Toyota Kirloskar Auto Parts Pvt Ltd (TKAP), a part of Toyota Group of companies, today announced that it has received the Domestic Value Addition (DVA) Certificate for xEV Transaxle (e-Drive) under the Production Linked Incentive (PLI) Scheme for Advanced Automotive Technology (AAT) products. This development renders TKAP eligible to avail incentives under the Scheme. TKAP’s… Continue reading Toyota Kirloskar Auto Parts qualifies for incentive under PLI scheme
Category: US Motoring Press
Dr Anish Shah: ‘By 2031, Indian GDP will add as much to the global GDP as the entire EU’
The ‘Ideas of India’ Summit 3.0 opened today in Mumbai with Dr Anish Shah, Group CEO and MD, Mahindra Group & President of FICCI, sharing his perspective on ‘Viksit Bharat: The Road to 2047’. Representing India’s business world, Dr Shah shared his perspective on the pivotal role industries and enterprises will have to play for accelerating national… Continue reading Dr Anish Shah: ‘By 2031, Indian GDP will add as much to the global GDP as the entire EU’
Sona Comstar first component supplier to receive auto PLI certification
Sona BLW Precision Forgings (Sona Comstar) has become the first automotive component manufacturer to receive certification under the Auto Production Linked Incentive (PLI) scheme. The company has filed seven applications for different products under the PLI scheme, and it has received the certification for its first product – a hub wheel drive motor for electric… Continue reading Sona Comstar first component supplier to receive auto PLI certification
Sona Comstar first component supplier to receive auto PLI certification
Sona BLW Precision Forgings (Sona Comstar) has become the first automotive component manufacturer to receive certification under the Auto Production Linked Incentive (PLI) scheme. The company has filed seven applications for different products under the PLI scheme, and it has received the certification for its first product – a hub wheel drive motor for electric… Continue reading Sona Comstar first component supplier to receive auto PLI certification
Yulu raises Rs 160 crore in fresh funding from Magna and Bajaj Auto
Yulu, India’s largest shared electric two-wheeler mobility company, has announced equity infusion of $19.25 million (about Rs 160 crore) in its business. The funds have been raised through further issuance of shares to Yulu’s existing strategic investors Magna and Bajaj Auto Ltd. Over the last year, Yulu has seen a nearly five-fold leap in revenue. The… Continue reading Yulu raises Rs 160 crore in fresh funding from Magna and Bajaj Auto
Yulu raises Rs 160 crore in fresh funding from Magna and Bajaj Auto
Yulu, India’s largest shared electric two-wheeler mobility company, has announced equity infusion of $19.25 million (about Rs 160 crore) in its business. The funds have been raised through further issuance of shares to Yulu’s existing strategic investors Magna and Bajaj Auto Ltd. Over the last year, Yulu has seen a nearly five-fold leap in revenue. The… Continue reading Yulu raises Rs 160 crore in fresh funding from Magna and Bajaj Auto
VinFast targets sales of 100,000 EVs in 2024, looks to build scale in Asian markets
Vietnamese electric vehicle manufacturer announced its fourth-quarter and full calendar-year 2023 results yesterday. The EV OEM sold a total of 34,855 electric vehicles (cars and e-bus) in 2023, marking a 374% increase compared to the previous year. This included 13,513 electric vehicles in the fourth quarter, up 35% from the third quarter of 2023. Despite a slight decrease… Continue reading VinFast targets sales of 100,000 EVs in 2024, looks to build scale in Asian markets
VinFast targets sales of 100,000 EVs in 2024, looks to build scale in Asian markets
Vietnamese electric vehicle manufacturer announced its fourth-quarter and full calendar-year 2023 results yesterday. The EV OEM sold a total of 34,855 electric vehicles (cars and e-bus) in 2023, marking a 374% increase compared to the previous year. This included 13,513 electric vehicles in the fourth quarter, up 35% from the third quarter of 2023. Despite a slight decrease… Continue reading VinFast targets sales of 100,000 EVs in 2024, looks to build scale in Asian markets
VinFast to break ground on Tamil Nadu EV plant on February 25
VinFast Auto has, in an official communication, announced that it will break ground at its integrated electric vehicle (EV) manufacturing site in Thoothukudi City, Tamil Nadu on February 25, 2024. On January 6, 2024, VinFast and the government of Tamil Nadu signed a Memorandum of Understanding (MoU). The collaboration aims toward an intended commitment of… Continue reading VinFast to break ground on Tamil Nadu EV plant on February 25
VinFast to break ground on Tamil Nadu EV plant on February 25
VinFast Auto has, in an official communication, announced that it will break ground at its integrated electric vehicle (EV) manufacturing site in Thoothukudi City, Tamil Nadu on February 25, 2024. On January 6, 2024, VinFast and the government of Tamil Nadu signed a Memorandum of Understanding (MoU). The collaboration aims toward an intended commitment of… Continue reading VinFast to break ground on Tamil Nadu EV plant on February 25