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Exclusive: Hyundai India Scouts Third Manufacturing Location For Next Phase Of Growth

Ketan Thakkar — Tue, 29 Sep 2026 12:15:00

Hyundai Motor India has started exploring a third manufacturing location in the country as it prepares for an aggressive product expansion and sustained growth in a highly competitive market, people familiar with the discussions told Autocar Professional.

India is expected to be among Hyundai Motor Group’s fastest-growing markets over the coming decade. The carmaker will need additional capacity to participate in the expanding domestic market and increase exports, with around 30% of its India output expected to be allocated to overseas markets.

According to people familiar with the company’s volume plans, Hyundai is likely to fully utilise its manufacturing facilities in Tamil Nadu and Maharashtra by 2030. It has therefore begun assessing the next phase of capacity expansion to support products expected to bring incremental volumes.

Chhatrapati Sambhaji Nagar in Maharashtra and Sanand in Gujarat are among the locations under consideration. The discussions are at an early stage, and Hyundai has yet to decide on the site, initial capacity, investment schedule or product allocation.

The proposed project could attract an investment of more than $2 billion over time, over and above Hyundai Motor India’s ₹45,000 crore investment commitment through FY2030. The facility is likely to come up around 2030, with capacity being added in phases over five to seven years. At full scale, it could add around 500,000 units to Hyundai’s annual production capacity.

In an official response to Autocar Professional, Hyundai Motor India said: “We do not comment on market speculation or industry rumours. Should there be any material developments requiring disclosure, we will communicate them through the appropriate official and regulatory channels.”

The plan comes as Hyundai prepares for an aggressive product cycle in India. The carmaker has lined up 26 model launches through FY2030, covering new products, full model changes and updates. SUVs, hybrids and electric vehicles will play a larger role in the portfolio.

The proposed facility is expected to produce future mid-size SUVs, MPVs and electric vehicles for India and overseas markets, according to the people cited above.

Hyundai’s Talegaon plant is being expanded in stages and will supplement its long-standing manufacturing base at Sriperumbudur near Chennai. The two locations are expected to meet its requirements over the next few years, but the planned product expansion will require more capacity over the longer term.

The pressure on capacity is already beginning to show. Autocar Professional reported earlier that Hyundai had revised its production plan for calendar year 2026 from around 770,000 units to approximately 820,000 units, an increase of 50,000 units.

The increase is supported by demand for the Creta and Venue, festive sales, growth in rural markets and incremental volumes expected from two upcoming SUVs.

SUVs account for nearly 70% of Hyundai’s domestic sales. Rural markets contributed 25.9% of its sales in the first quarter of FY2027 and grew by 23% year on year.

Investment in the proposed facility is expected to be spread across phases. A part of its output is likely to be exported, expanding Hyundai’s use of India as a production base for overseas markets.

India is among Hyundai’s three largest markets globally. The choice of a third manufacturing location will depend on land availability, state incentives, access to suppliers, logistics and port connectivity.

Hyundai could also evaluate other locations before taking a final investment decision. The eventual scale and timing will depend on demand, utilisation of the Sriperumbudur and Talegaon facilities and the rollout of future products.

Ola Electric Board To Consider ₹1,000 Crore Rights Issue

Eshisha Java — Tue, 29 Sep 2026 09:34:05

Ola Electric Mobility’s board of directors is scheduled to meet on October 5, 2026, to consider and decide on a proposed rights issue of partly paid-up equity shares worth up to ₹1,000 crore. The meeting will be held on October 5 or after the company receives in-principle approval from the stock exchanges or other required regulatory authorities, whichever is later.

The proposed issue will comprise partly paid-up equity shares with a face value of ₹10 each. The company has not yet disclosed the issue price, rights entitlement ratio, record date or payment mechanism. These matters are among those to be considered by the board.

Ola Electric Rights Issue Details

The board will consider the specific terms of the rights issue, including the price at which the shares will be offered and the ratio determining shareholders’ rights entitlements.

It will also consider the payment mechanism, record date and timing of the issue, along with other related matters. The proposed rights issue is for an amount not exceeding ₹1,000 crore.

The company’s latest filing was made on September 28, 2026, under the relevant provisions of the SEBI Listing Regulations governing such disclosures.
Further details of the proposed rights issue are therefore subject to the board’s decision and the required regulatory and stock exchange approvals.

Gotion To Invest $1.25 Billion In Volkswagen’s Spain Battery Plant: Reuters

Eshisha Java — Tue, 29 Sep 2026 09:23:03

China’s Gotion High-tech will invest €1.1 billion (US$1.25 billion) in Volkswagen’s battery plant in Valencia, Spain, as part of a broader agreement to develop a European battery supply chain, Reuters reported.

The investment will give Gotion a 49% stake in the Valencia facility, with Volkswagen’s battery business PowerCo retaining the majority stake. The plant is planned to become a European production hub for lithium iron phosphate (LFP) batteries, according to Volkswagen.

Under the agreement, PowerCo will also invest €470 million in two Gotion facilities. These include a battery cell factory in Šurany, Slovakia, and a new cathode-material production facility in Kenitra, Morocco. PowerCo will take a 49% stake in each facility.

Gotion And Volkswagen Expand European Battery Partnership

The agreement expands the existing relationship between Volkswagen and Gotion. Volkswagen is currently Gotion’s largest single shareholder, with a 24% stake. Volkswagen has also agreed to sell a 5.3% stake in Gotion to an unnamed buyer, valued at about $373 million based on LSEG data, Reuters reported.

Volkswagen Chief Technology Officer Thomas Schmall said the agreement represents a further step in the companies’ battery cooperation and European electric vehicle supply-chain plans.

The investment comes as Chinese battery and electric vehicle manufacturers increase their presence in Europe, while the European Union considers measures aimed at protecting local industry from lower-cost imports.

Valencia Plant To Focus On LFP Battery Production

The Valencia facility will focus on the production of LFP batteries, a battery chemistry increasingly used in electric vehicles. The plant will form part of Volkswagen’s broader battery manufacturing strategy in Europe.

Gotion’s investment gives it a significant minority position in the facility, while PowerCo will retain control through its 51% stake.

The agreement also links battery-cell production in Spain with upstream material and cell manufacturing activities in Slovakia and Morocco, creating a supply-chain structure spanning several European and neighbouring markets.

Volkswagen is currently restructuring its operations and has been reducing its investment portfolio as part of a wider cost-cutting programme. Reuters reported that the German automaker is also planning significant workforce reductions.

Tata Motors Arm Acquires 26% Stake In Mateshwari E-Smart Mobility

Eshisha Java — Tue, 29 Sep 2026 09:14:04

Tata Motors’ wholly owned subsidiary, TML Smart City Mobility Solutions Limited (TSCMSL), has acquired a 26% stake in Mateshwari E-Smart Mobility (Hyderabad) Private Limited (MEMHPL) for ₹2.6 lakh. The acquisition is linked to operations and maintenance of electric buses under the Telangana State Road Transport Corporation (TSRTC).

TSCMSL acquired 26,000 equity shares of ₹10 each in MEMHPL at par, giving it a 26% stake in the company. The transaction was completed on September 28, 2026, with the consideration paid in cash through the transfer of shares from MEMHPL’s existing shareholder.

