Autocar Professional - Latest Articles

Sany Heavy Industry India expands presence in Odisha

Autocar Professional Bureau — Fri, 26 Apr 2024 18:58:07

Sany Heavy Industry India Pvt Ltd, a leading global provider of construction machinery and equipment, on Friday announced opening of HO, M/s Raghunath Machinary. The inauguration ceremony, presided over by Deepak Garg VC & MD Sany India & South Asia, took place on April 24, 2024.

The establishment of this state-of-the-art facility underscored Sany Heavy Industry's commitment to its customers in South Odisha and Western Odisha regions. The strategic location of the office enabled the company to offer seamless access to sales, service, and spare parts, thereby enhancing customer satisfaction and operational efficiency, Sany Heavy Industry India said in a statement.

"This expansion reflects our dedication to better serving our valued customers in the region. By bringing our comprehensive range of services closer to them, we aimed to further strengthen our relationships and deliver superior value." Garg said.

"This new office in Rayagada will serve as a hub for sales, service, and spare parts, enabling us to address the evolving needs of the construction industry in Odisha and Western Odisha." he added.

Sany India, has lined up Rs 1000 crore over next three years as it strides to expand its capacities to meet the rising demand.

Deepak Garg, MD of Sany Heavy Industries (India), spoke with Autocar Professional at an industry event and announced that due to reaching maximum capacity at their plant in Pune, they have begun construction on new sheds. The company currently occupies approximately 60,000 square meters for manufacturing, but plans to expand by adding another 125,000 square meters of space.

"We have a capex of Rs 1000 crore plus in the next three years time," he said.

Wardwizard Innovations & Mobility Q4 profit jumps threefold

Autocar Professional Bureau — Fri, 26 Apr 2024 18:36:06

Wardwizard Innovations & Mobility Limited, a leading manufacturer of electric vehicles under the brands 'Joy e-bike' and 'Joy e-rik', reported a consolidated net profit of Rs 3.97 crore in Q4FY24, a threefold increase from Rs 0.93 crore in Q4FY23.

The company's revenues during Q4FY24 stood at Rs 128.26 crore, up from Rs 50.76 crore in Q4FY23.

Yatin Sanjay Gupte, Chairman & Managing Director, Wardwizard Innovations & Mobility Limited, said, “FY24 has been a year of strengthening our position in the market while driving innovations and celebrating new accomplishments. In the last financial year, we achieved the sales milestone of 1 lakh electric two-wheelers (since inception) which shows the trust of the customers on the brand. We are dedicated to lead the way towards a sustainable future with new innovations and developments. Our recent unveiling of a ground-breaking hydrogen-powered e-scooter prototype followed by our strategic partnership with global players for technology advancements."

"In FY25, we shall be working effectively in enhancing our portfolio, expanding our presence as well as strengthen our R&D capabilities. We are further expected to launch newer models of electric vehicles, poised for even greater innovation and growth. Our efforts will continue to pave the way for next-generation technologies, ensuring our position at the forefront of the industry,” he further added.

JBM showcases zero emission electric luxury coach ‘GALAXY’ and City Bus ‘ECOLIFE’ at Bus2Bus, Berlin 2024

Autocar Professional Bureau — Fri, 26 Apr 2024 13:15:11

JBM Electric Vehicles, one of India’s leading electric bus manufacturer and EV Ecosystem provider announced its zero-emission luxury coach ‘GALAXY’ and electric citybus ‘ECOLIFE’ at the Bus2Bus 2024 in Berlin.

The buses unveiled by Nishant Arya, Vice Chairman and MD, JBM Group are designed based on global European standards, the company said in a statement on Friday.

JBM claims to be working purposefully towards building a comprehensive and intelligent EV ecosystem ‘JBM E-Verse’ that seamlessly integrates electric vehicles, battery technology, power infrastructure, fast charging infrastructure, and power electronics and has expertise in customising them based on various geographies across the globe.

JBM Electric Vehicles is the flagship company of the USD 3 billion global conglomerate, JBM Group. With the world's largest dedicated integrated electric bus manufacturing facility outside China, JBM EV has a capacity to manufacture over 20,000 buses annually.

JBM EV boasts extensive experience having deployed and currently executing over 6500 electric buses across various geographies and applications globally. Over the past years, JBM electric buses have clocked over 100 million e-kilometers, serving more than 1 billion passengers to date. Committed to further growth and sustainability, JBM aims to surpass 1 billion e-kilometers and cater to over 10 billion passengers within the next 3-4 years.

