ELECTRIC VEHICLE MANUFACTURING
Trump’s tariff not applicable on Canadian auto parts under CUSMA compliance
Canadian auto parts meeting CUSMA standards are exempt from new U.S. tariffs, providing relief to Canada's auto industry. This exemption safeguards economic growth and jobs in key provinces, reinforcing CUSMA's role as a shield against trade disruptions. The decision eases tensions and highlights the value of free trade within North America.
Ola Electric disputes insider trading report, says trades were routine Esop exercises
The Bhavish Aggarwal-led company clarified that the trades referred to were routine transactions involving shares acquired through the exercise of Esops and not through open market purchases. Earlier in the day, news platform NDTV Profit, citing sources, reported that Sebi was looking into two instances of alleged insider trading at Ola Electric between October and December 2024.
As SUV battle intensifies, Mahindra & Tata overtake Hyundai in April dispatches
Mahindra and Tata Motors have surpassed Hyundai in domestic vehicle dispatches for April 2025. This marks a shift in the Indian passenger vehicle market. Mahindra secured the top spot, followed by Tata Motors, pushing Hyundai to third. Mahindra experienced growth, while Hyundai and Tata faced declines. Economic factors and inventory adjustments influenced these changes.
E-bus maker Eka Mobility raising Rs 200-300 crore from Enam Holdings
Eka Mobility, an electric vehicle manufacturer, is reportedly raising Rs 200-300 crore from Enam Holdings to fuel its expansion plans. The deal, structured as a convertible, could potentially elevate the company to near unicorn status, contingent on achieving specific performance targets.
Zoho-owned Silectric Semiconductor shelves chip fab plan in Mysuru
The Karnataka government in December last year had announced that the State's first semiconductor project would come up at the Kochanahalli Electronics Manufacturing Cluster near Mysuru. Karnataka chief minister Siddaramaiah hails from the district and represents it in the Assembly. Zoho had sought 40 acres of land at the EMC cluster at Kochanahalli, Mysuru.
Maruti Suzuki's top boss explains why small cars that revolutionised Japan market is needed in India amid SUV craze
Maruti Suzuki Chairman R C Bhargava proposes a new category of smaller, city-focused cars, inspired by Japan's Kei cars, to bridge the affordability gap between two-wheelers and entry-level cars. He highlights the need to address the challenges faced by two-wheeler owners, who constitute a significant portion of commuters and road accident fatalities.
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Maharashtra policy on EVs will position state as national leader in sustainable mobility: Tata Motors
Maharashtra's new Electric Vehicle Policy 2025 aims to establish the state as a leader in sustainable mobility by offering subsidies on EV purchases and waiving tolls on key highways. The policy, with a budget of Rs 1,993 crore, focuses on expanding charging infrastructure and incentivizing EV adoption across various vehicle categories.
JBM EV ties up with Hitachi ZeroCarbon for battery management solutions
JBM Electric Vehicles has partnered with Hitachi ZeroCarbon to deploy battery management solutions in its e-buses. Hitachi's ZeroCarbon BatteryManager will collect real-time data from JBM's pilot fleet, providing insights into charging, route optimization, and asset usage. This collaboration aims to enhance battery performance, extend battery life, and maximize residual value, particularly in diverse climates like India and the Middle East.
UNO Minda, JV boards approve project report for EV power train products
UNO Minda Ltd and Suzhou lnovance Automotive have approved a Rs 423 crore project to develop and manufacture high-voltage EV power train products through their joint venture. UNO Minda's board has also approved a Rs 114 crore investment for a 70% stake in the JV, which will focus on components for four-wheeler passenger and commercial electric vehicles.
JSW MG Motors sets in motion up to $350 million fund raise from PE investors
JSW MG Motor India plans to secure $300-350 million for expansion. The funds will support new models and increased capacity. This follows a financial turnaround and the success of the Windsor EV. JSW MG aims for EVs to constitute 65% of sales by 2025. The company will introduce five new models this year.
