Top Indian Automobile Industry News & Updates - 28 Feb 2024,Wednesday
🏢 Industry
Bike taxis: A case of misconstrued interpretation
The long-standing issue of transport authorities not granting contract carriage permits to motorcycles is a case of misconstrued interpretation of the definition of ‘contract carriage’ by some transport authorities as opposed to a gap in the legislation. To resolve this issue, the Ministry of Road Transport and Highways (MoRTH) recently issued an advisory clarifying to all transport authorities of the relevant states and union territories that ‘motorcycles’ would fall within the ambit of the definition of ‘contract carriage’ under the Motor Vehicles Act, 1988 (MV Act). Considering that aggregators and taxi operators have faced difficulties in their two-wheelers being granted a contract carriage permit under the MV Act, this advisory has also drawn significant attention from aggregators who are keen to operate two-wheelers as bike taxis in various states.
ACMA EV Expo 2024: India ascends to global arena as EV manufacturing powerhouse
The 4th edition of the ACMA EV Expo, held on February 26-27, 2024, at Manekshaw Center, Delhi, served as a platform for industry leaders to share insights and strategies. The event themed ‘India the Global Manufacturing Hub for EV & EV Components’ was a joint effort to propel India to the forefront of global EV manufacturing arena.
Despite challenges, opportunities abound in automobile sector: Baba Kalyani
Pune: India has big opportunities in the automobile sector despite several changes in the sector, said Baba Kalyani, Chairman and Managing Director, Bharat Forge Ltd. From four million units, vehicle manufacturing is expected to reach 25-27 million in the next two decades, he said at an event organised by the Mahratta Chamber of Commerce, Industries and Agriculture (MCCIA) in Pune recently.
SUVs to power PV volume growth to 5-7% in FY2025 says Crisil
Passenger vehicle volume will ascend to a new peak for the third straight time next fiscal, growing 5-7% on a high base of 6-8% estimated for the current fiscal, as SUVs race ahead even as demand for cars and exports remain muted says Crisil.
IIOTM2024: India is poised to become manufacturing powerhouse: Cisco's Daisy Chittilapilly
New Delhi: India will become a manufacturing powerhouse, and the government has made aggressive plans to realise that vision, said a top executive of the US multinational Cisco Systems.
India key to Skoda Auto's global expansion, says CEO Klaus Zellmer
Mumbai: India is the most promising growth market for Skoda Auto and the country will play a crucial role in the company's international expansion, the Czech automobile firm's global CEO Klaus Zellmer said on Tuesday.
Mahanagar Gas to acquire 30.97% stake in 3EV for Rs 96 crore
Mahanagar Gas Limited (MGL) on Tuesday announced that it has entered into Shareholders’ Agreement (SHA) with 3EV Industries Private Limited to acquire 30.97 per cent shareholding in the company. “We wish to inform that subsequent to execution of Share Subscription Agreement (SSA), Mahanagar Gas Limited has entered into Shareholders’ Agreement (SHA) with 3EV Industries Private Limited (3ev), Founders, Promoters and other Shareholders of 3ev, to acquire 30.97% shareholding in 3ev,” it said in a regulatory filing.
L&T starts building team for semiconductor chip design
Larsen & Toubro (L&T) is building a team for its semiconductor chip design business, as it looks to foray into fabless semiconductor chip design and product ownership.
VinFast files patent for VF3 micro electric SUV in India
Just a couple of days after VinFast inked a Memorandum of Understanding (MoU) with the Tamil Nadu Government, there is more development from the electric vehicle (EV) brand. The Vietnamese EV manufacturer has filed a patent for the VF3 in India.
Terra Charge collaborates with GrEL Cabs for electrifying fleet services in Pune
EV charging infrastructure development company Terra Charge is collaborating with Pune-based electric ride-hailing service provider GrEL Cabs to develop a Park and Charge Facility in Hinjewadi, Pune.
Three RTOs to have automatic vehicle fitness testing centres
Eighteen regional transport offices (RTOs) in Tamil Nadu, including – Tambaram, Sriperumbudur, and Red Hills in Chennai’s suburbs– are set to get new automated vehicle fitness testing centres. This multi-crore project, forged through a public-private partnership (PPP), seeks to curb corruption.
Zoomcar partners with CleverTap to drive customer engagement
CleverTap, the all-in-one engagement platform, announces its partnership with Zoomcar, the leading marketplace for car sharing in emerging markets, to elevate user engagement and drive business growth. This strategic collaboration aims to help Zoomcar enhance its customer engagement strategy by creating personalized interactions that cater to individual preferences and needs.
