Page 3 - Auto Makers

Mercedes-Benz aims to accelerate sales of electric vehicles in India

With plans afoot to locally assemble its all-electric sedan EQS in India, luxury carmaker Mercedes-Benz is looking to accelerate sales of electric vehicles in the country, according to a senior company official. Mercedes-Benz India plans to bring to the market the locally assembled EQS electric sedan in the fourth quarter of 2022 to add to the all-electric SUV EQC, which was launched as a fully imported unit in October 2020 priced at Rs 1.07 crore. "We have taken a step by step approach in developing electric vehicle strategy in India. EQC was first available in six markets in India and gradually expanded. Now we are in 50 cities with the EQC and the next step is to expand the portfolio with a car, which we believe has a stronger volume appeal and producing it locally," Mercedes-Benz India Managing Director & CEO Martin Schwenk told PTI. Elaborating further on the electrification plans, he said, "When we did the rollout of the brand EQC we actually looked into what safe numbers we

Tesla recalls over 475,000 US cars on technical defects: Report

Tesla is also recalling as many as 119,009 Model S cars assembled from 2014 because of a faulty front-trunk latch

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

ICRA cuts growth forecast for passenger vehicle industry to 8-11% for FY22

For the two-wheeler segment, it said the volumes are expected to contract by 1-4 per cent in FY2022 against an earlier prediction of 6-8 per cent growth

Examining scope for India launch of 50-yr-old Jimny brand: Maruti Suzuki

The auto major currently manufactures three-door Jimny at its Gurugram plant and exports to Middle East and African markets.

Volkswagen expects to double pre-owned car sales to 20,000 units this year

Volkswagen entered the used car market in 2012

MG Motor India to drive in electric vehicle at Rs 10-15 lakh by next fiscal

At present, the company sells electric SUV 'ZS EV' which is available in two variants

Majestic shareholders reject re-appointment of Aashim Munjal as director

Majestic Auto had sought nod from the shareholders at its AGM held on November 29, 2021

Bharat Forge arm hikes stake in electric two-wheeler maker Tork

The EV maker had a turnover of Rs 4.3 crore in 2020-21

Ford partners with GlobalFoundries to increase chip supplies

The two companies announced a non-binding agreement that could involve increasing production capacity for Ford's current lineup

'Next Tesla' tag takes Rivian to $90-billion value without sales

Rivian is the world's fifth-largest automaker by market cap having delivered only a few electric vehicles to customers

Boom Motors forays into EV space; rolls out Boom Corbett at Rs 89,999

The bike features a 2.3 kWh- which can optionally be doubled to 4.6 kWh - giving the vehicle a best-in-class range of up to 200 kms

AM/NS India settles contracts with major auto OEMs at 8-9% price hike

Steel accounts for about 8-9 per cent of the selling price of a car, according to steel industry sources

Volvo Cars reports 48% jump in retail sales in Jan-Sep period

The Swedish automaker sold 1,270 units in the first three quarters of the year as compared with 856 cars in the same period of last year.

Semiconductor shortage dampening festive spirit for electronics, auto firms

The global semiconductor shortage is hitting the Indian mobiles, consumer electronics and automotive sectors hard in the midst of the festive season when sales usually peak, with the automobile industry understood to have piled up around 5 lakh pending orders. While customers usually get bargain deals or handsome festive discounts during this period, this time they are paying higher for a host of items ranging from mobile handsets and TVs to cars due to the chip shortage. Freebies have vanished from most of the automotive showrooms as manufacturers struggle to meet demand. "If you look at the demand parameters, which is reflected in bookings or in queries, they are very good. However, the supply side this year unfortunately is a little muted because of this semiconductor issue. "That is the reason why the number of bookings have built up but supplies have not come," Maruti Suzuki India Senior Executive Director (Marketing & Sales) Shashank Srivastava told PTI. The auto industry, ..

United States decides not to open formal probe of Tesla battery fires

The available data indicate that noncrash battery fires in Tesla vehicles are rare events

FADA seeks clarity from Ford on compensation structure for dealers

Automobile dealers' body FADA has sought clarity from Ford about the compensation structure it is working out for its dealer partners after announcing the closure of its two manufacturing plants

Indian auto parts makers' shares gain on report of talks with Tesla

Shares of Indian auto parts suppliers rose as much as 14% following a report that Tesla was in talks with at least three companies to source critical parts for its planned entry into the country

FADA seeks policy to protect dealers from sudden exit of manufacturers

Also demands industry status for auto retail so it can access priority lending from banks, ECBs, financing from top lenders, PE investments, apart from getting more tax benefits

BMW says chip shortage, raw material prices to hit second half

BMW has so far been relatively less affected by the global chip shortage that some of its peers across the auto industry, which has been attributed to its strong relations with its supplier base