FUTURE CAR MODELS
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.
How a tax sop has created a divide in India's motown
Indian automakers are at a crossroads as they navigate the shift from internal combustion engines to electric vehicles. Consumers are showing a preference for hybrids over EVs, sparking debate among automakers. The government's proposed tax reduction for hybrids has divided industry leaders, with some advocating for incentives solely for electric vehicles. The potential impact on sales volumes and climate goals is a central point of contention.
Why India needs micro EVs ?
The 2nd car. The small car for the city. The wife's car. The college kid’s car. The urban machine - affordable, efficient, compact, cheerful. And that’s something the small EVs can be really good at. Yet, how many EV brands are launching cars that fit that description? And those that are closest to the brief e.g. the MG Comet EV, are not exactly inexpensive.
What to know about Europe's extra tariffs on Chinese electric cars
The tariffs, which have been expected for months, come on top of existing 10% duties, but the level of their impact has been disputed. Some European automakers argue they will set off a trade war, but other experts have said they will not stop China's dominance in the industry.
How electric car batteries might aid the grid (and win over drivers)
New technology could transform expensive electric car batteries into assets for owners, offering benefits like reduced utility bills and free parking. Automakers like Ford, GM, and BMW are exploring using electric car batteries to store excess renewable energy, creating a potential new revenue stream.
Old empires could be the key to a new car future
Hydrogen, a vital element in water creation, is gaining traction as a fuel source for fuel-cell electric vehicles.
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Mygate enters insurance distribution business, partners with Acko
Mygate app, in partnership with Acko General Insurance, received an aggregator licence from IRDAI to distribute insurance policies, offering exclusive pricing and expanding product range.
Mahindra to focus more on driving range, tech over price in future electric cars
Speaking to ET, R. Velusamy, president, automotive technology and product development at M&M said while TCO (total cost of ownership) approach to EV development or how much one saves after switching from petrol or diesel cars to EVs may work in the short term for “early adopters”, in the long term, it’s the range, technology and overall experience that will help in creating new market segments and to grow sales.
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.
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.
Few Chinese electric cars are sold in U.S., but industry fears a flood
American automakers expressed their approval of the Biden administration's decision on Tuesday to levy a 100% tariff on electric vehicles imported from China. They stated that these vehicles could undercut billions of dollars of investments made in electric vehicle and battery manufacturing facilities in the United States.
Consumers bend the road: No straight drive from ICE to electric
The transition from internal combustion engine (ICE) vehicles to electric vehicles faces challenges as consumers show a preference for hybrids and CNG vehicles over pure EVs. Maruti Suzuki expects significant growth in CNG car sales, signaling a shift towards alternative fuel technologies alongside traditional options.
Tesla pullback puts onus on others to build electric vehicle chargers
Musk's decision to lay off the 500-member team responsible for installing charging stations, and to sharply slow investment in new stations, baffled the industry and raised doubts about whether the number of public chargers would grow fast enough to keep pace with sales of battery-powered cars.
Move aside WagonR & Swift, India’s newest favourite is Tata Motors' Punch
Tata's Punch becomes India's top-selling car, outpacing Maruti's WagonR and Brezza. This shift underscores changing consumer tastes and hints at a broader transformation in the automotive sector. With consistent leadership, Tata's success reflects evolving market dynamics and suggests a potential reconfiguration in the competitive landscape, signaling a significant milestone for the company in the Indian car market.
Maruti Suzuki reveals recipe for improved export plans in FY25
Indian automaker Maruti Suzuki is targeting nearly 3 lakh exports in FY25, focusing on improving its portfolio abroad. With 283,067 units exported, the company has been India's top passenger car exporter for the third consecutive year. The company has also manufactured over 3 crore automobiles in India. Supporting factors for this outlook include better products, improved portfolio in foreign nations, and talent transfer.
China's electric cars keep improving, a worry for rivals elsewhere
Chinese automakers are leading in electric car innovation, introducing larger, technologically advanced models. With plans to launch 71 new battery electric models, features include taller hoods, bigger tires, and spacious interiors. China's advancements in self-driving technology and battery efficiency are reshaping the global automotive landscape, challenging traditional manufacturers.
Hyundai plans to launch its first hybrid car in India in 2026, says EVs long-run strategy
The group, housing Hyundai Motor and Kia Corp, is evaluating a hybrid sport-utility vehicle of size similar to its top-selling, mid-sized Creta SUV in India, said two of the sources who have direct knowledge of the plans.
