New Delhi: The adoption of solar rooftop technology is not just giving a fresh look to the rooftops of the Indian households and generating electricity for them, but also reshaping carmaker Tata Motors' electric vehicle (EV) business strategy.
The market leader in the electric passenger vehicle segment suggests there is a clear value the rooftop solar users are finding in EV adoption.
“Solar rooftop installations are creating a pull for EVs. Certain states like Gujarat and Rajasthan have been active in solar energy adoption since the days of solar cookers. Our focus on sales is to prioritize those states which already have good solar rooftop penetration,” Balaje Rajan, Chief Strategy Officer, Tata Passenger Electric Mobility (TPEM) and Tata Motors Passenger Vehicles (TMPV), said.
The maker of Nexon EVs is working to create a “bundled offering for EVs and rooftop solar to provide tangible financial benefits to consumers”.
Among top 10 most-valued auto firms globally, TaMo drives into elite club
Last week, Nomura raised the price target for Tata Motors from Rs 1,141 to Rs 1,294 with a ‘buy’ rating. The target price offers a 12 per cent upside from current levels. The brokerage said JLR’s execution can lead to significant upsides for the stock. This coupled with the proposed demerger will unlock value for the commercial vehicle business, Nomura added, re-rating the stock to 11 times its enterprise value-to-Ebitda from 10 times.
M&M expected to post strong revenue growth driven by volumes in automobile and farm sectors
EV laggard Honda’s two-wheel rivals are leaving it in the dust
Motown's slow ride: Car sales in Gujarat hit speed bump in H1 of 2024
Gujarat has reported stagnant retail car sales in H12024, which was in stark contrast to the 8 per cent year-on-year (Y-o-Y) growth the state witnessed in H12023.
Auto sales: Strong double-digit growth in seen two-wheeler sales; PV sales to rise marginally
Automobile wholesales in July 2024 are expected to witness decent growth led by better retail and inventory build-up. Retail demand trends remained mixed during the month on the back of incessant rainfall witnessed in many parts of the country, which led to lower footfalls, and the lack of events or festivities, analysts said.
📝 Industries Minister MB Patil says Toyota with Karnataka as automakers big ticket investment in Maharashtra sparks concerns
📝 Sansera signs MoU with Karnataka to set up manufacturing facility at Rs 2,100 Crore
📝 Maruti Suzuki to Maserati: SUV mania grappling automakers in India. Here's why
📝 Tata Motors Q1 Preview: PAT may jump 48% YoY; JLR to put up a decent show
📝 26.3 lakh vehicles recalled since 2021 to correct faults, govt informs Rajya Sabha
📝 Mahindra & Mahindra posts bigger adjusted profit on strong car, tractor sales
Read More >>
🚗 Cars / SUVs
Made in India Renault Triber gets two-star rating in the GNCAP tests
The Global New Car Assessment Program (GNCAP) conducted safety crash tests on the India-manufactured Renault Triber intended for African markets. Unfortunately, this affordable MPV in the Indian market was awarded a disheartening two-star rating for occupant safety.
Tata Curvv rival Citroen Basalt interior revealed in teaser
The Citroen Basalt is an anticipated launch, as the C3 Aircross-based SUV will compete directly against the Tata Curvv, another highly anticipated car launch from Tata Motors. While many details have been revealed, the interior of the Basalt has been under wraps for a long time, until now.
Maruti Suzuki Q1 profit surges 48% to ₹3,759 crore amid cost cuts and favourable commodities
New Delhi: The country’s largest car maker, Maruti Suzuki India (MSIL), on Wednesday reported a consolidated net profit of ₹3,759 crore for the first quarter (Q1) ended June 30, a year-on-year (YoY) growth of 48 per cent as compared to ₹2,542 crore in the corresponding period last year. This was broadly on account of cost reduction efforts, favourable commodity prices and foreign exchange, the company said.
Maruti Suzuki expects to declare healthy growth in Q1 FY25
New Delhi: Country’s largest car maker Maruti Suzuki India (MSIL) is expected to declare a healthy growth in its first quarter results ended June 30. According to analysts, its net profit is expected to rise by around 32 per cent year-on-year (YoY) to ₹3,295 as compared with ₹2,485 crore in the corresponding quarter last year. Revenue is also expected grow at ₹34,540 crore versus ₹30,845 crore in April-June quarter last year.
