VinFast Lux A2.0 HANOI: Vietnam‘s first domestic car manufacturer, Vinfast, said on Wednesday it had bought GM Holden‘s Lang Lang Testing Centre in Australia, as part of its efforts to expand internationally. Vinfast, a unit of Vietnam’s largest conglomerate Vingroup JSC, did not give value of the deal. The purchase of the 872 hectare (2,155… Continue reading Vietnam carmaker Vinfast buys GM Holden’s testing centre
Author: Economic Times of India Online News
Suzuki group cos to make ‘best efforts’ to reach pre-COVID-19 level of production, sales
Suzuki Motor Corporation Chairman Osamu Suzuki showing off the Rakhi he received from the Ambassador of India to Tokyo at an ACMA event. New Delhi: Suzuki Motor Corporation Chairman Osamu Suzuki on Saturday said the Indian market is expected to recover from the coronavirus pandemic and its group companies in India will make best efforts… Continue reading Suzuki group cos to make ‘best efforts’ to reach pre-COVID-19 level of production, sales
Bosch acquires 26% stake in Sun Mobility
Bosch acquires 26% stake in Sun Mobility NEW DELHI: Auto Component major, Bosch has acquired a 26 percent stake in SUN Mobility through its investment vehicle Robert Bosch Investment Nederland B.V. With its global reach, Bosch is focused on enabling electrification within its four pillar approach towards mobility – Personalized, Automated, Connected and Electrified. Bosch… Continue reading Bosch acquires 26% stake in Sun Mobility
Auto retailer Lookers warns of H1 loss, expands probe on 2019 accounts
Lookers said the new scope of the audit means “further work” on its corporate leasing division, vehicle financing arrangements and balance sheets of 2018 and before to ensure correct identification and allocation of adjustments. Auto retailer Lookers warned on Thursday that weak demand and margin pressures will push it to a “material” pre-tax loss for… Continue reading Auto retailer Lookers warns of H1 loss, expands probe on 2019 accounts
EVage claims it will manufacture ‘Exoskeleton Structures’ for EVs
The team came together five years back with the aim of easing the pain of manufacturing electric vehicles and bringing them within the reach of the common man in India. New Delhi: In line with Prime Minister Narendra Modi’s vision Atma Nirbhar Bharat, mobility tech start up firm EVage introduces India‘s first home-built ‘Exoskeleton Structure‘… Continue reading EVage claims it will manufacture ‘Exoskeleton Structures’ for EVs
We are strong in SUVs, SCVs and pickups and we will focus there: Pawan Goenka
Even in our core businesses of auto and tractor, we are looking to see how we can make it more core, said Goenka. In my four-five years of looking back, this perhaps is the year when everything has come together positively for the agri economy, says MD & CEO, Mahindra & Mahindra. Mahindra & Mahindra… Continue reading We are strong in SUVs, SCVs and pickups and we will focus there: Pawan Goenka
Eyeing strategic partnership in EV business: M&M
Goenka said he does not foresee any dark clouds on the tractor side but challenges do remain in the passenger vehicle segment. New Delhi: Homegrown auto major Mahindra and Mahindra (M&M) is looking for strategic partners for its electric vehicles business in order to further scale it up, a top company official said on Friday.… Continue reading Eyeing strategic partnership in EV business: M&M
Turkey auto sales surge 380% in July after lockdown lifted
In the January-July period, sales rose 60.3% year-on-year, the association also said. It forecast sales for this year at 650,000-700,000 vehicles. ISTANBUL: Sales of passenger cars and light commercial vehicles in Turkey surged 387.5% year-on-year in July, the Automotive Distributors Association said on Wednesday, reflecting a rash of purchases after the country’s partial coronavirus lockdown… Continue reading Turkey auto sales surge 380% in July after lockdown lifted
China’s EV makers target drivers who can’t afford a Tesla
As auto sales boomed in the mid-2010s, hundreds of EV makers hoped to become the country’s answer to Elon Musk’s Tesla. Beijing: China buys more electric vehicles than any other country, and most sales occur in big cities such as Beijing and Shanghai. EV buyers there can afford to spend 300,000 yuan ($43,000) on a… Continue reading China’s EV makers target drivers who can’t afford a Tesla
Carmakers borrow industry-leading $132 billion to weather Covid-19
Loans for virus relief eased during July as firms repay loans. (Image: Bloomberg) New York: The automotive industry has borrowed $132 billion since March as the spread of the coronavirus curbed demand for cars and closed factories. The sector is the largest user of funds put in place to ease the impact of the pandemic.… Continue reading Carmakers borrow industry-leading $132 billion to weather Covid-19