US Motoring Press – Page 1536 – I wish I had more to offer

Tata CFO Balaji Pushes for asset-light model in e-bus procurement

Tata Motors’ Group CFO, P.B. Balaji, urged a shift towards an asset-light model for electric bus procurement in India. Speaking during a post-result conference call with the media, he argued that Original Equipment Manufacturers (OEMs) should focus on efficient operation rather than owning the vehicles under government tenders. Balaji’s comments come in response to a… Continue reading Tata CFO Balaji Pushes for asset-light model in e-bus procurement

Tata Motors to invest USD 5.1 billion in 2024-25

After reporting the highest-ever profit and revenue in 2023-24, Tata Motors has lined up over USD 5.1 billion (Rs 43,000 crore) for investment in the current financial year to sustain its growth momentum. The investment will go for product and technology development in its British luxury car brand Jaguar Land Rover as well as in its passenger and… Continue reading Tata Motors to invest USD 5.1 billion in 2024-25

Tata Motors to invest USD 5.1 billion in 2024-25

Mercedes-AMG CLE 63 switches four-pot PHEV for 585bhp V8

The upcoming Mercedes-AMG CLE 63 will receive a twin-turbocharged 4.0-litre V8 petrol engine developing up to 585bhp, senior officials at the division’s Mercedes-Benz parent company have confirmed. The decision reverses an earlier plan to give the hot new coupé and cabriolet the same 670bhp plug-in hybrid drivetrain as the latest C63 and GLC 63, due… Continue reading Mercedes-AMG CLE 63 switches four-pot PHEV for 585bhp V8

‘Hybrid used more for “tax breaks” rather than for zero emissions’: PB Balaji of Tata Motors

Taking a dig at the push for hybrid vehicles, Tata Motors’ Group CFO, PB Balaji, cast doubt on the technology’s environmental benefits, suggesting it’s primarily driven by tax breaks rather than a commitment to clean mobility. “Hybrid is being used more as a tax break rather than actually getting into zero-carbon emissions,” Balaji said during a… Continue reading ‘Hybrid used more for “tax breaks” rather than for zero emissions’: PB Balaji of Tata Motors

Tata Motors’ Q4 PAT jumps over three-fold; FY24 profit and sales at all-time high

Tata Motors’ net profit for the fourth quarter of 2023-24 jumped over three-fold on a year-on-year with robust performance in all divisions. The profit soared significantly on the back of a one-time benefit in the form of deferred tax write-back during the period. The automaker also posted the highest-ever revenue and profit numbers for the… Continue reading Tata Motors’ Q4 PAT jumps over three-fold; FY24 profit and sales at all-time high

Mahindra & Mahindra signs MoU with Ministry of Skill Development and Entrepreneurship for Drone Didi Yojana

Mahindra & Mahindra Ltd signed a Memorandum Of Understanding (MoU) with the Ministry of Skill Development and Entrepreneurship (MSDE) to conduct two Pilots under the Drone Didi Yojna. Launched earlier this year, the scheme aims to train 15,000 women to operate drones for agricultural purposes such as fertiliser sowing, crop monitoring and seed sowing, thereby… Continue reading Mahindra & Mahindra signs MoU with Ministry of Skill Development and Entrepreneurship for Drone Didi Yojana

Bajaj Auto’s green machines to fuel Flipkart’s sustainable deliveries

Bajaj Auto and Flipkart have signed a Memorandum of Understanding (MoU) for the adoption of electric vehicles in the latter’s last-mile delivery operations. Samardeep Subandh, a spokesperson from Bajaj Auto Ltd., stated, “As a part of this partnership, Bajaj Auto will provide 1000+ electric cargo vehicles over two years. The Bajaj Cargo ETEC products will provide… Continue reading Bajaj Auto’s green machines to fuel Flipkart’s sustainable deliveries

Tata Motors’ India operations turn debt-free after record year

Delivering its highest ever revenues, profits, and free cash flows during FY24, Mumbai-based Tata Motors’ India operations have turned debt free, even as it hopes to become automotive net free on a consolidated basis in the current fiscal year. PB Balaji, Group Chief Financial Officer, Tata Motors, said in a statement: “It is pleasing to… Continue reading Tata Motors’ India operations turn debt-free after record year

Sonalika Tractors clocks 11,656 unit sales in April, buoyed by market share gains and monsoon hopes

Sonalika Tractors reported a record 11,656 tractor sales in April 2024, marking a strong start to the new fiscal year and continuing its year-over-year market share gains, according to a company statement released on Friday. The leading tractor manufacturer expressed optimism for the upcoming year, citing a weakening El Nino effect and predictions of above-normal… Continue reading Sonalika Tractors clocks 11,656 unit sales in April, buoyed by market share gains and monsoon hopes