Top Indian Automobile Industry News & Updates - 19 Sep 2024,Thursday
🏢 Industry
Centre to ’tweak’ localization rules under new EV subsidy scheme, says govt official
The ministry of heavy industries (MHI) is set to revise localization rules under the Centre's latest electric vehicle (EV) subsidy scheme, a key requirement for original equipment manufacturers (OEMs) to qualify for incentives.
Tata Group forms alliance with Analog Devices for semiconductor manufacturing
Mumbai: Tata Group has announced a strategic alliance to explore potential cooperative manufacturing opportunities with US-based multinational semiconductor company Analog Devices. Inc
Raising the BaaS, how JSW MG is making battery a selling point for EVs
In a world’s first, Norway on Tuesday became the only country to have more EVs than gas-powered cars. Some 7,000km away, JSW MG Motor India, too, entered the history book by unbundling the battery cost for its Windsor EV.
Jupiter Wagons announces investment of Rs 2,500 crore to set up new plant in Odisha
JBIC eyes semicon supply chain in India
Penetration of electric vehicles growing across segments in auto industry
Electric vehicle penetration is growing across segments in the auto industry. Hero MotoCorp’s EV sales were at 0.74 per cent of total sales from January to August in 2024, while Bajaj Auto’s share jumped from 4.04 per cent in 2023 to 8.32 per cent so far in 2024. Mahindra dominated the passenger 3W market with 96.75 per cent EV penetration, and Bajaj increased from 1.21 per cent to 7.7 per cent. EV reach among PVs rose slightly from 2.27 per cent to 2.39 per cent. Tata Motors reported a penetration of 12.05 per cent, down from 12.61 per cent last year, while JSW-MG Motors surged to 33.77 per cent, up from 23.75 per cent.
📝 Tata Motors to break ground for new plant in TN on Sept 28
📝 Poor maintenance of NH stretches will invite blacklisting, strict action: Gadkari
📝 PM E-DRIVE to boost EV adoption: HD Kumaraswamy
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🚗 Cars / SUVs
Made-in-India Suzuki Swift in South Africa to get CVT automatic gearbox
Suzuki will launch the fourth-gen Swift in South Africa soon and it will largely be similar to the Swift sold in India. However, there will be one major change in the South Africa-spec Swift from its Indian counterpart. Instead of an AMT gearbox, the Swift sold in the rainbow nation will get the option of a CVT gearbox.
Plan to launch six new products under Renault-Nissan alliance is on schedule: Official
Chennai: The plan to roll out six new products, including two electric vehicles under the Franco-Japanese automotive alliance Renault Nissan, at a total outlay of INR 5,300 crore has been progressing and is on schedule, a top official of French car major Renault India said on Wednesday. Renault-Nissan, in February 2023, had announced investments of USD 600 million (about INR 5,300 crore) in India, to bring in six new products, including two electric cars, and an upgradation of their Chennai plant.
Renault’s CNG variants to hit the market alongside new models
Chennai: French automaker Renault plans to expand its product line-up by introducing CNG variants for three existing models, aiming to capitalise on the growing demand in both personal and fleet markets. These CNG models are set to be launched ahead of the company’s planned release of five new vehicles, including an electric vehicle (EV), in the coming months.
📝 From Mahindra XUV700 to Tata Safari: Here are top alternatives for 2024 Hyundai Alcazar
📝 Kia Carens new Gravity variant reaches dealerships in India. Here is what it offers
📝 2024 Kia Carnival luxury MPV launch soon: Launch date, features, engine, specs
📝 Updated Tata Punch launched at Rs 6.13 lakh: Larger infotainment display and more features!
📝 Renault India plans to roll out CNG-fitted Triber MPV by December
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Electric-Cars / SUVs
📝 Maruti plans 25,000 charging points ahead of its first EV launch
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🚗 Luxury Cars
Most powerful BMW M car lands in India, priced at Rs 3.25 crore
BMW has launched the most powerful M model of its portfolio in India. Called the XM Label edition, the new Beemer is priced at a whopping Rs 3.25 crore and comes to India as a fully-imported Completely Built Unit (CBU) model. Interestingly, only 500 units of the XM Label will be manufactured globally and only one unit is reserved for the Indian market.
📝 Mercedes-Benz sees more Indian buyers choosing EVs as first luxury car
📝 Mercedes-Benz to Jaguar Land Rover, India manufacturing in top gear
📝 New-gen Mercedes-Benz E-Class LWB India launch confirmed for October 9
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⛟ Commercial Vehicles
📝 IIT alumni to invest Rs 700 cr for EV buses in Goa; will revive mass transport, says CM Pramod Sawant
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🎤 Interviews & Features
Time to target for tariffs!
