Hyundai Motor has picked JP Morgan and Citi for its nearly USD 3 billion India IPO, bolstering plans to take its India unit public in the world’s third-biggest auto market, Reuters reported citing persons in the know. The firm plans to file regulatory papers in India by May- June, two of the three sources informed… Continue reading Hyundai chooses JP Morgan, Citi to bolster USD 3 billion IPO: Report
Author: Autocar_Professional India Online News
Govt hikes FAME 2 outlay by Rs 1,500 crore; Says scheme sops till March 31
The Ministry of Heavy Industries has enhanced the financial outlay for the second phase of the Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicle (FAME) scheme by Rs 1,500 crore to Rs 11,500 crore. The FAME 2 scheme was rolled out in 2019 with an outlay of Rs 10,000 crore for three years ending… Continue reading Govt hikes FAME 2 outlay by Rs 1,500 crore; Says scheme sops till March 31
Govt hikes FAME 2 outlay by Rs 1,500 cr; Says scheme sops till March 31
The Ministry of Heavy Industries has enhanced the financial outlay for the second phase of the Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicle (FAME) scheme by Rs 1,500 crore to Rs 11,500 crore. The FAME 2 scheme was rolled out in 2019 with an outlay of Rs 10,000 crore for three years ending… Continue reading Govt hikes FAME 2 outlay by Rs 1,500 cr; Says scheme sops till March 31
Hero MotorCorp’s Q3 profit up 51% YoY on higher volumes, realisation
Hero MotoCorp Ltd today reported strong growth in its net profit for the December quarter on a year-on-year basis, aided by robust improvement in margins. Higher volume and the premiumisation trend on top of moderation in input cost inflation boosted the company’s profit margins. India’s largest two-wheeler maker posted standalone net profit growth of 51%… Continue reading Hero MotorCorp’s Q3 profit up 51% YoY on higher volumes, realisation
Hero MotoCorp to invest Rs 600 crore for new parts centre in Andhra Pradesh
In a bid to expand its parts, accessories and merchandise business, Hero MotoCorp will invest up to Rs 600 crore over two years to set up a Global Parts Centre in Tirupati, Andhra Pradesh. The company’s focus on the Parts Accessories and Merchandise (PAM) business has led to the business crossing annualised revenue of Rs 5,000… Continue reading Hero MotoCorp to invest Rs 600 crore for new parts centre in Andhra Pradesh
Hero MotoCorp to invest Rs 600 crore for new parts centre in Andhra Pradesh
In a bid to expand its parts, accessories and merchandise business, Hero MotoCorp will invest up to Rs 600 crore over two years to set up a Global Parts Centre in Tirupati, Andhra Pradesh. The company’s focus on the Parts Accessories and Merchandise (PAM) business has led to the business crossing annualised revenue of Rs 5,000… Continue reading Hero MotoCorp to invest Rs 600 crore for new parts centre in Andhra Pradesh
Steelbird Hi-Tech reports Rs 687 crore revenue in CY2023
Steelbird Hi-Tech, a leading player in helmet manufacturing, reported revenues of Rs 687 crore during the calendar year 2023. The company shared that it had produced 80 lakh helmets in CY2023 and remains hopeful of reaching 10 million units in CY2024. In addition to the helmet sales, Steelbird Helmet sold 3,44,865 side boxes, contributing to… Continue reading Steelbird Hi-Tech reports Rs 687 crore revenue in CY2023
Steelbird Hi-Tech reports Rs 687 crore revenue in CY2023
Steelbird Hi-Tech, a leading player in helmet manufacturing, reported revenues of Rs 687 crore during the calendar year 2023. The company shared that it had produced 80 lakh helmets in CY2023 and remains hopeful of reaching 10 million units in CY2024. In addition to the helmet sales, Steelbird Helmet sold 3,44,865 side boxes, contributing to… Continue reading Steelbird Hi-Tech reports Rs 687 crore revenue in CY2023
JK Tyre Introduces Sikhsha Sarthi Scholarship Programme
JK Tyre has partnered with the Tata Institute of Social Sciences (TISS) and Protean Vidyadsaarthi to launch the ‘JK Tyre Shiksha Sarthi Scholarship Scheme’ exclusively for the daughters of heavy motor vehicle drivers from the states of Tamil Nadu and Karnataka. The newly launched scholarship program is tailored for various undergraduate courses, offering financial assistance… Continue reading JK Tyre Introduces Sikhsha Sarthi Scholarship Programme
Lectrix EV launches LXS 2.0 at Rs 79,999
Lectrix EV has launched the LXS 2.0 at Rs Rs 79,999. The e-scooter offers a range of 98kms on full charge and features a 2.3KW battery. Pre booking for the LXS 2.0 is now open with deliveries beginning from March 2024 onwards. K Vijaya Kumar, MD and CEO of SAR Electric Mobility said, “We understand… Continue reading Lectrix EV launches LXS 2.0 at Rs 79,999