Wipro partners with General Motors, Magna to develop automotive software marketplace, SDVerse
Wipro on Tuesday announced that it has teamed up with General Motors (GM), and automotive supplier Magna to develop a B2B sales platform for buying and selling automotive software. The platform, called SDVerse, aims to revolutionize the automotive software sourcing and procurement process by providing a matchmaking platform for buyers and sellers of embedded automotive software, the company said in a regulatory filing. 

Semiconductor units to attract major subsidy
Uttar Pradesh govt has announced massive subsidies as well as exemptions for investors on setting up semiconductor units in Uttar Pradesh, under the UP Semiconductor Policy 2024.

Heavy industries ministry weighs reduction of GST on flex fuel vehicles
The heavy industries ministry is examining requests seeking reduction in GST on flexible fuel vehicles (FFVs) from the current 28%, sources said. The ministry is in consultation with various stakeholders and other government departments. Once the consultations are completed, the ministry will submit a recommendation to its finance counterpart. Thereafter, the GST Council will take a decision on the issue, a senior official said.

FADA concludes 16th edition of Vyapar in Delhi
The Federation of Automobile Dealers Associations (FADA) concluded its 16th edition of ‘Vyapar – Driving Success, Together’, in Delhi. The event brought together senior bureaucrats from the Delhi administration and ministries, eminent leaders from the automobile industry and over 150 members of FADA.

For a demerged Tata Motors, sum of parts will be greater than the whole
The demerging of Tata Motors now into two separate entities could be seen as contrary to the consolidation agenda but is part of the overarching plan to make the governance and management of group companies lighter, agile and more effective, if not with consolidation then demerger.

Tata Motors demerger a positive move, but no immediate gains seen
The demerger of Tata Motors will take around 12-15 months.

India's Tata Motors hits record high on plan to split into two listed firms
Shares of Tata Motors, India's most valuable carmaker, hit a record high on Tuesday, a day after the company said it will split into two listed firms, separating its commercial vehicle business from its passenger vehicle arm.

Popular Vehicles and Services IPO: Price band set at ₹280-295 apiece, check issue details, key dates, more
Popular Vehicles and Services IPO price band has been fixed in the range of ₹280 to ₹295 per equity share of the face value of ₹2. The Popular Vehicles and Services IPO date of subscription is scheduled for Tuesday, March 12, and will close on Thursday, March 14. The allocation to anchor investors for the Popular Vehicles and Services IPO is scheduled to take place on Monday, March 11.

MHI considers proposal to lower GST on flex fuel vehicles, but auto industry divided on the matter
New Delhi: The Centre is in discussions with the industry on the proposed lowering of the Goods and Services Tax (GST) on flex-fuel vehicles (FFVs) from the current rate of 28 per cent, but has not come to a consensus yet as stakeholders remain divided on the matter.

Stellantis, IIT Madras technical hackathon for students generates cost optimization ideas
New Delhi: Stellantis, a global mobility technology company, partnered with the Indian Institute of Technology Madras (IIT Madras) and Centre for Innovation (CFI), IIT Madras, to host a Technical Idea Hackathon. The objective was for the students of IIT Madras to demonstrate their creativity and contribute to cost optimization initiatives to drive innovation in the automotive sector.

Need for global synergy and collaboration to reach national EV goals by 2030: Dr. Hanif Qureshi
New Delhi: Global synergy and international collaboration with other countries are necessary to achieve the ambitious 49% CAGR for electric vehicles (EVs) by 2030. The Government schemes such as FAME (Faster Adoption and Manufacturing of Electric Vehicles) and the Production Linked Incentive (PLI) scheme for advanced chemistry cells are positive steps to developing a robust EV ecosystem, Dr. Hanif Qureshi, Additional Secretary for the Union Ministry of Heavy Industries, said.

Eco Mobility expands rental car services to 10 more cities
New Delhi: Eco Mobility, India’s premium car rental service provider, has launched its corporate car rental services in 10 new cities in India. Increasing the geographical reach of corporate car rental services is part of the company's overall expansion strategy, and the company hopes to cover 125 cities by the end of FY 2025. Currently, Eco Mobility offers its car rental services in 100+ cities in the country.

