Top Indian Automobile Industry News & Updates - 28 March 2024,Thursday
🏢 Industry
Tata Passenger e-mobility partners with HP to set up EV charging stations across India
Tata Passenger Electric Mobility Ltd. (TPEM), has signed an MOU with Hindustan Petroleum Corporation Ltd. (HPCL) to collaborate in establishing public charging stations across India.
Tendulkar-backed company to invest INR 5,000 crore for semiconductor facility in Maha
RRP Electronics, a company backed by former cricketer Sachin Tendulkar, on Tuesday announced an investment of INR 5,000 crore for a semiconductor facility in Maharashtra. The investment will be done over the next five years, the company said in a statement.
Baba Kalyani Group threatens to file defamation, denies allegation
Mumbai: In a new twist to the ongoing Kalyani and Hiremath family feud, Bharat Forge Chairman Baba Kalyani-led faction has decided to take on the fresh petition filed for partition of assets head-on and denied all the allegations made in the petition. Reacting to the development, a spokesperson of Baba Kalyani faction said the claims by the petitioners have been made with the intent to malign the image of (Bharat Forge chairman) Baba Kalyani, his family and the Group.
EV car race: Will it be a Tesla vs Tata Motors battle on Indian roads?
India's new policy for electric vehicles, aimed at inviting the likes of Tesla to start manufacturing in India, ensures that the king of Indian EVs and the king of American EVs drive in separate lanes but Tata Motors and Tesla may race against each other in the luxury car segment.
India Inc warms up to the idea of product recalls as pharma, auto industries lead the charge
In FY23, 30 companies undertook voluntary product recalls, while 16 were forced to recall their products, shows data sourced from Prime Database. Product recall information forms part of the business responsibility and sustainability reporting (BRSR) framework that is mandatory disclosure for the top 1,000 listed companies from FY23. Since many companies have not disclosed data for FY22, a YoY comparison is not tenable.
India at the Heart of JV with Renault: Nissan Prez
Chennai : India is at the “heart” of the alliance with French carmaker Renault, Nissan Motor Co Ltd president and CEO Makoto Uchida said on Wednesday, adding the alliance partners are committed to the market here and will launch four new sport-utility vehicles across both brands to expand their footprint in the country.
Bharat Forge denies claims in suit against Baba Kalyani
Bharat Forge in a statement released on Tuesday said the allegations made by Baba Kalyani’s nephew, Sameer Hiremath and niece Pallavi Anish Swadi, in a suit filed at a Pune sessions court were false and baseless.
📝 Car shipments shifting back to pre-Covid gear; Maruti, Hyundai at the top
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🎤 Interviews & Features
JSW’s EV juggernaut: Odisha gets an INR40k crore project, and MG an Indian touch
Sajjan Jindal wants to create his own “Maruti moment” in electric vehicles (EVs). "Like 40 years ago, in 1984, when Maruti came into India, it changed the auto industry. I believe that with MG we can create a new energy vehicle, the Maruti moment," Jindal, the chairman of the JSW group, told the media on March 20 in Mumbai after his company signed a joint venture (JV) agreement with Chinese SAIC Motor-owned MG Motor. The JV will make new energy vehicles (NEVs) like electrics and hybrids.
In race with Thar, Jimny now faces an uphill task
New Delhi: On the evening of 18 February, a video of a Land Rover Defender—arguably the most accomplished sports utility vehicle (SUV) in the world—being pulled out of a snow pit near Gulmarg, Jammu & Kashmir, went viral on social media. Another similar clip showed Scorpio, one of Mahindra’s best-selling SUVs, getting stuck in the same spot.
Volkswagen Taigun GT vs Hyundai Creta N Line vs Kia Seltos X Line – Spec check
Compact SUVs are getting more powerful, making them more engaging to drive. Volkswagen was the only carmaker in the segment to offer such a mix, however, with the launch of the new Hyundai Creta N Line and the Kia Seltos X Line, Volkswagen’s Taigun GT is facing competition.
📝 Tata Nexon vs Maruti Swift: Comparing India's Two Favourite Cars
📝 Does Tata Punch pose a competition to the Hyundai Creta?
📝 From waste to wealth: The economics of battery refurbishing
📝 Hyundai Verna(2023) vs Hyundai Exter - A Detailed Comparison Review
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🚗 Cars / SUVs
5-door Force Gurkha teased, launch soon
The 5-door Force Gurkha has been in development for ages. The standard 3-door version of the compact off-roading SUV was given a major overhaul in 2021, and soon after the launch, Force announced the development of a larger 5-door version of the same. Ever since then, test mules of the 5-door Gurkha have been spied on numerous occasions on the roads.