PM launches TVS Mobility open network platform and CII-TVS Mobility centre of excellence
Chennai: Prime Minister Narendra Modi on Wednesday launched TVS Mobility’s open mobility network platform and CII-TVS Mobility Centre of Excellence on Employment and Livelihood in Madurai.
Mint Explainer: Why auto industry is divided on tax breaks for hybrid vehicles
Top automakers are divided on the Indian government's tax policy on hybrid cars. While Maruti Suzuki and Toyota advocate for lower taxes for hybrids to encourage their adoption, Tata Motors, Mahindra, and Hyundai argue against any preferential tax treatment for these vehicles.
Electric vehicle manufacturers in a bind over subsidies as FAME-II expires on March 31
Electric two/three-wheeler manufacturers are sitting on a stockpile of unsold vehicles for which they will not be able to claim subsidy under Faster Adoption & Manufacturing of Electric Vehicles (FAME) II, which is expiring on March 31. They have offered heavy discounts in the hope of exhausting their inventories before the March 31 deadline.
‘Very little activity on the ground,’ says Bhavish Aggarwal on Uber, replying to Dara Khosrowshahi comments
CEO of ride-hailing and cab aggregator Ola Bhavish Aggarwal said that Uber is ‘far behind in the ride-sharing business in the country,’ responding to Uber’s global CEO Dara Khosrowshahi's comment on Indian consumers, according to a report by Business Standard.
Xiaomi unlikely to launch its EV in India anytime soon but may revamp tablets, wearables portfolio
Barcelona: Xiaomi’s SU7 electric car, which it will begin selling in China this year, is unlikely to come to India anytime soon, company executives said. “Outside China, we don’t know if there are any plans," said Anuj Sharma, chief marketing officer at Xiaomi India.
📝 Ford plans to re-enter India with focus on EVs: Report
📝 Tata Group eyes mega USD 1-2 bn IPO for its EV business
📝 EV Inc plans to soup up pay engine for talent retention
📝 BYD Seal EV details revealed ahead of launch: Check range, features and specs
📝 No country other than India has better prospects for future: RC Bhargava
📝 Rapido, Ola, Uber riders rejoice: MoRTH's advisory could uplift ban on this service in Delhi, Maharashtra
📝 Auto, manufacturing, life sciences companies may offer highest pay hikes this year
📝 India closes in on Oman trade deal as Mideast ties strengthen
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🎤 Interviews & Features
New compact SUV to drive Skoda’s growth : Petr Janeba
Czech automaker Skoda Auto will introduce a new compact SUV in 2025. Made in India and for India, the sub-four-meter SUV will be manufactured on the company’s MQB-AO-IN platform. The SUV is expected to double the company’s market share after the launch. businessline spoke to Petr Janeba, Brand Director for Skoda Auto India, on the sidelines of the announcement.
📝 View: India’s EV revolution is driven from the bottom up
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🚗 Cars / SUVs
Mahindra Thar Earth edition launched at Rs 15.40 lakh— gets new colour scheme
With all the noise around the 5-door Thar, Mahindra keeps updating the existing 3-door Thar. The homegrown carmaker has now launched a new Earth Edition of the compact off-roading SUV. With prices starting at Rs 15.40 lakh (ex-showroom), the new Thar Earth Edition is based on the LX hard-top variant and available with both petrol and diesel powertrain options.
Skoda Auto India to drive in Brezza, Sonet rival in first half of 2025
The European auto major is eyeing a 5 per cent share in the Indian passenger vehicle (PV) market by 2030 for its Volkswagen family of brands. Skoda India produced 48,000 units in 2023.
Skoda Kushaq Explorer edition makes debut— off-road ready
Skoda has unveiled a special Kushaq Explorer edition which is an off-road-ready version of the compact SUV. Based on the Style trim, the features of the Kushaq Explorer edition are part of an accessory package. That said, Skoda is yet to announce the price of this special edition Kushaq.
Skoda sub-compact SUV teased, launch confirmed for March 2025
Skoda has officially confirmed the launch of a new subcompact SUV in India. In a recent media gathering, the Czech carmaker confirmed that it will be launching a new sub-4 metre SUV by March 2025 as part of its India 2.5 programme. In the same event, Skoda presented a small teaser of the upcoming crossover.
Maruti Suzuki, Union Bank of India partner for dealer financing solutions
Maruti Suzuki India today announced the signing of a Memorandum of Understanding (MoU) with Union Bank of India for Inventory Funding. This new alliance further enhances comprehensive inventory funding options for over 4,000 Maruti Suzuki sales outlets across the country.
