Top Indian Automobile Industry News & Updates - 18 Dec 2024,Wednesday
🏢 Industry
EV launches in India to double in 2025, SUVs dominate new lineups
to 20 EV launches in the coming year, doubling from a modest seven to eight in 2024. While industry leaders such as Maruti Suzuki, Tata Motors, Mahindra & Mahindra, Hyundai, and MG Motors are getting ready to roll out their wide range of EV models in the new year, luxury car makers are moving in that direction too. Many of these EVs are likely to be SUVs.
ETAuto EV Conclave 2024: A robust charging infrastructure, key to accelerating EV adoption
The installation of EV charging infrastructure is projected to grow at a CAGR of 44.1% from 2022 to 2030, while the global EV market is expected to grow at a CAGR of 21.4% during the same period. To support the increasing adoption of electric vehicles (EVs) in India, establishing a robust EV charging network is critical.
M&M amazed the world by becoming the World’s 11th largest automaker: Anand Mahindra
New Delhi: When India started as an independent automaker, the world believed that there was very little chance of survival, said Mahindra Group Chairman Anand Mahindra on Tuesday.
Big plans for India! Lubrizol- a Berkshire Hathaway firm to double business in 5 years, hire 250 more
Lubrizol Corporation, a Berkshire Hathaway company and a specialty chemical firm has big plans for India. Close on the heels of its $350 million investment in the country, the company specialising in delivering sustainable solutions aims to double its business in India over the next five years and actively expanding its global capability center in Pune. After recently hiring 100, its targets absorbing another 250 to the 600-strong employee base in India
Assurance Intl appoints Sandeep Mahajan as Executive Chairman for driving innovation and growth
Assurance Intl Limited has appointed Sandeep Mahajan as its new Executive Chairman. Mahajan brings over 35 years of experience, having worked with prominent companies such as Tata Steel, Hindustan Unilever, LG Electronics, and Goodyear. His appointment signals a new phase of growth and innovation for the company. He aims to leverage his extensive background in sales, marketing, and financial management to drive the company's global expansion.
Switch Mobility to participate in PM E-DRIVE e-Ambulance category: CEO
Switch Mobility, the electric vehicle arm of the Hinduja Group (Ashok Leyland), has said that it will ‘explore’ the e-Ambulance market as well as e-trucks, to be part of the Prime Minister Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) scheme.
📝 Auto industry on track to achieve target of Rs 25,000 crore import cut
📝 LG Energy Solution, India's JSW discuss $1.5 bn battery venture, sources say
📝 EV sales up 25.64% from last year: MHI
📝 Women add momentum to the Indian auto industry's drive. But gender gap persists
📝 Athera Venture Partners HDFC AMC backing for Rs 900-crore Fund-IV
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🚗 ICE Car/SUV
Stellantis to hike prices of Jeep, Citroen models from Jan
New Delhi: Automaker Stellantis India on Tuesday said it will increase prices of Jeep and Citroen models by up to 2% from January.
Maruti Suzuki Grand Vitara 7-seater spotted testing: What all to expect
Maruti Suzuki is reportedly gearing up to launch a 7-seater version of its well-received Grand Vitara SUV, with test mules already spotted on Indian roads.
Maruti Suzuki clocks 2 million production units in calendar year for first time
Maruti Suzuki continues to set new benchmarks in the Indian passenger vehicle market. Although the Indo-Japanese carmaker doesn’t hold an overwhelming 50 percent of the market share anymore, it remains the highest-selling carmaker in the country by a distant margin.
Kia India initiates Scrappage Incentive program to promote sustainable mobility
Kia India has launched a Scrappage Incentive program to promote sustainable mobility and encourage customers to replace their old vehicles with new, more fuel-efficient Kia models. The program offers incentives across Kia's entire lineup and provides a financial advantage for customers who participate. This initiative aligns with the company's commitment to reducing its environmental impact and supporting responsible vehicle recycling.
