana Barua, group CEO, Havas India, took on additional charge of the South East Asia and North Asia regions for the company recently. The group intends to bring together the diverse markets under the unified “One Asia” umbrella. In this interview, Barua talks to Christina Moniz about the network’s recent acquisitions and the impact of generative AI on advertising jobs. Edited excerpts:

Some slowdown likely in elections, confident of growth: Ashok Leyland
The commercial vehicle industry slowed down in FY22 and stayed so well into early FY23. With election season coming in, do you think FY25 will be difficult?

Delay in getting investors has only helped us get a better value' : Dheeraj Hinduja , Executive Chairman, Ashok Leyland
Consolidated debt has gone up by Rs. 608 crore and right now stands at  Rs. 1,747 crore.  What is your debt guidance? 

'Product mix turned more premium in Dec quarter' : Anuj Kathuria, President (India) JK Tyre & Industries

Edited excerpts: 

Expect revival of entry-level cars in 2026: Maruti Suzuki
The entry-level four-wheeler segment witnessed an all-time low in CY 2023. Even though the sales in this division have been plunging in the last five years, the premium hatchback now has a lion’s share. This mini hatchback class consists of the Maruti Suzuki Alto, S-Presso and Renault Kwid. The proof is in the puddling as the country’s number one automobile manufacturer decided to pull the plug on the highest-selling car in India, the Alto 800, in 2023 after introducing its new-generation version barely eight months earlier.

Maruti launches compact format Nexa service workshops for non-urban areas
New Delhi: Maruti Suzuki India on Tuesday launched compact-format Nexa service workshops with plans to have 100 such outlets across the country by the end of next fiscal. Through this strategic move the auto major aims to bring the Nexa service experience to customers in non-urban centres, the company said in a statement.

Maruti Suzuki deals: MY2023 Grand Vitara discount up to Rs 75,000
Maruti Suzuki is offering massive discounts on the Grand Vitara. The Nexa brand is providing benefits on the SUV in various options including a cash discount and an exchange bonus on both the Grand Vitara Hybrid and petrol versions. 

Maruti Suzuki Fronx Turbo Velocity Edition launched
Maruti Suzuki has launched the Fronx Turbo Velocity Edition in India, which offers a host of cosmetic updates for the interior and exterior. Customers can opt for the Turbo Velocity Edition when buying the Delta+, Zeta, or Alpha variants, with an additional price of Rs 43,000.

Kia Seltos facelift records 1 lakh bookings, over 40% buyers choose ADAS
Kia Seltos is the one of the best-selling SUVs in India. First launched in August 2019, the Seltos received its first major facelift in July last year. Ever since the launch of the facelifted Seltos, the SUV has garnered over 1 lakh bookings in the country. During the same period, the Korean carmaker received 13,500 bookings (approximately) for Seltos every month.

Hyundai Feb 2024 discounts: Up to Rs 43,000 off on Grand i10 Nios
Hyundai continues to lure Indian customers with substantial discounts on selected models. Almost all models, barring the recently launched Creta facelift and Exter, are being offered with different types of benefits. Let us check the various benefits on offer on Hyundai models in India for the month of February.

Maruti Suzuki offering over Rs 60,000 discount on Alto, Swift, and more
As we roll into February, Maruti Suzuki is offering a host of discounts on its hatchback range, amounting to over Rs 60,000. These discounts on the Maruti Suzuki models include cash discounts, exchange bonuses, and corporate benefits. These discounts are available with dealers until stock lasts and may vary depending on the dealer.

Maruti Suzuki ordered to refund car's price as airbag did not deploy during accident
A consumer panel in Kerala has ordered automobile giant Maruti Suzuki India Limited to refund the price of a car they sold to a customer as its airbag did not deploy during an accident three years ago.

Tatas look to sell 100k EVs in FY25
Tata Passenger Electric Mobility Mobility, which has a 75% market share, plans to sell around 100,000 units in FY25 on the back of new product launches and an expanded retail network. Chief commercial officer Vivek Srivatsa told FE that in calendar year 2023, the company sold over 69,000 EVs in the domestic market, which was up 59%. The overall electric passenger vehicle sales in 2023 stood at 81,870 units, up 114% on year. "Our ambition was to achieve the goal of 100,000 units in FY24, but we will probably fall a little short of it," Srivatsa said.
 

