Popular Vehicles skids 6% on listing day
The stock of Popular Vehicles and Services Ltd made a weak debut on Tuesday and ended with a discount of over 6 per cent from the issue price of ₹295. Shares of the company started the day at ₹292, down 1 per cent from the issue price on the BSE. During the day, the stock tumbled 10.88 per cent to ₹262.90. It finally ended at ₹276.25, a decline of 6.35 per cent. On the NSE, the stock listed at ₹289.20 and ended at ₹276.45. About 3.82 lakh shares were traded on the BSE and over 45.18 lakh shares on the NSE during the day.

Tesla Autopilot-like autonomous driving tech for India under way in Bengaluru
The indigenous technology development, using only cameras and advanced computing, is being done by a team of 20 engineers in Bengaluru. The start-up plans to double the team size in the next four months. Minus Zero’s nature-inspired AI technology uses eight to twelve cameras, depending on the vehicle size, to allow autonomous driving.

Tata Motors inaugurates fifth Vehicle Scrapping facility Re.Wi.Re in Delhi-NCR
Tata Motors, one of India’s leading automobile manufacturer has inaugurated its fifth Registered Vehicle Scrapping Facility (RVSF), near Delhi.

Middle-aged and millennials drive EV demand, says Deloitte study
So you thought that alternative automotive technology is a Gen Z thing? In reality that may not be true. According to the Global Automotive Consumer Study by Deloitte, the demand for electric vehicles in India is highest in the 35 years and above age group.

Popular Vehicles and Services shares list at 2% discount to IPO price
Shares of automobile major Popular Vehicles and Services made a muted start after listing on Tuesday (March 19) at 1.97 per cent discount at Rs 289.20 on NSE as against an offer price of Rs 295. The share made its debut on BSE at Rs 292, down 1 per cent. A special pre-opening session was arranged for this listing.

Japan’s auto industry consolidates further with Honda, Nissan alliance
New Delhi: The recent joint announcement by Honda and Nissan to explore working together marks yet another step forward in the consolidation of Japan’s auto industry.

Tata Sons, TVS Motors and five others join to float Indian quality foundation for global edge
New Delhi: A consortium of seven leading Indian companies, including Tata Sons, TVS Motor Company and Sun Pharma, on Tuesday launched the Indian Foundation for Quality Management, a not-for-profit company with an aim to foster a culture of quality and innovation within Indian businesses. Other members of the consortium are Motherson Group, Bharat Forge, Boeing India, and Biocon. The initiative under the Indian Foundation for Quality Management (IFQM) aims to propel the "Make in India" brand on the global stage, a statement by IFQM, a Section 8 not-for-profit company, said. TVS Motor Company Chairman Emeritus Venu Srinivasan, who is the Chairman of IFQM, Tata Sons Chairman N Chandrasekaran, Sun Pharma Managing Director Dilip Shanghvi and Soumitra Bhattacharya, CEO (IFQM), are the Board members of IFQM, it added.

Jindal Stainless to supply stainless steel for JBM Auto’s e-buses
Jindal Stainless, one of India’s largest stainless steel manufacturer has partnered JBM Auto, a leading electric bus manufacturer, for fabrication of over 500 energy-efficient and light-weight stainless steel e-buses.

Visteon CEO says EVs will become power suppliers
Electric vehicles are already far cheaper to run than vehicles with internal combustion engines. Now, imagine your electric car making enough electricity to pretty much pay for even that running cost!
 

Car dealers say inventory impacting margins but car makers contest, claim situation not as adverse
Car sales are scaling new records every day but passenger vehicle dealerships, especially in the mass-market product segment are concerned about inventory buildup affecting margins. Dealers and manufacturers seem to be at odds in terms of reading the current sales trend and its impact.

New EV policy on the right track
The new e-vehicle policy announced by the government heralds a significant strategic shift in India’s EV landscape, underlined by its robust investment framework and stringent manufacturing timelines. Such a policy thrust is needed for tapping the huge potential of India’s EV industry, estimated at $2-3 billion in 2023 and likely to catapult to around $100 billion by 2030. Accordingly, the policy mandates a minimum investment threshold of ₹4,150 crore with no upper limit on investment and fosters a conducive environment for both domestic and foreign players.

American digital automotive marketplace ACV Auctions enters Indian market with Chennai tech centre
ACV Auctions, the $481-million US-based digital automotive marketplace for car dealers and commercial partners, has entered the Indian market with its technology development centre in Chennai. It has started the centre with 15 employees and plans to end the year with around 100 employees, according to the company’s Chief Operating Officer, Vikas Mehta.

