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BMW to launch 24 new products in India

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BMW bolsters network presence, goes to Vizag

Ge r m a n l u x u r y au t o m o t ive g r o u p BMW is expecting a ‘mega year’ in India in 2022 having clocked 25 per cent rise in four-wheeler sales and 41 per cent jump in two-wheelers in the first quarter despite challenges of semiconductor shortage, war in Ukraine and shutdowns due to COVID-19 in China, according to a senior company official. The BMW group has also lined up 24 products to be introduced in India this year — 19 in the four-wheeler segment, including t h e a l l – e l e c t r i c sedan i4 in May, and five motorcycles through i t s B M W Motorrad division.

I n t h e JanuaryMarch period, the BMW group had posted one of its best quarters in India with a 25.3 per cent jump in four-wheeler sales at 2,815 units. The BMW range of sedans and SUVs clocked sales of 2,636 units, while the MINI luxury compact car sold 179 units. The group’s two-wheeler sales grew by 41.1 per cent at 1,518 units during the period.

“ T h e s u p p l y i s currently little restricted. We could have sold much, much more because we are holding roughly around 2,500 orders for four-wheelers and over 1,500 orders for motorcycles. Literally, you can say it could have been doubled,” BMW Group India President Vikram Pawah told PTI. When asked about the prospects for the full year on the back of the Q1 performance, he said, “It is a dynamic situation this year with all the logistical challenges and the supply conditions across the world, that will determine how we do. We have got a very good order pipeline. If we are able to fulfil that, of course we are looking at a mega year.” He further said,”(Despite the challenges) we have s e e n g r ow t h in the first quarter of 25 per cent in four-wheelers and 41 per cent in twowheelers. I e x p e c t that kind of growth in any case.

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Tesla eyes India market as Elon Musk makes bold AI prediction

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In a recent X Spaces session with Nicolai Tangen, CEO of Norges Bank Investment Management, Tesla CEO Elon Musk emphasized the importance of electric vehicles (EVs) in India, stating that it’s a natural progression for every country to embrace them. Musk highlighted India’s status as the most populous country globally and stressed that electric cars should be accessible to Indian consumers like they are in other parts of the world.

Musk’s comments coincide with Tesla’s intensified efforts to expand its presence in the Indian market. Sources reveal that the state governments of Maharashtra and Gujarat have extended enticing land offers to Tesla for the establishment of a cutting-edge EV manufacturing plant. The proposed investment for this venture ranges between USD 2 billion to USD 3 billion, demonstrating Tesla’s commitment to both domestic and international markets.

This move aligns with India’s new EV policy, which aims to attract investments from global EV manufacturers and promote the adoption of advanced EV technology among Indian consumers. The policy emphasizes the importance of domestic value addition (DVA) and sets specific localization targets for manufacturers establishing operations in India.

To incentivize investment, the government has introduced measures such as customs duty exemptions and import quotas for EVs based on the level of investment made by manufacturers. These initiatives aim to position India as a preferred destination for EV manufacturing and contribute to the country’s Make in India initiative.

In anticipation of these developments, Tesla plans to dispatch a team of experts to explore suitable locations across India for the proposed manufacturing facility. Musk’s previous statement about visiting India in 2024 further underscores the company’s eagerness to enter the Indian market and collaborate with local stakeholders.

Tesla’s expansion into India represents a significant step forward in the global EV landscape and underscores the company’s commitment to sustainable transportation solutions. With India poised to become a key market for electric vehicles, Tesla’s entry is expected to drive innovation and accelerate the adoption of EVs in the country.

As the electric vehicle market continues to evolve, Tesla’s entry into India holds the potential to reshape the automotive industry and contribute to India’s transition towards a greener and more sustainable future.

Tesla’s entry into the Indian market not only signifies a pivotal moment for the country’s automotive industry but also presents an opportunity for Tesla to capitalize on India’s growing demand for electric vehicles. With the Indian government’s focus on promoting clean energy initiatives and reducing carbon emissions, Tesla’s electric vehicles align perfectly with India’s sustainable development goals.