It is one week since the ACMA and SIAM annual conventions concluded and the best time to share my views on what I saw, heard and observed about a USD 240 billion industry that makes up for 40% of India’s manufacturing GDP and contributes around 6.8% of national GDP.
Hyundai Alcazar Review: Second time a charm?
Hyundai India’s sales are largely driven by its SUV lineup, with the Creta, Venue, and Exter leading the charge, accounting for 67 per cent of total sales. However, the South Korean automaker has struggled to replicate this success in the three-row SUV segment with the Alcazar. Hyundai is optimistic that the 2024 Alcazar facelift could change its fortunes as it is equipped with modern technology, enhanced safety features, and convenient amenities.
No plans to phase out Kwid until rules allow: Renault India MD & CEO
Renault India sold only 52,620 units in the 2023 calendar year, down 33 per cent compared to 2022. What is your revival strategy?
Why the hype for hybrid cars won’t last
📝 Deven Choksey on why long-term investors should eye Motherson Sumi
📝 Auto stocks to benefit from pickup in discretionary spending: Sandip Sabharwal
📝 2025 Kia Carnival Limousine: Five reasons why you should consider buying the upcoming MPV
📝 Building a seamless business doesn't happen overnight, says Tata Sons chairman N Chandrasekaran
📝 We are working towards meeting our target of all last-mile deliveries via EVs by 2030: Nishant Gupta, Flipkart
📝 Suzuki V-Strom SX covers 9 mountain passes in 18 hours, sets new national record
📝 Sunroof craze in India: Pointless car feature most want but few need
📝 2024 Hyundai Alcazar drive review: Why would you ever drive it?
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🏍 2/3 Wheelers
Yamaha unleashes R15M MotoGP Edition at Rs 1.99 lakh
Yamaha India has introduced the Monster Energy R15M MotoGP special edition at an ex-showroom price of Rs 1.99 lakh. This sports bike is exclusively available at Yamaha’s Blue Square showrooms throughout the country. Now, let’s delve into the details of what the R15M MotoGP Edition has to offer.
Yamaha launches MT-15 MotoGP edition Rs 1.73 lakh
Yamaha India has given the MT-15 Version 2.0 a dash of additional flair with MotoGP livery to give it an aggressive styling. With the Monster Energy racing colours, the muscular motorcycle offers a streak of sportiness and will attract a lot of attention on the road.
Updated Triumph Speed 400 launched: Here’s what has changed?
Triumph launched a new derivative of the Speed 400 called the Speed T4. The British brand likes to call the latter as the “Unidentical Twin” of the former and there are good reasons for it. Meanwhile, Triumph has also updated the original Speed 400, fourteen months after it was first launched. Priced at Rs 2.40 lakh (ex-showroom), here’s all that has changed in the updated Speed 400.
Exports demand likely to keep Bajaj Auto's shares under pressure
Investors will have to weigh conflicting information about Bajaj Auto. On the exports front, Bajaj is under pressure in Bangladesh and Africa. On the domestic front, it could ride improvement in rural demand and new launches but it also has to cope with competitive intensity and a high base.
📝 Triumph announces updates to Speed Twin 1200, unveils new Speed Twin 1200 RS
📝 Looking for bikes under ₹3 lakhs that offer traction control? Your search ends here
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🚲 Electric 2/3 Wheelers
Subsidies on e-scooters to slide to ₹5,000 per scooter in Oct 2025
The latest edition of India's electric vehicle (EV) subsidy scheme has drastically cut incentives per vehicle that earlier sparked a proliferation of EVs, even as the government remains optimistic about achieving its EV penetration targets.
From stars to the streets: The journey of PURE EV founder Dr Nishanth Dongari
From the vast expanses of outer space to open roads, Dr Nishanth Dongari has always been driven by a passion for innovation and a desire to push boundaries to carve out a niche for himself. His passions have been fuelled by strong technical expertise in designing and building complex mobility systems.
Revolt RV1 commuter electric bike launched at Rs 85k, gets up to 160 km range
After a long time, Revolt Motors has launched a new product in India. The company earned the designation of launching the country’s first electric motorcycle in the form of RV300. The company later launched the RV400 and its sub-variant– the RV400 BRZ. Revolt has now launched a new commuter electric motorcycle in the country named RV1.
Ather’s IPO: Interesting gleanings on EV industry from its DRHP and how PM E-Drive can give a booster dose
With plans to go public, Ather Energy has sought to raise ₹3,100 crore through a combination of fresh capital and an offer for sale (OFS) from existing investors. As per the company’s DRHP, in FY24, it reported revenues of around ₹1,700 crore but faced significant losses of approximately ₹1,000 crore. These losses were partly attributed to the company’s dependence on the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme, which resulted in financial setbacks due to delays, narrow gross profit margins, or increased costs that the subsidies did not fully offset.