Nishant Arya, Vice Chairman & MD, JBM Group said, "Aligned with our Net Zero 2040 targets, we are on our mission to lead the charge in decarbonizing city and intercity travel, setting new sustainable benchmarks globally. We take pride in providing safe, clean, noise-free, energy-efficient and sustainable public transport solutions. Drawing from our extensive expertise and experience in deploying electric mobility solutions worldwide, we are thrilled to introduce two new products here at Bus2Bus, demonstrating our dedication to the European market. Both ECOLIFE and GALAXY have been meticulously crafted to deliver safe, hassle-free services, ensuring best in class total cost of ownership for our customers"

He further added, "Public transport is a realm of high customization, with each city and customer having unique requirements. We collaborate closely with various stakeholders to tailor our electric mobility solutions to meet their specific needs".

Tata Motors inaugurates new commercial vehicle spare parts warehouse in Guwahati

Autocar Professional Bureau — Fri, 26 Apr 2024 13:04:30

Tata Motors, India’s largest commercial vehicle manufacturer, announced on Friday the inauguration of a new commercial vehicle spare parts warehouse in Guwahati. The facility, which is made to be fully digitalised, spans 1 lakh square feet, stocking spare parts for the entire commercial vehicle portfolio. The addition of the new facility will enable the company to achieve faster turnaround times and easier availability of spares at Tata-authorised service stations in the North East.

Tata Motors has partnered with Delhivery, a leading integrated logistics services provider, to leverage its technology-enabled warehousing and transportation solutions. The facility also boasts cutting-edge storage systems catering to diverse needs, including gravity spiral and vertical reciprocating conveyors. Additionally, a designated area for handling medium and heavy vehicle body parts has been integrated to ensure seamless operations.

Vikram Agarwal, Head – Spares and Non-Vehicular Business, Tata Motors Commercial Vehicles, said, “The inauguration of the new warehouse in Guwahati is a testament to Tata Motors' customer-centric approach and will further enhance the vehicle ownership experience by ensuring easy availability of spares. The new warehouse will enable smarter inventory management at Tata Authorized Service Stations in the region, thereby enhancing service quality and vehicle uptime. This new facility brings us closer to our customers in the fast-progressing region of the North East, making logistics more efficient."

Tata Motors offers a wide range of sub-1-tonne to 55-tonne cargo vehicles and 10-seater to 51-seater mass mobility solutions, ranging in small commercial vehicles and pickups, trucks, and buses segments to address the evolving needs of logistics and mass mobility segments. The company has an extensive network of 2500+ touchpoints.

Tata Elxsi rides transportation growth wave

Autocar Professional Bureau — Tue, 23 Apr 2024 20:15:01

Tata Elxsi Ltd., a design and technology services company, saw its transportation segment surge 24.6% year-on-year in FY24, now accounting for nearly half (49.9%) of its Software and Design Services (SDS) revenue. The company attributed the growth to a string of deals in electric vehicles, software-defined vehicles (SDVs), and with original equipment manufacturers (OEMs).

This rise in the transportation business coincides with a 21.6% jump in Tata Elxsi's net profit to Rs 792.2 crore for FY24 compared to Rs 755.2 crore the year before. Operating revenue also climbed 13% to Rs 3552.1 crore from Rs 3144.7 crore.

"Our transportation business grew strongly at 24.6% YoY, and now accounts for 49.9% of our overall SDS revenues," said Manoj Raghavan, CEO and Managing Director, Tata Elxsi.

"OEMs now constitute over 56% of the transportation business, and we are now embedded into the SDV programs of five global OEMs".

According to the company's investor presentation, the U.S. market contributes the most (38.3%) to its business, followed by Europe (39.6%) and the rest of the world (22.1%).

Highlighting key deals, Tata Elxsi revealed being chosen as a strategic partner for the SDV organization of a major global automotive OEM. Additionally, they secured a strategic partnership with another global OEM for infotainment, ADAS, and EV software within their SDV program. They also won the TETHER connected vehicle platform project from a top-tier automotive OEM and secured a contract to design and develop a Level 3+ autonomous driving system for commercial vehicles.

Capex for EV components to exceed Rs 25,000 crore in the next 3-4 years: ICRA

Autocar Professional Bureau — Tue, 23 Apr 2024 15:43:31

The capital expenditure for electric vehicle components in India is expected to exceed Rs 25,000 crore over the next three to four years, rating agency ICRA claimed on Tuesday.

