Top Indian Automobile Industry News & Updates - 26 April 2024,Friday
🏢 Industry
MG Motor India installs 500 EV chargers in 500 days
New Delhi: MG (Morris Garages), a British automobile brand, has set up 500 chargers in 500 days under its MG Charge initiative in India.
India seeks overseas help for lithium processing to avoid relying on China: Report
India is in talks with several countries seeking partnerships for technical help on lithium processing, said four sources familiar with the matter, to bolster its nascent lithium mining and electric vehicle industries and avoid relying on China.
Need improvement in semiconductor design incentive scheme: ICEA
India Cellular and Electronics Association (ICEA) on Thursday said there is a need for improvement in the semiconductor design-linked incentive (DLI) scheme, so that the country’s own intellectual properties (IPs) can be created.
Hyundai Group’s CEO reviews India expansion & conducts first townhall meeting outside Korea
Chennai: Hyundai Motor Group’s CEO Euisun Chung visited India on Tuesday to review the Group’s mid-to-long-term future strategies, as the South Korean automaker is expanding in the country to increase production capacity and produce electric vehicles, while also planning to enter the capital market.
Mahindra Logistics hopes Rivigo can deliver a swift turnaround
Mahindra Logistics Ltd, an integrated third-party logistics (3PL) provider, reported healthy numbers during the March quarter (Q4FY24), delivering a pleasant surprise on revenue growth and sequential margin recovery. Consolidated revenue grew 14% year-on-year (yoy) to ₹1,451 crore in the quarter. Ebitda margin came in at 3.9%, down more than 100 basis points yoy but up 20 basis points sequentially.
📝 Tata Motors files 222 patent applications and secures 333 patents in FY24
📝 Hyundai to rev up India capacity to tap rising demand
📝 Large utility vehicles race past compact cars in growth lane
📝 Hyundai plans to scale up production capacity, introduce more EVs in India
📝 Tesla likely to postpone India plan
📝 India sells more cars in few hours daily than what Pakistan sells in a month: Details
📝 Hyundai doubles down on India & hybrids post weak performance on home ground
📝 New MINI Aceman breaks cover as quirky electric crossover, packs 406 km range
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🎤 Interviews & Features
2024 Jeep Wrangler review: A no nonsense ‘Go Anywhere’ SUV
When it comes to off-roading there are only a handful of vehicles that truly do justice to the “go anywhere” attitude. And the Jeep Wrangler probably sits on top of the list. But I have always wondered why the Wrangler has been hyped so much. Well, I now understand why.
Your voice is my command
The road ahead is endless and car brands are keeping up with the technology for it. With the evolution of digital dashboards, customers are set for an immersive experience.
From 2005 to 2021: Here’s how Maruti Swift evolved through advertisements
Maruti Swift has been an iconic model for the Indian car market even though it made its debut less than two decades ago. The small hatchback has gained cult status in the country for many different reasons. Be it performance, comfort or fuel efficiency, Swift has made its mark in almost every aspect of passenger vehicles.
Auto is turning into the next BFSI for India’s IT services
📝 Data centres, EVs and green hydrogen to create upside for long-term power demand growth: Nikhil Nigania
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🚗 Cars / SUVs
Tata Motors launches innovative Harman Ignite Platform in its passenger vehicles
New Delhi: Tata Motors, India’s leading automobile manufacturer, has selected the Harman Ignite Store as its in-vehicle app store, bringing easily accessible, reliable and safe mobility experiences to more customers.
Jeep Wrangler facelift launched at INR 67.65 lakh
New Delhi: Jeep India Thursday unveiled 2024 Jeep Wrangler, with an unmatched combination of off-road capability, authentic Jeep design, open-air freedom, advanced powertrain, superior on- and off-road dynamics and a host of innovative safety and advanced technology features.
Hyundai Motor Group Executive Chair Euisun Chung visits India; reviews long-term mobility strategies
New Delhi: Hyundai Motor Group (the Group or HMG) Executive Chair Euisun Chung visited India. He conducted an in-depth review and engaged in detailed discussions on Hyundai Motor Group’s mid to long-term strategies in India at the new Hyundai Motor India Headquarter Delhi office in Gurugram.