Tesla's plan for affordable cars takes page from Detroit rivals
Tesla's new strategy focuses on offering more affordable models using existing platforms, steering away from the Model 2. The shift mirrors traditional automakers, sparking investor optimism despite concerns about execution risk.
'It is desolate': China's glut of unused car factories
The facility, a former assembly plant and engine factory, had been a joint venture of a Chinese company and Hyundai, the South Korean giant. The complex opened in 2017 with robots and other equipment to make gasoline-powered cars. Hyundai sold the campus late last year for a fraction of the $1.1 billion it took to build and equip it. Unmown grass at the site has grown knee high.
Tesla earnings a 'moment of truth' for Elon Musk after stumbles
Tesla CEO Musk faces heightened pressure with Tuesday's earnings report to reassure investors that recent stumbles are simply unexpected speed bumps -- and not indications of a road to decline. Tuesday's earnings and conference call are a "moment of truth" for Tesla and Musk, constituting "one of the most important moments in the company's history in our view," said a note from Wedbush.
Elon Musk's Robotaxi dreams plunge Tesla into chaos
Elon Musk's Tesla Inc. faces a tumultuous year with stock plunges, sales decline, and strategic shifts causing chaos. Musk aims for a robotaxi future, scaling back on a mass-market vehicle. Layoffs and internal upheaval follow as Musk asserts wartime CEO mode. Investors and employees are left questioning Tesla's direction amidst regulatory challenges and an uncertain future.
Don't think OMCs and commodities are strategic buys: Mihir Vora
So, it does not matter to me whether the company has had a profitability track record for the last two-three years or not, provided I have a visibility for the future.
Kangna Ranaut pampers herself with second luxury car as she prepares for hard grind of election politics. What is the cost?
Kangana Ranaut has grabbed attention with her latest purchase: a Mercedes-Benz Maybach GLS. This acquisition follows her decision to contest elections from Mandi, Himachal Pradesh, representing the BJP. Known for her affinity for luxury cars, Kangana's new Maybach GLS joins her impressive collection, which includes other high-end models like the Mercedes Maybach S680.
In the green race, auto companies hop on powertrains
Car companies in India are adapting to a mix of powertrain technologies, including petrol, hybrids, and electric, to meet policy initiatives and changing preferences. The market demands diverse options for cleaner and sustainable transport solutions, driving competition and innovation.
Mercedes-Benz, BMW and Audi may steer clear of India's new EV policy
The luxury car makers that have already been present in India for decades would rather accelerate local assembly in the country as the money will need to be ploughed in within three years of receiving approval under the scheme, said auto executives. The aforementioned companies didn’t officially comment on investments under the new policy.
Automakers embrace sustainability: Shift towards recycled materials, biodegradable parts for new models
Corporate-run scrap yards are coming up, creating a new industry of sorts of recyclable parts, while component manufacturers are replacing metal and plastic with innovative biodegradable material. Take Gurgaon-based Paracoat Products, which makes parts that dampen noise, vibration and harshness (NVH) in automobiles. Typically, such parts are made of plastic or wood. Now, the company is experimenting with jute sticks.
Future of vehicles is electric, India's import duty sops a positive, say Audi top execs
India on Friday slashed import duties on premium electric vehicles produced by carmakers that commit to invest at least $500 million and start domestic manufacturing within three years to 15% from 100% (on cars priced upwards of $40,000) or 60% (for those priced below that threshold), a move that may pave way for Tesla's entry into the country.
Car models crowd in as EVs spark in India
India's electric vehicle market is expanding rapidly with government support and increasing consumer awareness. Tata Motors leads the market with a range of popular models, while MG Motor India, Mahindra & Mahindra, and BYD are also prominent players.
EV vs ICE price parity for luxury cars unlikely in near future
Most luxery EVs are imported as low volumes make local assembly unviable. Tata Motors, MG Motor India, and Mahindra & Mahindra are reducing the price disparity between their electric vehicles and traditional petrol/diesel models due to decreasing battery costs. Luxury electric vehicles (BEVs), largely imported and heavily taxed, face challenges due to limited sales volume, making local assembly unfeasible. Industry experts project EV-internal combustion engine (ICE) price parity in the luxury segment by 2028, driven by declining battery costs and regulatory changes.
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