Moreover, Tesla’s presence in India is expected to stimulate job creation and economic growth, particularly in the manufacturing sector. The establishment of a state-of-the-art manufacturing plant will not only provide employment opportunities for local residents but also foster the development of ancillary industries and supply chains.

In addition to manufacturing, Tesla’s entry into India is poised to catalyze advancements in EV infrastructure and technology. As Tesla vehicles become more accessible to Indian consumers, there will be a corresponding need for charging infrastructure and support services. This presents opportunities for collaboration with local businesses and government agencies to build a robust EV ecosystem.

Furthermore, Tesla’s entry into India could spur competition and innovation in the domestic automotive market, encouraging other manufacturers to invest in electric vehicle technology. This competition could lead to advancements in battery technology, vehicle performance, and affordability, ultimately benefiting consumers.

Overall, Tesla’s decision to establish a manufacturing presence in India reflects the country’s growing importance in the global automotive industry and underscores India’s potential as a key market for electric vehicles. As Tesla’s footprint expands across the country, its impact on India’s economy, environment, and technological landscape is expected to be profound.

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EU, India to jointly promote start-ups in battery recycling technologies for EVs

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As part of a broader effort to promote sustainable agenda, foster innovation and forge stronger economic relations between the European Union and India, the EU and India on Tuesday launched an expression of interest (EoI) for start-ups working in the area of battery recycling technologies for electric vehicles (EVs). The collaboration aims to enhance the cooperation between European and Indian small and medium-sized enterprises (SMEs) and startups in the clean and green technologies sector.

The intended exchange of knowledge and expertise will be instrumental in advancing the circularity of rare materials and transitioning towards carbon-neutrality in both India and the EU. This initiative takes place under the India-EU Trade & Technology Council (TTC) announced by Prime Minister Narendra Modi and Ursula von der Leyen, President of the European Commission, at their meeting in New Delhi on April 2022.

The initiative provides a platform for Indian and EU startups in the field of EV battery recycling technologies to pitch their innovative solutions and engage with Indian/European venture capitalists and solution adopters. Twelve startups, six each from India and the EU will be selected and get a pitching opportunity during the matchmaking event, scheduled during June 2024. Six finalists (three from the EU and three from India) will be selected following their pitching presentations and awarded the possibility to visit India and the EU, respectively.

The objective is to identify, support and promote startups dedicated to advancing the field of battery recycling technologies for EV and facilitate cooperation, potential trade avenues and, customer relations and exploring investment avenues for the shortlisted startups. This will, under India-EU TTC Working Group 2, offer Indian startups/SMEs an exclusive platform to demonstrate their expertise in battery recycling technologies. It provides a chance for Indian innovators to establish strategic alliances with their counterparts in the EU, accelerating the development of advanced battery recycling techniques focused on waste minimization and resource sustainability.

It will also harmonise efforts with EU innovators to jointly develop battery recycling solutions that drive industry expansion. The TTC was first announced by European Commission President, Ursula von der Leyen, and Modi in April 2022 and established on 6 February 2023, allowing both sides to tackle challenges at the nexus of trade, trusted technology, security and deepen cooperation in these fields. Establishing India-EU TTC is a key step towards a strengthened strategic partnership for the benefit of all people in India and the EU.

The TTC is a key forum to deepen the strategic partnership on trade and technology between the two partners. The TTC will help increase EU-India bilateral trade, which is at historical highs, with €120 billion worth of goods traded in 2022. In 2022, €17 billion of digital products and services were traded.

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Hyundai Motor & Kia Forge Strategic P’ship with Exide Energy for EV Battery Production in India

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Exide Industries surged 13% to hit a record high of INR 363.35 after South Korean auto giants. Hyundai Motor Company and Kia Corporation announced a partnership with Exide Energy Solutions Ltd, a subsidiary of Exide Industries for electric vehicle battery localisation in India.

Hyundai Motor Company (Hyundai Motor) and Kia Corporation (Kia) have inked a Memorandum of Understanding (MoU) with Exide Energy Solutions Ltd (Exide Energy), a prominent Indian battery firm, as a strategic collaboration in line with their electric vehicle (EV) expansion strategies. The signing event occurred at Hyundai Motor Group’s Namyang Research and Development Center in South Korea.

