Government wants to encourage manufacturing and selling of alternative fuel-based vehicles.
Chinese manufacturing prowess and its dominance in the strategic sector will have a bearing on India's growth projection in the medium term and its march to become a developed nation by 2047, the Economic Survey said on Friday. The Survey has said India needs to grow at 8 per cent for about two decades to become a developed nation by 2047, but it will have to face challenges from global developments and reliance on Chinese imports.
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.
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.
Maruti Suzuki, Tata Motors, Mahindra & Mahindra, Hyundai and MG Motors are gearing up to introduce EVs in India.
The driver was speeding and the bus swerved for about 200 metres before it dashed into multiple vehicles on the road.
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
The company has embedded intelligence in every layer of its value chain, marked by predictive maintenance, AI-powered image recognition and robotic automation.
'The next two to three weeks will not be decided in Washington.' 'They will be decided in Tehran, in whatever calculation Iran makes about the costs of continued resistance against the costs of appearing to have yielded.'
Force Motors, known for its shared mobility solutions, is gearing up to expand its presence in global markets and defence segment having consolidated its position in India by narrowing down on focus areas for profitable growth, according to managing director Prasan Firodia.
When missiles fly in this region, they are never just aimed at military targets.
Inventories of rare earth magnets used in critical automotive components - particularly electric vehicle (EV) traction motors and power steering systems - could run dry by mid-July this year, according to rating agency Icra.
Czech carmaker Skoda plans to bring more of its global nameplates into the Indian market as it looks to cater to a diverse set of customers, according to a senior company executive. The company, which now sells products in India ranging from over Rs 7 lakh to upwards of Rs 40 lakh, however, has no immediate plans to introduce electric cars in the country.
The meltdown in Dalal Street that wiped out investor wealth to the tune of 44 trillion in 2025 also seems to be having a ripple effect on the country's vibrant automobile retail sales.
'I'm very much against petrol and diesel....'' 'I travel in an electric car.' 'I have had a really good experience with it.'
Major two-wheeler (2W) manufacturers in India witnessed a single-digit decline in domestic sales in November after dispatches had picked up in October for the festive season when wholesales went up by 14 per cent and retail also grew by 36 per cent.
New electric and hybrid vehicles on display as manufacturers plug into environment-friendly segment.
Tesla's plan to manufacture its affordable electric car priced at $25,000 in India and Mexico could materialise sometime in 2025 or thereafter, with Elon Musk declaring that these models would be produced at its existing factories to utilise their full capacity before investing in new manufacturing lines. The company operates factories in Texas and Fremont in the US, Berlin in Germany, and Shanghai in China. By the end of the calendar year 2023, Tesla was manufacturing 1.8 million vehicles annually.
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.
With India's EV penetration at just 2.5 per cent, the market presents an opportunity -- provided Tesla gets its pricing right.
The country's industrial production grew at 4 per cent in August, mainly due to better performance by the mining sector, according to government data released on Monday.
'Currently, EVs are about 30-50 per cent more expensive than ICE vehicles. I believe the inflection point for EVs will come when this price gap narrows to 20-25 per cent. That's when people will start coming in.'
Hyundai Motor India Ltd (HMIL) has since 2019 saved around Rs 5,700 crore in foreign exchange (forex) by locally manufacturing or sourcing more than 1,200 components, including battery packs for electric vehicles, said a senior executive of the automaker. The company's efforts for Aatmanirbhar Bharat, the government's campaign for domestic manufacturing, have resulted in a localisation rate of 92 percent in India, said Gopalakrishnan Chathapuram Sivaramakrishnan, whole-time director and chief manufacturing officer at HMIL.
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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.
Bengaluru-based Ultraviolette launches the fighter jet-inspired X-47 Crossover electric motorcycle at Rs 2.49 lakh, with deliveries to commence in October.
Owing to uncertainties on higher inflation and muted growth in the United States (US), coupled with concerns around America's rising debt and tariffs imposed by President Donald Trump, the world's largest economy has become the epicentre of an unabated record rally in prices of precious metals.
'The scheme excludes tractors, light commercial vehicles, and medium and heavy commercial vehicles.'
Amid US-China trade tensions and economic vulnerabilities, India must seize the 'China +1' opportunity, deepen reforms, secure FTAs, and globalise its firms for long-term growth, suggests Ajay Shah.
For the first time, the event will take place across three locations in Delhi: Bharat Mandapam at Pragati Maidan, Yashobhoomi Convention Centre at Dwarka, and India Expo Mart at Greater Noida.
'The petrol lobby is very rich and strong.'
Analysts believe Tesla will first focus on building the Model Y brand before expanding -- both in terms of volume and models.
May invest around $100 mn in setting up a 200-acre park
Consumers should be given freedom to make a logical choice, and manufacturers enough leeway so that they can produce what the consumer wants.
Foxconn means serious business in India. Its delegation to India was led by its Chairman Young Liu who met Prime Minister Narendra Modi.
The vehicle will not be available until end-2017, or later.
Model 3 received 180,000 orders worldwide.
The US carmaker's entry into India is expected by the last quarter of the current financial year.
South Korean auto major Hyundai Motor Co president & CEO Jose Munoz on Wednesday said the company's Indian arm will invest Rs 45,000 crore by FY30, aiming to make India its second-largest region globally. Addressing investors here in his first visit to the country, Munoz said Hyundai Motor India Ltd (HMIL) has set a target of up to 30 per cent export contribution.
