Top Indian Automobile Industry News & Updates - 11 Nov 2023,Saturday

🏢 Industry

Uber comments on proposed ban on non-Delhi registered cabs
With pollution on the rise in the nation’s capital, the government is looking at ways to regulate traffic to fight the cause, and one of the proposed measures is to ban cabs that are not registered in Delhi from entering the capital.
Industrialists worried over ban on heavy vehicles
The Pimpri Chinchwad traffic police’s decision to prohibit entry of heavy vehicles within city limits has not gone down well with industrialists, as they claim it is impacting their business ahead of Diwali.
CarTrade shares jump 13% on strong Q2 earnings, hit 52-week high
Shares of CarTrade Tech jumped over 13% to hit their 52-week high of INR 825 on the NSE on Friday following the September quarter earnings posted by the company on Thursday where the online classifieds and auto auction platform reported a 44% jump in its revenue growth and a 132% growth in profit after tax (PAT).
Festive demand leads to best-ever passenger vehicle, three-wheeler dispatches in October
Passenger vehicle wholesales surged to a record high in October riding on robust festive season demand, auto industry body SIAM said on Friday. The overall passenger vehicle dispatches to dealers last month rose 16 per cent year on year to 3,89,714 units as compared to 3,36,330 units in October 2022.
Understanding why India is witnessing rapid EV adoption
New Delhi: The global electric vehicle (EV) sector is booming with an anticipated annual growth rate of 15.9% up to 2035 when sales are expected to reach 51.6 million units. This vindicates the rapid electrification of the global transport industry and the shift to low-carbon alternatives, leaving behind the traditional internal combustion engine (ICE) vehicles.
Vehicle production, sales set new record in Oct 2023; PVs at new high: SIAM
New Delhi: The combined production of Passenger Vehicles, Three-wheelers, Two-wheelers, and Quadricycles in October 2023 reached a total of 26,21,248 units. Notably, the Passenger Vehicle segment achieved an impressive year-on-year (YoY) growth of 15.9%, setting a new record, the Society of Indian Automobile Manufacturers (SIAM), said on Friday.
M&M’s standalone Q2 PAT rises 79% on good auto sales
New Delhi: Mahindra & Mahindra Friday reported its consolidated profit after tax (PAT) as INR 2,348 crore for the quarter ended September 2023 as against INR 2,773 crore in the corresponding period of last year.
Delhi HC stays DRI order against Hero MotoCorp chairman Pawan Munjal
New Delhi: In a turn of events, a big sigh of relief has come for Hero MotoCorp Chairman Pawan Kant Munjal from the Delhi High Court (HC), which has stayed the proceedings relating to foreign currency registered against Munjal by the Directorate of Revenue Intelligence (DRI).
We challenge OEMs to invest in India, compete with us: M&M's Anish Shah
New Delhi: As talks of an imminent import duty cut on electric vehicles intensifies, Mahindra Group managing director and chief executive Anish Shah on Friday told Mint that it would like to “throw open a challenge" to global carmakers to “invest in India and compete with us", responding to a query on how such a decision would impact domestic original equipment manufacturers’ (OEMs) grounds-up EV plans.
Automobile, appliances & consumer goods companies witness high double-digit growth on Dhanteras
New Delhi, Automobile manufacturers, consumer goods companies and appliance makers on Friday reported blockbuster sales during Dhanteras and expect the trend to continue for the next three days. The manufacturers have reported a high double-digit growth during pre-Diwali Dhanteras sales, in comparison with the same period last year, led by enhanced attractive offers and schemes.
CP Gurnani to step down as director on Mahindra board
Mahindra & Mahindra on Friday said CP Gurnani has resigned as the non-executive non-independent director of the company with effect from December 20, 2023 coinciding with his retirement as the Managing Director and CEO at Tech Mahindra.
Indian automaker Force Motors' Q2 profit soars on strong demand
Indian automaker Force Motors reported a nearly five-fold rise in second-quarter profit on Thursday, helped by strong demand for its multi-seater vans and buses.
Ministry of Corporate Affairs could widen probe into MG Motor India books
In late 2023, MG Motor India was served an MCA notice to provide information about their accounts in the company's first year of operations in 2019-20.
Govt identifies high fleet emission levels in major car makers; stiff penalties recommended
At a time when several cities are grappling with pollution, the government has identified elevated fleet emission levels in leading car manufacturers, including Hyundai, Kia, Honda Cars, Renault, Skoda Auto, Volkswagen India, and Nissan, surpassing the prescribed standards, reported TOI.
Carmakers in India may be penalised for violating emission norms; Hyundai, Kia, Honda among target brands
According to a report in TOI, car manufacturers like Kia, Hyundai, Renault, Skoda, Volkswagen and Nissan have been found violating mandated fleet emission levels by the Bureau of Energy Efficiency (BEE) which has recommended to the central government to impose a heavy penalty. The source-based report further highlights that these car makers will have to immediately move towards vehicles that are either less polluting or run on greener sources of energy.
ED attaches assets worth Rs 24.95 cr of Hero Moto’s Pawan Munjal in money laundering probe
Source Credit: The Economic Times

