Top Indian Automobile Industry News & Updates - 07 March 2024,Thursday
🏢 Industry
Tata Motors shares end marginally lower at Rs 1,017
Tata Motors shares continue to hit upper circuit after company’s board of directors approved a plan to demerge the automaker into two separate listed entities. One of these companies will handle Tata’s commercial vehicles business, leaving passenger vehicles businesses, including the conventional internal combustion engine vehicles, electric vehicles, and the Jaguar-Land Rover division for the other.
Moody’s affirms Tata Motors’ Ba3 corporate family rating
Rating agency Moody’s on Wednesday said it has affirmed Tata Motors’ Ba3 corporate family rating while maintaining a positive outlook on all ratings.
Mitsui’s Nobuyoshi Umezawa joins EKA Mobility as chief strategy officer
Pune: Nobuyoshi Umezawa joins EKA Mobility as Chief Strategy Officer, bringing extensive international business experience to drive strategic growth. According to a press release, Umezawa began his professional career in 1996 with Mitsui & Co. Ltd, where he played a key role in various infrastructure and mobility projects throughout Europe, the Middle East, Africa, Russia, and elsewhere.
Women at the helm of auto industry – challenges and opportunities
New Delhi: The auto industry has been actively embracing new technologies in recent years, driven by the increasing demand for innovation, efficiency, and sustainability.
Israel’s Tower’s chip project to be approved after polls
Israel-based Tower Semiconductor’s $11-billion (Rs 91,000-crore) fabrication project, is now likely to be approved only after the general elections, official sources said.
Chennai brains to lead Ford's global AI drive; Group on hiring spree
FBS, which oversees the global capabilities of the company through its 12,000 employees in Tamil Nadu, is all set to hire 3,000 more in the next three years at its Global Technology and Business Center in Chennai, a senior executive from Ford’s global team told Business Standard.
Leader in automobile manufacturing
A Giant Leap
Ministry weighs reduction of GST on flex fuel vehicles
Dholera chip fab: India's leap into electronics manufacturing
New Delhi: A semiconductor chip fabrication factory, or fab, in Gujarat's Dholera will mark a significant stride towards achieving the goal of fully Made-in-India electronics appliances, according to industry experts.
📝 Bentley unveils first bespoke limited edition in India
📝 Popular Vehicles and Services to float IPO on Mar 12
📝 M&M promoter group entity initiates sale of shares; sale will reduce promoters’ stake to 18.57% from 19.32%
📝 A mini industry spawns under the hood of a booming car market
📝 Global SUV trend may soon see a shift. Here’s why
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🎤 Interviews & Features
CEO's Take On 2024: Tyre industry to build green and digital capabilities to be globally competitive, says Arnab Banerjee, MD & CEO, CEAT Ltd
The excerpts:
Opinion: Can e-mobility become new normal; EVs have to be the choice, not an alternative
New Delhi: New norms need behavioural shifts. For a norm like electric mobility to establish a base and avoid a demand plateau, where demand growth tapers off, it needs to change the way people interact and integrate with it, especially in their daily lives. It is only then, a disruptive norm is not just blip in the timeline that fizzles out but becomes a way of life.
📝 Hyundai's CSR in action: Livelihood for Chenchu tribe, adoption of ponds in addition to EVs
📝 Drive the future of auto tech forward with this Nexus at University of Michigan's programme in Automated & Electric Vehicles
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🚗 Cars / SUVs
Skoda to rival Nexon, Brezza in 2025: What to expect?
Skoda has unveiled its latest strategy on how it plans to double its sales numbers by 2026 in India. The Czech-based automobile manufacturer is looking to hit the magic 100,000 units and the secret sauce will be the launch of the new sub 4 metre compact SUV next year. With the SUV class constituting almost 50 per cent of the market share, Skoda will be introducing its second made-in-India SUV next year. Here’s all you need to know about Skoda’s Nexon rival.
Maruti Suzuki Jimny discount: Up to Rs 1.5 lakh available in March
Maruti Suzuki continues to offer discounts on the Jimny worth up to Rs 1.5 lakh on the MY2023 version. The company is trying to clear out its last year’s stock. The 2024 Jimny is priced from Rs 12.74 lakh to Rs 14.79 lakh, ex-showroom.