📝 Maruti Suzuki Q4 Preview: PAT may rise 52% YoY on higher sales, strong volumes
📝 2024 Jeep Wrangler first-drive impressions: More refined yet typically rugged
📝 Upcoming popular cars in India: Next-gen Maruti Swift, Mahindra XUV 3XO and more
📝 Mahindra XUV 3XO interior and fuel-efficiency revealed: Teased again
📝 Are 'true SUVs' the new craze among Indian consumers?
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Electric-Cars / SUVs
Hyundai India to have 5 new EVs by 2030, launch first electric SUV in 2024
The Chennai plant will build the company’s first electric sports utility vehicle by the end of 2024. The company earlier planned to introduce five EVs by 2032. Hyundai India and Kia recently signed an agreement with Exide Energy Solutions to pursue the local production of batteries for EVs.
Hyundai and Kia to launch first India-made EVs by 2025, aiming for greater footprint in local market
Hyundai Motor Group, encompassing Hyundai and Kia, announced plans to launch their first India-manufactured electric vehicles (EVs) by 2025, marking a significant step in their efforts to strengthen their foothold in India's growing EV market, currently led by Tata Motors.
📝 First made-in-India Hyundai electric car to launch in 2025, likely the Creta EV
📝 Hyundai sets sights on India for strategic growth. Reveals production & EV plans
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🚗 Luxury Cars
BMW i5 M60 xDrive launched in India at INR 1.19 crore
New Delhi: BMW i5 was launched in India on Thursday and will be available as an exclusive BMW M Performance model, BMW i5 M60 xDrive. It is available at an ex-showroom price of INR 1,19,50,000.
Audi India to increase prices by 2% across models from June 1, 2024
New Delhi: Audi, the German luxury car manufacturer, Thursday announced a price increase of up to 2% across its model range due to rising input and transportation costs. The price hike will be effective from June 1, 2024,
India-bound all-electric Mercedes Benz G-Wagon breaks cover ahead of Beijing Motor Show
Mercedes-Benz has finally taken the covers off the production-spec all-electric G-Wagon ahead of its official debut at the 2024 Beijing Motor Show. Officially christened as G 580 with EQ Technology, a pre-production concept of the same— called EQG— was showcased at the Bharat Mobility Expo in New Delhi, earlier in February this year.
📝 India-bound Audi Q6 e-tron electric SUV gets a long wheelbase version for China
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⛟ Commercial Vehicles
Ashok Leyland builds in-house software team for future M&HCVs, plans major ramp up
New Delhi: Softwarisation is one of the two major trends (decarbonisation is the other) that redefines technology roadmaps of vehicle OEMs. Both the trends together are keeping engineers in commercial vehicle major Ashok Leyland’s technical centre in Chennai busier than ever before.
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🏗 Construction & Agri Machinery
Sany Heavy Industry India sales, service office opened in Rayagada, Odisha
New Delhi: Sany Heavy Industry India Pvt Ltd, a leading global provider of construction machinery and equipment, has announced the opening of Raghunath Machinary head office in Rayagada, Odisha.
India needs policy push to harvest benefits of e-tractors
New Delhi: Even though a record 1.66 million electric vehicles (EVs) were sold in India in FY24, according to the Ministry of Road Transport and Highways, only four were classified as agricultural tractors. Two-wheelers and three-wheelers made up for 94% of all EVs sold in FY24, though sales of electric cars and buses increased approximately 90% and 75%, respectively, over FY23.
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🏍 2/3 Wheelers
Six new Pulsars, mass market e-Chetak, world’s first CNG bike: Bajaj Auto lines up many new launches this fiscal
New Delhi: Bajaj Auto is on the prowl for a better grip on both, the domestic and export two-wheeler pie. Lined up for launch this fiscal are a variety of two-wheelers across ICE and electric segments: a world first CNG motorcycle which could slash the fuel expenses of buyers by half, a mass market Chetak electric scooter, and six new models of the Pulsar. After all, the company’s stated objective is to continue driving top line growth without diluting profitability.
📝 2024 Bajaj Pulsar NS400 teased, will come with USD forks & dual-channel ABS
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🚲 Electric 2/3 Wheelers
Ultraviolette to scale up, looks to achieve cash flow breakeven this year
Bengaluru: As the electric motorcycle maker Ultraviolette Automotive is in its second year in the market, it plans to expand its retail presence outside of its home city and foray into new markets overseas.