The Enforcement Directorate has attached three immovable properties worth Rs 24.95 crore of Hero MotoCorp executive chairperson Pawan Kant Munjal as part of the ongoing money laundering probe, the federal agency said on Friday.

Munjal has been accused of using foreign currency issued in the name of others for his personal expenditure abroad to "override" RBI rules.

It claimed that the foreign currency/foreign exchange was drawn from authorised dealers by an event management company in the name of various employees and thereafter "handed over" to Munjal's relationship manager.

"The relationship manager carried such foreign currency/foreign exchange in cash/card secretly, for the personal expenditure of Pawan Kant Munjal during his personal/business trips. The modus was adopted to override the limits of $2.5 lakh per annum per person under the Liberalised Remittance Scheme (LRS)," the ED alleged.

The ED said that the total value of seizure and attachments now stands approximately at Rs 50 crore. "The prosecution complaint alleges that foreign currency/foreign exchange equivalent to Rs 54 crore was illegally taken out of India," the ED said.

The Delhi High Court, in an order issued on November 3, stayed proceedings of the DRI, on which the ED case is based.

In an interim order, the high court noted that Munjal has been exonerated by the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) on the same set of facts and this was not disclosed before the trial court and that the petitioner has been able to make out a case for interim protection.

A First Information Report (FIR) was filed in October on a complaint alleging forgery, falsification of accounts, criminal conspiracy, and cheating by certain officials of Hero MotoCorp.

The FIR named Pawan Munjal, and Hero MotoCorp executives Vikram Kasbekar and Hari Gupta.

However, the company said in a statement on the exchanges that this case is an old matter and pertained to the year 2009-10 with a disgruntled service provider, Brains Logistics, a former vendor of Hero Honda Company, alleged that the accused colluded to and committed “the illegal acts of forgery, cheating and falsifying the books…and manufactured fake month-wise bills”. These bills, totalling Rs 5.95 crore for 2009 and 2010 were debited to the complainant, it alleged.

Separately, in August this year, the ED had conducted searches on Munjal and some others as part of an investigation into an alleged money laundering case.

The searches were carried out at the residential and business premises of Munjal in Delhi and Gurgaon, and some linked entities.

In a statement, the company had at the time said, “Officials from the Enforcement Directorate (ED) today visited two of our offices in Delhi and Gurugram and the residence of our executive chairman Dr Pawan Munjal. We continue to extend all cooperation to the agency.”