BYD India enters luxury E-Sedan segment with Seal, starting at INR 41 lakh
New Delhi: BYD India, a subsidiary of the world's leading New Energy Vehicles (NEV) manufacturer, has entered the luxury electric sedan segment with the launch of BYD Seal, starting at INR 41 Lakh. BYD India has opened bookings for it.

Tata Motors’s split could shift its passenger-vehicles business into top gear
Investors in Tata Motors Ltd (TaMo) appear to agree with the company’s view that two is better than one. Shares of the automaker closed more than 3% higher on Tuesday after it announced its decision to split its commercial-vehicles (CV) and passenger-vehicles (PV) businesses into two separate companies. Existing shareholders will get one share each of both firms.

Investment in manufacturing, EV, pushing Indian gears to compete globally: American Gear Manufacturers Association
India's contribution in the global electric vehicles and aerospace market in the last few years has been on the rise, with a marked increase in volume and quality of high precision gears being exported from the country, American Gear Manufacturers Association (AGMA) president President Matthew Croson told ET. Increased investment towards the manufacturing sector, both from government and private players, he added, was a major contributor towards this.

Chinese firm BYD plans to cover 90% of EV market in India this year
Homologation is the process of certifying vehicles for roadworthiness under rules specified by the government for all vehicles made or imported into the country.

Tata Motors races to new high on demerger plans
Chennai: Tata Motors’ management might have decided to demerge its passenger vehicle (PV) and commercial vehicle (CV) businesses, but most domestic analysts do not see great potential in the stock price as they see only a “limited upside” following the sharp run-up in the price recently. The stock of Tata Motors closed at ₹1,021.95 on Tuesday, up 3.52 per cent on the BSE. During the day, the stock rose as high as 8 per cent to hit an all-time high of ₹1,065.60.

Why Ford would be inclined to return to India
Will Ford Motor Company return to India remains a million dollar question ?

Shape-shifting 'L2-5' vehicle category gets road ministry green light

Vehicles of this category will come with a rickshaw-like structure devoid of a front wheel, into which an e-scooter seamlessly slots and acts as the front wheel. In this configuration, the rear wheel of the e-scooter is elevated off the ground, resting securely on the rickshaw platform. These vehicles boast a modular design, enabling them to function interchangeably as either a two-wheeled vehicle (L2 category) or a three-wheeled vehicle (L5 category).
 

Tata Motors demerger may boost focus on trucks, buses

Tata Motors' Proposal to separate its truck and car businesses into two independent, listed entities drove its stock to a 52-week high of Rs 1,065.60 a piece during intra-day trade onTuesday. The stock ended the day 3.52% up at Rs. 1,021.95 apiece. Analysts tracking the company said the demerger will drive synergies across verticals in the passenger vehicle(PV)company, and help raise focus on the high margin truck and bus (CV) business where competitive intensity is on the rise. From 44% at the end of FY18, Tata Motors's market share in the CV segment dropped to just under 38% by the end of December 2023, according to data shared by the Society of Indian Automobile Manufacturers. New launches and market expansion helped rivals — led by Mahindra & Mahindra, Maruti Suzuki, Ashok Leyland and Eicher Motors — improve their CV share. Pressure on the CV market share was offset to a certain extent by success in the car and SUV business at the standalone level, where Tata Motors dethroned Hyundai, India's second largest carmaker, in monthly sales performance. Kumar Rakesh, analyst — IT and auto, BNP Paribas, said the demerger proposal is "a strong vote of confidence by the Tata Motors board" in the turnaround of its PV and JLR business, and its sustamability. "Tata Motors is trading at an attractive FY25 E FCF yield, highest in our coverage. It is our sector's top pick," Rakesh said. BNP Paribas values Tata Motors' PV business at Rs. 583/ share and the CV business at Rs. 336/share. It further said that the company's board will likely appoint a valuation commit-tee in the coming months to determine the share ratios for the demerged entities.’ 

Demerger news drives momentum for TaMo stock, but does it promise value in the near term?
What took you so long? The demerger of Tata Motors cars (passenger vehicle) and trucks (commercial vehicle) business took a long time to get rolling but it is a huge thumbs up for the management team of the company. This is a company that has turned around and how. According to Emkay Research, the ROIC (return on invested capital) in FY24 is expected to be 25.4%, a sharp increase from 3% in FY23.

