Mitsubishi partners with TVS Mobility, to invest Rs 300 crore in new joint subsidiary, TVS Vehicle Mobility Solution
TVS Mobility has announced a joint venture with the Japanese conglomerate Mitsubishi Corporation (MC), a globally integrated business enterprise with a network of around 1,700 group companies, to establish a comprehensive vehicle mobility ecosystem in India. Mitsubishi Corporation will initially invest Rs 300 crores with both parties.

Scheme ready for maize purchases for ethanol production
The government has approved the standard operating procedure (SOP) through which agencies such Nafed and NCCF will enter into pacts with distillers for assured supply of maize at `2,291/quintal for ethanol manufacturing, while the agencies will buy maize from the farmers at an MSP of `2090/quintal for kharif season (2023-24).

Massive support to Pune’s Mega Road Safety Walkathon on Feb 14
Road safety is a collective responsibility. This mega Walkathon where more than 1350 citizens including school children came together, was one of its kind for Pune, to promote awareness, education, and positive change. The first-ever open-platform mega road safety walkathon was a massive success held on the last day of the National Road Safety Month announced by the Union Ministry of Road Transport and Highways.

NXP Semiconductors with Startup India brings 4th season of NXP India Tech Startup Challenge
New Delhi: NXP India, NXP Semiconductors' largest R&D facility, is opening the 4th Season of the NXP India Tech Startup Challenge 2024.

Mitsubishi returns to Indian car market
Mitsubishi Corporation is all set to enter the Indian automobile car sales market this year. According to Reuters, the Japanese company has acquired a 32 per cent stake. As Nikkei Asia reported, Mitsubishi’s investment is expected to be in the region of $33 million to $66 million. Once the investment is finalized, with the help of TVS Mobility, Mitsubishi will set up its dealership across India.

TVS Mobility hives off dealership biz into a new entity, Mitsubishi picks up 30% in it
Chennai: Mitsubishi Corporation, the Japanese conglomerate, will be taking a 32 per cent stake in TVS Vehicle Mobility Solution Ltd (TVS VMS). TVS Vehicle Mobility is a subsidiary of TVS Mobility, the entity formed by the demerger of some business from T V Sundaram Iyengar & Sons Pvt Ltd.

Is 2024 the year when electric cars finally come to the automotive party?

In itself, that number is not particularly striking. Do not forget, about a dozen electric vehicles (EVs) were launched in 2023 and there are about 35 electric cars and sports utility vehicles (SUVs) already in the market.

Mitsubishi to pick up 32% in TVS Mobility’s new arm
“Mitsubishi Corporation has agreed to subscribe to shares (about 32%) in TVS Vehicle Mobility Solutions Pvt Ltd (TVS VMS) through private placement. The completion of these transactions is subject to approval by the relevant regulatory authorities, the Japanese company said a statement.

Stock Radar: Maruti Suzuki breaks out from Symmetrical Triangle; could surpass 12,000 in short term
Maruti Suzuki India, part of the automobile space, has rallied over 10% in a month to hit fresh record highs in February 2024 and the chart pattern suggests that the rally may not be over yet.

Return of Toyota Fortuner Rival: Ford Endeavour, What to Expect?
Last month, Express Drives reported that Ford has filed a patent for the four-generation Endeavour India. The full-sized SUV could be assembled at the American automobile manufacturer’s Chennai factory after the company did a U-turn and decided not to sell it. Here’s all you need to know about the Endeavour. 

CEO’s Take On 2024: CV industry to continue growth in 2024 with strong Indian economy, says Vinod Aggarwal, MD & CEO, VECV
Edited excerpts:

Top 5 most powerful cars and SUVs with a 1-litre engine
A litre is not much — a quick look at a bottle of water will convince you. The same can be said for engines in the past, which barely made enough power to help one get around. However, with technology, engine development, and with the magic of a turbocharger, a 1.0-litre engine can be fun to drive, while also being very efficient.

What’s riding with you on Ahmedabad’s electric buses? Poor air quality
You hop on an air-conditioned bus, thinking you're doing your bit for the environment and that you will be shielded from the dust and smoke outside. However, along with other passengers on the vehicle there is an unseen, risky presence. Particulate matter, a form of indoor air pollution, inside public electric and diesel buses especially during peak hours are a growing concern, says a recent study.

ZF [pro]Service workshop concept to meet future CV business needs
New Delhi: ZF Aftermarket has developed a new ZF [pro]Service workshop concept, which aims to prepare businesses for the future and also identify new sales potential.

