Top Indian Automobile Industry News & Updates - 27 Feb 2024,Tuesday
🏢 Industry
Centre propose amendment in CMVR rules related to LPG retrofitting
The proposed amendment offers relief by doubling the validity of type approvals from three to six years.
India chip strategy makes progress with USD 21 billion in proposals
The Indian government, after years of watching from the sidelines of the chips race, now has to evaluate USD 21 billion of semiconductor proposals and divvy up taxpayer support between foreign chipmakers, local champions or some combination of the two.
Auto industry to grow over 6x by 2047: Kalyani
The Indian automotive industry will grow six to sevenfold from the current four million vehicles per year by 2047, Baba Kalyani, chairman and managing director, Bharat Forge, said on Monday.
MG Motor India, JSW Group joint venture may go live in a few weeks
Speaking on the company’s strategy, Rajeev Chaba, CEO emeritus, MG Motor India, says: “We are expecting that the JV with JSW (in which the latter will have 30 per cent stake) will close in a few weeks, after which, we will finalise and announce the plans for expansion and also investment. Our belief is that the tipping point for the electric passenger vehicle industry is at 7-8 per cent (penetration) which should be reached by 2026. In CY24, we expect penetration to be at 4 per cent, up from 2.5 per cent in CY23.”
Vehicle regn hits top gear, revenue sets record in ’23
Revenue generated from registration of new vehicles in 2023 has broken past records, with the Registering and Licensing Authority (RLA) earning INR 261 crore from registration of two and four-wheelers.
Ford files patents for new compact SUV in India rivalling Hyundai Creta
Recently it was reported that Ford would return to India with the company recruiting for several roles at its Chennai-based manufacturing facility. The icing on the cake was the American carmaker filing design patents for the fourth generation Endeavour, internationally called Everest.
Ford likely to drive back to India with EV, hybrid focus
Mumbai: Global auto major Ford Motor is working on a comeback to the Indian market with a focus on hybrid and electric vehicles. The company may use its manufacturing facility in Chennai for producing these cars, according to sources.
Female workforce grows in automotive manufacturing as tech adoption surges
Industry giants like Tata Motors have over 6,500 female shop floor technicians across its manufacturing facilities, producing electric cars, SUVs, and heavy commercial vehicles. The automaker assembles its flagship Harrier and Safari SUVs with a 3,000-strong all-women team at its Pune plant. Moreover, the company has over 3,700 women shop floor technicians involved in assembling commercial vehicles across various plants.
'Indian customer is demanding... historically very difficult to operate here,' says Uber CEO Dara Khosrowshahi
India is a significant market for Uber, considering its potential to set the stage for global success, believes Uber Technologies' CEO Dara Khosrowshahi.
Passenger vehicles stay ahead of the curve for 2nd month in calendar year
PV volume to increase by 5-7 %, touch new peak in FY25
Uber way behind Ola in India: Bhavish Aggarwal responds to Khosrowshahi
Aggarwal’s remarks came in response to Khosrowshahi’s interview with a national daily, in which he said that while Ola focuses on other areas (like its electric vehicle business), Uber loves the ride-sharing business. The Uber chief also asserted that he is in this business to win and not be in second place.
📝 Hyundai, Kia's overseas car production tops 3.68 mn units in 2023
📝 SUVs to continue steering PV sales to record high in FY25, but overall demand scenario a concern
📝 VinFast echoes Tesla's demand for India to cut import duty on electric cars
📝 Adani seeks tie-up with Uber to accelerate super app, electric cars
📝 VinFast breaks ground for 400-acre EV manufacturing facility in Tamil Nadu: Seeks import cuts from Modi govt
📝 They make motors to drive EV costs down
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🎤 Interviews & Features
📝 Why the transition to Clean Energy in the Transportation Sector has become imperative
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🚗 Cars / SUVs
Volkswagen India opens two new touchpoints in UP
Volkswagen India has inaugurated two new customer touchpoints in Uttar Pradesh. The two new dealerships are located in Prayagraj and Meerut. Their inauguration follows the recent opening of two other touchpoints in Uttar Pradesh, growing the Brand’s presence in the state to 14 sales and nine service facilities.
Skoda Auto Volkswagen India’s warehouse gets platinum certification for green initiatives
Skoda Auto Volkswagen India, one of the leading automakers in the country, has received the Indian Green Building Council (IGBC) Platinum certification in the Indian Automotive Industry in the owner-occupied category.
