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Scheme to encourage faster adoption of EVs by incentives: Sitharaman
short by Pragya Swastik / on 05 Jul 2019,Friday
Finance Minister Nirmala Sitharaman while presenting the Union Budget announced that 'FAME II' scheme aims to encourage faster adoption of electric vehicles by right incentives and charging infrastructure. The government has allocated ₹10,000 crore for faster adoption of electric vehicles, she added. Notably, the Environment Ministry recently deployed a few electric cars for official use.
short by Pragya Swastik / 12:00 pm on 05 Jul
Govt focus on electric mobility and EVs inspiring: Ola CEO on Budget
short by Pragya Swastik / on 06 Jul 2019,Saturday
Reacting to Union Budget 2019, Ola Co-founder and CEO Bhavish Aggarwal said, "The government's focus on electric mobility and electric vehicles is inspiring." He said, "Lower GST rate, interest subvention for EV loans, and the commitment of ₹10,000 crore towards FAME II are encouraging." He added that startup-friendly measures will encourage India's youth to create value, wealth and livelihood opportunities.
short by Pragya Swastik / 10:43 am on 06 Jul
US okays $2.25 bn SoftBank investment in GM-backed self-driving firm
short by Pragya Swastik / on 07 Jul 2019,Sunday
The Committee on Foreign Investment in the US (CFIUS) has approved SoftBank's $2.25 billion investment in General Motors-backed driverless technology company Cruise Automation. SoftBank will have a spot on Cruise's board as a result of the deal. Cruise has raised $7.25 billion in capital since last year, the company said.
short by Pragya Swastik / 07:13 pm on 07 Jul
Maruti Suzuki cuts production in June for 5th month in a row
short by Pragya Swastik / on 07 Jul 2019,Sunday
Maruti Suzuki India has cut vehicle production for the fifth consecutive month in June, according to a regulatory filing. The auto major's total vehicle production was slashed by 15.6% in June to 1,11,917 units as compared to 1,32,616 units in the year-ago month. In May, overall passenger vehicle wholesale in India witnessed the steepest decline in nearly 18 years.
short by Pragya Swastik / 05:37 pm on 07 Jul
Lee Iacocca, who created Ford Mustang and rescued Chrysler, dies
short by Krishna Veera Vanamali / on 03 Jul 2019,Wednesday
Lee Iacocca, the US auto industry executive who created the Ford Mustang and saved Chrysler from bankruptcy in the 1980s, has died at the age of 94. Iacocca, who joined Ford in 1946, became its President in 1970 but was fired eight years later by the founder's grandson, Henry Ford II. He retired as Chrysler's chairman and CEO in 1992.
short by Krishna Veera Vanamali / 03:40 pm on 03 Jul
VW to put $2.6 bn in Ford-backed self-driving startup Argo
short by Kanishka Pandey / on 13 Jul 2019,Saturday
German multinational automaker Volkswagen is investing $2.6 billion in capital and assets into Ford-backed self-driving startup Argo AI, at a valuation of over $7 billion, the startup revealed. The deal is part of a broader alliance between the German automaker and US-based Ford, which covers autonomous and electric vehicles. Ford had invested $1 billion in Argo AI two years ago.
short by Kanishka Pandey / 10:30 am on 13 Jul
Volkswagen ends production of its iconic Beetle car after 8 decades
short by Pragya Swastik / on 11 Jul 2019,Thursday
Volkswagen's Beetle production officially came to an end after over eight decades as the last Beetles produced rolled off the assembly line in Puebla, Mexico on Wednesday. A special ceremony at factory marked the end of production. The last Beetles will be sold on Amazon in a move symbolising Volkswagen's embrace of the future, Volkswagen Mexico CEO Steffen Reiche said.
short by Pragya Swastik / 04:41 pm on 11 Jul
Maruti Suzuki to be investigated for discounting practices
short by Krishna Veera Vanamali / on 05 Jul 2019,Friday
The Competition Commission of India on Thursday said it had ordered an investigation into how Maruti Suzuki controlled discounts its dealers could offer. Reuters had reported in May that the antitrust regulator was looking into allegations that Maruti forces its dealers to limit the discounts they offer. Maruti has a 51% market share and nearly 3,000 dealers in the country.