With the expansion of their EV plans for the Indian market, Hyundai Motor and Kia aim to localize their EV battery production, specifically focusing on lithium-iron-phosphate (LFP) cells.

As per a release, this strategic move will position them as the pioneers in applying domestically produced batteries in their upcoming EV models in the Indian market.

“India is a key market for vehicle electrification due in part to the government’s carbon neutrality goals, which makes securing cost competitiveness through localized battery production crucial,” said Heui Won Yang, President and Head of Hyundai Motor and Kia’s R&D Division. “Through this global partnership with Exide Energy Solutions Ltd., we will gain a competitive advantage by equipping Hyundai Motor and Kia’s future EV models in the Indian market with locally produced batteries.”

Kolkata-based Exide Industries Ltd, a leading lead-acid battery supplier in India, has over 75 years of experience and market leadership in lead-acid batteries.

Exide Energy Solutions Ltd is a wholly owned subsidiary company of Exide Industries Ltd, which was established in 2022 to foray into the business of manufacturing Lithium-Ion cells, modules, and packs incorporating a portfolio of multiple chemistries and form factors.

This strategic cooperation with Exide Energy marks the beginning of Hyundai Motor and Kia’s efforts to expand its exclusive battery development, production, supply, and partnerships in the Indian market. India is recognized as a highly promising automotive market worldwide, and the country is rapidly emerging as a critical player in the production and sales of EVs.

Realizing the strategic importance of the Indian market, Hyundai Motor and Kia are taking the lead in the Indian market by introducing their EV models to establish themselves as the frontrunners in the Indian automotive industry.

As per data released by the auto dealers association on Monday, for the entire 2023-24, retail auto sales in India achieved a notable 10 percent year-on-year growth, with the 2W, 3W, passenger vehicle, tractor, and commercial vehicle segments registering growth rates of 9 percent, 49 percent, 8.45 percent, 8 percent, and 5 percent respectively, setting record highs in the 3W, passenger vehicle, and tractor categories.

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Modest growth of 3.14 % in retail sales, PVs dip 6 %, 2W & 3Wsoar: FADA

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In FY24, auto retail sales saw sector-wide growth, leading to a 10 per cent yoy growth, with the 2W segment registering growth rate of 9 per cent, 3W segment growing by 49 per cent, PVs by 8.45 per cent, tractors by 8 per cent and commercial vehicles by 5 per cent respectively.

Despite election uncertainties, economic concerns and intense competition, the two wheeler and 3W segments showcased positive sentiment in March retail sales, especially in the premium and EV segments even as the Indian auto retail sector posted a modest growth of 3.14 per cent yoy in March 2024, with passenger vehicles sales showing a decline of 6 per cent, tractors showing a decline of 3 per cent and commercial vehicles facing a slump of 6 per cent respectively. However, in FY24, auto retail sales saw sector-wide growth, leading to a 10 per cent yoy growth, with the 2W segment registering growth rate of 9 per cent, 3W segment growing by 49 per cent, PVs by 8.45 per cent, tractors by 8 per cent and commercial vehicles by 5 per cent respectively, the Federation of Automobile Dealers Associations (FADA) said on Monday.

Heading into FY’25, FADA projects growth amidst a mix of optimism and challenges. The vehicle retail data of FADA for March’24 and FY’24 shows a surge in electric vehicle sales amidst expiration of the FAME 2 subsidy on 31 March with the 2W electric vehicles share jumping to 9.12 per cent for the first time. There was positive sentiment in 3W segment which demonstrated growth driven by the increasing acceptance of EVs, showing an optimistic trend despite potential challenges from election uncertainties and policy changes. Manish Raj Singhania, notes that the 2W segment demonstrated resilience and adaptability, with EV sales surging due to the expiration of the FAME 2 subsidy on March 31st. “This led to a notable boost in the 2W-EV market share to 9.12 per cent. “Positive market sentiment was supported by seasonal events, improved vehicle supply, and financial incentives. Despite facing market volatility and intense competition, the industry is strategically evolving, particularly in the premium and EV categories, signalling a bright future.” said Singhania.