Hyundai Motor India supports ‘Progress for Humanity’ at Gurugram Marathon 2024
New Delhi: Hyundai Motor India supported the Gurugram Marathon 2024, as a platinum sponsor, in line with its global brand vision of ‘Progress for Humanity’. The Government of Haryana organized the event, under the patronage of the Chief Minister, Manohar Lal.
Top 10 features to expect in 5-door Mahindra Thar
Mahindra has multiple models lined up for launch for 2024, the most exciting of them all is the 5-door version of Thar. Prototypes of this elongated Thar have been spotted testing on numerous occasions in various parts of the country for over the past couple of years. It is expected to hit markets in the next few months.
India-bound 2024 Hyundai i20 N Line facelift breaks cover
Hyundai has introduced the facelifted i20 N Line in Europe. The sporty hatchback gets plenty of minor cosmetic updates over the existing model although mechanically it is identical to the current i20 N Line. Production for the updated i20 N Line will commence later in April this year in Europe.
📝 No country other than India has better prospects for future: Maruti Suzuki Chairman RC Bhargava
📝 Own a Toyota Urban Cruiser Hyryder? Here are your accessory options
📝 Hyundai Creta N Line ready for launch: From i20 to venue all N Line models available in India
📝 Citroen C3 gets a new Cosmo Blue colour option, Zesty Orange discontinued
📝 Made-in-India Honda Elevate launched in South Africa: How much it costs there
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Electric-Cars / SUVs
BYD Seal specifications revealed ahead of official launch
Chinese carmaker BYD is all set to launch the Seal in India on March 5. However, the specifications of the BYD Seal have surfaced online, revealing details. Before we get into it, the BYD Seal will be brought to India as a CBU and will be positioned above the BYD Atto 3.
📝 Jeep unveils new Avenger 4xe electric version for different terrains
📝 Skoda to launch Enyaq EV tomorrow: Specs, range, features and price expectation
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🚗 Luxury Cars
Volvo Car India strengthens management structure
Volvo Car India, has revamped and strengthened its management team under the leadership of MD, Jyoti Malhotra.
📝 SRK's Jawan co-star Priya Mani buys Mercedes-Benz GLC worth Rs 74.20 lakh: Details
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⛟ Commercial Vehicles
DK district soon to get 85 electric buses
KSRTC Mangaluru and Puttur divisions will introduce eco-friendly electric buses on prominent routes in Dakshina Kannada district as well as inter-district destinations soon.
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🏍 2/3 Wheelers
TVS HLX series achieves 3.5 million sales milestone
TVS has announced that its TVS HLX line of two-wheelers has crossed the milestone of 3.5 million customers in international markets. The TVS HLX line was first made available 10 years ago in Africa and is now available in 50 countries across Latin America, Africa and Asia.
Eicher Motors faces volume growth challenge
This raises the question of whether RE may have priced itself out of incremental demand or if the market for its products is inherently price in elastic suggesting that even lower / prices might not significantly boost sales.
India Yamaha Motor now official sponsor of Monster Energy Yamaha MotoGP Team
India Yamaha Motor Pvt. Ltd. (IYM)has announced that it is now the official sponsor of the Monster Energy Yamaha MotoGP team for the 2024 season. Building upon the success of the first-ever Indian GP in 2023, IYM is proud to deepen its connection with the esteemed MotoGP.
Kawasaki Ninja 500 vs competition – Spec check
The sub 500cc sportbike segment is gaining popularity with new motorcycles, which include two new launches — the Aprilia RS457 and the newest entrant, the Kawasaki Ninja 500. The latest Japanese motorcycle takes on several other competitors in the segment from KTM and Yamaha, and here’s how it compares against its competition in terms of specifications.
📝 TVS Motors launches TVS HLX 150F with new features to mark best-selling model's milestone sales
📝 Food influencer Karan Dua brings home the new Royal Enfield Shotgun 650: Details
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🚲 Electric 2/3 Wheelers
India's three-wheelers segment charged up with electric transition
Rajesh was persuaded to bet on electric after friends vouched for lower fuel cost. “They were making more than me just because of cheaper fuel,” he explains.
Yulu to re-focus on people mobility after $80 mn expected funding push
New Delhi: Bajaj Auto-backed electric ride-sharing platform Yulu, which started off as an e-bike rental company but pivoted to goods transport in the aftermath of the pandemic, is looking to get back to moving people around, through a big supply push it'll make after it closes a Series-C funding round.
TVS Motor's Singapore arm to raise stake in Killwatt GmbH to 49% for EUR 4 mn
New Dehi - In a strategic move to strengthen its position in the rapidly growing electric mobility sector, TVS Motor (Singapore) Pte Ltd has announced the acquisition of an additional 8,000 equity shares in Killwatt GmbH, bringing its shareholding from 39.28% to 49%.