Skoda Auto India hikes vehicle prices by up to 3 pc
Skoda to hike prices by up to 3% in 2025
The Financial Express
Construction work at Kharkhoda plant in progress, to be operational by 2025: Maruti Suzuki
Maruti Suzuki India Limited (MSIL) has said that work at its Kharkhoda (Haryana) site is progressing and the first plant with an annual capacity of 2.5 lakh units is expected to start operations in 2025.
📝 Auto recap, Dec 16: Kia Syros teased again, vehicle ban returns in Delhi
📝 Slavia, Kushaq to get costlier from January as Skoda announces price hike. Here's how much they will cost
📝 Kia Syros new design details teased, debuts on December 19: What to expect
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Electric Car/SUV
Hyundai Creta EV launch on Jan 17: Here’s what we know
It is no big secret that Hyundai has been working on a fully-electric Creta for a couple of years now. Prototypes of the battery-powered SUV have been spotted testing on numerous occasions over the past few months. The Korean carmaker recently confirmed that the upcoming Creta EV will be breaking covers at Bharat Mobility Expo 2025.
📝 Mahindra XEV 9e vs Hyundai Ioniq 5 vs BYD Atto 3: Which premium electric SUV deserves your attention
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🚗 Luxury
Porsche Taycan recalled in India over battery issues
Porsche has recalled the Taycan in India, however, the company has yet to make an official statement. The recall affects 176 units of the Porsche Taycan due to a possible defect with the battery module. The electric sedan owners are advised to call the nearest Porsche outlet for the fix and more details.
Lexus drives 17% sales growth in India
Lexus India has reported a year-on-year sales growth of 56 per cent for the month of November 2024, as compared to November 2023.
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⛟ Commercial Vehicles
bp Ventures invests USD 9 million in Zingbus to transform e-mobility travel in India
Zingbus offers a digital platform that includes pricing, fleet management, route optimisation services, and a ticketing marketplace. The company aims to make intercity travel more accessible and reliable, addressing issues like unsafe boarding points and unreliable service. This investment aligns with the Indian government's goal of a 100% electric bus fleet by 2030.
60k commercial vehicles fined INR 5 cr for changing lanes on e-ways this year
Traffic cops have issued fines to more than 58,000 vehicles for improper lane changes on the city's speedways, collecting over INR 5 crore in penalties through this year.
Tata Motors bags order for 1,297 bus chassis from UPSRTC
New Delhi: Tata Motors on Tuesday said it has won an order for 1,297 bus chassis from Uttar Pradesh State Road Transport Corporation (UPSRTC). This marks the third order for the auto major from UPSRTC in a year, with a cumulative order size of over 3,500 units, Tata Motors said in a statement.
Magenta Mobility announces expansion in 4-wheeler EV Cargo segment
Magenta Mobility announced expansion of electric cargo four-wheelers, with a fleet of over 500 vehicles. The company is changing urban and intercity logistics while focusing on sustainable and efficient transportation.
About 45% of VECV’s R&D budget allocated to new energy vehicles, says VECV’s Rajinder Singh Sachdeva
<p>Rajinder Singh Sachdeva, Deputy CEO & CTO of Volvo Eicher Commercial Vehicles</p>Rajinder Singh Sachdeva, Deputy CEO & CTO of Volvo Eicher Commercial Vehicles
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🎤 Interviews & Features
📝 Best time to buy a Jeep or Citroen SUV? Carmakers announce price hike from January
📝 US mandates alarms if rear passengers don't buckle up. But what's it like in India?
📝 Considering 2024 Honda Amaze? Here’s why the VX variant might be your best choice
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🏗 Construction & Agriculture
Tata Steel UK signs pact with JCB to supply green steel
JCB, which maintains a close focus on carbon reduction in its manufacturing and equipment, will integrate the steel into its machinery range. This is the first supply agreement Tata Steel UK has made since announcing the £1.25 billion joint investment with the UK Government to transition to high-quality, low-CO2 steel production in South Wales.
