Top Indian Automobile Industry News & Updates - 18 April 2024,Thursday
🏢 Industry
India strides towards faster EV adoption
The ambition of the Indian Government to position India as a front-runner in the EV space is not unknown. Rising focus on clean energy initiatives, reduction in carbon footprint with a target to achieve net-zero emissions by 2070 married with the national campaign of ‘Make-in-India’ reinforces the need for strategic initiatives to attract investments and boost domestic demand for EVs.
In Assam, PM Modi spotlights Northeast's role in accelerating India's Semiconductor Mission
New Delhi: Prime Minister Narendra Modi, while addressing a public meeting in Assam's Nalbari on Wednesday, once again outlined his vision to make India a global hub of semiconductor design, manufacturing and technology development, and the significant role the Northeast region will be playing in accelerating India's Semiconductor Mission.
AMU records 3X growth, plans to raise INR 400 cr to fund 1 lakh EVs by FY26
New Delhi: Accelerated Money for U (AMU), has recorded 3X growth in revenue in FY24 compared to the previous year. To scale this growth and boost profitability, it intends to raise INR 400 crore by FY26. The NBFC will use the capital to fund 1 lakh electric vehicles over the next three years and diversify its financing offering to extend its support to the broader clean-tech domain.
Battery storage to EV finance: What World Bank's $1bn for SBI will support
New Delhi : The World Bank plans to provide a $1 billion line of credit to the State Bank of India (SBI) to support the expansion of Battery Energy Storage Systems (BESS) and electric mobility in the country, two people aware of the development said, a move that helps India quicken its green energy transition.
Sharp drop in electric two-wheeler sales after FAME II revision – All details on what’s the trigger
A look at electric two-wheelers sales thus far in April (as of April 17, 2024) presents a rather grim picture. Barring a handful – Ola Electric, Revolt Intellicorp, Pure Energy and Lectrix EV – none of the OEMs are expected to even match their sales performance for the same month last year.
Tesla chief Elon Musk likely to unveil $2-$3 billion India investment during visit, sources say
Tesla's Elon Musk likely to unveil ₹3 billion India investment during visit
mint
MG Motor India looks to expand network in tier III, IV to drive next phase of growth
MG Motor to open 100 new touchpoints in tier-3/4 cities by end-2024
The Hindu Business Line
Elon Musk to meet Indian space tech founders during Delhi visit
SpaceX founder and Tesla CEO Elon Musk is likely to meet India’s top space technology entrepreneurs in New Delhi when he visits the country later this week. Government authorities have reached out to the founders of select space-tech start-ups that have achieved scale, as it plans to facilitate their meeting with Musk, businessline has learnt. Dhruva Aerospace, Skyroot, Galaxeye, SatSure and Agnikul Cosmos are among the space-tech start-ups in India that are set to meet Musk.
📝 Discounts, freebies drive in as automakers seek to push sales
📝 Five awesome Tesla features that India does not need. And why
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🎤 Interviews & Features
Five features India-bound Maruti Suzuki Swift will miss out
With the 2024 Maruti Swift launch around the corner, customers are eager to see what’s on offer. The Swift was showcased last year at the Tokyo Mobility Show and the hatchback is on sale in the UK.
Creta Rival: What makes 2024 Kia Seltos value for money?
The midsize SUV, the Seltos, was recently updated by Kia with more features added to the less expensive models and more economical automatic alternatives. Even though the facelifted Seltos was introduced last year, the South Korean automaker has strengthened its position in the mid-size SUV market by giving two of its variants more equipment and offering new paint schemes for the entry-level model. We find out what makes the 2024 Seltos a value-for-money SUV.
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🚗 Cars / SUVs
Maruti Suzuki to appeal in SC against INR 2.5 cr liability order from CESTAT, Chandigarh
New Delhi: Maruti Suzuki India Ltd, the largest Indian automaker, has informed about the order it has received from the Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Chandigarh. The company said that the order was received on 16th April 16, 2024, in matter of service tax liability under reverse charge basis on certain services that have been partially allowed.
2024 Jeep Meridian facelift confirmed for launch later this year
Jeep will be launching the updated iteration of the Wrangler in India in a few days. Now, the iconic American brand has announced that it will also introduce a facelifted version of Meridian in India later this year. The company has reportedly started testing for the updated Meridian on Indian roads.
Mahindra XUV 3XO teased again, gets remote climate control via AdrenoX
It is no big secret that Mahindra will be launching a facelifted XUV300 soon. Earlier this month, Mahindra teased the facelifted XUV300 on its social media platforms where it was revealed that the subcompact SUV will be rebranded as ‘XUV 3XO’ in its updated avatar.