Mahindra unveils new variants of Bolero MaXX Pik-Up ; price starts at INR 8.49 lakh
New Delhi: Mahindra & Mahindra Ltd. (M&M), the market leader in Small Commercial Vehicles (SCVs) in India, has launched new variants of the Bolero MaXX Pik-Up range. This latest addition aims to offer enhanced comfort to customers through the inclusion of air- conditioning and the introduction of 14 new features on the iMaxx app.

2024 Honda Grom breaks cover
There is no replacement for displacement, but there’s nothing as exciting as riding a two-wheeler, and the Honda Grom is the best example. Small, light, and a 125cc engine making 10 horses is enough to keep a rider entertained, without getting into trouble. That’s been the Grom’s recipe and for 2024, Honda has unveiled its latest iteration of the minibike.

From nostalgia to cultural resurgence: Yamaha RX100's return sparks enthusiast excitement
The Yamaha RX100, an iconic symbol of biking excellence, is poised to make a triumphant return to the Indian roads, much to the delight of enthusiasts nationwide, reported Stylerug.

2024 Kawasaki Z650RS launched at Rs 6.99 lakh
Japanese motorcycle maker Kawasaki has launched the 2024 Z650RS in India, priced at rs 6.99 lakh ex-showroom, Rs 7,000 more than last year’s model. The Z650RS is a retro-themed motorcycle that uses the tried and tested 650cc inline twin that powers the Z650 and the Versys 650.

Hero Mavrick 440 first ride review: Uniquely orthodox
Ever since Hero MotoCorp announced its partnership with Harley Davidson, it gave many motophiles hope that the country’s largest two-wheeler manufacturer can also build premium motorcycles. The first product from this Indo-American joint venture, i.e., Harley Davidson X440, could only garner mixed reviews.

2024 Honda NX400 and CBR400R break cover — India launch soon?
EICMA is a motorcycle enthusiast’s dreamland and most motorcycles showcased at the 2023 event are slowly making it to the market. The latest to do so are the 2024 Honda NX400 and the CBR400R motorcycles, which have been launched in the Japanese market.

Pure EV raises $8 million from Bennett Coleman, Hindustan Times Media Ventures & others, targets to raise $25 million in Series A1
Hyderabad-based electric two-wheeler company Pure EV has announced that it has raised $8 million (Rs 66 crore) from a consortium of investors led by Bennett Coleman and Company, Hindustan Times Media Ventures, alongside Ushodaya Enterprises, existing investors and HNIs.

Bosch to boost R&D, local electric two-wheelers components
New Delhi : Bosch Ltd is looking to boost investments in R&D and increasing local production of components such as hub motors used in electric two-wheelers (e2w), a top company official said, as adoption of green mobility widens in the world’s fifth-largest economy.

Sona Comstar most competitive auto supplier from India finds Nikkei group ratings
Delhi NCR-headquartered Sona Comstar, a leading tier 1 supplier has the most competitive advantage versus all other Indian rivals as per the latest ranking by the Nikkei group.

Minda Corp rallies 9%; Sula Vineyards slips 8% after huge block deals

Till 01:50 pm; as many as 10.96 million equity shares representing 4.58 per cent of total equity of Minda Corp changed hands on the BSE, the exchange data shows. The names of the buyers and sellers were not ascertained immediately. 

Govt hikes rubber sector support by 23% to ₹708 cr for next two years
The government has increased financial package for the rubber sector by 23% to ₹708.69 crore from ₹576.41 crore for the next two years to enhance natural rubber production and productivity as well as reduce import dependency in the years to come, a senior official said on Monday.

Yokohama India introduces new Geolandar series of off-road tyres
New Delhi: Yokohama India has launched two new additions to its popular Geolandar series – the Geolandar X-AT and Geolandar M/T G003.

Centre hikes allocation for national rubber scheme by 23% to ₹708.69 crore for 2 fiscals
New Delhi: To support production of natural rubber in the country, the Indian government has increased the allocation under the “sustainable and inclusive development of natural rubber sector” scheme by 23 per cent to ₹708.69 crore for the next two financial years (2024-26), the Commerce Department has said.

Continental launches new winter tyre VikingContact 8
New Delhi: Continental has introduced a new soft compound winter tyre, VikingContact 8, to replace the previous model.

Remsons enters into 50:50 JV with Daiichi for auto electronics
Mumbai-based Remsons Industries Ltd., a pioneer in Cables & Shifters for automotive industry, has entered into a 50:50 joint venture with Istanbul-based Daiichi Infotainment Systems which is poised to redefine the landscape of automotive electronics.