CEO’s Take On 2024: Auto industry moves to sustainable luxury with key role for EVs, says Bipul Chandra, MD, Ducati India
The excerpts:

Tesla at ₹40 lakh: Will EVs now come roaring in?
In a surprise move, the government brought in a new EV policy on Friday slashing import duties on electric cars to 15% just before the Model Code of Conduct came into force. Mint looks at how it can potentially change the dynamics of the industry in the country.

Opinion: What the new E4W policy offers to OEMs, Consumers
In a bold endeavour to position itself as a global manufacturing powerhouse for electric vehicles (EVs), India has launched a policy to foster domestic production by harnessing its manufacturing prowess to drive innovation, economic growth, and sustainable mobility solutions.

'We are focusing on creating an ecosystem': Balbir Singh Dhillon, head, Audi India

What does Audi’s remarkable 89%growth last year say about the shifting trends in India's automobile industry?

Maruti Suzuki automates its first driving test track
Maruti Suzuki India has completed its first automated driving test track (ADTT) at the Driver Training and Testing Institute (DTTI) in Ayodhya, Uttar Pradesh (UP). Dayashankar Singh, Minister of State (Independent charge) of Transport, UP inaugurated the Ayodhya ADTT.

Top 5 best-selling Hyundai vehicles in February 2024
In the last few months, Hyundai saw Tata Motors taking over second place in automotive sales, as the Nexon proved to be a popular product amongst customers, as Creta’s sales dwindled. However, with the launch of the new Creta, Hyundai has claimed its place again and the Creta has outsold the Nexon. Here are the top 5 best-selling vehicles for Hyundai in February 2024.

Skoda sub-4 metre SUV spied for first time— India launch next year
Earlier last month, Skoda in its annual conference confirmed the development of a subcompact SUV for the Indian market. The SUV has reportedly been spotted testing on Indian roads for the first time. This will be the next big launch by the Czech carmaker in India and its big return to the sub-4 metre passenger vehicle segment.

MG Comet sees no production days since June 2023 as monthly sales also could not pick up
New Delhi: The smallest car of India, MG Motor’s electric car ‘Comet’, is dwindling. It recorded production of only 3,052 vehicles between April 2023 and February this year, and sold only 1,914 units till now.

Volvo XC40 Recharge Single motor bookings open
Volvo India has opened the booking of the XC40 Recharge Single exclusively online. Customers can log in to Volvo India’s official website and book the EV SUV at Rs 1 lakh. The XC40 Recharge is the third electric vehicle from Volvo which is being assembled at the Hosakote plant in Bengaluru, Karnataka, after the XC40 Recharge twin motors and the C40 Recharge. 

Audi Q6 e-Tron makes global debut: All you need to know
The much awaited Audi Q6 e-Tron has finally broken covers. An all-electric equivalent to the Q5, the Q6 e-Tron is the first production model from Audi to be built on the Premium Platform Electric (PPE). It will be available in both the standard Q6 e-Tron and the coupe Q6 e-Tron Sportback derivatives.

BMW 620d M Sport Signature launched in India at INR 78.9 lakh
The BMW 620d M Sport Signature launched in India on Tuesday is available at an ex-showroom price of INR 78,90,000. Locally produced at BMW Group Plant Chennai, the car is available in the diesel variant as well, and bookings can be made at all BMW India dealerships, the company said.

Audi plans 20 new models in 2 years, charts €41-billion investments in 5 years
Ingolstadt: Audi plans a major product offensive plan for the next two years and a massive capex programme for five years as the German luxury car maker seeks to sustain double-digit growth in the near term and drive a transition towards a full-electric model portfolio.

JBM Ecolife Mobility secures contract to operate 1,390 e-buses for PM-eBus Sewa Scheme
JBM Ecolife Mobility, a subsidiary of JBM Auto Limited, has clinched a contract to operate 1,390 electric buses under the PM-eBus Sewa Scheme.

Bengaluru start-up Minus Zero partners Ashok Leyland to deploy autonomous trucks
Bengaluru-based autonomous driving technology startup Minus Zero has announced a strategic alliance with Ashok Leyland, one of the country’s leading commercial vehicle manufacturers.

Bajaj CNG bike spotted, launching soon
The CNG revolution will reach new heights when Bajaj will launch the country’s first CNG-powered two-wheeler. Recently, Bajaj Auto CEO, confirmed that the company will launch the CNG bike this year. We expect the upcoming CNG motorcycle to hit the market around June this year.

