Top Indian Automobile Industry News & Updates - 01 May 2024,Wednesday
🏢 Industry
Rockwell Automation to open new manufacturing facility in Chennai
Rockwell is investing in India by expanding its manufacturing presence and building a new factory in Chennai. The facility will be located in the same industrial park as Rockwell’s CUBIC manufacturing facility to help maximize supply chain resilience and create additional career opportunities for employees.
Tata Motors slapped penalty of INR 6.68 cr from Corporate Division, West Bengal
New Delhi: Tata Motors, one of India's largest automobile manufacturers, has received penalties from the Corporate Division, West Bengal and Commercial Tax department, Bihar.
Why rise of hybrid cars is being seen as vital transition phase to electric
How things have changed.
Anand Mahindra responds to ‘your cars can't compete with Japanese or Americans’ criticism amid XUV 3XO launch
Anand Mahindra, the chairman of Mahindra & Mahindra Limited, recently took to social media to address criticism regarding the competitiveness of Mahindra cars in global markets. The dialogue began when a user expressed skepticism about Mahindra's ability to compete with Japanese and American automotive giants. Mahindra's response, filled with confidence and determination, has garnered significant attention online.
Hyundai plans to launch its first hybrid car in India in 2026, says EVs long-run strategy
Hyundai plans hybrid cars for India in strategy shift
The Hindu Business Line
M&M, Tata Motors, Maruti Suzuki: What is driving the rally in these stocks?
📝 Govt EVs misregistered, used as pvt cars: Cabbies
📝 Maruti bets on new-gen models to race past industry growth
📝 Why Elon Musk chose to go to China rather than visit India
📝 M&M shares rally 4% after Mahindra launches new SUV to fight Tata Nexon
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🎤 Interviews & Features
Mahindra XUV 3XO vs rivals: Powertrain specs compared
Mahindra has launched the XUV 3XO at a starting price of Rs 7.49 lakh (ex-showroom). It competes against the likes of other subcompact SUVs like Tata Nexon, Maruti Suzuki Brezza, Kia Sonet, and Hyundai Venue. Barring Brezza, all the models mentioned above are offered with diesel and turbocharged petrol engine options.
Force Gurkha returns as 5-door with more power, torque — launch soon
Force Motors has finally unveiled the Gurkha in its new 5-door form. At the same time, the Pune-based automaker has retained the 3-door version of Gurkha and made some critical updates to it. Force has officially started accepting bookings for the updated Gurkha range, both 3-door and 5-door version, at a token amount of Rs 25,000.
Mahindra XUV 3XO launched — All you need to know
After a lot of teasers and spy shots, Mahindra has finally launched the XUV 3XO in India, priced at Rs 7.49 lakh onwards. Than the 3XO being a mere facelift of the older Mahindra XUV300, the carmaker has completely revamped the sub-4 metre SUV.
📝 Mahindra XUV 3XO: How to book XUV 3XO, booking amount, variants price list and everything you should know
📝 In the driver's seat of driverless cars
📝 Mahindra XUV 3XO vs Tata Nexon: Which one should you choose
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🚗 Cars / SUVs
Skoda Kushaq, Slavia now equipped with 6 airbags as standard
Skoda has announced that it will now offer 6 airbags as standard across the lineups of both Kushaq and Slavia. Both these models are locally manufactured by the Czech brand in India out of its facility in Aurangabad, Maharashtra. Interestingly, both these models have already been crash tested by Global NCAP and have earned a perfect 5-star safety rating.
Maruti Suzuki join hands with AIIMS and IRF on emergency care training for drivers
New Delhi:Maruti Suzuki India Limited has partnered with AIIMS, India’s premier medical institute, and International Road Federation (IRF), to provide first aid and trauma care training to commercial drivers at its Institute of Driving and Traffic Research (IDTR).
