The week of May 18-24, 2026, was defined by one clear theme: automakers and component makers are preparing for the next growth cycle through partnerships, capacity expansion, electrification and export-led strategies.
Honda Cars India signalled that it is actively looking for partnerships in the country as it seeks scale, cost competitiveness and a stronger product play in a market where SUVs, hybrids and premium models are driving the next phase of growth.
JSW Motors, meanwhile, secured ₹8,000 crore in long-term project finance from State Bank of India to support its new energy vehicle ambitions, marking one of the most significant funding moves in India’s emerging EV manufacturing ecosystem.
Stellantis put India at the centre of its low-cost global manufacturing strategy, with plans to develop and assemble a new Jeep vehicle through its Tata Motors joint venture for international markets. Tata Motors Passenger Vehicles, in turn, outlined a busy FY27 product calendar with two new nameplates and four facelifts across ICE and EV platforms.
The investment push was equally visible in the two-wheeler space. Eicher Motors lined up ₹2,200 crore of capital expenditure for Royal Enfield, as demand for premium motorcycles remained strong in India and overseas markets. Royal Enfield is also evaluating a CKD facility in Mexico after tariff changes, while Hero MotoCorp entered the UK adventure bike market with the XPulse 200 series.
Policy and regulatory developments also remained in focus. The Centre held consultations to speed up electric bus and truck adoption, India notified E30 fuel standards, and NCR-linked states moved towards tighter clean mobility rules for fleet and cab aggregators. At the same time, the expected India-EU free trade agreement started shaping luxury car buying behaviour, with Ferrari dealers reportedly accepting bookings at lower expected prices.
The components industry had an action-heavy week as well. Bosch announced a joint venture with Wheels India and Brakes India for commercial vehicle air systems, Motherson Group guided for ₹6,000 crore capex in FY27, Uno Minda prepared for an execution-heavy year across EV powertrain and sunroof projects, and Apollo Tyres lined up ₹3,500 crore in capex as capacity neared peak utilisation.
Here is a detailed round-up of the key developments that shaped the automotive industry during the week:
Honda Cars Actively Looking for Partnerships in India
Honda Cars India is preparing for one of its biggest product offensives in recent years, targeting double-digit growth in FY2026-27 with six new model launches as the company sharpens its India strategy around SUVs, hybrids and premium offerings.
Speaking at the launch of the refreshed Honda City and the new Honda ZRV SUV, Takashi Nakajima said India has become one of Honda’s top three priority markets globally for future automotive growth.
Honda Cars India Weighs Return of CKD Models, Calls ZR-V a ‘Test Case’
Honda Sharpens City Sedan With Hybrid Tech and Premium Features for New-Age Buyers
JSW Motors Secures Rs 8,000 Crore SBI Funding for New Energy Vehicle Venture
In a major boost to its electric mobility ambitions, JSW Motors Limited has secured Rs 8,000 crore in long-term project finance from State Bank of India to fund its new energy vehicle (NEV) business, sources close to the matter told Autocar Professional. The financing will partly fund the company’s greenfield manufacturing facility at Chhatrapati Sambhajinagar, Maharashtra and the build-out of a domestically anchored NEV ecosystem.
Sources said that the Chhatrapati Sambhajinagar plant in Maharashtra is being developed with an annual installed capacity of 3.5 lakh vehicles and is being set up in partnership with global equipment manufacturers.
India PV Industry Set for ₹3.2 Lakh Crore–₹3.5 Lakh Crore Capex Cycle Through FY30: Ind-Ra
Maruti Suzuki to Hike Vehicle Prices by Up to Rs 30,000 in June
Maruti Suzuki Starts Production At Second Kharkhoda Plant
Stellantis to Develop India-Made Jeep for Global Markets Through Tata Motors Partnership
Stellantis will develop and assemble a new Jeep vehicle in India for global markets through its joint venture with Tata Motors, as the automaker positions India as a key low-cost manufacturing and export hub for its future new energy vehicles.
According to Grégoire Olivier, Head of Asia Pacific region at Stellantis, India will play a central role in Stellantis’ next phase of global growth through its long-standing partnership with Tata Motors as it will provide a “highly competitive platform” for the upcoming Jeep model. “The upcoming Jeep model is expected to become one of five globally-oriented products Stellantis is developing in Asia using local partnerships and lower-cost engineering ecosystems,” he said.