📝 Ultraviolette eyes global leadership in electric motorcycle market in five years
📝 Okaya EV 'Disruptor' electric motorcycle bookings open: 129 km range, 25 paise per km running cost
📝 Ultraviolette F77 Mach 2 launched in India at Rs 2.99 lakh with 323 km range: Changes explained
📝 Ultraviolette to widen network with 17 new outlets, to enter 5 markets in Europe in 2024
📝 Ultraviolette F77 Mach 2 launched. Check what's new
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⚙ Components
Pavna readying new plant in Hosur for TVS Motor, Ola Electric
Right now, Pavna Industries supplies these parts from its decades-old Aligarh plant in Uttar Pradesh. With an expansion of its two-wheeler clientele beyond Bajaj Auto, to whom it has been supplying for many years now, the company believes Hosur will have a critical role to play in the future.
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🌇 Allied Industries
Tech Mahindra Q4 results: Net profit declines 41% to Rs 664.2 crore, announces annual dividend of Rs 28/share; Here are all other details
Tech Mahindra has reported a net profit of Rs 664.2 crore, a decline of 41% in the fourth quarter of FY24, compared to Rs 1,125 crore recorded in the same period a year ago.
Lohum eyes $100 mn funding to grab a slice of global EV battery pie
Mumbai: Singularity Growth-backed battery tech startup Lohum aims to raise $100 million from both existing and new investors at a valuation of $600-650 million, according to two people familiar with the company’s plans.
Common car maintenance scams to avoid
Maintaining a car seems to be simple, drop it off at the service centre periodically or when there’s a service reminder. However, some extra maintenance is required at times, and when the vehicle is dropped off for such work, an unexpected bill arises.
ARAPL RaaS Appoints Jerry Kurian as independent software evaluator
Affordable Robotic & Automation Ltd. (ARAPL), a leading provider of robotic automation solutions, Thursday appointed Jerry Kurian as an independent evaluator for its subsidiary, ARAPL RaaS’.
📝 ICAT partners with Twin Health for sustainability, staff wellbeing
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🌢 Fuels, Lubricants & Charging Stations
📝 Oil eases as US demand concerns outweigh fears over Middle East conflicts
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💸 Finance & Insurance
📝 Bajaj Finance profit rises 21%; asks RBI to review restrictions
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📖 Magazines News
Ampere Nexus electric scooter launch on April 30
The long-awaited Ampere Nexus will be launched in India on April 30. The Nexus is going to be the flagship model in the Ampere lineup and will pack in many firsts for the company.
Jeep Wrangler Rubicon facelift review: The OG SUV
The Jeep Wrangler is to off-roaders what the Porsche 911 is to sportscars. An icon evolved over time but centred on its iconic design and stellar capabilities. So, for the 2024 update, Jeep hasn’t changed the formula, it’s merely spiced it up a bit; specifically its off-road capabilities, which is why the drive was held at a forest resort with over 1,800 acres of natural habitat. Rocks, cliffs, rivers and trails, it doesn’t get more ‘Jeep’ than this.
Updated Bajaj Pulsar 220F launched at Rs 1.40 lakh
The Bajaj Pulsar 220F was briefly discontinued and replaced by the all-new Pulsar 250F. However, the cult following and demand for the Pulsar 220F was so great that Bajaj was compelled to reintroduce the motorcycle earlier last year. Bajaj updated the rest of its motorcycles in the meantime and now an updated Pulsar 220F has been spotted at a dealership before its official launch.
Mahindra XUV 3XO interior revealed in new teaser
Mahindra has been drip-feeding details about the upcoming XUV300 facelift (XUV 3XO) and latest set of teasers have revelaed the new dashboard, confirming a major design overhaul for the SUV's interior.
BMW i5 launched at Rs 1.20 crore
BMW India has launched the i5 in the country, priced at Rs 1.20 crore, ex-showroom, India. The i5 has been brought to India via the CBU route, and only in top-spec M60 xDrive form. The electric sedan slots between the i4 (Rs 72.5 lakh) and i7 (Rs 2.03 crore-2.5 crore) in BMW India's line-up. With the launch of the i5, BMW has five EVs on sale in India, including the iX1, iX xDrive50, i4 and i7; the flagship electric sedan is also available in i7 M70 xDrive guise. Bookings for the i5 had opened on April 4.
