In the electric passenger vehicle (EPV) segment, BYD gained market share while MG lost. Tata Motors market share was largely unchanged. New Delhi: The electric vehicle (EV) penetration improved sharply in the two-wheeler and three-wheeler segment in India last month, a report said on Monday, while the government extended the Electric Mobility Promotion Scheme (EMPS)… Continue reading EV penetration improved sharply in 2 and 3-wheeler segment in India for July
Author: Economic Times of India Online News
Continental considers spin-off and listing of auto unit on Frankfurt SE
Shareholders would receive shares in the new company in proportion to their Continental holding, similar to the spin-off of Vitesco Technologies in 2021. Continental is considering a spin-off and subsequent listing of its automotive unit on the Frankfurt stock exchange, with an executive board decision expected in the fourth quarter. Disruptive changes in the industry… Continue reading Continental considers spin-off and listing of auto unit on Frankfurt SE
EVs gather speed, 3.3K get INR 19 cr in incentives
From a meagre 735 EVs purchased in 2021, the number of EVs registered in the city increased to 6,408 in 2023. Till Aug 5 this year, around 3,580 EVs have been registered in the city. For promoting electric vehicles in the city, more than INR 19 crore has been disbursed by the Chandigarh Renewal Energy… Continue reading EVs gather speed, 3.3K get INR 19 cr in incentives
IndianOil cancels green hydrogen tender again
Industry sources said IOCL cancelled the tender after it received only two bids, one being from its joint venture partner, GH4 India. For the third time in a row, state-run Indian Oil Corporation (IOCL) has scrapped the tender to build the country’s first green hydrogen plant at its Panipat refinery in Haryana. The tender was… Continue reading IndianOil cancels green hydrogen tender again
Audio Interview| Current state of the die-casting industry in the US and Mexico: Its significance to the North American supply chain
Ron Hesse speaks with Thomas Felty In the 8-minute Audio Interview, Mr. Felty discusses these questions: Can you explain the current state of the die-casting industry in the US and Mexico and its significance to the North American supply chain? What are the main benefits of having a vertically integrated zinc diecast, polishing, and plating… Continue reading Audio Interview| Current state of the die-casting industry in the US and Mexico: Its significance to the North American supply chain
Mumbai’s vehicle count crosses 48 lakh, 60% are two-wheelers. Experts worried
The city’s vehicle count has exceeded 48 lakh, including 14 lakh private cars and nearly 29 lakh two-wheelers. The city’s vehicle count has exceeded 48 lakh, including 14 lakh private cars and nearly 29 lakh two-wheelers. In 2023-24, an average of 721 vehicles were registered daily at the four regional transport offices (RTOs) in Mumbai.… Continue reading Mumbai’s vehicle count crosses 48 lakh, 60% are two-wheelers. Experts worried
Amara Raja Energy profit rises 26% Y-o-Y to INR 249 cr in Q1 FY25
ARE&M specializes in energy storage solutions, lithium-ion cell manufacturing, EV chargers, and automotive and industrial lubricants, among other products. Amara Raja Energy & Mobility (ARE&M) reported a 26% rise in consolidated net profit for the June quarter of FY25, reaching INR 249.12 crore. This marks an increase from the INR 198.31 crore net profit posted… Continue reading Amara Raja Energy profit rises 26% Y-o-Y to INR 249 cr in Q1 FY25
Auto retail sector grows 13.84% Y-o-Y to 20.34 lakh units in July 2024
Passenger vehicles saw robust growth, driven by factors like new model launches and attractive pricing strategies. New Delhi: India’s automobile retail sector witnessed a year-on-year growth of 13.84% in July 2024, according to data released by the Federation of Automobile Dealers Associations (FADA). Sales rose to 20,34,116 units, up from 17,86,779 in July 2023, with… Continue reading Auto retail sector grows 13.84% Y-o-Y to 20.34 lakh units in July 2024
Rupee poised for all-time low on risk aversion spurred by US growth worries
“The soft-landing narrative (is now) in question … (and) the data raises the question of whether the Federal Reserve is behind the curve in cutting rates.” The Indian rupee is expected to decline to a lifetime low at the open on Monday, weighed by the rout in U.S. and Asian equities on concerns that the… Continue reading Rupee poised for all-time low on risk aversion spurred by US growth worries
Basement EV charging sparks safety concerns in Gujarat
Despite these incidents, the state govt has approved the establishment of EV charging stations in parking areas under the EV policy. The state’s green push via the Gujarat State Electric Vehicle Policy 2021 has thrown up a new challenge for municipal corporations — the safety of basement parking areas. While the policy allows for charging… Continue reading Basement EV charging sparks safety concerns in Gujarat