Coromandel and Mahindra partner to expand drone spraying services for Indian farmers
Coromandel International Limited and Mahindra & Mahindra's Krish-e have partnered to expand drone spraying services for Indian farmers. This collaboration aims to increase accessibility to Coromandel’s Gromor Drive services through Mahindra’s ‘Krish-e Kheti Ke Liye App.’
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🏍 EV/ICE Two Wheelers
How to own a Royal Enfield without breaking the bank?
Royal Enfield announced the expansion of its pre-owned motorcycle business, Reown, available in 236 cities across India. Customers and Re enthusiasts can now easily sell their old motorcycles and upgrade to a new Royal Enfield. Launched in 2023 in select cities, Reown is a transparent platform for buying and selling pre-owned Royal Enfields.
From classic to adventure: 4 Royal Enfield 650cc bikes to watch out for in 2025
If you thought 2024 was a busy year for Royal Enfield, buckle up because 2025 is about to take things up a notch. The iconic two-wheeler maker is set to launch four 650cc motorcycles, including three brand-new models and an updated version. Currently, Royal Enfield has five 650cc bikes in its lineup—the Interceptor 650, Continental GT 650, Super Meteor 650, Shotgun 650, and Bear 650. All of these, old and new, will be powered by the same 648cc parallel-twin engine, delivering 46.3 bhp and 52.3 Nm of torque. Here’s a sneak peek at the upcoming models.
Top interesting motorcycles of 2024: From Himalayan to Pulsar N125
2024 has been an amazing year for motorcycle enthusiasts in India with the launch of a few special two-wheelers. Be it from the humble Pulsar N125 commuter to the full-blown BMW R 1200 GS. There have been so many more in the middle as well, and here are our top choices for interesting motorcycles we’ve ridden in 2024 in every segment.
📝 Hero XPulse 200 4V Pro Dakar Edition launched in India, priced at ₹1.67 lakh
📝 2024 Bajaj Chetak to launch this week. Price, features, range expected
📝 Here's how you can buy your dream Royal Enfield at budget-friendly prices
📝 Royal Enfield launches exclusive apparel brand store in Gurugram
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⚙ Components
French auto parts supplier Valeo bets on India EV transition even as demand cools
New Delhi: Growing adoption of electric vehicles (EVs) in India is unlocking opportunities for the Indian arm of French auto parts supplier Valeo to increase revenue per vehicle, according to a top company executive, even if sales have temporarily slowed for one of its top customers in India.
Valeo looks to leverage electrification trend for revenue boost in India
New Delhi: As the automotive industry transitions towards electric mobility, French automotive supplier Valeo is aiming to leverage electrification as a key strategy to drive growth in its revenue, Francois Marion, Executive Committee Member of the company, said.
Carraro India IPO size cut as owners not happy with valuation
Mumbai: Automotive components maker Carraro India’s initial public offer size was cut by a third to ₹1,250 crore after its promoters were dissatisfied by the valuation, the company’s bankers said at a press conference.
📝 Carraro India IPO price band set at Rs 668-704. Check details
📝 Coromandel Intl, Mahindra Krish-e partner for drone spraying services
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🌇 Allied Industries
TVS Electronics plans long term EMS play
TVS Electronics plans to expand its electronics manufacturing services (EMS) division to bring it at par with its product and solutions division, senior executives from the Tumakuru, Karnataka-based company said in an interaction with Mint. The products and solutions division currently contributes about 70% of its overall revenues.
BluSmart’s asset leasing initiative crossed Rs 100 crore
The EV charging network, BluSmart announced that its asset-leasing initiative, Assure by BluSmart has surpassed Rs.100 crore. The company claims that the program has grown ten times in monthly scale of financing, in the first year of its launch and has onboarded more than 25 large partners.
