IntrCity, an inter-city mobility platform, offering both train and bus services, has secured Rs 37 crore in Series C funding, led by Mirabilis Investment Trust. The funding also saw participation from existing investors – Nandan Nilekani’s family trust (NRJN), Omidyar Network India and US-based Ujamaa Ventures. Post turning Ebitda profitable, IntrCity will strategically utilise the recently… Continue reading IntrCity secures over Rs 37 crore in Series C funding led by Mirabilis Investment Trust
Author: Autocar_Professional India Online News
TVS Motor total sales climb 33% YoY in February
The company despatched a total of 368,424 vehicles, including two-wheelers and three-wheelers, in February, against 276,150 units in the year-ago period. TVS Motor Co posted a healthy growth of 33% on year in its total volumes during February on the back of strong two-wheeler sales both in the domestic and export markets. The company despatched… Continue reading TVS Motor total sales climb 33% YoY in February
Oshkosh Corporation invests in AI powered battery management software firm Eatron Technologies
Oshkosh Corporation, an innovator of purpose-built vehicles and equipment, has invested in Eatron Technologies, an AI-powered Battery Management Software firm. Oshkosh’s investment in Eatron supports its vision to leverage advanced analytics and predictive modeling for lithium-ion batteries to manage its wide range of electric vehicles. “The investment in Eatron Technologies is part of our… Continue reading Oshkosh Corporation invests in AI powered battery management software firm Eatron Technologies
Ashok Leyland February sales volumes decline 6% to 16,451 units
Chennai-based commercial vehicle (CV) manufacturer, Ashok Leyland, clocked sales of 16,451 units in February 2024, registering a 6 percent year-on-year de-growth (February 2023: 17,578). M&HCVs comprised nearly 65 percent of the company’s total volumes, and their cumulative sales were pegged at 10,744 units (February 2023: 11,767 / -9%). Within M&HCVs, whereas the M&HCV trucks registered… Continue reading Ashok Leyland February sales volumes decline 6% to 16,451 units
Hyundai clocks 50,701 units in February, new Creta achieves best-ever monthly sales
After hitting best-ever domestic market monthly sales of 57,118 units in January 2024, Hyundai Motor India has reported February 2024 numbers of 50,201 units, up 7% year on year (February 2023: 47,001 units) but down 12% month on month. Demand for the company’s overall passenger vehicle range continues to be powered by the Creta midsize… Continue reading Hyundai clocks 50,701 units in February, new Creta achieves best-ever monthly sales
Tata Motors sells over 50,000 cars for second month in a row in February
Tata Motors has followed up its best-ever monthly sales performance in January 2024 (53,633 units) with wholesale dispatches of 51,267 units in February 2024, up 20% YoY (February 2023: 42,862 units). This marks the second month in a row that the carmaker has clocked sales of over 50,000 units and includes 6,923 EVs, up 30%… Continue reading Tata Motors sells over 50,000 cars for second month in a row in February
CG Power, Renesas, and Stars Microelectronics collaborate to establish semiconductor assembly and test facility in India
The joint venture, majority-owned by CG, plans to invest Rs 7,600 crores over five years, with funding sourced from subsidies, equity, and potential bank borrowings. In a significant development for India’s semiconductor industry, CG Power and Industrial Solutions Limited (CG), Renesas Electronics Corporation (Renesas), and Stars Microelectronics (Thailand) Public Co. Ltd (Stars Microelectronics) have joined… Continue reading CG Power, Renesas, and Stars Microelectronics collaborate to establish semiconductor assembly and test facility in India
Royal Enfield posts 6% YoY growth in February wholesales
Royal Enfield recorded 6 percent on-year growth in its February sales as the two-wheeler maker continues to witness an uptick in rural and international markets. The automaker dispatched a total of 75,935 two-wheelers during the month, against 71,544 units in the same month the previous year. About 90 percent of the Royal Enfield sales come… Continue reading Royal Enfield posts 6% YoY growth in February wholesales
Qualcomm Technologies and C-DOT partner to augment growth of indigenous telecom products
The Centre for Development of Telematics (C-DOT) has announced plans to partner with Qualcomm Technologies to support India-based developers and start-ups working on innovative products and use cases. The Centre for Development of Telematics is a public funded research institution focused on telecom technology by the Government of India. This announcement was made at the just concluded… Continue reading Qualcomm Technologies and C-DOT partner to augment growth of indigenous telecom products
Mahindra & Mahindra SUV sales jump 40% in February to 42,401 units
With SUVs accounting for over 55% of total passenger vehicle sales in India in the current fiscal year, Mahindra & Mahindra is making the most of the sustained and surging wave of consumer demand for this vehicle type. In February 2024, the Mumbai-based auto major sold a total of 42,401 units, which makes for robust… Continue reading Mahindra & Mahindra SUV sales jump 40% in February to 42,401 units