While the e-2W component market is projected to cross over Rs 1,00,000 crore by 2030, the e-PV component is projected to reach another Rs 50,000 crore at least, in terms of revenue potential, ICRA added in its latest note. Furthermore, the demand for EV batteries in domestic sales is likely to touch 15 GWh by 2025 before moving up to 60 GWh by 2030, the report added.

ICRA in a statement stated that spurred by government support in the form of subsidies, enhanced awareness, and increasing product launches, the electric vehicle (EV) segment in India has seen a significant upturn in prospects over the past two years. A confluence of factors such as improving product portfolio, charging infrastructure, and financing availability and a gradual decline in battery prices are likely to aid in the acceleration of EV penetration across segments over the medium term. EV penetration reached 4.7% in FY2024, with much of it driven by the electric two-wheeler (2W) segment, although e-three-wheelers (e-3Ws) and electric buses have also contributed to the same.

The report by ICRA explains that at the moment, only around 30-40% of the EV supply chain is localised. Chassis components that require minimal technology upgradation are manufactured locally.

There has been substantial localisation in traction motors, control units, and battery management systems over the years. However, advance chemistry batteries, which remain the most critical and the costliest component, accounting for almost 35-40% of the vehicle price, are imported.

The low localisation levels give rise to manufacturing opportunities for domestic auto component suppliers. For parts that are already used in internal combustion engine (ICE) vehicles, there could be technological advancements in certain cases, resulting in higher content per vehicle.

Shamsher Dewan, Senior Vice President and Group Head – Corporate Ratings, ICRA said: “Battery cells are currently not manufactured in India, and thus most original equipment manufacturers (OEMs) rely on imports. Manufacturing operations in India are limited to the assembly of battery packs."

"To achieve mass-scale penetration of EVs and a competitive cost structure, India will need to create its own eco-system for developing battery cells locally. The battery manufacturing space is thus garnering a lot of attention."

In ICRA’s view, the demand for EV batteries in India (for domestic sales alone) is expected to reach around 15 GWh by 2025 and roughly 60 GWh by 2030. However, multiple challenges exist for the establishment of a cell manufacturing ecosystem, the primary ones being technological complexity, high capital intensity, and raw material availability. The ability of battery manufacturers to enter into agreements/alliances with players across the value chain to mitigate these risks, coupled with the creation of a robust framework for recycling, would remain key.

ICRA expects EVs to account for around 25% of domestic 2W sales and 15% of passenger vehicle sales by 2030, translating into strong market potential for EV components. Accordingly, the rating agency projects the Indian e-2W component market potential to exceed Rs 1,00,000 crore by 2030, while the e-passenger vehicle (e-PV) component is foreseen at another Rs 50,000 crore at least, in terms of revenue potential for ancillaries. The actual growth for domestic auto component suppliers would depend on localisation levels and value addition.

Commenting on the investments by auto component suppliers, Dewan added, “Auto ancillaries have started investing in the EV components space to capitalise on this opportunity, and companies have entered into collaborations/joint ventures (JVs) in cases of technological impediment. ICRA expects at least Rs 25,000 crore of capex for EV components in the next three-four years, for capacity building, technology and product enhancements.

About 45-50% of this, would be towards battery cells. The PLI scheme, recent e-vehicle policy and state incentives would also contribute to accelerating capex. The larger projects (especially for battery cell localisation) are expected to be funded partly by debt initially. There is also substantial private equity interest in this space. Capex for components other than batteries is expected to be funded largely through internal accruals.”

Engine and drive transmission components will be impacted by the EV transition. EV adoption could also have a bearing on aftermarket demand because of fewer moving parts. However, supplies to alternate applications, new products, and export opportunities are likely to mitigate the impact to an extent. Further, migration to EVs is expected to be gradual, and ICE components will continue to have sizeable demand over the medium term.

Naxnova acquires Austria based Advanced Thermal Technologies

Autocar Professional Bureau — Sat, 13 Apr 2024 20:40:34

Naxnova, formerly known as Classic Stripes and a leading supplier of surface augmentation and technology solutions, has announced its successful acquisition of Advanced Thermal Technologies (ATT), a thermal management solutions provider based in Austria.

ATT has earned recognition for its design, development, and manufacturing of advanced driver assistance systems (ADAS) sensor and camera heating solutions, along with a range of other innovative thermal management solutions catering to industries such as automotive, aerospace, retail, and building. With prestigious clients like Porsche, Airbus, and Daimler, ATT brings a wealth of expertise and reputation to Naxnova's portfolio.

