Indian truck manufacturers, including Tata Motors and Ashok Leyland, advocated for component-level incentives and long-term asset utilization to boost the effectiveness of the Rs 500 crore PM E-Drive subsidy for electric trucks, during a consultative meeting hosted by the Ministry of Heavy Industries. Leaders from original equipment manufacturers (OEMs) asked the government to undertake programs… Continue reading OEMs propose component incentives for effective utilisation of e-truck Subsidy under PM E-Drive
Author: Autocar_Professional India Online News
Setco Auto records highest ever revenue in H1FY25 led by strong demand
Setco Automotive Ltd, one of India’s largest Medium and Heavy Commercial Vehicles (MHCV) clutch manufacturers, reported a 10% increase in revenue from operations in Q2 FY25 to Rs 159.9 crore up from Rs 145.7 crore in Q2 FY24. The company’s EBITDA for Q2 FY25 was Rs 26.0 crore, a 104% year-on-year growth from Rs 12.7… Continue reading Setco Auto records highest ever revenue in H1FY25 led by strong demand
Cyient and Allegro MicroSystems establish center of excellence in Hyderabad for automotive semiconductor development
Cyient, a global engineering services company, has announced an expanded partnership with Allegro MicroSystems, a provider of power and sensing solutions, through the launch of a Center of Excellence (CoE) in Hyderabad, India. Situated at Cyient’s Manikonda Campus, the CoE will focus on the development of magnetic sensors and power semiconductor products for the… Continue reading Cyient and Allegro MicroSystems establish center of excellence in Hyderabad for automotive semiconductor development
Safety tops the charts: Festive car buying trends highlight India’s evolving preferences
Cyient and Allegro MicroSystems establish center of excellence in Hyderabad for automotive semiconductor development Autocar Pro News Desk 15 Nov 2024 The new CoE will focus on creating advanced magnetic sensors and power semiconductors, supporting innovations in electric vehicles, ADAS, and embedded systems, while enhancing Allegro’s presence and expertise in India. Read more Go to Source
‘We have a three-pronged strategy for sustainable mobility’: Volvo Group’s Maria Ebbesson
Sweden’s Volvo Group is making a strong move towards sustainable mobility, with a clear focus to offer a completely fossil fuel free product portfolio by 2040. As a result, with a 10-year average product lifecycle of heavy commercial vehicles (trucks and buses), the company envisions achieving fossil-fuel free products in the market by 2050. According… Continue reading ‘We have a three-pronged strategy for sustainable mobility’: Volvo Group’s Maria Ebbesson
A veteran steps away: Ashish Tandon exits Tata Motors
Ashish Tandon, a seasoned executive and key architect behind Tata Motors’ small commercial vehicle (SCV) strategy, has resigned from his post, sources close to the matter revealed. Tandon, who held the title of Senior General Manager, informed colleagues of his departure through an internal email. Efforts to secure a comment from Tata Motors’ spokesperson went… Continue reading A veteran steps away: Ashish Tandon exits Tata Motors
Vecmocon secures Rs 83 Crore in series A funding to advance EV Technology
Vecmocon, a vehicle intelligence company, has secured Rs 83 Crore in the first phase of its Series A funding. The funding round was led by Ecosystem Integrity Fund (EIF) with participation from Blume Ventures and British International Investment (BII). This follows Vecmocon’s earlier pre-Series A funding round in 2022, where it raised Rs 43.16 Crore… Continue reading Vecmocon secures Rs 83 Crore in series A funding to advance EV Technology
Mercedes-Benz India announces price hike of up to 3% across all models from January 2025
Mercedes-Benz India has announced a revision in the ex-showroom prices of its entire model range, effective from January 1, 2025. The price increase will be up to 3%, depending on the model. This adjustment is attributed to rising input costs, inflationary pressures, and increased logistics expenses, which have been impacting the company’s operational costs and… Continue reading Mercedes-Benz India announces price hike of up to 3% across all models from January 2025
Tractor sales dip 1.64% in festive period amid sluggish infrastructure spending
Retail sales of tractors dropped by 1.64% during the 42-day festive period of the current financial year, making it the only vehicle category to face a decline during that period, according to data from the Federation of Automobile Dealers Association (FADA).Tractor sales declined due to a lack of infrastructure spending, FADA noted. Besides agricultural use,… Continue reading Tractor sales dip 1.64% in festive period amid sluggish infrastructure spending
“Festive cheer to continue even beyond festivals,” says Hero MotoCorp CEO
After clocking record sales during the recently concluded festival season, India’s largest two-wheeler maker Hero MotoCorp Ltd remains optimistic about the two-wheeler demand going forward. Wedding season and an uptick in rural sentiments are expected to boost sales ahead. “The positivity is continuing. This year we are seeing a lot of wedding days. A lot… Continue reading “Festive cheer to continue even beyond festivals,” says Hero MotoCorp CEO