India Auto Mncs
India's Exicom expects EV charger business to bring 50% revenue by 2030-end
(Reuters) - India's Exicom Tele-Systems, a supplier for car makers such as Mahindra & Mahindra and MG Motor, expects its electric vehicle charger business to bring in half of its annual revenue by 2030, its chief executive told Reuters.
 "India's Exicom expects EV charger business to bring 50% revenue by 2030-end")
Honda to launch 3 new models in India by FY27 to tap growth in SUV segment
Japanese carmaker Honda plans to introduce three new models by the 2026-27 fiscal in India as it looks to tap growth opportunities in the robustly growing SUV segment, according to a top company executive. The company, which is present in India through a wholly-owned subsidiary, currently sells just one SUV model -- Elevate -- in the market with the other two products being Amaze and City sedans. "We plan to introduce three new models, with hybrid and electric powertrains by the 2026-27 fiscal thus expanding the company's presence in the SUV segment," Honda Cars India President and CEO Takuya Tsumura told PTI in an interaction. The new models would encompass both hybrid and battery electric powertrains, he added. The Sports Utility Vehicle (SUV) segment now accounts for over 50 per cent of sales in close to 40 lakh domestic passenger vehicle segments. Tsumura noted the carmaker continues to develop models, like hybrid and battery electric vehicles, that suit the Indian market. Ho
 "Honda to launch 3 new models in India by FY27 to tap growth in SUV segment")
Govt yet to decide on lower import taxes on EVs as local cos resist Tesla
India's domestic automakers are concerned about the possibility of Tesla entering the market - and government plans to give incentives to Tesla and other global carmakers
 "Govt yet to decide on lower import taxes on EVs as local cos resist Tesla")
Electric cars expected to see volume growth of 30-40% in 2024: Chandra
He said that more electric car models at different price points -- between Rs 8 lakhs and Rs 30 lakhs -- have to come in the Indian market so that people have more options
 "Electric cars expected to see volume growth of 30-40% in 2024: Chandra")
We have developed an 80% biodegradable tyre: JK Tyre CMD Singhania
Average selling price of tyres will 'slightly move up', he says in interview about where industry is headed
 "We have developed an 80% biodegradable tyre: JK Tyre CMD Singhania")
MHI introduces amendment to automobile wheel rim quality control order
Each two-wheeler manufacturer is also permitted to import a maximum of 70,000 units of two-wheeler automotive wheel rims for manufacturing 35,000 vehicles
 "MHI introduces amendment to automobile wheel rim quality control order")
From Bajaj to TVS, two-wheeler makers hit full throttle on growth prospects
While demand woes continued to plague the export market, growth was largely on the back of domestic demand
 "From Bajaj to TVS, two-wheeler makers hit full throttle on growth prospects")
MHI orders probe to investigate role of govt officials in FAME scam
The action comes several months after the ministry instructed 13 companies to reimburse improperly claimed subsidies
 "MHI orders probe to investigate role of govt officials in FAME scam")
Over Rs 300 crore FAME-II subsidy stuck on Aadhaar card, RC mismatch
Auto companies, especially makers of electric two-wheelers, say that in such cases the government has been withholding the subsidy for months, without offering any resolution on the issue
 "Over Rs 300 crore FAME-II subsidy stuck on Aadhaar card, RC mismatch")
Aston Martin to double its volume with new South India dealership
Aston Martin's decision to expand its footprint in South India reflects a strategic choice, due to the region's growth in the sports car segment
 "Aston Martin to double its volume with new South India dealership")
TVS Motor posts marginal rise in Q2 consolidated net profit to Rs 386 crore
During the quarter under review, the company's revenue from operations increased by 16 per cent to Rs 9,932.82 crore as against Rs 8,560.76 crore in the July to September quarter of FY23
 "TVS Motor posts marginal rise in Q2 consolidated net profit to Rs 386 crore")
India is the only growth market for autos globally: S&P Global Mobility
Moody's Investors downgrades global outlook for auto to negative from stable
 "India is the only growth market for autos globally: S&P Global Mobility")
Hyundai, Honda expect India demand for cars to continue in festivals
Companies list a semiconductor shortage and possible third wave of Covid-19 as challenges that could hurt sector.
 "Hyundai, Honda expect India demand for cars to continue in festivals")
Slowdown pain spreads: Tata Motors, Ashok Leyland, Hero halt production
About 15,000 workers, mostly temporary and casual, out of work in auto making firms over past 2-3 months, 200,000 heads roll across dealerships
 "Slowdown pain spreads: Tata Motors, Ashok Leyland, Hero halt production")
The drive now is to invest in existing customers: Audi India Head
In an Interview with Pavan Lall, Audi new India head Balbir Singh Dhillon talks about his company's plans to increase its market share
 "The drive now is to invest in existing customers: Audi India Head")
Auto MNCs lagging in India utilise export hub potential
India is the world's fifth largest passenger vehicle market
 "Auto MNCs lagging in India utilise export hub potential")
