Ramkrishna Forgings has won four new contracts worth Rs 388 crore from companies in Europe and North America during Q1FY23. Importantly, one of the new orders involves differential housing cases, thereby enabling the component major to move up the value chain and diversify its product portfolio, the company’s top leadership noted. Lalit Khetan, whole time director & CFO… Continue reading Ramkrishna Forgings bags four contracts
Author: Autocar_Professional India Online News
Ola signs PLI pact with Heavy Industries Ministry for local battery cell manufacturing
Ola Electric has today signed the agreement under the Production Linked Incentive (PLI) scheme by the government of India to manufacture advanced cells in India. Ola Electric is the only Indian EV company selected by the government under its ambitious Rs 80,000 crore cell PLI scheme, receiving the maximum capacity of 20 GWh for its… Continue reading Ola signs PLI pact with Heavy Industries Ministry for local battery cell manufacturing
Visteon records robust Q2, $3.1 billion in new business in H1
Automotive electronics major Visteon has reported net sales of $848 million, representing a year-over-year increase of 42%, driven by new product launches and positive pricing due to incremental costs recoveries related to semiconductor shortages. Total industry production was flat while vehicle production at Visteon’s top customers increased 6% in the same period. The company’s sales… Continue reading Visteon records robust Q2, $3.1 billion in new business in H1
TVS Motor records highest-ever revenue, profit, 2W exports in Q1 FY2023
TVS Motor Company is on a roll. The Chennai-based two- and three-wheeler manufacturer has reported operating revenue of Rs 6,009 crore for the April-June 2022 quarter, which constitutes 53% year-on-year growth (Q1 FY2022: Rs 3,934 crore). EBITDA of Rs 599 crore in Q1 FY2023 is a 118% increase (Q1 FY2022: Rs 274 crore), while profit… Continue reading TVS Motor records highest-ever revenue, profit, 2W exports in Q1 FY2023
Omega Seiki, Log9 target India’s e-commerce market with 95km range e-three-wheeler
EV manufacturer Omega Seiki Mobility and the Bengaluru-headquartered advanced battery-tech and deep-tech start-up Log9 Materials today unveiled a jointly-developed, upgraded, longer-range version of Rage+ electric three-wheeler named ‘Rage+ RapidEV Pro’, which comes equipped with Log9’s 7.7 KWh battery, the RapidX 8000. The Rage+ RapidEV Pro, powered by a new 7.7kWH Log9 battery, is available in… Continue reading Omega Seiki, Log9 target India’s e-commerce market with 95km range e-three-wheeler
Volkswagen’s global sales down 23% in H1 amid chip woes
Volkswagen Passenger Cars has reported strong financial numbers for the January to June 2022 period. Effective sale management, improved cost efficiency and consistent implementation of the ACCELERATE strategy have led to a strong financial result. Operating result before special items rose to 1.9 billion euros (H1 2021: 1.2 billion euros). The operating return on sales… Continue reading Volkswagen’s global sales down 23% in H1 amid chip woes
Tata Motors ties up with Axis Bank to finance EV dealers
Shailesh Chandra (L) and Sumit Bali(R) at the signing of the MoU. Tata Motors has teamed up with Axis Bank to provide an exclusive electric vehicle dealer financing solution to its authorized passenger EV dealers. As part of this scheme, dealers can obtain inventory financing above and beyond their ICE finance limit at attractive rates based on… Continue reading Tata Motors ties up with Axis Bank to finance EV dealers
Ceat launches tyres for four-wheeler EVs
Ceat has launched a range of tyres specifically designed for four-wheeler EVs. Normally, EVs operate as silent vehicles with high torque, making the tyre noise more evident. It’s new ‘EnergyDrive’ tyres, the company claims has what it describes as CALM (CEAT Acoustic Lowering Material) technology created using patented sound absorbing material which reduces noise by filtration… Continue reading Ceat launches tyres for four-wheeler EVs
Apollo targets dollar 5 billion in revenue by FY26
Apollo Tyres, India’s second largest tyre manufacturer, has worked on a roadmap to reach $ 5 billion revenue by FY26 without compromising on return on capital employed (ROCE) which it expects to be in range of 12-15 percent, earnings before interests taxes, depreciation & amortization (EBITDA) of around 15 percent and net debt- to- EBITDA ratio to be less than… Continue reading Apollo targets dollar 5 billion in revenue by FY26
Quantron posts strong growth in first-half CY2022
Quantron, a system provider of sustainable battery-electric and hydrogen-electric e-mobility for commercial vehicles such as trucks, buses and vans, has reported strong growth in the first half of CY2022. The company says, despite the current challenges in the supply chain sector, it was able to increase sales in January-June this year by more than 360 %… Continue reading Quantron posts strong growth in first-half CY2022