Hyundai Venue expands lineup with Executive Turbo variant, S(O) trim gets sunroof: All details
Hyundai Motor India Limited (HMIL) has introduced a new variant to its popular Hyundai Venue model. The Executive Turbo variant of the Hyundai Venue comes at a starting ex-showroom price of ₹9,99,990.
New Hyundai Creta N Line interiors officially revealed
Hyundai has unveiled the performance-inspired interiors and technology features in the Hyundai Creta N Line. Drawing inspiration from the urban lifestyle and the spirit of the outdoors, the Hyundai Creta N Line is a more performance-oriented version of the regular Creta.
Need some clarity on policy before making fresh investments: Skoda
Mumbai: Skoda Auto's Future investments and course of action in India will be determined by the decisions taken by the government on vehicle technology, allowing it to carry out efficient product planning. The Czech car brand is finalising the next package of investments for its operations in the country, which will not just take care of its planned foray into electric vehicles but also power its ambitions in the internal combustion engine space.
📝 Honda Elevate, City & Amaze available with benefits of up to ₹1.20 lakh
📝 Toyota RAV4 hybrid SUV spotted testing in Delhi. Launch soon?
📝 Hyundai Creta vs Toyota Hyryder: Japanese vs Korean rivalry
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Electric-Cars / SUVs
MG Comet EV gets two new variants with fast charging option
MG Motor India is doing everything possible to bring in more customers to its showrooms. After slashing down prices of its entire portfolio, MG is now making crucial updates to its lineup. The Chinese-owned British brand has now launched two new variants of the Comet EV named Excite FC and Exclusive FC.
MG Motor India's Comet EV gets fast-charging boost with revised prices: All you need to know
MG Motor India has introduced significant updates to its entry-level electric vehicle, the Comet EV, by incorporating fast-charging capabilities.
BYD receives 200 bookings for Seal electric sedan in India
BYD launched the Seal electric sedan yesterday at an offensive introductory price of Rs 41 lakh (ex-showroom). The Chinese EV brand has now announced that it has received over 200 bookings in the span of less than 24 hours.
BYD Seal EV launched in India: Top 5 highlights
Build Your Dreams (BYD) officially launched the Seal EV in India yesterday at a competitive introductory starting price of Rs 41 lakh (ex-showroom). It is the third battery-powered passenger vehicle from the Chinese brand in India. Bookings of the coupe electric sedan are currently underway at a token amount of Rs 1 lakh, both online and at BYD’s dealerships.
📝 BYD Seal vs Hyundai Ioniq 5 vs Kia EV6: Specifications, prices compared
📝 MG Motor India strengthens EV Portfolio; makes ZS EV and Comet more accessible
📝 Why India is in love with hybrid cars?
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🚗 Luxury Cars
📝 Global EV growth lags, Mercedes adjusts strategy for Indian market
📝 Bugatti CEO's reply to Elon Musk's Tesla Roadster 0-96.5 kmph in under one second claim: Details
📝 Jaguar's electrifying leap: Luxury car maker shifts gears towards greener future
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⛟ Commercial Vehicles
Atul Auto expands electric venture with INR 19.99cr investment in subsidiary
New Delhi: In a strategic move towards bolstering its presence in the electric vehicle (EV) sector, Atul Auto Limited has invested INR 19.99 crore in its subsidiary, Atul Greentech Private Limited (AGPL).
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🏍 2/3 Wheelers
2024 KTM RC and Adventure series — What’s new?
KTM has updated the 2024 RC range and the Adventure range, making them more appealing. With these updates, the entire KTM range, including the Duke, RC, and Adventure has been updated for 2024. Let’s take a deeper look at what’s changed with the 2024 RC and Adventure lineup for this year.
📝 Bajaj Auto may further up it stake in e-mobility co Yulu
📝 Norikatsu Ishida, Director, Samvardhana Motherson International, resigns
📝 Bajaj Pulsar NS125 vs Hero Xtreme 125R vs TVS Raider 125: Which one is your pick
📝 Bajaj Auto fast-tracks plans to launch CNG motorcycle, to arrive in next quarter
📝 Bajaj Pulsar NS160 vs TVS Apache RTR 160 4V vs Hero Xtreme 160R 4V: Comparison
📝 Kawasaki Ninja 400, Versys 650, Ninja 650 & Vulcan S get discounts up to ₹60,000
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🚲 Electric 2/3 Wheelers
Quantum Energy inaugurates new showroom in Gurugram
Quantum Energy has announced the inauguration of its new showroom in Gurugram, Haryana. This new addition marks the company’s first EV two-wheeler showroom in the state, further expanding Quantum Energy’s presence.
