Hyundai Motor has picked JP Morgan and Citi for its nearly USD 3 billion India IPO, bolstering plans to take its India unit public in the world’s third-biggest auto market, Reuters reported citing persons in the know. The firm plans to file regulatory papers in India by May- June, two of the three sources informed… Continue reading Hyundai chooses JP Morgan, Citi to bolster USD 3 billion IPO: Report
Category: US Motoring Press
Govt hikes FAME 2 outlay by Rs 1,500 crore; Says scheme sops till March 31
The Ministry of Heavy Industries has enhanced the financial outlay for the second phase of the Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicle (FAME) scheme by Rs 1,500 crore to Rs 11,500 crore. The FAME 2 scheme was rolled out in 2019 with an outlay of Rs 10,000 crore for three years ending… Continue reading Govt hikes FAME 2 outlay by Rs 1,500 crore; Says scheme sops till March 31
To get the $7,500 electric vehicle tax credit, you may no longer have to wait until tax season
Halfpoint Images | Moment | Getty Images Consumers no longer have to wait to file their annual tax returns to get a tax break for the purchase of a new electric vehicle. At the start of 2024, the federal “new clean vehicle” tax credit became available as a point-of-sale discount — worth up to $7,500… Continue reading To get the $7,500 electric vehicle tax credit, you may no longer have to wait until tax season
BMW i16 is the radical i8 successor that never was
BMW designed a radical mid-engined hybrid supercar to succeed the i8 – but never put it into production. Kept secret for four years but now revealed by BMW head designer Domagoj Dukec on social media, the striking i16 could have been the M performance division’s second bespoke model after the 1978 M1 supercar. As it… Continue reading BMW i16 is the radical i8 successor that never was
DS to launch high-riding electric luxury saloon
DS is preparing to launch a brand new flagship electric car to begin a new era of it selling only plug-in hybrids and EVs. Spotted winter testing ahead of its launch in early 2025, the DS 9 replacement wears a high-riding fastback body, similar to fellow Stellantis brand Peugeot’s new e-3008 crossover. Its roofline is more rakish than that… Continue reading DS to launch high-riding electric luxury saloon
Govt hikes FAME 2 outlay by Rs 1,500 cr; Says scheme sops till March 31
The Ministry of Heavy Industries has enhanced the financial outlay for the second phase of the Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicle (FAME) scheme by Rs 1,500 crore to Rs 11,500 crore. The FAME 2 scheme was rolled out in 2019 with an outlay of Rs 10,000 crore for three years ending… Continue reading Govt hikes FAME 2 outlay by Rs 1,500 cr; Says scheme sops till March 31
Hero MotorCorp’s Q3 profit up 51% YoY on higher volumes, realisation
Hero MotoCorp Ltd today reported strong growth in its net profit for the December quarter on a year-on-year basis, aided by robust improvement in margins. Higher volume and the premiumisation trend on top of moderation in input cost inflation boosted the company’s profit margins. India’s largest two-wheeler maker posted standalone net profit growth of 51%… Continue reading Hero MotorCorp’s Q3 profit up 51% YoY on higher volumes, realisation
Hero MotoCorp to invest Rs 600 crore for new parts centre in Andhra Pradesh
In a bid to expand its parts, accessories and merchandise business, Hero MotoCorp will invest up to Rs 600 crore over two years to set up a Global Parts Centre in Tirupati, Andhra Pradesh. The company’s focus on the Parts Accessories and Merchandise (PAM) business has led to the business crossing annualised revenue of Rs 5,000… Continue reading Hero MotoCorp to invest Rs 600 crore for new parts centre in Andhra Pradesh
Hero MotoCorp to invest Rs 600 crore for new parts centre in Andhra Pradesh
In a bid to expand its parts, accessories and merchandise business, Hero MotoCorp will invest up to Rs 600 crore over two years to set up a Global Parts Centre in Tirupati, Andhra Pradesh. The company’s focus on the Parts Accessories and Merchandise (PAM) business has led to the business crossing annualised revenue of Rs 5,000… Continue reading Hero MotoCorp to invest Rs 600 crore for new parts centre in Andhra Pradesh
Steelbird Hi-Tech reports Rs 687 crore revenue in CY2023
Steelbird Hi-Tech, a leading player in helmet manufacturing, reported revenues of Rs 687 crore during the calendar year 2023. The company shared that it had produced 80 lakh helmets in CY2023 and remains hopeful of reaching 10 million units in CY2024. In addition to the helmet sales, Steelbird Helmet sold 3,44,865 side boxes, contributing to… Continue reading Steelbird Hi-Tech reports Rs 687 crore revenue in CY2023