Subsidy, toll waiver: Maharashtra govt seeks to boost electric mobility under new EV Policy
Maharashtra's cabinet has approved the Electric Vehicle Policy 2025, allocating ?1,993 crore to boost EV adoption and reduce air pollution. The policy offers subsidies on EV purchases, waives registration fees, and provides toll waivers for EVs on key expressways. Charging infrastructure will be strengthened, with facilities planned every 25 km on national highways, promoting clean mobility until 2030.
SML Isuzu acquisition to help M&M scale up its CV biz: MD & CEO Anish Shah
Mahindra & Mahindra's acquisition of SML Isuzu aims to establish a strong fourth position in the over 3.5-tonne truck and bus segment, targeting a 10-12% market share within five years. This deal will boost Mahindra's presence in the 5-12 tonne bus category to 21% and accelerate its entry into the electric bus market, leveraging SML Isuzu's EV advancements.
Industrial Output grows 3% in March; Gains in power & manufacturing sectors help overall growth
India's industrial output saw a 3% year-on-year increase in March, driven by growth in electricity and manufacturing, according to official data. While overall industrial activity grew by 4% in FY25, it was lower than the previous year. Key sectors like basic metals, motor vehicles, and electrical equipment contributed positively, while mining slowed down.
Is Elon Musk tearing down the agency that helped build Tesla? DOGE targets the Department of Energy
Fifteen years ago, a US Department of Energy loan of $465 million rescued Elon Musk's struggling Tesla, enabling factory acquisition and Model S development. Now, Musk's team, within the Trump Administration's DOGE, targets the DOE for drastic cuts. This initiative has led to significant staff layoffs and project cancellations by companies like Kore Power and PG&E.
Is New York turning against Tesla? Lawmakers push to shut down Elon Musk’s dealerships
New York legislators plan to shut down Tesla's dealerships. A bill aims to remove a waiver allowing Tesla's direct sales. Senator Patricia Fahy, once a Tesla supporter, now leads the opposition. Her shift stems from Elon Musk's political ties. She cites his involvement with Donald Trump's administration. The bill is now with Senate and Assembly finance committees.
With SML Isuzu acquisition, Mahindra eyes bigger play in more than 3.5 tonne truck, bus market
Mahindra & Mahindra will acquire a majority stake in SML Isuzu. This acquisition aims to make Mahindra a significant player in the truck and bus segment. The deal will also boost Mahindra's presence in the electric bus market. Mahindra targets a substantial market share increase in the coming years.
Low maintenance, ideal for intra-city travels- Why this EV user believes electric cars are a costly, but worthy investment
For someone who primarily uses their vehicle for intra-city travel, Bala Pachyappa, CEO of ARAM feels that four-wheel personal EVs are the ideal urban solution. They are clean, quiet, responsive and cost-effective. Yes, there have been hiccups along the way, but that’s part of adopting any emerging technology, he notes. However, serious lack of charging infrastructure, among others, remains a key challenge.
Why your EV insurance premium is costlier and features you must have in EV motor insurance policy
Electric vehicle insurance premiums are notably higher than those for traditional cars due to EVs' higher purchase prices and costly battery replacements. Specialized parts, the need for trained technicians, and limited repair networks further contribute to increased costs. Comprehensive policies with battery protection, zero depreciation, and roadside assistance are crucial for EV owners to mitigate potential financial burdens.
Tariffs are bad for EVs, but some models may have a leg up
President Trump's proposed tariffs on imported auto parts could significantly impact the electric vehicle market. While potentially benefiting some U.S.-made EV models like Tesla's Model Y and Volkswagen's ID.4, the tariffs risk raising prices for all vehicles and hindering EV manufacturing, potentially ceding ground to Chinese automakers.