Tata Nexon gets five new variants from Rs 10 lakh onwards
Tata Motors has launched five new variants of the Nexon, further expanding its range. The new variants are AMT models added to the existing petrol and diesel versions of the new Nexon. This is a needed move for Tata Motors as Nexon sales saw a dip last month.
New-Gen Suzuki Swift makes UK debut, India launch soon
Suzuki unveiled the all-new Swift during the Japan Mobility Show held in Tokyo in 2023. It will soon go on sale in the UK and Ireland from April 2024. There is a high chance that the fourth-Gen Swift will be launched in India this year in the coming weeks with an expected price of around Rs 6 lakh (ex-showroom).
Renault and Nissan to launch 2 SUV models each in India
New Delhi: The Renault Nissan Alliance, a joint venture between the Japanese automaker Nissan and the French Renault, will launch four new products, with both the companies bringing two new localised 5 and 7-seater SUV models each in India.
Citroen unveils images of Basalt Vision SUV Coupe concept; market launch by year-end
New Delhi: Citroen Wednesday unveiled the first images of the Citroen Basalt Vision, a new SUV Coupé concept that will join the brand's range in India and South America in the second half of 2024.
CarDekho in talks to raise $100-150 million
Mumbai : Automobile portal CarDekho is navigating a new round of funding that is likely to raise its valuation marginally, as it steers towards a public listing over the next 18-24 months, according to three people aware of the development.
Maruti management changes- Tarun Aggarwal is now Head- Engineering and Partho Banerjee is Head-Marketing and Sales; All details here
Maruti Board has approved series of senior management changes. The company’s Chief Technology Officer, C V Raman and Shashank Srivastava Head- Marketing and Sales are now Member Executive Committee with effect from April 1. Tarun Aggarwal is designated as Head- Engineering and Partho Banerjee is designated as Head – Marketing & Sales.
Renault Nissan Alliance plans to introduce 4 new SUVs for the Indian market
Chennai: Renault and Nissan have announced their plans to expand their product portfolio in India with four new SUVs in the near future as the French and Japanese companies look forward to driving growth in the country with a renewed approach. This comes a year after the two companies’ announcement of an additional investment of ₹5,300 crore ($600 million) in the Indian market for developing and producing about half-a-dozen models both for India and overseas. The alliance has, so far, invested $1.8 billion in Indian operations, which commenced 15 years ago.
Maruti Suzuki rejigs senior management; Tarun Aggarwal to succeed C V Raman
Maruti Suzuki India rejigs top deck, heads of several verticals changed
📝 Mahindra Thar 5-door to officially unveil on 15th August
📝 2024 Suzuki Swift to soon go on sale in this country before launching in India
📝 Maruti Suzuki sees EV penetration rising dramatically from next year
📝 Tata Nexon to Kia Sonet and more: Why India loves compact SUVs
📝 Nissan plans to launch three new cars, including SUVs, in India in next 3 years
📝 Maruti Suzuki breaches Rs 4 lakh crore m-cap mark as stock races to fresh 52-week high
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Electric-Cars / SUVs
📝 Toyota Hilux to get an all-electric avatar by 2025. Will it come to India?
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🚗 Luxury Cars
Audi to expand retail presence, inaugurates new showroom in Guwahati
Audi will inaugurate its new car facility, Audi Approved: plus at Guwahati, Assam. The outlet will be located at Balughat, Jayanagar Tripura Road, Guwahati. This will be Audi’s 26th Audi Approved: plus facility in India signifying an addition to Audi India’s retail presence in India.
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⛟ Commercial Vehicles
📝 JCTSL may turn bus stands into charging points for e-buses
📝 Commercial vehicle market to remain soft in 2024, says Daimler India MD
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🏍 2/3 Wheelers
Triumph Trident ‘Isle of Man TT’ edition breaks cover
Triumph, in order to pay tribute to the Isle of Man TT races, has unveiled the Trident Ise of Man TT edition. The motorcycle pays tribute to the IOM TT victories won by Triumph and the Trident 660 gets a few add-ons to make it stand out compared to the standard variant.
Suzuki V-Strom 800DE India launch date confirmed
Suzuki India’s social media channels have teased the launch of an upcoming motorcycle, and the looks of it point to the new V-Strom 800DE. The launch is set to take place on March 29, ahead of Easter. The 800DE replaces the tried and tested V-Strom 650 in Suzuki’s global lineup.
