German company Lilium produces flying electric passenger drones. Lilium German aerospace startup Lilium faces insolvency if it doesn’t raise emergency funding from the state government for the southeastern state of Bavaria. Insolvency would mark a dramatic fall for a startup once touted as Europe’s best chance at building the 21st-century equivalent of “cars” that can… Continue reading Lilium was once a promising ‘air taxi’ startup worth billions. Now it’s on the brink of insolvency
Category: US Motoring Press
Schaeffler India reports 12.1% growth in revenue in Q3 2024
Schaeffler India Ltd, reported revenue of Rs. 20,728 million, a 12.1% increase from to Q3 2023. Net profit for the quarter was Rs. 2,471 million with an 11.9% margin. Profit before tax reached Rs. 3,332 million in Q3 2024, marking a 5.5% increase from the same quarter last year. The PBT margin stood at 16.1%,… Continue reading Schaeffler India reports 12.1% growth in revenue in Q3 2024
Two-wheeler industry to grow 7-8% YoY in Q3, says TVS’ KN Radhakrishnan
India’s two-wheeler industry is likely to grow 7-8% during the third quarter of the financial year 2024 on the back of robust demand expected during the peak festival season and support from good monsoon and reservoir level, according to TVS Motor Company Director and CEO KN Radhakrishnan. The growth rate expectation shows a further moderation sequentially… Continue reading Two-wheeler industry to grow 7-8% YoY in Q3, says TVS’ KN Radhakrishnan
Morgan Plus Six bows out with £97k special edition
Morgan will end production of its Plus Six, the higher-powered, six-cylinder version of its two-tier ‘Plus’ range, early next year and replace it with a new flagship that ushers in a fresh design language for the British brand. The Plus Six’s departure will be marked by the Plus Six Pinnacle, which will be limited to… Continue reading Morgan Plus Six bows out with £97k special edition
Volvo considering EX30 sales ramp-up outside of EU as tariffs hit
Incoming European Union import tariff rises mean Volvo is considering shifting supply of its Chinese-built EX30 to non-EU markets, such as the UK, while it readies its Belgium factory to take over local market production early next year. The crossover is currently the third best-selling electric car in Europe behind the Tesla Model 3 and Tesla Model… Continue reading Volvo considering EX30 sales ramp-up outside of EU as tariffs hit
KPIT Technologies Q2FY25 profit surges 44.7% on strong software demand
KPIT Technologies reported a 44.7% year-on-year increase in profit after tax to ₹2,037 million for the second quarter ended September 30, 2024, marking its 17th consecutive quarter of growth. The automotive software integration company’s revenue grew 20.1% in constant currency terms to $173 million, driven by middleware and powertrain domains. The company maintains 18-22% constant… Continue reading KPIT Technologies Q2FY25 profit surges 44.7% on strong software demand
Goodyear India Q2 profit falls 59% amid volume drop, increase in inputs costs
Tire manufacturer Goodyear India reported a profit before tax of Rs 21 crore for the second quarter ended September 30, 2024, down from Rs 51 crore in the same period last year. Revenue declined 1% to Rs 687 crore from Rs 695 crore in Q2 FY24. The company’s half-year profit before tax fell 47% to… Continue reading Goodyear India Q2 profit falls 59% amid volume drop, increase in inputs costs
Rane Engine Valve reports nearly 4-fold jump in Q2FY25 profit
Rane Engine Valve Ltd, a major manufacturer of engine valves, guides and tappets, reported a 287.7% surge in net profit to ₹5.7 crore for the quarter ended September 30, 2024, compared to ₹1.5 crore in the same period last year. The company’s revenue rose 2.7% to ₹147.6 crore from ₹143.7 crore in Q2 FY24. The… Continue reading Rane Engine Valve reports nearly 4-fold jump in Q2FY25 profit
India hosts 7th G-STIC conference, spotlights biofuels and green hydrogen
The 7th Global Sustainable Technology & Innovation Community Conference (G-STIC) opened in New Delhi on October 23, bringing together policymakers and experts to discuss sustainable development technologies, with a particular focus on energy transition strategies. India’s Petroleum and Natural Gas Minister Hardeep Singh Puri highlighted the country’s progress in biofuel adoption during his inaugural address.… Continue reading India hosts 7th G-STIC conference, spotlights biofuels and green hydrogen
‘Expect the 2W growth momentum to continue in the festive season’: HMSI’s Yogesh Mathur
Japanese two-wheeler giant’s Indian arm Honda Motorcycle & Scooter India (HMSI), is bullish about the festive season to continue the growth momentum in the two-wheeler segment that has been registering strong recovery in CY2024. After peaking in FY2018-19, the two-wheeler category was badly hit in Covid due to buyer affordability challenges, and despite sales recovery, still continue… Continue reading ‘Expect the 2W growth momentum to continue in the festive season’: HMSI’s Yogesh Mathur