Steel benchmarks on the Shanghai Futures Exchange were weaker. Rebar lost almost 0.6%, hot-rolled coil dipped about 0.3%, wire rod shed nearly 1.2% and stainless steel edged around 0.1% lower. Iron ore futures prices dipped on Friday, but were on track for weekly gains as investors weighed a softer global demand outlook against better economic… Continue reading Iron ore dips on demand concerns but headed for weekly rise
Author: Economic Times of India Online News
Mahindra Auto reports 25% increase Y-o-Y in October sales with 54,504 units
Mahindra three wheelers reported 5% rise in the October 2024 sales. The company recorded 9,826 units sales as against 9,402 units in October 2023. Mahindra & Mahindra (M&M), India’s leading automotive companies, today announced its overall auto sales for the month of October 2024 stood at 96648 vehicles, including exports. In the Utility Vehicles segment,… Continue reading Mahindra Auto reports 25% increase Y-o-Y in October sales with 54,504 units
Asia to spend over USD 20bn on EVs: Report
EV adoption in India will progress with model launches that bring prices more in line with ICE models and with improving charging infrastructure. South and South East Asia will spend more than USD 20 billion in building electric vehicles in the next few years, says a latest report by S&P Global Ratings. According to the… Continue reading Asia to spend over USD 20bn on EVs: Report
What happens as EU concludes investigation of Chinese-made EVs?
The tariff imposition follows a vote on the Commission’s proposal for definitive tariffs by the EU’s 27 members on Oct. 4 – with 10 in favour, five against and 12 abstentions. The European Union formally approved imposing tariffs on Chinese-made electric vehicles (EVs) on Tuesday after an investigation that has divided the bloc and prompted… Continue reading What happens as EU concludes investigation of Chinese-made EVs?
Beijing files WTO complaint over EU’s new taxes on Chinese EVs
“We welcome competition, including in the electric vehicle sector, but it must be underpinned by fairness and a level playing field,” he said. Beijing said Wednesday it had lodged a complaint with the World Trade Organization over the European Union’s decision to impose hefty tariffs on Chinese-made electric cars. The extra taxes of up to… Continue reading Beijing files WTO complaint over EU’s new taxes on Chinese EVs
Presidential vote to test Michigan’s appetite for EVs
Trump has said he supports consumers’ rights to buy EVs, but would kill the electric “mandate.” His campaign calls the Biden-Harris climate agenda the “Green New Scam.” The US presidential race in the battleground state of Michigan could come down to whether the American auto capital sees electric vehicles as more of an opportunity or… Continue reading Presidential vote to test Michigan’s appetite for EVs
Rupee battles yuan weakness, losses in local equities
The yields on the U.S. two-year to 30-year bonds climbed to roughly three-month peaks on Monday. The Indian rupee remained under pressure on Tuesday in the wake of a drop in the Chinese yuan and a fall in local equities amid foreign outflows. The rupee was at 84.0775 to the U.S. dollar at 10:56 a.m.… Continue reading Rupee battles yuan weakness, losses in local equities
FMCG, auto companies step up ad spends to revive demand
With pent-up demand diluted, carmakers and dealers are also increasing marketing spends to draw buyers to showrooms this festive season. New Delhi: Nearly a dozen consumer and automobile companies, such as Nestle, Colgate-Palmolive, Godrej Consumer Products, Maruti Suzuki, Volkswagen, Skoda and Tata Motors, have stepped up advertising and marketing spends in September quarter, and some… Continue reading FMCG, auto companies step up ad spends to revive demand
CII partners with Hunch Mobility to host Urban Air Mobility Expo 2025
India, with 341.05 million passengers as the world’s third-largest aviation market, is set to lead the UAM revolution. The Confederation of Indian Industry (CII), in strategic partnership with Hunch Mobility, will host the Urban Air Mobility Expo 2025 in Greater Noida from January 19-22, 2025. This event, a part of the Bharat Mobility Global Expo… Continue reading CII partners with Hunch Mobility to host Urban Air Mobility Expo 2025
Tata Electric Mobility, Rajasthan Solar Association collaborate to boost solar EV adoption
With the growth of solar power and electric vehicles, customers can achieve significant benefits, including no associated fuel costs and zero emissions by combining these technologies. Tata Passenger Electric Mobility (TPEM), a subsidiary of Tata Motors Limited, and the Rajasthan Solar Association (RSA) have signed a Memorandum of Understanding (MoU) to promote the use of… Continue reading Tata Electric Mobility, Rajasthan Solar Association collaborate to boost solar EV adoption