The auto industry also wants the government to direct banks not to reduce lending to those segments which has the lowest NPA, such as the passenger vehicles segment. NEW DELHI: Auto industry leaders on Wednesday asked the government for a stimulus package, including GST reduction on vehicles, for the sector which has been hit by… Continue reading Auto industry seeks stimulus package from government
Author: Economic Times of India Online News
Tens of thousands losing jobs as India’s auto crisis deepens
The malaise has been spreading across much of the industry, both in terms of vehicle type and components as well as geographically in India’s manufacturing hubs. By Sudarshan Varadhan, Aditi Shah and Aftab Ahmed NEW DELHI : Slumping sales of cars and motorcycles are triggering massive job cuts in India’s auto sector, with many companies… Continue reading Tens of thousands losing jobs as India’s auto crisis deepens
50 centres to charge electric vehicles to come up in Hyderabad
Accept the updated privacy & cookie policy Dear user, The EconomicTimes.com privacy and cookie policy has been updated to align with the new data regulations in European Union. Please review and accept these changes below to continue using the website. You can see our privacy policy & our cookie list below. We use cookies to… Continue reading 50 centres to charge electric vehicles to come up in Hyderabad
Tata Motors announces partnership with Tata Power to set up public EV charging infrastructure
To be operated by Tata Power, the companies plan to set up 300 charging stations across Mumbai, Delhi, Pune, Bengaluru, and Hyderabad by the end of the fiscal year 2019-20. MUMBAI: To address the concern of a lack of public charging infrastructure for electric vehicles, Tata Motors announced a partnership with another group company Tata… Continue reading Tata Motors announces partnership with Tata Power to set up public EV charging infrastructure
Ampere founder Hemalatha may exit company next year
“Right now we are not producing at peak capacity but with the GST cut if demand goes up we will expand and go in for a second plant,’’ said Annamalai. Chennai: Ampere founder Hemalatha Annamalai, may exit e-vehicle maker in a year depending on how things pan out. “After the end of next year, both… Continue reading Ampere founder Hemalatha may exit company next year
Groupe PSA opens India Technical Center
The India Technical Center will play a key role in the smoother and more efficient working of the employees of PSA India New Delhi: French auto manufacturer Groupe PSA has opened its India Technical Center in Chennai One, part of one of the Chennai Special Economic Zones. The company claims this technical centre will enable… Continue reading Groupe PSA opens India Technical Center
Visteon Corporation’s net income down by 80% at $7 million in 2019 Q2
Visteon has claimed in a release that it received new business amounting to $3.2 billion in the first half of 2019 (January-June), with 60% attributed to digital clusters, displays and SmartCore domain controller. New Delhi: American automotive electronics provider Visteon Corporation has reported 80% drop in its net income in the second quarter of 2019… Continue reading Visteon Corporation’s net income down by 80% at $7 million in 2019 Q2
JLR pushes Tata Motors Q1 losses to double at Rs 3679 cr
The primary reason behind the increase in loss is its British luxury arm Jaguar Land Rover which has reported a pre-tax loss of 395 million pounds compared with 264 million pounds loss in the same period a year ago. NEW DELHI: Home-grown automaker Tata Motors on Thursday said that it has doubled the losses to… Continue reading JLR pushes Tata Motors Q1 losses to double at Rs 3679 cr
Tesla co-founder J.B Straubel steps down as CTO, to become senior advisor
The long time executive in Tesla Inc. started his journey in the Palo Alto-based company shortly after made his first investment. New Delhi: Tesla co-founder J.B Sraubel has announced that he will be stepping down from the current role of Chief Technology Officer of the American elecric vehicle manufacturer, only to take a senior advisor… Continue reading Tesla co-founder J.B Straubel steps down as CTO, to become senior advisor
Ford shutters French transmission plant
Bordeaux: A Ford plant that produced transmissions in southwestern France shut down for good on Wednesday after the carmaker brushed aside efforts save some operations at the facility that had employed up to 3,600 people. The factory in Blanquefort, outside Bordeaux, was scheduled to close on July 31 but “people arrived this morning and were… Continue reading Ford shutters French transmission plant