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EV import scheme can affect Hyundai’s business
This policy will enable foreign OEMs to set up manufacturing bases in India, and also enter the domestic sales market, which will also intensify competition in the industry.Read more
BMW and German automakers express concerns over EV Policy favouring new entrants
The Indian government has given the green light to a new electric vehicle scheme with tax relief aimed at positioning India as a prime manufacturing hubRead more
Hanif Qureshi proposes scheme to boost EV adoption, manufacturing in India
On 13 March, 2024 Prime Minister Narendra Modi government unveiled the Electric Mobility promotion Scheme (EMPS) 2024, with a focus to encourage the purchase of electric two-wheelers (e2W) and three-wheelers (e3W) in the countryRead more
Indian auto industry is coming of age
Indian auto industry has come a long way; from the “permit” raj era to becoming the world's third largest automobile market today. R Jayaraman examines the key drivers behind this success.Read more
Hyundai Motor India expands production capacity with Talegaon plant acquisition
The signing of a Memorandum of Understanding (MoU) between Hyundai Motor India and the Government of Maharashtra marks a significant step in expanding the cumulative production capacity to 1 million annual units.Read more
Indian auto exports decline 21% in 2023, passenger vehicles buck trend with 5% growth
This downturn was attributed to monetary and geopolitical crises in various overseas markets. The overall exports totalled 42,85,809 units in the last year, down from 52,04,966 units in 2022.Read more
TN secures $4.39 bn investments from Apple, Hyundai, and more
Key deals signed include a $1.4 billion investment by JSW Energy in renewable energy projects, a $1.5 billion investment by Tata Electronics in mobile phone assembly operations, and a nearly $125 million investment by Nike shoemaker Hong Fu.Read more
TN secures billion in investments sectors at Global Investors Meet
Agreements were signed, including a significant investment of Rs 16,000 crore from Vietnamese electric vehicle player VinFast, earmarked for establishing an EV manufacturing facility in the southern district of Thoothukudi.Read more
Cyclone Michaung paralyzes Chennai: Major industries. IT hubs grapple with floods
The production at six prominent auto component units, including Lucas TVS, Wheels India, Sundram Fasteners, Sundaram Clayton, and Brakes India, faced disruptions for the third consecutive day.Read more
Hyundai unveils AI-driven factory, provides custom cars in six hours
The cutting-edge approach, inaugurated at the Hyundai Innovation Centre in Singapore and currently dedicated to crafting the Hyundai Ioniq 5.Read more