LTTS, National Institute of Engineering Mysuru host Illuminate 2.0, aim to inspire engineers
L&T Technology Services (LTTS), an engineering R&D company, and The National Institute of Engineering (NIE) in Mysuru successfully concluded illuminate 2.0. The event brought together industry leaders and innovators to share invaluable insights and perspectives from the world of technology, innovation, and engineering excellence.

Tyre industry accelerating towards $5 billion tyre exports
Kochi: The Indian tyre industry is aiming to increase its export value to $5 billion-plus and emerge among the top-3 global tyre hubs by 2030, said Anshuman Singhania, Chairman Automotive Tyre Manufacturers Association (ATMA). He was speaking at the ATMA Annual Conclave 2024, tyre industry flagship event.

Classic Stripes rebranded as Naxnova
Classic Stripes, the flagship company of the Astarc Group, is a design and technology company providing new generation solutions to global OEMs in the automotive, consumer durables and appliances industries in India and globally has announced its new brand identity. The company will now move forward as ‘Naxnova’. On track to quadruple revenues in the next four years, the company aims to grow the homegrown brand globally under its managing director – Salil Musale.

RenewSys to set up PV modules, cell manufacturing units in Telangana

RenewSys is a company headquartered in Singapore and it has set up integrated manufacturing facility of solar PV modules and its key components Encapsulants, Backsheets, and PV cells, an official release said.
 

Tolins Tyres files draft papers for ₹230-cr IPO
Tolins Tyres Ltd has filed preliminary papers with capital markets regulator SEBI to raise ₹230 crore through an initial public offering (IPO). The Kerala-based company’s initial share-sale is a combination of fresh issue of equity shares worth ₹200 crore and an offer-for-sale (OFS) of shares to the tune of ₹30 crore, according to the draft red herring prospectus filed on Friday. Promoters — Kalamparambil Varkey Tolin and Jerin Tolin — will offload shares worth ₹15 crore each through the OFS route. They own 83.31 per cent stake in the company at present.

Oil prices remains stable due to ongoing Middle East conflicts, brent crude at $83.38/bbl
The global oil benchmark Brent crude remained relatively stable, staying near the $83 per barrel mark, despite persistent worries about demand, on Monday. This stability was attributed to ongoing conflicts in the Middle East, which countered some of the concerns regarding demand fluctuations.

BPCL’s Mobile MAK Adblue Dispenser unveiled in Kolkata
Bharat Petroleum Corporation (BPCL), a leading energy player in the country has introduced its first mobile AdBlue dispenser named ‘MAK Adblue Dispenser’.

Triumph Tiger 1200 range updated for 2024
Source Credit: Autocar India

Triumph has given its flagship Tiger 1200 range a small, yet important, update for 2024, with the changes being more evolutionary than revolutionary. 

Top spec XUV700 AX7 L waiting period down to 2 months
Source Credit: Autocar India

The XUV700 has been a popular model in Mahindra’s India line-up. The versatile SUV is available with a choice of diesel and petrol powertrains, and 5-, 6- or 7-seater configurations. However, due to its popularity, there has often been a rather lengthy waiting period for the XUV700. The AX7 L's waiting period was 9 months in June 2023, which reduced to 6 months by October. Our dealer sources have now revealed that the waiting period is down to a month for certain variants. Read on for the complete variant-wise waiting period break up.

Mahindra Thar waiting periods reduce by 6 months
Source Credit: Autocar India

The Thar has been a decent seller for Indian SUV specialist Mahindra, with monthly despatches averaging over 5,700 units. As we had reported earlier, Mahindra still has a backlog of about 71,000 units of the Thar (including the RWD version), but it has ramped up in production, which in turn has helped reduce waiting time considerably.

Hero Mavrick 440 review: A delightful deal
Source Credit: Autocar India

The new Hero Mavrick 440 is an interesting mix of the familiar and the unknown. On the one hand, it shares quite a lot with the Harley-Davidson X440 that it’s based on, but at the same time, it also represents uncharted territory for Hero – the company’s most premium, largest displacement motorcycle yet.

Why Suzuki is ditching Toyota’s hybrid system in favour of its own for its small cars
Source Credit: Autocar India

Maruti Suzuki may have lost the first-mover advantage in the EV race, but it’s taking the lead with hybrids, which, according to the company, will account for 25 percent of the company’s sales by 2031. Other automakers, however, are sceptical about hybrids, which they see as a transitionary technology to full electrification and not worth investing in. Besides, with no tax incentives given by the government to offset the high cost of a complex hybrid powertrain, hybrid cars are inherently expensive and hence difficult to price competitively. Maruti Suzuki thinks otherwise. India’s No. 1 automaker is betting on the comparatively under-utilised series hybrid tech instead of the more prevalent series-parallel system as a cheaper and more cost-effective solution to make hybrids affordable.

