While Tesla CEO Elon Musk’s Cybertruck had dominated headlines for its futuristic design, a new player is getting attention quietly for a very different reason- its low price, as per a report. Slate Auto’s Affordable Electric Pickup Slate Auto, an electric vehicle startup from Michigan with backing from Amazon’s Jeff Bezos, is about to release … Read more
Mahindra & Mahindra (M&M) informed that it’s board has approved acquiring a significant stake in SML Isuzu. M&M is acquiring 59% from the promoter group entire 43.96% of Sumitomo Corporation; and entire 15% of Isuzu Motors Quite surprising the above 59% stake is being acquired @ Rs 650/ share totalling Rs 555 cr. This price … Read more
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
Hyundai Motor India has obtained approval for its initial public offering from the Securities and Exchange Board of India, according to two sources familiar with the situation. Â The South Korean automaker plans to raise $3 billion at a roughly $20 billion valuation, sources previously told Reuters. This would make it the first carmaker to go … Read more
In a bid to mitigate the alarming build-up of unsold passenger vehicle (PV) inventory, the Federation of Automobile Dealers Associations (Fada) is set to formally approach banks and non-banking financial companies (NBFCs) with requests to exercise caution when disbursing funds to dealers. This comes after the dealers’ body wrote twice to the Society of Indian … Read more
Gliding on robotic haulers, a line of Ferrari frames maneuvers through a gleaming new factory in Northern Italy. At each station, engineers in cherry red uniforms add a component — an engine block, a dashboard, a steering wheel — as they transform the bodies into hybrid vehicles. Up next: fully electric. A lot is riding … Read more
Jaguar Land Rover owned by India’s Tata Motors, is set to commence the production of its iconic Range Rover and Range Rover Sport models in India. This marks the first time in the 54-year history of these models that they will be manufactured outside of the UK. Previously, both models were exclusively produced at Jaguar … Read more
The top US auto-safety regulator is again investigating Tesla Inc.’s Autopilot, this time over whether a fix deployed months ago did enough to stop people from misusing the system. The National Highway Traffic Safety Administration disclosed Friday that it’s opened a query into the Autopilot recall Tesla conducted in December. The agency is concerned as … Read more