The acquisition follows a tender awarded to TSCMSL and Mateshwari Urban Transport Solutions Private Limited, the holding company of MEMHPL, for the operation and maintenance of electric buses under TSRTC. Tata Motors said the acquisition of MEMHPL is intended to facilitate the electric bus operations and maintenance activity.

Tata Motors Electric Bus Operations In Telangana

TSCMSL participates in tenders issued by municipal corporations for the operation and maintenance of electric buses. The company said the MEMHPL acquisition falls within Tata Motors’ existing business objectives relating to electric bus operations and maintenance.

About Mateshwari E-Smart Mobility (MEMHPL)

MEMHPL was incorporated on August 11, 2026, under the Companies Act, 2013, with the stated objective of carrying out e-mobility business. It has an authorised share capital and paid-up capital of ₹10 lakh each. As the company was incorporated only in August, its turnover was not applicable at the time of the disclosure.

MEMHPL Becomes a Tata Motors Associate Company

The acquisition itself does not fall under a related-party transaction. However, following the acquisition, MEMHPL becomes an associate company of Tata Motors and consequently a related party. No government or regulatory approvals were required for the transaction, according to the filing.

NSRCEL, Maruti Suzuki Launch Seventh Mobility Startup Cohort

Eshisha Java — Mon, 28 Sep 2026 14:59:02

NSRCEL, the startup hub at the Indian Institute of Management Bangalore (IIMB), and Maruti Suzuki India have launched the seventh cohort of their incubation programme for mobility startups. The six-month programme is aimed at startups at the early-revenue to scale stage across mobility and allied sectors.

The programme will focus on startups working in vehicle technology, clean tech, mobility and mobility infrastructure, digital transformation covering Industry 4.0 and 5.0, and green manufacturing. It is intended to help participating companies strengthen their solutions, validate use cases in real-world environments and progress towards market deployment.

Selected startups will receive incubation support from NSRCEL and access to paid pilot opportunities with Maruti Suzuki, along with need-based mentoring from industry experts and industry and ecosystem connections. Winners will also be eligible for a Maruti Suzuki car, international immersion opportunities and prize money.

Mobility Startup Programme Focuses On OEM Pilots

The programme is designed for startups seeking to work with OEMs and demonstrate their solutions in real-world operating environments. The stated focus is on creating pathways towards commercial deployment and scaling beyond experimentation and validation.

The current ecosystem associated with the NSRCEL-Maruti Suzuki collaboration includes startups working across areas such as artificial intelligence, manufacturing, accessibility, electric mobility and battery recycling. The companies cited include Sarvam AI, TRUEassist, Switch On, Volar Alta, Zen Mobility and MiniMines.

NSRCEL-Maruti Suzuki Collaboration Expands Industry Engagement

Beyond the incubation programme, the collaboration has enabled technology companies to explore business engagements with the automotive and mobility ecosystem. These include EaseworkAI, which works on procurement and supply-chain intelligence for manufacturing; Woloo, a hygiene network providing access to washrooms; and Siftly, which focuses on brand visibility across AI search engines.

Other companies that have engaged with Maruti Suzuki include Innovate Labs, which develops AR, VR and XR solutions, and Sand Logic, which develops AI infrastructure and technology stacks.

NSRCEL CEO Rasika Prashant said the seventh cohort will provide startups with opportunities to engage with the mobility industry and work towards real-world applications. The collaboration will bring together entrepreneurs, domain experts, corporate stakeholders, investors and ecosystem partners.

GARC Upgrades Automotive Testing Infrastructure Under PM E-DRIVE

Eshisha Java — Mon, 28 Sep 2026 13:28:30

The Global Automotive Research Centre (GARC) in Oragadam, Chennai, is upgrading its automotive testing infrastructure under the government’s PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme, with new facilities planned for electric vehicles, batteries, advanced safety systems and other emerging technologies.

GARC, which operates under the National Automotive Board of the Ministry of Heavy Industries, is an authorised testing agency under Rule 126 of the Central Motor Vehicles Rules. Its existing capabilities cover vehicle and component testing, research and development, homologation and certification across areas including powertrains, emissions, electromagnetic compatibility (EMC), fatigue, electric vehicles and safety testing.

The government has allocated ₹221.13 crore to GARC for the infrastructure upgrades, with purchase orders issued for almost all the proposed equipment. The PM E-DRIVE scheme has a total outlay of ₹10,900 crore, including ₹780 crore for upgrading testing agencies, and is operational until March 31, 2028.

GARC Adds EV, ADAS And Crash Testing Capabilities

The upgrades include electric vehicle and EV battery testing facilities compliant with AIS-156, as well as EV electromagnetic interference and electromagnetic compatibility (EMI/EMC) testing under AIS-004 Part 3 Rev.1.

GARC is also establishing a heavy commercial vehicle testing facility and upgrading its powertrain laboratory. Other additions include advanced passive safety testing equipment, including dummies and dummy calibration equipment, along with ADAS testing equipment and soft targets. Automotive component testing facilities are also being established or upgraded.

Installation of the procured equipment has begun. One of the additions is a high-speed, high-resolution imaging system featuring UHD-4K cameras capable of recording at up to 750 frames per second (fps) and Full HD footage at up to 3,000 fps.

The system will be used during frontal, side and rear crash testing to record vehicle deformation, occupant movement and airbag deployment. The resulting footage will support safety analysis and homologation activities.

PM E-DRIVE Supports Expanded Automotive Certification

The infrastructure being developed at GARC under PM E-DRIVE is intended to expand domestic testing and certification capabilities for EVs, batteries, advanced safety systems, ADAS, heavy commercial vehicles and other emerging automotive technologies.

The investment also expands GARC's role as an automotive testing and research centre, with the upgraded facilities covering technologies across electrification, vehicle safety and advanced automotive systems.

Amara Raja Opens Nominations For 4th Better Way Awards, Adds Student Category

Eshisha Java — Mon, 28 Sep 2026 12:14:32

Amara Raja Group has announced the fourth edition of its Better Way Awards, with nominations open to rural and women entrepreneurs across India. The 2026 edition introduces a new category, Changemaker of Tomorrow, for graduate and postgraduate students developing ideas, solutions or business models focused on rural development.

Applications are open until November 11, 2026, with entries being accepted through Amara Raja's website. Each of the four award categories carries a Rs 3 lakh cash prize and one year of structured mentoring covering finance, HR, marketing, IT and supply chain.

The awards were instituted in 2023 and are intended to recognise businesses contributing to rural income generation, employment and innovation. The company said the programme has recognised nine entrepreneurs and enterprises across its first three editions.

Amara Raja Better Way Awards 2026 Categories

The fourth edition will recognise entries across four categories:

Amara Raja Better Way Award for Women Employment
Amara Raja Better Way Award for Rural Income Generation
Amara Raja Better Way Award for Best Agri-Based Business
Amara Raja Better Way Award for Changemaker of Tomorrow

The newly introduced Changemaker of Tomorrow category is open to graduate and postgraduate students whose ideas, solutions or business models offer scalable approaches to rural development and upliftment.

Selection Process And Award Benefits

Entries will be evaluated by an independent panel of experts based on their social and community impact and contribution to local employment.

Winners in each category will receive Rs 3 lakh and a year of structured mentoring across finance, HR, marketing, IT and supply chain. Applications close on November 11, 2026.

