Sector: Auto
Ola gets SEBI warning
SEBI has issued the warning due to violation of the disclosure norms. On December 2, 2024 morning at 9:58 am, Bhavish Aggarwal, the CMD, had shared details of Ola Electric’s plans for a four-fold expansion on social media platform X. Bhavish Aggarwal wrote, “Taking the Electric revolution to the next level this month. Going from 800 … Read more
EV sales zoom 20% to nearly 1L units in 2024 on price cuts
Price cuts towards end of 2024 saw sales of electric cars rise 20%, with the industry’s volumes finishing a shade lower than one lakh units against 82,688 units in the previous year. The growth comes despite doubts about a mass adoption for EVs as customers complain over a poor public charging infrastructure, longevity of battery, … Read more
Sona targets East for growth
Sona currently relies heavily on North America and Europe for 66% of its revenue. India contributes 28%. It’s current focus regions in the West (America and Europe) are plateauing and hence the Company is looking to expand into China, Japan, and South Korea. The targets are all 3 segments – electric, hybrid as well as … Read more
Ceat acquires Camso business from Michelin
Camso is a premium brand in construction equipment tyre and tracks with strong equity and market position in EU and North American aftermarket and OE segments. The acquisition will give CEAT access to 40 global OEMs and broaden its product offering into construction tyres and bias tracks. It’s an all cash deal valued at $225 … Read more
Bajaj Auto leads EV sales in Sep; Ola remains biggest player in e2W space
Bajaj Auto has become the top player in India’s electric vehicle market by monthly volumes, across all categories, with over 25,000 sales and registrations in September. This comes on the back of a big push in expanding distribution by the company and steady demand of electric three-wheelers. In September, the company – according to … Read more
Why automotive manufacturing firm Stellantis, owner of Jeep, is struggling
Stellantis, an automotive colossus that owns more than a dozen brands including Chrysler, Fiat, Jeep, Peugeot, and Ram, is facing challenges at seemingly every turn. The company’s sales and profit have been plummeting. Dealers stuck with parking lots filled with unsold cars are publicly criticising Stellantis and its chief executive in unusually harsh terms. Stellantis’s … Read more