Carbon emission reduction goals set in the EU for next year could lead to price cuts as automakers look to boost EV sales Global sales of fully electric and plug-in hybrid vehicles rose 35% in October from the same month last year, led by a 54% jump in sales in China, market research firm Rho… Continue reading Global EV sales up 35% in October, Europe ekes out a gain
Author: Economic Times of India Online News
Hertz posts wider-than-expected loss due to high depreciation costs
Hertz’s depreciation per unit surged 89% to $537 million in the quarter ended Sept. 30 from a year earlier. Rental car firm Hertz Global reported a wider-than-expected third-quarter loss and missed revenue estimates on Tuesday, hurt by high depreciation charges from its fleet vehicles, sending its shares down more than 4%. The company recorded a… Continue reading Hertz posts wider-than-expected loss due to high depreciation costs
Auto supplier OPmobility aims to double US sales by 2028
The U.S. market will account for 50% of OPmobility’s tank turnover by 2030, up from 40% currently, added Favre. French automotive supplier OPmobility is aiming to double its sales in the United States by 2028, a company presentation showed on Tuesday, as it benefits from auto sector consolidation and strong support for local production. The… Continue reading Auto supplier OPmobility aims to double US sales by 2028
German union says auto and engineering workers to get 5.5% wage rise
Facing rising competition from Chinese manufacturers, some of Germany’s largest industrial firms, such as Volkswagen , are also asking for painful cuts. German carmakers and engineering companies will receive a 5.5% wage increase over 25 months under a pilot deal struck with employers, the country’s largest industrial union said on Tuesday. The agreement, hammered out… Continue reading German union says auto and engineering workers to get 5.5% wage rise
Mild relief for rupee on slight recovery in Asia before US inflation data
The Reserve Bank of India “will continue to play a big role” in “making sure of an orderly pace” of decline for the rupee, he said. The Indian rupee is likely to inch up at the open on Wednesday on the back of a mild uptick in its Asian peers before U.S. inflation data that… Continue reading Mild relief for rupee on slight recovery in Asia before US inflation data
EV charging facility now available at every fifth petrol pump, but only 20% are fast chargers
Updated On Nov 13, 2024 at 07:53 AM IST Read by: 100 Industry Professionals Read by 100 Industry Professionals Utilisation remains extremely low as charging stations haven’t been able to address some fundamental challenges of EV owners, said an oil company executive engaged in setting up charging facilities at pumps. New Delhi: Every fifth petrol… Continue reading EV charging facility now available at every fifth petrol pump, but only 20% are fast chargers
IAC urges for Auto LPG adoption amid Delhi-NCR’s pollution crisis
The IAC is advocating for the retrofitting of vehicles to run on Auto LPG, citing it as a sustainable and immediate solution to reduce emissions and improve air quality. The Indian Auto LPG Coalition (IAC) is urging for the adoption of Auto LPG as a solution to combat the worsening air pollution in Delhi NCR,… Continue reading IAC urges for Auto LPG adoption amid Delhi-NCR’s pollution crisis
TVS Supply Chain Solutions reports INR 10.6 crore PAT in Q2 FY25
The company’s consolidated revenue from operations for the quarter under review witnessed a year-on-year increase, reaching INR 2,512.9 crore compared to INR 2,262.9 crore in the same period last year. TVS Supply Chain Solutions Ltd, part of the TVS Mobility Group, announced a consolidated profit after tax of INR 10.6 crore for the July-September 2024… Continue reading TVS Supply Chain Solutions reports INR 10.6 crore PAT in Q2 FY25
Constant innovation is the key to accelerate EV adoption
By continually evolving technology and policy, the EV ecosystem can achieve widespread acceptance and long-term growth. India is rapidly emerging as a leader in electric vehicle (EV) adoption, driven by technological advancements, falling battery costs, and a growing shift from policy-driven to consumer-led demand. According to Bloomberg NEF’s Electric Vehicle Outlook 2024 report, Indian EV… Continue reading Constant innovation is the key to accelerate EV adoption
Saju Mookken takes charge as Marelli’s India Country Manager to drive growth in automotive sector
Saju Mookken Marelli, a global automotive technology company, has appointed Saju Mookken as India Country Manager. Mookken, who has over 25 years of experience in the automotive industry, will lead Marelli’s strategic initiatives and growth in India. This appointment comes as India becomes the world’s third largest automotive market. Ravi Tallapragada, the previous Country Manager,… Continue reading Saju Mookken takes charge as Marelli’s India Country Manager to drive growth in automotive sector