Tesla strengthens India presence with new office near Mumbai’s BKC
Tesla Inc. is deepening its India plans by leasing a 30-seater private office space in Mumbai's Kurla area, near the Bandra-Kurla Complex business district, for ?3 lakh per month. This move follows Prime Minister Modi's meeting with Elon Musk and indicates Tesla's accelerated approach to entering the Indian EV market, supporting local hiring and regulatory coordination.
Hindalco to spend Rs 4,500 crore on EV components as part of capex
Hindalco Industries plans to allocate approximately 10% of its ?45,000 crore capital expenditure to electric vehicle components. This includes investments in battery foil and flat-rolled products plants in Odisha, and an extrusion plant in Silvassa. The company is also considering further investments in auto component manufacturing, potentially in Gujarat.
Hindalco forays into EV component manufacturing; delivers 10,000 aluminium battery enclosures to M&M
Hindalco Industries has launched a Rs 500-crore EV component manufacturing plant in Chakan, Pune, to meet the rising demand for lightweight battery solutions. They also delivered 10,000 aluminium battery enclosures to M&M Ltd. The enclosures offer a 40% weight reduction and improve driving range by 8-10%, aligning with the 'Make in India' vision and creating 1,000 jobs.
Change on cards for EV manufacturing policy
India is considering modifying its electric car manufacturing policy (SPMEPCI) to accommodate potentially lower import tariffs under a future India-US trade agreement. The scheme, designed to attract EV investments with discounted import duties, faces uncertainty due to pressure from the US to reduce tariffs. Lowering import duties could necessitate adjustments to SPMEPCI to maintain its attractiveness for manufacturers.
'Trucks, CVs to get new safety norms': Nitin Gadkari
India will soon implement a safety assessment and rating system for trucks and commercial vehicles, mirroring the BNCAP for cars, according to Minister Nitin Gadkari. The initiative aims to enhance vehicle production quality and safety.
Major overhaul of car, bike ownership rules under planning in Delhi as part of efforts to shed polluter tag
Delhi is planning drastic measures to combat pollution, including limiting petrol and diesel car purchases per family and banning sales of fuel-guzzling two-wheelers by 2027. The city aims for 30% EV penetration by 2030, offering incentives for EVs and hybrids while imposing a levy on petrol sales. These steps target air pollution and promote energy independence.
Will the Harley hangover be over sooner than later? 6 auto stocks with an upside potential of up to 55%
In a world where emotions and emotional statements are now playing a big role in the movement of stock prices, it is important to differentiate between (rumour/narrative/assumption) and reality. Now, why have we put those three words in brackets? Because, at times, it is difficult to differentiate between the three on the street. Check out Stock Reports Plus, powered by Refinitiv, for price targets of over 4,000 listed stocks along with detailed company analysis focusing on five key components – earnings, fundamentals, relative valuation, risk, and price momentum – to generate standardized scores. SR+ Reports is a complimentary offering to ETPrime members.
Tesla's EU sales plunge 45% as Elon Musk takes flak
Tesla electric car sales in Europe plunged in the first three months of the year, industry data showed Thursday, in a fresh blow to its boss Elon Musk who has been criticised for his work in US President Donald Trump's administration. Musk promptly announced he would scale back his work for the Trump administration in May to focus on Tesla.
Tesla rival VinFast plans to open India plant by end of June
VinFast, the Vietnamese electric vehicle manufacturer, is shifting its focus to Asia due to slow progress in the United States and high logistics costs in America and Europe. The company plans to open a car assembly plant in India by the end of June and another in Indonesia in October.
EVs, tariffs in spotlight as Chinese automakers take leading role at Shanghai auto show
Automakers are showcasing new models at the Shanghai auto show, navigating a complex landscape of trade tensions and fierce competition. Chinese manufacturers are gaining ground both domestically and globally, particularly in the electric vehicle sector, while foreign companies adapt strategies to maintain their presence in the crucial Chinese market.
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