Hyundai Motor India, which is selling up to 17.5% stake through an IPO, will dilute an additional 7.5% stake in the next three to five years, according to the company’s investment banker. This is in line with the minimum public shareholding guidelines set by the Indian market regulator Securities and Exchange Board of India. As… Continue reading Hyundai India to dilute 7.5% additional stake in 3-5 years
Category: US Motoring Press
‘Nearly 80% three-wheelers likely to go electric by 2030’: Diego Graffi
Piaggio Vehicles (India), which is among the key players in the electric three-wheeler segment in India and ventured into this category in 2019 with its Ape E-City, is bullish about the growth potential of e-3Ws in the country. The company, which clocked 12,750 units of e-3Ws sales between January and July 2024 and was ranked… Continue reading ‘Nearly 80% three-wheelers likely to go electric by 2030’: Diego Graffi
TVS announces festive cashback offer worth ₹30,000 on iQube EV Scooter
TVS Motor Company has announced special festive season offers on its TVS iQube electric scooter, with cashback benefits of up to ₹30,000 available until October 31, 2024, across select states. The TVS iQube is priced at ₹90,681 (effective ex-showroom price in Maharashtra). For the TVS iQube S variant, customers in Tamil Nadu, Puducherry, Uttar Pradesh,… Continue reading TVS announces festive cashback offer worth ₹30,000 on iQube EV Scooter
Big Boy Toyz launches Cars.co.in, India’s first full-stack pre-owned luxury car marketplace
Big Boy Toyz (BBT), a prominent pre-owned exotic car company in India, has announced the launch of Cars.co.in (CCI), an online platform designed for buying and selling luxury cars. This platform provides consumers with an accessible way to explore a wide range of luxury cars from their homes. Cars.co.in is designed to maintain high standards… Continue reading Big Boy Toyz launches Cars.co.in, India’s first full-stack pre-owned luxury car marketplace
Nitin Gadkari unveils Humsafar Policy to offer essential facilities on national highways
The Union Minister of Road Transport & Highways Nitin Gadkari launched today the ‘Humsafar Policy’ in New Delhi to enhance convenience of travelling on National Highways and accelerate development of the Wayside Amenities. Gadkari said local marginal sections of the society will be benefitted from this initiative. He underscored that this scheme will help in… Continue reading Nitin Gadkari unveils Humsafar Policy to offer essential facilities on national highways
Renault reveals Duster-based Bigster before Paris Motor Show
Renault’s budget brand abroad, Dacia, has taken the wraps off the Bigtser before its showing at the upcoming Paris Motor Show (starting October 17). Said to be the biggest Dacia model yet, the SUV is based on the Renault Duster, and is expected to make its way to India, albeit in seven-seat form. Dacia Bigster:… Continue reading Renault reveals Duster-based Bigster before Paris Motor Show
Anant Badjatya appointed CEO of Indofast Swap Energy, a SUN Mobility-IOCL joint venture
SUN Mobility-IOCL announced the appointment of Anant Badjatya as CEO of their new joint venture, Indofast Swap Energy Pvt. Ltd. Previously the CEO of SUN Mobility, Badjatya assumes his new role immediately. This follows the agreement between IOCL and SUN Mobility in June 2024 to create one of India’s largest battery-swapping networks by 2030. With… Continue reading Anant Badjatya appointed CEO of Indofast Swap Energy, a SUN Mobility-IOCL joint venture
Mercedes India registers 21% growth in Q3 2024 sales
Mercedes-Benz India recorded a sale of 5,117 units in the third quarter of this year, registering a 21 percent year-on-year (YoY) growth. This is the highest Q3 sales that the company has achieved in the country in its history. Mercedes also recorded its best-ever year-to-date (YTD) sales of 14,379 units between January and September this… Continue reading Mercedes India registers 21% growth in Q3 2024 sales
Cars24 partners with Lawyered for streamlined traffic challan resolution
Lawyered, a platform offering on-road legal assistance, announced its partnership with Cars24. This collaboration aims to provide a seamless challan resolution experience for vehicles sold through Cars24. As part of the partnership, Cars24 will incorporate Lawyered’s LOTS (Lawyer On-The-Spot) system to address and resolve challan-related matters, streamlining the process for faster car sales. Challan clearance… Continue reading Cars24 partners with Lawyered for streamlined traffic challan resolution
Hyundai India IPO: Price band set at Rs 1,865 – 1,960, issue to open on Oct 15
India’s second largest car maker Hyundai Motor India Ltd on Wednesday fixed the price band of its initial public offering in the range of Rs 1,865 – 1,960. At this price, the company is set to raise Rs 27,870.16 crore ($3.42 billion) at the upper end, or Rs 26,519.31 crore at the lower end. The… Continue reading Hyundai India IPO: Price band set at Rs 1,865 – 1,960, issue to open on Oct 15