Stellantis To Launch 60 New Models, 50 Refreshes By 2030
Stellantis To Invest €60 Billion By 2030, North America Gets Biggest Share
Tata Motors Lines Up Two New Nameplates, Four ICE And EV Facelifts For FY27
Tata Motors Passenger Vehicles Ltd is preparing for strong product action in FY27, with plans to launch two new nameplates and four facelifts across internal combustion engine and electric vehicle segments, as the automaker looks to sustain industry-beating growth after a record FY26.
Shailesh Chandra, Managing Director and Chief Executive Officer, Tata Motors Passenger Vehicles Ltd, said FY27 would be an “intense product action year” for the company. The company will also benefit from the full-year impact of several products launched in the second half of FY26, including the Sierra, new Punch, Harrier.ev, Punch.ev and petrol versions of Harrier and Safari.
JLR Targets £1.7 Billion Savings As Breakeven Reset Begins
Updated Punch.ev Reignites Tata Motors’ EV Momentum
The updated Punch.ev is giving Tata Motors Passenger Vehicles Ltd fresh momentum in India’s electric passenger vehicle market at a time when fuel-price hikes, supply chain disruptions and intensifying competition are reshaping buyer behaviour.
After the refreshed Punch.ev was launched in February 2026, Tata Motors’ EV sales rebounded strongly in March and April, helped by growing interest from first-time EV buyers. According to FADA data, Tata Motors sold around 8,253 electric passenger vehicles in March 2026, up nearly 65% year-on-year. Its sales rose further to around 8,543 units in April, marking a 77% year-on-year increase.
Jaguar Land Rover and Stellantis Explore US Car Development Partnership
Tata Motors Showcases 11-Vehicle CV Portfolio at Cape Town Event
Ferrari Dealers Begin Taking Bookings at 30% Lower Prices Ahead of India-EU FTA
Ferrari dealerships across India have reportedly started accepting orders at prices estimated to be nearly 30 percent lower than current levels, anticipating the proposed India-European Union free trade agreement (FTA).
These reduced-price bookings are currently being offered only on Ferrari’s pure-petrol models.
According to the proposed FTA terms, import duties on European-built cars priced above 15,000 euros (around Rs 16.82 lakh) are expected to come down from the present 110 percent to nearly 35 percent in the first year, before eventually reducing to 10 percent in the following years.
Eicher Motors Lines Up ₹2,200 Crore Capex For Royal Enfield As Demand Remains Strong
Eicher Motors Ltd is accelerating investments in manufacturing capacity, new products and electric vehicles as demand for premium motorcycles continues to remain strong in India and overseas markets.
The company plans to invest around ₹2,200 crore at Royal Enfield in FY27, of which nearly ₹1,000 crore will go towards capacity expansion, while the remaining amount will be used for new product development and electric vehicle programmes.
Eicher Motors and Volvo Group Establish Vehicle Financing Joint Venture in India
Eicher Arm VECV To Raise Stake In Connected Solutions JV To 74%
Royal Enfield Evaluates Setting Up CKD Plant in Mexico
Royal Enfield is evaluating whether to set up a completely knocked down (CKD) assembly facility in Mexico after the country increased import tariffs on motorcycles, the company’s Chief Executive Officer B Govindarajan said on Thursday.
"The Mexico tariff has been slightly changed. We are studying that. Is there a requirement for us to have a manufacturing facility or not? We are constantly evaluating it,” Govindarajan told reporters after announcing Eicher Motors’ FY26 earnings.
Hero MotoCorp Enters UK Adventure Bike Market with XPulse 200 Series
Ola Electric Calls FY26 A Reset Year, Bets On Volume Recovery In FY27
The company, in its Q4FY26 investor presentation, said it is now looking at volume recovery in FY27, supported by service stabilisation, stronger sales execution, Roadster ramp-up, better store productivity and deeper cell integration across its vehicle portfolio. Ola expects Q1FY27 orders of 40,000-45,000 units, nearly double Q4FY26 levels.
Centre Seeks Industry Collaboration to Fast Track Electric CV Rollout
The consultation included participation from various segments of the electric mobility ecosystem, including fleet operators, transport aggregators, leasing companies, and financial institutions. Senior government officials, including Heavy Industries Secretary Kamran Rizvi and Additional Secretary Hanif Qureshi, were present to discuss the future policy roadmap for the sector and gather direct feedback from industry participants.
India Notifies E30 Fuel Standards as Flex-Fuel Push Gathers Pace
NCR May Stop New Petrol-Diesel Cab Additions
The Haryana government may have discussed and moved forward with a proposal that could restrict the future addition of new petrol and diesel-powered vehicles in fleet aggregator and cab aggregator operations across NCR-linked regions of the state, signalling what could become a wider clean mobility shift across the National Capital Region.