Salil Musale, Managing Director of Naxnova, shared "This acquisition strengthens Naxnova's commitment to innovation and customer delight. By combining our strengths with those of Advanced Thermal Technologies, we aim to accelerate product development, expand market reach, and create new opportunities for collaboration and partnership. These ingenious solutions in the field of Thermal Management will become a huge requirement for OEMs globally to ensure safety monitoring, and enhance human comfort. ATT stands out as one of the very few companies that have advanced technology in thermal science.”

“With this acquisition, we aim to commercialise these products with our current customers and new customers in India. This acquisition combined with our earlier announced acquisition of Quad Industries, Belgium is a perfect example of our Hon’ble Prime Minister’s vision of Design and Make in India for the World,” he further added.

By integrating ATT's advanced technologies into its offerings, Naxnova aims to deliver enhanced value to customers across sectors globally, with a particular focus on India. The acquisition not only strengthens Naxnova's capabilities but also accelerates the development and commercialization of next-generation thermal management solutions.

Uno Minda lays foundation for Rs 542-crore greenfield alloy wheel plant in Haryana

Autocar Professional Bureau — Wed, 10 Apr 2024 18:41:23

Tier 1 major Uno Minda has marked a significant milestone with the groundbreaking ceremony of its upcoming greenfield passenger vehicle (PV) alloy wheel plant with a capacity of 120,000 wheels per month at IMT Kharkhoda, Haryana. The groundbreaking ceremony was graced by esteemed dignitaries, including the company's OEM customers, government officials, and Uno Minda's senior management.

The plant with a capital outlay of Rs 542 crore will be set up in a phased manner over the next five years, with its first phase getting commissioned in Q2 FY26.

Uno Minda had recently secured an allotment of a strategic land parcel of 94.32 acres at IMT Kharkhoda, Haryana HSIIDC, to fuel its ongoing and future expansions. A part of this land - around 25 acres has been designated for this greenfield alloy wheel plant. The company says its proactiveness in acquiring the land and commissioning the greenfield project demonstrates its commitment to staying ahead of the curve in the rapidly evolving Indian automotive landscape.

Interestingly, Haryana's IMT Kharkhoda is evolving as a thriving industrial centre with India's largest carmaker - Maruti Suzuki India - undertaking the construction of its 250,000-unit capacity plant slated for commissioning in CY2025. Several automotive component makers, including the likes of Uno Minda and Jay Bharat Maruti, too have started laying foundation stones for their upcoming plants in this industrial township.

The authorities are further boosting the region by offering streamlined clearances under one roof. The company says the location offers it logistical advantages for sourcing and supply with its various suppliers and customers at the Industrial Township as well as in the vicinity.

Considering the growth prospects as OEMs announce large capacity expansions, Uno Minda says it is also strategically aligning its own growth trajectory. The company has been proactively securing land parcels in all major auto hubs across the country in to be ready to meet the growing demand from OEMs. In CY23, the company had acquired 86 acres of land at Khed City Industrial Park, Pune followed by recent acquisition of 37 acres in Hosur Tamil Nadu and 94.32 acres in IMT Kharkhoda Haryana. The Company is also in process of acquiring land parcel in Gujarat.

As per Uno Minda, these acquisitions also mark a shift in its strategy, moving from buying pocket of land as per the exact requirement every time we expand to buying a large plot of land to meet current and as well as future needs. This revised strategy offers two key advantages. Firstly, Uno Minda avoids delays associated with land acquisition by having readily available land, enabling a quicker response to growth opportunities. Secondly, larger plots allow for building bigger plants and consolidating existing ones, leading to improved operational management and economies of scale.

According to Nirmal K Minda, CMD, Uno Minda Group, “Over the past two decades, our company has achieved sustained growth, resulting in multiple plants at various locations. To propel ourselves to the next leg of growth, we are embarking on a strategic expansion plan. This plan involves the establishment of large-scale, technologically advanced megafactories alongside the consolidation of existing facilities for enhanced operational efficiency and economic optimisation. As part of this plan, we started construction of mega 4W lighting in Pune Khed city last year and now groundbreaking for the 4W Alloy wheel plant at IMT Kharkhoda."

"We remain firmly optimistic about the long-term prospects of the industry and are committed to contributing to the “Aatmnirbhar Bharat” initiative through the domestic manufacturing of cutting-edge technologies," he said.

Tessolve and NXP collaborate for productisation of digital connected clusters for mass-market two-wheelers

Autocar Professional Bureau — Wed, 10 Apr 2024 18:40:10

Tessolve has collaborated with NXP Semiconductors to advance the productisation of a mass-market digital connected cluster reference design based on NXP’s i.MX RT1170 crossover MCU, AW611 Wi-Fi/Bluetooth combo chip, KW45 Bluetooth LE smart access MCU and PF5103 multi-channel PMIC.