‘Achieving RoA target of 2.5% by FY25 could be a challenge’, MD and vice chairman Ramesh Iyer, M&M Financial
NBFC major Mahindra & Mahindra Financial Services (M&M Finance) will likely achieve key targets on most business parameters set under the Vision 2025 goals, but attaining 2.5% return on asset (RoA) could be a challenge, MD and vice chairman Ramesh Iyer tells Piyush Shukla in an interaction. Excerpts:

Tata Motors’ demerger is backed by a dual-lane strategy
It was common once for the word ‘conglomerate’ to be prefixed by ‘unwieldy’ and ‘unfocused’ by reflex. If that sounds strange today, then the Tata Group could claim some credit for it. Sure, survival amid competition demands an edge sharpened in focal fields of specialization, and Tata did withdraw from some markets in the 1990s (soaps and suds, for example), but its operations still span a spectrum from salt to software. Critically, the group has proven that a clutch of diverse companies can keep business risks in control well enough to enable long-horizon plans with minimal short-term pressure from investors at large. Although a recent bout of instability at the top—the Cyrus Mistry interlude—had briefly put that advantage at threat, India’s foremost conglomerate appears back in form as a strategic planner. True, the glitter of Tata’s crown jewel TCS may have dimmed a bit lately, tackling which must be top priority for group chief N. Chandrasekaran, but its proposed demerger of Tata Motors reveals an approach with its sights set on emerging paths to success.

Restructuring of Tata Motors: Will these 7 auto companies be forced to follow the same path sooner or later?
It is not every day that a large company like Tata motors goes through such a big restructuring. The more important question is whether this sort of vertical split is a company specific restructuring or this is something which indicates the beginning of a trend for many companies in the sector.

Scripting semicon success
The celebrity stratosphere to which the information technology (IT) corporate giants gravitated required a Y2K moment during the late 1990s which en masse lifted them to a new orbit of global and competitive excellence in the software services industry.

Tata Motor launches dark edition for Nexon, Nexon EV, Safari, and Harrier starting at INR 11.45 lakh
New Delhi: Tata Motors, India’s leading automobile manufacturer, unveiled the Dark edition for Nexon for both its ICE and EV offerings on Monday. The company also launched the Dark editions for the premium SUVs – Safari and Harrier. Nexon is available at a starting price of INR 11.45 lakh

Former Skoda Marketing Head Rahul Pansare joins Stellantis
New Delhi: Rahul Pansare has joined as the Group Marketing Head at Stellantis India (Jeep and Citroen brands), after working at Skoda India as its Head of Marketing for less than a year.

Hyundai Venue Executive Turbo variant launched at Rs 9.99 lakh
Hyundai has expanded its Venue variant range by launching the new Executive Turbo trim in India, priced at Rs 9.99 lakh ex-showroom. Alongside the launch of the Executive Turbo variant, Hyundai has also added more features to the Venue S (O) Turbo trim, which is priced at Rs 10.75 lakh onwards, ex-showroom.

Toyota first electric SUV in India set for 2025 launch
Toyota announced its entry into the electric vehicle (EV) space by previewing the Urban SUV concept last year. This concept is based on the same platform as the Maruti Suzuki eVX concept which is slated to take its final shape in early 2025. A recent media report has thrown more light on the upcoming Toyota electric SUV.

Aiming to retain pole position in premium EV segment, says BYD India
BYD India launched its electric sedan Seal, priced between Rs 41 lakh and Rs 53 lakh. 
 

BYD Seal EV launched at Rs 41 lakh– gets up to 650 km range
Build Your Dreams (BYD) has officially launched its third electric vehicle (EV) in India. Named Seal, the electric sedan is offered in three variants namely Dynamic Range, Premium Range, and Performance. Prices for the Seal range between Rs 41 lakh and Rs 53 lakh (both ex-showroom).

Customer demand for EVs slower than anticipated, says Mercedes Benz
New Delhi: Mercedes Benz, which recently joined a growing chorus of automakers who have delayed their internal combustion engine (IC-engine) phase out plans, said that the pace of customer demand for electric vehicles has been much slower than anticipated in India, mirroring a global trend seen in Mercedes Benz's 118 otherwise diverse and 'heterogenous' overseas markets.

