Autocar_Professional India Online News – Page 1544

Electric two-wheeler sales in July cross 51,000 units, improve on June by 11%

August has dawned and brings with it the news that sales of electric two-wheelers in India, which had plunged 56% in June 2023 following the slashing of the FAME II subsidy, have picked up again . . . albeit marginally. At 51,299 electric scooters and bikes retailed last month, July 2023 sales are 11.55% better… Continue reading Electric two-wheeler sales in July cross 51,000 units, improve on June by 11%

Maruti Suzuki Q1 net profit up 145% at Rs 2485 crore

Maruti Suzuki India, the largest passenger car manufacturer in the country, reported a 145% jump in its standalone net profit of Rs 2,485.1 crore in the quarter ended June 2023 (Q1 FY24). This was on account of larger sales volumes, improved realization, cost reduction efforts, and higher non-operating income. The company posted a net profit… Continue reading Maruti Suzuki Q1 net profit up 145% at Rs 2485 crore

Ola S1 no longer in continuation

The Ola S1 electric scooter has seen plenty of change in the last couple of years with a constantly evolving model mix. The latest change is that Ola has now dropped the mid-spec S1 model making it a simpler two-model line-up. Last week, Autocar India reported that Ola Electric was going to open its purchase window… Continue reading Ola S1 no longer in continuation

TelioEV listed over 10,000 EV charging stations on its Discovery App

TelioEV, an EV Charging Management Solutions provider, has announced listing over 10,000 EV charging stations on its Discovery App within twelve months since its inception. These charging stations are strategically located across 27 states, covering major cities, towns, and highways. The top three states with the highest number of charging stations where TelioEV has partnered… Continue reading TelioEV listed over 10,000 EV charging stations on its Discovery App

Maruti Suzuki to acquire Suzuki Motor Gujarat operation, terminate contract manufacturing

The Board of Directors of Maruti Suzuki on Monday approved the termination of the contract manufacturing agreement with Suzuki Motor Gujarat Private Limited (SMG) and exercising the option to acquire the shares of SMG from Suzuki Motor Corporation (SMC) subject to all legal and regulatory compliances including minority shareholders’ approval. The mode of acquisition including… Continue reading Maruti Suzuki to acquire Suzuki Motor Gujarat operation, terminate contract manufacturing

Mufin Green Finance raises US$ 1 million from Shell Foundation

Mufin Green Finance – India’s first listed NBFC dedicated to EV financing has recently secured US$ 1 million funding from Shell Foundation, a UK registered charity. The aim is to create a US$ 2 million joint de-risking pool in the form of FLDG (First Loan Default Guarantee), which will unlock commercial capital for 2-wheelers and… Continue reading Mufin Green Finance raises US$ 1 million from Shell Foundation

Mufin Green Finance raises US$ 1 million from Shell Foundation

Altigreen partners with SAP to bolster customer experiences

India’s commercial electric vehicle maker Altigreen is using SAP’s cloud-enabled Enterprise Resource Planning software for business transformation by integrating it’s its core business processes into a single unified system. Sharing his thoughts on the partnership, Arun Maheshwari, CIO, Altigreen, said, “Altigreen is a young and ambitious EV OEM. It had clarity from day one that along with… Continue reading Altigreen partners with SAP to bolster customer experiences

Log9 Materials, Hala Mobility India form strategic partnership for cleaner mobility solutions

Log9 Materials, a Bengaluru-based deep technology and advanced battery technology start-up announced a long-term strategic partnership with Hala Mobility India, a multimodal EV-logistics services platform headquartered in Hyderabad. As part of the partnership, Hala Mobility will gain access to 1500 cutting-edge electric two-wheelers called BzinessLite InstaCharged by Log9 Materials. Additionally, Log9 will provide Hala Mobility… Continue reading Log9 Materials, Hala Mobility India form strategic partnership for cleaner mobility solutions

Castrol India reports Rs 225 crore net profit during Q2CY23

Castrol India, counted among the country’s leading lubricant manufacturers for the auto industry, reported a net profit of Rs 225 crore for Q2 CY2023, a growth of Rs 206 crore registered during the corresponding period of the previous year. The company’s revenues from operations, on the other hand, witnessed a 7% jump to Rs 1,334 crore… Continue reading Castrol India reports Rs 225 crore net profit during Q2CY23