Previous Better Way Awards Winners

Across the first three editions, the programme has recognised nine entrepreneurs and enterprises, including Thanima Products and Marketing in Kerala, Siyanjali Retails in Himachal Pradesh, Farm2Fam in Maharashtra, Resham Sutra in Ranchi, Bhaumya Innovations in Telangana and Shreeja Mahila Milk Producer Company in Tirupati. Other recipients include Anuttama Products, Ilaagri Services and Ayurarogya Saukhyam Foundation.

Park+ Moves Core Infrastructure To Akamai Cloud, Targets 50-60% Cost Reduction

Eshisha Java — Mon, 28 Sep 2026 11:53:32

Park+, an Indian auto-tech platform, has migrated its core infrastructure to Akamai Cloud, with the company expecting the move to reduce infrastructure costs by 50–60 percent. The migration is intended to simplify its multi-cloud operations and support the expansion of its digital services.

The migration covered more than 150 microservices running on Kubernetes, over 100 SQL databases across more than 20 clusters, as well as multiple Redis, Elasticsearch and Kafka clusters. It also involved transferring more than 100TB of structured data and more than 600TB of object storage.

Akamai and Park+ implemented the migration in phases, with parallel environments used to gradually shift workloads while maintaining business continuity. The process also included data-migration tools and approaches intended to maintain data consistency and integrity. Akamai’s Professional Services team provided round-the-clock support during critical stages of the migration.

Park+ To Evaluate Additional Workloads On Akamai

Hitesh Gupta, Co-founder and CPTO+ at Park+, said simplifying infrastructure while maintaining reliability and cost efficiency had become a priority as the platform expanded. He said Akamai’s pricing model, platform stability and engineering support were factors in the migration and that the move would allow Park+ teams to focus on further development of its platform.

Mitesh Jain, Regional Vice President, India, Akamai Technologies, said the migration demonstrates how cloud infrastructure can be modernised while maintaining the requirements associated with operating at scale.

Park+ is also evaluating the migration of additional workloads, including content delivery and security, to Akamai. The company said this could further streamline its operations and support platform performance.

100% Ethanol Vehicle Set For October Launch, IIT Delhi Paper

Eshisha Java — Mon, 28 Sep 2026 10:23:35

A Toyota Innova capable of running on 100% ethanol is expected to be launched in October, according to Union Minister for Road Transport and Highways Nitin Gadkari. The development comes as India looks to move beyond petrol-ethanol blending towards wider adoption of flex-fuel vehicles (FFVs).

The announcement coincides with the public availability of a white paper by the All India Distillers’ Association (AIDA) and IIT Delhi, titled Flex-Fuel Vehicles: Enabling Energy Security and Sustainable Mobility in India. The paper proposes a 10-point roadmap for increasing the adoption of FFVs and transitioning from E20 to higher ethanol blends such as E85 and E100.

According to the release, the white paper was unveiled at the AIDA Green Energy Seminar 2026 earlier this month. It covers vehicle technology, ethanol availability, retail infrastructure, pricing, feedstock sustainability, consumer adoption, financing and long-term market creation.

IIT Delhi White Paper Outlines E85 And E100 Roadmap

The paper argues that the next challenge for India's ethanol ecosystem is creating demand-side pathways through compatible vehicle technology and fuel infrastructure. Flex-fuel vehicles can operate on a range of ethanol-petrol blends, including fuels with higher ethanol content.

India's first flex-fuel passenger vehicle was launched in June 2026, according to the release. Gadkari's latest statement regarding the Toyota Innova adds a 100% ethanol vehicle to the ongoing discussion around higher-ethanol fuel use.

The white paper recommends engineering measures including ethanol-compatible seals such as FKM/Viton and PTFE, adaptive ECU calibration and higher-flow fuel injectors for vehicles operating with higher ethanol blends.

White Paper Proposes Cost-Per-Kilometre Ethanol Pricing

The study proposes moving from a pure per-litre pricing model towards cost-per-kilometre parity. It suggests dynamic E85 retail discounts to account for ethanol's lower energy density, citing a 25% discount against petrol as an example of a break-even price point.

The paper also identifies two-wheelers as a key segment for ethanol adoption, noting that they account for more than 60% of India's petrol consumption. It proposes a segment-specific ethanol strategy aimed at increasing crude oil import substitution.

The roadmap further calls for broader feedstock options, including maize and agricultural residues through second-generation ethanol, alongside sugarcane. The paper links this expansion to local value addition and rural income generation.

The report concludes that the transition to higher-ethanol mobility will require coordination between the automotive, energy, biofuel, agriculture and policy sectors.

Weekly News Wrap: JSW’s Ampstar Launch, China-Linked Auto PLI, Ashok Leyland’s Battery Plan, Honda’s Engine Talks

Angitha Suresh — Sun, 27 Sep 2026 19:13:08

India’s automotive industry saw a busy week between September 21 and 27, with new products, manufacturing investments and technology plans taking centre stage.

Tata Motors launched the Aeris compact sedan as it seeks to attract buyers who might otherwise choose a premium hatchback or compact SUV. Suzuki outlined a wider technology roadmap for India, including lower-cost advanced driver assistance systems (ADAS), new powertrains and faster vehicle development. Honda is in talks to source engines for a future compact SUV.

In commercial vehicles, JSW Group formally entered the electric truck and bus market with its Ampstar brand and outlined plans for a substantial manufacturing scale-up. Ather Energy, meanwhile, set out the volume and profitability expectations for its new entry-level scooter.

The week also brought fresh investments across automotive components and semiconductors, Hero Motors’ stock market debut and industry reflections on the first anniversary of GST 2.0.

Here is a round-up of the key developments during the week.

Passenger Vehicles

Tata Motors Launches Aeris to Bring Buyers Back to Sedans

Tata Motors launched the Aeris compact sedan , replacing the Tigor in its personal-buyer portfolio. Introductory prices start at ₹5.29 lakh for the petrol version and ₹6.29 lakh for the CNG version.

The company is positioning the Aeris as an alternative to premium hatchbacks, offering features including six airbags as standard, ventilated front seats and an integrated dashcam on select variants. Tata has also separated its private and fleet propositions, with the Aeris reserved for personal buyers and the Xpres range continuing to serve fleet operators.

An analysis of the product strategy examined how Tata hopes to retain customers who enter showrooms considering a sedan but eventually leave with an SUV.

Tata EV Demand Outpaces Supply, Commodity Costs Add Pressure

Tata Motors Passenger Vehicles said electric vehicles now account for around 25% of its sales , compared with roughly 14% last year. Managing Director Shailesh Chandra said demand for its EVs is nearly three times the supply currently available.

The company also warned of further commodity cost pressure . Chandra said the impact could be equivalent to an additional 3% of revenue in the July-September quarter, following an increase equivalent to around 4% of revenue in the first quarter.

Honda Explores Engines; Renault Sets Duster Hybrid Launch

Honda Cars India is in talks with Horse Powertrain to source a 1.2-litre engine for a future compact SUV, with petrol, hybrid and CNG options under consideration. Honda has not confirmed the proposed sourcing arrangement or product programme.

Renault, meanwhile, confirmed October 17 as the launch date for the Duster strong-hybrid . The 1.8-litre petrol-electric powertrain will join the SUV’s existing turbo-petrol options.

