Autocar_Professional India Online News – Page 1188

M&M Q2 Result: Net profit jumps 67% to Rs 3,452 crore

Mumbai-based auto major Mahindra & Mahindra reported a standalone net profit of Rs 3,452 crore, translating to a year-on-year growth of 67%, on the back of strong sales of SUVs. Standalone revenue for the second quarter of FY24 was Rs 25,773, resulting in an increase of 17% on a year-on-year basis. EBITDA in Q2 FY24… Continue reading M&M Q2 Result: Net profit jumps 67% to Rs 3,452 crore

Renault Korea Motors to contract-manufacture Polestar 4 at Busan plant

Swedish electric performance car brand Polestar has confirmed the next step in diversifying its manufacturing footprint. Manufacturing of Polestar 4 in Hangzhou Bay, China, will be complemented with manufacturing in Busan, South Korea, expected to start during the second half of 2025. An agreement has been reached between Polestar, Geely Holding and Renault Korea Motors (RKM),… Continue reading Renault Korea Motors to contract-manufacture Polestar 4 at Busan plant

Renault Korea Motors to contract-manufacture Polestar 4 at Busan plant

Samvardhana Motherson registers 28% growth to clock Rs 23,474 crore in Q2 FY24

Noida-headquartered Tier-1 major of a highly-diversified automotive component product portfolio encompassing wiring harnesses, to rear-view mirrors, and interior trim components among others, Samvardhana Motherson International has reported revenues of Rs 23,474 crore in Q2 FY24, registering a 28 percent year-on-year growth. Its EBITDA, at Rs 2,001 crore, registered a 34 percent growth, while profit-after-tax (PAT)… Continue reading Samvardhana Motherson registers 28% growth to clock Rs 23,474 crore in Q2 FY24

Samvardhana Motherson registers 28% growth to clock Rs 23,474 crore in Q2 FY24

Not looking for investors now; equity infusion will drive Switch Mobility’s future, says Dheeraj Hinduja

Chennai-based Ashok Leyland, which has approved an equity infusion of Rs 1200 crore in its electric vehicle arm, Switch Mobility, has currently put a pause on raising external funding for the time being as it believes that it is enough to meet its development needs for the coming few years. Dheeraj Hinduja, the Executive Chairman of… Continue reading Not looking for investors now; equity infusion will drive Switch Mobility’s future, says Dheeraj Hinduja

Ashok Leyland expects stronger profits in H2 FY24: CFO Gopal Mahadevan

Ashok Leyland, the country’s second-biggest medium- and heavy truck maker, expects to deliver a better second half both on volumes and margins, on the back of strong demand and softening raw material prices. Gopal Mahadevan, CFO at Ashok Leyland, said, “Our chairman had guided for a double-digit EBIDTA for FY24. In Q1, we had posted… Continue reading Ashok Leyland expects stronger profits in H2 FY24: CFO Gopal Mahadevan

Bastian Solutions opens first conveyor manufacturing plant in India

Bastian Solutions has announced the official opening of its conveyor manufacturing plant, signifying the next expansion of its technology portfolio in India. This achievement marks a strategic leap for the company. Hitoshi Matsuoka, President and CEO of Toyota Advanced Logistics North America, the parent company of Bastian Solutions, was in attendance at the grand opening.… Continue reading Bastian Solutions opens first conveyor manufacturing plant in India