Underperforming vehicles will be dropped as the Peugeot and Citroen lineups are streamlined around more profitable models, mirroring the European turnaround strategy now powering record margins in PSA’s home markets. BEIJING/PARIS: Peugeot maker PSA Group and partner Dongfeng Group have agreed to cut thousands of jobs in China and drop two of their four shared… Continue reading PSA, Dongfeng to drop two China auto plants, halve workforce
Author: Economic Times of India Online News
Indonesia president signs new EV decree to bolster industry
JAKARTA: Indonesian President Joko Widodo said on Thursday he signed a decree that lays out government support to build an electric vehicle (EV) industry in Southeast Asia’s largest economy, the Cabinet Secretariat said in a statement. Widodo did not elaborate, but a draft of the decree reviewed by Reuters ahead of the signing showed it… Continue reading Indonesia president signs new EV decree to bolster industry
Continental’s powertrain business gravitates towards electric
With this strategy and gradual optimizations to the portfolio, Continental aims to ensure that the powertrain business remains financially strong, competitive and sustainable in the long term. New Delhi: German car parts group, Continental is making a big move towards electric mobility by putting a stronger focus on electrified drive systems. This is due to… Continue reading Continental’s powertrain business gravitates towards electric
Auto industry seeks stimulus package from government
The auto industry also wants the government to direct banks not to reduce lending to those segments which has the lowest NPA, such as the passenger vehicles segment. NEW DELHI: Auto industry leaders on Wednesday asked the government for a stimulus package, including GST reduction on vehicles, for the sector which has been hit by… Continue reading Auto industry seeks stimulus package from government
Tens of thousands losing jobs as India’s auto crisis deepens
The malaise has been spreading across much of the industry, both in terms of vehicle type and components as well as geographically in India’s manufacturing hubs. By Sudarshan Varadhan, Aditi Shah and Aftab Ahmed NEW DELHI : Slumping sales of cars and motorcycles are triggering massive job cuts in India’s auto sector, with many companies… Continue reading Tens of thousands losing jobs as India’s auto crisis deepens
50 centres to charge electric vehicles to come up in Hyderabad
Accept the updated privacy & cookie policy Dear user, The EconomicTimes.com privacy and cookie policy has been updated to align with the new data regulations in European Union. Please review and accept these changes below to continue using the website. You can see our privacy policy & our cookie list below. We use cookies to… Continue reading 50 centres to charge electric vehicles to come up in Hyderabad
Tata Motors announces partnership with Tata Power to set up public EV charging infrastructure
To be operated by Tata Power, the companies plan to set up 300 charging stations across Mumbai, Delhi, Pune, Bengaluru, and Hyderabad by the end of the fiscal year 2019-20. MUMBAI: To address the concern of a lack of public charging infrastructure for electric vehicles, Tata Motors announced a partnership with another group company Tata… Continue reading Tata Motors announces partnership with Tata Power to set up public EV charging infrastructure
Ampere founder Hemalatha may exit company next year
“Right now we are not producing at peak capacity but with the GST cut if demand goes up we will expand and go in for a second plant,’’ said Annamalai. Chennai: Ampere founder Hemalatha Annamalai, may exit e-vehicle maker in a year depending on how things pan out. “After the end of next year, both… Continue reading Ampere founder Hemalatha may exit company next year
Groupe PSA opens India Technical Center
The India Technical Center will play a key role in the smoother and more efficient working of the employees of PSA India New Delhi: French auto manufacturer Groupe PSA has opened its India Technical Center in Chennai One, part of one of the Chennai Special Economic Zones. The company claims this technical centre will enable… Continue reading Groupe PSA opens India Technical Center
Visteon Corporation’s net income down by 80% at $7 million in 2019 Q2
Visteon has claimed in a release that it received new business amounting to $3.2 billion in the first half of 2019 (January-June), with 60% attributed to digital clusters, displays and SmartCore domain controller. New Delhi: American automotive electronics provider Visteon Corporation has reported 80% drop in its net income in the second quarter of 2019… Continue reading Visteon Corporation’s net income down by 80% at $7 million in 2019 Q2