short by Krishna Veera Vanamali / 09:00 am on 05 Jul
Sued ex-Tesla employee admits to storing Autopilot source code
short by Kanishka Pandey / on 12 Jul 2019,Friday
Former Tesla employee Guangzhi Cao has admitted that he stored the source code of the electric carmaker's Autopilot on his iCloud but refuted allegations of trade theft, as per court documents. Cao, who joined Tesla-rival Xiaopeng Motors in November 2018, argued he made "extensive efforts to delete and/or remove any such Tesla files". Tesla had sued Cao in March.
short by Kanishka Pandey / 09:30 am on 12 Jul
BMW, Mercedes to co-develop Level 4 self-driving systems by 2024
short by Kanishka Pandey / on 05 Jul 2019,Friday
German luxury automakers BMW and Mercedes-parent Daimler have entered into a long-term partnership to develop Level 4 self-driving cars systems with a launch planned for 2024. The cars would be able to handle freeway driving chores without human intervention, including driver assist and automated parking systems. BMW said it plans to launch a Level 3 self-driving car in 2021.
short by Kanishka Pandey / 09:26 pm on 05 Jul
Waymo gets California permit to transport people in self-driving cars
short by Arundhati Rawat / on 03 Jul 2019,Wednesday
Alphabet's self-driving unit Waymo received California regulators' approval to transport passengers in its robotaxis, TechCrunch stated. Waymo said California Public Utilities Commission allows it to participate in their Autonomous Vehicle Passenger Service pilot, letting its staff hail its vehicles and bring guests on rides. Waymo can’t charge for rides and must have safety drivers in vehicles.
short by Arundhati Rawat / 05:12 pm on 03 Jul
Battery module caused Shanghai car fire, not system defect: Tesla
short by Kanishka Pandey / on 30 Jun 2019,Sunday
Elon Musk-led electric carmaker Tesla has said the Shanghai parked Model S car explosion in April was due to a single battery module and isn't a system defect. Tesla has revised its software update to change battery charge and thermal management settings. The update was first announced in May after an investigation into another Hong Kong fire incident.
short by Kanishka Pandey / 09:30 am on 30 Jun
The worst isn't yet over for the auto industry amid a slowdown in sales, Mahindra and Mahindra's MD Pawan Goenka said. "I suggest...government remove the cess on small cars and keep 17% single cess rate for large cars for next four-six months," he added. Diesel vehicle costs are expected to rise after BS-VI emission norms come into effect in 2020.
short by Dharna / 04:22 pm on 15 Jul
June passenger vehicle sales fall 17.5%, car sales down 24%
short by Dharna / on 10 Jul 2019,Wednesday
India's domestic passenger vehicles sales declined by 17.54% year-on-year in June to 2,25,732 units, according to the Society of Indian Automobile Manufacturers (SIAM). The domestic sales of passenger cars in June fell by 24.07% to 1,39,628 units compared to 1,83,885 units in June 2018. Earlier, India's largest carmaker Maruti Suzuki cut production for a fifth straight month in June.
short by Dharna / 06:25 pm on 10 Jul
Ministry of Environment gets electric cars for official use
short by Arundhati Rawat / on 04 Jul 2019,Thursday
The Ministry of Environment, Forest and Climate Change (MOEF&CC) tweeted that it has acquired electric cars for official use. MOEF&CC added it will be utilising in-house charging facilities and setting an example in pollution-free commutes. Recently, government think tank NITI Aayog reportedly proposed that only electric vehicles be sold in the country after 2030.
short by Arundhati Rawat / 09:30 pm on 04 Jul
Dutch startup's ₹94-lakh solar car prototype has a 725-km range
short by Kanishka Pandey / on 26 Jun 2019,Wednesday
Dutch startup Lightyear unveiled its about $135,000 (nearly ₹94 lakh) Lightyear One car prototype with a 725-km range and a battery that can be charged via sunlight besides conventional charging. The car's roof and hood are covered with five square meters of solar cells beneath safety glass. Lightyear revealed solar charging adds up to 12 kmph of charge to it.
short by Kanishka Pandey / 11:00 am on 26 Jun
Stop calling luxury cars 'sin' goods, reduce GST: JLR to govt
short by Arundhati Rawat / on 01 Jul 2019,Monday
As per Jaguar Land Rover India, the government should stop classifying luxury cars as 'sin' goods and reduce the tax burden on them. "If you classify [luxury vehicles] as sin goods...every five-star hotel should be sin...people going there should be called sinners," MD Rohit Suri said. He added luxury vehicles' market size is small due to the high GST rate.