Skoda makes Kushaq and Slavia safer with MY24 updates
New Delhi: Kushaq SUV in October 2022 and the Slavia sedan in April 2023, Skoda Auto India continues to bring safety as its key component with introduction of six airbags as standard across all variants of the Kushaq and Slavia. The introduction is part of the company's MY24 updates for its India 2.0 product portfolio.
📝 M&M cruises through SUV opportunity to emerge as category revenue leader
📝 Looking for a vehicle with ADAS? Here are top 5 most affordable options
📝 2024 Force Gurkha 3-door and 5-door bookings open for ₹25,000, launch in May
📝 Maruti Suzuki betting big on cleaner fuels, aims to sell 6 lakh CNG cars in FY25
📝 Is Maruti Suzuki hesitating to offer ADAS? Here's what chairman Bhargava thinks
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Electric-Cars / SUVs
Aiming annual production of 3000 units per year: Ram Divedi, Co-founder, Pravaig
Founded in 2011, Pravaig (formerly known as Pravaig Dynamics) only came to limelight in December 2020 when the EV startup unveiled its first electric car concept named Extinction MK1. Although the Extinction hasn’t made it to the market yet, a couple of years later, the company launched its first EV in the market in the form of the Defy.
📝 MM Forgings forays into EV space, plans ₹500 cr. investment
📝 Mukesh Ambani, Tata backed BluSmart touches new height, crosses more than Rs 5000000000…
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🚗 Luxury Cars
Here’s birthday boy Rohit Sharma’s car collection compared to Hardik Pandya’s garage
We all know that Indian cricketers are car enthusiasts and big names like Dhoni and Kohli have an impressive lineup of cars. Today being Rohit Sharma’s birthday, let’s take a look at the cars he owns and to spice it up a bit, let’s compare it to teammate Hardik Pandya’s collection of cars. Let’s dive straight in.
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⛟ Commercial Vehicles
VECV to invest around INR 1000 cr on multiple alternative fuel technologies for new-age CVs
New Delhi: Disruption is becoming commonplace in the new-age automotive industry. The work-in-progress scenario of the fuel technology landscape makes it more challenging for industry players as they have to prepare for multiple scenarios. And, that’s driving Volvo Eicher Commercial Vehicles (VECV) to invest “almost INR 1,000 crore” on developing alternative fuel technologies.
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🏍 2/3 Wheelers
Ducati DesertX Rally launched in India at ₹23.71 lakhs: Know what is new
Ducati India has announced the launch of the DesertX Rally, a more robust variant of the existing DesertX, at an ex-showroom price of ₹23,70,800. Bookings are currently open, with the motorcycle set to arrive at dealerships by the end of May. This latest offering from Ducati represents a significant upgrade over the standard DesertX, priced at ₹18.33 lakh ex-showroom.
📝 Two-wheelers likely to report double-digit YoY growth in April sales
📝 Prices of 2024 Harley-Davidson models to start from INR 13.39 lakh
📝 Royal Enfield Nirvik V2 riding jacket launched at ₹17,950. Check what's new
📝 BMW R 1300 GS bookings open at select dealerships, will launch soon
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🚲 Electric 2/3 Wheelers
Month after EMPS rollout: Ola market share grows to 53%, registrations drop
While Ola’s registrations dropped by 38 per cent in April compared to March, totalling 30,728 vehicles, it gained market share because its decline was much lower than the industry average.
Ampere Nexus, a journey of Greaves innovation and endurance
New Delhi: In the heart of India's bustling electric mobility landscape, Greaves Electric Mobility launched the Ampere Nexus, its flagship electric scooter that signifies innovation and endurance. Until now the scooter was teased as 'The Next Big Thing.'
Greaves Electric Mobility launches Ampere Nexus at an introductory price of INR 1.1 lakh
New Delhi: Greaves Electric Mobility Private Limited (GEMPL), the e-mobility arm of Greaves Cotton Limited, has introduced its high-performance family electric scooter, the Ampere Nexus, starting at INR 1,09,900 (ex-showroom).
