Sector: Auto
Elon Musk protests: Should Elon Musk be worried, what is Tesla Takedown? A movement that is gaining ground in U.S and Europe
An emerging movement against Tesla and its CEO Elon Musk has heated up, prompting protests at showrooms throughout the US and Europe, as per a report. Tesla takedown The movement, called “Tesla Takedown,” is urging consumers to shed their Teslas and sell their shares, aiming at Musk’s strong relationships with the Trump administration’s radical government … Read more
CARE downgrades Gensol to default category
CARE has got feedback from Gensol’s lenders that there have been delays in the servicing of term loan obligation and hence the downgrade from BB+ to D. Company had an outstanding debt of Rs 1,150 cr as at December 31, 2024. It had negative operating cash flows during FY 24. During the current year, the … Read more
Castrol hires a new MD from Hindustan Unilever
Kedar Lele is joining as the new Managing Director, effective November 1. Lele succeeds Sandeep Sangwan, who has been elevated to the position of Global Chief Marketing Officer at Castrol headquarters in London. He has a total work experience of more than 26 years, of which 18 years has been spent at Unilever in various … Read more
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