EV ecosystem is equally important if not more: 4 auto ancillary stocks with upside potential of up to 32%
While the whole focus of transition to EV space has been on auto companies. The fact is that any auto company cannot make a successful transition till the time its own supply chain, which essentially are auto ancillary companies which supply components to that automakers make that transition. There were some players who were quick enough to understand and started work on this year's back. Infact many auto ancillary players had started this process even before auto majors announced their intentions. There are some who were late due to a valid reason, and some just because they were not able to anticipate that speed at which transition to EV would come. It has come much faster as compared to what was expected. The issue is that some auto ancillary that cannot make that transition because their products are not required in an EV, there are others who had to make the modification to adjust it to what is likely to be the future.

Mint Primer: Why passenger cars may move into the slow lane soon
Top industry officials of the $120-billion domestic automotive industry met in New Delhi last week to brainstorm over what could be in store next year. They expect a slowdown in the growth of passenger vehicles. Mint finds out why:

Servotech Power signs deal with Adani Total Energies E-Mobility for EV chargers
New Delhi: Servotech Power Systems Ltd., a leading EV charger manufacturer and charging solutions provider, has signed a contract with Adani Total Energies E-Mobility Ltd. (ATEL) for AC EV chargers.

Tax implications likely to influence Hyundai's decision to list Indian arm
Hyundai Motor is mulling an initial public offering for its Indian arm to raise around $3 billion (at a valuation of up to $30 billion), and talks are in the early stages between the company and bankers, banking sources revealed. Hyundai Motor India Ltd (HMIL), however, declined to comment on the development.
 

GFCL EV plots Rs 6,000 crore investment to localise EV battery supply chain in India
GFCL EV Products (GFCL EV), a wholly-owned subsidiary of Gujarat Fluorochemicals, has announced its plans to invest Rs 6,000 crore (out of which approximately Rs 650 crore is already invested till December 31, 2023) over the next 4- 5 years.

Torus Robotics secures seed investment from TNIFMC
Chennai: Torus Robotics Pvt Ltd, the Chennai-based DeepTech start-up specialising in indigenous powertrain technology for the EV automotive market, defense, aviation and consumer markets, has raised a seed investment of $4.70 lakh led by the Tamil Nadu Infrastructure Fund Management Corporation (TNIFMC), under Tamil Nadu Emerging Sector Seed Fund.

Opinion: How India can move from Level 2 to Level 3 autonomy of cars and beyond
New Delhi: In recent years, the Indian automotive industry has witnessed significant advancements in driving technologies. With the rise of artificial intelligence (AI) and machine learning (ML), cars are becoming smarter and more capable of performing complex tasks without human intervention.

Zoomcar and CARS24 ink strategic partnership
Zoomcar, a leading marketplace for car sharing in emerging markets and CARS24, India’s leading AutoTech platform for pre-owned cars have inked a strategic partnership to empower local hosts in their car-sharing entrepreneurial journey.

One-off Volkswagen Virtus convertible makes debut in Brazil
Volkswagen introduced the Virtus in 2022, a product developed and built in India for the world. Underpinned by the heavily localised MQB A0 IN architecture, Virtus has found its way to other international markets like Brazil. Recently, the German brand introduced a one-off convertible edition of Virtus in Brazil.

Maruti Suzuki setting up workshops for its premium sales channel Nexa in Tier 2 cities
 

MG Comet EV Vs Tata Tiago EV: Which entry-level EV offers more value?
MG Motor India recently slashed prices of its entire lineup. As a result, the brand’s entry-level model, Comet EV, became a lakh cheaper with prices starting at Rs 6.99 lakh (ex-showroom). After the recent update, the Comet EV is now Rs 1.60 lakh more affordable than its closest competitor– Tata Tiago EV. Let us see how these two entry-level EVs stack against each other and which one offers better value for money.

MG Comet receives a MASSIVE price cut! Check out new new prices
In a bid to make electric vehicles more accessible to the Indian market, MG Motor India has announced significant price reductions for its small electric car, the MG Comet EV. The price cuts, ranging between ₹99,000 and ₹1.40 lakh, have positioned the Comet EV as a more affordable option in the electric car segment. The three trim options, namely Pace, Play, and Plush, now come with revised prices of ₹6.99 lakh, ₹7.88 lakh, and ₹8.58 lakh (ex-showroom), respectively.