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⚙ Components
Sona Comstar FY24 PAT up 31% to INR 517 cr; Q4 net at INR 149 cr
Sona BLW Precision Forgings Ltd. (Sona Comstar), a leading automotive technology company providing mission-critical systems and components for electrified and non-electrified powertrain segments, on Tuesday reported that its revenue for FY24 posted 19% YoY growth at INR 3,185 crore. Revenue share from Battery Electric Vehicles (BEV) was at 29%, and BEV revenue increased 32% YoY.
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🌇 Allied Industries
Royal Enfield launches Nirvik V2, all-weather adventure touring jacket
Royal Enfield introduced the newest addition to its Apparel business — the Nirvik V2 Riding Jacket. Engineered for top-notch functionality, and safety. This all-weather adventure touring jacket is designed to offer vital protection and comfort on rough terrains, allowing riders to stay focused on the journey ahead without compromising on performance. This jacket will be priced between Rs. 17, 950 – Rs 18, 950.
Piaggio offers Ape electric 3W with battery subscription model for INR 2.59 lakh
Piaggio Vehicles Pvt Ltd (PVPL),a subsidiary of the Piaggio Group and a leading Indian manufacturer of small commercial vehicles and electric three-wheeler (3EV) pioneers, has announced a “Battery Subscription Model" for its Ape Elektrik electric 3Ws.
Statiq partners with Dassault Systemes 3DExperience Works for EV charging ecosystem
New Delhi: Statiq, a leading EV charging network, is using Dassault Systèmes’ 3DExperience Works to develop reliable, accessible and affordable EV charging infrastructure in India.
Li-ion battery startup PointO raises ₹6.2 crore in seed round
Lithium battery ecosystem startup PointO has raised ₹6.2 crore in a seed funding round led by Equirus InnovateX Fund (EIF), which invested ₹5 crore. Founded by Riki Biswas, Gaurav Jindal, and Pratimendra Bagui, PointO aims to build a full-stack lithium battery ecosystem, encompassing manufacturing, financing, and servicing of lithium batteries. The startup has grown about seven times in the last 12 months and intends to open more centres in over 10 cities in the coming year. The company said it aims to solve the issue of low adoption of lithium batteries by focusing on financing for e-rickshaw owners in tier-II, -III cities.
KPIT Technologies Q4 Results Live : profit rise by 47.27% YOY
KPIT Technologies Q4 Results Live : KPIT Technologies announced their Q4 results on 29 Apr, 2024, showcasing a strong performance. The company reported a 29.53% year-on-year increase in revenue, reaching impressive figures.
Avik Kumar Roy appointed as MD & CEO of Exide Industries
Exide Industries has appointed Avik Kumar Roy as its new Managing Director and Chief Executive Officer, the company announced in an official filing after the Board of Directors met earlier today. He takes over from Subir Chakraborty, who will retire today (30 April).
Exide Industries Q4 profit jumps 37% on recovery in OEM demand, replacement market and EV battery initiatives
Exide Industries delivered a strong Q4 performance. It’s net profit increased 37% YoY to Rs 284 crore from Rs 208 crore in Q4FY23,. Its Q4FY24 revenue came in at Rs 4,009 crore, up 13% YoY from Rs.3,543 crore in Q4FY23. The Q4 performance was powered by strategic initiatives to boost sales and control costs and make the business better geared to tackle future trends. Q4 EBITDA margin increased to 12.9% from 10.4% in the same quarter last year.
📝 Manufacturing sector witnessing uptick in fresher hiring
📝 Uno Minda brings Clarton’s premium C80 trumpet horn to Indian aftermarket
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🌢 Fuels, Lubricants & Charging Stations
BP appoints Kartikeya Dube as India head
New Delhi: BP on Tuesday announced the appointment of Kartikeya Dube as the new India head, replacing long-time executive Sashi Mukundan who is retiring. In a statement, the company said Dube has been appointed Head of Country (HoC) and senior vice president (gas and low carbon) for India with effect from July 1, 2024.
