Automotive Industry

Prime Minister Narendra Modi on Friday said future of mobility belongs to India that saw an unprecedented sale of 2.5 crore vehicles a year, and attracted USD 36 billion foreign direct investment in just four years. Addressing a gathering after inaugurating the Bharat Mobility Global Expo 2025 at Bharat Mandapam here, the prime minister also emphasised that India stands as an outstanding destination for every investor looking to shape one's future in the mobility sector. The five-day expo which is being held across three venues -- Bharat Mandapam and Yashobhoomi in the national capital and India Expo Center and Mart, Greater Noida -- is expected to witness over 100 new launches across automobiles, component products and technologies. India's largest auto expo, scheduled from January 17-22, will bring the entire value chain of the mobility ecosystem -- from automobile manufacturers to components, electronics parts, tyre and energy storage makers, and automotive software firms and ...

Prime Minister Narendra Modi on Friday inaugurated the Bharat Mobility Global Expo 2025, the largest mobility expo in India, which is expected to witness over 100 new launches across automobiles, component products and technologies. The five-day expo is being held across three venues: Bharat Mandapam and Yashobhoomi in the national capital and India Expo Center and Mart, Greater Noida. Modi inaugurated the Expo at Bharat Mandapam in presence of Union ministers Nitin Gadkari, H D Kumaraswamy, Jitan Ram Manjhi, Manohar Lal, Piyush Goyal and Hardeep Singh Puri, and leaders of the automobile sectors. The Bharat Mobility Global Expo 2025, scheduled from January 17-22, will bring the entire value chain of the mobility ecosystem -- from automobile manufacturers to components, electronics parts, tyre and energy storage makers, and automotive software firms and material recyclers -- under a single umbrella. With a theme "Beyond Boundaries: Co-creating Future Automotive Value Chain", aiming

Union minister Nitin Gadkari on Thursday highlighted the growth of the country's auto sector in the past few years, during which it became the third biggest player in the segment, and said the aim is to become number one. "...our number was seventh in the world but we are third in the automobile sector... we surpassed Japan and now our number is third," Union Road Transport and Highways Minister said while addressing a function at National Automotive Test Tracks (NATRAX) here. "The size of the USA automobile sector at the top (of the table) was Rs 78 lakh crore industry size, while that of China was Rs 47 lakh crore," Gadkari said. "When I took charge of the minister. The size of the industry was Rs 7.5 lakh crore and today its size is Rs 22 lakh crore. And this is the industry, which has created 4.5 crore jobs till now -- the highest in the country. "This is the automobile industry, which is giving maximum revenue as a part of GST to the state government and Bharat Sarkar," he ...

Rapid economic growth in India has wrought a fundamental shift in attitude towards luxury purchases among its younger generations

India Energy Storage Alliance on Wednesday said batteries, irrespective of technology type, must be uniformly taxed at 5 per cent GST like electric vehicles to support the emerging sector. Ahead of the Union Budget, India Energy Storage Alliance (IESA) President Debi Prasad Dash told PTI that the government may consider protecting domestic cells and battery component manufacturers in the wake of an increase in imports of lithium-ion cells, which has risen to Rs 24,000 crore in FY24 from Rs 18,000 crore in FY23, especially from China. There is a disparity in the tax structure of batteries, he said, adding GST for lithium-ion batteries is 18 per cent, but other chemistries, like lead acid, sodium, and flow batteries and others, are at 28 per cent. On the other hand, for electric vehicles, the GST is 5 per cent. "So, as an industry, we need support to this emerging sector, and all new technologies must be taxed at 5 per cent, and there should not be any difference between different ...

Global automotive components maker Advik on Tuesday said it will acquire German mechanical and hydraulic braking system manufacturer Powersports MTG for an undisclosed sum. The acquisition will create additional expertise for Advik in premium motorcycle safety components, which will also drive technologies in the large segment of ICE (internal combustion engine) and electric-powered commuter motorcycles and scooters, it said. The buyout brings Advik into the list of advanced brake system suppliers, aligning with its growth trajectory, and would help the company establish its footprint in Europe, from where it can expand and service its customers at its doorstep, Advik said. Besides, the acquisition will also expand its product range and customer base, said Advik, which is aiming to enhance the development of next-gen braking solutions. "This acquisition of the two-wheeler braking system of MAGURA, not only brings advanced technology for hydraulic braking and clutch systems to a lar

NXP India head Hitesh Garg said that India's growing automotive and industrial sectors are expected to boost the company's sales in the region

E-bus penetration witnesses minuscule increase last year despite subsidies

These systems can be deployed across various industries ranging from pharmaceuticals, and consumer goods to the automotive sector

