The entry of SoftBank-backed Ola into the electric scooter (e-scooter) segment is set to power up the overall market and perhaps fast-track the adoption of battery-operated vehicles. But for manufacturers of internal combustion engine (ICE)-powered two-wheelers, such as Bajaj Auto, Hero MotoCorp, and TVS Motor, it will be a double whammy. Not only will they have to contend with the aggressive pricing of Ola's scooter and incur a loss at each unit of the e-scooter sold, the volumes of their regular (ICE) models, too, could feel the squeeze, observed analysts. Ola is expected to price its e-scooter in the range of Rs 85,000-1.1 lakh.
Only 36 per cent in Japan and 44 per cent in Germany were willing to use such vehicles.
Parts of electric cars are costlier and repairing often means replacing an entire system, which drives insurance premium rates up.
Mahindra Reva Electric Vehicles, a part of the Mahindra Group, on Tuesday slashed the price of its electric car e2o by up to Rs 1.7 lakh by introducing a scheme under which a consumer pays a rental fee for the battery.
Leading carmakers Maruti Suzuki, Hyundai and Tata Motors reported robust dispatches to dealers in May on the back of strong demand for passenger vehicles across regions, even as the global semiconductor shortage continued to impact production. Mahindra & Mahindra, Kia India, Toyota Kirloskar Motor, Honda Cars and Skoda also witnessed strong demand for their models last month. The month of May also witnessed Tata Motors race ahead of Hyundai in terms of domestic wholesales.
Engineers based in India are estimated to be writing roughly 35 per cent of the 100 million lines of codes required to develop one fully driverless car for global vehicle makers.
Automobile dealers' body FADA said the Budget lacked immediate demand boosters for the automobile industry.
New participants included Chinese players such as Great Wall Motors and Haima Automobile along with Olectra.
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Amazon Web Services (AWS) on Friday announced setting up of its second data centre region in India in Telangana that will be operational by mid-2022, and will see the tech giant investing about Rs 20,761 crore. While AWS did not comment on the investment detail, Telangana IT and Industries Minister KT Rama Rao tweeted that AWS will invest Rs 20,761 crore ($2.77 billion) to set up multiple data centres in the state.
'I have personally been very keen on investing in lithium ion battery technology for some time.'
A variant of the e2o could be exported to the Middle Kingdom, Europe next year.
Mahindra Reva tops the Fast Company rankings of India's most innovative companies.
The global semiconductor shortage hit passenger vehicle sales in September, with major manufacturers like Maruti Suzuki, Hyundai and Mahindra & Mahindra reporting a decline in sales on Friday. Kia India and Honda Cars also reported a dip in wholesales last month as compared with the year-ago period. Carmakers like Tata Motors, Toyota Kirloskar Motor, Nissan and Skoda, however, reported an increase in passenger vehicle dispatches last month despite supply chain issues.
What will it take for Tesla to plug and play in India? Sector pundits say it's a mix of strategy, getting the price right, timing, the right talent, and above all, patience.
Consumer stocks remain the biggest laggard on the bourses. The Nify50 weighting of FMCG stocks declined to a decade low of 9.9 per cent at the end of March this year, down 150 basis points from 11.4 per cent a year ago. At their peak in March 2013, major FMCG stocks, such as Hindustan Unilever, ITC, and Asian Paints, together accounted for 15 per cent of the Nifty50. But now together with automobile stocks, the consumer goods sector accounts for only 14.7 per cent of the index, down 200 basis points in the past 12 months and 37 per cent from the record high weighting of 23.4 per cent at the end of March 2014.
While the value of the deal could not be ascertained, it is estimated that it could be around $100 million (Rs 450 crore approximately).
After GM's India exit, Ford-Mahindra 'strategic alliance' under spotlight.
10 stocks which are most popular with brokerages right now and are expected to deliver maximum upside over the next 12 months.
Initially it will procure only e-rickshaws and e-autos for leasing to operators
If the drop in sales over the past two years is anything to go by, India's dream of putting seven million electric vehicles on road by the end of this decade has come a cropper.
Buses that run on battery, trucks that purr on LNG, and more from the stables of Tata Motors, Mahindras and Ashok Leyland. The Auto Expo 2018 had these and more.
Market leaders saw good traction for new cars, including the electric ones.
'EV-charging is the next big opportunity after fuelling'
M&M will close down GenZe, an e-scooter business in California, because it is unlikely it would stand on its own feet, and is ahead of its time.
American car maker General Motors is likely to pull out of its technological partnership with REVA Electric Car Company, after domestic auto major Mahindra & Mahindra Ltd bought 55.2 per cent equity in the Bangalore-based company to stake its place in the fledgling electric vehicle market.
The number of participating automakers has fallen from 50 in 2018 to 30 this year. The count of exhibitors, including technology companies, has come down from 119 to 112. And showstopper luxury and supercar brands, including Toyota, Jeep, Lamborghini, Porsche, and Volvo will be missing. Similarly, the commercial vehicle makers also gave the show a miss -- a prolonged economic slowdown has dented their fortunes and near chances of any recovery.
It is keen on electric cars as battery costs go down
A single application and a plethora of services for passenger cars - that is what myTVS, a brand that operates under Ki Mobility Solutions and is part of the TVS family, is set to bring to customers, in a bid to disrupt the concept of "super apps" in India. Starting July 15, myTVS will launch its connected car platform or super app called myTVS Life360 for aftermarket passenger cars. Through it, customers will be able to avail themselves of a range of services like maintenance, diagnostics, roadside assistance, accessories, payments, insurance, and so on.
The Mahindra BAJA SAE India recently held its annual challenge for undergraduate engineers.
India's equity markets are on a roller-coaster ride, after delivering spectacular returns for two consecutive years - in 2020 and 2021. The benchmark National Stock Exchange's (NSE's) Nifty50 is down 1.5 per cent in the first nine months of the current calendar year 2022 (CY22) as foreign portfolio investors sold Indian stocks due to rising bond yields in the US and across global markets, including India. The sell-off in the Indian equity markets has, however, not been broad-based and largely limited to sectors facing earnings headwinds from rising interest rates, lower commodity and energy prices, and likely economic recession in advanced economies.
Mahindra & Mahindra on Monday unveiled an updated version of its sports utility vehicle XUV500
Auto component makers in India are bracing for a tough time. High absenteeism among workers owing to Covid-19, shortages of critical parts, and temporary closures of plants by automobile manufacturers have thrown a spanner in the works for the Rs 3.2-trillion sector, which derives 60 per cent of its revenues from automobile original equipment manufacturers (OEMs), with the balance split equally between replacement demand and exports. Car market leader Maruti Suzuki India on Saturday said it was extending the maintenance shutdown, which was from May 1 to 9, till May 16, "keeping in view the current pandemic situation". Some activities will continue in the plants.
Automobile companies are worried about challenges from electric mobility, automation and connected vehicles.
On Reva, Mahindra says electric cars are an innovation that can disrupt the automobile sector.
Yes Bank was the top loser in the Sensex pack cracking 6.51 per cent, followed by SBI, Axis Bank, Vedanta, Sun Pharma, ICICI Bank, IndusInd Bank, ITC, Infosys and Tech Mahindra, shedding up to 3.69 per cent.
Despite some manufacturers giving the Expo a miss, there will still be plenty of action.
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.
All of south Mumbai and parts of central Mumbai are without power on Tuesday after a unit of Tata Power tripped.
The Mahindra group announced on Friday the sale of the cable accessories division of its Pune-based Mahindra Engineering and Chemical Company Ltd to 3M Electro and Communication India Pvt Ltd.