Honda inaugurates Bing Wing at Guntur, Andhra Pradesh
Honda Motorcycles and Scooter inaugurates an all-new premium motorcycle sales and service outlet, Honda BigWing, in Guntur, Andhra Pradesh. Expanding its last-mile presence to cater to customers, the BigWing can be now experienced at more than 130 operational touchpoints across India.
📝 Suzuki V-Strom 800DE middleweight adventure tourer teased ahead of launch soon
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🚲 Electric 2/3 Wheelers
Subsidies recede, e2w OEMs focus on cheaper models
New Delhi: India’s electric two wheeler (e2w) growth story has taken a turn. As the subsidy regime begins to unravel, OEMs now focus on launching cheaper models, with fewer features and a shorter range. From April 1, the purchase subsidy available on sale of e2w will be reduced further (second cut after the one done in June 2023) and even the new subsidy scheme is valid only for four months, throwing the industry into uncertainty. Is this uncertainty leading to innovation?
Electric two-wheeler companies to bear the brunt of paused FAME sops
This will force the companies to take a hit of an average Rs 20,000 per vehicle, which is the subsidy passed on to consumers by adjusting the amount from the vehicle’s on-road price.
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🌇 Allied Industries
Zoomcar Partners with ACKO Drive to increase car fleet
New Delhi: Zoomcar Holdings, Inc., a leading marketplace for self-drive car sharing, has partnered with ACKO Drive, a car buying platform by ACKO, to empower local Zoomcar Hosts to expand their car fleet.
This startup leverages dash cam tech to make Indian roads safer
New Delhi: In the bustling streets of India, where traffic can be chaotic and accidents all too common, one company is revolutionizing road safety through innovative dash cam technology. SafeCams, founded by visionary entrepreneur Vanesh Naidoo, has embarked on a mission to transform the way dash cams are perceived and utilized in India and internationally
Role of Batteries in Clean Energy Transitions
The Challenge of Intermittency and the Role of Batteries
Remsons Inds, Swiss co Aircom Group form JV for tyre mobility kits
ARAPL would be engaged in the business of manufacturing and selling Tyre mobility kits (new-age puncture kits) and its components. The move will increase the total share of Remsons in the overall products supplied to OEMs (original equipment manufacturers).
📝 Localization of EV parts without production scalability may not help cut EV price, says President, Amara Raja
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🌢 Fuels, Lubricants & Charging Stations
Tata Motors unit, HPCL partner to install 5,000 EV charging stations
The collaboration will leverage Hindustan Petroleum Corporation Ltd (HPCL's) fuel station network and company's insights from over 1.2 lakh Tata EVs on Indian roads, to set up chargers at locations frequently visited by Tata EV owners, Tata Passenger Electric Mobility (TPEM), a unit of Tata Motors, said in a statement.
📝 Oil prices fall for a second day as US crude inventories increase
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💸 Finance & Insurance
📝 Kotak General Insurance empowers women drivers with car insurance plans and 24x7 roadside assistance services
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📖 Magazines News
Triumph Trident 660 special edition unveiled
Source Credit: Autocar India
Triumph has unveiled its Trident Triple Tribute, a special edition Trident 660 with a unique paint scheme and some accessories onboard as well. The special edition Trident 660 pays homage to the ‘Slippery Sam’ race bike which was based on a 750cc Triumph Trident that achieved multiple victories at the Isle of Man TT in the 1970s.
Branded Content: Gourmet Getaway
Source Credit: Autocar India
The Hyundai Verna and the Rawla Narlai are as different as chalk and cheese. One is an A1 sedan that is built to dominate its segment; the other, a grand 17th century manor located in the shadow of a massive granite monolith in Rajasthan. But there is something that ties them both – in their own way, they offer up indelible experiences. We let that thought marinate in our heads on our way back from Narlai, about 120km from Jodhpur. We just spent two days in Narlai, but the drive to the quaint village and our time there pointed to a simple fact: experiences are more important than things.
Citroen Basalt SUV-coupe breaks cover
Source Credit: Autocar India
Citroen has globally unveiled the all-new Basalt Vision coupe-SUV. This is the fourth model under the company's C-Cubed programme following the C3 and eC3 hatchbacks, and the C3 Aircross SUV. These images give us a first look at the exterior design of the upcoming model that will go sale in India in the second half of 2024. Although it's still labelled as a concept, Citroen says, “It is faithful to the model that will hit the streets.”
