Berkshire Hathaway firm Lubrizol opens GCC in Pune
Specialty chemicals company Lubrizol Corporation on Thursday opened a new global capability centre (GCC) in Pune. This follows the $150-million investment announced last year by Lubrizol, a Berkshire Hathaway company, to expand manufacturing capacities and accelerate growth in India.

How Tesla can reach USD 3.6 billion in revenue from EV sales in India by 2030
New Delhi: With Tesla and SpaceX CEO Elon Musk confirming his first-ever India visit to meet Prime Minister Narendra Modi later this month and announce key investments in the electric vehicle (EV) space, industry experts on Thursday said that the country could grow into a considerable market for him in the foreseeable future, generating at least USD 3.6 billion in revenue by 2030.

Chipmaker Polymatech plans ₹1,500 crore IPO by year-end
New Delhi: Semiconductor chip manufacturer Polymatech Electronics plans to raise ₹1,500 crore through an initial public offering (IPO) by the year-end, chief executive and managing director Eswara Rao Nandam said in an interview.

Top industry bodies IESA & SEMI partner to boost India's semiconductor goals
In a boost for the country's semiconductor industry, the India Electronics and Semiconductor Association (IESA) on Wednesday forged an alliance with global industry association SEMI.

Auto stocks, mirror of economic growth: The not so bullish analysts would be proven wrong ?
If one looks at the history of the bull run, there are a of couple sectors which given best indication of the strength of that rally. Because those are the sectors where data is reliable and they have strong correlation with the economy doing well or not. Amongst others like cement, real estate, auto is probably the lead indicator on what is happening on the ground in the economy. Now as reflected by GDP numbers and other macro data points, there is clear indication that things are on the right track and there is no reason why they will not in the coming years when it comes to the Indian economy. But given the fact too much liquidity is floating in the markets, some of the stocks have seen a sharp run with valuations moving upward sharply. That is probably the reason why analysts, while being bullish, are more cautious when it comes to the target of stock price. For example, while they have buy on stock, they are expecting just 5 %return.

Silent drive: Electric vehicle capital Hosur navigates the election circuit
 

CEO’s Take On 2024: From rural economy to African markets auto sector needs action on many fronts, says Tsutsumu Otani, MD, President & CEO, HMSI
The excerpts:

Pre-used car mart sees vrooming demand for premium SUVs
With three-year-old Mahindra XUV700, MG Hector, Kia Seltos and other pricier and more premium SUVs making their way into the used car pool, demand for the above-INR 10 lakh SUV is vrooming in the pre-used car market.

3-month Mahindra Thar catches fire, check out video
Mahindra Thar is one of the most desired vehicles in India for its superior off-roading capabilities. In the past couple of years, many EVs, especially electric two-wheelers have blown up to flames, raising question marks about their battery composition and thermal management.

Hyundai Grand i10 Nios Corporate edition launched – here’s how it compares against rivals
Hyundai has launched a new variant of Grand i10 Nios. Called the Corporate Edition, this special variant is priced at Rs 6.93 lakh for the manual gearbox and Rs 7.58 lakh for the AMT variant (both prices ex-showroom). The Corporate Edition variant is slotted above the Magna trim and the Sportz Executive trim. 

Mercedes-Benz India mulls price hike amid input costs, supply chain challenges
New Delhi: The country’s leading luxury car maker, Mercedes-Benz India, on Thursday said it was considering another price increase anytime because of continuing high input costs and global supply chain issues. The company increased the prices of its select models by two per cent on ex-showroom prices, effective January 1, due to the sharp increase in commodity and logistics costs combined with inflationary pressures.

No impact on ultra-luxury EV players: Mercedes-Benz
New Delhi: luxury carmaker mercedes-benz India on Thursday welcomed Tesla's India entry plans, stating that competition is good for the industry as it will add in the overall growth of premium cars. However, the car-maker's Vice-President, Sales & Mar-keting Lance Bennett said Tesla is unlikely to be in the same segment as Mercedes-Benz EVs. Also, a recent report said Tesla will export right-hand drive cars from its plant in Ger-many to India later this year. 

Mercedes-Benz India FY24 sales up 10% to 18,123 units
New Delhi: Luxury car maker Mercedes-Benz delivered 5412 new vehicles to customers in India, in the January- March 2024 period, marking 15% y-o-y sales growth (Q1 2023: 4697 units). Mercedes-Benz also recorded its highest fiscal sales ever in India, with 18,123 units sold in FY 2023-24 (FY 2022-23: 16, 497 units; +10%).