Kia EV9 spotted testing in India for first time, launch in 2024
Kia announced the launch of its flagship electric vehicle— the EV9— in India last year. It will be the second battery-powered vehicle from the Korean carmaker in India after the EV6 crossover. Like EV6, EV9 will also be a fully-imported model brought to the country via the Completely Built Unit (CBU) route.

Electric vehicle sales rose 49% in 2023
Source Credit: The Tribune

Chandigarh: Electric vehicle (EV) sales in India jumped by 49.25% year-on-year to 15,29,947 units in 2023. The volume was driven by two-wheelers followed by three-wheelers and passenger vehicles. The EV industry recorded total sales of 10,25,063 units in 2022.

Need stable GST regime for EVs: Mercedes-Benz India
New Delhi : A commitment from central and state governments to keep taxes on electric vehicles (EVs) low for a long timeframe will be necessary to ensure their continued adoption, a top official at Mercedes-Benz India, the country’s largest luxury carmaker, said.

Bullish on India; luxury car penetration expected to remain low: Audi
Finland: German auto maker Audi is bullish on India but believes that till the time high taxes rationalise to a lower level, penetration of luxury cars in the country will continue to remain low compared to South East Asian countries, according to a senior company official.
 

EV co Switch may raise external funds in FY25
New Delhi : Ashok Leyland will evaluate further investments in Switch Mobility, after a fund infusion of ₹1,200 crore in the maker of electric buses in India and the UK , even as it remains open to external investments in the company, Ashok Leyland’s executive chairman Dheeraj Hinduja said in an interview.

Ashok Leyland margin a show stopper in Q3
For Ashok Leyland, the financial year 2024 is mainly about the stellar margin performance. For the second consecutive quarter, the commercial vehicle manufacturer has clocked a sequential improvement in Ebitda margin.

Ashok Leyland charts a ‘Product Offensive’ drive for the next two years
Chennai: Leading truck and bus maker Ashok Leyland is planning a slew of new launches including vehicles powered by alternative fuel over the next couple of years. It is planning to introduce battery-electric trucks not just in the small truck segment, but also in the medium and heavy segment. Its mini-truck launch is also on the anvil.

Dheeraj Hinduja says diesel not going to completely disappear but alternate fuel to grab key CV market share
Ashok Leyland, one of the country’s largest commercial vehicle manufacturers is investing significantly in new technologies and alternate fuel platforms.

Husqvarna Svartpilen 401 vs Triumph Scrambler 400X comparison
The sub 500cc Scrambler segment sees yet another motorcycle, this time in the form of the Husqvarna Svartpilen 401, an urban scrambler as the company wants to call it. This puts the Svartpilen on the same track as the KTM 390 Adventure and the Triumph Scrambler 400X, making it a confusing choice for customers.

Hero Xtreme 125R vs. Bajaj Pulsar NS 125: All details
Pricing

Two-wheeler digital commerce & finance platform OTO raises $10 million funding
 

Harley-Davidson’s bet on affordability mirrors past lessons, and the future of bike pricing in India
‘Live to ride, ride to live’.

All-electric Kinetic Luna India launch — Here’s what to expect
Iconic names have made a comeback in recent times, and the most-popular one is the Chetak. Now, another name is making a return — Luna. Kinetic Green confirmed plans of bringing back the Luna in an all-electric form last year, and the company will announce prices for the same tomorrow.

River EV raises $40 million in Series B led by Yamaha Motor Co
Bengaluru-based EV start-up River has raised $40 million (Rs 335 crore) in Series B led by Yamaha Motor Co, Japan. The round also saw participation from existing investors Al-Futtaim Automotive, Lowercarbon Capital, Toyota Ventures and Maniv Mobility.

Ramkrishna Forgings bags $13.16 million order from North American market for rear axle components
 

Yuma Energy clocks milestone of 10 million battery swap
Yuma Energy, the technology-powered battery-as-a-service (BaaS) joint venture between Magna and Yulu has announced the completion of 10 million lifetime battery swaps. This landmark milestone coincides with the first anniversary of the Bengaluru-headquartered company, which commenced operations in February last year.

OTO raises $10 million led by GMO Venture Partners and existing investors
OTO, one of India’s leading digital commerce and lending platforms for two-wheelers has raised $10 million (Rs 83 crore) in funding led by GMO Venture Partners and existing investors including Turbostart, Indian cricketer KL Rahul, Prime Venture Partners, Matrix Partners, 9Unicorns funds and a few other family offices also participated in the round.

