'We are not asking for incentives, but at least taxation can be aligned such that the rupee tax on consumers remains the same.'
MSI had around 3,300 workers at the Manesar plant before the July 18 violence, in which one executive was killed and 100 injured.
JLR is the latest in the list of companies which have announced a likely impact on operations due to crunch in auto component supplies from Japan.
Maruti Suzuki India (MSI) on Tuesday said it will not resume full-scale production at its Manesar plant till workers sign a 'good conduct bond', as demanded by the company to ensure there is no repeat of quality issues that have surfaced at the plant.
"That there is an impact on (auto component) supplies is a given, we will have to adjust our production accordingly," said Jnaneswar Sen, vice-president (marketing), Honda Siel Cars India.
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.
The Auto Component Manufacturers Association of India on Wednesday sought reduction in GST rate to a uniform level of 18 per cent for the entire automobile industry to stimulate demand and help save around 10 lakh jobs, which are at risk due to prolonged slowdown in vehicle sales.
Audi plans to focus the Indian market, including deepening market penetration and increasing sales volume.
In about one-and-a-half to two years' time, Fiat's independent showrooms would be present in 20 cities.
Auto component companies -- especially the mid-size and small ones -- are facing an uphill task to stay afloat as banks have become tight-fisted in giving credit and vehicle makers are cutting orders to combat the slowdown in sales.
'From data on enquiries, we can build what we call a data lake or a data warehouse where data is classified into various cohorts and then we use AI and ML tools to predict demand down the line.'
Tamil Nadu -- often dubbed as India's own Detroit due to its thriving automobile manufacturing ecosystem -- is in no mood to miss the EV bus either. Recent developments attest to it. Vietnamese electric vehicle (EV) maker VinFast has promised a $2 billion plant in the southern state. And as promised earlier, the work on Tata Motors-JLR plant will kick off next week, on September 28, after the foundation stone laying ceremony.
Suzuki chairman Osamu Suzuki on Saturday assured Haryana Chief Minister Bhupinder Singh Hooda that the company's future investment in India would be made in Haryana only and they would make Gurgaon the ''Detroit'' of India.
Finance Minister Jaswant Singh on Monday approved 34 foreign direct investment proposals worth Rs 77.11 crore (Rs 77.1 million).
The Pricol and Graziono cases are extreme ones, but there has been a steady rise in the number of worker disputes.
The auto component sector grew at 5-6 per cent last year against a 13 per cent growth in 2012.
Automotive component manufacturer A K Minda Group on Thursday announced a 50:50 joint venture agreement with France's Valeo Group to manufacture auto security products.
As German automotive component giant Bosch prepares to manufacture common rail diesel injection systems in India from 2006, the company is eyeing big ticket orders in the passenger car market, targeting the Tatas as well as Maruti, which is coming up
BJP workers depend on Annamalai's popularity to emerge victorious. He has has made 100 promises to be fulfilled in 500 days and assurances include cleaning up rivers, an international airport and food vans named after former Chief Minister K Kamaraj.
These 10 stocks represent the best mix of value and growth, offering relatively low price-to-earnings and price-to-book ratios, a high return on equity, and sufficiently high potential from current levels.
Lord Swraj Paul's Caparo Group has announced a major expansion of its operations in India with the addition of three automotive components manufacturing plants.
"I took some time to explore the contours of this initiative. I don't use the term 'game-changer' too often but it's apt in this case. For me, what's much more important than the mechanics of the scheme is the dramatic shift it signals in the attitude towards industry," Mahindra said in a tweet.
Slym, 51, died after falling from a high floor of the hotel in Yannawa district, Bangkok.
'The risk is in not being invested and missing out on an upmove.'
Shares of auto component major, Samvardhana Motherson International, has gained 11.5 per cent on the bourses after the company approved the qualified institutions placement (QIP) issue and announced the calculation methodology for its compulsorily convertible debentures, or CCDs, into equity shares. Analysts cite strong investor response to the issue that has kept the sentiment positive for the stock. Brokerages, however, have a mixed view on the outlook for the auto parts supplier.
Starting as a maker of hydraulic pumps, the Bengaluru-based company graduated to components for automakers like BMW and Audi, and then Airbus and Boeing
The TVS family has been engaged, for more than a century, in a diverse range of businesses through various entities in which the branches of the TVS family have invested in or through T V Sundaram Iyengar & Sons, Sundaram Industries, and Southern Roadways - collectively referred to as the TVS Holding Companies.
Wipro was the biggest gainer in the Sensex chart, rising 4.79 per cent, followed by M&M, L&T, Tata Motors, Maruti, Infosys, Nestle India and IndusInd Bank.
Under regulatory scanner, Bengaluru-based Ola Electric has witnessed an uptick in its sales after facing a decline during the last few months. The company's daily average sales rose to 1,154 units in October, according to Vahan data from the Ministry of Road Transport and Highways (MoRTH). With sales reaching 17,315 units between October 1 and October 15, the company has also boosted its market share to 34 per cent, up from 27 per cent in September, in the electric two-wheeler (e2W) segment.
'This case is not a good example of intellectual property strategy for either sector.'
Strong performance of past IPOs spurred investors' interest, with 87 small and medium enterprises (SMEs) garnering Rs 1,460 crore through initial share-sales in the first nine months of the year. This was way higher than 56 companies that had raised Rs 783 crore through initial public offering (IPO) in the entire 2021, the industry data showed. Further, the remaining part of the year 2022 can see more mature companies accessing the platform.
The Union Cabinet on Wednesday approved a Rs 26,058 crore production linked incentive (PLI) scheme for auto, auto-components and drone industry to enhance India's manufacturing capabilities, Union Minister Anurag Thakur said on Wednesday. The PLI scheme will incentivize the emergence of advanced automotive technologies' global supply chain in India.
The government is expediting visa-related issues to bring technicians to India from any country, not just China, as and when required, to ensure the smooth implementation of the flagship production-linked incentive (PLI) scheme aimed at boosting domestic manufacturing. "If those under the PLI scheme need to get their equipment installed, we try to expedite the ability to get technicians into India from any country, whichever it may be," Union Commerce and Industry Minister Piyush Goyal told Business Standard in an interview.
With a million-odd electric vehicles (EVs) - two-wheelers, e-rickshaws, buses and passenger cars - expected to hit the road this calendar year, the shift from gasoline-powered vehicles has become irreversible. Now the question is whether the supply chain is ready for this shift. Key components - the high-powered lithium-ion battery and the cells which go with it, the electric motor, and the electronics powered by chips - account for nearly 60 per cent of the cost of an EV.
'Right now, we are increasing production in anticipation of the demand during the festive season.' 'If the demand doesn't come back, all the production will languish in the factories.'
The proposed exemption in customs duty on import of lithium, cobalt and other rare minerals in the Union Budget 2024-25 is likely to lower the battery production cost and help in making electric vehicles more affordable for the buyers, auto industry leaders said on Tuesday.