📝 Incentive scheme for three-wheeler EVs
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🌇 Allied Industries
CEAT keen to grow market share in electric 4-wheeler segment
Mumbai: Tyremaker CEAT Ltd is looking to grow its market share by up to 16 per cent in the electric vehicle four-wheeler segment. The company has partnered with Original Equipment Manufacturers (OEM) to develop electric two- and four-wheeler tyres.
Log9 batteries to power ETO Motors electric three-wheelers
Log9 Materials, an advanced battery technology company has inked a strategic partnership with ETO Motors, an Electric Mobility as a Service (eMaaS) and a manufacturer of electric three-wheeler vehicles, to provide sustainable and reliable battery solutions for ETO Motors’ fleet.
INROAD project brings 70,000 hectares under natural rubber in North-East
Kochi: In a major boost to the natural rubber plantation drive in the North-East, nearly 70,000 hectares (ha) havebeen brought under farming under the INROAD project in three years. This represents one of the highest area under new plantations in the North-East in a block of three years.
Brembo strengthens presence in Southeast Asia, to setup 40 million euros new facility in Thailand
Brembo, one of the leading braking systems company has opened its first production site in Thailand. The company says the investment, totalling approximately 40 million euros (Rs 350 crore), reflects its strategy to expand its industrial presence globally and allows Brembo to seize new growth opportunities in the Southeast Asian region.
Ceat ISRL — Dirt, jumps, and one spectacular event
The first edition of the Ceat Indian Supercross Racing League (ISRL) put on a spectacular grand finale in Bengaluru, with CS Santosh’s Big Rock team taking home the overall victory, with nine-time Australian champion Matt Moss taking the 450cc international category win.
📝 Goodyear strengthens distribution in Ireland with TyreCall
📝 They make motors to drive EV costs down
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🌢 Fuels, Lubricants & Charging Stations
📝 Oil extends losses in early Asian trade
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🌍 Emissions/Environment
📝 NGT asks for DPCC report on rail oil spill
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💸 Finance & Insurance
Mahindra Finance forays into MSME focused co-lending partnership with Lendingkart
This pan India collaboration marks the foray of Mahindra Finance, which is part of the Mahindra and Mahindra Group, into the co-lending space exclusively for the SME sector under an 80:20 structure, where Lendingkart will leverage its tech platform Lendingkart 2gthr, it said. Lendingkart 2gthr, the company’s flagship E2E platform will power the entire customer journey from origination to underwriting, disbursals, and collections.
ACKO partners with Hero MotoCorp for removable EV battery warranty plan
New Delhi: ACKO, a private sector general insurance company in India, has introduced an extended battery warranty plan tailored for removable batteries of electric vehicles (EVs).
BoB cuts floating interest rate on car loans by 65 bps
Mumbai: Bank of Baroda (BoB) has cut floating interest rates on car loan by 65 basis points for a limited period up to March-end 2024. With this car loan interest rates now start at 8.75 per cent against 9.40 per cent earlier. The public sector bank said it is also offering car loans at fixed rate of interest starting at 8.85 per cent.
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📖 Magazines News
Mahindra Thar 5 door launch confirmed for mid-2024
Rajesh Jejurikar, executive director and CEO, Mahindra and Mahindra, has confirmed at the company's last earnings call that the Thar 5-door will go on sale sometime in the middle of this year.
VinFast requests reduction in India EV import duties
Source Credit: Autocar India
VinFast has requested the Indian government to cut import duties on cars for around two years. The Vietnamese brand hopes customers will be able to familiarise themselves with its models before the plant in Tamil Nadu begins churning out EVs, a company executive informed Reuters.
Tata Nexon EV vs Mahindra XUV400: real-word range compared
Source Credit: Autocar India
The Tata Nexon EV and Mahindra XUV400 EV are bitter rivals in the all-electric SUV space, and have been tested repeatedly against each other, as the brands updated their EVs time and again. The Nexon EV last received a major facelift in September last year, while the XUV400 was updated just this January. While the Mahindra didn’t get any mechanical upgrades, the Nexon EV did see an improvement in the efficiency of the powertrain and the better aerodynamics, which Tata claims has helped the EV SUV’s range.
Husqvarna Svartpilen 250 India launch possible
Source Credit: Autocar India
The Husqvarna Svartpilen 250 has recently been homologated in India, sparking speculation that the bike will be launched here soon.
