At Prestige Polygon Towers in Chennai's Teynampet, hectic preparations are on for a mega global investors' meet under the aegis of Guidance Tamil Nadu (the state investment promotion agency) scheduled for January 2024. Asked about the key focus areas of the meet, the agency's managing director and chief executive officer, V Vishnu, said the state was betting big on electric mobility. This is no surprise, given that the state has signed electric vehicle (EV)-related memorandums of understanding (MoUs) with several companies in the recent past that may bring in investments worth around Rs 33,000 crore with the potential to create over 43,000 job opportunities.
China's covid crisis could provoke a raw material crunch for India's EV industry later this year.
Automobile retail sales in the country fell 18 per cent year-on-year in the 42-day long festive period this year as semiconductor shortage impacted production across companies affecting their ability to supply adequate numbers to dealer partners, FADA said on Thursday. During the period under review, barring three-wheeler and commercial vehicles, all other segments including passenger vehicles, two-wheelers and tractors were down as compared with the same period of last year. As per data collated by the Federation of Automobile Dealers Associations (FADA), total retail sales across segments stood at 20,90,893 units this festive period, down 18 per cent from 25,56,335 units in 2020.
A high-level meeting, chaired by Chief Minister Arvind Kejriwal, also decided to enforce the restrictions date-wise as even numbered cars will be allowed to ply on even dates and odd-numbered ones will ply on odd dates.
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.
Auto loan costs remain stubbornly high.
The government on Wednesday favoured a levy of a minimum 6 per cent of the sale price of the vehicle as a lifetime tax by various states.
As per the notification, exemption in VAT would be limited to sale of 3,000 motorcycles, scooters and mopeds and 1,200 four-wheelers every year, they said adding that serving personnel of Indian Army, other security establishments and ex-servicemen will get the benefit of tax exemption.
Maharashtra raises vehicle registration fee, Tamil Nadu ups entertainment tax
Authorities in the Pakistani capital have decided not to issue vehicle registration numbers US-911, UK-911 and UK-77 due to their perceived links to the 9/11 terror attacks in the United States and the 7/7 London bombings.
The FIR, in which 15-20 unnamed people were also mentioned, was registered at the Gurubuxganj police station in Rae Bareli.
This number is more than the total number (1,071) of electric cars sold in India in calendar year 2019. MG has stopped registrations for the ZS and will cater to 2,409 of the total bookings.
Delhi will become the first such city in India to have such a scheme and the only one after Beijing in Asia.
Automaker Citroen on Wednesday said it has commenced home deliveries of C5 Aircross SUV, its first model in the Indian market. The company, which is a part of Stellantis group formed by the merger of two global auto majors FCA and Groupe PSA, is taking online bookings for the model and then directly delivering the SUV to customers from its Tiruvallur-based (near Chennai) manufacturing plant. It is the first of its kind sales initiative in the country. Citroen currently has showrooms across ten cities in the country, including Bengaluru, Ahmedabad, Chennai, Mumbai, Pune, Hyderabad, Kolkata, Delhi, Kochi, and Gurugram. For customers outside these cities, it has launched a 100 per cent direct online buying for its flagship model.
For deciding which vehicles are to be scrapped, the setting up of fitness centres and regulating them would be a humongous task.
The FM said, change in the mindset of the millennials not to commit any EMIs towards buying an automobile and instead taking Ola, Uber or the Metro (train) services also led to automobile sector slowdown.
The Kerala high court on Tuesday asked the police not to take any action against actor Dileep, in connection with a new case registered against him and five others for allegedly threatening investigation officers probing the sexual assault of an actress back in 2017, till January 14.
Durable goods companies and retailers say online sales won't compensate for the fall in offline sales.
The Delhi police has asked for details of all Iranians, including Iranians settled overseas, who have come to the national capital through the FRRO.
