The Lok Sabha on Friday passed the Mines and Minerals (Development and Regulation Amendment) Bill, 2023. This seeks larger participation of the private sector in mineral exploration and production including that for sought-after lithium. The Bill brings lithium out from the list of restrictive atomic minerals which require mining grants from the Centre. “The mineral… Continue reading Lok Sabha passes Mines and Minerals Amendment Bill
Author: Autocar_Professional India Online News
Confident that India will have minimum 5 fabs in 5-7 years: IT Minister Ashwini Vaishnaw: PTI
India’s global semiconductor ambition is getting a “huge response” from every part of the value chain, IT Minister Ashwini Vaishnaw said on Friday exuding confidence that the country will have at least five fabrication units (fabs) over the next 5-7 years, attracting multi-billion dollars in investments, PTI reported. Semiconductor is a “foundational industry” that feeds… Continue reading Confident that India will have minimum 5 fabs in 5-7 years: IT Minister Ashwini Vaishnaw: PTI
MG Motor India joins hands with Gujarat Government for MG Nurture and MG Sewa Initiatives
MG Motor India has announced that it had signed two MoUs with the Government of Gujarat as part of its community-focused initiatives for students and the general public. The first MoU was entered into with ‘Kaushalya, The Skill University’, a state government institution which aims at making youth ‘Skill Smart’, under the company’s MG Nurture program.… Continue reading MG Motor India joins hands with Gujarat Government for MG Nurture and MG Sewa Initiatives
Ather Energy and BPCL partner to install EV chargers at fuel stations
Bharat Petroleum Corporation (BPCL), a leading OMC has forged a strategic partnership with Ather Energy, to further strengthen and expand electric vehicle charging network. Through this collaboration, Ather Energy will get access to BPCL’s network of over 21,000 fuel stations across the country, enabling the installation of Ather’s fast-charging Grid. This collaboration strengthens Ather Energy’s… Continue reading Ather Energy and BPCL partner to install EV chargers at fuel stations
Tork Motors sets up first experience zone in Bengaluru
Tork Motors has inaugurated its first Experience Zone in Bengaluru announcing its entry into the state of Karnataka. The new facility will cater to the existing and potential customers in and around the city of Bengaluru and help establish Tork Motors’ footprint in the state. Customers will be able to get up-close with the KRATOS-R and gain… Continue reading Tork Motors sets up first experience zone in Bengaluru
BYD plans to drop US$ 1-billion EV investment plan, informs India JV partner: Report
BYD has told its India partner that it aims to drop its plans for a US $ 1 billion investment to manufacture electric cars, as its investment proposal faced scrutiny from New Delhi, Reuters reported, citing two persons in the know. BYD and its partner, privately held Megha Engineering and Infrastructures had given a proposal… Continue reading BYD plans to drop US$ 1-billion EV investment plan, informs India JV partner: Report
Hero MotoCorp receives an overwhelming response for Harley-Davidson X440
Harley-Davidson X440, the first co-developed premium motorcycle of Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters and iconic American motorcycle maker Harley-Davidson has received a positive response in customer bookings, since its launch on July 3, 2023. The company will close the online booking window on August 3, 2023, as the test rides at the national scale for… Continue reading Hero MotoCorp receives an overwhelming response for Harley-Davidson X440
MG Motor and IONAGE collaborate to build EV infrastructure
Motor India has partnered with IONAGE, a prominent eMobility Service Provider, to strengthen destination charging infrastructure across India, thus encouraging intercity travel by EVs. The partnership was officially announced with the inauguration of 10 destination charging stations across Lucknow, Trivandrum and Cochin. In this collaboration, MG Motor will leverage IONAGE’s advanced e-mobility platform to provide… Continue reading MG Motor and IONAGE collaborate to build EV infrastructure
Exide Q1 net profit up 11% at Rs 224 crore
Exide Industries, a leading industrial and automotive battery manufacturer, reported a 10.7 percent growth in its net profit of Rs 224.1 crore in the quarter ended June 2023 (Q1 FY24) as compared to a profit of Rs 202 crore in the corresponding quarter of last year. The company’s revenue in Q1FY24 increased 5.6 percent to… Continue reading Exide Q1 net profit up 11% at Rs 224 crore
Motherson Sumi Wiring India Q1 profit drops 2% to Rs 123 crore in Q1 FY24
Revenue growth was driven by increasing content per vehicle and a favourable product mix. The company also saw significant traction in the electric vehicle (EV) market, with year-over-year growth of 3x in Q1FY24. Motherson Sumi Wiring India Limited (MSWIL), a full-system solutions provider of the wiring harness segment to automotive manufacturers reported a 2% drop in… Continue reading Motherson Sumi Wiring India Q1 profit drops 2% to Rs 123 crore in Q1 FY24