Branded Content: Retracing Skoda’s Road To 100k
Source Credit: Autocar India
Skoda Auto India is no stranger to achieving sales milestones. But this is a very special one. The company has reached an important milestone of selling over 1,00,000 cars over the last two years. It achieved this landmark in the shortest time in its India operations, further underscoring the fact that India is a key market for the company.
TVS Raider 125 is now the brand's bestselling bike
Source Credit: Autocar India
Since its launch a little over two years ago, the TVS Raider 125 has raced past cumulative sales of 7 lakh units in India.
Mercedes-Benz to continue selling combustion-engined cars beyond 2030
Source Credit: Autocar India
Mercedes-Benz will continue to sell combustion-engined cars “well into the 2030s” as it adjusts to changing demand for its electric vehicles, the company’s CEO has said. Mercedes had announced in 2021 that it planned to become all-electric “wherever market conditions allow” by 2030.
Maruti Grand Vitara, Fronx get over Rs 1 lakh discount on MY2023 units
Source Credit: Autocar India
Maruti Suzuki has been offering very attractive discounts for several months now, especially on some popular models such as the Jimny, Grand Vitara and Fronx. The benefits have been particularly attractive on unsold MY2023 Nexa models as dealers inventory levels are high, which is why they are desperately trying to push sales.
Fiat shows five retro-styled concepts
Source Credit: Autocar India
Fiat has revealed five retro-style concepts that will transform into production models starting this year. The first of the lot will be the Fiat Panda EV that will go on sale in Europe first, later this year. These concepts, according to Fiat, will bring a range of affordable EVs to the market one after the other.
VinFast begins India plant construction
Source Credit: Autocar India
Exactly 50 days after signing a comprehensive memorandum of understanding (MoU) with the Tamil Nadu government on January 6, 2024, Vietnamese electric vehicle manufacturer VinFast today had the ground-breaking ceremony of its integrated EV plant at Thoothukudi (formerly Tuticorin) in Tamil Nadu. The plant site spans 400 acres within the State Industries Promotion Corporation of Tamil Nadu (SIPCOT) industrial estate.
Bajaj Pulsar NS160, NS200 launched; prices start at Rs 1.46 lakh
Source Credit: Autocar India
Bajaj has launched the updated Pulsar NS160 and Pulsar NS200, with the former priced at Rs 1.46 lakh and the latter at Rs 1.55 lakh. This update brings some much-needed changes to the aging NS line-up in the form of refreshed styling and a new LCD dash that brings in Bluetooth connectivity.
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📰 International News
Renault unveils new R5 as it taps past success for electric future
Renault unveiled its highly anticipated new electric R5 on Monday at the Geneva Motor Show, a model directly inspired by its 1972 bestseller that the French automaker hopes will bring a major boost to its electric vehicle sales.
Renault leads Europe's EV defence in Geneva as Chinese rivals expand
Renault and China-owned MG launched new electrified cars in Europe at the Geneva car show on Monday as Chinese automakers seek to take more market share from legacy European rivals.
SAIC's MG unveils MG3 hybrid model for European market
MG Motors, a unit of China's SAIC on Monday unveiled its hybrid hatchback MG3 model for the European market, taking advantage of slowing growth demand for electric vehicles by offering a lower-emission model without the need for charging.
Mercedes Benz takes U-turn, to sell ICE vehicles beyond 2030
Mercedes Benz is one of the front runners as far as innovation in electric mobility technology is concerned. In 2021, the German marque announced that by the end of this decade, Mercedes will only sell electric vehicles (EVs) “wherever market conditions allow”. However, the carmaker’s recently held annual results conference painted a completely different picture.
BYD aims for new frontier with $233,000 sportscar
BYD’s launch of a $233,000 sports car underscores the Chinese electric-vehicle maker’s ambitions to boost its market share across the buying spectrum, and its hopes that higher returns for luxury models can lift its bottom line.
📝 GM returns to France with fully-electric Cadillac Lyriq
📝 Stellantis aims to sell up to 500,000 vehicles to Ayvens across Europe
📝 Henrik Wilhelmsmeyer is new Director of Sales & Brand at Rolls-Royce
📝 BYD unveils USD 233,450 EV to rival Ferrari, Lamborghini
📝 In China vs Europe EV battle, Renault leads latter's charge
📝 What is the Aurus Senat? The limousine gifted by Vladimir Putin to Kim Jong Un
📝 In a first, global electric car sales cross one million for first time: Report
📝 Future Ferrari cars may have driver seats that can change positions within cabin
📝 This Toyota technology can convert waste into electricity. Here’s how
📝 Electric cars to see price parity with ICE models by 2029, claims study
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