Triumph lists Daytona 660 on India website: What to expect?
Ever since its global launch in January 2024, Triumph India has shared a post of the new Daytona 660 on its social media handles. The Daytona nameplate will soon make its comeback in India. 

Ather Energy all set to expand its presence in the family scooter segment
This is a strategy to mark its presence in the segment, which contributes 83 per cent of the total two-wheeler sales in India.

Revolt Motors appoints Pradeep Lamba as VP of marketing
Pradeep Lamba has joined Revolt Motors as the vice president of marketing, marking a stride in the company’s quest to redefine the future of mobility with sustainable solutions. With a career spanning over two decades, Lamba’s appointment heralds a new era of innovation and strategic direction for Revolt Motors.

Electric scooters to get costlier in the next two weeks
Come April 1, 2024, potential buyers of electric scooters in India may need to brace themselves for a significant price hike, a potential increase of up to 10 percent. This surge, as forecasted by the Investment Information and Credit Rating Agency of India Limited (ICRA), could have notable implications for the affordability of electric two-wheelers (e-2Ws) across the country.

Samvardhana Motherson’s subsidiary MSSL Mideast to acquire Yachiyo India Manufacturing
Yachiyo India Manufacturing, the Indian subsidiary of Yachiyo Industry Co. Limited, is to be fully acquired by Samvardhana Motherson International Limited (SAMIL) through its subsidiary MSSL Mideast by March-end 2024. Yachiyo Industry Co. is engaged in production of automobile parts like sunroofs, fuel tanks and resin products.

Uno Minda launches rearview mirror range for passenger vehicles in the aftermarket segment
Uno Minda, a leading supplier of automotive Solutions to OEMs, has introduced a range of passenger vehicle rear-view mirrors.

IPHE meeting in New Delhi focuses on advancing green hydrogen technologies
New Delhi: The 41st Steering Committee Meeting of the International Partnership for Hydrogen and Fuel Cells in the Economy (IPHE) began in New Delhi on March 18, 2024, and will continue until March 22, 2024.

Zoomcar partners with EaseMyTrip to offer integrated travel solutions
New Delhi: Car sharing marketplace Zoomcar and EaseMyTrip on Tuesday announced a partnership allowing users to book self-drive cars on the latter's online travel platform.

Neuron Energy partners Urja Mobility for battery leasing solution
Neuron Energy, a leading manufacturer of EV batteries has partnered Urja Mobility, a battery leasing for commercial EVs start-up.

India's first battery storage gigafactory to start operating by October
GoodEnough Energy said on Tuesday it will start operations at India's first battery energy storage gigafactory in the northern region of Jammu and Kashmir by October.

Fasmho Energy, Cyantron Synergies to co-develop high voltage battery tech
Fasmho Energy, an EV battery management technology startup has announced a partnership with Cyantron Synergies, a start-up focussing on advanced battery packs to develop high voltage battery technology for electric cars, buses, material handling equipment and trucks.

OMC stocks tank up to 11% in 3 days on petrol, diesel price cut; Kotak gives 'sell' rating
Today, the stock prices fell up to 3.5% with the highest fall recorded in IOC as of 9:40 am amid concerns of a likely hit for the OMCs. The decision is being linked to the general elections which begin from April 19.

Sun Mobility, Revfin to drive EV adoption under Battery as a Service model
Sun Mobility and Revfin have joined forces to accelerate adoption of electric vehicles in India by offering innovative financing solutions for fleet and passenger vehicles utilising Sun Mobility’s Battery-as-a-Service (BaaS) model.

L&T Finance Holdings launches super bike loans
L&T Finance Holdings, key non-banking financial company (NBFC), has introduced Super Bike Loans at 5.99 percent per annum. This loan will provide funding of up to Rs. 20 lakhs with a flexible tenure of up to 60 months. All Super Bike manufacturers will be covered under this loan scheme.

Volvo XC40 Recharge single motor bookings open
Source Credit: Autocar India

Volvo Car India has started accepting bookings for the XC40 Recharge single motor variant against a token amount of Rs 1 lakh. Launched earlier this month, the XC40 Recharge single motor is priced at Rs 54.95 lakh, undercutting the all-wheel drive ‘Ultimate’ variant (Rs 57.9 lakh) by Rs 2.95 lakh.