The case registered by ED originated from a complaint filed against Munjal by the Directorate of Revenue Intelligence (DRI), the investigation branch of the Central Board of Indirect Taxes and Customs (CBIC).
https://economictimes.indiatimes.com/news/india/ed-attaches-assets-worth-rs-24-95-cr-of-hero-motos-pawan-munjal-in-money-laundering-probe/articleshow/105115964.cms
ED attaches Rs 24.95 cr worth properties of Hero MotoCorp's Pawan Munjal
PV sales rise to record high levels in October: SIAM data

Sales of passenger vehicles increased in strong double-digits to its highest ever levels last month amid an improvement in supplies and strong customer demand in the ongoing festive season.
Soon, all vehicle companies must install in-built collision warning signal

New Delhi: India would soon mandate passenger and commercial vehicle manufacturers to install an in-built 'moving off information system (MOIS)' in certain categories of four-wheelers to significantly reduce the possibility of collision with pedestrians and cyclists in close proximity.
Delhi, 4 more opt for direct debit in state e-bus scheme
 
Karnataka releases revised draft EV policy, aims to attract ₹50,000 crore investment
 
Hero MotoCorp's Munjal used others' forex for self-expenditure abroad: ED
 
📝  Tesla's India arrival advances as Piyush Goyal set to meet Elon Musk during US visit
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🚗 Cars / SUVs

50% of Maruti Suzuki’s CNG sales come from Ertiga, more demand for larger cars: Shashank Srivastava
The Maruti Suzuki Grand Vitara CNG is available with a 1.5-litre petrol engine, bringing lower running costs to the premium SUV
Planning to buy a car this Diwali? Here are 5 cars with almost nil waiting period
Several prospective customers consider buying a new car during the Diwali festive season. However, due to higher demand, shortage of semiconductors, and disruptions in the supply chain, the waiting period for certain popular car models remains very high.
Hyundai India doubles Dhanteras vehicle deliveries to 10,293 units
New Delhi: The first day of the three peak days this festive season turned out rather celebratory for India's second largest passenger vehicle manufacturer, Hyundai Motor India.
Scorpio-N, XUV700 SUVs boost Mahindra's profit in Q2 despite nearly 3 lakh pending bookings
Mahindra and Mahindra said that demands for its SUVs remain strong even during the festive season from October through November. This factor, along with improving situation on chip shortage crisis, have helped the carmaker to increase its production as well as sales during this period which clocked revenue of ₹2,431 crore. Rajesh Jejurikar, Executive Director and CEO (Auto and Farm Sector) at Mahindra and Mahindra, said, "We have maintained our SUV revenue market share at 19.9 per cent while further improving our auto standalone PBIT margins."
Top 10 cars sold in October: WagonR beats Swift and Baleno to top chart, Scorpio enters fray
1 Maruti WagonR 
Save up to Rs 75,000 on cars under Rs 8 lakh: Big Diwali discounts on Maruti, Hyundai, Honda, Kia, Tata, Mahindra cars

A large number of Indians consider Diwali an auspicious time to make big purchases. Many people who dream of owning a car wait for this festive period to make the big-ticket purchase. To tap the higher demand, many car sellers come up with attractive discounts and deals.
SUV volumes hit a historic high of more than 2 lakh units in October
With a festive boost and easing of production constraints, SUVs posted record-high monthly volumes of more than two lakh units in October. In October 2023, total sales of SUVs (including all segments) stood at about 1.98 lakh units when compared with 1.41 lakh units in October 2022, an increase of 40 per cent.
📝  Massive discounts of up to Rs 88,000 on Honda Cars this Diwali: Details
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Electric-Cars / SUVs

Tata Curvv, Kia EV9: Here are five exciting cars coming to India next year
The year 2024 is approaching, and numerous auto manufacturers are gearing up to introduce their latest cars in the Indian market. These new cars will include both internal combustion engine vehicles and electric powertrain models. While the list of cars launching in 2024 is extensive, we have selected five upcoming cars that are expected to hit the Indian market next year.
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🚗 Luxury Cars