Mercedes-Benz India mulls another price hike due to high input costs
Leading luxury car maker in the country, Mercedes-Benz India, on Thursday said it was considering another price increase anytime because of continuing high input costs and supply chain issues at the global level.

Nearly one in two luxury cars sold in March quarter was Mercedes Benz

According to industry estimates, 11,853 units were sold by luxury carmakers in the country in the first three months of 2024, registering a growth rate of 14 per cent Y-o-Y.

CNH expands India Technology Center, opens Multi-Vehicle Simulator
New Delhi: CNH, a global leader in agricultural and construction solutions, has added a cutting-edge Multi-Vehicle Simulator (MVS) at the company’s India Technology Center (ITC).

TVS SCS delivers 5 lakh 2W CKD kits for TVS Motor from the Hosur facility
New Delhi: TVS Supply Chain Solutions Limited, a global supply chain solutions provider and one of the largest and fastest growing integrated supply chain solutions providers in India, Thursday said it delivered 500,000 CKD (Complete Knock-Down) kits for its customer, TVS Motor Company, from its (TVS SCS’) dedicated warehouse facility in Hosur, Tamil Nadu.

Huem, Royal Enfield launch “A Shot of Mumbai” collab inspired by Hunter 350
Fashion Brand Huem and motorcycle brand Royal Enfield have collaborated for a fusion of the motorcycling culture and high-street fashion to introduce ‘A Shot of Mumbai’-  a collection of apparel and helmets inspired by Royal Enfield Hunter 350. This collaboration was launched on April 10, 2024. 

Bajaj Pulsar NS400 launch on May 3
Bajaj launched the updated Pulsar N250 yesterday at a nominal price hike. Currently, the flagship Pulsar in the lineup, the N250 won’t sit on top for too long. It has already come to light that Bajaj is developing a larger 400cc Pulsar which will be launched sometime this year. Now, we have an exact launch date for the biggest Pulsar ever.

Battle of e-scooters for customers moves to India’s hinterland
New Delhi: Distribution and finance options across the small towns and cities of India are likely to determine the outcome of a fierce battle about to break out between legacy and new-age OEMs in the electric scooter segment. The battle is in the making after Ather Energy announced the launch of Rizta, a family scooter, at an attractive introductory price.

Uno Minda breaks ground for Rs 542 crore alloy wheel plant in IMT Kharkhoda
Tier 1 supplier Uno Minda (formerly Minda Industries) held a groundbreaking ceremony for its upcoming greenfield passenger vehicle alloy wheel plant with a capacity of 120,000 wheels per month at IMT Kharkhoda, Haryana.

IIT Kanpur Startup Simactricals raises INR 75 lakh funding
New Delhi: Simactricals, incubated at the Startup Incubation and Innovation Centre (SIIC), IIT Kanpur, has announced the development of its wireless charging system. Founded in October 2020 by Mihir Mishra and Balaji Sriram, Simactricals is known for its innovative approach to EV technology. Recently, Simactricals successfully raised 75 Lakhs through the SanchiConnect pre-seed cohort program.

Exide Industries EV battery pact is positive, but not without challenges
Exide Industries Ltd stock fired up this week, rising 20%, following the announcement on Monday of a memorandum of understanding (MoU) with Hyundai Motor Co. and Kia Corp. for supply of batteries.

Finolex Cables eyes 10% growth in auto cables business
Finolex Cables is eyeing 10-12 per cent growth in its auto cables business, according to Mahesh Viswanathan, Deputy CEO and CFO, Finolex Cables. Speaking to businessline Viswanathan said, ‘‘We see the auto industry’s growth momentum continuing at 11-12 per cent. Our auto cables business is also growing along the same lines at 10-12 per cent.”

Tata Passenger Electric Mobility and Shell partner to set up EV charging stations
To improve the experience of EV owners across India, this agreement between TPEM and Shell India Markets Private Limited (SIMPL) aims to explore synergies between the two companies to encourage more people to adopt electric vehicles in the country. The two companies are also exploring introducing convenient payment systems and loyalty programs, which will add significant value to TPEM’s customers.

GoMechanic to use ExxonMobil engine oil at its workshops
GoMechanic has announced a partnership with ExxonMobil Lubricants (ExxonMobil). As per the understanding, GoMechanic will leverage ExxonMobil’s profound expertise in engine oil technology. ExxonMobil on its part will provide premium-quality engine oil to GoMechanic’s extensive network of workshops, ensuring unparalleled performance and durability for serviced vehicles.