In FY24, auto retail sales saw sector-wide growth, leading to a 10 per cent yoy growth, with the 2W segment registering growth rate of 9 per cent, 3W segment growing by 49 per cent, PVs by 8.45 per cent, tractors by 8 per cent and commercial vehicles by 5 per cent respectively. The 2W segment benefited by enhanced model availability, the introduction of new products and a positive market sentiment, alongside the burgeoning EV market and strategic premium segment launches. The growth in the 3W segment was driven by the introduction of cost-effective CNG fuel options, new EV models, expanding city landscapes, demand in last mile mobility in urban centres resulting in strong demand, marking a new industry benchmark. The PV segment’s growth was propelled by improved vehicle availability, a compelling model mix and significant contributions from the SUV segment, which now claims 50 per cent market share.

The auto is projecting an optimistic outlook in FY’25, focusing on new product launches, especially in EVs and leveraging economic growth, favourable government policies and expectation of good monsoon to fuel demand, despite facing challenges like competition and the need for strategic market engagement. The 3W segment showed an encouraging sales trend hitting an all-time high retail, driven by the growing acceptance of EVs. The introduction of EV autos and loaders positively impacted the retail environment. Although faced with election-related uncertainties and concerns over policy changes, such as free bus travel for women, the overall outlook for the sector remains upbeat, supported by the quality of vehicles and strong market demand.

The PV sector encountered challenges, with a m-o-m decrease of 2 per cent and a yoy fall of 6 per cent The downturn was influenced by heavy discounting and selective financing further affected by economic worries and the electoral climate. Nonetheless, positives such as improved vehicle availability, increased stock levels and new model launches did stimulate demand in certain areas. The impact of election activities and changes in festival dates also played a role in sales dynamics. The near-term outlook of FADA notes concern over decline in consumer sentiment among urban Indians and warns that the automotive sector faces a nuanced challenge. Given the continued inflationary trend without any relief in finance rates, these prospective buyers may continue to hesitate. Heading into FY’25, the auto industry is poised for growth amidst a mix of optimism and challenges.

The excitement around new product launches, particularly electric vehicles, sets a forward-looking tone. Manufacturers are gearing up with better supply chains and an array of models to meet diverse consumer demands. Economic growth, favourable government policies and an anticipated good monsoon are expected to fuel demand, especially in rural areas and the commercial vehicle sector, which is closely linked to infrastructure projects and economic activity.

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Maruti Suzuki dominates India, produces over 3 crore cars in record time

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Suzuki Motor Corporation announced on Wednesday that its subsidiary, Maruti Suzuki India, has achieved a significant milestone by crossing the cumulative production mark of 3 crore units in India. This achievement positions India as the second country, after Japan, where Suzuki has accomplished this feat. Notably, India reached this milestone even faster than Japan, accomplishing it in just 40 years and 4 months since commencing production in December 1983. The production journey in India commenced with the iconic Maruti 800 under the joint venture between Suzuki and the Government of India.

Presently, Maruti Suzuki India Ltd operates manufacturing facilities in Gurugram, Manesar (Haryana), and Hansalpur (Gujarat), contributing to the production and rollout of vehicles. The company highlighted that over 2.68 crore vehicles have been manufactured at its Haryana-based facilities, while over 32 lakh vehicles were produced at Suzuki Motor Gujarat, a wholly-owned subsidiary of MSIL. The Maruti 800, renowned for revolutionizing personal mobility in the country, emerged as a significant contributor to this milestone, with over 29 lakh units produced. Other top-performing models include Alto 800, Alto K10, Swift, Wagon R, Dzire, Omni, Baleno, Eeco, Brezza, and Ertiga.

The company reiterated its commitment to the ‘Make in India’ initiative emphasizing its role in strengthening operations to cater to both domestic and global markets. Currently, Maruti Suzuki India contributes nearly 40% to the total vehicle exports from India. MSIL’s Managing Director & CEO, Hisashi Takeuchi, expressed the company’s dedication to meet customer demand and aspirations amidst India’s emergence as the world’s third-largest passenger vehicle market.