Motovolt Mobility bets big on newly launched e-scooters
New Delhi: City-based Motovolt Mobility is betting big on sales of its newly launched e-scooters for both passenger and cargo transportation in the country, a top company official said. The multi-utility e-scooter, manufactured at its Taratola factory, was launched on Tuesday.
Komaki Flora electric scooter launched at Rs 69,000
Komaki Electric has relaunched the Flora electric scooter, priced at Rs 69,000. The Flora gets a Lithium Ion Ferro Phosphate (LiFePO4) battery pack, which is removable, making it convenient to charge, while offering a range of 85 to 100km on a full charge.
📝 Okaya EV introduces Ferrato brand for premium 2W products
📝 Ampere sets new records with upcoming electric scooter, pre-bookings open at ₹499
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⚙ Components
ACMA hosts 58th edition of Excellence Awards and 9th Technology Summit
The Automotive Component Manufacturers Association of India (ACMA) successfully organised the 58th edition of the ACMA Excellence Awards & 9th Technology Summit on March 5, 2024.
Sumitomo Wiring Systems Japan sells 4.43% shares in Samvardhana Motherson, looks to exit over medium to long-term
Sumitomo Wiring Systems, Japan (SWS) and H. K. Wiring Systems, a subsidiary of SWS, who jointly held 14.32% equity share in Samvardhana Motherson International (SAMIL), has announced that it has sold 30,00,00,000 shares amounting to 4.43% shares in SAMIL.
Motherson tanks 6% as promoter sells 4.4% stake; to dilute holding further
With this, SWS and its arm HK Wiring Systems' joint stake in Motherson has been reduced to 9.89 per cent from 14.32 per cent earlier, it said in a filing.
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🌇 Allied Industries
How FCEVs can be long-term bet for greening heavy vehicle segment
FCEVs provide certain advantages over BEVs in the heavy trucking segment, which warrant their consideration for sustainable mobility. They include a higher range, shorter charging times as well as lower weight penalty. However, one key constraint which has impacted the adoption of fuel cell vehicles has been the higher upfront costs than the ICE as well as BEV vehicles.
Exide Industries further invests nearly Rs 40 cr in advanced chemistry battery cells making arm
Exide Industries further invests nearly Rs 40 crore in advanced chemistry battery cells making arm
The Financial Express
Ceat’s focus on tech could offer it an edge versus competitors
📝 MRF announces price cut of INR 350 on 'Steel Muscle' truck tyre
📝 Touchscreens might increase car accidents: Physical buttons imp to score safety crash test points
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🌢 Fuels, Lubricants & Charging Stations
Tata Power crosses 1,000 green energy powered EV charging stations milestone in Mumbai
Tata Power, one of India’s largest integrated power companies and electric vehicle charging solutions providers, has achieved the milestone of having over 1,000 EV charging points in Mumbai powered by green energy.
OPEC expects share of Indian oil imports to rise again
OPEC is set to win a bigger share of India's oil imports in coming decades due to the proximity of its supplies, the producer group's head told Reuters, after its dominance was recently eroded by competition from discounted Russian oil.
Jio-bp partners Hiranandani Group to set-up EV chargers at its properties across India
Jio-bp, the fuel retail joint venture of Reliance Industries and bp has announced a partnership with House of Hiranandani to set up electric vehicle (EV) charging infrastructure at their properties across Mumbai, Hyderabad, Chennai, and Bengaluru.
CNG rates slashed in Delhi-NCR by Rs 2.5; effective from March 7
CNG prices in Delhi-NCR: Indraprastha Gas slashes natural gas prices by ₹2.5 per kg. Check details
mint
📝 India turns cautious on contracted Russian oil as US sanctions bite
📝 Share of Russian crude in India's imports up at 32% in February
📝 IOC to make fuel for Formula 1 - first by an Indian firm
📝 CNG becomes cheaper in Mumbai. How much it costs in other metro cities?
