Why is Shailesh Chandra, managing director of Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility, not worried about the competition?
Honda Motorcycle and Scooter India (HMSI), India's second-largest two-wheeler maker, on Wednesday revealed its electric vehicle (EV) roadmap, which includes setting up a dedicated EV factory, launching the first two EVs in 2023-24, and establishing 6,000 battery exchange points in the country. HMSI plans to establish a specialised unit for the manufacturing of electric vehicles (EVs), named 'Factory E', at its Narsapura plant located in Karnataka. Factory E will be created by converting an existing production line that currently manufactures internal combustion engine (ICE) vehicles, said Atsushi Ogata, HMSI managing director and chief executive officer.
Firodia talked about his plans for the EV-components business, and the components business at large for the group
The recent notification by the Insolvency and Bankruptcy Board of India (IBBI) allowing part-resolution of stressed assets of companies under the insolvency process has sent many resolution professionals (RPs) and committees of creditors (CoCs) back to the drawing board to reassess their strategies for resolving corporate insolvencies.
The Rs 1-trillion Research Development and Innovation (RDI) fund, which was announced in the July budget for FY25, of which Rs 20,000 crore has already been allocated, will be operationalised in the next two to three months, a top official said.
The new scheme may link the incentives to the battery power - higher the power, higher the incentive and most electric two-wheelers running on Indian roads use low power and fast charging batteries.
'We participate in the design/development of components and systems for electric vehicles, internal combustion engines, and hybrid vehicles.'
Auto manufacturers have focused on launching CNG variants of their popular models to meet consumer demand for vehicles with lower running costs.
Skoda Auto India, the Czech carmaker that has recently found success with its compact SUV Kylaq, says it remains committed to developing a fully localised electric vehicle (EV). The EV will be manufactured at its Chakan facility for both Indian market and exports.
'I'm very much against petrol and diesel....'' 'I travel in an electric car.' 'I have had a really good experience with it.'
Electric mobility in India is touted to be the way to the future, but implementation of large-scale projects to bring infrastructure for charging is still lacking.
The Ministry of Heavy Industries has approved 11 electric vehicle (EV) manufacturers, including Ather Energy, Bajaj Auto, Hero MotoCorp, Ola Electric, and Mahindra, to receive incentives under the recently introduced Electric Mobility Promotion Scheme (EMPS) 2024. "A total of 11 firms have been granted approval under the EMPS, with several more under consideration," informed a senior official of the ministry to Business Standard. The scheme aims to sustain the growth in EV sales, replacing the Faster Adoption and Manufacturing of Electric Vehicles - II (FAME-II) scheme.
India's trade deficit with China neared $100 billion in FY25, amid escalating concerns of dumping, data released by the commerce department on Wednesday showed. Chinese imports rose by 11.5 per cent to $113.45 billion, while outbound shipments to the neighbouring country saw 14.5 per cent contraction to $14.2 billion.
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.
Even as India goes green, lack of uniform standards for setting up charging stations is holding back companies. Alnoor Peermohamed reports.
Large manufacturers are investing in small companies to get a peek into their R&D. Alnoor Peermohamed and Anita Babu report.
India and the UK on Thursday inked a landmark free trade agreement (FTA) that will cut tariffs on British whisky, cars and an array of items, besides boosting bilateral trade by around $34 billion annually.
Sales of electric vehicles (EVs) in July touched 178,948 units, marking the highest monthly sales this financial year. This represents a 27.9 per cent increase from June, which saw 139,905 units sold, according to the Vahan data from the Ministry of Road Transport and Highways. The strong performance in July contributed to more than one million being sold in the first seven months of the calendar year.
Ola Electric, India's largest maker of electric scooters, launched its most affordable ride on Tuesday, in an attempt to woo more customers and expand its electric two-wheeler lineup.
Even as India overtakes Japan in automotive sales in 2022, moving to third place for the first time, oddly enough the country's biggest motor show is going to see some big hitters give it a clear miss. Some prominent automotive brands have cited high event costs, negligible returns on investment, poor event management, and unfavourable location as reasons for their reluctance to participate. Major pure-play electric two-wheelers, too, are riding past this year's edition of the Auto Expo.
Brazilian authorities have rescued 163 workers from conditions similar to 'slavery' at a construction site for a factory of Chinese electric vehicle company Build Your Dreams (BYD) in Camacari, Bahia.
India will never provide company or enterprise-specific incentives in the electric vehicle sector, a top government official said on Friday, amid a push from American electric carmaker Tesla for special sops to set up its factory in the country. If the government has to consider providing incentives then it will only be for all EV makers and entrants who want to come to India, the official said. The official added that inter-ministerial discussions have happened on the customs duty concession demand of the US-based electric car maker Tesla, but "we never" came to any conclusion on those.
The electric vehicle evolution in India's passenger vehicle market has remained frozen in time and may see limited adoption over the next decade, experts say.
Amazon
'In April, we saw a 10 per cent growth in our own volumes.'
The major reason for the policy confusion over e-vehicles is the lack of conviction within government about the utility of this disruptive technology and its role in India's larger Paris Agreement climate change commitments.
Government wants to encourage manufacturing and selling of alternative fuel-based vehicles.
The charging infrastructure expansion includes the setup of over 600 DC charging stations by 2030 (including company-owned and company-operated ones) in addition to partnerships with over 10,200 charging points, collaborating with operators like Shell, Charge Zone, and Statiq.
Days after saying that there is no need for subsidies to achieve greater penetration of electric vehicles (EVs), Union Minister of Road Transport and Highways Nitin Gadkari on Monday clarified that the view is his own, but any official call on EV subsidies is not one that he can take.
'Every Indian should move to an EV, and the government should not buy any fossil fuel cars. The government should become the first driver of EV adoption.'
An Indian official team is likely to visit Washington next week to iron out differences on certain issues before formally launching negotiations for the proposed India-US bilateral trade agreement (BTA), an official said. The visit, which comes within weeks of a high-level US team visiting India, indicates that the talks for the BTA are gaining momentum.
When Gensol Engineering made its public market debut through a small and medium enterprises (SME) initial public offering (IPO) in September 2019, its promoters held a commanding 96 per cent stake. Now, that figure has shrunk to a "negligible" fraction.
'Primary buyers are commercial taxi and fleet operators and small businessmen.' 'CNG prices have been remarkably stable unlike petrol.'
'We are not asking for incentives, but at least taxation can be aligned such that the rupee tax on consumers remains the same.'
Foxconn means serious business in India. Its delegation to India was led by its Chairman Young Liu who met Prime Minister Narendra Modi.
Computer science has been an evergreen choice among engineering aspirants. However, with the rise in AI, students are increasingly realising the potential of automation and robotics.
'When compared to many of America's treaty allies in Asia, Modi 3.0 is on a much stronger footing.'
New electric and hybrid vehicles on display as manufacturers plug into environment-friendly segment.
Based on discussions with stakeholders, the ministry is proposing to allocate Rs 26,400 crore for FAME-III subsidy alone with electric two wheelers getting around Rs 8,158 crore, electric buses Rs 9,600 crore and electric three-wheelers Rs 4,100 crore, according to sources in the know. Along with some other components like setting up an innovation fund and money for testing , the total allocation could cross Rs 33,000 crore, estimates suggest.
10 largecaps stocks which stand to gain from the Budget.
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