The US and South Korea finalized a trade deal, setting auto and auto parts tariffs at 15% and structuring a $350 billion investment in the US. A trade deal reached by the US and South Korea on Wednesday at their leaders’ summit is a best-case compromise to untangle a deadlock in tariff talks that had… Continue reading US-South Korea compromise trade deal welcomed by Hyundai Motor and markets
Author: Economic Times of India Online News
Italdesign CEO says parent Volkswagen may decide unit’s future by year-end
Volkswagen may decide the future of its Italian design unit, Italdesign, by year-end. Volkswagen could decide on the future of its Italy-based design and engineering unit Italdesign by the end of this year, Italdesign CEO said on Tuesday. The German automaker, which is under pressure to overhaul its European operations amid increasing competition and soft… Continue reading Italdesign CEO says parent Volkswagen may decide unit’s future by year-end
India, EU need more talks on steel, autos, carbon levy for trade deal
The EU is Indias biggest trading partner in goods, with bilateral trade hitting $137.5 billion in the 2023/24 fiscal year, up nearly 90 per cent over the past decade. India and the European Union agreed that issues related to steel, automobiles, carbon levies and other EU regulations require further discussions due to higher sensitivities, New… Continue reading India, EU need more talks on steel, autos, carbon levy for trade deal
EV demand rebounds after GST cut on ICE cars slows sales: Report
The ongoing wedding season and attractive exchange offers are expected to provide a temporary boost to sales across entry-level vehicle segments. Electric passenger vehicle volumes are regaining momentum after an initial slowdown caused by the government’s reduction in GST on internal combustion engine (ICE) vehicles, according to a report by YES Securities. The brokerage noted… Continue reading EV demand rebounds after GST cut on ICE cars slows sales: Report
25 EV charging centres to come up in Prayagraj
Its focus is on promoting the rapid adoption of electric vehicles, developing a robust network of charging infrastructure, and making Uttar Pradesh a global hub for EV and battery manufacturing. With state govt promoting green transport for environmental protection, plans are afoot to set up as many as 25 public electric vehicle (EV) charging centres… Continue reading 25 EV charging centres to come up in Prayagraj
After KYC, compulsory KYV is here. And it’s driving people up the wall
Know Your Vehicle If recurring KYCs was not enough, there’s now a KYV that you must go through if you happen to own a vehicle. Short for know your vehicle, this new process that is supposed to sanitise your FASTag is the latest compliance burden to be thrust on Indians. What was the need? Apparently,… Continue reading After KYC, compulsory KYV is here. And it’s driving people up the wall
Mobility startup Tsuyo Manufacturing raises $4.5 million in round led by Avaana Capital
(L-R) Lalit, TripurariKumar and VijayKumar, founders, Tsuyo Mobility startup Tsuyo Manufacturing has raised $4.5 million in a funding round led by early-stage investment firm Avaana Capital. The company will utilise the funds to build a new greenfield manufacturing facility, set up a research and development (R&D) centre, and expand its export operations and partnerships with… Continue reading Mobility startup Tsuyo Manufacturing raises $4.5 million in round led by Avaana Capital
TVS Motor faces challenges with EV demand
TVS iQube EV TVS Motor Company has reported that demand for electric two-wheelers has been impacted due to the shortage of rare earth magnets. “EV demand is constrained because of the magnet crisis. Had magnets been available, the industry would have reported much higher sales,” said K. N. Radhakrishnan, Director and Chief Executive Officer, during… Continue reading TVS Motor faces challenges with EV demand
China excludes EVs in latest five-year plan as industry grapples with oversupply
Automobiles were mentioned alongside housing, with the government urging the removal of purchase restrictions to boost consumption. China has omitted electric vehicles from its list of strategic industries in its five-year development plan for 2026-2030, marking their first exclusion in more than a decade, as the sector grapples with oversupply challenges. New energy vehicles (NEVs)-… Continue reading China excludes EVs in latest five-year plan as industry grapples with oversupply
BMC deadline to submit bids for smart parking system
The civic body has set Oct 30 as the new deadline for the submission of bids for the commissioning, operation, and maintenance of a smart parking system across the city Mumbai: After delays, the civic body has set Oct 30 as the new deadline for the submission of bids for the commissioning, operation, and maintenance… Continue reading BMC deadline to submit bids for smart parking system