Industry & Policy

The Directorate of Revenue Intelligence (DRI) alleged that the carmaker underpaid tax of US$ 9 million. Chinese EV maker BYD made headlines recently after its US$1 billion investment proposal was blocked by the Indian government. According to the latest ...

Maruti Suzuki Q1 net profit doubles to Rs. 2,845 crore in FY2024

Maruti Suzuki’s total sales stood at 4,98,030 units in Q1 FY2024, recording a growth of 6.4%. Maruti Suzuki reported a massive jump in profits thanks to strong sales in the first quarter of FY2024. The carmaker’s net profit more ...

ED raids Hero MotoCorp chairman Pawan Munjal's residence

The ED is said to have acted after receiving inputs from the Department of Revenue Intelligence (DRI). The Enforcement Directorate (ED) has conducted raids at the residence of Hero MotoCorp chairman Pawan Munjal as part of a money laundering ...

Maruti Suzuki to acquire Suzuki Motor Corporation's Gujarat plant

Suzuki Motor Gujarat Pvt Ltd is a wholly-owned subsidiary of Japan-based Suzuki Motor Corporation. Maruti Suzuki India Ltd (MSIL) has decided to terminate its contract manufacturing agreement with Suzuki Motor Gujarat Pvt Ltd (SMG). MSIL will also acquire the ...

Hero Electric, Okinawa & others want customers to refund rebate money

The govt. has sought Rs 469 crore from Hero Electric, Okinawa Autotech, Ampere EV, Revolt Motors, Benling India, Amo Mobility and Lohia Auto. Several electric 2-wheeler manufacturers, including Hero Electric and Okinawa, want their customers to refund the excess ...

Renault Nissan India production crosses 2.5 million units

On average, Renault-Nissan’s Chennai plant has produced 1.92 lakh cars per year. Renault-Nissan Automotive India has achieved a new production milestone. The carmaker has announced that 2.5 million cars have rolled off its assembly line in Chennai. Over the ...

25% of all cars sold in India have a sunroof

85% of SUVs (including compact SUVs) in the market feature a sunroof. Sunroofs have become quite popular among car buyers these days and is one of the most sought-after features. With more carmakers offering this feature in their products, ...

Goa: All new rental cars & bikes to be electric from January 2024

Existing fleet vehicles must be retrofitted with electric powertrains by June 2024. The government of Goa has announced that all new tourist vehicles, that includes rental cars and bikes must be electric from January 2024. Besides, existing fleet vehicles ...

Govt. rejects BYD's US$ 1 billion investment plan

BYD had plans to partner with Hyderabad-based Megha Engineering and Infrastructures. The Government of India has rejected the proposal submitted by China’s BYD to set up a 4-wheeler manufacturing facility with an investment of US$ 1 billion. BYD had ...

US court allows Mahindra to build and sell the post-2020 Roxor

The Mahindra Roxor was launched in the US and Canada in 2018. Its design was updated after FCA objected, alleging that it was a copy of the Willys Jeep. A US court has allowed Mahindra & Mahindra to keep ...

India may block BYD's US$ 1 billion EV plan

China-based BYD is the largest producer of EVs and plug-in hybrid vehicles. There have been reports of China’s BYD planning a massive investment in the Indian market. The company is said to be interested in manufacturing EVs and batteries ...

Govt. of India readying FAME III scheme

The FAME III scheme is likely to cover alternative fuels like hydrogen. According to a media report, the government of India is working on the next phase of the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME III) ...

Tesla interested in setting up EV supply chain in India

Tesla also discussed tax incentives with the government officials. According to a media report, Tesla is exploring the possibility of setting up its auto parts and electronics supply chain in India. The US-based electric vehicle maker is said to have ...

SUVs and MPVs to get costlier as GST cess hiked by 2%

The government has maintained the lower 15% cess rate on hybrid vehicles. The GST Council met for the 50th time this week to discuss a long-standing loophole that allowed certain models to avoid high compensation cess levied on SUVs. The ...

CarTrade to acquire OLX India's auto sales business for Rs 537 crore

OLX is owned by the Dutch investment firm Prosus. According to a media report, CarTrade is set to acquire OLX India’s auto sales business for Rs 537 crore. CarTrade Tech, in a stock exchange filing, has revealed that it plans ...

Maruti looks to double its turnover; plans 6 new EVs by FY31

Suzuki plans to invest Rs 2.8 lakh crore to enhance its product line-up and bring in new technologies. Maruti Suzuki aims to double its turnover in the decade through 2031. To achieve this, the carmaker plans to launch six new ...

Tamil Nadu: Hotels must provide amenities for guests' drivers

One bed space in the dormitory must be provided for each car parking space required for the guest rooms. Hotels and lodges in the state of Tamil Nadu have been mandated to provide amenities such as dormitories, toilets and bathrooms ...

