Most companies operate through a rural development sales consultant.
Increasing the duties on auto parts and putting an additional cess on petrol and diesel could drive up costs of vehicles, specially where volumes are low and localisation is not viable.
Ola Electric will roll out its complete offering of electric scooters and motorcycles in each segment of the market - premium, mass premium, and economical - in the next 12 months in a bid to push for a near-full conversion of the two-wheeler market to electric in three years. According to Bhavish Aggarwal, founder and CEO of Ola Electric, "ICE (internal combustion engine) products will fall off a cliff." He also says the company is aiming to become profitable next year.
Homegrown auto major Tata Motors on Tuesday said it will raise $1 billion (Rs 7,500 crore) in its passenger electric vehicle business from TPG Rise Climate at a valuation of up to $9.1 billion. Tata Motors Ltd (TML) and TPG Rise Climate, the dedicated climate investing strategy of private investment firm TPG, have entered into a binding agreement in this regard. Under the agreement, TPG Rise Climate along with its co-investor ADQ, will invest in a subsidiary of Tata Motors that will be newly incorporated, the company said in a statement.
Known for its phones and emerging from nowhere in the segment, it might take on the scooter Goliaths.
Experts say while the increasing demand for a ban on Chinese goods might make for good optics, the reality is that India is still heavily dependent on that country in a wide range of industries like electronics, mobile devices, auto, pharma, telecom equipment, and fertilisers.
The firm, which showcased an electric variant of its Duet scooter at the 2016 Auto Expo, is working on two models at its Jaipur R&D centre.
bp had last year bought 49 per cent stake in the 1,400-odd petrol pumps and 31 aviation turbine fuel stations owned by RIL for $1 billion.
Recently, world headlines buzzed with Elon Musk's announcement that he was shelving his audacious bid for social media platform Twitter. Away from the media spotlight, questions are being asked about the maverick billionaire's plans in India, too. A few days ago, a Reuters report said Musk's flagship Tesla had put on hold its plan to launch electric cars in India.
Indian plants -- who plan to begin production with 28 nano metre chips -- will take two to four years to get off the ground. By that time, in the fast changing world of chip making, the global market would have shifted to 22 nm.
Work is underway in identifying global companies in sectors ranging from electronics, auto components and medical equipment to shift part of their existing or incremental manufacturing to India.
New electric and hybrid vehicles on display as manufacturers plug into environment-friendly segment.
The promoter-brothers, distant cousins to IndiGo's Rahul Bhatia, are eyeing Air India's ground handling subsidiary to augment their aviation services business even as they make a big play in EVs.
Finance secretary Ajay Bhushan Pandey on Sunday hinted that the government was working on another stimulus package but he refrained from giving a timeframe.
E-mobility is only one among the several fronts on which Mahindra is waging a battle of aspirations, to future-proof the $19-billion tractor-to-technology conglomerate, says Nikhil Inamdar.
Prime Minister Narendra Modi on Friday said production linked incentive (PLI) scheme, which is aimed at boosting domestic manufacturing and exports, is expected to increase the country's production by $520 billion in the next five years. Addressing a webinar on PLI scheme, organised by Department of Industry and International Trade (DPIIT) and NITI Aayog, through video conference, Modi said the government is continuously carrying out reforms to boost domestic manufacturing. In this year's Budget, about Rs 2 lakh crore was earmarked for the PLI scheme for the next five years and "there is an expectation that the scheme would result in increasing the production by about $520 billion in the next five years", he said. He added that there is also an expectation that the current workforce in the sectors, which will avail the benefits of the PLI scheme, will be doubled and job creation will also increase.
India has a history of jugaad, and retrofitting vehicles is one such manifestation of the legendary Indian skill. Not so long ago autorickshaws and small Marutis used to strap on subsidised LPG cylinders and power themselves to a cheap ride. There were the odd explosions, lives were lost, but the jugaad continued. Then compressed natural gas (CNG) was introduced in Delhi following a court order. Initially, customised CNG kits were fitted to conventional (internal combustion engine or ICE) autos cheaply, enabling commuting at less than half of what you would cough up for diesel. The industry is better organised now with Suzuki and Hyundai designing CNG-fired vehicles, and Mahindra and TVS manufacturing liquefied petroleum gas (LPG)-powered three wheelers.