Bajaj CNG bike spotted again, could be called Bruzer
Source Credit: Autocar India

The upcoming Bajaj CNG bike has been spotted testing yet again and sources close to the project have informed us that it will likely be called the Bruzer.

Harley-Davidson LiveWire S2 Mulholland teased ahead of March 21 reveal
Source Credit: Autocar India

The LiveWire S2 Mulholland electric bike, which will launch globally on March 21, will be the third addition to the Harley-Davidson-owned company’s line-up.

Suzuki begins production of flying cars
Source Credit: Autocar India

Suzuki Motor Corporation, in collaboration with SkyDrive Inc, have begun manufacturing flying cars in a Suzuki-owned manufacturing plant in Iwata City, Shizuoka Prefecture, Japan. This facility is capable of producing 100 electric vertical take-off and landing (eVTOL) flying cars a year. They’re fully electric and autonomous, and are also known as Advanced Air Mobility (AAM) or Urban Air Mobility (UAM). 

Skoda compact SUV spied for the first time
Source Credit: Autocar India

Skoda recently confirmed that it will bring in its compact SUV in March 2025, and the SUV has now been spotted testing. Skoda will enter the ever-growing sub-4-metre SUV segment, which currently includes as many as six direct rivals from five different manufacturers. The compact SUV has now been spotted testing for the first time ever, and it reveales a few noteworthy details.

MG readying new global midsize platform; will come to India
Source Credit: Autocar India

Premium midsize SUVs helped MG Motor India establish its brand in the country, and the company is bringing the focus back on that segment by developing a new midsize platform for global markets, including India.

MG Cyberster electric sportscar India showcase on March 20
Source Credit: Autocar India

MG Motor India is keen on bringing the Cyberster electric sportscar to India. The brand is all set to announce its future plans at an event in Mumbai on March 20, where it will also showcase future models, including the Cyberster. The launch of the electric sportscar however, is still sometime away, as MG is currently mulling over the benefits and possibility of a new flagship brand a-la Toyota – Lexus, or even a premium retail channel akin to Maruti Suzuki’ Arena – Nexa dealerships. The Cyberster would thus be used to introduce this new flagship brand or network.

BMW Vision Neue Klasse X SUV global debut on March 21
Source Credit: Autocar India

BMW will provide a look at the future of its SUV line-up on March 21, when it shows the new Vision Neue Klasse X concept SUV. The German brand confirmed the reveal date on social media with a teaser image showing the car’s side profile, and it has a similar silhouette to the current iX.

Audi India keen on localisation for 50 percent EV sales by 2028
Source Credit: Autocar India

Andre Konsbruck, vice president of overseas sales at Audi AG believes that more than 50 percent of luxury cars sold in India by 2028 will be electric vehicles and hence the German carmaker is very actively looking at localising electric vehicles in the country.

New Yezdi Streetfighter, Adven-X spotted, launch soon
Source Credit: Autocar India

A few days after we brought you images of a new Yezdi street bike, we can now report that there are two new models on the anvil – the Streetfighter and Adven-X.

UAW says workers at VW Tennessee plant file for union election
Workers at Volkswagen's Chattanooga, Tennessee, assembly plant are seeking an election to join the United Auto Workers union, setting up a critical test for UAW President Shawn Fain's unprecedented campaign to expand the union's reach to foreign-owned automakers in the southern United States.

Maserati signs up Marco Gentile to celebrate the launch of GranCabrio Trofeo
To enhance the spirit of the GranCabrio, Maserati has signed up famed director, Marco Gentile, to celebrate its new convertible. A portrait of pure nonchalance, a celebration of life encompassed in a short but powerful video entrusted to the Movie Magic production house.

New Yokohama Tire Plant in Mexico to add capacity to North American market
The Yokohama Rubber Co., Ltd. (YRC) has announced its intent to build a new consumer/light truck tire plant at the Alianza Industrial Park in Saltillo, Coahuila, Mexico after approval by the YRC board on Monday.

US to finalize revised EV mileage rating rule in win for automakers, sources say
The U.S. Energy Department (DOE) on Tuesday will unveil final rules that will significantly soften its proposal that would have slashed electric vehicles' (EV) mileage ratings to meet government fuel economy requirements in 2027, sources said.

US agency probes driver assistance system use in fatal Ford crash
The National Highway Traffic Safety Administration said on Monday it has opened an investigation into a recent Ford Mustang Mach-E fatal crash in San Antonio, Texas, where authorities suspect an advanced driver assistance system was in use.

