TVS Motor Co’s board today approved the company’s plan to issue cumulative non-convertible redeemable preference shares (NCRPS) worth around Rs 1,900 crore as a bonus to its shareholders. Non-convertible redeemable preference share means a preference share that is redeemable but is not convertible into or exchangeable with equity shares of the issuer at a later… Continue reading TVS Motor Co to issue preferential bonus shares worth Rs 1,900 crore
Category: US Motoring Press
JSW Group to produce locally manufactured battery cells in Orissa within 18-24 months
In order to make its new energy vehicles more competitive, JSW Group will be ready with its localised lithium-ion cells from its Orissa factory within 18-24 months. The Group is currently in talks with multiple potential partners and the cement to steel major is keen only on a technology tie-up and not an equity partnership.… Continue reading JSW Group to produce locally manufactured battery cells in Orissa within 18-24 months
Indians now hold majority share in JSW MG Motor India, JV to invest Rs 5000 crore in first phase
Indians hold a majority stake in the newly formed JSW M G Motor India – a joint venture between JSW Group and China’s largest car maker Shanghai Automotive Industry Corporation’s British Brand MG Motor India. The Chairman of the joint entity will be from the JSW Group. Announcing the operationalisation of the joint venture –… Continue reading Indians now hold majority share in JSW MG Motor India, JV to invest Rs 5000 crore in first phase
Transport Minister Gadkari proposes cutting GST on hybrid cars to 12%: Report
Minister of Road Transport and Highways Nitin Gadkari has urged the finance minister to reduce the goods and service tax on hybrid vehicles to 12 percent, as per media reports. Recently there have been reports that the government is considering a lower tax structure on hybrid vehicles – powered by a petrol engine and an… Continue reading Transport Minister Gadkari proposes cutting GST on hybrid cars to 12%: Report
Himadri Specialty Chemicals acquires stake in lithium-ion battery material startup Invati
Himadri Speciality Chemical Limited (Himadri), a Kolkata-based specialty chemicals company, announced Wednesday that it has acquired a 40% stake in Invati Creations Private Limited (Invati) for Rs. 45.16 crore. The deal involves a two-pronged approach. Himadri will infuse Rs 19.99 crore in Invati as growth capital, while the remaining Rs 25.17 crore will be settled through… Continue reading Himadri Specialty Chemicals acquires stake in lithium-ion battery material startup Invati
Ultraviolette forays into Turkey, marking European entry
EV player Ultraviolette Automotive and Kibar Holding, a leading conglomerate in Turkey jointly showcased the F77 performance electric motorcycle at the Motobike Istanbul 2024 exhibition at the K-Rides pavilion from March 20-23, 2024. Kibar Holding has ventured into the two-wheeler vehicle sector with the establishment of its new company, K- Rides, towards the end of… Continue reading Ultraviolette forays into Turkey, marking European entry
TVS Motor Co inducts Vijay Sankar and Shailesh Haribhakti as independent directors
The Chennai-based TVS Motor Company today announced changes to its Board with the appointment of two new independent directors, subject to approval of the shareholders. The two new members, who will join the Board as independent directors, are Vijay Sankar, chairman of the Chennai-based Sanmar Group, and Shailesh Haribhakti, chairman of Shailesh Haribhakti & Associates.… Continue reading TVS Motor Co inducts Vijay Sankar and Shailesh Haribhakti as independent directors
Renault: Europe must counter premium shift, make cars affordable
Renault’s boss has decried automotive regulations in Europe as “objectively favouring premium models” and called on authorities to help redress the balance by promoting the development of affordable cars again. “Cars are required to be more sophisticated, more fuel-efficient and less costly all at the same time,” a clearly exasperated Luca de Meo wrote in a… Continue reading Renault: Europe must counter premium shift, make cars affordable
Electric Isuzu D-Max brings 174bhp and one-tonne payload
Isuzu has unveiled the D-Max EV concept, providing a strong hint at how the pick-up will make the switch to electric power. Unlike the similarly conceived Maxus T90 EV, the D-Max offers full-time four-wheel drive thanks to a dual-motor powertrain set-up that puts out a combined 174bhp and 240lb ft. That’s slightly more power and torque… Continue reading Electric Isuzu D-Max brings 174bhp and one-tonne payload
‘Wonderful and unique’ new entry-level Audi EV due in 2027
Audi is accelerating work on a new entry-level EV that will serve as an electric equivalent to the A3 and Q3 – with boss Gernot Döllner claiming it will be a “wonderful, unique, independent concept”. The compact model is tipped to arrive in 2027, with Döllner saying it will be the product of an accelerated development time of around three… Continue reading ‘Wonderful and unique’ new entry-level Audi EV due in 2027