Sources aware of the discussions told Autocar Professional that the broader push is understood to have originated from the Delhi government amid growing concerns around pollution and urban fleet emissions. According to sources, the direction has received positive feedback from administrations and policymakers across other NCR-linked states as well.
Bosch’s India Recast
On May 21, 2026, the German engineering giant Bosch Ltd announced a 50:50 joint venture with the TSF Group’s Brakes India and Wheels India. While the deal might appear to be a localized expansion of air systems for commercial vehicles (CVs), it serves as a microcosm for a much larger, more aggressive transformation as the automotive industry in India is set to evolve rapidly by 2030 and beyond.
This move into advanced, electronically controlled air systems, targeting air compression, processing, and suspension, marks a strategic strike into what Bosch leadership calls white spaces.
Bosch India Flags Global Risks as It Navigates a Cautious FY27
Bosch India Focuses on Localisation and AI to Counter Cost Pressures
Bosch, Wheels India, and Brakes India Form JV for CV Air Systems
Bosch Ltd has entered into a joint venture agreement with Wheels India Ltd and Brakes India Pvt Ltd to develop and manufacture electronically controlled and software-driven air system solutions for commercial vehicles, according to a company press release.
The proposed venture will be a 50:50 partnership between Bosch and the TSF Group companies — Wheels India and Brakes India — and is expected to commence operations by the end of 2026, subject to regulatory approvals.
Bosch Positions Early for CAFE, ADAS and BS7 Tailwinds
Motherson Group Plans Rs 6,000 Crore Capital Expenditure in FY27
Auto component major Samvardhana Motherson International Ltd plans to invest around Rs 6,000 crore in capital expenditure in the 2027 financial year, with half of the spending earmarked for growth projects, and the rest for maintenance and operational requirements. The company would continue investing heavily in emerging businesses, particularly consumer electronics, as it looks to expand beyond its traditional automotive business.
“For FY27, we expect capital expenditure of approximately Rs 6,000 crores, plus or minus 10%,” Chief Financial Officer Gandharv Tongia said. “Of this, 50% will be growth CapEx and 50% maintenance CapEx.”
Uno Minda Plans ₹1,750 Crore Capex as FY27 Expected to Be Execution-Heavy
Uno Minda is entering what management described as a “defining year for execution”, as the automotive component major prepares to operationalise multiple new businesses and manufacturing programmes linked to electrification, premiumisation and higher vehicle electronics content.
Speaking during the company’s Q4 FY26 earnings call, Sunil Bohra, Group CFO, said seven of Uno Minda’s 11 ongoing projects are expected to either commence production or undergo ramp-up during FY27. The company also expects commercial operations to begin in two new segments — EV powertrain and sunroofs — both of which are emerging as significant future growth areas.
Switches to Systems: Uno Minda’s Next Growth Phase Gets More Electronics-Heavy
Uno Minda Eyes Higher Kit Value Per Vehicle in Next Growth Phase
Apollo Tyres Lines Up ₹3,500 Crore FY27 Capex As Capacity Nears Peak
Apollo Tyres Ltd has outlined capital expenditure of ₹3,500 crore for FY27, to expand manufacturing capacity amid strong demand and high utilisation across its India and Europe operations, a senior company official said.
Gaurav Kumar, Chief Financial Officer, Apollo Tyres, said the company’s capacity utilisation stood at around 90% across both India and Europe in Q4FY26. “Given the healthy demand outlook, we expect full capacity utilisation and therefore will continue to progress on our planned expansion initiatives,” he said during the company’s Q4FY26 analyst call.
Apollo Tyres Plans More Price Hikes To Offset Input Cost Shock
ASK Automotive Exiting Low-Value Segments to Drive Margin Growth
ASK Automotive is aggressively retooling its portfolio to prioritize profitability over volume, marking a definitive shift toward higher-value, margin-accretive businesses. In its latest investor presentation, management explicitly highlighted a “Strategic Reduction in low value-added Wheel Assembly business” as a key driver for its recent EBITDA margin improvement.
This transition is near completion; the company disclosed that with effect from April 1, 2026, sales from the wheel assembly segment were nil, allowing the firm to focus entirely on its core, technology-intensive offerings.