Classic meets modern: Steelbird launches retro-inspired helmets
Steelbird Hi-Tech India has added another feather to its cap by launching a range that is vintage-inspired. The new lineup is available in three models — SBH-54, SBH-55 and SBH-56. The vintage series starts from Rs 959 to Rs 1199.
Tata Steel operationalises India’s first all-women shift at J’’khand iron mine
Jamshedpur: Tata Steel has operationalised an all-women shift at its Noamundi iron mine in Jharkhand's West Singhbhum district, an initiative introduced in the country for the first time, a company statement said.
Exide Industries infuses Rs 100 crore in Exide Energy Solutions
Exide Industries on Tuesday announced that it has invested around Rs 100 crore in its wholly owned subsidiary, Exide Energy Solutions Limited (EESL) by way of subscription in the equity share capital on rights basis. With this, the total investment, as on date, made by the company in EESL now stands at Rs 3152.24 crore, including investment made in erstwhile merged subsidiary Exide Energy Private Limited
📝 Quality compliance certificates for Chinese steelmakers soon
📝 Auto Axles shareholders reject proposed deals with affiliate
📝 Looking for a helmet to match your retro-modern style motorbike? Here's one that will cost you just under ₹1,000
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🌢 Fuels, Lubricants
Bengaluru Metro stations to have EV battery swapping service soon – All you need to know
The Bangalore Metro Rail Corporation (BMRCL) has partnered with SUN Mobility, an electric vehicle energy services company, to introduce EV battery-swapping facilities for commuters’ vehicles within metro premises, the company announced on Tuesday.
Gulf Oil, Piaggio India renew partnership for lubricants
Gulf Oil and Piaggio have announced the renewal of their strategic partnership agreement for two-wheeler lubricants. This exclusive collaboration, originally signed in January 2020, has now been extended until 2032, reaffirming both organizations’ commitment to delivering high-quality, co-branded lubricants tailored to Piaggio’s two-wheeler range, including their high-performance sports bike and superbike segments.
Godavari to invest INR 130 cr for enhancing ethanol production
Godavari Biorefineries on Monday announced a INR 130-crore investment to enhance ethanol production. The investment will be in a corn/grain-based distillery to further strengthen its ethanol production capabilities, the company said in a statement.
📝 Oil prices drop on soft Chinese spending data
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💸 Finance & Insurance
📝 Shriram Finance close to biggest ECB deal in NBFC space
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📖 Magazines
15 most affordable cars, SUVs with six airbags
Vehicle safety is slowly yet steadily becoming a major aspect to consider while purchasing a new car or SUV. Keeping this in mind, manufacturers have introduced more safety features in recent years. Here’s a list of the most affordable cars and SUVs in India that offer six airbags, either on some variants or as standard across the range.
Toyota Hilux Rangga SUV previews affordable people mover
Toyota has previewed the Hilux Rangga SUV that will go on sale in Indonesia sometime next year. It will be based on the Hilux Rangga pickup. The Hilux Rangga SUVs bodyshell has been made by an aftermarket coach builder but the final product will be sold by Toyota.
Toyota Hyryder accounts for 37 percent of rebadged Maruti sales
Toyota currently sells four rebadged Maruti models in India – Glanza, Hyryder, Taisor and Rumion – and together, they make up as much as 54 percent of Toyota’s total sales in the country. The Hyryder midsize SUV (rebadged Grand Vitara) is the highest selling model, accounting for up to 37 percent of these models.
Porsche Taycan, Audi e-tron GT recalled over battery fire risk
Porsche and Audi India have issued a recall for the Taycan and the e-tron GT and RS e-tron GT, respectively, over a potential defect in the battery module that could cause a fire hazard. As per SIAM, a total of 207 cars were affected, which included 176 Taycans and 31 units of either the e-tron GT or RS e-tron GT.
