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Indian govt considers exempting key EV components from localisation norms
However, this new consideration is met with opposition from local players such as Mahindra & Mahindra and Tata Motors, as well as foreign companies with decades-long operations in India.Read more
UK-India FTA talks centered on mid-range Electric Vehicles market access
The British government is determined to gain access to India’s mid-priced EV market, particularly in the $40,000-$60,000 (Rs 33.30-49.9 lakh) range.Read more
August sets new record for domestic passenger vehicle sales in India
Utility vehicles like Brezza, Grand Vitara, Jimny, Ertiga, and XL6 experienced a substantial two-fold increase with sales surging from 26,932 units in August of the previous year to 58,746 units.Read more
Marvel Gloves’ products are certified as per the international standard
In this interview, Manal Farooq, Head Marketing, Marvel Gloves Industries, shares that company will be launching new range of ear protection items by the end of 2023.Read more
Indian Automobile Industry valued at $108 bn in 2022-23: Primus Partners
The automobile industry produced value of Rs 8.7 lakh crore in 2022-23 and India produced 2.7 crore vehicles and is 3rd in passenger vehicles and 1st in 2 wheelers globally. Read more
Hyundai Motor India exchanges MoU with TN govt, planning to invest Rs 20,000 Cr
Hyundai Motor India Limited (HMIL) is planning for a long-term investment in the state of Tamil Nadu for over the period of 10 years (2023 to 2032) with a plan to increase production volumes and introduce new electric vehicle models. Read more
Hyundai Motor signs term sheet for potential acquisition with General Motors
Hyundai Motor India Limited (HMIL) today signed a term sheet with General Motors India (GMI). Proposed acquisition covers identified assets at GMI, Talegaon Plant, Maharashtra. Read more
Intelligent actuators provide flow control at Korean chemical plant
Over a 100 multi-turn and part-turn intelligent electric actuators have been installed at a new petrochemical site in Daesan, South Korea. The IQ actuators - supplied by Rotork - will provide flow control at the plant which produces ethylene, polyethylene and propylene.Read more
Govt selects 4 bidders for PLI scheme for ACC battery storage
The government expects direct investment of around Rs 45,000 crore in Advanced Chemistry Cell (ACC) battery storage manufacturing projects.Read more
India’s PLI Scheme draws Rs. 11.5 trillion FDI for manufacturing in India
While we get clarity on whether the government chooses to battle the retrospective tax against the order given by the Supreme Court in favour of the struggling Vodafone, India’s PLI scheme has made great headway in attracting FDI for manufacturing in India.Read more