Hinduja Leyland Finance Gets Green Light to Merge with NDL Ventures
Subros Flags Rising Labour Costs as Emerging Challenge for Auto Component Sector
Subros has indicated that rising labour costs and wage settlements are emerging as an additional pressure point for automotive component manufacturers, alongside elevated commodity prices and global supply chain disruptions.
The company reported revenue from operations of Rs 3,755 crore for FY26, up 11.52% year-on-year, while profit after tax increased 10.22% to Rs 165 crore. In the March quarter, revenue rose 15.55% year-on-year to Rs 1,049.76 crore, while profit after tax stood at Rs 49.69 crore.
Subros Says EV, Hybrid and CNG Thermal Systems Contribute 25% of Revenue
ICE Not Going Away, Points Out Subros
SEDEMAC Ramps Up Capacity As FY26 Revenue Crosses Rs 1,000 Crore
SEDEMAC Mechatronics is scaling up its manufacturing footprint after closing fiscal year 2026 with its strongest financial performance to date, as the company moves to consolidate its position in automotive control systems, according to a recent investor presentation.
The Pune-based firm reported a 61% year-over-year jump in revenue to Rs 1,058 crore in FY26, crossing the Rs 1,000-crore milestone for the first time. Profit after tax rose 119% to Rs 104 crore, while return on capital employed stood at 40%, reflecting strong operational efficiency and growing scale in a competitive electronics segment.
Dhoot Transmission Files DRHP for IPO With ₹1,400 Crore Fresh Issue
Bain Capital-backed Dhoot Transmission has filed its Updated Draft Red Herring Prospectus (UDRHP-1) with the Securities and Exchange Board of India (SEBI) for an initial public offering comprising a ₹1,400 crore fresh issue and an offer for sale (OFS) component by existing shareholders. The total IPO offering is around $250 million, sources noted.
The offer for sale includes up to 1.63 crore equity shares from promoter and promoter group shareholders. BC Asia Investments XV Limited will offload up to 1.31 crore shares, while Mangalam Capital Private Limited plans to sell up to 31.18 lakh shares. The final size of the OFS component will depend on pricing.
India is World’s Largest Electric 3w Market for Third Year in a Row
India, which ranks amongst the fastest growing markets for electric vehicles, has topped global electric 3-wheeler retail sales for the third year in a row. This confirmation comes from the latest Global EV Outlook 2026 report released by the International Energy Agency (IEA).
The report states that China, the world's largest electric vehicle market, registered e-3W sales of around 290,000 units in CY2025, down 3% YoY (CY2024: 300,000 units), continuing a trend that began in CY2022. This is far less than India, which clocked record retail sales of 801,431 e-3Ws last year, up 15% YoY (CY2024: 695,278 units).
The Second Act of Satish Sharma
When Satish Sharma, Senior President & Director (Business Development and Strategy), walked in to lead BKT's ambitious "0 to 1" foray into the B2C market, he wasn't looking for a comfortable retirement lap. After decades at Apollo Tyres, a legacy heavyweight, he was stepping into a new business where he needed to build things from the ground up.
The promoters, Rajiv and Arvind Poddar, greeted him with two uncompromising mandates: build an enduring business that would last for generations, and ensure the product quality was the absolute best in its class.
India To Become World’s 3rd Largest Used Car Market By 2031: Redseer Report
Entry, Exit, Elevation
Mahindra Appoints Former Unilever Executive Purnima Lamba as Chief Brand Officer
Mahindra Group has appointed former Unilever executive Purnima Lamba as its chief brand officer effective Sept. 1, as the Indian conglomerate looks to sharpen its global corporate brand strategy and strengthen its digital and consumer-facing communication initiatives.
Lamba, who spent around 25 years at Unilever across India, the UK and the Netherlands, will lead Mahindra’s corporate brand and communications strategy and oversee brand consistency across the group’s businesses, the company said in an exchange filing on Wednesday.
Eicher Motors Appoints Vinod Kumar Aggarwal as Executive Vice Chairman
Eicher Motors Limited announced leadership changes following a board of directors meeting on May 21. The automaker appointed Vinod Kumar Aggarwal as the Executive Vice Chairman and designated Pradeep Mathew as the Chief of Product Development.
Aggarwal assumes the executive role immediately for a three year tenure, pending shareholder approval. The industry veteran holds 45 years of experience, with 43 years spent within the Eicher Group. His previous leadership roles include serving as the Chief Financial Officer between 2005 and 2009, and leading VE Commercial Vehicles for over 16 years as Chief Executive Officer and Managing Director.
Aggarwal, who currently serves as the Non Executive Chairman of the VECV joint venture, has been on the board of the parent company since April 2019.
