Maruti Suzuki India (MSIL) plans to open new Arena Satellite showrooms as the country's largest carmaker aims to tap small towns and new markets, said a senior company executive, amid signs of recovery in rural demand and an approaching festival season. Senior executive officer for marketing and sales MSIL, Partho Banerjee, told Business Standard the company was aiming to penetrate deeper into markets and reach closer to its customers. "We have already had a concept of mobile showrooms in the Arena channel.
The country's legacy two-wheeler giants - Bajaj Auto and TVS - are fighting a neck-and-neck battle for market share, with the former threatening to dislodging its rival soon. The Pune-based giant, which was trailing far behind TVS just two months ago in e-two-wheelers (e2Ws), has upped the ante. It has increased its market share based on Vahan registrations from 11.6 per cent in June (when it sold only 9,046 electric two wheelers) to 19.3 per cent (when it sold 14,977 this month till August 30).
Passenger traffic to Lakshadweep more than doubled from April to June this year.
WHO has urged people at risk to keep up with their vaccinations with boosters.
Bajaj Auto is gearing up to launch clean-energy vehicles including another motorcycle powered by compressed natural gas (CNG), showcase ethanol-powered motorcycles and three-wheelers next month, as well as launch a new Chetak platform early next year, as it closes in on hitting 100,000 monthly sales from clean-energy vehicles this festival season. In an interview with CNBC-TV18, Bajaj Auto managing director Rajiv Bajaj said these initiatives were part of the firm's broader goal to achieve monthly sales of 100,000 clean-energy vehicles this festival season.
The new visa-free regime allows travellers to stay for up to 60 days instead of only 15 earlier.
'We have got enough internal accruals, and we are able to do acquisitions on our own.'
Just over a three-hour flight from Delhi, Kazakhstan, Uzbekistan, Azerbaijan and Georgia have seen a big jump in visitors.
India's venture capital (VC) landscape saw a strategic shift during the first half (H1) of the calendar year (CY) 2024, with a notable increase in larger-sized investments. This was evident from a 45.3 per cent rise in disclosed funding value year-on-year, despite a 2.1 per cent drop in deal volume, according to GlobalData, a data analytics and consulting company.
'It is not just the US and European opportunity, but it is a huge global opportunity.'
The BSA Gold Star is launched....Ola Enters e-motorbikes Biz... Bajaj, TVS To Enter e2Ws Market...
Goods and services tax (GST) collections from mobile device companies, amounting to Rs 1.82 trillion between 2020-21 (FY21) and 2023-24 (FY24), have already generated more than five times the revenue for the government compared to the Rs 34,149 crore allocated under the production-linked incentive (PLI) scheme for mobile devices over six years ending 2025-26 (FY26). Currently, the GST on mobile devices stands at 18 per cent.
Bengaluru-headquartered electric two-wheeler manufacturer Ather Energy is all set to file its draft red herring prospectus within the second week of September to the Securities Exchange Board of India (Sebi) for its maiden initial public offering (IPO), in which it is expected to raise over $450 million. On Tuesday, the fourth-largest electric two-wheeler maker in the country by volume raised Rs 600 crore from its existing investor, the National Investment and Infrastructure Fund (NIIF), catapulting itself into a unicorn with a valuation of $1.3 billion.
'Primary buyers are commercial taxi and fleet operators and small businessmen.' 'CNG prices have been remarkably stable unlike petrol.'
From setting up cutting-edge facilities to cater to the domestic market and building capabilities of global standards, the action is building up.
'Mankind's experience, sharpness, and execution will make it happen. We are not going for short-term gains.'
Tata Motors, India's largest commercial vehicle manufacturer, is looking to launch a first-of-its-kind sub-600 kg small commercial vehicle, aiming to cater to the growing demand for efficient last-mile delivery solutions, an area currently witnessing a surge in interest from e-commerce giants. This new entrant is set to be positioned just below the marquee Tata Ace, which is popular across the country as "Chota Haathi".
Qualcomm launched its new affordable, India-designed chipset, the Snapdragon 4s Gen 2, on Tuesday. This chipset will enable mobile device makers to sell 5G smartphones operating on a standalone (SA) network for Rs 8,300 or less.
'We will have multiple engine options -- electric vehicle and internal combustion engine in diesel and petrol.'
The Softbank-backed company has set a price band of Rs 72 to Rs 76 per share for the maiden share sale and is expected to test the appetite for new-age loss-making companies.
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