This collaboration aims to deliver an industry-leading solution to OEMs, offering sophistication and ease of integration into vehicles with minimal customisation requirements.

By offering this product solution, Tessolve significantly streamlines the evaluation, development, and deployment processes for OEMs seeking to integrate cutting-edge digital cluster solutions into their vehicles. This synergy ultimately reduces complexity, costs, and time-to-market for OEMs, the company said in a statement.

Tessolve’s Digital Connected Cluster, powered by the NXP i.MX RT1170-based SMARC SoM, is tailored for the 2-wheeler and 3-wheeler market and boasts automotive compliance.

Featuring a 5” display (upgradeable to 7”), NXP chipsets for BLE and Wi-Fi 6 connectivity, multi-channel power management, and CAN interface, this complete solution is production-ready and primed for deployment.

Dan Loop, Vice President and General Manager of Automotive Edge Product Lines, NXP said, "High-resolution digital displays play a pivotal role in ensuring the safe operation of electric vehicles (EVs) with limited range. They furnish drivers with indispensable information, including battery status updates, navigation guidance, and the whereabouts of nearby charging stations."

"The NXP solution delivers advanced graphics along with smartphone connectivity to enable a rich user experience in a very cost-effective system solution. The production ready DCC platform now makes it that much easier for customers to get their products to market quickly," he added.

Kiran Kumar Nagendra, AVP- Embedded Systems, Tessolve said, " Our NXP i.MX RT1170-based cluster with advanced performance graphics and rich wireless and audio connectivity delivers a digital driving experience that takes us into the future of two-wheeler mobility. Built using Tessolve’s 3-D product engineering principle, which stands for, Development platform, Deployable system, or Derivative solution, our cluster can be adopted by OEMs either “as is” or can be customised for their needs. Tessolve accelerates OEMs’ time to market with exceptional ODM abilities, offering digital cluster white labelling as well”.

Tessolve is a leading System productisation and Silicon Engineering solution provider, operating in 10 countries across US, Europe, and APAC regions with in-house infrastructure and world-class lab facilities with a global Engineering strength of 3000 Engineers.

It offers product development from concept to manufacturing as an ODM, focused on Automotive, Industrial IoT, Avionics and semiconductor market segments accelerating time to market through ready-to-use System on Modules and Application System Solutions, through deep domain expertise, innovative ideas, process-oriented approach, established ecosystem partnerships, including supply chain & postproduction life cycle management.

Michelin, Antin and Enviro form JV for tyre recycling plant in Sweden

Autocar Professional Bureau — Fri, 23 Feb 2024 20:41:16

Michelin, Antin and Enviro have finalised a shared investment plan for the construction of a first end-of-life tire recycling plant in Uddevalla, Sweden.

The project will be based on Enviro’s unique pyrolysis technology with the ability to extract raw materials from multi-component products.

The joint venture has secured a series of multi-year contracts for the supply of used tires and the upcycling of recovered carbon black and pyrolysis oil. This first plant will have capacity to recycle approximately 35,000 tonnes of used tyres annually and to create up to 40 green jobs in the local community.

Antin is a majority shareholder of the JV, Michelin a minority shareholder and Enviro has the option to become a significant minority shareholder.

The first factory, based in Uddevalla, Sweden, has obtained all the necessary environmental and building permits and authorisations. Construction has already begun, and the plant is expected to be operational in 2025.

With an initial aim to process approximately 35,000 tonnes of used tyres annually, the plant should create up to 40 green jobs in the local community during its first phase.

In addition to obtaining financing for the construction of the industrial plant, the joint venture signed a series of multi-year contracts regarding the supply of end-of-life-cycle tires as well as recovered carbon black and pyrolysis oil.

In this context, Michelin continues its approach of proactively supporting the development of used tire recycling ecosystems and is committed to collaborating on the future developments of this joint venture. As an example, Michelin has signed a multi-year supply agreement regarding carbon black and pyrolysis oil.

As previously announced, the joint venture plans on building factories throughout Europe targeting a total annual recycling capacity of one million tons of used tires. Once the Uddevalla plant begins operating, the joint venture will undertake the construction of additional factories in other European countries in order to ensure a rapid rollout of this technology. Antin and Enviro have already agreed to a financing plan for the construction of these factories.

