The selected consulting firm will also be tasked with attracting companies and start-ups from the fields of e-mobility, aerospace, defence, logistics, and medical devices to the park. In a significant step towards industrial development in Kerala’s capital district, an electric vehicle (EV) research and industrial park is set to be established at Vilappilsala. The park,… Continue reading State’s first EV industrial park to be developed in Vilappilsala
Author: Economic Times of India Online News
Schaeffler India announces winners of 2024 Social Innovator Fellowship Program
This is the third year of the fellowship program, which is open to applicants between 18 and 35 years old from various institutions, including startups and non-profit organisations. Schaeffler India has announced the winners of its ‘Schaeffler India Social Innovator Fellowship Program’ for 2024, a program designed to support social entrepreneurs creating sustainable solutions. The… Continue reading Schaeffler India announces winners of 2024 Social Innovator Fellowship Program
Another day of all-time low for rupee as dollar, US rates extend rally
The central bank has been allowing the currency to depreciate following the U.S. elections at a pace that it reckons will not spur excessive volatility. The Indian rupee is likely to dip to a lifetime low on Thursday in wake of the dollar and U.S. rates extending their post-U.S. election rally. The 1-month non-deliverable forward… Continue reading Another day of all-time low for rupee as dollar, US rates extend rally
Holdco to house Tata Motors’ demerged CV, PV businesses
Updated On Nov 14, 2024 at 09:10 AM IST Read by: 100 Industry Professionals Read by 100 Industry Professionals Tata Motors posted its highest-ever consolidated revenue at ‘4.38 lakh crore in fiscal 2024. JLR contributed 70% to the revenue, followed by CVs at 18% and the non-JLR PV business at 12%. Tata Sons is understood… Continue reading Holdco to house Tata Motors’ demerged CV, PV businesses
Two-wheelers lead festive auto sales; passenger vehicles and three-wheelers show stability
The three-wheeler segment recorded a slight Y-o-Y decline of 0.7%, with domestic sales decreasing from 77,344 units in October 2023 to 76,770 units in October 2024. The passenger vehicle (PV) segment recorded a marginal year-on-year (Y-o-Y) growth of 0.9% in October 2024, while the three-wheeler segment experienced a slight decline of 0.7%. In contrast, the… Continue reading Two-wheelers lead festive auto sales; passenger vehicles and three-wheelers show stability
Global EV sales up 35% in October, Europe ekes out a gain
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
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