Suzuki Plans Wider ADAS Adoption and New Powertrains

Suzuki Motor Corporation outlined plans to make core ADAS functions standard on future vehicles in India , including affordable models. It is developing a lower-cost system built around cameras and integrated electronics, although the company has not announced the first models or a rollout date.

The Japanese automaker also confirmed development of a plug-in range-extender system for compact cars and a new direct-injection turbocharged engine for markets including India. Its broader engineering roadmap includes cutting vehicle weight by around 100 kg by 2030 and halving new-model development time.

Mahindra Updates Thar; Maybach Facelift Set for India

Mahindra launched the Thar OG, an updated version of its three-door SUV, with introductory prices starting at ₹10.32 lakh. The model gets a revised platform, suspension and steering, along with additional equipment.

At the luxury end of the market, Mercedes-Benz confirmed an October 5 India launch for the facelifted Mercedes-Maybach S-Class. The update brings revised styling, technology and personalisation options.

Stellantis Takes Full Control of India Assembly Venture

Stellantis acquired the CK Birla Group’s remaining stake in Stellantis Automobiles India, taking full ownership of its Thiruvallur assembly operation. The company plans to increase annual output at the facility from around 16,000 vehicles in 2026 to more than 43,000 by 2028.

Commercial Vehicles

JSW Unveils Ampstar, Outlines Electric CV Capacity Plans

JSW Greentech launched Ampstar, its electric commercial vehicle brand, showcasing a 55-tonne tractor-trailer and an electric bus.

Its Chhatrapati Sambhajinagar facility has an initial installed capacity of 15,000 heavy electric commercial vehicles annually. The company is targeting production of 500-1,000 vehicles in the current financial year and has outlined an ambition to reach 100,000-truck capacity by 2030.

JSW said the ₹2,500-crore plant could generate ₹12,000 crore in annual vehicle revenue at full utilisation, which management expects to take five to seven years.

Chairman Sajjan Jindal also outlined a strategy to build automotive R&D capabilities in India, while drawing on technologies already proven in China’s electric vehicle market.

VECV’s New CEO Outlines Growth Strategy

In an interview with Autocar Professional, VECV Managing Director and CEO B. Srinivas outlined his plans for the company after spending 32 years in the organisation. His priorities include expanding Eicher’s presence in heavy-duty trucks, improving vehicle uptime through connected technologies and developing products across multiple fuel types.

Ashok Leyland Evaluates Battery Project in Maharashtra

Ashok Leyland is evaluating an EV battery manufacturing project in Bhandara, Maharashtra, which could involve an investment of ₹10,000-15,000 crore, according to a Times of India report citing Union Minister Nitin Gadkari. The investment remains a proposal, with no final project commitment announced in the report.

Volvo CE Plans Localised Wheel Loaders for 2027

Volvo Construction Equipment said it plans to introduce locally manufactured medium wheel loaders in India in 2027 .

The move is part of a portfolio restructuring following its global exit from Chinese joint-venture partner SDLG. Volvo CE is seeking to address a gap between its existing premium wheel loaders and demand in the broader Indian market.

Cityflo Prepares to Expand Bus Operations

Premium commute operator Cityflo said 120 of its 150 routes are cash positive. The company expects revenue of around ₹300-320 crore this year, compared with about ₹130 crore last year. It plans to add roughly 1,000 buses annually over the next three years, including up to 250 electric buses.

The corporate vehicle leasing market presents a different growth opportunity. A report on India’s field workforce and fleet leasing explored why many companies continue to rely on employees’ personal two-wheelers rather than dedicated vehicle fleets. Leasing operator Ayvens pointed to corporate salary structures, regulatory hurdles and vehicle economics as barriers to wider adoption.

Electric Mobility and Two-Wheelers

Ather Bets on Konarc to Drive Its Next Growth Phase

Ather Energy expects the ₹99,999 Konarc to account for around 50-60% of its portfolio over the next two years as it targets buyers currently using petrol scooters.

Chief Business Officer Ravneet Phokela also said the new scooter delivers better margins than the Rizta, supported by the lower cost structure of Ather’s EL platform.

Its initial rollout remains limited by supply, with production expected to improve after the commissioning and ramp-up of its new manufacturing facility.

Honda Announces Prices for QC3 Electric Scooter and CB500

Honda Motorcycle and Scooter India announced pricing for its QC3 electric scooter, CB500 motorcycle and updated CB350 range.

The QC3 is priced at ₹1.35 lakh, while the CB500 starts at ₹2.75 lakh. The refreshed CB350 range starts at ₹1.95 lakh. The launches mark the retail rollout of products introduced as part of Honda’s expanded portfolio earlier this year.

Ultraviolette Raises $85 Million; Zelio Plans ₹168-Crore Fundraise

Electric motorcycle maker Ultraviolette raised $85 million in fresh funding to support production expansion, next-generation EV platforms and international growth. The company is targeting entry into the US market in 2027 and has outlined plans for manufacturing capacity of up to five lakh vehicles annually.

Zelio E-Mobility also received board approval to raise up to ₹167.96 crore through equity shares and convertible warrants, subject to the required approvals. The proposed funds will support manufacturing expansion, including a planned electric three-wheeler facility in Patan, Haryana, and a wider retail network.

Electric Scooter Exports Jump 450%

Exports of made-in-India electric scooters rose nearly 450% year-on-year to 15,418 units in April-August 2026. TVS Motor led with 6,702 units, followed by Bajaj Auto with 4,818 and Ather Energy with 3,573. Together, the three companies accounted for around 98% of electric scooter exports during the period.

Tata Power and Mahindra Outline Charging Network Expansion

Tata Power has deployed more than 2.5 lakh home chargers and operates over 6,700 public charging points across India, according to Virendra Goyal, Head of Business Development, EV Charging. In a video interview with Autocar Professional, Goyal discussed charging costs, utilisation and the company’s targets of 10,000 public chargers and 7.5 lakh home chargers by 2030.

Mahindra, meanwhile, said its Charge_iN network has reached 50 operational stations, with more than 200 live charging points. The company has also commissioned its first joint fast-charging site with HPCL on the Mumbai-Pune Expressway. It aims to expand to 250 stations and approximately 1,000 charging points by December 2027.

Components, Tyres and Investments

JK Tyre and CEAT Prepare for the Next Expansion Phase

JK Tyre is undertaking a ₹4,980-crore brownfield expansion in passenger-car and truck and bus radial tyres, alongside ₹1,130 crore of projects already under implementation. The new programme is expected to increase combined capacity by about 24% through 2029. Management said capacity constraints had prevented it from fully servicing some export orders, while it continues to focus on premium tyres and fleet services.

CEAT Specialty, meanwhile, is preparing to raise capacity at its Ambernath plant from 105 tonnes per day to 160 tonnes per day. The expansion comes as CEAT integrates the CAMSO business acquired from Michelin, giving it access to construction tyres, tracks, new customers and distribution channels. The next task is to increase utilisation across the acquired operations.

Kaynes Plans $50 Million Automotive Chip Lab

Kaynes Semicon is investing around $50 million in a reliability and failure-analysis laboratory as it builds its automotive semiconductor business. The facility is expected to become operational in December and will initially focus on automotive chip qualification before expanding into space-grade applications.