Bhatar NCAP crash test norms to be implemented from October 1

The Bharat NCAP norms will be aligned with global crash test protocols According to media reports, the Bharat New Car Assessment Programme (Bharat NCAP) crash test norms are likely to come into effect from October 1, 2023. Mahmood Ahmed, Additional ...

Toyota denies reports of heavy discounts on Hilux

Dealers were said to be offering a discount of Rs 6-8 lakh on the Hilux. Earlier this week, there were reports of heavy discounts on the Toyota Hilux. Dealers were said to be offering a discount of Rs 6 lakh ...

Audi appoints Gernot Doellner as its new CEO

Doellner has served as the head of product development at Porsche and worked on the Panamera from 2011 to 2018. German luxury car maker Audi, part of the Volkswagen Group, has appointed Gernot Doellner as its new CEO. Doellner, who ...

Maharashtra: Cops to impose heavy fines to curb underage driving

Children who violate the rules will be prohibited from obtaining a driving license until the age of 25. The state government of Maharashtra has made amendments to the Motor Vehicles Act 1988 in an effort to curb underage driving. The ...

Ex-Audi boss sentenced for fraud over 2015 dieselgate scandal

The diesel emissions scandal cost Volkswagen more than $30 billion in fines and settlements Rupert Stadler, Former boss of Audi, has become the highest-ranking executive to be convicted of fraud in the diesel emissions scandal from 2015. According to reports, ...

Chandigarh: No Road Tax on Strong and Plug-In Hybrids

With the tax waiver, the on-road price of hybrid models is expected to be reduced by at least Rs 78,000. The Chandigarh transport department has decided to waive off-road tax on strong hybrid and plug-in hybrid vehicles for a limited ...

Govt. proposes third-party motor insurance premiums for FY2024

The government has proposed a minimum premium of Rs 2,094 for private cars below 1,000cc. The Ministry of Road Transport and Highways (MoRTH) has issued the draft third-party motor insurance premium and liability rules for FY2024. As per the notification, ...

Govt to penalize e-scooter makers guilty of FAME II violations

The government has sent notices to seven EV makers to recover nearly Rs 500 crore. The Government of India is planning to penalize electric scooter manufacturers that have been found guilty of wrongfully claiming subsidies under the FAME II scheme. ...

Volvo India to adopt 'Direct-to-Customer' retail sales model

The Direct-to-Customer model allows brands to invoice the cars directly to the customers. Taking a leaf out of Mercedes’ books, Volvo Cars India has become the second carmaker to adopt the ‘Direct-to-Customer’ retail sales model. According to Jyoti Malhotra, Managing ...

Volkswagen's EV platform achieves new production milestone

The milestone was achieved across the VW Groups five brands Volkswagen has achieved a new milestone with its MEB electric platform, registering the production of 1 million EVs. The MEB platform was introduced by the Volkswagen Group back in 2018 ...

JSW Group's Sajjan Jindal could acquire 45-48% stake in MG India

JSW Group’s listed entities: JSW Steel and JSW Energy, will not have any exposure to this venture. Sajjan Jindal, Chairman and Managing Director of the JSW Group, is said to be in the race to acquire a majority stake in ...

Chandigarh to stop registering petrol cars & bikes by end-2023

4,032 petrol 2-wheelers have already been registered since April 1, 2023, compared to just 257 electric 2-wheelers. The Chandigarh administration is set to stop registering petrol bikes from July and petrol-powered cars from December 2023. Last year, the union territory ...

Delhi: Supreme Court bans Uber, Rapido bike taxis

The government had warned aggregators from plying bike taxis in the city or facing a fine of up to Rs 1 lakh. The Supreme Court has overturned the Delhi High Court’s decision to allow Uber, Rapido and other bike taxis ...

Tata Motors dealerships turn profitable after a decade

In FY2020, only 43% of its dealers were profitable. This figure has now risen to almost 99%. According to a media report, Tata Motors dealerships have turned profitable for the first time in nearly a decade. In FY2020, only 43% ...

Honda to launch 5 new SUVs in India by 2030

While the Elevate Hybrid has been ruled out, the Elevate EV will be introduced in the next 3 years. SUVs account for 40% of the passenger vehicle segment in India. A lack of SUVs in its portfolio has resulted in ...

Nissan Magnite production crosses the 1,00,000 unit mark

The Nissan Magnite is available in four trims with prices starting at Rs 6 lakh (ex-showroom). Nissan has achieved a new production milestone with the rollout of the 1,00,000th Magnite from its Chennai plant. The Nissan Magnite was launched in ...

Indian Oil working on 5% ethanol blended diesel

Experiments are being carried out to see the effects of ethanol-blended diesel on engine components. Indian Oil and two domestic engine manufacturers are said to be working on 5% ethanol blending in diesel. According to SSV Ramakumar, Director (R&D), Indian ...

Industry & Policy

TECH NEWS LATEST

CATEGORIES