📝 Ola Electric shares surge 10%; hit upper circuit limit
📝 Ola Electric forms new service team amid rising customer complaints
📝 Updated Revolt RV400 electric motorcycle launched with new features, more range
📝 BMW CE 02 to launch soon. Here’s what to expect
📝 50% of Made in India electric two-wheelers add to exports, huge potential ahead: Gadkari
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⚙ Components
TSF group showcases portfolio for global trailer market
The TSF Group is showcasing its product offerings including brakes, axles & wheels aimed primarily at the global trailer market. As a Tier-1 supplier to global OEMs for over 60 years, the group strongly focuses on design and development.
Near term demand concerns ahead for Samvardhana Motherson's stock
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🌇 Allied Industries
Tata, Analog Devices to explore opportunities for semiconductor manufacturing in India
New Delhi: Tata Group and global semiconductor firm Analog Devices (ADI) have partnered to explore opportunities for semiconductor manufacturing in India, a joint statement issued on Wednesday said. The alliance assumes significance as the government is continuously pushing to establish a robust electronics manufacturing ecosystem in India for both domestic and global consumption.
Localisation of supply chain and in-house talents are the driving forces for Marelli India: David Slump
New Delhi: Automotive technology and supplying giant, Marelli is now eying on Indian human resources to 4x its presence in the country. “We want to be at least two to three times the local market growth. So the vehicle production market is about 4% right now, and we're growing about 16%,” David Slump, CEO and President, Marelli told ETAuto.
AM/NS India bets on high-margin, value-added steel for solar, automotive sectors
Mumbai: ArcelorMittal Nippon Steel India, the largest privately held steelmaker in the country, is betting on growing demand for specialty grades of steel, bulk of which is imported, a top executive said.
India in talks to tackle rising steel imports, steel minister says
India is in discussions to tackle higher steel imports, Steel Minister H.D. Kumaraswamy said on Wednesday, without sharing further details.
📝 Reconsider proposed hike in steel import duty: MSMEs
📝 Industry body sees domestic zinc consumption doubling in less than decade
📝 Extending battery life with cutting-edge rejuvenation technology: Kavinder Khurana, MD, Tesla Power USA
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🌢 Fuels, Lubricants & Charging Stations
Russian insurance shores up oil exports to top buyer India
Russian insurers are playing a growing role facilitating the country's oil shipments to India, its biggest buyer, data obtained from trade and shipping sources shows, helping to protect Moscow's export revenue despite western sanctions.
Indian oil PSUs’ dividends stuck in Russia swell to around $900 million as repatriation efforts flounder
India’s public sector oil companies’ stuck dividend income from their Russian investments has ballooned to around $900 million as the companies have been unable to work out a mechanism with the Russians to repatriate that money or use it in bilateral trade between the two countries, according to sources in the know.
India's Hero Future Energies plans to invest $20 billion in renewables over 6 years
GUJARAT: Indian conglomerate Hero Group's power production unit plans to invest $20 billion over the next six years to scale up its capacity by nearly 16 times, chairman Rahul Munjal told Reuters at an industry event on Tuesday.
📝 EV charging infra in Noida Airport soon
📝 Indian plans to keep buying cheap Russian oil, Hardeep Puri says
📝 India to ensure sufficient EV charging infrastructure, says H D Kumaraswamy
📝 Oil prices edge higher on US crude stocks, market awaits Fed decision
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🌍 Emissions/Environment
Delhi's battle against air pollution intensifies: BS-III light commercial vehicles, non-CNG buses to face entry ban
New Delhi: Inter-state buses from NCR states using non-cleaner fuels and BS III or below light commercial vehicles (LCVs) registered outside the capital will not be allowed to enter Delhi if stage III of the Graded Response Action Plan (GRAP) under 'severe' air quality is in effect. This is one of the changes in the revised GRAP, which will be implemented starting this winter season.
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💸 Finance & Insurance
📝 HDFC Bank to assign Rs 9,062 crore car loan pool to mutual funds to correct its credit-deposit ratio
📝 Manba Finance fixes IPO price band at ₹114-₹120
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📖 Magazines News
Triumph Speed 400 and Speed T4: similarities, differences
Triumph has launched an updated version of the Speed 400, adding a new member to its 400 family: the Speed T4. While heavily based on its predecessor, it also incorporates some notable differences that allow Triumph to price it lower, making it the entry point for the British brand. Let's examine their similarities and differences.
Electric Mini Cooper JCW gets 258hp
The details for Mini’s new performance EV, the all-electric Mini John Cooper Works (JCW) hatchback, are out a bit before its global debut thanks to a Chinese government filing. China’s Ministry of Industry and Information Technology (MIIT) has published images and specifications of the hatchback and the Aceman JCW, giving us new info about the go-faster EVs.