Bharat Forge Raises ₹2,000 Crore Through QIP

Bharat Forge raised approximately ₹2,000 crore through a qualified institutional placement, allotting about 1.06 crore equity shares. The fundraising adds to a week of capital-raising activity among companies preparing for manufacturing and technology investments.

Endurance and Sedemac Add Manufacturing Capacity

Endurance Technologies commenced production at its approximately ₹401-crore facility in Chhatrapati Sambhajinagar. The plant has an initial casting capacity of 900 tonnes per month, scalable to 1,100 tonnes.

Powertrain and mechatronics supplier Sedemac also began limited commercial production at its third Pune manufacturing facility, with the remaining lines to be operationalised in phases.

Hero Motors Makes Market Debut

Hero Motors listed at ₹82.10 on the BSE, below its IPO issue price of ₹84 per share, before recovering during the first trading session. The ₹1,000-crore offering had been subscribed 6.66 times. The company closed its debut session with a BSE market capitalisation of around ₹4,474 crore.

Policy and Industry Developments

Auto Industry Marks One Year of GST 2.0The industry reflected on one year of GST 2.0, with automakers and dealers pointing to stronger demand following last year’s rate rationalisation.

FADA said vehicle retail exceeded three crore units during October 2025-August 2026, growing nearly 20% year-on-year, compared with growth of less than 5% in the corresponding earlier period. Industry executives also highlighted improving demand for entry-level cars.

Auto PLI Applications Involving Chinese Investment Could Be Considered

The government is likely to consider existing auto PLI applications involving Chinese investment once the necessary foreign direct investment approvals are secured, according to a media report.

The report said the move could cover applications involving JSW MG Motor India and Tata AutoComp’s joint ventures with Chinese companies. The government is not planning to reopen the scheme for fresh applications.

Proposed EU Scrap Restrictions Raise Supply Concerns

India’s automotive recycling chain could face a new raw-material challenge after the European Commission proposed excluding India from the list of non-OECD markets authorised to receive EU metal waste.

If adopted, the proposed restriction would take effect from May 2027. It could affect access to imported metal scrap used by India’s secondary aluminium industry, an important supplier to automakers. The proposal has not yet completed the EU adoption process.

New Rules for Mobile CNG and CBG Refuelling

The government notified rules for mobile CNG and compressed biogas refuelling units, setting out conditions covering ownership, operation, safety systems and permitted applications.

Separately, Maruti Suzuki commissioned a 300kW green hydrogen pilot plant at Manesar. The facility uses surplus solar power to produce hydrogen that is blended with natural gas for manufacturing operations.

Overall, the week brought together near-term product activity and longer-term industrial investment. Automakers are widening their product and powertrain choices, electric mobility companies are working to scale volumes and infrastructure, and suppliers are adding capacity for the next phase of demand. Rising input costs and the need to turn investment into profitable growth remain important issues across the sector.

Arete 22 Files DRHP with SEBI for ₹440-Crore IPO

Shruti Shiraguppi — Sat, 26 Sep 2026 18:54:08

Arete 22 Limited, an integrated precision aluminium mobility solutions company, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) ahead of a proposed initial public offering.

The IPO will comprise a fresh issue of equity shares with a face value of ₹10 each, aggregating up to ₹440 crore. The company intends to use the net proceeds primarily to fund working capital requirements of ₹150 crore, repay or prepay borrowings amounting to ₹120 crore, and invest approximately ₹34.82 crore in plant and machinery at its existing manufacturing facilities. The remaining proceeds are earmarked for general corporate purposes.

Background and Operations

Arete22 Private Limited was incorporated on February 9, 2021, and acquired Unicast Autotech Private Limited in 2026. The company manufactures aluminium alloy wheels and precision aluminium high-pressure die-cast (HPDC) components for automotive original equipment manufacturers (OEMs), with its core business centred on alloy wheels for motorcycles and scooters.

Through its material subsidiary, Unicast, it also produces HPDC components used in engines, transmissions, powertrains and structural applications.

The company operates a business-to-business, build-to-print model, manufacturing wheels to the specifications provided by its two-wheeler OEM customers.

Manufacturing Footprint

Arete 22 runs two manufacturing facilities for aluminium alloy wheels — in Bilaspur, Haryana, with an installed capacity of 3.60 million wheels per annum, and in Kolar, Karnataka, with a capacity of 2.40 million wheels per annum.

Together, the facilities have an aggregate installed capacity of 6.00 million wheels annually across roughly 27,042 square metres of manufacturing area, positioned near established automotive clusters in northern and southern India.

Revenue Diversification

The company's revenue base has broadened across geographies. In Fiscal 2026, Karnataka was the largest contributor at ₹144.29 crore (26.82% of revenue), followed by Tamil Nadu at ₹119.47 crore (22.21%), Haryana at ₹110.85 crore (20.61%) and Uttarakhand at ₹91.60 crore (17.03%).

Andhra Pradesh and Rajasthan contributed ₹37.00 crore (6.88%) and ₹33.16 crore (6.16%), respectively. This is a marked shift from Fiscal 2024, when Tamil Nadu alone accounted for 76.85% of revenue.

Operational and Financial growth

Arete 22's operating metrics have strengthened over the past three fiscal years. The number of SKUs rose from 9 in Fiscal 2024 to 49 in Fiscal 2026, while wheels sold increased from 7.45 lakh units to 31.79 lakh units over the same period. Revenue per wheel rose from ₹1,457.58 to ₹1,671.46, and the order completion rate improved from 78.46% to 90.94%.

Financially, revenue from operations grew from ₹112.46 crore in Fiscal 2024 to ₹537.95 crore in Fiscal 2026, a CAGR of 118.70%. Profit after tax rose from ₹2.92 crore to ₹44.97 crore (CAGR of 292.50%), while EBITDA increased from ₹13.79 crore to ₹94.68 crore (CAGR of 161.98%). The company attributed this growth to higher production volumes and the scaling up of its manufacturing operations.

Unistone Capital Private Limited is the banker to the issue, and Bigshare Services Private Limited is the registrar.

DEPRAG India Launches Subsidiary, Plans Local Assembly Within Six Months

Eshisha Java — Thu, 24 Sep 2026 13:08:50

Germany-based industrial screwdriving and assembly technology company DEPRAG SCHULZ has established DEPRAG India Pvt. Ltd., creating a direct presence in the Indian market after more than two decades of operations through Leaptech Corporation.

The company plans to invest Rs 8-10 crore in India and begin assembling selected systems locally within four to six months. DEPRAG India is targeting double-digit million Euro revenue over five years, with an annual growth target of 25 percent.

The Indian subsidiary will focus initially on industrial screwdriving and fastening systems, component-feeding equipment, assembly automation and machines designed for specific production lines. Its portfolio also includes air motors, pneumatic tools and software for industrial assembly.

DEPRAG's existing customer and installation base in India spans the automotive, electronics and electric mobility sectors, among other industries. The company said the new structure will bring engineering, application development and customer support closer to manufacturers while building local assembly capabilities.

DEPRAG India Targets €5 Million Business Within Three Years

DEPRAG CEO Dr Erik Hallmann said the company now intends to establish a direct presence in India as the market has reached a scale that supports local operations.

The company aims to develop a €5 million business within three years, alongside the planned investment in engineering support, selected local assembly and the development of an Indian team.