End of road for Volvo XC40 petrol in India?
Volvo has silently pulled the plug on the petrol-powered XC40 in India. As of now, the company’s official website lists only five models for the Indian market– four in the SUV lineup including XC40 Recharge, C40 Recharge, XC60, and XC90; and one sedan in the form of S90. 
Audi’s flagship gets a ‘minimalist’ facelift
In the world of design, often, minimalism delivers maximum results. In architecture, interior design and, of course, automobiles, minimalist design has a certain timelessness and universal appeal. Of the three German luxury car brands, Audi has been consistent with the adoption of this design principle. Though some of Audi’s model lines have tended to look a bit too similar to each other in the past, the decision to stay with minimalism as its leading design direction is paying dividends now. The language and character of many of Audi’s current model lines are more distinctive. 
Diwali Delight! Anil Kapoor drives home a luxurious Mercedes-Maybach S-Class worth Rs 2.69 cr
Anil Kapoor has got himself a new pair of hot wheels for Diwali, and it is a feast for the eyes!
📝  Lotus to bring Emira to India in 2024: Everything you need to know about this sportscar
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⛟ Commercial Vehicles

Truck owners go on day-long strike against green tax hike
New Delhi: Truck owners in the state went on a day-long strike on Thursday, demanding that the Tamil Nadu government roll back the green tax hike.
Global unrest, energy crisis may dampen Switch Mobility’s e-CV demand in EU
New Delhi: The European Union (EU) may see a slower offtake of electric vehicle (EV) sales in the region, especially for commercial vehicles (CVs). Concerns emerge amid the global energy crisis triggered by the ongoing unrest. This is something also worrying the CV maker Ashok Leyland as it may impact its EV subsidiary Switch Mobility’s global plans.
GreenLine deploys LNG-powered trucks at HZL
GreenLine Mobility Solutions Ltd, a LNG-powered heavy trucking logistics company, on Thursday said it has deployed its LNG-powered trucks at Hindustan Zinc Ltd. "In its commitment to sustainability and environmental responsibility, Hindustan Zinc has chosen Essar's green mobility solutions company, GreenLine as its sustainable logistics partner, ushering in a new era of green logistics in the metals and mining sector," it said in a statement.
Electric bus penetration may reach double-digit by the end of FY24
Chennai: The penetration of electric buses is inching up gradually in the country and is expected to reach close to double-digit by the end of this fiscal supported by various government initiatives.
📝  Ashok Leyland to invest Rs 1,200 crore in EV arm Switch Mobility: Details
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🎤 Interviews & Features

How tyres cause air pollution?
Earlier this week, talking about Delhi pollution levels, Prof Sachchida Nand Tripathi of IIT Kanpur (who is also Steering Committee member, National Clean Air Programme) told the Indian Express that vehicular pollution has two components: exhaust from the tailpipe, and from tyre and brake wear & tear.
Except for tractors, all market segments have shown demand growth: Bosch MD
Bosch Ltd, the Indian arm of German-headquartered global automotive giant Robert Bosch GmbH, reported a 12.8 per cent growth in revenues to Rs 4,130 crore in the quarter ended September 30, while profit after tax increased to Rs 999 crore, aided by a one-time gain on the sale of the mobility solutions business. Guruprasad Mudlapur, Managing Director, Bosch Ltd, and President, Bosch Group, India, and Karin Gilges, CFO, spoke to businessline on the performance of the company, as well as demand in the auto sector.

Edited excerpts:
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🏗 Construction & Agri Machinery

Tractor segment could see flat growth in FY2024 says Mahindra’s Rajesh Jejurikar
The Indian tractor segment has been witnessing robust growth over the last several quarters, but gradually there seems to be some signs of slowing down, and according to Rajesh Jejurikar, President – Auto & Farm, Mahindra & Mahindra, the tractor segment could see a flat growth in FY2024.
Sonalika Tractors records 15% market share during April-October 2023
New Delhi: India’s leading export brand Sonalika Tractors has clocked its highest ever YTD (Apr-Oct’23) overall share of 15% in the domestic market. The company recorded 18,002 overall tractor sales in October 2023.
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🏍 2/3 Wheelers