Q6 e-tron to take digital experience at Audi to new level
The Audi Q6 e-tron is the first production model on the Premium Platform Electric (PPE), marking the next step in the company's transformation into a provider of premium electric mobility. With its characteristics, the electric SUV stands for Vorsprung durch Technik.

Stellantis increases stake in Archer Aviation
Stellantis N.V. and Archer Aviation Inc. on Monday announced that Stellantis recently completed a series of open market purchases of ~8.3 million shares of Archer’s stock, signaling Stellantis’ continued confidence in Archer’s plans to bring electric vertical take-off and landing (eVTOL) aircraft to market beginning in 2025.

Tesla shares gain after Model Y price hike in US, Europe
Shares of Tesla jumped nearly 7% on Monday after the automaker announced price increases for its Model Y electric vehicles across some European countries and the United States.

Pirelli’s C5 compound tyre to make its debut at Australian Grand Prix
Pirelli’s C5 tyre – the softest of the five slick compounds available this year – will make its debut at the Australian Grand Prix: round three of the 2024 season. This has been nominated alongside the C4 (as used in Jeddah) and the C3, which is seen at practically every race.

Over 2 lakh people use Mercedes me Eco Coach to optimise driving behaviour
Over 200,000 people are already using the Mercedes me Eco Coach app to optimise their driving behaviour. As a digital personal trainer, the app offers useful tips and motivates users of electric cars and plug-in hybrids to drive their vehicles more efficiently.

Vision EQXX delivers energy efficiency of 7.4 kWh/100 km on e- journey from Riyadh to Dubai
On its third long-distance road trip over 1,000 km, the Vision EQXX technology programme demonstrated that even the Arabian Desert is no obstacle to energy efficiency.

Nvidia expands ties with Chinese EV makers as auto AI race heats up
Nvidia said on Monday it is expanding its collaborations with BYD and other Chinese automakers that are racing to build self-driving vehicles and AI-augmented infotainment technology to compete in global markets.

Hertz CEO resigns amid Electric Vehicle fiasco
New Delhi: Hertz Global Holdings Inc. is bidding farewell to its Chief Executive Officer, Stephen Scherr. The rental-car giant, reeling from costly EV repairs and plummeting resale values, announced Scherr's departure on Friday, marking the end of his tenure of just over two years. Taking the reins is Gil West, former Chief Operating Officer of General Motors Co.'s Cruise unit, set to join the board of directors on April 1, a global news organisation reported.

Ducati 2023 profitability increases to 10.5% with revenue exceeding EUR 1 bn
New Delhi: Ducati concludes 2023 with financial results that confirm the solidity of the Company and the validity of the strategic decisions made in recent years.

MediaTek unveils new automotive SoC to provide AI-powered in-cabin experience
MediaTek announced at Nvidia GTC four new automotive SoCs (systems-on-chip) within its Dimensity Auto Cockpit portfolio, which it says will offer powerful AI in-cabin experiences for the next generation of intelligent vehicles.

JLR issues recall for E-Pace in North America
Jaguar Land Rover North America has issued a recall for the E-Pace, manufactured between 2021 and 2024. A total of 2,842 vehicles could be affected under the recall, which the National Highway Traffic Safety Administration (NHTSA) says is due to a faulty brake pad wear warning light.

Audi to drive in over 20 new models by 2025-end: CEO Gernot Dollner
German automaker Audi plans to roll out over 20 new models by the end of 2025 across markets, Audi AG CEO Gernot Dollner said on Tuesday. The company also plans to electrify all core segments by 2027.

EV startup Fisker to raise funds, pause production after missing interest payment
Fisker said on Monday it would pause production of its electric vehicles for six weeks and raise up to USD 150 million in funding by selling convertible notes after missing an interest payment, as the startup tries to navigate a cash crunch.

DFDS orders 100 electric trucks from Volvo
DFDS, the shipping and logistics company in Northern America is seeing a growing demand for transport solutions with lower environmental impact. Previously the company had purchased 125 heavy electric trucks from Volvo and now they have placed another order of 100 Electric Trucks from Volvo. 

China lags in efforts to achieve 2025 green steel goals, analysts say
China is falling short when it comes to decarbonising its huge steel industry, with slowing demand, low recycling rates and lingering overcapacity concerns hindering the transition towards lower-emission production, researchers said on Tuesday.

Startup offers EV firms greener graphite in alternative to China
An alternative energy startup in Malaysia is ready to help electric-vehicle makers source a key ingredient outside of China — using agriculture waste to create graphite.