India-made, South Africa-spec Suzuki Ertiga scores 1-star safety rating at Global NCAP
Maruti Suzuki may not have a strong say when it comes to safety, but the manufacturer has been making efforts to amend its image. However, it still seems like a distant future for the carmaker. The South Africa-spec Ertiga has scored for 1-star safety in the latest bout of safety crash tests by Global NCAP.
Maruti Suzuki profit increases 47% to INR 3,650 cr in Q1 FY25
Maruti Suzuki India reported a 47% jump in its net profit to INR 3,650 crore for the April-June quarter, driven by cost reduction efforts, favourable commodity prices, and foreign exchange gains. The auto major had recorded a net profit of INR 2,485 crore in the same quarter last fiscal.
Toyota Kirloskar Motor to establish INR 20k cr manufacturing plant in Maharashtra
Automaker Toyota Kirloskar Motor will establish a new manufacturing plant in Maharashtra with an investment of around INR 20,000 crore. The decision follows a Memorandum of Understanding (MoU) signed with the Maharashtra government to explore a greenfield facility at Chhatrapati Sambhaji Nagar, the company announced on Wednesday.
Mahindra Marazzo returns on official website: New Prices
At the beginning of July, Mahindra had removed the Marazzo from its official website, sparking rumours and premature obituaries for the MPV, speculating on its inability to succeed in the market. However, Mahindra has quelled these rumours by reinstating the Marazzo on the website, complete with new and updated pricing.
Maruti Suzuki sees 48% profit surge, unveils plans for 6 EVs by 2031
The automaker’s earnings soared to Rs 3,759.7 crore, up from Rs 2,542.9 crore in the April-June quarter of the previous year. That surpassed Bloomberg’s consensus forecast of Rs 3,272 crore.
📝 Skoda SUV contest: Co shortlists 10 names starting with K, winner to get new car & a ticket to Prague
📝 Mahindra looks to add five-door Thar production capacity by 4,000 units per month
📝 Mahindra Thar Roxx: Here are top features it gets from XUV 3XO
📝 Mahindra XUV700 bookings see 40% jump since special price reductions
📝 Maruti Ertiga and Renault Triber underperform in Global NCAP safety assessments. Check ratings for MPVs
📝 Looking to buy Mahindra XUV700? Here are 5 used car alternatives instead
📝 Tata Nexon's top variants available with discounts for limited period. Know more
📝 Hyundai Exter Hy-CNG Duo starts reaching dealerships, deliveries to start soon
📝 2024 Nissan X-Trail SUV to launch: Price expectation
📝 Mahindra Thar Roxx interior spied before launch: How it's different from 3-door Thar
📝 Most affordable SUV cars with panoramic sunroof in India
📝 Honda plans to develop global platform for future models in India, production of new-gen city to start in…
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⛟ Commercial Vehicles
Delhi: AIIMS introduces 14-seater low floor e-bus services to enhance last-mile transportation
The All India Institute of Medical Sciences (AIIMS) New Delhi is introducing electric buses (eBuses) to offer efficient last-mile transportation from nearby metro stations and bus stops to various facilities within the campus. This service aims to address issues related to long walks, expensive autorickshaws, and the lack of transport options for patients and their attendants, making campus travel easier and more convenient.
Ashok Leyland stock climbs to new peak
Chennai: Shares of Ashok Leyland have been on the fast lane of late. As analysts remained bullish on the company, post its Q1 financial performance, the stock hit an all-time high of ₹258.95.
Read More >>
🎤 Interviews & Features
Mahindra Thar Roxx interiors revealed
Mahindra Thar Roxx launch is around the corner and new details are emerging daily. Recent spy images have unveiled the five-door Thar Roxx cabin showcasing the front and the rears along with the dashboard layout. Mahindra has confirmed that the Thar Roxx will be unveiled on August 15.
The e-SCV market is a promising one to be part of: MD of TI Clean Mobility
Chennai: Murugappa Group’s electric vehicle company, TI Clean Mobility Private Ltd (TICMPL), a subsidiary of Tube Investments of India Ltd (TII), began its foray into electric mobility with the unveiling of the electric 3W Montra in 2022. Within a year, it captured about one-third of the market share in the electric autorickshaw segment in the southern region (7% is all India share). The company is preparing to launch its first 4-wheeled electric small commercial vehicle (e-SCV) in the next couple of months. Kalyan Kumar Paul, Managing Director of TI Clean Mobility spoke to businessline about the opportunity in the e-SCV market and the company’s strategy:
Excerpts.
