The national budget 2019-20 had an outlay of Rs 10,000 crore for Phase-II of the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles scheme to boost electric mobility and increase the number of EVs in commercial fleets.
According to the plea agreement, Sai Varshith Kandula (20), of St Louis, Missouri, crashed a rented truck into the White House perimeter, and he was attempting to gain access to the White House to seize political power.
Tata Motors, India's biggest bus and truck maker, said it aimed over 10 per cent sales growth this year on the back of rising demand for both light and heavy commercial vehicles.
M&M also showcased its new format next generation 'dealership of future' designed by Pininfarina.
'With NPA under control, we should be able to post better profits.'
...But sales of domestic passenger vehicles dropped 2% to 3% year-on-year in August owing to low demand.
Domestic commercial-vehicle (CV) sales volume will witness significant growth over the next few years and the overall CV volume is likely to reach close to 1-million units by FY24, a report said on Wednesday. The report by credit ratings agency Fitch Ratings also expects growing demand and the resultant rise in operating leverage to boost the profitability of the domestic CV-focused original equipment manufacturers after FY22, despite elevated production costs. A recovery in medium and heavy CVs from multi-year lows, along with sustained growth in light CV categories, will help overall CV volume to reach close to 1-million units by FY24 - the level of the last cyclical peak recorded in FY19, it said.
The plan is to offer the ratings of drivers to insurers, which can then customise their premiums -- a higher score meaning a lower premium, for instance, and vice-versa.
'With India's growing capabilities in the space sector, this creates promising opportunities for enhanced collaboration and market access.'
Commercial vehicle major Ashok Leyland plans to strengthen its presence in the 5-12-tonne range of vehicles. It is to launch trucks from the Prague-headquartered AVIA, which it had bought in 2006, and would upgrading its light commercial vehicles (LCVs) from the joint venture it has with Nissan of Japan. It has also said the JV with Nissan would turn cash-positive in the next 18 months.
It was reacting to lawyer Mathews Nedumpara's email to the top court in which he claimed the apex court has been hearing only constitution bench matters, which have no public interest involved, and not the cases of ordinary citizens.
Tata Motors inked an investment agreement to acquire Daewoo Commercial Vehicle. The acquisition marks the beginning of Tata Motors global expansion trail and is expected to help the company make a headway in a number of other markets.
Last 20 yrs have seen 4 JVs ending prematurely. What does this mean?
The Mumbai-based firm has lost almost 10 percentage points in market share since 2009-10, even as other brands have fought hard to wrest share away.
Petrol pumps in many cities witnessed long queues on Tuesday as people came to fill up their vehicle tanks fearing shortage of fuel amid the protest by truck drivers against a provision in the new penal law on hit-and-run accident cases involving motorists.
Noel Tata -- the half-brother of late Rata Tata -- who takes over as chairman of Tata Trusts, has been with the Tata Group for over four decades, slowly rising through the ranks in the salt-to-software conglomerate. Having functioned mostly under the shadows of his illustrious half-brother, Noel (67) will now have the responsibility of leading the Tata Trusts -- broadly comprising Sir Ratan Tata Trust & Allied Trusts, and Sir Dorabji Tata Trust & Allied Trusts -- that hold a controlling 66 per cent stake in Tata Sons, the holding and promoter firm of Tata Group companies.
The new engine features the Westport WP580 Engine Management System and is designed to support various configurations.
The still-unnamed sports utility vehicle (SUV), slated for launch this June, will be in line with its heritage, says Force Motors managing director Prasan Firodia.
The move could be aimed at increasing penetration in emerging markets.
The country saw a massive year-on-year surge in the demand for electric vehicles, with retail sales of electric two-wheelers rising by 58 per cent, passenger vehicles by 130 per cent, three-wheelers by 82 per cent, and commercial vehicles by 171 per cent in March 2023, according to the data shared by the Federation of Automobile Dealers Associations (Fada). According to a report by JMK Research, the EV segment as a whole grew by 157 per cent during FY23, to 1,180,597 units, from 458,746 units a year ago. Overall, EV sales in March 2023 rose by 82 per cent from the March 2022 figure, the JMK report added.
