Page 3 - Two Wheeler

TVS to acquire 48% stake in two-wheeler startup DriveX for Rs 85 cr

TVS Motor Company on Wednesday said it will acquire 48 per cent stake in Narain Karthikeyan's pre-owned two-wheeler startup 'DriveX' for a consideration of Rs 85 crore. The company said it will acquire 48.27 per cent stake in NKars Mobility Millennial Solutions Pvt Ltd (NMMSPL), which operates under the brand DriveX', through primary and secondary investments. Founded by Formula 1 driver Karthikeyan, DriveX is into leasing of two-wheeler motorcycles and scooters and selling, trading, and distributing pre-owned two-wheeler motorcycles and scooters. "DriveX has a vision to bring a change in this segment by building trust, assurance, and transparency through end-to-end, high-quality products and customer experience through innovative solutions. We are confident of DriveX ability to deliver on this vision," TVS Motor Company Managing Director Sudarshan Venu said in a statement. DriveX Founder and CEO Karthikeyan said DriveX is a digital first business, serving all brands with ...

July auto sales rise 10% YoY as chip availability improves: SIAM

Market for entry-level passenger cars, two-wheelers and three-wheelers yet to recover

More than 210 mn two-wheelers registered in India: Govt informs Parliament

Data further revealed that there were 2,95,245 two-wheelers and 18,47,539 four-wheeler and above category of vehicles with fuel types of CNG, ethanol, fuel cell hydrogen, LNG, LPG, solar, methanol etc

2-wheeler makers accelerate global expansion plans as exports gain traction

The domestic slowdown and growing acceptability of Made-in-India brands offer opportunities to accelerate the drive to global markets

More than 1.3 mn vehicles recalled in FY22 due to safety issues: Gadkari

Vehicle recalls in India rose to a three-year high in 2021-22, with more than 13 lakh two-wheelers and passenger cars recalled over safety issues, Parliament was informed on Thursday. In a written reply to the Lok Sabha, Minister of Road Transport and Highways Nitin Gadkari cited data maintained by the Society of Indian Automobile Manufacturers (SIAM) and said 8,64,557 two- wheelers and 4,67,311 passenger cars were recalled in 2021-22 in the country due to safety defects. He informed the House that 1,60,025 two-wheelers and 25,142 passenger cars were recalled till July 15 of current financial year. While more than 3.39 lakh vehicles (two-wheelers and passenger cars) were recalled in 2020-21, the number of vehicles recalled in 2019-20 stood at 2.14 lakh, he said. Gadkari further said the total number of road accidents involving cars, taxis, vans and light motor vehicle (LMV) in calendar year 2020 was 60,986. The minister pointed out that Section 110 A of the Motor Vehicles Act, 19

Going green and saving on long-term costs running an electric vehicle

Both two- and four-wheeler EVs are available at various price points to suit your budget; you can also expect a slew of new models a few months down the line

Okinawa Autotech to invest Rs 1200-1,500 cr in e-two-wheelers in two years

This includes the JV with Tacita; company is in talks with PE firms

TVS Motor Co signs deal with Rapido to strengthen hyperlocal mobility biz

By signing this MOU, TVS Motor and Rapido are bringing together their strength in mobility and seamless technology platform, respectively, to deliver a winning proposition to this demanding user base

Delhi govt likely to roll out EMI on electric 2-wheelers for employees

In view of encouraging large-scale adoption of electric vehicles in Delhi to reduce air pollution, the city government plans to provide e-two-wheelers to its employees on easy monthly installments

Govt may ask Ola Electric to explain why its e-scooter caught fire

The government may ask Ola Electric to explain the incident of its electric scooter catching fire in Pune last month, a senior government official said on Thursday

E-two wheelers on fire brings safety of Li-ion batteries under spotlight

While such incidents of e-two wheelers bursting into flames have been on a rise with increasing sales, it's the first one that has claimed two lives

Passenger vehicle sales still facing brunt of chip shortage, says FADA

According to the FADA data, if the overall sales figure is compared with the January 2020 figure, when automobile companies sold 1.76 million units, the decline is over 18 per cent.

Bajaj Auto posts 15% decline in sales to 363,443 units in January

Exports of two-wheelers stood at 1,87,934 units as compared with 2,27,532 units in the year-ago month, down 17 per cent

EV player Wardwizard Innovations on expansion spree, plans newer models

Plans afoot for 3-wheelers and capacity expansion of 2-wheelers along with ancillary cluster

Hero Electric partners with ALT Mobility to deploy 10,000 Hero Nyx by 2023

Hero Electric on Tuesday said it has partnered with ALT Mobility, a dedicated platform for leasing of electric vehicles for the logistics market, to deploy its electric two-wheeler Hero Nyx.

Budget 2022: FADA seeks GST rate cut on two-wheelers to 18% to spur demand

Automobile dealers' body FADA has urged the government to reduce GST rates on two-wheelers to 18 per cent in order to generate demand in the segment.

Hero MotoCorp announces upward revision in prices, stock rises nearly 2%

The price revision will be up to Rs 2,000 and the exact quantum of increase will depend on the model and the market

e-Ashwa Automotive launches range of electric two-wheelers

The new low-speed two-wheelers can run up to 25km/hour with a mileage of 70-100 Km

Competitive pressures, weak two-wheeler demand weigh on TVS Motor

Brokerages had turned cautious on the stock which led to recent correction

Ather Energy expands Guj retail biz; starts 1st experience centre in Surat

The new experience centre will be the brand's second retail outlet in Gujarat. The expansion is driven by strong consumer demand for the Ather 450X and 450 Plus electric scooters in the State