Updated Tata Punch price, variants, features explained
Tata Motors recently launched the updated Punch at a starting price of Rs 6.13 lakh, introducing a few new features and a variant rejig. The company has discontinued some variants that were previously offered while adding some new ones. Let’s take a look at the features available with each trim and their respective prices.
Revolt RV1 electric bike launched at Rs 84,990
Revolt Motors, which was one of the first movers in the electric motorcycle space with the RV400, has now launched its latest electric bike, the RV1. The standard RV1 is priced at Rs 84,990, while the higher-spec RV1+ will cost Rs 99,990.
Hyundai Alcazar facelift review: All about the comfort
Hyundai ensures that every model's life-cycle management is taken care of, and no product is long in the tooth. We've seen it with the Verna, the Venue, the Creta and now, the Alcazar. The Alcazar was always the Creta with a third row. It was meant for someone who wants a bit more practicality, wants to occasionally ferry a few more passengers, and do so without compromising on tech and features. For 2024, it has been updated with a refreshed look, fresh interior and even more tech and features.
MG Windsor Battery rental (BaaS) explained
Earlier last week, MG launched the Windsor as its third EV in our market at an aggressive starting price of Rs 9.99 lakh, ex-showroom. However, that price is exclusive of the battery, which comes on a rental basis at an additional cost of Rs 3.5 per km. This first-of-its-kind ownership model promises to reduce the upfront acquisition cost of an EV, and MG claims over a certain period of ownership, it reduces running costs as well.
20 bestselling SUVs, MPVs in April-August 2024
Amid declining hatchback and sedan sales, utility vehicles (UV), with sustained double-digit growth, continue to act as a buffer for carmakers. In just the first five months (April-August) of the ongoing financial year, this segment has already attained 44 percent of the sales it did in the entire financial year 2024 (FY2024).
New Mercedes E-Class LWB launch on October 9
Mercedes-Benz India will launch the new V214 E-Class LWB, which rivals the BMW 5-Series LWB, on October 9, and deliveries will commence before Diwali – the end of the same month.
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📰 International News
Canadian union, GM reach agreement for Ontario plant workers
Unifor reached a tentative agreement with General Motors early Wednesday over wages and job security for workers at its Ingersoll, Ontario plant, the Canadian labour union said.
UAW to hold strike votes at Stellantis local chapters, says union president
The United Auto Workers union plans to hold strike authorization votes at one or more of its Stellantis local chapters in the coming days, union president Shawn Fain said on Tuesday, which could lead to significant disruptions for the Jeep maker.
French auto supplier association warns sector risks losing half its jobs
The head of French auto supplier association Fiev warned on Wednesday that the sector was at risk of losing half of its jobs in the coming years, citing falling car sales volumes, a slowdown in the electric vehicle market and competition from China.
Truckmakers say they are ready to go electric, but what about charging?
Major manufacturers, such as Daimler Truck and Traton , displaying their trucks at a transportation fair in Hanover this week say they are ready to go electric, but their e-trucks will not sell without massive investments in charging infrastructure.
Bosch chief sees stagnating growth in car markets worldwide
German autos supplier Bosch CEO Stefan Hartung expects very little growth in car and commercial vehicle markets worldwide this year and next, he said in an interview with Reuters.
Trump pledges tariffs and repeats false claim of Chinese automakers building big Mexican factories
Former President Donald Trump on Tuesday repeated false claims that Chinese automakers are putting up large factories in Mexico, vowing during a stop in the automaking state of Michigan to slap 200% tariffs on any vehicles the unbuilt plants make and ship to the United States.
EV tariffs will damage Germany, China, says Chinese Commerce Minister
China's commerce minister said the European Union's imposition of tariffs on electric vehicles (EV) will "seriously interfere" with trade and investment cooperation and hurt both China and Germany.
BYD takes full control of Denza JV as Mercedes-Benz pulls back from China amid trade tensions
BYD Company, the Chinese automaker, has taken over full control of Denza, its joint venture brand with European Mercedes-Benz Group AG, Bloomberg reported.
📝 Volkswagen and JV partner SAIC plan to close China plant, Bloomberg reports
📝 China tells Italy: EU electric vehicle probe affecting investor confidence
📝 Blink Charging to reduce global workforce by 14% in cost-saving effort
📝 EVs could reach 24% EU car market share by 2025, says T&E
📝 Electric cars overtake petrol models in Norway
📝 General Motors aims to tap into Tesla’s EV charging network. Here's how
📝 Lotus unveils 986 bhp Theory 1 EV concept showcasing futuristic design and tech, gives 402 km range
📝 Toyota Prius creates new Guinness World Record with remarkable 93 MPG fuel efficiency
📝 Mercedes-Benz exits luxury EV joint venture with BYD, Chinese OEM takes full control
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