Takeuchi outlined plans to invest further and increase annual production capacity to 4 million units by FY 2030-31. To achieve this target, the company plans to establish two new greenfield manufacturing plants, each with a capacity of 10 lakh units, in Kharkhoda, Haryana, and Gujarat. Additionally, the company aims to expand its model range from the current 18 to 28 by FY 2030-31.

In January, Maruti Suzuki India announced an investment of Rs 35,000 crore to establish its second plant in Gujarat, reinforcing its commitment to expanding manufacturing capabilities. Earlier in 2022, the company had disclosed plans to invest Rs 18,000 crore in a new manufacturing unit at Kharkhoda. These investments underscore the company’s long-term vision and commitment to further enhancing its manufacturing capabilities in India.

Maruti Suzuki India’s investment plans align with its strategic vision to bolster its manufacturing footprint and meet the evolving demands of the automotive market. By expanding production capacities and diversifying its product range, the company aims to maintain its leadership position in the Indian automotive industry.

The significant milestone of crossing 3 crore units in cumulative production underscores the success of Maruti Suzuki India’s longstanding presence and deep-rooted commitment to the Indian market. It reflects the company’s resilience, innovation, and unwavering dedication to providing high-quality vehicles to customers across the nation.

As Maruti Suzuki India continues to forge ahead on its growth trajectory, the achievement of this milestone serves as a testament to its enduring legacy and paves the way for future milestones in the journey towards automotive excellence. With its robust manufacturing capabilities, innovative offerings, and customer-centric approach, Maruti Suzuki India remains poised to shape the future of mobility in India and beyond.

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TVS Motors posts highest ever sales in FY24 at 41.9 lakh units in March

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Chennai based TVS Motor Company registered a 12 per cent yoy growth in wholesales in March 2024, increasing from 317,152 units in March 2023 to 354,592 units last month. During the fourth quarter of the financial year 2023-24, two-wheeler of the company registered a growth of 23 per cent with sales increasing from 8.40 lakh units in the fourth quarter of financial year 2022-23 to 10.32 lakh units while during the financial year 2023- 24, the company registered a growth of 14 per cent with total sales increasing from 36.82 lakh units in FY 2022- 23 to 41.91 lakh units.

In March 2024, total two-wheelers registered a growth of 12 per cent with sales increasing from 307,559 units in the month of March 2023 to 344,446 units in March 2024. Domestic two-wheeler registered growth of 8% with sales increasing from 240,780 units in March 2023 to 260,532 units in March 2024. The motorcycle segment registered a growth of 22 per cent with sales increasing from 141,250 units in March 2023 to 171,611 units in March 2024 and scooter a growth of 2 per cent with sales increasing from 128,817 units in March 2023 to 131,472 units in March 2024.

The company achieved the highest Vahan retails in March 2024. Electric vehicle dispatches are moderated for smooth transition into the new EV incentive scheme from the Government. The EV recorded sales of 15,250 units in March 2024 as against sales of 15,364 units in March 2023. Three-wheeler sales of the company registered a growth of 6 per cent with sales increasing from 9,593 units in March 2023 to 10,146 units in March 2024. On the international business front, the company’s total exports registered a growth of 23 per cent with sales increasing from 75,037 units in March 2023 to 91,972 units in March 2024.

Two-wheeler exports registered a growth of 26 per cent with sales increasing from 66,779 units in March 2023 to 83,914 units in March 2024. During the fourth quarter of the financial year 2023-24, three-wheeler of the company registered a growth of 4 per cent with sales increasing from 0.29 lakh units in the fourth quarter of financial year 2022-23 to 0.30 lakh units in the fourth quarter of the financial year 2023-24.

Total exports registered a growth of 40 per cent with sales increasing from 1.85 lakh units in the last quarter of FY 2022-23 to 2.50 lakh units in the current quarter. In FY24, two-wheeler sales of the company registered a growth of 15% with sales increasing from 35.12 Lakh units in FY 2022-23 to 40.45 Lakh units in FY 2023-24. Three-wheeler of the company registered 1.46 lakh units in FY 2023-24 as against 1.69 Lakh units in FY 2022-23. Total exports registered 10.13 lakh units sales in FY 2023-24 as against 10.68 lakh units in FY 2022-23.

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