Hyundai Creta N Line teased ahead of launch on 11 March
It was recently confirmed that Hyundai will be launching the Creta N Line in India on 11 March 2024. The Korean carmaker has teased the sportier mid-size on its social media handles ahead of its launch next month. It will be the third N Line model from Hyundai after i20 N Line and Venue N Line.
Hyundai Ioniq 5 N NPX1 concept showcased with carbon hybrid wheels
Dymag, a manufacturer of lightweight wheels for the automotive industry, and its strategic partner, composites material specialist Hankuk Carbon, together with Hyundai, have showcased an advanced all-new carbon hybrid wheel on the new Hyundai IONIQ 5 N NPX1 concept.
Volkswagen Group's Skoda eyes larger share in India with new small SUV
Volkswagen Group-owned Skoda's Indian unit on Tuesday said it will launch a small sport utility vehicle (SUV) by the second half of 2025 as it looks to take on larger rivals Tata Motors and Hyundai in the country's fastest-growing segment.
Skoda Auto to launch new compact SUV in 2025
Skoda Auto will launch a compact four-metre SUV in 2025, which will be the Czech automaker’s third India-made brand after Kushaq and Slavia. The SUV, based on the MQB-AO-IN platform, will also be a made-for-India brand, the company said, adding that it aims to double its India market share by 2026 with launches in tier-3 centres and beyond.
📝 Skoda Auto to assemble EVs in India latest by 2027
📝 Skoda to tweak products, market strategy ahead of compact SUV launch
📝 Tata Safari Pure (O) vs Mahindra Scorpio N Z8 Select: Which offers what features
📝 Skoda confirms subcompact SUV for India, will rival Tata Nexon and Maruti Brezza
📝 Mahindra five-door Thar SUV India launch timeline revealed. Check details
📝 New Ford SUV design patent filed, will rival Hyundai Creta & Kia Seltos
📝 Skoda India planning to bring back diesel engine with Superb: Details
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Electric-Cars / SUVs
Renault Kwid EV to rival Tata Tiago EV, MG Comet EV: Here’s a quick check
Recently, the updated all-electric Dacia Spring broke covers in Europe. While it may not be too relevant for the Indian market, the fact that it could be rebranded as the Renault Kwid EV in other international markets, makes it a very interesting proposition for India. In fact, the Renault Kwid on sale in India is a rehashed version of the petrol-powered Dacia Spring.
📝 Tata Punch.ev: Variant-wise features with price explained
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🚗 Luxury Cars
Celebrities who own the Mercedes-Maybach GLS 600
Celebrities are known globally for their car collection and India is no different, as popular people from cricket players to movie stars own some unique vehicles. Although two-seater sports cars are popular amongst celebrities in India, some also have sensible choices and opt for luxury, from Rolls-Royces to Bentleys.
Volvo India sees EVs accounting for a third of its sales
One-third of Volvo sales to come from EVs in 2024
The Hindu Business Line
Yohan Poonawalla acquires Queen’s Royal Range Rover
In a significant development, billionaire Indian industrialist and philanthropist Yohan Poonawalla has acquired the late Queen’s historic Range Rover. Poonawalla, renowned for his collection of historic vehicles, wasted no time in securing the royal car after its advertisement appeared online. Acting swiftly, he ensured ownership before global interest surged, with potential buyers from around the world vying for this remarkable piece of automotive history.
📝 Expect faster adoption of EVs in luxury car segment: Volvo
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⛟ Commercial Vehicles
Domestic commercial vehicle industry to see 4-7% dip in volumes next fiscal: Icra
Domestic Commercial Vehicle (CV) volumes are expected to dip 4-7% year-on-year next fiscal with high base effect kicking in, rating agency Icra said on Tuesday. The volumes are expected to remain muted through the January-March quarter on account of a perceived pause in the infrastructural activities as the model code of conduct kicks in ahead of the general elections.
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🏍 2/3 Wheelers
More Royal Enfield 650s spotted testing — Classic 650 and Scrambler 650 this time
The 650cc platform has proven itself to be reliable, powerful, and efficient for Royal Enfield, gaining global success. The platform now has four motorcycles – Interceptor, Continental GT, Super Meteor, and Shotgun – and more are on the way. The motorcycle maker has been spied testing the Classic 650 and the Scrambler 650.
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⚙ Components
Defending the drive: a closer look at brand protection in the auto parts industry
The automotive industry is no stranger to the menace of counterfeiting, a challenge that has far-reaching consequences. The proliferation of counterfeit auto parts poses significant risks to both consumers and legitimate manufacturers. According to a FICCI report, approximately 20% of road accidents in India result from counterfeit vehicle parts. Fake auto parts warehouses in Indian cities stock easily counterfeitable motorbike, automobile, accessory, and clutch parts. The report also mentions that the government lost Rs 2,200 crore in revenue due to counterfeit auto components, impacting the automotive sector. Manufacturers face significant revenue losses yearly, and combating fakes adds financial strain.