Expect India to be third largest market among 118 countries: Mercedes-Benz
German carmaker Mercedes-Benz expects India to become its third biggest market in its 'Region Overseas' over the next 2-3 years with demand anticipated to remain strong for luxury products, according to a senior company executive. The Region Overseas for Mercedes Benz comprises 118 countries, excluding North America, Europe and China.

Mercedes-Benz to drive in 3 EVs this year

New Delhi: Despite the global delayin Mercedes-Benz's electrification goal—pushing the 50% electrified car sales target from 2025 to 2030—the company aims to go big on EVs within India. 

‘Electric cars make better sense than hybrids in Indian luxury car market’
German carmaker Mercedes-Benz on Tuesday said that electric cars make better sense than hybrid ones for the Indian market right now because the charging infrastructure in the country is growing.

Tata Motors’ demerger likely to lift the valuation multiple of the CV business
ET Intelligence Group: The demerger of Tata Motors’ truck business will unlock value for shareholders as it may attract a higher valuation multiple for turning into a pure-play truck business. The decision also reflects the company’s belief that the two businesses – truck or commercial vehicles (CV) and passenger vehicles (PV) -- can operate independently and generate self-sustaining cash flows.

Weak rural sentiment continues to weigh on domestic tractor sales, industry bets on strong Rabi harvest
The tractor industry in India continues to see a softening of demand on the back of not only a high base but also weakening of rural sentiments.

National Safety Week: TVS Motor Co’s Protect Little Riders campaign aims to promote adoption of helmets among young pillion riders
TVS Motor Company, a leading two- and three-wheeler manufacturer has announced its campaign, ‘Protect Little Riders’ as a part of #TVSRide4Safety initiative. This initiative aims to spread awareness on safety of children on two-wheelers and addresses barriers for adoption of helmets for young pillion riders.

World's first CNG bike launch likely in next quarter, says Rajiv Bajaj
In an interview with CNBC-TV18, Bajaj said, “The motivation is twofold. One is from the environmental perspective because now, we are well into testing, and we can observe that, compared to a gasoline motorcycle, carbon dioxide is down by almost 50 per cent, carbon monoxide is down by 75 per cent, and non-methane hydrocarbons are down by 90 per cent. So, this is a motorcycle that’s potentially great for the environment. But equally, it promises to do what Hero Honda did 40 years ago, which was effectively to double mileage or to halve the cost of fuel for the aam aadmi, which, I think, has a fantastic impact on the wallets of those consumers.”
 

Bajaj Auto share buyback: Dates, retail acceptance ratio, all details here
Bajaj Auto buyback: Bajaj Auto's ₹4,000 crore share buyback scheme opens today (March 6). As per the scheme the two-wheeler and three-wheeler maker will buy back 40 lakh shares- 1.41% of total outstanding shares at a price of ₹10,000 per share through the tender route.

2024 KTM RC and Adventure range get new colour options
Austrian motorcycle maker KTM has introduced new colour schemes for the 2024 models of the Advenyure and RC series in India. The new colour schemes do not see an increase in price, and few of the colours truly make the motorcycles stand out.

Bajaj Auto to now roll out CNG bike in 2024

Pune: Bajaj Auto will launch the world's first CNG-powered motorcycle this calendar year, instead at the end of 2025 as earlier planned. Rajiv Bajaj, Managing Director and CEO, Bajaj Auto, said the company was encouraged by the results of testing. Taking to CNBC-TVIS,
Bajaj said the driving force behind this innovation lies in reducing emissions, cutting fuel costs in half, and doubling mileage. 

Motovolt unveils multi-utility e-scooter M7 developed with German technology at INR 1.22 lakh
Motovolt Mobility Pvt Ltd, a leading electric two-wheeler company in India, Tuesday launched Motovolt M7, a multi-utility electric scooter (MUSe) at an introductory offer price of INR 1,22,000. It can be booked for INR 999.

Motovolt Mobility may look to set up manufacturing facility in South
Kolkata: Motovolt Mobility, which plans to launch more products in the electric two-wheeler segment, may look at setting up a manufacturing facility in South India. After rolling out a multi-utility e-scooter here on Tuesday, the Kolkata-based company said it is planning to launch an electric motorcycle next year. 