The electric vehicle will be a part of Michelin Challenge Design display at the event.
Japanese auto major Suzuki Motor Corporation (SMC) on Wednesday said its long-serving chairman Osamu Suzuki will retire and assume the role of senior advisor subject to shareholders' approval in the ordinary general meeting to be held in June this year.
The MG Motor India management is focused on scaling up and launching smaller cars to play the long game in the country, says Pavan Lall.
Auto major Fiat Chrysler Automobiles (FCA) on Wednesday said it will invest $150 million (around Rs 1,103 crore) to set up a global digital hub in Hyderabad to help the group develop new technologies to cater to its automotive operations across the globe. The facility, which is FCA's largest digital hub outside of North America, would create nearly 1,000 jobs by the end of next year.
The change in stance follows a strong opposition by automakers of the proposed government plan to ban two-wheelers (below 150cc) and three-wheelers by 2023 and 2025, respectively
RIL is also more profitable than Tata Motors.
Day 1 saw Microsoft make the highest number of offers while Intel emerged as one of the top recruiters on Day 2.
'In the short term, we may see some disruptions due to Covid, but in the medium-to-long term, we should keep an eye on US inflation and 10-year bond yields.'
Just stand in front of his latest film Kochadaiiyaan's hoarding, send an SMS, and watch what happens next.
Finance Minister Nirmala Sitharaman on Tuesday unveiled a Rs 39.45 lakh crore Budget with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. This was Sitharaman's fourth Budget. While the taxpayers were left in the lurch, once again, was she able to cheer Corporate India?
The Fortune's 40 under 40 list for this year was topped by Adam Neuman, Co-founder and CEO, WeWork.
Recently, Suzuki Motor Corp (SMC) in an investor presentation expressed strong intent to enter the electric vehicle (EV) space. This is part of a larger strategy the Hamamatsu-based firm has drawn up in developing electrification of technologies as it seeks to achieve carbon neutrality. The significance of this presentation is that it marked the first time that the Japanese carmaker spelt out its EV strategy with well-defined timelines. SMC plans to develop electrification technologies by 2025, fully implement them in products from the same year, and make a full-scale quantitative increase from 2030.
According to research by IHS Markit, for an ecosystem still grappling with infrastructure issues -- the high cost of EVs and a greater OEM (original equipment manufacturer) focus on electrifying two-wheelers and commercial vehicles first -- the share of such vehicles is expected to be 4 per cent by 2030, reports Pavan Lall.
Auto stocks led the rally with Tata Motors, Hero MotoCorp and Maruti Suzuki leading the gains.
All civilian drone operations will be restricted only during day time and flying will be restricted within visual line of sight which usually would be 450 metres, the regulation says.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Steel, cement, aluminum, fertilisers, tractors, two-wheelers, beverages and carbonated drinks, tyres and FMCG could see demand back to near normal levels by the third or the fourth quarter of the financial year, or even earlier.
And it is available at a competitive price!
"I am being targeted for a decade-old case, there is an attempt to suppress my voice. Rajasthan Police team came to arrest me. Someone told me plan was being made to kill me in an encounter," the VHP president claimed.
With the government asking the companies to operate with only 50 per cent staff strength, and exports dipping to almost zero, the truck and bus drivers idling at the petrol pump say they hardly have any work now. At a petrol pump on the deserted Bavla-Changodar highway near Ahmedabad in Gujarat, several trucks and buses are neatly parked in a row.
E-vehicles may face pollution hurdle with hazardous batteries. One lithium-ion battery has a potential to poison the whole water aquifer of Delhi.
The partnership will look to expand Ford's reach in the fast-growing Indian market and improve M&M's access to global markets
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