Indian Oil Corporation Q4 results: Net profit down 52% on year; declares dividend of Rs 7/share; Here are all other details
Indian Oil Corporation in Q4 of FY24 reported a fall of 52% on year in its net profit standing at Rs 4,837.69 crore Vs Rs 10,058.69 crore it posted in the same period a year ago.
India's oil import bill could swell to USD 101-104 bn in FY25: ICRA
India's net oil import bill could widen to USD 101-104 billion in current fiscal from USD 96.1 billion in 2023-24 and any escalation in the Iran-Israel conflict could impart an upward pressure on the value of imports, ICRA said on Tuesday. The domestic rating agency said based on its analysis, lower value of Russian oil imports is estimated to have led to savings of USD 7.9 billion in 11 months (April-February) of 2023-24, up from USD 5.1 billion in 2022-23.
BII commits $19 to charge zone for EV infrastructure
Charge Zone has secured a $19 million (Rs. 1.58 crore) commitment from British International Investment (BII), the UK’s development finance institution (DFI) and impact investor. This investment marks a milestone in Charge Zone’s mission to revolutionize electric vehicle infrastructure in India.
📝 Indian Oil Corporation to Invest Rs 5,215 cr in green power
📝 India revises windfall tax to Rs 8,400 per tonne, effective May 1
📝 India buys more Russian, less Saudi oil in April
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💸 Finance & Insurance
📝 How to claim car insurance after an accident or natural calamity
📝 Shriram Group in talks with partners for wealth management biz foray
Read More >>
📖 Magazines News
Ducati DesertX Rally launched at Rs 23.7 lakh
Source Credit: Autocar India
The Ducati DesertX has already built a reputation for being one of the best off-road-focused premium middleweight ADVs. That didn’t stop Ducati from pushing the platform even further last year with the debut of the DesertX Rally, and this bike has now been launched in India.
Mahindra XUV 3XO vs rivals: specifications compared
Source Credit: Autocar India
Mahindra recently launched the XUV300 facelift in the Indian market as the new XUV 3XO that rejoins the ever-growing compact SUV segment. The XUV 3XO gets a major design overhaul inside-out, new class-leading features and safety tech, as well as a new gearbox. Let’s take a look at how the new Mahindra XUV 3XO stacks up against all its rivals in terms of size, powertrain as well as pricing.
Mahindra XUV 3XO price, variants, features explained
Source Credit: Autocar India
Mahindra launched the new XUV 3XO (formerly XUV300) with prices ranging between Rs 7.49 lakh to Rs 15.49 lakh, ex-showroom India. It gets an all-new front and rear design, new interior with more features, and new powertrain options as well. The XUV 3XO also adopts a new trim nomenclature (similar to the XUV700) and is now available in nine trims – MX1, MX2, MX2 Pro, MX3, MX3 Pro, AX5, AX5 L, AX7 and AX7 L. Here, we take a close look at what features and engine options you get with each trim.
Feature: Porsche 911 on ice: drive experience
Source Credit: Autocar India
It was supposed to be a once-in-a-lifetime experience, an important checkmark off my bucket list, but as it turned out, it became a twice-in-a-month occurrence. Hardly had I returned from an unforgettable couple of days driving on ice in the Audi RS4, I found myself back on the same Finnair flight to Kittilä within a month. I never imagined I would be visiting this remote Finnish town in the Arctic wilderness more frequently in a month than going to Pune. It’s also a good reminder of the perks the best job in the world offers, and why I wouldn’t trade it for anything else.
Hyundai India to launch hybrid cars, SUVs by 2027
Source Credit: Autocar India
Hyundai Motor India, the second largest carmaker in the country, is set to enter the hybrid vehicle segment in the coming three years. Amid growing demand for hybrid vehicles globally and in India, the Hyundai is looking to add hybrid powertrain as part of its electrified future in India, which is a departure from pure EV future planned in the past, say sources.