Sales of total electric vehicles in India are expected to be around 10 lakh units this year, equal to what was sold collectively in the last 15 years, mainly riding on the good traction witnessed by electric two-wheelers, Society of Manufacturers of Electric Vehicles (SMEV) said on Thursday. In 2021, the sales of electric two-wheelers (E2Ws) in the country jumped over two-fold at 233,971 units driven by a good traction of high-speed scooters as compared to 100,736 units in 2020, SMEV said in a statement. "We haven't seen better days than the last few months in the entire EV journey.
There was heavy police deployment at most of the crossings in the district, around 150 km from Uttar Pradesh's capital city, Lucknow.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Key facts on the India squad for the 2015 cricket World Cup.
Delhi government's odd-even scheme was launched in the national capital on Monday with common citizens giving it a mix response.
A group of men attacked the IAF personnel after his motorcycle brushed past their car.
The government will create an EV Venture Capital Fund, for financial support to start-ups in the segment. The overall aim is to make Tamil Nadu the preferred destination for EVs and component makers.
Bike insurance? Car insurance? Health insurance? Roopam Asthana answers them all.
The government on Friday announced several relief measures including deferring one-time registration fee, lifting the ban on purchase of petrol/diesel vehicles by its departments and allowing higher depreciation, but it remained non-committal on the demand for a reduction in GST rates.
The Cullinan's exterior is completely customisable, and hence you get to choose exactly how your it should look. The hand-built interior offers immaculate precision and makes you feel exclusive, as every Rolls-Royce does. Driving this vehicle is a breeze, and the gearbox functions like it does not exist.
Section 498-A of the IPC deals with the offence of subjecting a woman to cruelty by the husband or his relatives.
I got to know that every referred case for angiography and angioplasty got a kickback of Rs 5,000 and Rs 15,000 respectively. Seeing this trend, doctors started paying referring doctors Rs 1 lakh in advance and adjusting it as and when patients came in. This menace slowly spread its tentacles all over the medical field, including radiological diagnostics and biochemistry laboratories. For every test ordered, 20 per cent of the bill was given back to the referring doctor. This led to doctors recommending unnecessary tests. The pharmaceutical companies also saw burgeoning business. Acclaimed doctors were given televisions sets, refrigerators, air conditioners and cars depending upon the prescriptions. General practitioners would prescribe unnecessary drugs, and were given returns in cash. A fascinating excerpt from Dr Upendra Kaul's When The Heart Speaks.
The court also asked the Uttar Pradesh authorities to file a status report by Thursday on the accident of the Unnao rape case victim.
A trust deficit had been building between developers and their customers, with massive incidence of project delays and deviations. Compliance with Rera is an opportunity to revive buyers' confidence.
On Dr Homi J Bhabha's 110th birth anniversary, Dr K S Parthasarathy shares some personal memories of the legendary nuclear scientist.
Delhi Police on Wednesday impounded around 100 vehicles in compliance with the National Green Tribunal's order putting a ban on plying of diesel-run vehicles of more than 10 years old in the national capital.
The letter narrates the incidents of July 7-8 when some people allegedly associated with Sengar, the sitting BJP legislator, threatened the victim's family with dire consequences.
India's Goods and Services Tax (GST) collection surged to Rs 1.30 lakh crore in October, the second highest since its implementation in July 2017, indicating economic recovery from the COVID-19 pandemic and impact of festive demand, a finance ministry statement said on Monday. The highest GST collection of Rs 1.41 lakh crore was recorded in April 2021. This is the fourth time in a row when the GST collection was upwards of Rs 1 lakh crore. The collection from GST was Rs 1.17 lakh crore in September, 2021.
6 people, including Pehlu Khan's sons Irshad and Arif, and their lawyer were on way to court in Behror when some unidentified people arrived in an SUV and fired on them.
In a video posted after the alleged attack, Goswami said he was told by his security guards that the attackers were allegedly Youth Congress workers. However, there was no confirmation of the same by either police or the youth outfit.
286 dealers closed down in 18 months, 32,000 jobs impacted. Maharashtra leads with 84 closures, followed by Tamil Nadu and Delhi. The worst-hit is the passenger car segment.