Bajaj Pulsar N160 updated with USD fork
Bajaj has updated the Pulsar N160 once again in the span of just a few short months, and this time around, it gets a USD fork. This champagne gold unit appears to be the same as the updated Bajaj Pulsar N250, although the internal tuning could be different.
Made-in-India Kawasaki Versys-X 300 to launch this year
A couple of months back, we shared images of the Kawasaki Versys-X 300 on test in India. It was strange to see the bike in camouflage as it had already been on sale in India before BS6 regulations arrived in 2020. Well, we can now confirm that Kawasaki has in fact been working on localising the Versys-X 300 for our market, and that this bike will be launched by the end of 2024.
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📰 International News
Tesla jumps as Musk's promise of 'more affordable' cars eases growth fears
Tesla shares surged about 10% on Wednesday after the electric-car maker eased some worries about slowing growth with a prediction that sales would rise this year and plans to roll out more affordable models in early 2025.
Three Stellantis plants halted due to strike at supplier
Production at three Stellantis assembly plants in Europe has been stopped for several days due to a strike at a plant run by supplier MA France, a spokesperson told Reuters.
Hyundai Motor’s net profit dips 1.3% in Q1, 2024
New Delhi: Hyundai Motor Company Thursday said in the first quarter of 2024 its revenue increased 7.6% year-over-year to KRW 40.66 trillion, its highest first-quarter revenue.
MatchLog Solutions raises USD 1.5 mn in pre-series A funding round
MatchLog Solutions, a sustainable container logistics and supply chain optimization player, Thursday said it has closed USD 1.5 million in pre-series A funding round. The round was led by Motion Ventures and July Ventures, with participation from Venture Catalysts, Blue Ashva Capital, and Capital A.
Toyota and Nissan pair up with Tencent and Baidu for China AI arms race
Japan's Toyota Motor will pair up with China's Tencent while Nissan will team up with Baidu, the companies said on Thursday, cross-border partnerships that highlight the importance of artificial intelligence for carmakers.
Electric cars and digital connectivity dominate at Beijing auto show
Global automakers and EV startups unveiled new models and concept cars at China's largest auto show on Thursday, with a focus on the nation's transformation into a major market and production base for digitally connected, new-energy vehicles.
Xiaomi locks in over 75,000 orders for SU7 car, targets over 10,000 deliveries in June
Chinese smartphone maker Xiaomi has locked in 75,723 orders for its sporty SU7 electric sedan as of April 24, and aims to deliver over 10,000 units in June, founder Lei Jun said on Thursday.
Chinese EV startup Nio sets starting price for new version of ET7 sedan
Chinese electric vehicle (EV) startup Nio has set the starting price of the new version of its ET7 sedan at 428,000 yuan (USD 59,063), its chief executive said on Thursday.
Chinese EV battery maker CATL unveils LFP battery with 1,000 km range
Chinese electric vehicle (EV) battery maker CATL on Thursday unveiled a lithium iron phosphate (LFP) battery with a driving range of more than 1,000 kilometres (621 miles) on a single charge.
Tesla faces an identity crisis: carmaker or tech firm?
On the night before Elon Musk unveiled Tesla’s first-quarter results on April 23rd, your columnist brought his car to a halt, noticing a futuristic vehicle hooked up to a Tesla charging station in Los Angeles. It was a dark-purple Cybertruck. Twinkling lights glittered behind the tinted windows. It looked so wedgelike, angular and otherworldly that it could have moonlighted as an armoured personnel carrier in “Civil War", a new apocalyptic film.
Toyota hits record annual output, sales on account of robust demand
For the year ended March, Toyota said its parent-only global sales rose 7.3 per cent to 10.31 million units year-on-year, surpassing the 10 million mark for the first time, while its output came to 9.97 million units, up 9.2 per cent on the year.
📝 Tesla surges on new auto announcement, lifting Nasdaq
📝 China's BYD seeks to redefine luxury for the EV generation
📝 XPeng CEO says its software, AI upgrades to enter 'super fast cycle'
📝 Volkswagen aims to maintain 15% market share in China in 2030, country chief says
📝 Car giants vie for EV crown at Beijing's Auto China show
📝 Land Rover Defender Octa to be officially unveiled on 3rd July
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