The company said India's expansion in domestic manufacturing, including through the Make in India programme and Production Linked Incentive schemes, is increasing demand for assembly systems that can provide repeatable production processes and track critical manufacturing steps.

Local Assembly To Support Customisation And Delivery

V.P. Sreejeev, Director, DEPRAG India, said the local operation is intended to provide faster engineering support and enable machines to be adapted to individual products, factory layouts and production volumes.

The company expects local assembly to reduce delivery times for selected systems and facilitate greater customisation for Indian customers. The first phase will involve developing the local team, strengthening engineering support and identifying systems that can be assembled domestically within the four-to-six-month timeframe.

DEPRAG has roots dating back to 1801 and has operated as a family-owned company since 1931. Its technologies are used for applications requiring accurate fastening, repeatable quality and production records.

The new Indian subsidiary will also provide a base for DEPRAG to expand its work with domestic manufacturers while increasing local engineering and assembly capabilities. The arrangement will build on DEPRAG's more than two-decade partnership with Leaptech and broaden the range of systems that can be developed and supported locally.

Maruti Suzuki Commissions 300kW Green Hydrogen Plant In Haryana

Eshisha Java — Thu, 24 Sep 2026 11:56:30

Maruti Suzuki India has commissioned a 300kW green hydrogen electrolyser plant at its Manesar manufacturing facility in Haryana as a pilot project. The hydrogen produced at the plant is blended with natural gas and used as process fuel in manufacturing operations.

The project uses solar power generated at the Manesar facility during holidays, when electricity demand at the plant is lower. The surplus solar energy is used to produce hydrogen, which is then stored for subsequent use in manufacturing. Maruti Suzuki said learnings from the pilot will inform plans to scale green hydrogen adoption across its manufacturing facilities in Haryana and Gujarat.

The company said the initiative forms part of its broader use of renewable energy technologies for manufacturing, alongside solar power, biogas and battery energy storage. Managing director and CEO Hisashi Takeuchi said the 300kW plant is aligned with the government’s Green Hydrogen Mission and forms part of a multi-technology approach to reducing emissions from manufacturing operations.

Takeuchi also said Maruti Suzuki aims to reduce the carbon footprint of its manufacturing operations from 615,000 tonnes to 266,000 tonnes in FY2030-31. The company said this reduction is expected to be supported by multiple clean-energy technologies rather than green hydrogen alone.

Maruti Suzuki’s Green Hydrogen Plant At Manesar

The electrolyser project is designed to use surplus solar generation that would otherwise remain unused during holidays. The hydrogen is stored and subsequently supplied for manufacturing use, with the company’s project diagram showing hydrogen being compressed, stored and blended with natural gas before being supplied as process fuel.

The plant is currently a pilot project. Maruti Suzuki has not disclosed the plant’s hydrogen production capacity in tonnes per day in the release, beyond specifying the 300kW electrolyser capacity. The company said the experience gained from the project will be used to assess wider deployment across its Haryana and Gujarat facilities.

Maruti Suzuki Expands Renewable Energy Use

The green hydrogen project is part of Maruti Suzuki’s wider manufacturing decarbonisation programme. The company operates in-house solar power plants and also sources renewable electricity through government sources and power purchase agreements covering solar and wind power.

At its Kharkhoda facility, Maruti Suzuki is in the advanced stages of setting up a 10 tonnes per day biogas plant, scheduled for commissioning within FY2026-27. It has also commissioned a 1MWh battery energy storage system at the site.

The company has started integrating compressed biogas as a process fuel, while its board has approved four CBG projects with a budget allocation of ₹561 crore. Separately, Suzuki Motor Corporation, in partnership with the National Dairy Development Board and dairy industry unions, plans to establish 10 biogas plants in India, three of which are already operational in Gujarat.

ARAI UAS Certification Now Fully Operational For India’s Drone Industry

Eshisha Java — Thu, 24 Sep 2026 11:16:32

The Automotive Research Association of India (ARAI) has made its certification service for Unmanned Aircraft Systems (UAS) fully operational, allowing drone manufacturers in India to access conformity assessment and certification services.

The certification operates under the Certification Scheme for Unmanned Aircraft Systems (CSUAS), administered by the Quality Council of India (QCI) on behalf of the Directorate General of Civil Aviation (DGCA). ARAI is authorised to evaluate UAS platforms against CSUAS requirements and issue Statements of Conformity that support DGCA type certification.

The move comes as drone adoption expands across sectors including agriculture, infrastructure, logistics, mining, disaster management and defence. Under the certification process, manufacturers are required to demonstrate compliance with applicable airworthiness, safety and cybersecurity requirements.

How ARAI’s UAS Certification Process Works

ARAI’s certification follows a two-stage evaluation process. The first stage involves verification of documentation covering design data, technical specifications, and safety and security documentation.

The second stage involves physical and flight evaluation of the submitted UAS. The aircraft is assessed against its documentation and subjected to flight testing to evaluate performance, stability and compliance with its applicable classification. The classifications cover Micro, Small, Medium and Large UAS categories based on maximum all-up weight.

After successful completion of both stages, ARAI issues a Statement of Conformity to the DGCA. This forms the basis for type certification and the subsequent allotment of a Unique Identification Number (UIN) to compliant UAS platforms.

ARAI UAS Certification Portal

Drone manufacturers can access the certification procedures, application formats, evaluation criteria, applicable fee structures and technical guidance through ARAI’s dedicated UAS certification portal.

ARAI Director Dr Reji Mathai said the organisation’s objective is to support a compliant drone ecosystem through its UAS certification service and work with industry stakeholders on the deployment of drone technologies meeting applicable safety and performance requirements.

ARAI, established in 1966, is an automotive R&D organisation affiliated with the Ministry of Heavy Industries. Its activities include testing and validation, certification and homologation, design and development, research and development, standardisation and consulting.

Exclusive: Kaynes To Invest $50 Million In Automotive Chip Lab

Mukul Yudhveer Singh — Thu, 24 Sep 2026 09:40:14

Kaynes Semicon is investing around $50 million in a reliability and failure analysis laboratory as it prepares to scale its automotive semiconductor business, Raghu Panicker told Autocar Professional. The facility is expected to become operational in December and will initially focus on automotive applications before expanding to space-grade semiconductors.

“This is somewhere around $50 million,” Panicker said, adding that much of the investment will go into equipment. “It is a reliability and failure analysis lab. Start with automotive, and then slowly get into space-grade semiconductors.”

Panicker said a facility with comparable capabilities is currently not available in Asia. “Currently, this will be one of its kind in Asia. You would see some of those labs in Europe and the US, but none in Asia,” he said. “This will have all the latest machines to test the smallest of components, subsystems, modules and the full system.”

Automotive Chip Qualification and AEC-Q Standards

Automotive accounts for around 50–60% of the wider Kaynes Group’s revenue, according to Panicker. Kaynes Semicon’s business is currently predominantly industrial, but he said the company is seeing traction from automotive customers.

“Automotive takes a longer time for qualification. Automotive needs reliability,” he said. “It is very important that a chip that goes into an automotive OEM should not fail. There should be zero defect, zero failure, because life is involved.”

Kaynes is building its automotive qualification capabilities around IATF and AEC-Q requirements. A smaller version of the reliability and failure analysis laboratory is already available at Unit 1, while the larger facility will come up at Unit 2.