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🌇 Allied Industries
Quantum Energy partners with Battery Smart for swappable batteries
Quantum Energy, India's leading electric two-wheeler company, Tuesday announced a strategic partnership with Battery Smart. Through this collaboration, Battery Smart's network of 900+ swap stations across 25+ cities will support battery swapping for Quantum's electric scooters, enabling users to gain seamless access to fully charged batteries within two minutes, the company said.
India's Apr-Jan steel imports at six-year high as China shipments surge
India's steel imports touched a six-year high in the first 10 months of the fiscal year to March, led by Chinese shipments, and India was a net importer of finished steel, according to provisional government data seen by Reuters on Tuesday.
IIOTM2024: Accenture banks on AI-ML to deliver value to mining companies
Chennai: Dublin-based Accenture is banking on Artificial Intelligence and Machine Learning-backed future-proof tools to serve the large mining companies in India. It is spending USD 3 billion on artificial intelligence.
Can EV battery swap pick up?
Arun Sreyas of RACE Energy is shifting into high gear. The company opened its battery manufacturing plant in mid-2023. Now, Sreyas and his co-founders will soon start making autorickshaws. “The good part is we’re not just going to be a Bajaj. We’re also going to be an IndianOil for that Bajaj,” says Sreyas enthusiastically, noting the company will soon be producing both autorickshaws and the swappable batteries that will power them.
📝 Marquardt and doubleSlash launch digital key system
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🌢 Fuels, Lubricants & Charging Stations
Oil India to organise Global Partner Road Show in Abu Dhabi
In a fueling display of ambition and strategic foresight, Oil India Limited, India's oldest exploration and production company and the youngest Maharatna CPSE of India, has announced its first-ever global partner roadshow: "Confluence: Where Energy and Opportunity Converge".
Read More >>
💸 Finance & Insurance
Bank of Baroda announces reduction in car loan rates, offer period valid till March 31
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📖 Magazines News
Skoda targets 1 lakh annual sales by 2026 with new compact SUV
Skoda Auto has approved its next phase of investment for India, which will go into the upcoming compact SUV and battery electric vehicles, says Klaus Zellmer, CEO of the company. The new investment will not only lead to a 30 percent expansion of production capacity, but also expand the addressable market for the brand to almost 50-60 percent of the fast-growing passenger vehicle market in the country.
VinFast VF 3 EV SUV design patented in India
Source Credit: Autocar India
VinFast, the Vietnamese EV maker, has filed a design patent for the VF 3 in India. The small EV SUV made its international debut at the 2024 Consumer Electronics Show in Las Vegas, 6 months after it was showcased in its homeland. While the VinFast is yet to confirm it, the filing of the design patent indicates that the VF 3 could be under consideration for our market.
Production-spec Renault 5 EV revealed at Geneva Motor show
Source Credit: Autocar India
The Renault 5 EV has been unveiled in production guise at the Geneva Motor Show. This is the first model in a wave of new retro electric cars that the French carmaker will introduce over the next couple of years. Taking heavy inspiration from the 1970s original, the new road-going Renault 5 remains a faithful translation of the acclaimed concept from 2021.
Bike taxis could become legal in Delhi, Maharashtra
Source Credit: Autocar India
The Ministry of Road Transport and Highways (MoRTH) has issued an advisory regarding the legality of bike taxis in India. The advisory clarifies that motorcycles fall within the definition of contract carriages as per section 2(7) of the Motor vehicles (MV) Act, 1988.
Opinion: Now is a smart time to buy an EV… again
Source Credit: Autocar India
The Indian auto industry has never seen as much uncertainty and volatility as we have since the boom in EV popularity over the last few years. It’s not the vehicles themselves that are to be blamed, but the sheer unpredictability that has surrounded the FAME subsidy, which has been the life-blood of this emerging space. So far, we’ve seen the subsidy abruptly increased, decreased, allegedly misused, subsequently denied and everything in between. Now, there’s a new flavour of uncertainty afoot.
Skoda Kushaq Explorer Edition revealed
Source Credit: Autocar India
Skoda has showcased a special Kushaq Explorer Edition, alongside announcing its plans for an all-new compact SUV. The Kushaq Explorer Edition comes with unique outdoorsy cosmetic elements and more equipment on the interior, and is based on the top-spec Style trim. However, there’s no word about it being introduced in the market yet.