2024 Harley-Davidson big bike range launched; prices start from Rs 13.4 lakh
Source Credit: Autocar India
Hero MotoCorp and Harley-Davidson have announced the line-up of imported Harley bikes that will be sold in India, along with their prices. The brands have confirmed ten bikes will be coming to the country this year. Some of these bikes are existing models, while others are freshly updated. The most affordable of the big bike range will be the Nightster, which is priced at Rs 13.39 lakh. On the other end of the spectrum, there’s the new Harley-Davidson Road Glide, which is priced at Rs 41.79 lakh ex-showroom.
Ampere Nexus electric scooter launched at Rs 1.10 lakh
Source Credit: Autocar India
Greaves Cotton-owned Ampere Electric has just launched its new Nexus electric scooter, which is its most premium offering to date.
Skoda Kushaq, Slavia get six airbags as standard
Source Credit: Autocar India
Skoda has updated both the Slavia and the Kushaq with six airbags as standard across the range. This, expectedly, is accompanied by a slight increase in prices, with the Kushaq now ranging between Rs 11.99 lakh-19.79 lakh, while the Slavia is priced from Rs 11.63 lakh-18.83 lakh, all prices, ex-showroom, India.
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📰 International News
Supreme Court rejects Musk appeal over tweets that must be approved by Tesla
The Supreme Court has rejected an appeal from Elon Musk over a settlement with securities regulators that requires him to get approval in advance of some tweets that relate to Tesla, the electric vehicle company he leads. The justices on Monday did not comment in leaving in place lower-court rulings against Musk, who complained that the requirement amounts to "prior restraint" on his speech in violation of the First Amendment.
Production at three Stellantis plants hit by strike to restart in early May
Production at three Stellantis assembly plants in Europe will restart in the first days of May, a spokesman said on Tuesday, after the automaker found alternative solutions for the sourcing of parts.
Charge Zone to speed up EV charging network expansion with UK institutional investment
New Delhi: Charge Zone, a leading electric vehicle (EV) charging network has secured a USD 19 million commitment from British International Investment (BII), the UK’s development finance institution (DFI) and impact investor.
Sodium batteries from Michigan to challenge lithium’s grip
Modern life runs on lithium-ion batteries, powering smartphones, laptops and electric cars alike. But as dominant as they’ve become, there are other ways to build a battery.
Elon Musk lays off Tesla senior executives in fresh job cuts: Report
Elon Musk is thinning Tesla's senior management and laying off hundreds more employees, frustrated by falling sales and the pace of layoffs so far, The Information reported early Tuesday, citing an email sent by the CEO to senior executives.
Electric cars pile up at European ports as Chinese firms struggle to find buyers
China's automotive industry has revolutionised over the past decade, from producing basic western clones to making cars that equal the world's best. As the manufacturing powerhouse of the world, China is also producing them in huge volumes. However, Chinese cars are facing difficulties in finding buyers in Europe. Imported cars, many of which are Chinese electric vehicles, are piling up at European ports, with some spending up to 18 months in port car parks as manufacturers struggle to get them onto people's driveways.
Codelco plans lithium exploration in Pedernales salt flat in late 2024
Chile's state-run Codelco plans to begin lithium exploration in the country's Pedernales salt flat in the second half of the year, as part of the copper miner's nascent efforts to mine the white metal, Chairman Maximo Pacheco said on Monday.
📝 Chipmaker NXP forecasts Q2 profit above estimates on industrial demand recovery
📝 Tesla's California registrations down second quarter in a row, dealer data shows
📝 China's EV giant BYD misses Q1 revenue estimates
📝 China backing Elon Musk on full self-driving revs up Tesla shares
📝 Tesla to cut hundreds more jobs in Musk cost push
📝 Elon Musk disbands Tesla EV charging team, leaving customers in the dark
📝 Mercedes-Benz to ditch next-gen Apple CarPlay for exclusive OS, CEO reveals
📝 Tesla's self-driving bid for China faces rivals racing ahead
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