The finance chief of Volkswagen’s core brand, Patrik Andreas Mayer, is to swap roles with his counterpart at the automaker’s Seat subsidiary in Spain. The finance chief of Volkswagen‘s core brand, Patrik Andreas Mayer, is to swap roles with his counterpart at the automaker’s Seat subsidiary in Spain, Volkswagen confirmed on Monday. Mayer, who has… Continue reading VW to swap out brand CFO with Seat counterpart
Author: Economic Times of India Online News
China, price cuts and costs: the fuel driving Volkswagen’s crisis
Volkswagen faces challenges as profits from China have halved in a decade and Europe’s car market is shrinking. In May, Volkswagen finance chief Arno Antlitz warned that Europe’s top carmaker had about two or three years to prepare for cut-throat competition from abroad, mainly China. Last week, he cut that already-tight timetable by a year,… Continue reading China, price cuts and costs: the fuel driving Volkswagen’s crisis
VW boss says European market shrinking amid tougher competition
VW CEO Oliver Blume announced cutbacks in Germany due to a shrinking European market. Volkswagen‘s CEO, who is pushing for unprecedented cutbacks in the German carmaker’s home market, said change was needed because the European market is shrinking while competition is increasing. Speaking in an interview in Sunday paper Bild am Sonntag, Volkswagen CEO Oliver… Continue reading VW boss says European market shrinking amid tougher competition
I am not against incentives, but cost of EVs to be same as ICEs by 2 years, says Nitin Gadkari
Nitin Gadkari mentioned that even without subsidies, the cost of electric vehicles can match petrol and diesel vehicles within two years. New Delhi: Union Minister of Road Transport and Highways Nitin Gadkari on Monday clarified that he is not against providing incentives for any particular fuel technology. “I am not against incentives. If MoHI (Ministry… Continue reading I am not against incentives, but cost of EVs to be same as ICEs by 2 years, says Nitin Gadkari
EMPS will continue to boost EV adoption in India, says HD Kumaraswamy
H D Kumaraswamy New Delhi: HD Kumaraswamy, Union Minister of Heavy Industries has given a clarification amid the perplexity of the automobile players regarding the extension of the temporary EMPS scheme. The Electric Mobility Promotion Scheme (EMPS), which was supposed to be concluded on 30 September 2024, will be extended beyond its scheduled time. This… Continue reading EMPS will continue to boost EV adoption in India, says HD Kumaraswamy
Exclusive : New electric vehicle policy awaits applicants after Tesla pulled back, no SOPs framed yet
Industry sources said that two-three global OEMs have shown interest in setting up manufacturing facilities under this policy . New Delhi : It has been nearly six months since the government announced an E-Vehicle policy to promote India as a manufacturing destination for global electric vehicle OEMs by offering import concessions on large cars in… Continue reading Exclusive : New electric vehicle policy awaits applicants after Tesla pulled back, no SOPs framed yet
World is watching, steps we take today will shape future of industry, says Maruti Suzuki MD
Takeuchi noted the importance of investing in R&D and collaborating across the value chain to achieve this balance. New Delhi: Indian auto component industry exports over 25% of its production annually. Last year it exported components worth USD 20 billion. However, this is less than 2% of global auto industry trade, giving us a huge… Continue reading World is watching, steps we take today will shape future of industry, says Maruti Suzuki MD
Four reasons to double down on investment in R&D for electric vehicles in India
Published On Sep 9, 2024 at 08:48 AM IST Read by: 100 Industry Professionals Read by 100 Industry Professionals The roadmap suggests allocating INR 1,152 crore over five years to boost EV manufacturing. The Principal Scientific Adviser (PSA) to the Government of India released the e-Mobility R&D Roadmap for India in mid-July. It highlights the… Continue reading Four reasons to double down on investment in R&D for electric vehicles in India
This is India’s chance to make a mark in EVs, says Pawan Goenka
“Industry should set for itself a clear target on increasing exports of vehicles from 14% to a higher number by a certain deadline,” says Goenka, New Delhi: Pawan Goenka smiles when the topic switches to the ideal clean fuel for India’s automobile industry which he terms “a multibillion dollar question and the big elephant in… Continue reading This is India’s chance to make a mark in EVs, says Pawan Goenka
Two-wheelers, tractors to surge with 14% and 10% CAGR through FY27: Jefferies report
Two-wheelers, tractors to surge with 14% and 10% CAGR through FY27: Jefferies report New Delhi: Domestic auto sector is poised for strong growth, particularly in the two-wheeler (2W) and tractor segments. Over FY24-27 (estimated), these two segments are expected to outpace the broader industry with compound annual growth rates (CAGR) of 14 % and 10… Continue reading Two-wheelers, tractors to surge with 14% and 10% CAGR through FY27: Jefferies report