The volume of tires that reach the end of their life cycle and are then discarded has continued to rise, now annually amounting to 3.5 million tons within Europe alone. This joint venture was established to develop used tire recycling throughout Europe, producing sustainable raw materials. Foremost among these materials produced are recovered carbon black and oils that may then be used in the manufacturing tires and in the petrochemical industry. By replacing virgin carbon black with the joint venture’s recovered material, it is possible to reduce the emissions arising from the use of conventional carbon black by more than 90%.

“Michelin has strongly supported the creation of this joint venture between Enviro and Antin. The undertaking began in 2020 when Michelin became a shareholder in Enviro to support the maturation of this technology. Today, we are moving on to a new step with the finalization of the investment for the construction of this first factory in Sweden. The launch of this ambitious industrial program, which is expected to be developed on a European scale, perfectly echoes the strategic objectives of the Michelin Group to reach 100% renewable and recycled materials by 2050, reducing the overall environmental impact of its tires,” states Maude Portigliatti, High-tech Materials Business Director – Member of the Michelin Group Executive Committee.

“Antin is delighted to join Enviro and Michelin to announce approval for the construction of the first of several plants planned by the joint venture. We are excited to help create a fully circular platform which will restore end of life tires to its constituent raw materials that will be sustainably used over and over again. This is part of Antin NextGen’s strategy to focus on proven technologies that require substantial capital to scale.” adds Anand Jagannathan, Antin Senior Partner.

“The plant in Uddevalla will be the joint venture’s first full-scale tire recycling plant and a first important step in our joint effort to create the world’s first large-scale tire recycling group. Together we will play a crucial role in the industrial transformation needed for a more sustainable future”, says Alf Blomqvist, Chairman of Scandinavian Enviro Systems.

Tata Motors surpasses Maruti Suzuki to become India’s most valued automaker

Autocar Professional Bureau — Tue, 30 Jan 2024 22:16:15

Tata Motors Ltd today surpassed Maruti Suzuki India Ltd on the stock market to become the most valued automaker in India in terms of market capitalisation. As per Tuesday’s closing price on the National Stock Exchange, the combined market capitalisation of Tata Motors and Tata Motors DVR shares stood at Rs 3.17 lakh crore, compared with Rs 3.13 lakh crore of Maruti Suzuki.

Tata Motors topped after the automaker’s shares rose as much as 5.3% to Rs 885.95 in today’s intra-day trading before settling at Rs 864.90. Tata Motors' DVR also scaled a new high of Rs 589.40 and closed at Rs 572.60 on Tuesday. Shares of India’s largest passenger carmaker Maruti Suzuki closed at Rs 9,950 today.

DVR refers to differential voting right, which is a special class of shares issued by the company that carry different voting and dividend rights compared to the regular equity shares.

Tata Motors was the first company to issue DVR shares on the Indian stock exchange. DVRs were issued in November 2008 to fund the company’s $2.3 billion acquisition of Jaguar Land Rover from Ford Motors.

So far this year, shares of Tata Motors gained around 10%, while those of Maruti Suzuki lost 3.4%. Promoters and promoter groups of Tata Motors hold 46.3% shares of the company, while the public holds the rest. In July, the automaker announced its plans to cancel DVR shares and issue seven new ordinary shares for every 10 DVRs, in a bid to simplify its capital structure. The cancellation is expected to be completed by the middle of the next financial year.

Tata Motors is currently the largest commercial vehicle maker and third largest passenger vehicle manufacturer in the country. The group’s global wholesales, including Jaguar Land Rover, rose 9% on year during the October-December quarter to 338,177 units. The automaker is also the market leader in the domestic electric car market with a share of over 80%. It sold 69,153 electric passenger vehicles in the calendar year 2023.

The company has planned two pure electric vehicle architectures in the coming year, eyeing a portfolio of ten electric vehicle models. It will share the Jaguar Land Rover brand’s premium EMA electric vehicle architecture for the Avinya range of cars while it has introduced an all-new Pure EV compact vehicle architecture called ACTI-EV or ACTIV, which will power the upcoming Harrier, Curvv and Sierra. The recently launched Punch EV is on the ACTIV platform.

Honda Cars India announces nationwide Festive Car Service Camp

Autocar Professional Bureau — Mon, 16 Oct 2023 12:39:43

Honda Cars India Ltd. (HCIL)has announced the commencement of its nationwide Festive Car Service Camp at authorised dealership facilities across the country from October 16- 20, 2023.

During this period, the company will provide a variety of services including a complimentary Car check along with tyre and battery checks to ensure vehicle best condition. As part of the ongoing festivities, customers will also be entitled to a Festive discount on vehicle parts and labour, along with a complimentary car wash. They can also avail of lucrative discounts on Value Added Services (VAS) beautification, Paint treatment and avail exclusive discounts on tyre purchases.

