Automotive Industry Roundup: News & Updates (April 2024) #AutomotiveNews #IndustryUpdates
. Let's dive into the latest news and updates that have been making headlines.
- Toyota Fortuner LEADER EDITION Launched in India 🚗 Toyota Kirloskar Motor (TKM) has unveiled the Fortuner LEADER EDITION in the Indian market, building upon the renowned features of the popular SUV with distinctive design and add-on features. Source: Toyota Bharat
- New Aston Martin Vantage Arrives in India 🏎️ Aston Martin has officially launched the upgraded Vantage sports car in India, priced at ₹3.99 crore (ex-showroom). The new Vantage features numerous changes over its predecessor, both on the surface and under the skin. Source: CarandBike
- Netradyne Expands UK Operations with Intelex Partnership 🚚 Netradyne, a vision-based safety camera system provider, has expanded its operations in the UK market through a partnership with Intelex, an aftermarket vehicle safety solutions provider. Source: AutocarPro
- ARAI Receives 13 Bids for Green Hydrogen Pilot Projects 🌱 The Automotive Research Association of India (ARAI) has received thirteen technical bids for pilot projects focused on the use of green hydrogen in the transport sector. Source: AutocarPro
- Seven Bids for Setting up Giga-Scale ACC Manufacturing Facilities 🔋 The Ministry of Heavy Industries (MHI) has received bids from seven companies to set up giga-scale Advanced Chemistry Cell (ACC) manufacturing facilities with a cumulative 10 GWh capacity under the PLI ACC scheme. Source: PIB
- Automobile and Auto Parts Companies Invest ₹13,000 Crore in EV and EV Parts Manufacturing 🔌 Under the government's Production Linked Incentive (PLI) scheme, automobile and auto parts makers in India invested a total of ₹13,000 crore in the past year for manufacturing green vehicles and related parts. Source: Economic Times
- ICRA Expects ₹25,000 Crore Capex for EV Components in 3-4 Years 🚀 According to ICRA, at least ₹25,000 crore of capital expenditure is expected for EV components in the next three to four years, with 45%-50% being directed towards battery cells. Source: Upstox
- Ecofy and Vidyut Offer Subscription-Based Battery-as-a-Service Model for EV Sales ⚡ Ecofy and Vidyut have joined forces to introduce a subscription-based battery-as-a-service model for EV sales, aiming to make the adoption of EVs stress-free and risk-free through a hybrid financing model. Source: Economic Times
- Ultraviolette F77 Mach 2 Electric Motorcycle Launched 🔋🏍️ Electric two-wheeler startup Ultraviolette Automotive has unveiled the updated F77 Mach 2 electric motorcycle, likely featuring improved power output, features, and range compared to the previous model. Source: CarandBike
- 2024 Jawa Perak Gets Engine Updates for Better Performance and Refinement 🛠️ Jawa-Yezdi motorcycles has introduced mechanical enhancements to the 2024 Jawa Perak, including micro-geometry modifications and new gearbox covers, aiming to improve performance, reduce noise, vibration, and harshness (NVH), and enhance overall ride comfort. Source: CarandBike
- Ampere Nexus Electric Scooter to be Launched on April 30 🛵 Greaves Electric Mobility's two-wheeler brand Ampere is gearing up to launch the Nexus electric scooter in India on April 30. Positioned as a premium offering, the Nexus is expected to be the most feature-rich Ampere scooter yet and will likely replace the Primus model. Source: CarandBike
- Bajaj Pulsar NS400 Teased Ahead of Launch 🔥 Bajaj has teased the upcoming Pulsar NS400, the biggest and most powerful Pulsar yet, ahead of its launch in India on May 3, 2024. The teaser video gives a glimpse of the motorcycle's rear alloy wheel and a side-mounted tire hugger. Source: CarandBike
- CCI Approves IFC's Subscription to CCDs of Napino Auto and Electronics Limited 📈 The Competition Commission of India (CCI) has approved the subscription of Compulsory Convertible Debentures (CCDs) of Napino Auto and Electronics Limited by the International Finance Corporation (IFC). Source: PIB
- RCRS Innovations Files for IPO, Aims to Expand Battery Manufacturing 💰 Lithium battery and solar panel manufacturer RCRS Innovations Ltd has filed draft papers with NSE Emerge to raise funds through