Ineos Fusilier electric SUV revealed
Source Credit: Autocar India
Ineos has revealed the Fusilier as a smaller sibling to the Grenadier, bringing the option of pure-electric power and claiming "world-class off-road capability". This is 4x4 company’s third model, after the Grenadier SUV and Quartermaster pick-up.
BYD Seal U SUV makes Geneva Motor show debut
Source Credit: Autocar India
BYD has showcased the Seal U SUV at the Geneva Motor Show 2024, making it the second body style in the Seal line-up after the sedan. BYD is the world’s biggest manufacturer of plug-in hybrids (PHEVs) and EVs, having sold 1.8 million vehicles in 2022 and over 3 million in 2023.
VinFast Klara S electric scooter patented in India
Source Credit: Autocar India
About 50 days ago, Vietnamese EV manufacturer VinFast signed an MoU with the Tamil Nadu government, which was swiftly followed by a ground-breaking ceremony for a 400-acre EV manufacturing plant at Thoothukudi in Tamil Nadu on February 25, 2024. Now, the company has registered a design patent for one of its electric scooters in India.
Mahindra Thar Earth Edition launched at Rs 15.4 lakh
Source Credit: Autocar India
Mahindra has launched the Thar Earth Edition with prices ranging from Rs 15.4 lakh-17.6 lakh (ex-showroom). The special edition costs Rs 40,000 more than the LX trim on which it is based. The SUV is limited only to the 4x4 models and while it remains mechanically unchanged, read on to know what's new.
Skoda compact SUV India launch confirmed for March 2025
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📰 International News
Koenigsegg Automotive opens exclusive showroom in London
Swedish performance carmaker Koenigsegg has opened an exclusive showroom in London. Located at 375 Kensington High Street. The flagship facility marks a milestone in Koenigsegg’s global expansion strategy, innovation and performance.
Micron starts mass production of memory chips for use in Nvidia's AI semiconductors
Micron Technology has started mass production of its high-bandwidth memory (HBM) semiconductors for use in Nvidia's latest chip for artificial intelligence, sending its shares up more than 5% on Monday.
Japan's Kobe Steel eyes auto panel JV with China Baowu
Kobe Steel, Japan's third-biggest steelmaker, said it aimed to expand its automotive aluminium panel business in China through a joint venture with China Baowu Steel Group as a shift to electric vehicles drives demand for new cars.
China’s EV champion is coming for your gas powered cars, too
Competition in China’s car market is getting even more intense. That means cheaper Chinese electric vehicles. It is also terrible news for China’s competitors abroad.
Chinese EV maker Nio announces tech licensing deal with Forseven
Chinese electric vehicle maker Nio Inc's subsidiary NIO Technology (Anhui) Co has entered into a technology licensing deal with Forseven Ltd, a unit of Abu Dhabi-based CYVN Holdings, Nio said in a Hong Kong stock exchange filing on Monday.
Elon Musk reacts in is own trademark style after Apple cancels electric car ambitions
Billionaire Elon Musk on Wednesday reacted in his own trademark style after Apple Inc. scrapped a decadelong effort to build an electric car, abandoning one of the most ambitious projects in the history of the company.
📝 Schaeffler to build new facility for e-mobility solutions in US
📝 US takes lead as top supplier to Europe for crude, diesel and LNG
📝 Bridgestone to focus only on premium passenger car tyre business in China
📝 Europe automakers will not challenge 2035 fossil-fuel car ban, industry group says
📝 McLaren reveals new Artura Spider with convertible hybrid powertrain
📝 Harman Works With Qualcomm to launch Ready Connect 5G TCU for connected cars
📝 Fiat reveals next steps in the creation of new product lineup
📝 Racing Green becomes most popular Aston Martin colour choice of new car buyers after F1 success
📝 Faraday Future plans second reverse stock split in five months
📝 Global automakers scale back electric vehicles, turn towards hybrids
📝 China's BYD lands auto shipment in car powerhouse Germany
📝 Maserati transfers Korean operations to Maserati Korea
📝 Hyundai Motor Group Metaplant America production to start in Q4 2024
📝 In China vs Europe EV battle, Renault leads latter's charge
📝 Daimler Buses to showcase eCitaro G fuel cell bus at mobility move 2024 in Berlin
📝 Israeli battery tech startup Addionics to build USD 400 mn U.S. plant
📝 BYD’s floating car takes centre stage at Geneva Motor Show. Check details
📝 Xiaomi SU7 Max EV, with 1,200-km range, makes debut at Mobile World Congress
📝 BMW under legal trouble: Investigation reveals emissions cheat device in X3 SUVs
📝 Volkswagen to recall over 260,000 vehicles in US. Check details
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