Speaking about this initiative, Kunal Behl, Vice President, Marketing and Sales, Honda Cars India said, "We are delighted to extend our warmest wishes to all our customers for the ongoing festive season. As part of the celebrations, we are pleased to announce a nationwide Festive Car Service Camp offering a range of services along with various exciting offers and benefits. We urge our customers to visit their nearest dealerships to avail these benefits and experience the joy of being a part of the Honda family.”

Along with these attractive offers, discounts are available on various accessories, parts, and Cash repairs. During the festive camp, customers can also experience Honda Sensing's innovative ADAS technology through a test drive, along with a free evaluation of their old cars.

Besides this, Honda Cars India has also rolled out attractive discounts and promotions on best sellers Honda City and Amaze as part of the ongoing ‘The Great Honda Fest’. During the fest, customers can avail benefits of up to Rs 75,000 on Honda City and benefits of up to Rs 57,000 on Honda Amaze in the form of Cash Discounts, Customer Loyalty Bonuses, Accessories, Corporate Discounts and special Exchange Benefits. Further, the company has also introduced festive editions of Honda City and Amaze aiming to offer enhanced styling and convenience with added features at an attractive price.

Honda Cars India announces nationwide Festive Car Service Camp

Autocar Professional Bureau — Mon, 16 Oct 2023 12:39:43

Honda Cars India Ltd. (HCIL)has announced the commencement of its nationwide Festive Car Service Camp at authorised dealership facilities across the country from October 16- 20, 2023.

NueGo launches monsoon campaign, offers 10% discount on all bookings

Autocar Professional Bureau — Fri, 14 Jul 2023 15:23:50

NueGo, premium electric bus brand by GreenCell Mobility has announced its latest monsoon campaign, Rainy Rides with NueGo, where customers can get a 10 percent discount on all their bookings, by using the promo code "RAINY10."

The limited-time offer is valid until July 31, 2023, and bookings can be done via the NueGo website and app.

As per the company statement, NueGo understands the joy and convenience of hassle-free travel during the rainy season. With their reliable and comfortable rides, passengers can avoid the inconvenience of driving in heavy rain or navigating through congested traffic. By offering a 10% discount, the electric bus brand aims to make rainy commutes more enjoyable and affordable for everyone.

NueGo service is currently plying between Indore-Bhopal, Delhi-Chandigarh, Delhi-Agra, Delhi-Dehradun, Delhi-Jaipur, Agra-Jaipur, Bengaluru-Tirupati, Chennai-Tirupati, Chennai-Pondicherry, and Hyderabad-Vijayawada, with more routes planned in the near future.

NueGo launches monsoon campaign, offers 10% discount on all bookings

Autocar Professional Bureau — Fri, 14 Jul 2023 15:23:50

The limited-time offer is valid until July 31, 2023, and bookings can be done via the NueGo website and app.

NueGo launches monsoon campaign, offers 10% discount on all bookings

Autocar Professional Bureau — Fri, 14 Jul 2023 15:23:50

The limited-time offer is valid until July 31, 2023, and bookings can be done via the NueGo website and app.

Vitesco Technologies develops new rotor without permanent magnets which works without rare earth minerals

Autocar Professional Bureau — Mon, 08 May 2023 17:46:11

Vitesco Technologies, an international supplier of modern drive technologies and electrification solutions, has developed a fully integrated electric axle drive platform (EMR4, Electronics Motor Reducer, which is being broadened by a new option to enable an even better life cycle assessment. This is the new rotor without permanent magnets that is now part of the platform development.

The rotor forms the core of an externally excited synchronous machine (EESM), which works without rare earth minerals. This reduces the rotor costs, and it avoids the carbon footprint that comes with mining and processing the ores.

The company is exhibiting innovations for more sustainable and more efficient electric driving at the 44th Vienna Motor Symposium (April 27-28, 2023).

“Top results in the sustainability and efficiency of electric cars will be achieved, if the vehicle drive is optimally adjusted to the specific scenario. The externally excited rotor without permanent magnets is a particularly sustainable option for our customers. The higher the performance requirements to the drive, the more economically attractive EESM technology becomes,” said Thomas Stierle, division head of Vitesco Technologies’ Electrification Solutions.

By applying a sophisticated winding principle, the innovative EESM rotor becomes an economically attractive option within the most recent drive platform. Especially, when high-performance requirements necessitate a big magnet mass in a PSM, EESM machines will be more affordable and more sustainable.

