Discovery of 5.9 million tonnes of lithium reserve in Jammu and Kashmir’s Reasi District is a major step in reducing India’s dependence on import of EV batteries, laptops, mobile phones, etc. The reserves can help cater to India’s lithium demand for its growing EV industry. But one needs to look from a bird’s eye-view to … Read more
Hero MotoCorp on Wednesday said that the firm needs to recover its market share in the 125-cc engine motorcycle segment as it sees an opportunity in building a premium portfolio. Hero MotoCorp’s sales in the 111cc-126 cc motorcycle segment increased by 5.65 per cent year-on-year to 452,274 units in April-December of FY23, according to data … Read more
Christine Orita was a loyal Tesla fan for years but recently ditched her Model S for an electric Mercedes-Benz. Elon Musk’s politics and disappointing self-driving tech pushed Orita to drop the Tesla brand, she told Insider. She loves how luxurious and comfortable her new Mercedes EQS is compared to her Model S. This as-told-to essay … Read more
Tesla is trying to use its overbuilding problem to maintain market share. Price slashes and piled up inventory at Tesla pose a big problem for rival startups. But the price cuts in the US alone could cost Tesla as much as $7 billion in annual profit. Tesla has the opposite problem of its competitors right … Read more
Car workshop and auto spare parts platform, GoMechanic is going to let go of approximately 70% of its workforce. This was announced by co-founder Amit Bhasin in a long LinkedIn post. GoMechanic, which offers everything from mechanics to carwashing services on an app, bills itself as having India’s largest auto service center network. With its … Read more
Tesla Inc. has reduced its electric vehicle prices in the United States and Europe, aiming to boost demand, Reuters reported. The move comes nearly one week after the luxury electric major slashed prices at its biggest international market in China. Following the news, Tesla shares were losing more than 4 percent in Frankfurt as well … Read more
Maruti has set two targets for itself – Become No. 1 in SUV by FY 24 Which would help it regain it’s 50% market share (as was the case earlier) Over the years, Maruti has lost some ground to the competitors. It was controlling almost half (50%) of the Indian passenger vehicles (cars) sales for … Read more
Sona BLW Precision Forgings Ltd. (Sona Comstar) has signed an agreement to acquire 54% equity stake in NOVELIC, a Serbian Company founded in 2012. NOVELIC is primarily into providing sensor based solutions for smart vehicles. Sona’s immediate objective is to use it’s own existing client relationships to ramp up NOVELIC’s ADAS (Advanced Driver Assistance Systems) … Read more