Kawasaki Ninja 500 teased ahead of India launch
Source Credit: Autocar India

Last seen at EICMA 2023, the Ninja 500 has now been teased on Kawasaki India’s social media handle, and its launch is imminent.

Bajaj Pulsar NS160, NS200 get updates
Source Credit: Autocar India

Just a few days after Bajaj teased the updated Pulsar NS200, it has now taken the cover off both the updated NS160 and the NS200. 

Top rated cars, SUVs in new GNCAP crash tests: updated list
Source Credit: Autocar India

It’s been over a year since the new Global NCAP crash test protocol came into effect. Under the new protocol, a vehicle receives a 5-star rating only if it gets the required scores while also conforming to the ESC, pedestrian protection, side impact and seat belt reminder requirements for Global NCAP. So far, 13 made-in-India models have been tested under this new protocol and their rankings are as follows.

New Dacia Spring global debut on February 21
Source Credit: Autocar India

Dacia will unveil a heavily updated Spring EV on February 21, which is essentially an all-electric version of sister brand Renault's Kwid. The current-gen Spring EV and Kwid EV are on sale across the globe, but the latter didn't launch here despite Renault previewing it as the Renault K-ZEV concept at the 2020 Auto Expo. The new Dacia Spring, like the current model, will also have a Renault derivative in the form of the Kwid EV, which will debut a little later.

JLR evaluates EV manufacturing in India for the world
Source Credit: Autocar India

Amid intense ongoing negotiation of the India-UK Free Trade Agreement, JLR (formerly Jaguar Land Rover), the marquee brand owned by Tata Motors, is exploring the potential of manufacturing electric vehicles in India. The discussion, which is at an advanced stage of conclusion, if given the green light, will create the biggest manufacturing facility for JLR outside of the UK. The investment is likely to be made in Sanand, Gujarat, however, the company is exploring other alternatives, including Pune – its original home base.

Hyundai Creta sales cross 10 lakh mark in India
Source Credit: Autocar India

The Hyundai Creta has clocked a new milestone in India – the country’s bestselling midsize SUV has surpassed a million (10 lakh) sales this month. In the first 10 months of the current fiscal year, the Creta averaged sales of around 13,103 units per month, which translates into 436 units each day.

Mitsubishi Corp to invest in TVS Mobility to boost Japanese carmakers' India sales
Source Credit: Autocar India

Japanese trading house Mitsubishi Corporation is set to acquire over 30 percent stake in TVS Mobility, according to a report by Nikkei Asia. TVS Mobility operates about 150 car dealerships in India and one of the first priorities of this investment will be to expand sales of Honda cars in the country.

Self-Driving cars might just transform the way we work
The head of BMW Group Designworks steered his car into a rest stop, highway traffic whizzing by in the background, and then dialed into his meeting.

Stellantis considering building Leapmotor EVs in Italy, report says
Stellantis is considering building up to 150,000 low-cost electric vehicles (EVs) in Italy, in its Mirafiori complex in Turin, as part of its agreements with Chinese automaker Leapmotor, Automotive News Europe said on Monday.

French recycling plant on fire housing 900 tonnes of lithium batteries
Some 900 tonnes of lithium batteries were on fire at a battery recycling plant in southern France, authorities said on Sunday, sending a cloud of thick black smoke into the sky above the site.

Auto parts supplier Forvia to cut staff in Europe
French-German auto parts manufacturer Forvia announced plans to cut 13% of its workforce in Europe over the coming years in an effort to boost competitiveness and profitability in a sluggish and shifting car market.

BorgWarner to supply e-motor rotor and stator for Xpeng Motors
American powertrain supplier BorgWarner has started production of e-motor rotor and stator for XPeng Motors, a leading Chinese Smart EV company.

Logistics brands struggle with the EV transition
All of this comes with a hefty climate footprint. FedEx Corp., United Parcel Service Inc. and DHL Group, three of the world’s larger delivery companies, combined to emit 92 million tons of heat-trapping gases in 2022 — more than the entire climate footprint of Greece. The industry’s emissions will likely grow as demand for last-mile delivery is expected to climb 78% by 2030, according to the World Economic Forum.

Plan to launch 'high-end luxury' models from this year, says China's BYD
China's BYD plans to launch a number of "high-end luxury" models from this year, it said in Hong Kong stock market filing.