Govt extends PLI scheme for automobile, auto components for 1 year
Under the amended scheme, the incentive will be applicable for a total of five consecutive financial years, starting from the financial year 2023-24.
Under the amended scheme, the incentive will be applicable for a total of five consecutive financial years, starting from the financial year 2023-24.
The data released by the Federation of Automobile Dealers' Associations (FADA) attributed the spike the sales to a positive market sentiment driven by favourable monsoon.
Ultraviolette Automotive Pvt Ltd on Tuesday expanded its ongoing Series D round led by Qualcomm Ventures and Lingotto. According to sources, the company raised $24 million in the expanded round, taking the total funding in Series D to $34 million to date.
Tata Motors has bagged an order for 1,000 buses from Haryana Roadways. As per the contract, the auto major will supply the 52-seater fully built BS6 diesel buses in a phased manner.
Tata Motors has announced that its revenue went up 29.7 per cent to Rs 79,600 crore in revenue for the quarter ended September 2022 over the previous year's figures. The company said its operating profits or earnings before interest, taxes, depreciation, and amortization was at 9.7 per cent, a jump of 130 basis points over last year's.
MT Autocraft, a leading supplier of machined components and assemblies, on Wednesday announced the launch of electric mobility company MTA E-Mobility Pvt Ltd (MTA EV) with a seed funding of Rs 100 crore.
Hyundai's sales climbed 7 percent to 60,604 units last month from 56,761 a year ago, while Kia's were up 12 percent to 58,276 from 52,067 during the same period, the data showed, reports Yonhap news agency.
The recent release of the Indian Blue Book (IBB) report 2022 estimates the used car market at USD 23 billion in FY22 and speculates it to grow at a double rate of 19.5 per cent CAGR till FY27.
The connected car penetration surpassed that of non-connected cars for the first time ever globally, capturing almost 50.5 per cent share in the second quarter (Q2) this year. 5G-ready car sales surpassed half a million, though 4G accounted for 90 per cent of connected car sales.
In 2021, Cambodia exported a total of $630.69 million worth of bicycles, climbing by 20.58 per cent over the $523.04 million booked in 2020, according to the finance ministry.
