Kelei Shen New Delhi: Marelli, a global mobility technology supplier, announced that Kelei Shen will become Executive Vice President and President China starting July 1, 2024. Shen will drive Marelli’s extensive growth plans in China, focusing on growth, innovation, operational and financial performance, commercial excellence, cross-selling, and employee engagement. Kelei Shen will lead Marelli’s business… Continue reading Marelli Group appoints Kelei Shen as Executive Vice President and President of China
Author: Economic Times of India Online News
Suzuki launches INR 340 cr investment vehicle Next Bharat Ventures for Indian startups
It will also act as a fund-of-funds (FoF), investing as an LP in other smaller funds. Japanese automotive major Suzuki has launched a venture investing arm — Next Bharat Ventures — with a corpus of INR 340 crore to back early-stage startups. The vehicle will be set up as a subsidiary of Suzuki, which is… Continue reading Suzuki launches INR 340 cr investment vehicle Next Bharat Ventures for Indian startups
Hindustan Zinc committed to partner with India’s auto firms: CEO
Hindustan Zinc has been a long-time upstream partner to the auto industry, providing a diverse metal portfolio for various applications, from car bodies to batteries, chips, additional accessories and corrosion-resistant components. New Delhi: Vedanta group firm Hindustan Zinc on Wednesday said it is committed to partner with the country’s auto companies to “unlock zinc potential”… Continue reading Hindustan Zinc committed to partner with India’s auto firms: CEO
StreetSmartees campaign continues to empower young minds for safer roads
The StreetSmartees campaign is more than just a series of workshops; it is a movement towards a safer future on our roads. New Delhi: Envalior‘s StreetSmartees campaign, in association with ETAuto, reached the vibrant city of Bangalore. The innovative road safety initiative, primarily focused on pre-primary children, is aimed at instilling essential safety habits from… Continue reading StreetSmartees campaign continues to empower young minds for safer roads
Matter Group raises USD 35 mn from US-based Helena, others
“We have onboarded Helena and notable investors (with this fund raise). We are creating accessible, reliable, and high-performance products driven by our technology,” said Mohal Lalbhai, Founder and CEO of Matter Group. EV and energy storage startup Matter Group on Wednesday announced securing USD 35 million in the ongoing Series B funding round led by… Continue reading Matter Group raises USD 35 mn from US-based Helena, others
Chinese firms eye Morocco as way to cash in on US electric vehicle subsidies
Critics say the rules are a giveaway to China and will extend its EV dominance. After the United States passed new subsidies designed to boost domestic electric vehicle production and cut into Beijing’s supply chain dominance, Chinese manufacturers began investing in an unlikely place: Morocco. In the rolling hills near Tangiers and in industrial parks… Continue reading Chinese firms eye Morocco as way to cash in on US electric vehicle subsidies
EU governments waver over Chinese EV tariffs as trade spat escalates
The bloc is set to confirm on Thursday provisional duties of up to 37.6% on Chinese brands such as BYD, Geely and SAIC, as well as on China-made models of Tesla, BMW and other western automakers. EU countries are wavering over whether to back additional tariffs on Chinese-built electric vehicles, highlighting Brussels’ challenge in building… Continue reading EU governments waver over Chinese EV tariffs as trade spat escalates
Biggest EU lawmaker group wants 2035 combustion car ban revised, draft shows
The document added that the group wanted to “revise the ban on combustion engines and develop cutting-edge combustion engine technology”. The European People’s Party, the biggest lawmaker group in the European Parliament, will seek to weaken the bloc’s planned 2035 phase-out of CO2-emitting cars, a draft document showed. The EPP won the biggest share of… Continue reading Biggest EU lawmaker group wants 2035 combustion car ban revised, draft shows
Automakers take lead in FY24 salary hikes with double-digit raises
As per Deloitte, the average salary hike in the auto sector this year is 10.4%. The increments for top performers in the sector are higher than 2023. New Delhi: Automakers have taken the lead in salary increases among all sectors in India, handing out double-digit hikes to their employees for fiscal 2024 amid a robust… Continue reading Automakers take lead in FY24 salary hikes with double-digit raises
Rupee may dip amid little relief for Asian peers from Powell’s remarks
It was “likely to be a holding” session for the rupee with risk “slightly on the 83.55 way than on the 83.45”, he said. The Indian rupee is expected to open marginally weaker or flat on Wednesday as comments from the Federal Reserve Chairman on inflation progress provided scant relief to Asian peers. Non-deliverable forwards… Continue reading Rupee may dip amid little relief for Asian peers from Powell’s remarks