📝 European-spec Citroen C3 Aircross teased ahead of debut on April 18
📝 New Force Gurkha to get digital cluster, large infotainment screen: Launch soon
📝 Nissan Magnite recalled in India over this issue: Check if yours is affected
📝 Mahindra Bolero Neo+ launched: Five key highlights
📝 Mahindra Bolero Neo+ energises India's three-row SUV battle: Variants explained
📝 Mahindra Rolls Out Bolero Neo+ at Rs 11.39 lakh
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Electric-Cars / SUVs
📝 Peculiar case of VinFast: Financial loss narrows despite sales slump. Here's how
📝 Tata Curvv EV is nearing launch: Key expectations
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⛟ Commercial Vehicles
First batch of Switch IEV4 eLCVs arrives in Delhi for e-mobility tech platform MoEVing
New Delhi: Switch Mobility Ltd (Switch), a part of the Hinduja Group and a global manufacturer of electric buses and light commercial vehicles, has inked an agreement with MoEVing, India's premier electric mobility technology platform, to deliver over 2,500 Switch IeV4 eLCVs for the logistics sector.
India-made Daimler’s electric mini truck to hit the road soon
India will be host to German trucking giant Daimler’s only electric vehicle plant outside of Europe and Japan when it launches a locally-made electric light cargo truck in FY25.
Daimler Truck to enter Indian LCV market with eCanter; bets on BEV and Hydrogen tech for future trucking
Chennai: Daimler India Commercial Vehicles (DICV) is set to be the next player in the emerging electric truck market, with the eCanter, an electric light duty truck from Mitsubishi Fuso, also owned by Daimler Truck. The e-truck, which will also mark DICV’s foray into India’s Light Commercial Vehicle (LCV) segment, will be launched in the market within the next 6 to 12 months.
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🏍 2/3 Wheelers
Aprilia RS660 vs Tuono 660 — Similarities and differences explained
With the launch of the Aprilia RS660 and the Tuono 660, India gets two new middleweight motorcycles. The former is a super sport while the latter is a street naked and both motorcycles are based on the larger RSV4 and Tuono litre-class motorcycles.
Piaggio celebrates 140th anniversary with special edition Vespa scooter
Vespa is an iconic scooter brand which has its presence all across the globe. In India too, the Italian company has existed for many decades mostly through partnerships with local OEMs but as an independent company since the past one decade. Vespa’s parent company, Piaggio, is marking its 140th anniversary globally.
TVS Ronin Roars into Guatemala: India’s Motorcycle Marvel Hits Central American Roads
TVS Motor Guatemala made a big move by introducing its latest motorcycle, the TVS Ronin, on April 12, 2024, showcasing India’s growing influence in Guatemala’s automobile industry.
TVS Motor secures top position in JD Power 2024 India 2W IQS and APEAL Study
New Delhi: TVS Motor Company (TVSM), a leading global automaker that operates in the two and three-wheeler segments, has excelled in the JD Power 2024 India Two-Wheeler Initial Quality Study.
Triumph India unveils exclusive MY24 Tiger 900 range adventure motorcycles
New Delhi: Triumph Motorcycles, on the occasion of completing 10 years in India, has unveiled the MY24 Tiger 900 range. The new lineup includes the Tiger 900 GT and the Rally Pro.
Aprilia RSV4, RS660, Tuono 660 and Tuareg 660 launched in India
Italian motorcycle maker Aprilia has launched its entire motorcycle portfolio in India, which consists of the flagship RSV4 Factory, RS660, Tuono 660 and Tuareg 660 in India. These motorcycles will be sold as CBUs in India and will be sold through Aprilia’s Motoplex dealerships.
India Yamaha Motor unveils Aerox 155 with smartkey technology
Yamaha Aerox 155 Version S launched with smart key
The Financial Express
📝 2024 Aprilia RS 660 and Tuono 660 launched in India, priced at ₹17.44 lakh
📝 Bajaj Auto Q4 results preview: PAT likely to grow 29% YoY, revenue growth seen at 24%
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🚲 Electric 2/3 Wheelers
Wardwizard Innovations dispatches 3,817 EVs in March 2024
New Delhi: Wardwizard Innovations & Mobility Limited, one of the leading manufacturers of electric vehicles under the brands 'Joy e-bike’ and ‘Joy e-rik’ dispatched 3,801 units of electric two-wheelers and 16 three-wheelers in March 2024.
App for buying EVs launched
📝 Raptee rolls out its first batch of electric motorcycles
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⚙ Components
Indian auto OEMs lag in JIT implementation in supply chain: Vector Consulting
New Delhi: Vector Consulting Group, a leading management consulting company, has unveiled a research-based report on the Indian auto manufacturing industry’s implementation of Just-In-Time (JIT), an inventory management practice.
Remsons bags Rs 30 crore order from Tata Motors for winches
Mumbai-headquartered Remsons Industries, a leading supplier of cables and shifters for automotive industry has bagged the fourth order from Tata Motors for the supply of winches used for spare wheel.
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🌇 Allied Industries
Global sales of BEVs still far away from justifying high investments: Mahle Group CEO
New Delhi: The sales of battery electric vehicles (BEVs) are still far away from justifying the high investments, which we, like many others, are making in this area of technology, said the top company official of the German Tier-1 supplier Mahle Group.
JK Tyre bolsters retail network with it's new brand shop in Tamil Nadu
The new outlet is the 22nd brand shop in Tamil Nadu and it is located on the State Highway 142 on the Perambalur-Thuraiyur Road.