EICMA 2023: Custom-built Royal Enfield Hunter 350 showcased
The ongoing EICMA 2023 has been an exhibition of some very interesting two-wheelers. Besides concepts and pre-production models, the event has been a display of some very unique custom models. Royal Enfield, one of the many regular participants, has showcased a couple of custom-built Hunter 350.
Two-wheeler project triggers ruckus in council
The city corporation council which met on Thursday witnessed uproarious scenes after the opposition councillors alleged irregularities in the distribution of motorcycles with sidewheels to disabled people. According to the opposition, the corporation authorities bended norms to award the project to Keltron while the ruling front said that everything was done as per rules.
Eicher Motors Q2 FY24 PAT up 55% to INR 1016 cr; Royal Enfield registers highest ever quarterly revenues
Royal Enfield sold 229,496 motorcycles in the quarter, an increase of 13% from 203,451 motorcycles sold over the same period in FY23.
Aprilia RS457 prices announced — Here’s what to expect
One of the most anticipated motorcycle launches is the Aprilia RS457, which made its global debut a few months back and also during the Indian GP. Being an entry-level offering, the RS457 will compete with the KTM RC 390 and the recently unveiled Kawasaki Ninja 500, which will soon make it to India.
Top 5 two-wheelers from EICMA that may come to India soon
EICMA 2023 was a delight for two-wheeler enthusiasts, as there were a host of motorcycles and scooters showcased either in their production form or as concepts. However, only a select few will come to India and we’ve picked the top five two-wheelers showcased at EICMA that will come to India.
Royal Enfield Himalayan 450 review: A new mountain G.O.A.T
Born in the Himalayas for the Himalayas and that’s why the name ‘Himalayan’. When Royal Enfield first introduced the Himalayan back in 2016, the company itself might not have imagined such grand success for its first adventure tourer. A bike which could have been a revolution of sorts in our country and yet it somehow felt half baked. 
Eicher Motors Q2 Results: Profit surges 55% YoY to Rs 1,016 crore; revenue rises 17%
Leading auto company Eicher Motors on Friday posted a 55% growth in its consolidated net profit to Rs 1,016 crore in the September 2023 quarter from Rs 657 crore a year ago.
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🚲 Electric 2/3 Wheelers

Electric Motorcycle review: Oben Rorr : A silent bike named Rorr
The Rorr is a smart name for an electric bike — it doesn't produce a roaring sound, but hits the right note on electric mobility,. It's made by Oben, a start-up, and we rode it on roads north of Bangalore. 
Ather Energy to bring back transparent panels for Ather 450X
The Collector's Editon was introduced back in 2020 for early adopters. It came with a high-gloss metallic body finished in black. It came with red accents as well that Ather says were inspired by motorsports and there was also a racing stripe on the front apron. The wheels got a red decal and the red frame was also left exposed. The translucent panels were made with automotive-grade plastic that offers structural integrity. Apart from this, the instrument cluster also has a custom user interface.
EICMA 2023: Lambretta marks entry into EV space with Elettra electric scooter
During the 1960s and 1970s, Lambretta was a very popular scooter brand in India. However, with the inception of modern and homegrown scooters and other various factors led to the Italian brand shutting shop in India. Nevertheless, Lambretta remained a strong player in the two-wheeler space in European markets.
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⚙ Components

Kinetic Engineering posts Rs 1.7 crore profit for Q2 FY2024
Pune-based component supplier Kinetic Engineering (KEL) has reported its financial results for Q2 and H1 FY2024. 
Samvardhana Motherson Q2 Results: Profit falls 18% YoY to INR 202 cr; revenue up 28%
Leading automotive player Samvardhana Motherson posted an 18% decline in its consolidated net profit at INR 202 crore for the quarter ended September. It was INR 246 crore a year ago.
📝  Uno Minda more than doubles capex line up to around Rs 2,000 crore
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🌇 Allied Industries