short by Arundhati Rawat / 10:00 am on 01 Jul
Lowering GST on automobiles would help the economy: Mahindra
short by Shruti Maria Mahendar / on 26 Jun 2019,Wednesday
Mahindra Group Chairman Anand Mahindra has said lowering GST on automobiles would help the economy. The auto industry has a huge multiplier effect on small companies and employment, he tweeted. Mahindra's statements come amid a sales slump in the industry, with passenger vehicle sales recording the steepest decline in nearly 18 years in May when it dropped by over 20%.
short by Shruti Maria Mahendar / 09:37 pm on 26 Jun
Hero, Bajaj, TVS object NITI’s move for all-electric two-wheelers
short by Shruti Maria Mahendar / on 25 Jun 2019,Tuesday
Hero MotoCorp, Bajaj Auto and TVS Motor have criticised NITI Aayog's plan to convert all two-wheelers below 150cc to electric, saying it's uncalled for and could jeopardise the industry. The transition "won't reduce one iota of pollution", TVS Motor Chairman Venu Srinivasan said. Targeting two- and three-wheelers and not cars makes the initiative incomplete, Bajaj Auto MD Rajiv Bajaj said.
short by Shruti Maria Mahendar / 08:27 pm on 25 Jun
Tesla delivered record 95,200 cars in second quarter of 2019
short by Arundhati Rawat / on 03 Jul 2019,Wednesday
Elon Musk-led electric automaker Tesla announced it has achieved record production of 87,048 vehicles and record deliveries of approximately 95,200 vehicles in the second quarter of 2019. In the first quarter, Tesla had produced approximately 77,100 vehicles and delivered approximately 63,000 vehicles. Tesla said it will enter the third quarter with an increase in its order backlog.
short by Arundhati Rawat / 10:16 pm on 03 Jul
BMW's 4-year CEO quits months after weakest earnings in 10 years
short by Kanishka Pandey / on 06 Jul 2019,Saturday
German automaker BMW has announced that Harald Krüger has decided to not seek a second term as the CEO, after serving at the role for about four years. Krüger, a 27-year company veteran, served at the luxury carmaker's board for 10 years. This comes months after BMW posted its weakest quarterly earnings in about a decade for the first quarter.
short by Kanishka Pandey / 09:10 pm on 06 Jul
BMW to offer 25 e-vehicles in 2023, two yrs earlier than planned
short by Arundhati Rawat / on 25 Jun 2019,Tuesday
BMW Board of Management Chairman Harald Krüger said, "We will offer 25 electrified vehicles already in 2023 – two years earlier than originally planned." Over half of the 25 models will be fully electric. "We expect to see a steep growth curve towards 2025: Sales of our electrified vehicles should increase by an average of 30% every year," Krüger said.
short by Arundhati Rawat / 11:30 pm on 25 Jun
Petrol pumps in India may get electric vehicle charging points
short by Arundhati Rawat / on 01 Jul 2019,Monday
The government is reportedly looking to implement a battery manufacturing and charging framework including using petrol pumps for electric vehicle charging points. Currently, there are reportedly about 60,000 state-run petrol pumps in India with plans to add about the same number. This reportedly comes amid auto lobby resistance to proposal to convert two-wheelers under 150 cc to electric by 2025.
short by Arundhati Rawat / 09:33 pm on 01 Jul
All-electric trucks make no sense for long-distance travel: BMW CTO
short by Arundhati Rawat / on 25 Jun 2019,Tuesday
BMW CTO and Board of Management member Klaus Fröhlich, while talking about battery-powered long-haul tractor-trailer trucks versus fuel cells, insisted fuel cells have a future while batteries don't. "If you look at the range of a truck you would need a 16-ton payload only for the battery which is...nonsense," he said. "All-electric trucks are complete bullshit for long-distance," he added.
short by Arundhati Rawat / 11:14 pm on 25 Jun
Hero MotoCorp appoints Rajat Bhargava as head of EV business
short by Dharna / on 09 Jul 2019,Tuesday
India's largest two-wheeler maker Hero MotoCorp on Tuesday appointed Rajat Bhargava as the head of its new 'Emerging Mobility' business unit. Hero created the unit to give an impetus to new mobility trends such as Electric Vehicles, the company said. Currently, Bhargava is the Head of Strategy & Performance Transformation and Global Business at the company.
short by Dharna / 06:01 pm on 09 Jul
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