M&M on August 15, 2022 announced the following – Inauguration of EV design studio in UK – Mahindra Advanced Design Europe (M.A.D.E) at Banbury, Oxfordshire. Its primary objective is to conceive the future Mahindra EV portfolio and the advanced vehicle concepts M.A.D.E shares the campus with the Mahindra Formula E team and forms a part … Read more
Chinese automaker Great Wall Motor has been planning to enter the Indian market since 2020 but now becomes one of the biggest casualties of New Delhi’s increased scrutiny of investments from Beijing. China’s Great Wall Motor has shelved plans to invest $1 billion in India and laid off all employees at its operations after failing … Read more
Maruti Suzuki India (MSI) wants the government to reconsider the proposal to make six airbags mandatory in passenger vehicles, saying the norm will adversely hit the already shrinking small car market and may even impact jobs in the auto sector going ahead. The auto major noted that the regulation would largely impact the cost-sensitive … Read more
Memorandum of Understanding (MoU) is signed by Tata Passenger Electric Mobility Limited (TPEML), a subsidiary of Tata Motors Ltd (TML). Key points to note – Subject facility is located in Sanand, Gujarat. This unit is adjacent to the already existing plant of TML at Sanand, which should help in a smooth transition. Potential acquisition would … Read more
Key points to note – The facility is coming up at IMT Kharkhoda in District Sonipat, Haryana This is Maruti Suzuki’s (MSL) 3rd facility in Haryana – other two being at Gurgaon and Manesar The Company has got 800 acres of land allotted for this facility from Haryana State Industrial and Infrastructure Development Corporation Limited … Read more
Pointing to a strong demand in the luxury car space, German giant Mercedes-Benz has said that it has pending orders in excess of Rs 3,500 crore in India with over 5,000 cars yet to be delivered, as the company expects to clock its best-ever sales in the country this year on the back of a … Read more
Hamstrung by lack of government approvals for its FDI plans, British carmaker MG Motors — a subsidiary of Chinese auto major SAIC — plans to raise up to Rs 5,000 crore through external commercial borrowings (ECBs) or private equity route as it looks to set up a second factory in India, while launching new cars, … Read more
Road transport minister Nitin Gadkari on Tuesday said rapid strides in technology and green fuel will reduce the cost of electric automobiles, bringing them at par with petrol-run vehicles in the next two years. Replying in the Lok Sabha on the demands for grants for road transport and highways ministry, 2022-23, Gadkari emphasised the need … Read more
Suzuki Motor Corporation, Japan (SMC) has announced the following – At Suzuki’s existing facility in Gujarat Rs 7,300 crore to set up a EV Battery manufacturing facility by 2026 Rs 3,100 crore towards increasing the manufacturing capacity of EVs by 2025 Key points to note – SMC owns 56.37% of Maruti Suzuki India (MSI). MSI … Read more