Tata Safari, Harrier get up to Rs 1.25 lakh discounts on MY2023 stocks
Source Credit: Autocar India

Tata Motors is offering attractive benefits and discounts this month on the Harrier, Safari, Nexon, Altroz, Tiago and Tigor. Customers can enjoy the benefits in the form of cash discounts and exchange bonuses, but these are only applicable on MY2023 models. Let’s take a closer look.

Mercedes Benz announces major retail expansion plans for India
Source Credit: Autocar India

On the back of its strongest year in sales, Mercedes-Benz India announced a significant retail expansion plan today beginning with the setup of a performance driving centre.

Mercedes India records highest ever monthly, quarterly and yearly sales
Source Credit: Autocar India

Mercedes-Benz India is celebrating its highest ever sales in the country with 2,827 cars and SUVs sold in March 2024; 5,412 units sold in the January to March 2024 quarter; and 18,123 units sold in FY2023-24. This marks a sales growth of 15 percent compared to Q1 2023 (4,697 units), and 10 percent over FY2022-23 sales (16,497 units).

Hyundai Creta EV to borrow interior bits, electric motor from Kona EV
Source Credit: Autocar India

Hyundai has actively been testing the Creta EV in India that will debut globally by late 2024. Previous spy shots have hinted at a design that’ll be largely similar to the ICE-powered Creta. On the inside, the Creta EV will get unique touches, some of which could be borrowed from the new Kona EV sold abroad.

Mercedes India confirms 9 new car, SUV launches in 2024
Source Credit: Autocar India

Along with announcements regarding its stellar sales performance and expansion plans, Mercedes-Benz India has also revealed its launch plan for 2024. The German brand will have nine new car launches this year, which will see at least two new AMG models, and a doubling of its EV portfolio.

Hyundai Grand i10 Nios Corporate variant relaunched at Rs 6.93 lakh
Source Credit: Autocar India

Hyundai has launched the Grand i10 Nios Corporate variant, priced between Rs 6.93 lakh and Rs 7.58 lakh, ex-showroom, Delhi. The Korean brand had introduced a limited-run variant with this name back in 2020, but had discontinued it in 2021. The new Nios Corporate variant is available in manual and AMT form, with the same 83hp, 1.2-lire petrol engine.

US NTSB probes fatal Ford Mach-E crash in Philadelphia
The U.S. National Transportation Safety Board (NTSB) said on Wednesday it was opening an investigation into a March 3 fatal crash between a Ford Mustang Mach-E and two stationary cars on the I-95 interstate highway in Philadelphia.

CarMax shares slip after delaying long-term target, Q4 results miss
Pre-owned vehicles retailer CarMax missed analysts' estimates for fourth-quarter results and delayed a long-term financial target on Thursday, sending its shares down as much as 13% in premarket trading.

Kia names pickup truck as Tasman; plans debut in 2025
New Delhi: Kia Thursday announced that `Tasman’ is the name of its pickup truck. The name, Inspired by the rugged beauty and pioneering spirit of Tasmania, the island at the southernmost tip of Australia, evokes a spirit of adventure and exploration, the company said.

Vulcan Energy starts its first lithium chloride production in Germany
Lithium supplier Vulcan Energy on Wednesday announced the start of production of the first lithium chloride at its extraction plant in Germany using geothermal energy, an essential step toward producing battery-grade lithium hydroxide.

China's battery storage capacity growth likely to slow in 2024
Growth in China's battery storage capacity could slow down in 2024, according to an industry association, as energy storage struggles with low profitability.

Volkswagen to invest additional 2.5 billion euros in China
German carmaking giant Volkswagen Group said Thursday it would invest 2.5 billion euros (USD 2.7 billion) to expand its operations in China as it tries to prevent a sales slide in its most important market.

Chinese car manufacturing in Italy could force tough decisions, says Stellantis CEO
Chinese car manufacturing in Italy could force some tough decisions for Stellantis including plant closures, the head of the Franco-Italian group, Italy's sole major automaker, said on Wednesday.

China protests EU's investigation of subsidies in green industries, calling the move protectionist
China has accused the European Union of protectionism and "reckless distortion" of the definition of subsidies in response to a new EU investigation into Chinese wind turbine makers.

Soaring insurance costs hit as US buyers finally get a break on car prices
A new form of sticker shock has hit American car buyers like Darin Davis.