EV MARKET GROWTH
Volvo to launch only EVs in India, plans one new car every year
Swedish luxury carmaker Volvo Cars plans to exclusively launch electric vehicles in India after 2030. Volvo aims to introduce one new electric vehicle annually, starting with the EC30 in 2025. The market for electric cars in India, though currently small, is growing rapidly. Volvo holds a significant share in the luxury EV segment in India and sees potential for further growth in the country's luxury vehicle market.
Mid-sized cities to emerge as big demand centre for EVs: Report
Lucknow, Thiruvananthapuram, and Gurugram shine in electric car sales growth. Tier 2 cities emerge as pivotal for electric two-wheeler market. Financial support crucial for tier 3 cities' EV growth. Bengaluru and Jaipur lead in EV adoption. Wealthier cities drive electric vehicle growth, while private uptake fuels tier 2 cities' demand.
Want continuity of policy supporting EVs for next 8-10 yrs: Mercedes-Benz India MD & CEO
Mercedes-Benz India's CEO Santosh Iyer emphasized the need for long-term policy continuity supporting electric mobility for 8-10 years to plan better for zero-emission vehicles. He highlighted the company's increased EV penetration and upcoming launches, urging clarity on GST benefits and infrastructure investments in the Union Budget for sustained growth and commitment to emissions-free mobility.
VCs chase auto parts makers to hitch a ride on EV journey
Smaller component makers for electric vehicles (EVs), many of which started with other businesses before pivoting to their current business mainstays, are increasingly attracting interest from venture capital firms amid a boom in EV sales. The boom in EV sales, as demonstrated in the sales of passenger EVs jumping 91% and of commercial EVs tripling year-on-year (YoY) in FY24, has meant that the demand for parts has also soared.
VCs chase auto parts makers to hitch a ride on EV journey
Smaller component makers for electric vehicles (EVs), many of which started with other businesses before pivoting to their current business mainstays, are increasingly attracting interest from venture capital firms amid a boom in EV sales. The boom in EV sales, as demonstrated in the sales of passenger EVs jumping 91% and of commercial EVs tripling year-on-year (YoY) in FY24, has meant that the demand for parts has also soared.
Roadmap to EV 30@30: How can India achieve this ambitious target
India's climate change strategy includes the EV30@30 initiative, aiming for 30% of new vehicle sales to be electric by 2030. This transition enhances air quality, reduces oil dependence, and fosters economic growth. While challenges like limited commercial EV options and charging infrastructure persist, government incentives and rising private investments are accelerating EV adoption.
- Go To Page 1
Banks may relatively underperform compared to rest of the market: Ajay Srivastava
The deal turnaround cycles are three months to six months. So, fundamentally the banks have a problem that the best customers of them can raise equity any point of time. Most of the India is getting deleveraged.
Market Moves: Ashi Anand’s take on Indian IT and auto sectors
Ashi Anand, Founder and CEO of IME Capital, provides an in-depth analysis of the Indian IT and auto sectors. Anand highlighted the persistent strength in deal wins across IT companies despite weaker-than-expected revenue growth, attributing this to reduced discretionary spending.
Nomura raises M&M stock target prices, sees upside potential of 13.5%
Global brokerage firm Nomura has increased the target price for Mahindra & Mahindra (M&M) shares to Rs 3,374 from an earlier Rs 2,929 as the company has set bold targets across the group to scale up over FY25-30.
We are balancing our focus on both ICE as well as EV: Anish Shah, Mahindra Group
So, all three businesses or segments will be self-funding and the numbers we have given for the auto business in terms of capex will essentially come from within the auto segment and that is something we feel is required for growth and something that will drive future growth of the company.
Hyundai flags concerns with 'changes' by Indian govt ahead of planned Rs 25,000 crore IPO
Hyundai, which plans to raise Rs 25,000 crore through the Indian stock market by selling a 17% equity stake in the local unit, flagged the importance of stable policies for confidently making technological upgrades. They also highlighted concerns about localisation norms like PLI for automotive technology, aiming to reduce import dependence and lower manufacturing costs with significant initial capital investments.
Hybrids likely to outrun EVs soon in market share battle
Sales of hybrid cars and SUVs are rising, challenging electric vehicles. HEVs offer better fuel efficiency. Japanese companies and emission standards impact automakers' strategies.
VinFast pushes ahead with Asia expansion, expects to open India plant ahead of schedule
VinFast in January signed an agreement with the Indian state of Tamil Nadu to invest as much as $2 billion in the country as it seeks to break into one of the world’s biggest auto markets. Work on the plant started in February, with an initial investment of $500 million.
Utpal Sheth on key megatrends that can shape India's future growth
“Even one megatrend will create multiple types of opportunities, multiple types of companies and business models that you will be able to participate in. I think the way the financial savings in the country will get channelised will be another megatrend,” says the CEO of Rare Enterprises.