Electric two-wheeler sales likely to miss NITI Aayog target for FY24
Industry insiders point out that there are several reasons behind this relatively slower growth rate — like smaller start-ups grappling with making a mark in the market. Major players have struggled with FAME subsidy funds and heavy discounts
led to temporary boosts, but at the same time eroded the value of products and brands.
 

Ather picks HSBC, JPMorgan, Nomura, Indian banks for IPO, sources say
Indian electric-scooter maker Ather Energy Pvt has picked HSBC Holdings Plc, Nomura Holdings Inc. and JPMorgan Chase & Co. to help arrange its initial public offering, according to people familiar with the matter.

Ola S1 X+, S1 Air, S1 Pro discounts extended till March 31
Earlier in December 2023, Ola Electric announced a series of discounts across its entire e-scooter lineup which was expected to last till February 2024. However, the Bengaluru-based EV startup has extended this offer till 31 March 2024 which involves the S1 Air, S1 X+, and S1 Pro. Details of this offer can be found below.

Ather Energy partners with Laqshya Media Group; executes Ather Rizta XXXXXXL OOH campaign
Ather Energy collaborated with Laqshya Media Group to develop and execute the Ather Rizta XXXXXXL seat teaser out-of-home (OOH) campaign in Mumbai and Ahmedabad. As per the company, the campaign is aimed at teasing the largest seat ever built on a family scooter, featuring larger-than-life OOH installations strategically placed in key locations to capture customer attention.

Lubrizol Appoints Bhavana Bindra as Managing Director for India, Middle East & Africa (IMEA) region
The Lubrizol Corporation, has announced the appointment of Bhavana Bindra as Managing Director for the India, Middle East & Africa (IMEA) region. The company’s newly created role is to reflect its commitment to accelerating growth in this strategic market.

Plastic CNG tanks and car doors: A shift in India's automotive paradigm?
New Delhi: In an exclusive interview with ETAuto during the ACMA 9th Technology Summit 2024, on Tuesday, Laurent Favre, the CEO of the French automobile component manufacturer, Plastic Omnium, outlined the company's roadmap for the Indian market, emphasizing sustainability, circular economy practices, and the evolution of engineering plastics in the automotive industry.

Lohum strengthens management team with 3 key appointments
Lohum, one of India’s largest producer of sustainable energy transition materials through battery recycling & raw material refining, and battery repurposing, has announced the appointment of three industry stalwarts to strengthen its leadership team.

Nayara Energy exports drop 10% in 2023 as domestic demand surges
This was primarily because of larger consumption at home. The company is catering to the domestic market through institutional business, sales to other oil companies and its own retail chain.

Hardeep Singh Puri inaugurates 201 CNG stations and India’s first small-scale LNG unit
Hardeep Singh Puri, Union Minister for Housing & Urban Affairs & Minister for Petroleum and Natural Gas inaugurated 201 CNG stations of GAIL India across the country.

Global CO2 emissions reach new high in 2023; GDP growth, weak monsoon drove up emissions in India: IEA
New Delhi: The landscape of energy-related carbon dioxide (CO2) emissions continues to change. Global emissions grew by 1.1% in 2023, increasing 410 million tonnes (Mt) to reach a new high of 37.4 billion tonnes (Gt), according to the International Energy Agency (IEA).

The Smart Road Ahead: Connected cars and AI Reshaping car insurance dynamics
Our world is technologically much more advanced than before, and the automotive industry is undergoing a revolutionary transition with increasingly popular autonomous vehicles entering the market.

Hero FinCorp PAT may top Rs. 1,000 crore
New Delhi: Hero FinCorp, anarm of Hero MotoCorp, is expected to cross the Rs. 1,000-crore mark in its profit after tax (PAT) for the current financial year, which would be around a 30% rise on year, Abhimanyu Munjal,  joint MD & CEO, Hero FinCorp, said on Tuesday. The non-banking financial company (NBFC) reported PAT of Rs. 736 crore for the April-December period, 71% higher compared with the year-ago period. Assets under management (AUMs) till December stood at Rs.49,127 crore, compared with Rs.39,381 crore at the end of December 2022. "Next year, Hero FinCorp is aiming at growing it’s book size by about 35%:' said Munjal.
 