Eco Mobility organizes CPR training for driver partners in major cities
New Delhi: Eco Mobility, a leading car rental service provider, has completed its latest session of cardiopulmonary resuscitation (CPR) training program for more than 250 driver partners in Delhi, Gurgaon, Mumbai, and Bengaluru.

JK Tyre posts Rs 227 crore profit for Q3 FY2024
JK Tyre & Industries (JK Tyre), one of the leading mobility company has announced its financial results for Q3 FY2024.

Battery-maker Eveready Industries India’s Q3 profit jumps 55% on lower expenses
Battery maker Eveready Industries India reported a 55% jump in third-quarter profit on Tuesday, helped by diminishing input costs. Lithium prices, a key raw material for battery makers, were down in the quarter, helping offset beleaguered rural demand for batteries and flashlights.

GenAI may add USD 1.2-1.5 tn to India's GDP in next 7 years
Upskilling the workforce to enhance productivity

JK Tyre Q3 profit trebles to ₹227 crore

Consolidated revenue grew 1.79 per cent to ₹3,687.72 crore (₹3,612.92 crore). Based on the performance of the company, the Board has declared an interim dividend of ₹1 per equity share (50 per cent) having face value of ₹2 per share, the company said.

Maharashtra and Delhi lead with highest number of EV charging stations in country
There are 12,146 of public Electric Vehicle (EV) charging stations are operational across the country, Minister of state for Heavy Industries, Krishan Pal Gurjar informed the Lok Sabha on Tuesday. Maharashtra leads the way with 3079 operational stations, while Delhi comes second at 1886 stations. Karnataka is third in the list with 1041 stations.

Vedanta chairman Anil Agarwal outlines USD 4 billion investment plan to double oil production
Mining conglomerate Vedanta Ltd will invest USD 4 billion over the next three years to double oil production, its chairman Anil Agarwal said on Tuesday as he pushed ahead with an aggressive oil and gas expansion programme. Vedanta, which more than a decade back acquired Scottish explorer Cairn Energy's (now Capricorn Energy) India assets, is targeting 300,000 barrels per day (15 million tonnes a year) oil output in 3 years from aggressive exploration campaign, he said on the sidelines of the India Energy Week (IEW) here.

PM Modi courts global CEOs for investment in oil, gas sector
He referred to the recently launched exploration licensing round to seek global giants to invest in finding and producing oil and gas in the country.

Gulf Oil India posts Rs 80 crore profit in Q3 FY2024
Gulf Oil Lubricants India, part of the Hinduja Group and Gulf Oil International, has reported its financial results for Q3 FY2024. The company reported revenue of Rs 817.26 crore, up 4 percent YoY and net profit of Rs 80.74 crore, up 28 percent, as against Rs 62.65 crore a year ago.

Mufin Green Finance raises Rs 140 crore in Series B funding
Mufin Green Finance has raised Rs 140 crore in a Series B round of equity funding, on top of Rs 530 crore raised in debt funding, last financial year. The debt funding has been raised from financial institutions, including the State Bank of India, IREDA, AU Small Finance Bank, ICICI Bank, and Kotak Mahindra Investments.

Toyota Hilux gets a third facelift
Source Credit: Autocar India

Toyota has introduced a third facelift for the Hilux pickup truck in Australia and Indonesia, and this is likely to be the last update for the current-gen model before an all-new Hilux arrives next year. There’s a slightly revised front end, a new 48V mild-hybrid tech for the diesel engine and a few feature additions on the inside. Let’s take a closer look.

Mini Clubman production ends after 17 years
Source Credit: Autocar India

The Mini Clubman has gone out of production after 17 years as Mini makes way for the introduction of the electric Aceman, its indirect replacement. The model was sold in India in second generation guise from 2016, although it went on sale globally in 2007 as an estate-bodied version of the Mini hatchback, complete with a novel vertically split tailgate. All versions of the Clubman were assembled at Mini's Oxford facility in Cowley, since it first went on sale as part of Mini's revival of its entire range.