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💸 Finance & Insurance
Revamp Moto partners LoanTap, Bajaj Finserv and SBI for EV retail finance
Revamp Moto, a modular electric two-wheeler manufacturer in the country, has partnered with two-wheeler loan providers LoanTap, Bajaj Finserv, and State Bank of India (SBI) to introduce diverse financing options for its latest e-scooter.
Hero FinCorp’s PAT may cross Rs 1,000 crore in FY24
Hero FinCorp, an arm of India’s largest two-wheeler manufacturer, expects to “hopefully” cross the Rs 1,000 crore mark in profit after tax (PAT) in the current financial year, which would be about a 30% rise on year, the company’s management told reporters on Tuesday.
📝 Mahindra Finance aims to nearly double non-vehicle loan book in FY25
📝 Buy your car with a credit card, save 4-11% on costs
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📖 Magazines News
Hyundai Creta N Line prices to start at around Rs 20 lakh
The Hyundai Creta N Line will be an important addition to the Creta line-up; a new halo model for the benchmark in the segment. In the run up to its launch on March 11, our dealer sources have suggested that the Creta N Line will be priced about Rs 60,000 more than the regular Creta, depending on the trim. This hints at a price of about Rs 20.5 lakh for the top-spec Creta N Line.
BYD Seal EV receives 200 bookings
BYD’s third product for India, the Seal EV was launched yesterday, with prices starting at Rs 41 lakh (ex-showroom). The Chinese brand has now revealed that it has received 200 bookings for the electric sedan.
Toyota mini-Fortuner global debut this year, likely to be called FJ
Source Credit: Autocar India
Toyota has begun work on an all-new rugged SUV that will be positioned as a slightly smaller and affordable alternative to the popular Fortuner. This new SUV is expected to debut globally debut by the end of this year, and go on sale in Thailand first.
Euro NCAP to award higher safety rating to cars with fewer screens
Source Credit: Autocar India
Touchscreens in cars were quite a novelty when they were first introduced, but in just a few years, they have completely taken over car interiors. In recent years, carmakers have been cramming even the most basic operations into touch panels, and more often than not, the usability and functionality has gone south.
New Dodge Charger goes EV, ditches V8 for 6cyl turbo-petrol
Source Credit: Autocar India
The eighth-generation Dodge Charger has been unveiled, dropping its long-running Hemi V8 engine for a choice of straight-six or battery-electric power.
Hyundai Creta N Line interior revealed
Source Credit: Autocar India
Shortly after previewing the exterior design of the Creta N Line, Hyundai has now released the first interior image of the upcoming SUV. Unsurprisingly, like the existing N line models, the dashboard has been carried forward unchanged from the regular Creta, along with the equipment list from the top-spec SX(O) trim.
New L2-5 category for convertible 2/3 wheelers proposed
Source Credit: Autocar India
Paving the way for a new category of convertible two-wheeler and three-wheeler vehicles, the government has issued draft rules to amend the Central Motor Vehicles Rules, 1989. This is in order to introduce a category of three-wheeled vehicles with a two-wheeler, three-wheeler combination module known as “L2-5.” A convertible two-wheeler and three-wheeler vehicle is a three-wheeled model, which can be converted into a scooter and vice versa, as per user requirements.
Up to Rs 79,000 off on Maruti Grand Vitara hybrid this month
Source Credit: Autocar India
Maruti Suzuki has been offering buyers tempting benefits for the past few months, with some of its popular models like the Fronx, Grand Vitara and the Jimny still getting discounts as part of Maruti Suzuki’s aggressive sales strategy for its premium Nexa range.
Kawasaki Ninja 650, Versys 650 get up to Rs 45,000 off this month
Source Credit: Autocar India
Kawasaki is offering discounts on a selected number of models in its line-up ranging from Rs 20,000-60,000. These offers are available on multiple twin-cylinder models in the company's portfolio.
Husqvarna Svartpilen 801 global unveil on March 19
Source Credit: Autocar India
Husqvarna has teased the Svartpilen 801 ahead of its global reveal on March 19. The Svartpilen 801 is based on the KTM 790 Duke platform and will share most of its underpinnings with its Austrian counterpart, albeit with a few differences.