Exide to invest additional funds in lithium unit
Storage battery major Exide Industries will invest INR 1,100 crore in its lithium-ion cell subsidiary, Exide Energy Solutions Limited.
Polestar 4 to integrate Luminar LiDAR with Mobileye Chauffeur
New Delhi: Polestar, the Swedish electric performance car brand, is working with Luminar, a leading automotive technology company, and Mobileye, a global leader in autonomous driving solutions, to enhance safety and the future autonomous driving capabilities of Polestar 4 with the integration of Luminar’s next-generation LiDAR technology with Mobileye's Chauffeur platform.
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🌢 Fuels, Lubricants & Charging Stations

Oil set for third weekly decline as Middle East conflict concerns ebb
Oil prices were up slightly on Friday but are set to fall for a third week as concerns of supply disruptions from the Israel-Hamas conflict have ebbed, allowing demand worries to reassert themselves.
India's ONGC posts 20% drop in quarterly profit on lower crude prices
India's state-run Oil and Natural Gas Corp (ONGC) on Friday posted a more than 20% drop in second-quarter profit, dragged down by lower prices for crude oil.
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🌍 Emissions/Environment

Emission norms: Top carmakers face strict penalties for violation
The Bureau of Energy Efficiency (BEE) is recommending fines against the companies totalling hundreds of crores of rupees for the violations. As a result, the carmakers will now need to make an immediate shift to producing greener and less polluting vehicles in order to stay within the allowed limits, it added.
Curbs on BS-III petrol, BS-IV diesel cars to stay
New Delhi: Although Delhi government put the odd-even scheme on hold, the bar on the movement of BS-III petrol and BS-IV diesel vehicles will continue since the Commission for Air Quality Management is yet to withdraw provisions of Stage IV of the Graded Response Action Plan (GRAP).
 
📝  SC says odd-even not effective to reduce pollution, leaves decision to Delhi govt
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💸 Finance & Insurance

📝  Why buying insurance for electric vehicles can be tricky
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📖 Magazines News

Next-gen Renault Duster design leaked ahead of November 29 debut
Source Credit: Autocar India

The new Renault Duster’s final design has been revealed via a fresh set of patent images that have surfaced online. The global debut of the Duster will take place on November 29, 2023, in Portugal. 
Mahindra notches 51,000 monthly bookings, has 2.86 lakh order backlog
Source Credit: Autocar India

Mahindra continues to enjoy a strong demand for its brand and is garnering an average of 51,000 units booking every month over the last few months.
EICMA 2023: What's relevant for India?
Source Credit: Autocar India

EICMA is the place where two-wheeler manufacturers always reveal new and interesting bikes and scooters and this year’s show was no exception. Here we’ll tell you which two-wheelers from the show will make their way to India. 
Budget Diwali rockets: 5 quickest cars under Rs 15 lakh
Source Credit: Autocar India

Celebrating Diwali with rockets is about as traditional as you can get, which is why we’re celebrating with our list of affordable rockets on four wheels. Whether you’re in the market for one or just need to settle a bet, here are the five quickest cars to sprint to 100kph on a Rs 15 lakh budget. Do note that we've only included cars that have undergone Autocar India’s rigorous tests.
2024 Royal Enfield Himalayan review: Scaling new heights
Source Credit: Autocar India

Some motorcycles have lovely inception stories and the new Himalayan easily finds a place in this list. Hardly a year into the launch of the original Himalayan 411, a small group of engineers at Royal Enfield’s newly minted Technology Centre in the UK had a ‘what- if’ moment, and they stuck an unnamed rival’s liquid-cooled engine into a Himalayan chassis. They must have felt like they were onto something, because that led to the creation of a new one-off engine and a prototype frame made to house this motor. The rest is history, and six years (plus one pandemic) later, here we are – riding the most radically different motorcycle modern-day RE has ever made.
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📰 International News