Maruti achieves production milestone of two million vehicles a year
Maruti Suzuki has hit a new milestone by manufacturing two million vehicles in India in the calendar year 2025. The India arm of Japanese multinational Suzuki Motor Corporation claims to be the country’s only passenger vehicle manufacturer to have achieved this feat. It also boasts to be the first among Suzuki Motor’s global automobile manufacturing facilities to reach this landmark.
Every Indian car, SUV tested by Global NCAP under new protocols
It should be noted that Global NCAP is unlikely to perform more crash tests on made-in-India models as India’s own Bharat NCAP safety assessment programme has been inaugurated and has already begin testing cars. Before the recent test of the fourth-gen Dzire, the Global NCAP had put the older Honda Amaze, the Kia Carens and Mahindra's Bolero Neo through the set of stringent crash tests.
Ather 450 lineup price to increase from January 1
Ather will be increasing the price of the 450S, 450X and 450 Apex models effective January 1, 2025, as confirmed by our dealer sources. This price increase will be in line with the hike on the Rizta.
New car, SUV prices to go up from January 2025
As is the case every year end, several carmakers have announced a price hike across their portfolio effective from January 1, 2025. The key reasons citied for the price revisions are rising commodity and operational costs.
New Toyota Camry vs rivals: price, specifications comparison
Toyota Camry vs rival's dimensions
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📰 International
VW talks drag into the night as union says outcome is 'far from clear'
Volkswagen management and labour representatives negotiated late into the night on Monday in a last-ditch round of talks on cost cuts before Christmas, with unions saying it remained far from clear whether compromise would be reached.
US finalizes USD 9.63 billion loan for Ford, SK On joint battery venture
The U.S. Energy Department on Monday said it has finalized a USD 9.63 billion loan to a joint venture of Ford Motor and South Korean battery maker SK On to help finance construction of three new battery manufacturing plants in Tennessee and Kentucky.
US specialty vehicle maker Shyft to merge with Switzerland-based Aebi Schmidt
Shyft Group and Switzerland-based Aebi Schmidt will merge in an all-stock deal, the companies said on Monday, sending the U.S. specialty vehicle maker's shares up 13%.
Stellantis pledges invest $2.1 million in Italian production in 2025 during talks with government
Milan: The Stellantis automaker will invest 2 billion euros ($2.1 billion) in Italian production next year and spend another 6 billion euros ($6.3 billion) in the supply chain, the head of European operations told a government panel on Tuesday.
We must win back market share, rethink China strategy: Mercedes-Benz labour chief
Mercedes-Benz's works council chief said the carmaker must urgently win back market share and rethink its China strategy so sales did not drop below 2 million a year, which he said would be "unacceptable" to labour representatives.
Lamborghini delays first EV launch to 2029 as market not ready
Italy's Lamborghini will always make cars in Italy as it plans to launch its first electric model only in 2029, amid a market for luxury sports cars which is not ripe for full electrification, CEO Stephan Winkelmann said on Monday.
Trump Team plans massive changes to Biden's EV mandate & China Policy
Incoming US President Donald Trump's transition team is recommending sweeping changes to cut off support for electric vehicles and charging stations and to strengthen measures blocking cars, components and battery materials from China, according to a document seen by Reuters.
Honda and Nissan in merger talks, eye Mitsubishi for expanded alliance: Nikkei report
Honda Motor Co. and Nissan Motor Co. are preparing to start negotiations on a possible merger, which ultimately could be expanded to include Mitsubishi Motors Corp., Japan’s Nikkei reported Tuesday.
Europe's carmakers discount EVs, hike petrol car prices as new emissions rules loom
European automakers are raising prices of petrol cars and readying discounts on electric vehicles as they brace for yet another challenge - tougher emissions rules that threaten to further shrink profits across the struggling industry.
📝 US to require passenger vehicles to sound alarms if rear passengers don't fasten their seat belts
📝 Lanzador, world's first-ever Lamborghini EV, is delayed by a year. Here's why
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