NITI Aayog bats for incentives for LNG-fuelled commercial vehicles
NITI Aayog has proposed a host of fiscal and non-fiscal incentives, extension of the production linked incentive scheme to LNG-fueled vehicles and setting up a demand aggregator to encourage use of liquified natural gas (LNG) in medium and heavy commercial vehicles.

Demand trajectory remains good for Q4, but for a possible election dent: Ashok Leyland
New Delhi: Supported by the huge infrastructure push, the commercial vehicle industry is well positioned for the next year and in the medium term, said the Chennai-based Ashok Leyland.

CV demand falls to 7-quarter low

Reluctance of bank  to lend and the upcoming general elections have led to a deceleration in demand for trucks with no hope for revival before June this year, say industry players. The three months to December witnessed a growth of less than 4% in commercial vehicle (CV) volumes making it the slowest quarter in seven guar-ten with the exception of the June quarter, when there was a fall, according to data supplied by the Society of Automobile Manufacture (Siam). 

Eicher deliver 6 Skyline Pro E 9M e-buses to Indian Army

Eicher Trucks and Buses, a division of VE Commercial Vehicles (VECV) has delivered 6 Eicher Skyline PRO E 9M Staff AC electric-buses to the Indian Army. These deliveries support the Indian Army’s transformative initiative to deploy environment friendly and sustainable transportation for staff and troop movement.

Indian Roadmaster Elite unveiled — All you need to know
Indian Motorcycle has unveiled the limited edition Roadmaster Elite, a custom-inspired, tri-tone motorcycle based on the Roadmaster platform. Limited to 350 units worldwide, the motorcycle features premium components, making it stand out in the large touring motorcycle segment.

Kawasaki Z500 launched in Europe — India next?
Kawasaki recently unveiled the new Z500 and the Ninja 500 at EICAM and now the Japanese motorcycle maker has launched the Z500 street naked in Europe, priced at approximately Rs 5.5 lakh. Here’s a detailed look at the new Kawasaki Z500.

Yamaha FZ-X Chrome and Metallic Black colour schemes launched in India
At the recently concluded Bharat Mobility Expo, Yamaha showcased a range of motorcycles, including the FZ-X in a chrome and black finish. Now, Yamaha has officially launched the Chrome and Metallic Black colour options in India. The Yamaha FZ-X Chrome finish is priced at Rs 1.39 lakh, while the Metallic Black is priced at Rs 1.36 lakh, ex-showroom.

Kinetic Luna EV launched at Rs 69,990
The much-talked-about Kinetic Luna has been launched in India at an introductory price of Rs 69,990, ex-showroom. The company opened bookings on January 26, and Kinetic claims that the new E-Luna has garnered 40,000 bookings to date.

Ola S1X variants explained — Which one suits you the best?
The modern iPhone range is quite confusing to some, with the regular, Plus, Pro, Pro Max, and so on. Ola has taken a similar route with its scooter range and the new S1X, is now available in a total of four variants, depending on the battery pack, features, and other aspects. Here’s a detailed look at the Ola S1X variants in detail.

Pure EV launches ePluto Series based on X Platform 2.0
Pure EV has announced the launch of the X Platform 2.0 Limited Edition variants for the ePluto 7G, Pro, and Max models. This update offers enhanced speed and improved mileage.

Varroc reports Rs 383 crore net profit for Q3, strong order book of Rs 6,757 crore in 9 month of FY2024
Tier 1 supplier Varroc Engineering (Varroc) has announced its results for the Q3 and 9-months of FY2024.

UNO Minda posts Rs 193 crore profit for Q3 FY2024
Tier 1 supplier Uno Minda has announced its results for Q3 and 9-month FY2024.

SKF rejigs Group Management structure to attain profitable growth
Global bearings major, SKF has announces changes in its Group Management as it looks to accelerate strategic transformation and profitable growth.

Endurance Tech posts Rs 152 crore profit for Q3 FY2024, up 40%
Tier 1 supplier Endurance Technologies has announced its financial results for Q3 FY2024.

