Tesla Cuts Prices In US, Europe To Boost Demand

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 targets to regain old glory

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 takes a significant stake in a ADAS start-up

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

Mahindra plans a significant capacity expansion for SUVs

Mahindra & Mahindra riding high on the success of it’s recent launches (XUV700, Scorpio N), is sitting on a healthy order book of more than 2,60,000 SUVs. Checkout the model wise order book (taken from Company’s investor PPT). Company’s current production capacity is 29,000 SUVs per month i.e., 3,48,000 p.a. implying an average order book … Read more

Nissan Motor likely to snub Renault revamp over sharing technology

Nissan Motor is willing to walk away from a deal with Renault SA to re-balance their alliance amid concerns the French carmaker wants to license hundreds of jointly developed patented technologies to other players, including new Chinese partner Geely. While both sides appeared near a final agreement two weeks ago, Nissan’s board and management have … Read more

Six-airbag rule for cars deferred by 1 yr

The centre has postponed implementing a proposal making it mandatory for passenger cars to have six airbags by a year to 1 October 2023, road transport and highways minister Nitin Gadkari said on Thursday. The domestic automotive industry had sought a rethink on the rule claiming inflation and regulatory costs made passenger vehicles—particularly small and … Read more

M&M benchmarks to Tata. Does a token fund raise in the EV business.

After Tata Motors doing it last year, M&M going for external fund raise in the EV business was widely expected. The Company has now announced raising Rs 1,925 crore from British International Investment Plc (BII) for the same. BII (formerly CDC Group plc) is the Development Finance Institution of the UK Government and invests between … Read more