Mahindra Tractor domestic sales jump 20% at 33,622 units in March

Autocar Professional Bureau — Mon, 03 Apr 2023 17:05:29

Mahindra & Mahindra’s Farm Equipment Sector, part of the Mahindra Group, announced 20 percent increase in domestic sales in March 2023 at 33,622 units, as against 28,112 units during the same month last year.

Total tractor sales (Domestic + Exports) during March 2023 were at 35,014 units, as against 29,763 units for the same period last year. Exports for the month stood at 1,392 units.

The company clocked its highest ever annual sale of 4,07,545 Units (Domestic + Exports) in FY’23.

On the outlook, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra said, "Increase in crop output, mandi prices staying firm, Government support for increase in MSP for major crops and increase in wages under MGNREGA scheme will help improve the financial security of rural households and boost tractor demand in the coming months.”

South Indian Bank inks MoU with Maruti Suzuki for Dealer and Retail Car financing

Autocar Professional Bureau — Tue, 14 Feb 2023 01:07:58

South Indian Bank has announced the signing of an MoU with Maruti Suzuk India (MSIL) for dealer and retail car financing to help dealer partners streamline vehicle inventory funding and offer comprehensive retail financing solutions to the customers of Maruti Suzuki.

Murali Ramakrishnan, MD, and CEO, South Indian Bank, sharing his views on the partnership, said "With our diverse finance solutions, we aim to provide convenient and comprehensive finance options for a great synergistic effect.”

The MoU was signed in the presence of Shashank Srivastava, Senior Executive Officer, Marketing and Sales, MSIL, Bhuvan Dheer, Executive Vice President, Sales, MSIL; Vikas Kohli, Vice President, MSIL; Murali Ramakrishnan, MD and CEO, South Indian Bank, and other senior officials from both organizations.

Speaking on the partnership, Srivastava said, “This tie-up will provide financing solutions for our dealer partners as well as for our customers.”

Adani signs MoU with Ashok Leyland & Ballard Power to develop a hydrogen fuel cell electric truck

Autocar Professional Bureau — Tue, 17 Jan 2023 18:32:22

Adani Enterprises Limited (AEL) today signed an agreement to launch a pilot project to develop a hydrogen fuel cell electric truck (FCET) for mining logistics and transportation with Chennai-based Ashok Leyland, and Canada-based Ballard Power, Canada.

This collaboration marks Asia’s first planned hydrogen powered mining truck. The demonstration project will be led by AEL, a company focused on both mining operations and developing green hydrogen projects for sourcing, transporting, and building out hydrogen refueling infrastructure, according to the company release.

Ballard, an industry leading PEM fuel cell engine manufacturer, will supply the FCmoveTM fuel cell engine for the hydrogen truck and Ashok Leyland, one of the largest manufacturers of buses in the world, will provide the vehicle platform and technical support. The FCET is scheduled to be launched in India in 2023.

The Adani Group previously announced its plans to invest more than $ 50 billion over the next ten years in green hydrogen and associated ecosystems corresponding to a capacity of up to 3 million tons of green hydrogen annually.

Vinay Prakash, Director, Adani Enterprises Limited and CEO, Adani Natural Resources said, “This pioneering and ambitious green hydrogen project holds a strong promise for India’s future energy self-reliance and is consistent with the vision of Gautam Adani, Chairman of the Adani Group, of accelerating the use of hydrogen-powered fuel cell technology in the commercial transport system. This experience of handling hydrogen as a fuel for commercial fleet not only prepones the advent of hydrogen technology for the mining and logistics sector in the country but will also enable other businesses to opt for long-term sustainable solutions transitioning fleets in ports, airports and in their industrial operations.”

The hydrogen powered mining truck will weigh 55 tons, have three hydrogen tanks, a 200-km working range, and powered by Ballard’s 120 kW PEM fuel cell technology.

“After signing an MoU with the Adani Group last year, we are eager to move our partnership forward and welcome the chance to cooperate with cutting-edge businesses like Adani,” said Randy MacEwen, CEO, Ballard Power Systems. “Our technology offers a strong value proposition for their heavy-duty mining truck with our zero emission engines providing long range, rapid refueling and heavy payload capabilities.”

“Ashok Leyland is excited to collaborate with Adani and Ballard to bring out fuel cell commercial vehicles in the mining and logistics sectors in India,” said Dr. N. Saravanan, CTO, Ashok Leyland. “With our track record of developing unique and new products, Ballard's technological expertise in fuel cells, and Adani’s unwavering dedication to hydrogen, there is a significant opportunity for India to decarbonize both goods and passenger transportation.”