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Category: US Motoring Press
Geely’s Lotus going public via SPAC at $5.4 billion valuation
Lotus Technology, the electric-car maker owned by China’s Zhejiang Geely Holding Group Co., agreed to merge with a blank-check company in a transaction that values the combined entity at about $5.4 billion. L Catterton Asia Acquisition Corp. will combine with the EV making subsidiary of the British carmaking group that Geely acquired back in 2017,… Continue reading Geely’s Lotus going public via SPAC at $5.4 billion valuation
Capex on infrastructure increased by 33 percent to Rs 10 lakh crore for FY23-24 in Budget 2023
Capex on infrastructure increased by 33 percent to Rs 10 lakh crore for FY23-24 in Budget 2023 The Union Budget 2023 has allocated Rs 10 lakh crore for capital investments and Rs 79,000 crore for affordable housing. This increase of 33 percent bodes well for commercial vehicle demand, especially for heavier multi-axle vehicles and tippers, industry… Continue reading Capex on infrastructure increased by 33 percent to Rs 10 lakh crore for FY23-24 in Budget 2023
E-mobility sector largely cheerful with government’s focus on green growth in Budget 2023-24
E-mobility sector largely cheerful with government’s focus on green growth in Budget 2023-24 Finance Minister Nirmala Sitharaman’s Budget has brought optimism and relief to the Indian automobile industry’s green players. The Budget has funded numerous programmes for green energy, green farming, green transportation, green equipment and energy efficiency policies across multiple economic sectors. Reduction in… Continue reading E-mobility sector largely cheerful with government’s focus on green growth in Budget 2023-24
E-mobility sector largely cheerful with government’s focus on green growth in Budget 2023-24
E-mobility sector largely cheerful with government’s focus on green growth in Budget 2023-24 Finance Minister Nirmala Sitharaman’s Budget has brought optimism and relief to the Indian automobile industry’s green players. The Budget has funded numerous programmes for green energy, green farming, green transportation, green equipment and energy efficiency policies across multiple economic sectors. Reduction in… Continue reading E-mobility sector largely cheerful with government’s focus on green growth in Budget 2023-24
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New electric cars 2023: what’s coming when
The Maserati Grecale SUV will join the Gran Turismo with its own electric variant which will stand alongside its internal combustion engined equivalent. There’s no confirmed intel on its performance figures yet, but Maserati has promised up to 590lb ft, and it will likely rival the Audi E-Tron S, which hits 0-62mph in 4.5sec and… Continue reading New electric cars 2023: what’s coming when
Hyundai Motor India surpasses 50,000 sales for the second time this fiscal in January
Hyundai Motor India surpasses 50,000 sales for the second time this fiscal in January Hyundai Motor India has reported domestic market sales of 50,106 units in January 2023, which constitutes 14% year-on-year growth (January 2022: 44,022 units). This is the second instance of the company surpassing the 50,000-unit sales mark in the ongoing fiscal year,… Continue reading Hyundai Motor India surpasses 50,000 sales for the second time this fiscal in January
Tata Motors achieves best-ever monthly sales in January: 47,987 units
Tata Motors, which achieved its highest-ever sales for a calendar year in 2022 with 526,798 units and 50% year-on-year growth, is continuing its accelerated run in 2023. The carmaker has announced sales of 47,987 units in January 2023, up 18% (January 2022: 40,777 units) including an estimated 3,831 EVs. This is its best-ever monthly market… Continue reading Tata Motors achieves best-ever monthly sales in January: 47,987 units
Kia India records best-ever monthly sales of 28,634 units in January
Kia India, which notched its best-ever annual sales of 254,556 units and 40% year-on-year growth in CY2022, is continuing its strong performance in CY2023. The Korean carmaker has recorded its highest-ever domestic monthly sales of 28,634 units in January 2023, which is a 48% YoY increase over January 2022 numbers. The company’s previous monthly best was… Continue reading Kia India records best-ever monthly sales of 28,634 units in January