Ola Electric considers bid for lithium mining rights
SoftBank-backed Indian e-scooter maker Ola Electric is considering bidding for mining rights for lithium blocks being auctioned by the Indian government, sources said, in a move that could boost its EV battery manufacturing plans.

Yuma Energy completes 10 m battery swaps in a year
New Delhi: Yuma Energy, the technology-powered battery-as-a-service (BaaS) company founded as a joint venture between Magna and Yulu, has completed 10 million battery swaps.

SMILe partners with Skye Air to unveil drone delivery service for merchants
New Delhi: SMILe (Shree Maruti Integrated Logistics Ltd), leading E-commerce enablement platform, has announced its collaboration with Skye Air, leading SaaS-based autonomous logistics solution provider.

BBT aims for Rs 600 cr topline, with one-third revenue coming from K'taka
Mumbai: Pre-owned luxury car seller Big Boy Toyz on Wednesday said it aims a topline of Rs 600 crore in the coming financial year, with one-third of this revenue coming from Karnataka.

Lumax Cornaglia Auto Tech’s new Rs 30 crore plant inaugurated in Pune
Lumax Cornaglia Auto Technologies (LCAT), a joint venture between Lumax Auto Technologies and Cornaglia, Italy, has expanded its operations in the country by opening a new manufacturing facility in Chakan, Pune.

JK Tyre’s Anuj Kathuria sees SUVs, smart tyres driving sales, hints at product offensive in FY25
JK Tyre & Industries is banking on the demand for premium products to drive the next phase of growth. In fact, the company has already earmarked about Rs 1,400 crore investment of which Rs 1,000 crore will go towards brownfield expansion of which majority will be towards passenger vehicle tyres while the remaining will be towards truck & bus radials.

GoMechanic introduces extended warranty program for cars upto 8 years old
GoMechanic, a leading car servicing solutions company has launched GoMechanic Protect Plus, an extended warranty program.

Apollo Tyres Q3 profit rises 78 per cent to Rs 497 crore
Apollo Tyres on Wednesday said its consolidated net profit increased by 78 per cent to Rs 497 crore for the third quarter of 2023-24 on account of improved product mix across geographies. The company reported a net profit of Rs 279 crore in the October-December quarter of FY23.

Declining raw material prices help to boost tyre makers' profitability

Manufacturers like CEAT, JK Tyre and Apollo Tyres posted significant increase in net profits, which was primarily attributed to decline in raw material costs. 

Oil companies losing close to Rs 3 a litre on diesel, profit on petrol down
State-owned fuel retailers are losing close to Rs 3 per litre on selling diesel while the profit on petrol has trimmed due to recent firming up in international oil prices, industry officials said detailing reasons for continuing to hold retail prices. Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL), who control roughly 90 per cent of India’s fuel market, ‘voluntarily’ have not changed petrol, diesel and cooking gas (LPG) prices for almost two years now, resulting in losses when input cost was higher and profits when raw material prices were lower.

India to be largest global oil demand growth driver through 2030: IEA
India is expected to be the largest driver of global oil demand growth between 2023 and 2030, narrowly taking the lead from top importer China, the International Energy Agency (IEA) said on Wednesday.

F MEC partners with Finayo to disburse INR 25 crore for EV trade financing.
Apoorve Bansal, Managing Director, F MEC, said, “Witnessing the potential of Finayo as a trailblazer in the EV financing and asset management ecosystem, we’re dedicated to recognizing and offering the substantial financial support required to address the surging need for sustainable mobility solutions. With Finayo we are able to alter the green mobility lending industry.”

Range Rover Electric already has over 16,000 interested buyers
Source Credit: Autocar India

The Range Rover Electric, which will go on sale later this year, has already gathered more than 16,000 interested buyers worldwide, according to the brand. Order books for Range Rover’s first EV opened in December 2023. The waiting list, however, only gives an indication of interested customers rather than a formal reservation.

Skoda Octavia facelift global debut on February 14
Source Credit: Autocar India

Skoda will take the wraps off the Octavia facelift on February 14. The car’s new design has been previewed by a series of sketches that reveal sleeker styling. Skoda has also confirmed that the Sportline and range-topping vRS variants will continue.