Nuvama analysts said December is expected to bring encouraging results for the industry. PVs are predicted to achieve double-digit growth, propelled by strong performances from M&M, Maruti & Toyota

Suzuki, who died on Christmas Day of lymphoma, played a key role in turning India into a flourishing auto market

A spokesperson for Chinese automaker BYD has objected to reports about poor conditions at a construction site in Brazil where it is building a factory, saying the allegations were aimed at smearing China and Chinese brands. Earlier in the week, a task force led by Brazilian prosecutors said it had rescued 163 Chinese nationals it said were working in slavery-like conditions at the site. A video from the Labour Prosecutor's Office of dorms housing the workers showed beds with no mattresses and rudimentary cooking facilities. A BYD spokesperson, Li Yunfei, vehemently objected in a statement posted Thursday on his Weibo social media site. In the matter of smearing Chinese brands, smearing China, and attempting to undermine the friendship between China and Brazil, we have seen how relevant foreign forces maliciously associate and deliberately smear, it said, also criticizing media reports about the situation. BYD, which stands for Build Your Dreams, is one of the world's largest produc

A registered person will have to pay GST on sale of old and used vehicle only if the seller has earned a margin, which is the selling price is higher than the depreciation adjusted cost price of the vehicle, sources said. The GST Council in its meeting last week decided to prescribe a single rate of 18 per cent on sale of all old and used vehicles including EVs, earlier leviable at different rates. If an individual sells old and used car to another individual, GST would not be applicable. Sources said where the registered person has claimed depreciation under Section 32 of the Income Tax Act 1961, GST is payable only on the value representing the margin of the supplier, that is the difference between consideration received for the supply of such goods and the depreciated value of such goods on the date of supply. "Where such margin is negative, no GST is payable," a source said. For example, if a registered person is selling an old and used vehicle to any person at Rs 10 lakh, whe

Over 14% of passenger vehicles and 16% of two-wheelers manufactured in the country were exported between January and November

Analysis highlighted that Mumbai recorded a 17 per cent growth in October 2024, making it a frontrunner among cities witnessing the expansion of tech roles into non-tech sectors

Luxury carmaker Audi India expects sales to be back on track next year after witnessing supply chain disruptions that hampered its performance in 2024, a top company executive said on Thursday. The German carmaker, which on Thursday introduced a new version of its flagship SUV Q7, expects its sales to grow by 8-10 per cent next calender year, recovering from supply chain challenges it faced in the first two quarters of this calender year. "We anticipate luxury car industry growth next year to be in the range of 8-10 per cent. For Audi also we expect similar kind of growth," Audi India Head Balbir Singh Dhillon told PTI in an interaction. He noted that the industry sales growth has tapered down after witnessing huge growth in the last three years. In January-September this year the industry growth has been around 5 per cent, down from over 30 per cent year-on-year growth witnessed in the last three years. "Still we believe that the luxury car industry will cross the 50,000 unit-mar

India cannot address the problem of pollution without reducing import of fossil fuels, Union Minister Nitin Gadkari said on Wednesday. Addressing 'Times Drive Green Conclave & Awards 2024' event, Gadkari further said a bio-fuel economy is very import today and it is in good position in India. He said 40 per cent of air pollution in the country is because of the transport sector. "Pollution is a big concern in India.. without reducing import of fossil fuels, we cannot reduce pollution in the country. In the transport sector, we need to find out alternative for fossils fuels... We need to develop sustainable development model," Gadkari said. The road transport and highways minister also noted that India is facing problems in the agriculture sector due to surplus production of wheat, rice and sugar. In this context, he said the government has taken decision to diversify agriculture into energy sector. "Today there are 400 projects in Punjab, Haryana, and Maharashtra where they are ..

This dispute is part of a growing wave of visible labour conflicts amid China's struggling post-lockdown economy. A quarterly report from Freedom House, based in Washington DC, revealed a 27 per cent

The automotive industry needs to do more in terms of driving in new electric cars to enhance customer response enabling higher adoption of such models, Advisor to Prime Minister at PMO Tarun Kapoor said on Tuesday. Speaking at the FICCI National Conference on Electric Vehicles here, he noted that the government on its part will look at all aspects, including taxation issues so that the industry remains viable. "In four-wheelers, what I think is that industry itself has to play a much, much larger role than the government because we need more products. We need better products, and we need more publicity," Kapoor said. He noted that the government is working towards enhancing charging infrastructure with even the PM-E Drive scheme laying a lot of emphasis on it. "But on product and on getting more customer satisfaction and to give more choice, the industry has to plan a much bigger role," Kapoor said. On taxation issues, he stated: "So from the government, we can't really commit ...

M&M, with a stronger position in the domestic market, is reluctant to compromise with the two sides facing disagreements over issues related to development costs and sourcing