Amid rising challenges on the FAME-II subsidy and its resultant violations and penalty, multiple electric vehicle companies may be forced to file for bankruptcy. As the deadline for penalties looms, three out of the seven OEMs Hero Electric, Benling Motors and Ammo Mobility, have requested the Prime Minister’s Office (PMO) to press the Ministry of… Continue reading Several EV makers may be forced to file for bankruptcy post imposition of FAME II penalties
Category: US Motoring Press
Foxconn and ZF join forces for passenger car chassis systems business
ZF Friedrichshafen AG (ZF Group), one of the world’s largest automotive suppliers, and Hon Hai Technology Group (Foxconn), the world’s largest electronics manufacturer, today announced a 50-50 partnership in passenger car chassis systems, a key move aimed at accelerating and expanding automotive and supply chain opportunities with top-tier customers. Foxconn will acquire a 50-percent stake… Continue reading Foxconn and ZF join forces for passenger car chassis systems business
TVS Motor Q1 PAT up 49% at Rs 441 crore
TVS Motor, India’s second-largest two-wheeler manufacturer, reported a 48.7 percent jump in its consolidated net profit at Rs 441.47 crore for the first quarter ended June 30. The company posted a Rs 296.75 crore net profit for the same period a year ago. Meanwhile, the company’s revenue also grew by 24.41 percent in Q1 FY24… Continue reading TVS Motor Q1 PAT up 49% at Rs 441 crore
Valtech expands India operations, introduces Valtech Mobility
Valtech, a global business transformation agency, has announced the expansion of its operations in India by introducing Valtech Mobility, a leading provider of mobility and automotive solutions. Valtech’s Automotive Mobility Center of Excellence (CoE) in Pune, India will bring expertise in connected vehicles, shared mobility, electrification, and data monetisation to regional and global customers. It will… Continue reading Valtech expands India operations, introduces Valtech Mobility
Bajaj Finance Limited Auto Finance wheels in faster, easier lending journeys with Salesforce
Rahul has his heart set on buying the new Bajaj Pulsar bike. But first, he needs to apply for a bike loan. In the past, that used to be a long-drawn-out process, rife with paperwork. But now, thanks to lenders like Bajaj Finance Limited Auto Finance (BFL-AF), Rahul can get a loan offer in minutes.… Continue reading Bajaj Finance Limited Auto Finance wheels in faster, easier lending journeys with Salesforce
Posco to invest US $92 billion to expand into EV battery production and hydrogen: Report
Posco Holdings’ shares jumped as much as 24% on Monday, the most on record, on strong quarterly profits and frenzied retail buying of stocks related to electric-vehicle batteries, Bloomberg reported. The stock also appears to have got a shot in the arm by short sellers rushing to cover their bearish bets. At the same time,… Continue reading Posco to invest US $92 billion to expand into EV battery production and hydrogen: Report
Hero to launch Karizma XMR 210 in India on August 29
Just days after a design patent of the new Karizma XMR 210 surfaced, the company has now announced that the all-new bike will be launched in India on August 29. The launch of the new Karizma XMR will mark the return of the Karizma name after over three years. At its peak, the Hero Honda… Continue reading Hero to launch Karizma XMR 210 in India on August 29
Lexus to enter used car market; first EV to roll out in India by 2025: PTI
Luxury carmaker Lexus from next year is looking to foray into the used car business in India, having now completed six years in the market, according to a top company official. The Japanese carmaker, which currently sells its product range through 23 touch points, aims to transition some of the sales outlets to also cater… Continue reading Lexus to enter used car market; first EV to roll out in India by 2025: PTI
Tata Punch CNG production commences, launch soon
The Tata Punch CNG will soon go on sale soon as sources tell us that its series production has begun. The Punch will be Tata Motors’ fourth product to get a CNG variant after the Tiago, Tigor and Altroz, and like the Altroz CNG, the micro SUV will also get the carmaker’s unique dual-cylinder setup that doesn’t eat into boot space. Tata Punch CNG… Continue reading Tata Punch CNG production commences, launch soon
Tata Motors inaugurates state-of-the-art vehicle scrapping facility in Bhubaneswar
Tata Motors today inaugurated its second Registered Vehicle Scrapping Facility (RVSF) in Bhubaneswar, Odisha. Named ‘Re.Wi.Re – Recycle with Respect’, this advanced facility was inaugurated by Smt Tukuni Sahu, Minister of Water Resources, Commerce & Transport, Government of Odisha. The state-of-the-art facility uses environmentally friendly processes and has the capacity to disassemble 10,000 end-of-life vehicles safely and… Continue reading Tata Motors inaugurates state-of-the-art vehicle scrapping facility in Bhubaneswar