Localising Automotive Chips for a Two-Wheeler Major

The company is also involved in a semiconductor localisation programme with a major two-wheeler manufacturer in South India. Panicker said the manufacturer is looking to localise seven automotive chips, with Kaynes working on at least two.

“There is already a company in the south of India, very close to Bangalore. A big two-wheeler major has started to look at localisation of seven automotive chips,” he said. Asked about Kaynes’ involvement, Panicker added: “I’ll be working with at least a couple of them.”

“The time is not that far when you will see an India-designed, India-manufactured chip going into that two-wheeler,” he said.

Kaynes Semicon Orders From Global OEMs and Tier-1 Suppliers

Kaynes is also targeting automotive business outside India. Panicker said the company already has purchase orders connected with global automotive customers, although he declined to disclose their identities.

“The power modules that we are doing will go to some of those names that you took,” he said when asked about opportunities with global OEMs and their suppliers. “We already have a purchase order in hand with some of those names, which I cannot take. By Q1, we will come back and show you the product that we have done is going into some of these Tier-1 suppliers and OEMs.”

Power Semiconductors for EV Applications

Power semiconductors form a key part of Kaynes’ automotive plans, particularly for EV applications. Panicker pointed to power modules, electronic and vehicle control units, and lighting systems as areas driving semiconductor demand.

“If you look at EVs, there is a large consumption of power,” he said. “Power modules, engine control units, vehicle control units, lighting solutions and various other modules have a large consumption of power. That is one of the reasons Kaynes decided to do a lot of products in power.”

The laboratory will eventually support Kaynes’ move into space-grade sensors, electronics, radiation-hardened devices and FPGAs. For now, Panicker said the focus is clear: “Automotive-grade qualification is the key.”

Why India’s Field Forces Drive Bikes, Not Fleets

Anurag Chaturvedi — Wed, 23 Sep 2026 20:21:55

In mature automotive markets like Thailand and Western Europe, corporate fleets account for roughly 35 percent of total passenger vehicle sales. In India, that figure sits below two percent, according to industry estimates from vehicle-leasing operator Ayvens. The company argues that the market remains suppressed because Indian employers treat cars as executive compensation perks rather than basic operational equipment for mobile sales and service teams.

According to Suvajit Karmakar, Country Managing Director for India and Asia Sub-Regional Director at Ayvens, the retreat of company cars from field roles began in the early 2000s as corporate compensation packages shifted to Cost-to-Company (CTC) structures. The change stripped assigned transport from middle management and sales representatives, pushing workers onto personal motorcycles or public transport.

"Car is still seen as something which is more associated with the status or the hierarchy of the person," Karmakar said. "Whereas, who really needs a car? A guy who is actually out on the field to meet his clients."

This status-driven policy creates sharp regional disparities when compared with other emerging Asian economies. Karmakar cited internal data from a multinational pharmaceutical client operating in India, which maintained just 89 company cars for a workforce of over 5,000 medical representatives.

"In the Philippines, they had 1,400 cars. In Pakistan, they had 500 cars," Karmakar said. "That hurts, right?" He argued that corporate policy frequently overlooks basic employee welfare and operational efficiency. "As a country, as a corporate, we do so much of CSR. Charity begins at home. Let's take care of our employees. These guys who are actually our brand ambassadors, who are on the field meeting your customers, you ask them to take public transport or bring their own car."

Route Economics and Operational Reality

To frame the operational argument, Ayvens compares the monthly expense of a dedicated leased fleet against app-based ride-hailing services. Karmakar estimated urban app-cab travel at ₹26 to ₹27 per kilometer. By comparison, leasing an entry-level compact vehicle costs ₹15,000 to ₹17,000 monthly in rentals, plus ₹8,000 to ₹10,000 in fuel for a monthly distance of 1,000 kilometers.

"Your organisation can lease a similar car for 15,000 or 17,000 rupees per month, all inclusive, plus whatever your fuel expense is," Karmakar said. "You are actually spending less than your Uber or Ola."

With that arithmetic, the baseline financial costs between leased rentals and app-cabs remain close. However, leased fleets offer distinct operational utility for specialized field duties. He points to the field engineers at tool manufacturer Hilti, who require boot space for heavy demonstration kits and cannot rely on ride-hailing drivers who may reject cargo.

Similarly, agribusiness companies deploy fleets of over 1,000 leased cars to representatives travelling through rural districts in Assam, Bihar, and Odisha where public transit is nearly non-existent. These firms outsource entire fleet logistics to Ayvens, avoiding internal fleet management overhead.

Moreover, maintaining field cars across regional networks requires specialized operational support. Ayvens maintains contracts with 2,700 service workshops across India and provides breakdown support within a 100-kilometer radius of 750 locations. Because traffic incidents in rural corridors frequently lead to administrative delays, the firm provides 24/7 legal assistance to drivers involved in road accidents or police disputes. Contracts can also include replacement vehicles to ensure field staff remain mobile while regular cars undergo repairs.

Regulatory Hurdles and Powertrain Financials

Powertrain strategies are also shifting as fleet operators attempt to lower corporate emissions. Ayvens reported a reduction in its average fleet CO2 emissions from 136 grams per kilometer in 2024 to 127g/km in 2025, targeting 120g/km or lower in 2026. In 2026, electric, hybrid, and CNG models made up 27 percent of new vehicle deliveries. However, hybrids remain the preferred low-emission alternative for long-distance field staff because drivers avoid public charging delays.

Electric vehicles present distinct financial risks due to residual value drops. Ayvens reported losing ₹2.5 lakh to ₹3 lakh per vehicle on early electric cars leased between 2017 and 2019. Over four-year contract terms, usable battery range fell from an initial 180 kilometers to 70 kilometers, forcing the company to sell returned vehicles to salvage buyers. Currently, Ayvens benchmarks EV residual values 20 to 25 percent lower than equivalent internal combustion engine vehicles.

Regulatory frameworks continue to slow corporate fleet expansion. Under the Motor Vehicle Act, leased vehicles in India must be registered under the lessee's (client's) name rather than the lessor's. This requirement complicates simple maintenance tasks, such as obtaining mandatory One-Time Passwords sent to client phones for vehicle fitness tests. Crucially, the rule prevents lessors from expanding into retail or SME leasing, where recovering a vehicle from a defaulting customer requires long court battles to establish legal ownership.

In addition, tax transitions have created additional losses. When the federal government restructured GST rates and removed automobile Cess a year ago, fleet operators were left holding unrecoverable Cess tax credits paid on existing vehicles. With no mechanism to collect Cess on ongoing rentals to offset these credits, Ayvens had to request financial compensation directly from corporate clients, causing contractual friction.

Ayvens projects its active fleet in India will grow from 48,000 vehicles to 60,000 by 2027. To support broader urban mobility research, the company collaborates with Immersive Technology and Entrepreneurship Labs (ITEL), an initiative backed by IIT Madras. Ayvens helps fund an ITEL project developing elevated, autonomous transit pods designed to travel 20 kilometers in 24 minutes, with an initial prototype undergoing testing in Sri City, Andhra Pradesh.