Taycan facelift now Porsche’s most powerful road car
Source Credit: Autocar India

Porsche has facelifted the Taycan for the first time since it went into production in 2019, but unlike most facelifts where updates are largely cosmetic, in true Porsche fashion, the Taycan gets a ton of electrical upgrades – it's more powerful, gets better electric hardware, is more efficient, and naturally, has better performance as well.

New fourth-gen Mini Cooper petrol revealed
Source Credit: Autocar India

Mini has revealed the fourth-gen Cooper petrol 3-door hatchback as the final combustion-engined iteration of the Mini. Taking visual inspiration from the 1959 original, the hatch has been the mainstay of the Mini line-up since BMW relaunched the brand in 2000. The new-gen model will get a 3-door, 5-door, a soft-top convertible and a John Cooper Works version.

2024 Indian Roadmaster Elite revealed
Source Credit: Autocar India

Indian Motorcycle has unveiled the 2024 Roadmaster Elite, featuring an exclusive paint scheme that pays homage to the red paint of the 1904 Indian Camelback. The Roadmaster Elite also has many optional features not seen in the Indian Roadmaster Limited. 

Honda City, City hybrid and Amaze get up to Rs 1.12 lakh discount
Source Credit: Autocar India

Honda is offering attractive benefits on the City, Amaze and older City e:HEV models. The total benefits on offer are inclusive of cash discounts or accessories, exchange bonus, corporate bonus and even a loyalty bonus. Here’s a closer look at all offers available on each model.

2024 Bajaj Pulsar N150, Pulsar N160 launched, prices start at Rs 1.18 lakh
Source Credit: Autocar India

After unveiling the 2024 models of the Pulsar N150 and N160 a few days ago, Bajaj has now officially launched the two bikes in India. Both bikes now get two variants each, with prices for the Bajaj Pulsar N150 ranging between Rs 1.18 lakh-1.24 lakh, while the Pulsar N160 is priced between Rs 1.31 lakh-1.33 lakh.

Kinetic E Luna launched at Rs 69,990
Source Credit: Autocar India

A few weeks after it was listed on some e-commerce websites, Kinetic Green has launched the E Luna at an introductory price of Rs 69,990 in India (ex-showroom, Delhi). 

Tata Nexon EV facelift gets Rs 1 lakh discount on MY2023 stocks
Source Credit: Autocar India

Tata Motors is offering attractive discounts and benefits on the entire Nexon EV line-up, including the recently launched Nexon EV facelift. However, these discounts are only available on the cars manufactured in 2023 to clear unsold stock.

Toyota shares hit record high after earnings upgrade, domestic rivals in focus
Toyota Motor shares hit a record high on Wednesday after its earnings upgrade the prior day, with rivals Honda and Nissan also posting gains on expectations their solid hybrid lineups may benefit from cooling interest in electric vehicles.

Tesla asks which jobs are critical, stoking layoff fears
Tesla Inc. staff are bracing for potential job cuts after managers were asked to affirm whether each of their employees’ positions is critical.

Ford could get 50% more profit without EVs
Pickup trucks and big sport-utility vehicles are too heavy to turn into efficient electric vehicles. Ford’s results showed Tuesday that this is both a blessing and a curse for the companies that make the monsters of the road.

Toyota brings BEV production to Kentucky
New Delhi: Toyota announced a USD 1.3 billion investment at its flagship Kentucky facility for future electrification efforts including assembly of an all-new, three row battery electric SUV for the US market. The project brings the plant’s total investment to nearly USD10 billion and reinforces Toyota’s commitment to high-quality vehicles and long-term job stability.

Ford shares surge on dividend boost, lower EV spending
Ford Motor shares surged 6% in premarket trading on Wednesday after the automaker increased its dividend for the first quarter and decided to scale back investments in new capacity for loss-making electric vehicles (EV).

China's new energy vehicle sales drop m/m for first time since Aug
China's new energy vehicle sales fell 38.8% versus the previous month, the first such drop since August 2023, industry data showed, as demand faltered in the world's largest auto market despite a renewed discounting push led by Tesla.

IPO for India unit not decided yet, final decision in a month: Hyundai
"As a global company, we constantly review various measures, including listing overseas subsidiaries, to increase corporate value, but nothing has been decided," Hyundai Motor said in a regulatory filing.