The long-expected Formula 1 partnership between Red Bull and Porsche looks set to be confirmed. Stories have emerged this week that the car maker will buy a 50% stake in Red Bull Technologies, the arm of the Austrian-owned, UK-based business that includes a new F1 engine factory that will be fully operational by the end of the year. Finally, Porsche’s… Continue reading Opinion: What Porsche’s return to F1 with Red Bull will mean
Category: US Motoring Press
Rolls-Royce Spectre EV enters vital testing phase in France
The Rolls-Royce Spectre has entered a pivotal phase of its testing programme in the French Riviera ahead of the electric coupé’s launch towards the end of 2023. Following months of tests in testing in extreme conditions just 55km (34 miles) south of the Arctic Circle, the Spectre will now be driven for a total of 625,000km (388,357… Continue reading Rolls-Royce Spectre EV enters vital testing phase in France
Vettel to retire from F1 after 15-year career
Sebastian Vettel will retire from Formula 1 at the end of the 2022 season, with the four-time world champion calling time on his 15-year F1 career. The German driver, who currently races for Aston Martin, cited his family as one of the central reasons behind his decision as well as the stresses and strains of… Continue reading Vettel to retire from F1 after 15-year career
Ramkrishna Forgings bags four contracts
Ramkrishna Forgings has won four new contracts worth Rs 388 crore from companies in Europe and North America during Q1FY23. Importantly, one of the new orders involves differential housing cases, thereby enabling the component major to move up the value chain and diversify its product portfolio, the company’s top leadership noted. Lalit Khetan, whole time director & CFO… Continue reading Ramkrishna Forgings bags four contracts
Ola signs PLI pact with Heavy Industries Ministry for local battery cell manufacturing
Ola Electric has today signed the agreement under the Production Linked Incentive (PLI) scheme by the government of India to manufacture advanced cells in India. Ola Electric is the only Indian EV company selected by the government under its ambitious Rs 80,000 crore cell PLI scheme, receiving the maximum capacity of 20 GWh for its… Continue reading Ola signs PLI pact with Heavy Industries Ministry for local battery cell manufacturing
Visteon records robust Q2, $3.1 billion in new business in H1
Automotive electronics major Visteon has reported net sales of $848 million, representing a year-over-year increase of 42%, driven by new product launches and positive pricing due to incremental costs recoveries related to semiconductor shortages. Total industry production was flat while vehicle production at Visteon’s top customers increased 6% in the same period. The company’s sales… Continue reading Visteon records robust Q2, $3.1 billion in new business in H1
TVS Motor records highest-ever revenue, profit, 2W exports in Q1 FY2023
TVS Motor Company is on a roll. The Chennai-based two- and three-wheeler manufacturer has reported operating revenue of Rs 6,009 crore for the April-June 2022 quarter, which constitutes 53% year-on-year growth (Q1 FY2022: Rs 3,934 crore). EBITDA of Rs 599 crore in Q1 FY2023 is a 118% increase (Q1 FY2022: Rs 274 crore), while profit… Continue reading TVS Motor records highest-ever revenue, profit, 2W exports in Q1 FY2023
Omega Seiki, Log9 target India’s e-commerce market with 95km range e-three-wheeler
EV manufacturer Omega Seiki Mobility and the Bengaluru-headquartered advanced battery-tech and deep-tech start-up Log9 Materials today unveiled a jointly-developed, upgraded, longer-range version of Rage+ electric three-wheeler named ‘Rage+ RapidEV Pro’, which comes equipped with Log9’s 7.7 KWh battery, the RapidX 8000. The Rage+ RapidEV Pro, powered by a new 7.7kWH Log9 battery, is available in… Continue reading Omega Seiki, Log9 target India’s e-commerce market with 95km range e-three-wheeler
Volkswagen’s global sales down 23% in H1 amid chip woes
Volkswagen Passenger Cars has reported strong financial numbers for the January to June 2022 period. Effective sale management, improved cost efficiency and consistent implementation of the ACCELERATE strategy have led to a strong financial result. Operating result before special items rose to 1.9 billion euros (H1 2021: 1.2 billion euros). The operating return on sales… Continue reading Volkswagen’s global sales down 23% in H1 amid chip woes
Tata Motors ties up with Axis Bank to finance EV dealers
Shailesh Chandra (L) and Sumit Bali(R) at the signing of the MoU. Tata Motors has teamed up with Axis Bank to provide an exclusive electric vehicle dealer financing solution to its authorized passenger EV dealers. As part of this scheme, dealers can obtain inventory financing above and beyond their ICE finance limit at attractive rates based on… Continue reading Tata Motors ties up with Axis Bank to finance EV dealers