Mahindra XUV 3XO Shares of auto and farm equipment major Mahindra & Mahindra (M&M) gained over a percent to their day’s high of ₹3,767 on Friday, November 21, after the company dished out robust guidance on its investor day held on Thursday. M&M’s management said it is targeting organic revenue CAGR of 15 per cent… Continue reading M&M shares rise over 1% after robust guidance on investor day. Should you buy, sell or hold the stock?
Author: Economic Times of India Online News
Magna to produce China’s GAC electric vehicles in Europe
Roland Prettner, president of the Magna Steyr contract manufacturing business, said its expertise will allow automakers like GAC to localize production efficiently. China’s Guangzhou Automobile Group (GAC) will build its electric AION V model at a Magna facility in Austria, the two companies said on Thursday, a strategy that should help GAC avoid the EU’s… Continue reading Magna to produce China’s GAC electric vehicles in Europe
Foxconn to spend up to $3 billion a year on AI, chair sees China EV shakeout
The squeeze on EV makers in China is already evident. Top EV maker BYD reported its biggest quarterly profit drop in more than four years last month. Foxconn will invest $2 billion to $3 billion a year in AI, the head of the world’s largest contract electronics maker told Reuters. Foxconn Chairman Young Liu also… Continue reading Foxconn to spend up to $3 billion a year on AI, chair sees China EV shakeout
Early GRAP triggers, late response: Forecast failures keep capital in red
Activist Bhavreen Kandhari, who is the founder of Warrior Moms, said Supreme Courts push for an earlier and stricter GRAP was welcome, but it has also exposed how the current framework has remained largely reactive, rather than preventive. The Graded Response Action Plan (GRAP), a set of emergency measures implemented to prevent an unchecked spike… Continue reading Early GRAP triggers, late response: Forecast failures keep capital in red
M&M charts decade of expansion plan with auto at core
Mahindra expects an eightfold surge in automotive revenue in the decade through FY30, led by sport-utility vehicles (SUVs) and light commercial vehicles (LCVs). Mahindra Group has drawn up a decade-long expansion plan that will be spearheaded by its automotive division even as the tractor-to-technology conglomerate pursues scale across its entire business portfolio, according to a… Continue reading M&M charts decade of expansion plan with auto at core
Spinny opens new car parks in Sonipat, Karnal and Ambala to expand North India footprint
Spinny stated that interest in pre-owned cars continues to rise, and the company is expanding its physical network to meet demand while combining digital processes with in-person services. Spinny has expanded its presence in North India with the opening of three new car parks in Sonipat, Karnal and Ambala. The company said the facilities will… Continue reading Spinny opens new car parks in Sonipat, Karnal and Ambala to expand North India footprint
Iron ore retreats from two-week high with supply glut concerns in focus
Iron ore futures declined on Thursday, reversing recent gains as concerns over a fourth-quarter supply glut resurfaced. Iron ore futures prices snapped a three-session winning streak on Thursday, with focus back to concerns over a supply glut in the fourth quarter amid robust shipment and weakening demand in top consumer China. The most-traded January iron… Continue reading Iron ore retreats from two-week high with supply glut concerns in focus
Employment in German auto sector at lowest level in over a decade
Nevertheless, the car industry remains Germany’s second-largest manufacturing sector in terms of employment. Employment in Germany’s struggling automotive sector is at its lowest level in more than a decade following the elimination of tens of thousands of jobs, said the federal statistics office. The automotive industry, including parts makers, recorded 721,400 employees at the end… Continue reading Employment in German auto sector at lowest level in over a decade
Indonesian state-run firm to buy 320,000 vehicles for its cooperative programme, CEO says
Indonesia’s state-led Agrinas Pangan Nusantara is set to purchase 160,000 trucks and motorbikes as part of a $12 billion initiative to establish 80,000 cooperative markets. Indonesia’s state-led Agrinas Pangan Nusantara is negotiating the purchase of 160,000 trucks and as many motorbikes to kick off a $12 billion programme to build cooperative markets across the archipelago,… Continue reading Indonesian state-run firm to buy 320,000 vehicles for its cooperative programme, CEO says
EV boom, modular manufacturing spark surge in cold-roll-formed metal demand
Manufacturers said that these advantages are becoming essential as industries seek lighter, stronger and more modular components. A shift toward modular infrastructure, growing electric vehicle (EV) production, and rising expectations around precision manufacturing are accelerating the adoption of sheet-metal cold-roll forming across Indian industries, sector experts told PTI. Cold-roll forming is a continuous, high-speed process… Continue reading EV boom, modular manufacturing spark surge in cold-roll-formed metal demand