Almost all of these companies either unveiled their new electric vehicle or alternative energy-powered models.
Investors shunned shares of Bajaj Finance on Friday, a day after the non-banking financial company (NBFC) reported a sharp contraction in its net interest margin (NIM) for the March quarter of the financial year 2023-24 (Q4FY24). The losses accounted for a fifth of the benchmark S&P BSE Sensex's 609-point loss. Most brokerages have tamed their earnings expectations for the next couple of quarters, after the management said it expected the pressure on NIMs to continue in the near term.
A joint venture of Reliance Industries Ltd and BP of the UK on Wednesday said it has signed an agreement with the Mahindra Group to explore EV and low-carbon solutions, including battery swapping technology options, for electric 3-wheelers. Besides exploring creation of EV products and services, the non-binding MoU signed by Reliance BP Mobility Limited (RBML) and Mahindra Group would look for identifying synergies in low-carbon and conventional fuels, the company said in a statement. "The MoU also covers evaluating charging solutions by Jio-bp for Mahindra vehicles including electric 3 and 4 wheelers, quadricycles and e-SCV (Small Commercial Vehicles - sub 4 ton)," it said.
India becomes the fifth country after United States, Russia, China and France to enter the launch market.
Demand for passenger vehicles has been driven by new models, especially in the SUV category with the likes of Maruti Vitara Brezza and Hyundai Creta clocking good numbers
Police have advised people to use the navigation app 'Mapmyindia' to get around the city till the restrictions are in place.
ICICI Lombard General Insurance Company reported financial improvement and optimistic commentary in Q4FY24. It reported 17 per cent year-on-year (YoY) growth in Gross Written Premium (GWP) and 115 bps improvement in the Combined Ratio (COR) in FY24, and improved COR guidance with COR going from 104.5 per cent in FY23 to 103.3 per cent in FY24, 102.4 per cent in FY25 and 102.0 per cent in FY26.
While rising interest rates and tighter liquidity are giving negative signals for the financial sector, increasing economic activity could mean higher business volumes for lenders. Liquidity in the banking system has moved from Rs 8 trillion surplus into a deficit of Rs 33,000 crore over the 2022 calendar year. By the end of November, bank credit had grown 17.5 per cent YoY (year-on-year).
Telco spiraled to its 52-week high of Rs 193.60 on reports that the company has hiked its commercial vehicle production by 15-20% for June 2003.
Commercial vehicles however declined by 2.83%
Due to rising input costs, Tata Motors on Saturday raised prices of its passenger and commercial vehicles by Rs 3,000-30,000 with immediate effect.
Tata Delight is a loyalty programme for the company's commercial vehicle customers, both existing and new.
The station house officer of Daryaganj police station has withdrawn an order asking offices, shops, vehicle parking, DTC depot etc in the area to remain shut during the G20 Summit.
With automotive sales entering into a sluggish period, leading commercial vehicle makers are enticing buyers by doling out discounts and lucrative finance options. Tata Motors, for instance, recently run a scheme wherein commercial vehicle buyers would get three months' waiver on equated monthly installments on the vehicle loan. The response, according to the company, was very positive.
As per reports, Rs. 50,000 crore worth of projects are held back. All these will have an impact on the CV sector.
Electric two-wheeler (e2W) maker Ather Energy has submitted preliminary papers to the Securities and Exchange Board of India to raise funds through an initial public offering (IPO). According to the draft red herring prospectus (DRHP), the IPO will comprise a fresh issue of equity shares valued at Rs 3,100 crore, alongside an offer for sale of 22 million equity shares by its promoters and investor shareholders.
Car sales are experiencing a challenging phase with around Rs 60,000 crore worth of inventory lying unsold with dealers.
The EV industry is at an inflection point and batteries will play a critical role ahead -- batteries and related components typically constitute 35-45 per cent of an EV's costs.
