Page 6 - Automobile Industry

Pravaig launches electric SUV Defy at Rs 39.5 lakh; deliveries next year

Electric mobility startup Pravaig Dynamics on Friday launched a sports utility vehicle Defy, tagged at Rs 39.5 lakh (ex-showroom) to compete with the likes of Audi e-tron and Mercedes Benz EQC . The Bengaluru-based company has commenced the bookings of the model and deliveries are expected to begin from the third quarter of next year. The company aims to produce 10 lakh units by 2028 and cater to both domestic and international markets. "At the beginning we will try to address the domestic market and will look at exports in 2024," Pravaig Chief Strategy Officer Ram Divedi told PTI in an interaction here. In the long run 70 per cent of the production would go into the overseas markets, he added. Divedi said Defy is more affordable to own than other competing products in the market. The SUV comes with a driving range of around 500 km and 402 BHP power, he added. Pravaig, which has a manufacturing plant in Bengaluru, plans to commence production with a few thousand units and scale

Castrol to pick up 7.09% stake in TVS family's Ki Mobility for Rs 488 cr

With this deal, which is Castrol's largest all-cash transaction, the firm aims to expand its presence in service and maintenance of ICE vehicles and EVs

Toyota Kirloskar Motor focussing on hybrid vehicles: VC Vikram Kirloskar

Toyota Kirloskar Motor will bring electric vehicles in India in future, but at the moment it is focussing on hybrid vehicles keeping in mind the objective of meeting holistic carbon reduction, company Vice Chairman Vikram Kirloskar said. The company, which on Friday unveiled Innova Hycross -- the new hybrid version of its popular multi-purpose vehicle Innova -- also expects full capacity utilisation at its two manufacturing units in Bengaluru by the middle of next year. "I think the country's objective is to reduce carbon (emission). You have to look at it holistically and (on a) scientific basis and that's what we are doing," he told PTI here, when asked about Toyota Kirloskar Motor's strategy of focussing on hybrids at a time when electric vehicles (EVs) have started gaining traction in India. Kirloskar argued that considering the current low level of renewable energy sources in India, EVs do not necessarily serve the purpose of reducing carbon emissions. He cited a recent study

Pre-owned segment likely to narrow value gap with new cars by FY27: Study

Shift to UVs from sedans, vans, and small cars to drive the trend

Volvo-Eicher looks to make most of post-pandemic recovery in bus market

Aims to disrupt intercity segment with fully-built luxury coaches

Indian techies writing 35% of 100 mn lines of code for the driverless car

Global auto Tier-1 firms already have 50,000-55,000 software engineers working in India, OEMs have another 25,000

Inflows in Tata Motors stock may surge as it replace Dr Reddy's in Sensex

Change effective from Dec 19, but adjustment will take place on Dec 16. After DRL's deletion, Sun Pharma will be the only healthcare stock in the index

Jaguar Land Rover looks to hire laid off tech workers, says report

The carmaker on Friday announced a jobs portal for displaced tech workers to fill 800 roles

Bajaj Auto eyes south east Asia to take e-scooter space by storm

Bajaj's presence in this market in ICE vehicles has been limited till now because the region is essentially a step-through two-wheeler and scooter market

Harley back in saddle: Rides with Hero for 'most affordable' bike

The mid-segment bike will be the first among several models planned, will be sold separately by both companies under their own brands

Brokerages see margin expansion at auto firms as outlook turns positive

Higher volumes and softer raw materials to drive expansion

Ashok Leyland may dilute 15% stake in Switch Mobility, raise up to $250 mn

The company is raising the funds for a new plant planned in Spain

Qualcomm's venture capital arm planning to pick up stakes in EV startups

The company is also open to mergers and acquisitions in the auto tech space

Auto sales up 48% in Oct; all vehicle segments gain in festive season: FADA

Two-wheeler segment up 51%; high demand continues for SUVs and premium cars

Maruti chalks out road to FY24 with 2.4-million production capacity

Maruti Suzuki chairman R C Bhargava says that each year the company, based on workers' suggestions, has saved around Rs 300 crore in costs

India's electric two-wheeler market may miss 1-million unit target

Supply-side glitches, impending govt regulations, fires, and delay in FAME II subsidy handout have forced start-ups to mothball ramp-up plans

Switch Mobility aims to be in EV markets around the globe: CEO

Markets will come back after geopolitical turbulence and each company will have to make its own strategy, says Mahesh Babu

Passenger vehicles get a festive high in October; sales see sharp rise

Availability of semiconductor chips, rising consumer confidence contribute to the growth

MG Motor India logs 53% rise in retail sales at 4,367 units in October

MG Motor India on Tuesday reported 53 per cent rise in retail sales at 4,367 units for October 2022. The company had sold 2,863 units in the same month last year, MG Motor India said in a statement. During the month, the company also achieved its highest ever production monthly milestone at 5,008 units, which included 784 units of electric vehicle (MG ZS EV), it added. The company, which had earlier been plagued by chip shortage, said it was able to enhance production due to "some improvement in semiconductor supplies through localisation initiatives". The production uptick has made the commencement of the deliveries of the company's SUV Astor in both continuously variable transmission (CVT) and automatic transmission (AT) variants possible, it added. "The coming weeks should hopefully see some more improvement," it said.

Key Indian auto executives don't understand compliance obligations: Report

Key management personnel in Indian automobile companies have a poor understanding of compliance obligations that can range from several hundred acts to thousands of rules depending on the size of the business, according to a report by TeamLease Regtech. A small automobile manufacturing company operating in a single state in India deals with at least 900 one-time and ongoing compliances in a year. As the company grows its geographical footprint, the number of compliances multiply. In its report 'Simplifying compliance management for automobile industry', TeamLease RegTech, a regulatory technology solutions firm, said with applicability of compliances changing based on location of manufacturing units, use of specific equipment and end-products, most organisations in India find it really challenging to track adherence to the mandatory requirements. "...it was discovered that the KMPs (key management personnel) in Indian automobile companies have a poor understanding of compliance ...