Ashutosh Dugal Joins Hero MotoCorp’s VIDA To Lead Customer Success Function
Force Motors Appoints Ravi Agrawal as General Manager and Head of Marketing
Bosch Appoints Former 3M India MD Ramesh Ramadurai As Independent Director
Fiem Industries CEO Vineet Sahni Steps Down
Fiem Industries Limited announced on May 19 that Vineet Sahni has resigned from his position as Chief Executive Officer and Whole time Director of the company. The automotive lighting and component manufacturer confirmed the leadership change through a regulatory filing submitted to the stock exchanges.
In his formal resignation letter addressed to the board of directors, Sahni cited personal reasons and a decision to pursue other interests as the primary factors for his departure. The outgoing executive explicitly confirmed in the regulatory document that there were no other underlying reasons prompting his decision to step down from the leadership role.
Earnings Report Card
Eicher Motors Reports Record FY26 Profit, Q4 PAT Up 12%
Eicher Motors Ltd on Thursday reported a 12% year-on-year rise in consolidated net profit for the quarter ended March 31, at ₹1,520 crore, driven by higher Royal Enfield motorcycle sales and improved performance at VE Commercial Vehicles.
The company’s consolidated revenue from operations rose 16% on year to ₹6,080 crore in Q4 FY26. EBITDA came in at ₹1,514 crore, up 20% from ₹1,258 crore in the year-ago period while EBITDA margin stood at 24.9% compared to 24% in Q4 FY25.
Mahindra and Mahindra Concludes FY26 with Steady Growth Across Segments
Tata Motors Body Solutions Swings to Profit as Asset Light Strategy Pays Off
Tata Motors Body Solutions Ltd (TMBSL) has achieved a financial turnaround, posting a net profit of Rs 1.7 crore for FY25. This performance marks a decisive end to a period of deep financial distress, during which the company recorded cumulative losses exceeding Rs 250 crore over the previous four fiscal years. The company is yet to release its FY26 financial results.
The turnaround centers on the Material Acquisition and Support Optimisation Project (MASOP), a strategic restructuring implemented in the second half of FY25. Under this framework, TMBSL has moved away from purchasing its own raw materials. Instead, parent company Tata Motors (TML) provides the chassis and necessary materials, allowing TMBSL to operate as a specialized job-work partner focused strictly on assembling and integrating bus bodies and other body solutions.
Endurance Tech’s FY26 Income Rises 26%, Europe Growth Gets Acquisition Boost
Bosch Ltd Q4 Revenue Rises 13.3%; FY26 PAT at Rs 2,770 Crore
Bosch Limited reported a 13.3% year-on-year increase in revenue from operations for the fourth quarter of FY26 at Rs 5,566 crore, driven by higher demand across the automotive market, including two-wheelers.
Profit before tax before exceptional items rose 3.8% year-on-year to Rs 808 crore during the January-March quarter, while profit after tax stood at Rs 568 crore.
For FY26, the company reported revenue from operations of Rs 20,035 crore, up 10.8% from the previous year. Profit before tax, including exceptional items, stood at Rs 3,642 crore, while profit after tax rose to Rs 2,770 crore, accounting for 13.8% of revenue from operations.
Ajax Engineering FY26 PAT Falls 13%; Revenue Rises 1%
Spark Minda Posts Record FY26, Expands EV Technology Push
Spark Minda reported its highest-ever annual revenue and operating profit for FY26, supported by strong demand across vehicle segments and a growing focus on premium automotive technologies.
The company posted consolidated revenue of ₹6,185 crore in FY26, up 22.3% year-on-year, while EBITDA rose 25.5% to ₹721 crore with margins improving to 11.7%. Profit after tax increased 40.3% year-on-year to ₹358 crore.
Remsons Industries Posts 26% Profit Growth in FY26, Revenue Jumps 24%
SAMIL Q4 Revenue up 17%; FY26 Revenue Crosses Rs 1.26 Lakh Crore
Auto components maker Samvardhana Motherson International Limited reported a 17% year-on-year rise in consolidated revenue for the fourth quarter of FY26 at Rs 34,309 crore, while annual revenue crossed Rs 1.26 lakh crore for the first time.
The company reported EBITDA of Rs 3,805 crore and normalized profit after tax of Rs 1,674 crore for the January-March quarter. For FY26, revenue stood at Rs 1,26,104 crore, EBITDA at Rs 12,033 crore and normalized PAT at Rs 4,258 crore.