For the passenger vehicle segment in May 2022, there were production constraints owing to the semiconductor shortage. New Delhi: The good news is that all segments of the automobile industry were in the green in May 2022. This comes after a long time and looks like a real relief. But the not-so-good news is that… Continue reading Auto sales in May 2022: All segments move up from the pandemic-marred low base of May 2021
Author: Economic Times of India Online News
Bilateral trade between India and Korea grew 40% to $23.7 billion in 2021
The bilateral trade between India and Korea grew 40 per cent to USD 23.7 billion in 2021, according to Korea Trade-Investment Promotion Agency (KOTRA). In 2020, the value of bilateral trade between the two countries was at USD 16.9 billion. KOTRA is the economic division of the Embassy of the Republic of Korea in India.… Continue reading Bilateral trade between India and Korea grew 40% to $23.7 billion in 2021
Supply snarls promise Southeast Asia bigger slice of trade pie
Trade disruptions from China’s lockdowns and the war in Ukraine are seen doing for Southeast Asia what the US’s spat with Beijing couldn’t meaningfully do — redistribute supply chains. “Much of the discussion around dependency on China has been linked to the US-China rivalry,” according to a report by Hinrich Foundation. But the latest “disruptions… Continue reading Supply snarls promise Southeast Asia bigger slice of trade pie
USPS expects to boost purchase of electric delivery vehicles
The US Postal Service (USPS) said on Wednesday it is seeking to boost the number of electric delivery vehicles it plans to buy as it modernizes its network for a new delivery plan. The USPS currently plans to buy at least 10% EVs including 10,019 of an initial $2.98 billion order of 50,000 from Oshkosh… Continue reading USPS expects to boost purchase of electric delivery vehicles
Jio-bp, MG Motor, and Castrol join hands to set up 4W e-charging infra in India
Representative Image New Delhi: Today MG Motor India and Castrol India entered into a partnership with Jio-bp to explore mobility solutions for electric cars. With this partnership, the companies will explore establishing a four-wheeler EV charging infrastructure and expand Castrol’s existing auto service network to cater to EV Customers. Under the partnership, Castrol will develop… Continue reading Jio-bp, MG Motor, and Castrol join hands to set up 4W e-charging infra in India
India’s Q1 growth seen in double digits but inflation, crude prices pose risks
India’s economy is off to a strong start in the new financial year with several high-frequency indicators holding firm despite multiple headwinds, bouncing back from the tepid fourth quarter of FY22. Data released June 1 showed goods and services tax (GST) collections topped ₹1.4 lakh crore for the third month running in May, while the… Continue reading India’s Q1 growth seen in double digits but inflation, crude prices pose risks
Can IPEF do for India what WTO did for China?
India has joined the US-led economic initiative Indo-Pacific Economic Framework, which is part of US efforts to put some economic heft into its Indo-Pacific presence that has been on the decline after its decision to quit the Trans Pacific Free Trade Agreement in 2017. The IPEF seeks to formulate a common set of rules and… Continue reading Can IPEF do for India what WTO did for China?
Mahindra Auto sales surge 208% to 53,726 units in May
Commercial vehicle sales of 24,794 units were posted in the month under review, while it was at 7,508 units in the year-ago period. Mahindra & Mahindra, one of India’s leading automotive companies, on Wednesday said it’s overall auto sales for the month of May 2022 rose to 53,726 vehicles, posting year-on-year growth of 208 per… Continue reading Mahindra Auto sales surge 208% to 53,726 units in May
GreenZo Energy plans Rs 400 crore investment to set up electrolyser factory
GreenZo Energy on Wednesday said it is planning to invest up to Rs 400 crore to set up a 250 MW electrolyser factory. The company will also spend Rs 70 crore on the R&D (Research & Development) for the production of the green hydrogen electrolyzer in 2022-23, the company said. In a statement, the company… Continue reading GreenZo Energy plans Rs 400 crore investment to set up electrolyser factory
EV retrofitting for two and three-wheeler: Cost of conversion and scope
Representative Image With millions of ICE (Internal Combustion Engine) vehicles on-road, India has the largest two-wheeler and three-wheeler market in the world. In the past few years, electric vehicles have gained popularity, especially in the 2-wheeler and 3-wheeler segments in the Indian market. In order to make e-mobility accessible to everyone, the Government of India… Continue reading EV retrofitting for two and three-wheeler: Cost of conversion and scope