Earlier in May, Ford India announced that it had dropped its plans to make electric vehicles (EVs) in India, which it intended to export, under the production-linked incentive scheme (PLI). Ford was among 20 companies that had signed a Champion OEM Incentive Scheme under the PLI project with the government in February this year. The decision comes as a blow for the 4,000-odd employees at Ford India's Maraimalai Nagar plant near Chennai and in Sanand, Gujarat. In September last year, the company had announced that it would exit the India market, which it had entered in 1995 through an on-again, off-again joint venture with Mahindra & Mahindra (they split in 1998, signed a JV in 2019 and split again in December 2020), retailing petrol and diesel brands such as the EcoSport, Figo, Aspire, and Endeavour.
Time was when you turned on your car's ignition, all that happened was that the mechanical system fired up your engine and made it run. Today, the moment you do so, your stereo system probably lights up, connects to the Bluetooth on your smartphone, and lets you make calls through an audio assistant or play music from your phone, which you can hear on the car's speakers. All these smart features in a car are powered by semiconductors, or chips, as they are commonly called.
as the FAME II deadline of March 31, 2024, nears, EV manufacturers are worried about their investments and future plans.
Close to half a dozen more three-row premium mid-size models are expected to hit the road over the next two years.
For automakers, the festive season is about raking it in through ramped up sales and attractive consumer offers. However, despite the robust demand, what may spoil the party this year is a global shortage of semiconductors.
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Maruti's exports are limited and mainly to countries in Africa and Latin America.
'Some of the launches may get deferred due to the semiconductor shortage, which is unlikely to get resolved before the second half of 2022.'
First off the block will be a new multi-purpose vehicle which is being co-developed with Toyota - Suzuki's alliance partner. The model will also wear a Toyota badge.
With the Thar, M&M has come full circle. In a market where every other vehicle has an SUV tag, the company plans to stick to its core competence of making rugged, true-blue, all-terrain SUVs, and marks a fresh beginning for the 75-year-old firm that enjoyed an indomitable position in the SUV segment till 2012, reports Shally Seth Mohile.
Chinese automakers Great Wall Motors, FAW Haima Automobile, and Changan Automobile, after dithering about entering India for some years, have been encouraged by the robust sales performance of the late entrants Kia Motors and MG Motors even in a slowing market.
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The new tax regime has also been fuelling sale of SUVs, particularly the compact SUVs
Higher exports will also drive up volumes, as the company seeks to avail of the benefits under the government's recently announced production linked incentive scheme.
Cars and two-wheelers attract 28% GST and a cess in the range of 3-22%, taking the effective tax rate to up to 50%.
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.
Ford to launch new compact car Figo Aspire in India
The entire range of Hyundai's diesel cars - from compact ones to SUV models, including the soon-to-be-launched Aura - will be eco-friendly.
Mercedes-Benz plans to sell more compact cars.
If one leaves aside 2016, when sales declined 4.68 per cent, the pace of growth in 2018 is the slowest in a decade, according to IHS Markit, a sales forecast and market research firm.
Some of the notable models set to make a debut next year include the Tata Harrier, the Mahindra S201, the Kia SP Concept, MG Motors' Boujun 530, and the Honda HR-V.
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After a two-year lull, the deal pipeline in India's hospitality sector, which has witnessed a strong revival since the second wave of the pandemic receded, is running full. Family offices, high net-worth individuals (HNIs) and institutional investors are looking at the sector with renewed interest, according to investment and transaction advisory firms working on multiple deals. Most of them declined to divulge details of the deals for reasons of confidentiality. The cumulative debt of the tourism, hotels and restaurant sector rose 8.2 per cent year-on-year (YoY) to Rs 64,408 crore as of March 25, 2022 against Rs 59,519 crore on March 26, 2021, according to the Reserve Bank of India.
Mercedes-Benz India, BMW India and Audi India have lined up over 50 new model launches as they seek to recoup previous year's loss in volumes, reports Shally Seth Mohile.
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No major glitches in electronic voting machines were reported and the voting passed off peacefully with high security observed at the 3,360 critical booths in 493 locations where more than 25,000 police personnel, nearly 13,000 home guards and 100 companies of paramilitary forces were deployed, officials said.
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Despite the romance around the car and its early models, Fiat in India will also be remembered as a brand that frittered away the first mover advantage, says Shally Seth Mohile.
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If the ravishing Yami Gautam injects vivacity and vulnerability in her dilly-dallying Ginny, Vikrant Massey is absolutely smashing as the sweet-natured dunce who endears himself to her, cheers Sukanya Verma.
Forced out of grounds, tracks and courts by the coronavirus pandemic, sports events may help in the long run, but medical experts on Wednesday warned that resuming anything this year could mean putting lives at risk. When sporting events do eventually make a comeback, which some of the region's top doctors believe is not going to happen until at least the next six months or may be nine, it may not be the same initially.
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Mobility company Ola's chief financial officer Swayam Saurabh and chief operating officer Gaurav Porwal are leaving the company. These developments come at a time when the SoftBank-backed company's core ride-hailing unit is planning to go public and for which it raised $500 million from Warburg Pincus and Temasek in July this year. These investment firms had partnered with the company founder Bhavish Aggarwal for this round.
Besides Kohli, who led India to a historic Test series triumph in Sri Lanka recently, the likes of Shikhar Dhawan, Ishant Sharma, Gautam Gambhir and Ashish Nehra were also named among the probables.
Toyota Motor Corp is betting on pricier premium models offering better safety and quality.
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The testing facility at Rohtak would have more than 30 different tracks covering a length of about 30 km to check the various operational aspects of a vehicle.
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