BMW XM review: Wild Hybrid
Source Credit: Autocar India
Heads turn. Eyes widen. Jaws drop. The sight of a low-slung supercar usually has that effect. Today, however, is unusual. The reactions to the vehicle I’m commandeering are the same, but my vantage point on the other side of the windscreen is well clear of the ground. I’m in the hulking BMW XM, an SUV with a Master's in shock and awe.
Over 80,000 electric scooters sold in February 2024
Source Credit: Autocar India
Electric two-wheeler manufacturers sold 81,963 units in February 2024, which is 36 units more than January 2024 (81,927 units). In a field comprising nearly 170 players, six manufacturers continue to be the market leaders – Ola Electric, TVS Motor Co, Ather Energy, Bajaj Auto and Greaves Electric-Ampere Vehicles – and accounted for 71,428 units or 87 percent of the total sales. Interestingly, all of them other than Bajaj Auto have their manufacturing plants in Tamil Nadu.
Updated Triumph Speed Triple 1200 RS spotted testing
Source Credit: Autocar India
An updated version of the Triumph Speed Triple 1200 RS has been spotted testing overseas. The spy shots show a few mechanical updates like updated suspension and a racier/more aggressive/sportier riding posture.
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📰 International News
Toyota confirms USD 2 bn investment in Brazil by 2030
Japanese auto maker Toyota officially announced on Tuesday an 11 billion real (USD 2.22 billion) investment in Brazil, saying it will be made in two parts by 2030, and include the output of a new vehicle specially designed for the country's costumers.
German police authenticate letter from group claiming responsibility for Tesla arson
German police believe a letter by a far-left group claiming responsibility for an arson attack that forced Tesla's European Gigafactory to shut down is authentic, a spokesperson for police in the state of Brandenburg said on Wednesday.
China's EV bosses take spotlight at political meeting as priorities shift
Chinese electric vehicle makers made a strong showing at the start of the country's annual parliamentary meeting on Tuesday, bolstered by official recognition of their growing clout on the world stage as they asked for more regulatory support to become global brands.
BYD deepens EV price war in China with latest cut for its cheapest car
Chinese electric vehicle giant BYD on Wednesday added fuel to the flames of a brutal price war in China by cutting the price of its cheapest car, the Seagull, by 5%.
Tesla halts production at German facility after suspected arson attack, Elon Musk says act ‘extremely stupid’
American electric vehicle maker Tesla had to halt production at its German factory after electrical cables powering the plant were set on fire in an alleged act of ‘sabotage’ by far-left group ‘Vulkangruppe Tesla Abschalten’, or ‘Volcano group shutting down Tesla’, which claimed responsibility according to Reuters.
Waymo robotaxi to begin driverless services for employees in Austin
Alphabet's Waymo said on Tuesday it will begin driverless passenger services for its employees in Austin, Texas starting Wednesday.
Tesla labour dispute triggers Nordic sympathy strikes
A dispute between Tesla and Sweden's IF Metall has drawn in unions across the Nordics, all urging the electric vehicle (EV) maker to sign a collective bargaining agreement.
Tesla Superchargers aren’t just for Tesla's anymore. I put my Ford EV to the test
The Blacklisted Component That’s Disrupting the Luxury-Car Market
📝 US court sides with Apple, Tesla, other tech companies over child labor in Africa
📝 Chinese EV maker Aiways talking to investors for export-only approach
📝 UK new car sales log best February in two decades, industry body says
📝 BYD spearheads Chinese electric car push in Australia, a friendlier market
📝 Volkswagen partners with SIXT; opens Elli charging network to external partners
📝 EU set to allow possible retroactive tariffs for Chinese EVs
📝 Audi charging hub in Frankfurt is easy, fast, and without barriers
📝 Forvia Hella receives series orders for digital Smart Car Access system
📝 Toyota acquires Primearth to strengthen EV battery mass production capabilities
📝 Toyota C-HR Plug-in Hybrid 220: A concept car for the road, with a dual DNA
📝 Big screens in cars may soon become a thing of past. Here’s why
📝 Toyota bets big on hybrids in Brazil with $2.2 billion plan
Read More >>
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