📝 M&M expected to outperform industry growth this year, especially in PV segment: Abhishek Gaoshinde
📝 3 FMCG stocks Hemang Jani is bullish on for near term
📝 Buy Mahindra Thar or wait for Thar Roxx five-door version? Here's a quick check
📝 PE re-rating room very limited in PSU space: Gautam Sinha Roy
Read More >>
🏍 2/3 Wheelers
New Yezdi Adventure vs Royal Enfield Himalayan spec check
Yezdi has launched the updated Adventure in India at Rs 2.10 lakh ex-showroom, which is Rs 6,000 cheaper than the previous model. That said, the 2024 Yezdi Adventure gets a few design updates in terms of graphics and bodywork, while it also gets new colour options.
TVS unveils special edition Ronin Parakram
TVS Ronin unveiled the new custom-built Kargil Edition motorcycle, the TVS Ronin Parakram which was unveiled at the Silver Jubilee of Kargil Diwas. This special edition Ronin was created by East India Motorcycle Revolution Customs, which gets customised design and unique paintwork.
Royal Enfield launches global warranty programme
Royal Enfield, the global leader in the mid-size (250-750cc) motorcycle segment, has launched ‘Borderless Warranty Program’, offering riders unprecedented freedom to ride and conquer new horizons across the globe.
Updated Royal Enfield Classic 350 launch confirmed on August 12
Royal Enfield will be launching an updated iteration of Classic 350 on August 12. The Chennai-based bikemaker has confirmed the same by sending us a block-your-date invite for the same. The Classic 350 is the highest selling motorcycle for Royal Enfield generating an average volume of 20,000 units per month.
New Yezdi Adventure launched in 4 variants; price starts at INR 2.1 Lakh
Jawa Yezdi Motorcycles has introduced the new Yezdi Adventure motorcycle, revamped for more daring adventures, in four variants with prices starting at INR 2,09,900 (ex-showroom Delhi). The variants include Tornado Black at INR 2,09,900, Magnite Maroon DT at INR 2,12,900, Wolf Grey DT priced at INR 2,15,900, and Glacier White DT at INR 2,19,900.
📝 Interview: “Not looking to go the Harley way in India," Indian Motorcycles boss
Read More >>
🚲 Electric 2/3 Wheelers
Here's why Honda is losing the electric two-wheeler race in Indian market
Which automotive company, more than any other, is responsible for getting the world’s population moving?
Ola Electric to focus sharply on two-wheelers, cars not on agenda
Ola Electric founder Bhavish Aggarwal in 2022 had said that the firm was planning to launch an electric sports car in 2024. Aggarwal had said the Ola Electric car, with an all-glass roof, will be one of the fastest cars in India and can go from 0 to 100 km/h within 4 seconds.
Revolt Motors delivers RV400 bikes to Korba-based Floramax
New Delhi: Revolt Motors, an electric motorcycle company, has delivered RV400 bikes to the employees of Floramax in Korba, Chhattisgarh, as part of corporate sales.
Bajaj Chetak Electric Scooter bookings cross 20,000 in July
Bajaj Auto Ltd.’s Chetak Electric Scooter brand received 20,000 bookings in July 2024. The newly-launched Chetak 2901’s success is attributed to factors like its solid metal body, a value price point starting at INR 95,998/- (ex-showroom Bengaluru, and expansion to smaller towns and villages. The reach of Chetak Experience Centers and Bajaj dealerships in smaller towns played a crucial role in improving access to the legacy brand, which has been reinvented in a modern electric avatar.
Ola Electric’s IPO: charging ahead or running on empty?
Ola Electric Mobility is expected to electrify the stock market with its highly anticipated initial public offering of shares set to kick off on Friday. But as investors buckle up for what could potentially be this year’s biggest IPO ride, the critical question is if Ola Electric will make for a fully charged investment or run into a speed bump.
Bajaj Auto, TVS lead the charge in electric two-wheeler sales surge
Incumbent two-wheeler players Bajaj Auto and TVS Motor Company have upped the ante in their battle for the electric two-wheeler (e2W) sweepstakes on the back of expanding distribution and their entry into the sub-Rs 1 lakh segment for the first time.
📝 Electric two-wheeler makers brace for life without subsidy
📝 Ather Energy to sign long-term battery supply contract with Amara Raja
Read More >>
⚙ Components
Sundram Fasteners Q1 FY 25 PAT up 16.7% to INR 131.64 cr
The Chennai-based Sundram Fasteners Limited Wednesday reported its highest ever revenue from operations at INR 1,310.33 crore for the quarter ended June 30, 2024, compared to INR 1,216.95 crore during the same period in the previous year, registering a growth of 7.7% led by strong export performance.