CNG car, SUV sales in India could cross 4.75 lakh units by March
Source Credit: Autocar India

Retail sales data available on the VAHAN website reveals that 3,64,528 CNG cars were sold in the first 10 months of FY2024 (April 2023-January 2024), which is a 29 percent increase over last year's 2,82,364 units. This is not just more than FY2023’s 3,27,820 units but at this pace, it could translate into best-ever fiscal sales of an estimated 4,75,000 units by March 2024.

Top-spec MG Comet EV now cheaper by Rs 1.40 lakh
Source Credit: Autocar India

MG Motor India recently announced a price cut on its entire model range on the occasion of its centenary year. However, the brand had only revealed the starting price of each model at the time. MG has now released the detailed price list of all models, and it’s the EVs in the carmaker’s line-up that see the most substantial price revisions.

Mahindra XUV300 discounts hit Rs 1.82 lakh before facelift launch
Source Credit: Autocar India

In the run up to the launch of the Mahindra XUV300 facelift, dealers are looking to empty as much of their inventory of the outgoing model as possible. In lieu of this, Mahindra showrooms are offering massive discounts and benefits on 2023 and 2024 model year XUV300s. The benefits come in the form of cash discounts, an exchange bonus, corporate discounts, official accessories and extended warranty. Dealers are also said to have significant 2023 model year stock of the slow-selling XUV400 EV, which is why the enormous discounts on the model continue, and have even increased marginally.

Hyundai offers up to Rs 2 lakh discount on Tucson, Alcazar and Verna
Source Credit: Autocar India

Hyundai is offering attractive discounts on almost its entire portfolio. Benefits of up to Rs 2 lakh can be availed, which includes cash discounts and exchange offers, on models such as the Verna, Alcazar, Tucson and more. There are, however, no offers available on the Exter and new Creta SUVs. Listed below are details of all discounts available on each model.

Mahindra Bolero range gets up to Rs 1 lakh off in February
Source Credit: Autocar India

Even in February of 2024, Mahindra dealers are looking to clear inventory of MY2023 Boleros, Bolero Neos and Marrazos by offering significantly large discounts and benefits. Even 2024 models of both the SUVs and MPV also have impressive benefits during this month. Read on to find out how much you could save this February on your new Mahindra SUV. The brand is also offering massive discounts on the XUV300 and XUV400 EV this month.

Yamaha invests in Indian EV startup River
Source Credit: Autocar India

Bengaluru-based electric vehicle startup, River, successfully raised USD 40 million (Rs 332.23 crore) in its Series B funding round led by Yamaha Motor Co. Ltd. Other existing investors participating in this round were the Al Futtiam Group, who led the funding round held in 2023 followed by Lowercarbon Capital, Toyota Ventures and Maniv Mobility. 

California regulator to hold hearing on GM self-driving unit Cruise
The California Public Utilities Commission will hold a hearing Tuesday on a bid by General Motors' Cruise unit to resolve the agency's investigation into the robotaxi company's failure to disclose details of a pedestrian crash involving a self-driving car.

UK pricing and specification announced for new Mercedes-Benz eSprinter
New Delhi: The UK’s most reliable van, as voted by the top 50 leasing companies for nearly a decade, leads the charge in the UK’s large van market with a new electric model that delivers more range, technology, safety, and uptime for fleet operators.

General Motors is recalling over 3,23,000 heavy-duty pickups because tailgates can open unexpectedly
General Motors is recalling more than 3,23,000 heavy-duty pickup trucks in the US because the electronic tailgate release switches can short circuit and open the gates while the vehicles are in park. The recall covers certain Chevrolet Silverado and GMC Sierra 2500 and 3500 trucks from the 2020 through 2024 model years.

Honda Motor to recall over 750,000 vehicles in US - NHTSA
American Honda Motor Co is recalling more than 750,000 vehicles in the United States due to an air bag that may deploy unintentionally during a crash, the National Highway Traffic Safety Administration (NHTSA) said on Tuesday.

Toyota hikes annual profit forecast after Q3 beats expectations
https://auto.economictimes.indiatimes.com/news/passenger-vehicle/toyota-hikes-annual-profit-forecast-after-q3-beats-expectations/107450592?utm_source=newslisting&utm_medium=latestNews

Toyota boosts spending on EV production in United States by $1.3 billion
Toyota Motor Corp. is boosting investment at a plant in Kentucky by $1.3 billion as it prepares to start US production next year of a three-row, all-electric SUV.