EICMA 2023: Moto Morini X-Cape 1200 and Milano 1200 makes global debut
While the specs of the new motorcycle have not been unveiled, it is expected to be the Balbero CorsaCorta V-Twin engine which has a capacity of 1,187 cc and is liquid-cooled. The manufacturer will have to modify the engine so that it complies with Euro 5 emission norms. In its previous iterations, the engine used to produce around 116 bhp of max power and 104 Nm of peak torque. Moto Morini calls the new iteration of the engine “V2 Corsa Corta EVO".
Volkswagen: lack of parts hampers EV production at Zwickau plant
Volkswagen is pausing the production of a number of electric vehicle models at its Zwickau plant for an estimated three weeks due to a shortage of electric motors, the German automaker said on Thursday.
UAW workers at GM's Flint plant narrowly vote against new labor deal
United Auto Workers (UAW) union members at General Motors' Flint assembly plant in Michigan have narrowly voted against a proposed contract with the U.S. automaker, the local chapter said.
EU set to weaken new car, truck pollution rules
New European Union pollution rules for combustion engine cars and trucks are set to be less ambitious than originally planned, after lawmakers voted on Thursday to delay and weaken some of the regulations.
Toyota Indiana begins production of new Lexus TX SUV
New Delhi: Toyota Indiana Thursday celebrated a major milestone as the plant started production of the first-ever Lexus TX, an all-new, three-row luxury SUV.
New Mini John Cooper Works Countryman comes with high-performance engine, 4-wheel drive
New Delhi: The Mini John Cooper Works models have always been known for their exhilarating performance. With its 2.0-litre four-cylinder engine, the new Mini John Cooper Works Countryman embodies this unmistakable driving experience.
Production of Polestar 4 to start in Busan, South Korea, in 2025
New Delhi: Polestar, the Swedish electric performance car brand, confirms the next step in diversifying its manufacturing footprint. Manufacturing of Polestar 4 in Hangzhou Bay, China, will be complemented with manufacturing in Busan, South Korea, expected to start during the second half of 2025.
Hyundai to open first urban mobility hub in Singapore on Nov 21, 2023
New Delhi: Hyundai Motor Group (the Group) has revealed the initial details of the Group’s first smart urban mobility hub. Located in Singapore, Hyundai Motor Group Innovation Center Singapore (HMGICS) will redefine the future of mobility production and set new standards in customer experience when it opens on November 21, 2023.
Honda awarded project to develop Ohio road condition management system
New Delhi: DriveOhio, the smart mobility hub of The Ohio Department of Transportation (ODOT), has awarded over USD 700,000 for a two-year research project led by Honda and three technology partners – i-Probe Inc., The University of Cincinnati, and Parsons.
Japan to spend USD 13 bn to boost domestic chip production
Japan's government said on Friday that it plans to spend 2 trillion yen (USD 13 billion) to boost domestic production of strategically important semiconductors and generative AI technology.
Pirelli sees FY operating profit at top end of forecast despite Q3 drop
Italian tyremaker Pirelli said on Thursday its operating profit would come in at the higher end of its forecast range this year despite slightly falling in the third quarter.
SMIC sees Chinese chip market stabilising as profits slump
China's SMIC on Friday shrugged off a more than 70% drop in net third-quarter profit, saying it expected Chinese semiconductor demand to stabilise soon, and increased its annual capital expenditure forecast to about USD 7.5 billion.
US President Joe Biden backs auto union for Tesla, may trigger friction with the EV maker ahead of elections in 2024
Biden spoke to UAW workers in Belvidere, Illinois, as the Democratic president tries to rally support for his economic agenda and firm up sagging popularity numbers, ahead of a re-election campaign next year.
Toyota Camry hybrid to Ford Mustang special edition: Cars to debut at Los Angeles Auto Show
Toyota Camry hybrid AWD:
📝  Elon Musk's autopilot Tesla software under radar as whistleblower leaks data
📝  Why Europe has agreed to weaken ‘Euro 7’ emission rules for cars and trucks
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