Sansera Engineering inks ₹2,100 crore MoU with Karnataka
Read More >>
🌇 Allied Industries
Tata names new Curvv TGDi engine Hyperion
Tata Motors has officially revealed the name of the new TGDi turbo petrol engine, which will power the internal combustion engine Curvv. The Indian automobile manufacturer is set to launch the all-electric Curvv on August 7 and the ICE version later in the year.
Shanti Gears Q1 Results Live : profit rise by 19.54% YOY
Shanti Gears Q1 Results Live : Shanti Gears declared their Q1 results on 29 Jul, 2024, with the topline increasing by 14.3% and the profit increasing by 19.54% YoY.
'Opportunistic': Ola Electric CEO Bhavish Aggarwal slams MapMyIndia over lawsuit
Days after MapMyIndia sued Ola Electric for allegedly stealing its data, the EV startup's founder and chief executive Bhavish Aggarwal has defended his firm. The lawsuit was filed just days before Ola Electric is set to float its initial public offering (IPO) on Friday.
📝 Steel ministry seeks probe into cheaper imports from China, Vietnam
📝 Domestic steel companies to coordinate on import price
Read More >>
🌢 Fuels, Lubricants & Charging Stations
Replus Engitech partners Hero Future Energies for 250 MWh BESS projects
Replus Engitech on Wednesday said that it has joined hands with Hero Future Energies to design, develop, engineer, install, and commission 250 megawatt hour (MWh) of Battery Energy Storage System (BESS) projects across various locations. This partnership between the subsidiary of Bhilwara Energy and Hero Future Energies (HFE) represents a significant step forward in India’s renewable energy landscape, promising to enhance the stability and reliability of green power sources across multiple states.
📝 Oil rises on risk of broadening Middle East conflict
📝 India's July diesel, jet fuel exports to Singapore, Australia set to hit 2-1/2-year high
Read More >>
💸 Finance & Insurance
📝 Comprehensive Insurance Vs Third-Party Car Insurance
📝 Car affected in a landslide? Here's how to get insurance coverage for that
📝 Try pay-as-you-drive insurance cover if driving under 10K km annually
Read More >>
📖 Magazines News
Toyota signs MoU with Maharashtra government for new manufacturing plant
Source Credit: Autocar India
Toyota Kirloskar Motor has signed a Memorandum of Understanding (MoU) with the Government of Maharashtra to examine the setting up of a new manufacturing facility in the state.
TVS Ronin Parakram edition unveiled
Source Credit: Autocar India
To commemorate 25 years of Kargil Vijay Diwas, TVS has unveiled a custom-built version of the Ronin called The Ronin Parakram. It features a number of cosmetic changes, but remains mechanically identical to the original bike.
Yezdi Adventure updated, prices start at Rs 2.10 lakh
Source Credit: Autocar India
The updated Yezdi Adventure has been launched with prices ranging between Rs 2.10 lakh and Rs 2.20 lakh (ex-showroom). The bike is fundamentally the same, but has received numerous revisions in almost all areas.
Skoda Octavia facelift review: Czech magnate
Source Credit: Autocar India
The Octavia is to Skoda what the City is to Honda or the Swift is to Maruti – a product with a rich history and dominance in its segment, making it a brand in itself. For years, the Octavia was the stalwart for the Skoda brand in India, but the tide turning towards SUVs and the rapidly declining demand for sedans resulted in it being phased out. Now though, it looks to make a comeback, and we got a chance to take a quick spin of the Sportline variant in its hometown in Czechia to get a gist of what to expect.
Tata Curvv 1.2 TGDi engine confirmed; to be called Hyperion
Source Credit: Autocar India
Tata Motors has officially confirmed a new turbocharged direct injection petrol engine for the upcoming Curvv coupe-SUV, making it the first model to use it. Dubbed the ‘Hyperion,’ this engine was first showcased at the Auto Expo 2023. It could also be offered in other compact Tata vehicles.
Updated Royal Enfield Classic 350 launch on August 12
Source Credit: Autocar India
Royal Enfield will be updating its evergreen Classic 350 on August 12, with updates likely limited to the feature-set and not the mechanicals of the bike.