CARS24 Financial Services partners Credgenics to digitise collections process
CARS24 Financial Services, an NBFC specialising in car financing and a wholly-owned subsidiary of CARS24, India’s leading AutoTech company, has inked a strategic partnership with Credgenics, a SaaS-based debt collections and resolution tech platform.

Hyundai Venue Executive launched at Rs 9.99 lakh
Source Credit: Autocar India

The Hyundai Venue has a new mid-spec Executive variant that's priced at Rs 9.99 lakh, ex-showroom India. The Venue Executive is only available with the 120hp, 1.0-litre turbo-petrol engine and a 6-speed manual gearbox, and sits Rs 1.75 lakh lower than the Venue S(O) with the same engine.

MG Comet with faster 7.4kW AC charger launched at Rs 8.24 lakh
Source Credit: Autocar India

MG Motor India has once again rejigged the Comet line-up, and the most crucial update this time around is the addition of a faster charging option for the electric city runabout. MG has also introduced a few new features for these variants. Prices for the MG Comet now range between Rs 6.99 lakh-9.14 lakh (ex-showroom, India).

MG ZS EV Excite Pro launched at Rs 19.98 lakh
Source Credit: Autocar India

MG Motor India has added a new mid-spec variant to the ZS EV’s range called the Excite Pro. Priced at Rs 19.98 lakh, MG claims that the introduction of the new variant makes the ZS EV India’s only all-electric car under Rs 20 lakh with a dual-pane panoramic sunroof.

Going all-electric a better strategy for India than hybrids: Mercedes Benz
Source Credit: Autocar India

Mercedes-Benz announced last month that it would continue to sell combustion-engined cars – even in some developed markets – well into the 2030’s, contrary to its plan of transitioning into an all-electric brand by 2030 ‘wherever market conditions allow’.

Kia confirms Tasman pickup to rival Hilux
Source Credit: Autocar India

Kia will enter the rugged pickup market with the new Tasman that will debut globally in the coming months. After a lot of speculation, Kia finally released a teaser video in Australia confirming the pickup and the country as its first launch market. The Tasman will later go on sale internationally, sources tell us.

Jaguar to go SUV only, for now
Source Credit: Autocar India

Jaguar will end production of the XE, XF and F-Type in a matter of weeks, as its Castle Bromwich factory in Birmingham prepares to transition to production of body panels for a whole new line of vehicles. The retirement of Jaguar's two sedans and its flagship sportscar means the brand's line-up will become SUV-only, with just the I-Pace, E-Pace and F-Pace remaining on sale through 2024 in international markets.

BYD Seal launched in India at Rs 41 lakh
Source Credit: Autocar India

BYD has launched the Seal electric sedan in India at Rs 41 lakh for the entry-level Dynamic variant, going up to Rs 53 lakh for the top-spec Performance AWD variant (ex-showroom, India). The Seal is the Chinese carmaker’s third model in India after the e6 MPV and Atto 3 SUV, and will be brought in as a full import.

US considers selling Northeast gasoline reserve in 2024 in draft bill
The United States may sell its 1 million barrel Northeast gasoline reserve in fiscal year 2024, according to the draft text of a funding bill released on Sunday.

Tesla's German plant halts production after suspected arson attack
Tesla halted production at its German factory Tuesday after assailants allegedly set fire to high-voltage lines nearby, cutting power to the US electric carmaker's only plant in Europe, the company and authorities said.

Korea's Kia, Thailand in talks over building new EV facility
South Korean car maker Kia Corp is in talks with Thailand to build an electric vehicle facility in the Southeast Asian country, two government sources said on Tuesday, as the latter bids to be a top EV maker in the region.

Tesla shares skid after China sales fell to the lowest level in over a year
Shares in Tesla fell more than 7% on Monday after its sales declined in February in China, where it likely faced a slowdown during the Lunar New Year holidays.

Nikola taps auto industry veteran Thomas Okray as CFO
Nikola named former General Motors and Amazon executive Thomas Okray as its chief financial officer, the electric-truck maker said on Monday.

Frontier Lithium surges on JV with Mitsubishi for Canadian operations
Frontier Lithium has formed a joint venture with Japanese trading house Mitsubishi to help advance lithium mining and processing in Ontario, sending the Canadian miner's shares up 15% on Monday.