New Renault Duster, Nissan SUV for India teased ahead of 2025 debut
Source Credit: Autocar India
At a joint press briefing, Nissan and Renault have announced the development of four new products; two five-seater SUVs, one from each brand, and their respective seven-seater derivatives.
Tata Nexon Smart+ entry-level AMT variant launched at Rs 10 lakh
Source Credit: Autocar India
Tata Motors has expanded the Nexon compact SUV’s already expansive line-up by adding five new AMT variants. The Nexon petrol-AMT range now starts at Rs 10 lakh (ex-showroom, Mumbai) for the Smart+ trim while the diesel-AMT versions are now priced from Rs 11.80 lakh for the Pure trim. At launch, the most affordable Nexon petrol-AMT was priced at Rs 11.70 lakh and the entry point to the diesel-AMT range cost Rs 13 lakh (both based on the mid-spec Creative trim).
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📰 International News
Volvo Car just made its last-ever diesel vehicle; last XC90 SUV headed to museum
Volvo Car AB produced its last automobile with a diesel engine this week, ending an era for the manufacturer that plans to only make electric vehicles by 2030.
Stellantis signs deals to cut at least 2,500 jobs in Italy
Stellantis has reached voluntary deals to cut at least 2,500 jobs in Italy, labour unions said on Tuesday, as the carmaker tries to adapt to changes needed for the industry's transition to clean energy.
SK Hynix plans to build advanced chip packaging facility in Indiana, may add up to 1,000 jobs
South Korean chipmaker SK Hynix, an Nvidia supplier, is planning to invest roughly USD 4 billion to build an advanced chip packaging facility in West Lafayette, Indiana, the Wall Street Journal reported on Tuesday.
Renault to sell Nissan stake of about 2.5%
Renault plans to sell a stake of about 2.5% in Nissan shares to the Japanese car maker in a deal that could result generate up to 362 million euros (USD 392 million), the French firm said on Wednesday.
Nissan will invest in Renault EV unit even though IPO scrapped, CEO says
Japan's Nissan Motor will invest in the electric vehicle unit of alliance partner Renault even though the French carmaker has decided not to list the unit, Nissan's CEO said on Wednesday.
Land Rover Defender Octa teased, debut later this year
Jaguar Land Rover (JLR) has teased a new version of Defender which is slated to make its debut later this year. Called Defender Octa, it will be the most powerful vehicle to don the Defender badge with a V8 Twin Turbo motor plonked into it. The upcoming premium lifestyle SUV will sit on top of the Defender lineup.
Chinese EV maker Nio cuts Q1 deliveries forecast amid tepid demand
Chinese electric-vehicle maker Nio lowered its forecast for first-quarter deliveries on Wednesday, as it grapples with slowing demand and a price war in China.
Chinese electric vehicle maker BYD targets 20% jump in annual sales
Chinese electric vehicle giant BYD set a 3.6 million sales target for 2024, up 20% from its record-breaking sales last year, China Business Network (CBN) reported on Wednesday.
BYD’s rise challenges Tesla—and its valuation
BYD and Tesla, the world’s top two electric-vehicle makers, have a lot in common these days—except in terms of market value, where the U.S. company is roughly seven times as big. It takes a lot of faith in chief executive Elon Musk’s promise of autonomy to rationalize the difference.
Chinese EV makers show latest models at Bangkok International Motor Show
Companies like BYD, XPeng and Great Wall Motors are quickly growing their sales in Thailand, challenging longstanding market leaders like Toyota, Isuzu and Ford, as they expand exports across the globe.
📝 Li-Cycle to cut 17% of staff amid battery recycling growing pains
📝 EV maker VinFast signs partnership agreements with 15 dealers in Thailand
📝 GM, Ford will reroute Baltimore shipments after bridge collapse
📝 Nissan to test African demand for its e-Power hybrid vehicle
📝 Ford, Allego team up for fast EV charging at dealers across Europe
📝 GM, Ford are upbeat on 'really strong' US demand
📝 Death to fossil fuels: Volvo just made its last-ever car with diesel engine
📝 Jaguar recalls I-Pace EVs over battery fire risk, remains clueless about a fix
📝 Can smartphone giant Xiaomi take on EV titans Tesla and BYD?
📝 Hyundai aims to be among top 3 EV makers in the world, announces big investment
📝 China takes on US in epic EV battle, blames subsidies as ‘discriminatory’
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