Unlocking the full potential of India's commercial fleet market requires employers to re-examine transport as an operational necessity. Karmakar cited an online search query estimating India's field workforce at 7.4 million staff, noting that Ayvens' internal fleet extrapolation suggests company cars currently serve only 30,000 to 40,000 of them. While these figures represent rough market extrapolations rather than a national workforce study, auto lessors view the gap as an untapped growth market if corporate India shifts its car policies from senior executive compensation to front-line utility.

Motherson Incorporates US Subsidiary For Supply Chain Services

Eshisha Java — Wed, 23 Sep 2026 14:01:48

Samvardhana Motherson International has incorporated a new subsidiary in Delaware, USA, to provide logistics and supply chain services to the automotive industry.

The company said MH Supply Chain Limited (MHSCL-US) was incorporated on September 21, 2026, with its formation appearing on the Delaware government portal on September 22. The entity will operate in logistics solutions services and is intended to provide integrated third-party logistics (3PL) and fourth-party logistics (4PL) services globally.

MHSCL-US is a wholly owned subsidiary of MHSCL JVC Holding Limited, UAE. Samvardhana Motherson International holds a 51 percent stake in MHSCL, while the remaining 49 percent is held by Hellmann Worldwide Logistics (MESA) Holding Limited.

Motherson US Subsidiary To Focus On Automotive Supply Chains

According to the filing, the new US entity has been established to offer supply chain solutions to automotive industry customers and support their logistics requirements. It will also provide integrated 3PL and 4PL services with a focus on supply chain efficiency, resilience and stability.

The incorporation does not require any government or regulatory approvals, according to the filing. The equity share capital will be subscribed in cash.

The initial subscribed capital comprises 1,000 shares with a face value of USD 0.01 per share. MHSCL will hold 100 percent of the shares in MHSCL-US.

Bharat Forge Raises ₹2,000 Crore Through QIP, Allots 1.06 Crore Shares

Eshisha Java — Wed, 23 Sep 2026 13:38:38

Bharat Forge has completed its qualified institutions placement (QIP), raising ₹2,000 crore through the allotment of 1,05,82,010 equity shares to eligible qualified institutional buyers (QIBs).

The QIP opened on September 17, 2026 and closed on September 22. The Investment Committee – Strategic Business approved the allotment at ₹1,890 per share, representing a 2.96 percent discount to the floor price of ₹1,947.70 per share.

The issue involved equity shares with a face value of ₹2 each. The ₹1,890 issue price included a premium of ₹1,888 per share. The company said the allotment aggregated to ₹20,000 million, or ₹2,000 crore.

Bharat Forge QIP Allotment Details

Following the allotment, Bharat Forge's subscribed and fully paid-up equity share capital increased from ₹956.18 million, comprising 47,80,88,632 shares, to ₹977.34 million, comprising 48,86,70,642 shares.

The allotment list shows the Government of Singapore received 17,79,269 shares, representing 16.8141 percent of the total QIP. ICICI Prudential funds received a combined 10,58,202 shares, while Invesco India funds received 7,40,741 shares.

Other allottees with more than 5 percent of the issue included Axis Mutual Fund, Mirae Asset funds, ICICI Prudential Life Insurance Company, DSP funds and Societe Generale – ODI.

Nawgati Crosses 3.5 Million Users, Adds Fuel Station Visibility

Eshisha Java — Wed, 23 Sep 2026 13:07:20

Nawgati has crossed 3.5 million users in India, with its fuelling app providing drivers with real-time information on fuel station queues, fuel availability and pricing.

The New Delhi-based fuel-tech and mobility infrastructure platform said the app is aimed at addressing the lack of real-time information available to drivers before they reach a fuel station. According to Nawgati, drivers can spend close to an hour waiting at fuel stations during peak periods, with the impact particularly significant for commercial drivers whose earnings depend on time spent on the road.

The Nawgati Fuelling App provides station-level visibility on queues, fuel availability and prices. The company said the product was developed after its founder and CEO Vaibhav Kaushik observed CNG cab drivers spending up to an hour a day waiting in fuel lines, equivalent to nearly 10 percent of their working time.

Nawgati Fuelling App Tracks Fuel Station Queues And Availability

The platform is designed to give users information on station conditions before they arrive, including whether a station is congested, has fuel available and its current pricing.

Kaushik said the 3.5 million-user milestone indicates that the issue of waiting times at fuel stations extends beyond individual drivers and is relevant to a wider user base across India. He added that the company intends to take the model beyond India.

Founded in 2019 by Vaibhav Kaushik, Aalaap Nair and Aryan Sisodia, Nawgati has expanded from a consumer information platform into a fuel-retail data company. Its stated focus includes reducing fuel-station congestion and improving fuel availability for drivers.

Nawgati Expands Fuel-Tech Operations Beyond India

Alongside its consumer-facing fuelling app, Nawgati provides technology solutions for fuel-station operations and fleet management. Its Aaveg platform uses deep learning and real-time analytics for congestion management and operational efficiency, according to the company.

Nawgati said it is expanding internationally, beginning with the UAE and Sri Lanka.

AutoMovers Group Plans ₹500 Crore CAPEX, Insurance Expansion

Eshisha Java — Wed, 23 Sep 2026 12:00:03

AutoMovers Group has announced a ₹500 crore investment plan for the next three years, beginning in Q1 FY 2026-27. The multi-brand automotive retail company said more than ₹200 crore has already been invested in capital expenditure, with the next phase focused on expanding its sales and service network and manufacturing capacity.

Of the planned ₹500 crore investment, ₹150 crore will be allocated towards CAPEX expansion, including new workshops and authorised service outlets. A further ₹150 crore will be used to increase commercial and passenger vehicle inventory, taking total stock capacity to more than 2,000 vehicles.

The remaining ₹200 crore will be split between working capital and expansion reserves, with ₹100 crore earmarked for these purposes and another ₹100 crore allocated to expanding the company's trailer manufacturing facility in Lucknow.

AutoMovers Group To Expand Uttar Pradesh Network

The expansion will initially focus on the Lucknow cluster, covering Mohan Road, Lucknow Road and Sultanpur Road. AutoMovers Group plans to subsequently expand into other Uttar Pradesh markets, including Kanpur, Varanasi, Gorakhpur and the Noida corridors.

The company is also expanding its insurance operations. It has started increasing its presence across Uttar Pradesh, with Rajasthan, New Delhi, Punjab and Bihar identified as the next markets. AutoMovers Group is targeting ₹200 crore in insurance business in FY 2027-28 and plans to increase this to ₹1,000 crore annually by 2030.

The planned increase in vehicle inventory is intended to support quicker deliveries, while the new infrastructure is expected to increase service capacity to more than 300 vehicles a day.

Lucknow Trailer Plant Capacity To Rise 2.5 Times

AutoMovers Group will allocate ₹100 crore towards expanding its trailer manufacturing facility in Lucknow. The expansion is expected to increase the facility's production capacity by 2.5 times. The company also plans to introduce new product lines in trailer manufacturing.

Managing Director Sanjeet Singh Talwar said the investment programme is intended to build the infrastructure required for faster deliveries, expanded service operations and a broader product offering, while also supporting expansion into new markets and strengthening manufacturing capabilities.

The investment will also support AutoMovers Group's passenger vehicle business through existing and new OEM partnerships. Over the next three to five years, the company plans to expand its retail, service and manufacturing network across Uttar Pradesh and other markets.