The investment will be made through a joint venture with Toshiba and Denso. The battery is the most expensive single part of an EV.
Amid a shift in mobility trends and people increasingly opting for less polluting energy sources, sales of compressed natural gas (CNG) vehicles increased more than 82 per cent in the past five years. A total of 729,902 CNG vehicles were sold in 2022-23 against 400,825 in 2017-18, according to VAHAN Dashboard. Though the increase in sales of CNG-powered vehicles has been significant, their share in overall vehicle sales remains minuscule as is the case with EVs.
Firms to find alternative export routes or face increased trade barriers
In the Sensex pack, Sun Pharma was the biggest gainer, rallying 4.48 per cent, followed by Bajaj Auto, Tata Motors, Coal India, Hero MotoCorp, Maruti and HCL Tech, rising up to 3.01 per cent. While, RIL, PowerGrid, HDFC, L&T, IndusInd Bank, NTPC and Bajaj Finance declined up to 1.50 per cent.
Experts believe while escalation with Pakistan might not have a significant impact on trade economics, both India and China have major trade and investments in each others' economies. While the dispute might continue, it could have a temporary effect on the markets.
Sluggish corporate earnings, lacklustre global markets, FPI and slowdown concerns have played spoilsport for the markets.
Of these, three stocks belong to the automobile pack and two are from the pharma.
The Bombay Stock Exchange 30-share index resumed better at 21,278.08
The broader NSE Nifty plunged 119.15 points, or 1.01 per cent, to 11,709.10.
Top gainers in the Sensex pack included Bajaj Finance, ONGC, Yes Bank, HDFC, HCL Tech, Tech Mahindra, TCS, ICICI Bank and RIL, rising up to 3.57 per cent.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
It may be the season for corporate matchmaking but India Inc's record of managing partnerships is far from impressive, says Shailesh Dobhal.
Customers, instead of visiting showroms, now do most of their decision-making in the comfort of their drawing rooms using internet
Close to half a dozen more three-row premium mid-size models are expected to hit the road over the next two years.
The dealers operating in the space have jumped nearly three times over the past two years.
In the Sensex kitty on Wednesday, Tata Motors emerged as the top loser falling 3.01 per cent, followed by Vedanta shedding 2.92 per cent. Other laggards include HUL, Kotak Bank, NTPC, Infosys, HDFC Bank, Bajaj Finance, Hero MotoCorp, ICICI Bank, Yes Bank, HDFC, IndusInd Bank and PowerGrid, falling up to 1.77 per cent.
The country's biggest carmaker is now more valuable than the combined market cap of the three leading automobile companies in the country: Tata Motors (Rs 1,18,684 crore), M&M (Rs 86,336 crore) and Ashok Leyland (Rs 34,700 crore).
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.
For players like Toyota Kirloskar and Ford, the contribution of UVs to overall sales is now well over 60%.
Firms generated free cash flows in 2013-14, for the first time since the 2008 Lehman crisis
The Duke of Edinburgh has been pictured back behind the wheel of a new Land Rover on Saturday afternoon on the Sandringham estate, the royal family's Norfolk retreat near to which the Thursday's accident took place, the Telegraph reported.
The luxury SUVs will compete against models of Mercedes-Benz, BMW, Audi, Volvo, Porsche and Land Rover
Joint crack team of Maruti, Tata Motors, M&M to develop hybrid cars in India
The Japanese auto major says the ban has made it difficult to launch new products or commit fresh investments
Will Maruti Suzuki Grand Vitara see a second innings in India?
The BSE Midcap and Smallcap indices underperformed the largecaps and ended over 1% lower.
Retail investors have gained significant heft in the past year amid a sustained uptick in Indian equities. The share of retail investors in companies listed on the NSE reached an all-time high of 7.32 per cent in the quarter ended December 31, 2021, up from 7.13 per cent in the previous quarter and 6.9 per cent a year ago, the data from PRIME Infobase shows. This was despite the Nifty's 1.5 per cent decline during the quarter.
A crucial meet of the Reserve Bank's central board is underway amid a rift between the central bank and the government over future course of policies. Expectations of a positive outcome boosted market mood after the meeting began.
'If Indians are as smart as their counterparts in university, and have equal opportunity, then what is the reason that we cannot produce inventions of quality that are recognised by the world?'
'Cyrus was always very different. He would think before acting.'
Richest Indian Mukesh Ambani-led RIL was the top private sector company from the country as it jumped from 203rd rank last year to 148th.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
In absolute terms, prices will go up by Rs 5,500 to Rs 47,000, depending on the model and prevailing prices.
While home-grown firms like Tata and Mahindra have been actively participating in the government's e-mobility mission, by launching electrified versions of their existing models, the global firms believe electric is not the best solution for a country where the primary source of power generation is coal, and where infrastructure is a big impediment.
'Only if the Budget springs some surprises we may see a halt in the selling.'
Broader markets outperformed with BSE Midcap and BSE Smallcap adding 0.23% and 0.45%, respectively
Experts tell Ujjval Jauhari that investors need to be careful in picking stocks given high valuations and with markets possibly ignoring potential risks
Sustained foreign fund inflows and strengthening rupee are among the main reasons behind the market rally.
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.
In a historic referendum on Thursday, the United Kingdom voted to leave the Eurozone.
