Auto News
Altigreen focused on profitability while pursuing fresh funding round, IPO at least three years away
In an interview with ETAuto's Contributing Editor Sindhu Bhattacharya, Amitabh Saran, Founder & CEO speaks about Altigreen’s continued focus on profitability, cost advantage of electric versus ICE and much-needed policy initiatives.
Govt charged up for battery parts sops
The Ministry of Heavy Industries is in the process of identifying locally-produced battery components that need financial support, ET has learnt. This could be on the lines of subsidies offered under current production-linked incentives schemes for certain industries.
Mercedes-Benz India announces 2025 expansion: 8 new models, including EQS 450 and electric G-Wagon
In 2024, Mercedes Benz India sold 19,565 units in the country, marking a growth of 12% over 17,408 units in 2023. In 2025, it will launch 8 models. This includes EQS SUV 580, electric G-Wagon and AMG CLE 53 Coupe. The luxury carmaker is also targeting to expand its network with 20 new touchpoints in 2025, 18 of which will be established during the January-March period.
Auto component companies rev up to drive to every corner of the world
Global disruption in the industry ecosystem is the tailwind for India’s auto manufacturers to go global like never before.
Zypp Electric eyeing USD 25-30 mn more as part of ongoing round
Zypp Electric is in advanced talks to raise USD 25-30 million from investors led by Nuvama Wealth. Tribe Capital is participating in the ongoing funding round. Zypp plans to increase its fleet to over 100,000 vehicles and expand operations to 15 cities next year. Its revenue rose to INR 293 crore in FY24 although losses also increased.
M&M looks to boost its globalisation strategy with 'electric origin' BEVs
“After we have established ourselves here, we look at going to some right hand drive (RHD) markets around the world-- maybe UK, and learn from the experience,” Rajesh Jejurikar, Executive Director and CEO (Auto and Farm Sector) at Mahindra, said. The company will also consider entering the left hand drive (LHD) markets “over a period of time”, but everything will be in a phased manner. Initial focus remains on gaining a sizable presence in the domestic market.
Tyre makers investing INR 100 cr in NE, Bengal for enhancing rubber production, says association
Tyre manufacturers are investing INR 100 crore in the Northeast and West Bengal for training growers and enhancing natural rubber production infrastructure. This initiative, part of Project INROAD, aims to improve both the quantity and quality of rubber produced, supported by major manufacturers like Apollo, CEAT, JK and MRF, and implemented by the Rubber Board of India.
Mahindra sets monthly target of 5,000 units for BE 6, XEV 9e; unveils top-spec pricing
Mahindra targets to sell 5,000 units of both new models together in the initial period. Comparatively, in December 2024, Mahindra sold a total of 41,424 units with the Scorpio ruling the charts for the company and clocking 12,195 units in December 2024.
For Suzuki, producing 4 million cars in India will mark turning point
The company has stated in its Integrated Report 2024 that adding capacities in India will be a challenging task where it needs to be on top of the game in areas like human capital development, logistics and safeguarding the environment. If things go according to plan, the learnings in India can even be extended to Africa.