Demerger of biz to help commercial vehicle business capitalise on opportunities globally: Tata Motors
Tata Motors is planning to demerge its commercial vehicle (CV) and passenger vehicle (PV) segments into two separate listed entities to better capitalize on global growth opportunities. The CV business and related investments will be housed in one entity, while the PV business, including electric vehicles (EVs), Jaguar Land Rover (JLR) and its related investments, will come under a separate listed entity.
How China's EV makers aim to beat Tesla, legacy automakers in Europe
Chinese EV titans BYD, Chery and Great Wall Motor (GWM) are preparing a fusillade of product launches - about 20 over the next five years - and spending heavily on sales and marketing in their most important export market.
Hybrids catching up fast with EVs; Maruti, Toyota driving growth
Sales of hybrid transmission cars and SUVs are rapidly increasing, challenging electric vehicles in market share. Maruti Suzuki and Toyota offer popular models in this segment, with hybrid vehicles capturing 2.48% of the passenger vehicle market in Q1 2024.
India leads in electric vehicle sales amid global slowdown
Global electric vehicle sales growth faces challenges like capital costs and election uncertainty. US EV sales outpaced Europe, where EV sales declined due to Easter holidays. Germany saw a 29% drop in EV sales, while India's EV market share doubled to 4% in 2023.
Tesla drops reference to its goal of delivering 20 million vehicles annually in impact report
Tesla's latest impact report excludes the goal of delivering 20 million vehicles annually by 2030, shifting focus to robotaxis, diverging from Musk's 2020 target to outsell Toyota by nearly double.
Hero MotoCorp plans to expand electric model range to increase customer base
Hero MotoCorp expands its electric two-wheeler segment presence with new models and plans for significant growth. The company aims to enter European and UK markets, launch new scooters, and accelerate growth for FY25 and beyond.
M&M is wheeling big money into business. What is the plan?
Mahindra & Mahindra had outlined a new strategy for the coming five years with a focus on capitalizing on its market leadership in segments like SUVs, tractors and pickup trucks while scaling its growth-phase businesses five-fold during this period.
Motherson Sumi Wiring capacity to go up 10% as two new plants get operational in Q1: Management
Anurag Gahlot, CFO of Motherson Sumi Wiring, projects significant market growth for FY25 supported by factors such as Maruti Suzuki and Tata Motors' capacity expansions, India's low car penetration, and the growing Indian middle class. Additionally, the expansion of road infrastructure in India presents opportunities for OEMs and customers.
Will China become the cat among India's EV pigeons?
Chinese electric vehicles are causing concern in the US and Europe due to their affordability and efficiency. The US has responded by imposing tariffs on Chinese EVs and lithium-ion batteries. India may now become a target for Chinese EVs. Stellantis is considering manufacturing Leapmotor's electric vehicles in India to avoid tariffs.
Hero MotoCorp, India's top two-wheeler maker, has a three-pronged strategy for the EV sector
Hero MotoCorp, led by CEO Niranjan Gupta, aims to boost EV sales with strategic acquisitions. Gupta, with a 30% stake in Ather Energy, plans to expand the VIDA portfolio with affordable variants and enhance the charging infrastructure network.
Green career path looks promising but remember that it is a nascent industry
The green job sector is rapidly expanding with numerous growth opportunities, but also presents challenges due to its nascent stage. Individuals must navigate issues like evolving landscapes, skill gaps, and market fluctuations. Strategies include pursuing relevant education, upskilling, leveraging AI, networking, and remaining adaptable to excel in this dynamic industry.
ETMarkets Smart Talk: Next 30 days can see a bit of increased volatility as politics takes centrestage: Devang Mehta
Devang Mehta discusses the positive macroeconomic outlook for India, the impact of global trends on the market, and the growth potential in sectors like energy, renewable energy, and EVs, emphasizing the importance of fundamental analysis in IPO decisions. Mehta also says the next 30 days can see a bit of increased volatility as politics take the centrestage and all eyes will be on the election trends and actual results.
Tata Power Q4 Results: Net profit rises 15% YoY to Rs 895 crore; revenue jumps 27%
Tata Power Q4 Results: The Board has also recommended a final dividend of Rs 2 per share for the financial year ended March 2024.
Small car demand won't rebound before 2 years at least: RC Bhargava, Maruti Suzuki
Maruti Suzuki's RC Bhargava expects small car market revival in two years post two-wheeler recovery, with EV production planned for European exports. Bhargava further says: "Maruti has avoided trying to give any kind of guidance on margins or profitability or any such thing. All I can say is that I am optimistic. The conditions in India are going to be favourable"
Tata Sons Chairman N Chandrasekaran's top three focus areas for 2024: Growth, growth & growth
This was the theme that brought together around 500 Tata group leaders at the JW Marriott Marquis in Dubai over the weekend for their annual offsite meeting, said top executives at the $270 billion conglomerate. Trent chairman Noel Tata and his three children - Neville, Leah and Maya - attended the meet.
Load More