📝 Apollo Tyres gets INR 2.06 cr tax demand
📝 Domestic finished steel consumption grows 13 pc to 136 MT in FY24: SteelMint
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🌢 Fuels, Lubricants & Charging Stations
📝 India's crude oil import bill drops 16% but import dependency hits new high
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💸 Finance & Insurance
📝 Why you should renew your car insurance policy on time?
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📖 Magazines News
Yamaha Aerox Version S launched at Rs 1.51 lakh; gets keyless ignition
Source Credit: Autocar India
Yamaha has launched the Aerox Version S at Rs 1,50,600 (ex-showroom, Delhi) and this variant gets keyless ignition.
Nissan Qashqai facelift revealed
Source Credit: Autocar India
The Nissan Qashqai has received a bold new look to bring it in line with the electric Ariya and boost its efficiency. The popular SUV, which was the UK’s bestselling car in 2022 and the runner-up in 2023, has been reworked with sharper lines and an aggressive new face inspired by Japanese samurai helmets.
Maruti tops export chart in FY2024; Hyundai, Kia follow
Source Credit: Autocar India
Maruti Suzuki led passenger vehicle (PV) exports in FY2024 with 2,80,712 units shipped to foreign countries, registering a YoY growth of 10 percent. A total of 6,72,105 cars, utility vehicles and vans were exported overseas in FY2024, up 1.4 percent on FY2023’s 6,62,703 units.
Mahindra XUV 3XO to get major feature upgrade over XUV300
Source Credit: Autocar India
Mahindra has teased the XUV300 facelift – now called the XUV 3XO – yet again, confirming that the upcoming compact SUV will be feature-rich. This is the third teaser Mahindra has released of the 3XO.
Kia Clavis to get panoramic sunroof, ADAS
Source Credit: Autocar India
Kia’s upcoming compact SUV, which is said to slot between the Sonet sub-four-metre SUV and the Seltos midsize SUV, has been spied testing in India again. The new spy images from Hyderabad confirm a number of features and design details that will be available with the SUV.
Force Gurkha 5 door to get 7 seat layout
Source Credit: Autocar India
In the run up to the launch of the Force Gurkha 5-door, new details regarding the upcoming SUV's interiors have surfaced: it has a seven-seater layout.
Honda previews three new EVs ahead of Beijing show debut
Source Credit: Autocar India
Honda has announced a new series of electric cars for China, three of which will be displayed at the Beijing motor show next week. Another three EVs will join them to complete the Ye Series, and all six will enter the Chinese market by 2027.
New Citroen C3 Aircross for Europe teased ahead of April 18 debut
Source Credit: Autocar India
Citroen has released a teaser of the new C3 Aircross for Europe ahead of its debut tomorrow. The C3 Aircross sold in Europe is based on the same platform as the India-spec model, however, features a completely different design.
Read More >>
📰 International News
Volkswagen to roll out new architecture with Xpeng to cut China EV costs
Volkswagen AG said on Wednesday it has developed a new architecture for intelligent and electric cars with its Chinese partner Xpeng , which the German automaker said will help it offer more affordable EVs in its biggest market.
Toyota recalls Prius cars, halts orders due to door handle fault
Toyota Motor has recalled more than 135,000 Prius hybrid cars in Japan and suspended taking new orders for the model due to a problem with rear door handles.
How Amazon became the largest private EV charging operator in the US
Amazon’s Maple Valley, Washington, warehouse is built for speed. At night, big rigs pull up to one end to unload boxes and padded mailers – some after a short drive from a bigger warehouse down the road, others following a flight in the hold of a cargo plane. Waiting employees scan, sort and load them into rolling racks.
Ford motors recalls over 456,000 cars due to loss of drive power risk
Source Credit: AP, Business Standard
New York: Ford is recalling more than 4,56,000 Bronco Sport and Maverick vehicles due to a battery detection issue that can result in loss of drive power, increasing crash risks.
Tesla asks investors to approve Musk's $56 bn compensation package again
Tesla Inc. will ask shareholders to vote again on the same $56 billion compensation package for Chief Executive Officer Elon Musk that was voided by a Delaware court early this year.
📝 China's BYD unveils three new models for its off-road Fangchengbao lineup
📝 Tesla's global job cuts hit China sales team, sources say
📝 Shareholders approve pay package of Stellantis CEO
📝 Warning signs for Tesla as EVs surge
📝 Tesla's latest layoffs include 14% of workers from this plant
📝 EU's new auto cybersecurity rules spark model axings & surveillance concerns
📝 Rivian cuts its 1% workforce in second round of layoffs this year
📝 This Mercedes X BYD EV Aims to captivate enthusiasts worldwide. Check details
📝 Right-hand drive Hummer EV a reality? UAE-based company will make one for you
📝 Tesla boat-mode? Model Y EV seen wading through flood in Dubai
📝 Volkswagen to invest $210 million in South Africa. Check details
📝 New AI eye-tracking tool reveals world's most attractive cars. And the worst
📝 Fear mounts over Japanese EV makers as Canada tightens tax incentives
📝 Early failure may be powering BMW ahead of rivals in the electric car game
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