Mahindra Thar, Scorpio order backlog down by 30 percent
Source Credit: Autocar India
Mahindra announced in its results presentation for the April to June quarter that its pending orders have fallen by nearly one-fifth to 1.78 lakh units from 2.22 lakh units at the end of the preceding three months. The backlog for its popular models, including the Thar, Scorpio and Scorpio N, has dropped by about 30 percent. The decline is smaller for the XUV700, Bolero and Bolero Neo.
Pagani Utopia Roadster revealed; weighs same as coupe
Source Credit: Autocar India
Italian marque Pagani has unveiled a convertible version of its Utopia hypercar. Called the Utopia Roadster, it is limited to just 130 units and makes use of the same V12 powertrain as the standard Utopia.
New Mahindra Thar Roxx interior photos reveal smaller sunroof for lower variants
Source Credit: Autocar India
Images of the Mahindra Thar Roxx’s interior have surfaced online before its August 15th launch. The upcoming 5-door off-roader in the pictures appears to be a mid-spec variant as it lacks a panoramic sunroof, advanced driver-assistance systems (ADAS), 360-degree camera and some other premium features. Still, there’s a decent amount of equipment seen.
BMW 6 Series GT discontinued in India
Source Credit: Autocar India
BMW has discontinued the 6 Series GT in India, following the launch of the new 5 Series. This doesn’t come as a surprise as the new 5 Series, in its long wheelbase guise, was meant to address both the outgoing 5 and 6 Series GT customers. In fact, it was the success of the 6 Series GT that convinced BMW to get the new 5 Series in its LWB guise to India.
New Audi A6 e-tron breaks cover
Source Credit: Autocar India
Audi has globally unveiled the new A6 e-tron in Sportback and Avant guises. This is the second Audi model based on the PPE (Premium Platform Electric) architecture and is closely related to the Q6 e-tron SUV that debuted in March this year. Co-developed with Porsche, the PPE platform will be used to underpin a host of VW Group cars in the coming years.
Africa spec Maruti Ertiga, Renault Triber score poorly in GNCAP crash tests
Source Credit: Autocar India
Global NCAP has crash tested two made-in-India cars – Maruti Ertiga and Renault Triber – for the African market. The two MPVs have been crash tested under the Safer Cars for Africa campaign, and scored one and two stars, respectively.
Read More >>
📰 International News
Thai June factory output falls more than forecast as car output slumps
Thailand's manufacturing production index dropped 1.71% in June from a year earlier due mainly to lower car production and higher energy costs, the industry ministry said on Wednesday, missing analysts' expectations.
Stellantis says no intention of selling Maserati, after CEO issues warning
Stellantis has no intention of selling its luxury vehicle business Maserati or aggregating the unit with other Italian luxury groups, the Jeep maker said on Tuesday.
Mitsubishi to join Honda, Nissan alliance as Chinese juggernaut rolls on
New Delhi: It was sometime in 2018 when a top member of Yamaha Motor’s leadership team told this writer that too much was being read into the (then) prevailing wave of consolidation in the Japanese auto industry.
BorgWarner wins deal to supply EGR coolers to North America-based CV Customer
New Delhi: BorgWarner, a global product leader in delivering innovative and sustainable mobility solutions, is boosting its thermal management product business by securing exhaust gas recirculation (EGR) cooler contracts with a prominent, North America-based commercial vehicle (CV) customer.
China's BYD explores Canadian auto market entry
Chinese EV maker BYD, is looking to enter the Canadian automotive market, according to a regulatory document filed earlier this month, even as Canadian officials consider imposing tariffs on vehicles imported from China.
Solvay aims to meet 30% of EU's needs for critical components for EVs, wind turbines
Belgian chemicals group Solvay aims to supply 30% of Europe's needs for permanent magnets used in electric vehicles and wind turbines from a new plant in France, the company said on Wednesday.
Uber partners with BYD to put its drivers into Chinese firm's 100,000 EVs
Uber Technologies Inc. will team up with BYD Co. to put 100,000 electric vehicles onto the ride-hailing company’s platform, in a major deal between American and Chinese businesses that notably excludes the US.
Toyota to post jump in profit over hybrid demand, momentum may be slowing
Demand for hybrids is likely to deliver another quarter of double-digit growth for Japan's Toyota Motor when it reports earnings on Thursday, although it is expected to show signs of slowing after a run of record profits.
📝 Stellantis Chinese JV Leapmotor International begins export of EVs to Europe
📝 Tesla recalling more than 1.8mn vehicles due to hood issue
Read More >>
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