78 percent jump in FAME 2 subsidies outlay in Budget 2023 evokes mixed reactions from industry Finance Minister Nirmala Sitharaman almost doubling FAME 2 Subsidies outlay with a 78 percent jump over FY23 allocations has evoked mixed reactions from domestic EV players. Speaking to Autocar Professional, Sohinder Gill, Director General of industry body Society of Manufacturers of Electric… Continue reading 78 percent jump in FAME 2 subsidies outlay in Budget 2023 evokes mixed reactions from industry
Author: Autocar_Professional India Online News
Yulu-Magna collaboration spawns new Battery-as-a-Service company
Global automotive Tier-1 giant Magna International’s major capital investment of US$ 77 million (Rs 613 crore) in Indian electric mobility service start-up Yulu, along with its investment into a new joint-venture energy company, in September 2022, has borne fruit in the form of a new battery-as-a-service (BaaS) brand – Yuma Energy. Yuma Energy has showcased its next-generation… Continue reading Yulu-Magna collaboration spawns new Battery-as-a-Service company
Yulu-Magna collaboration spawns new Battery-as-a-Service company
Global automotive Tier-1 giant Magna International’s major capital investment of US$ 77 million (Rs 613 crore) in Indian electric mobility service start-up Yulu, along with its investment into a new joint-venture energy company, in September 2022, has borne fruit in the form of a new battery-as-a-service (BaaS) brand – Yuma Energy. Yuma Energy has showcased its next-generation… Continue reading Yulu-Magna collaboration spawns new Battery-as-a-Service company
TVS Motor invests in Ion Mobility, to help drive EV growth in Singapore, Indonesia
TVS Motor invests in Ion Mobility, to help drive EV growth in Singapore, Indonesia TVS Motor Company, in a strategic move to expand its global footprint, has announced its association with Singapore-based tech company Ion Mobility. The Chennai-based two- and three-wheeler manufacturer has entered into an investment agreement with an aim to provide Ion the… Continue reading TVS Motor invests in Ion Mobility, to help drive EV growth in Singapore, Indonesia
TVS Motor invests in Ion Mobility, to help drive EV growth in Singapore, Indonesia
TVS Motor invests in Ion Mobility, to help drive EV growth in Singapore, Indonesia TVS Motor Company, in a strategic move to expand its global footprint, has announced its association with Singapore-based tech company Ion Mobility. The Chennai-based two- and three-wheeler manufacturer has entered into an investment agreement with an aim to provide Ion the… Continue reading TVS Motor invests in Ion Mobility, to help drive EV growth in Singapore, Indonesia
Mercedes-Benz India opens its first integrated 3S experience centre in Kochi
India’s largest luxury carmaker Mercedes-Benz today inaugurated its first integrated 3S MAR20X Sales and Service Experience Centre in the country. Spread across 50,000 square feet, Mercedes-Benz Coastal Star ‘MAR20X Experience Center’ with its dedicated EQ Display, AMG Performance Center and Exclusive Corner for Top End Vehicle (TEV) Display, is strategically located in Kochi, with proximity… Continue reading Mercedes-Benz India opens its first integrated 3S experience centre in Kochi
VECV reports 32% jump in January 2023 sales to 7181 units
Volvo Eicher Commercial Vehicles (VECV), a joint venture between Volvo Group and Eicher Motors, sold 7181 units in January 2023, up 32.1% from 5434 units in January 2022. This comprises 6992 Eicher brand vehicles and 189 Volvo brand vehicles. In terms of sales volume, the company noted in a statement that Eicher branded trucks and… Continue reading VECV reports 32% jump in January 2023 sales to 7181 units
Ashok Leyland’s net profit jumps to Rs 361 crore in Q3FY23 multifold growth
Ashok Leyland, the flagship company of the Hinduja Group, recorded a multifold increase in earnings after tax to Rs 361 crore for the third quarter ended December, backed by strong sales. During the similar period last year, the company earned Rs 6 crore in profit after tax. The company stated in a statement that revenue for… Continue reading Ashok Leyland’s net profit jumps to Rs 361 crore in Q3FY23 multifold growth
Royal Enfield registers 36.2% YoY volume growth in January 2023
Royal Enfield reported a domestic wholesale of 67,702 motorcycles in January 2023, representing a 36.2 percent increase over the 49,726 motorcycles sold in the same month the previous year. Similarly, the company exported 7,044 motorcycles in January this year, representing a 22.7 percent increase over the same period last year. B Govindarajan, CEO, Royal Enfield… Continue reading Royal Enfield registers 36.2% YoY volume growth in January 2023
Tata Motors looks to redefine its brand positioning for CVs
Mumbai-based Tata Motors, claims to be redesigning its brand positioning with the launch of its new tagline, ‘Desh ka Trucks,’ for its truck platforms – Prima, Signa, and Ultra. The campaign was first launched in September of last year, and it appears that the brand is now taking it to the next level with a… Continue reading Tata Motors looks to redefine its brand positioning for CVs