How ESC serves as a building block for vehicle safety tech of the future
Electronic Stability Control (ESC) is an advanced safety system to control and maintain the lateral stability of a vehicle in case of an unusual situation. During the last 3 years, the penetration of ESC in passenger vehicles has grown from about 19% in 2020 to 41% in 2022. Industry experts suggest that in a way ESC is preparing the base for new developments to be applicable to the market, including ADAS. Car testing agency Global NCAP has also revised its protocols to make ESC as a standard fitment for cars to achieve a five-star safety rating. With increasing awareness of vehicle and road safety, several carmakers have equipped ESC as a standard offering. The government has made ESC a mandatory requirement on buses from April 1 this year, but it is yet to be mandated on the truck segment.
McLaren to go slow on complete shift to electric cars
McLaren, the well-known Formula One constructor, has launched its new product ‘Artura’ in India. It is an ICE-electric hybrid. But the company is still sceptical about going for a full-fledged electric car because of the weight factor. Light weight is McLaren’s USP. “When the technology advances into some more stages to make the batteries lighter, I think we will see what we're able to do,” Paul Harris, Managing Director - APAC and China, McLaren Automotive, told ETAuto in an exclusive interview. The company has no immediate plan to make an SUV either, he said. Edited excerpts:
With global scale aspiration, Uno Minda goes overseas to showcase tech prowess, prepares for expansion in India
India’s second largest auto component manufacturer tweaks strategy to pitch for more business with global OEMs present in India. Technology showcase goes abroad beyond the biennial Auto Expo in India. The company is making substantial investments to increase R & D facilities and proprietary technical capabilities. It is also planning to consolidate operations in a large complex with multiple plants, and is acquiring land for that.
HC stays Delhi govt's notice halting Rapido, Uber & other aggregators' services
In a big relief to cab aggregators like Uber and Rapido, the Delhi High Court on Friday stayed the public notice and show cause notice issued by the Delhi Transport Department against continuing their operations. The state government in Feb directed app-based bike taxi companies to stop their services immediately to avoid prosecution and penalties.
Ola Electric plans up to USD 1bn IPO at USD 10bn valuation
The Bengaluru headquartered company has roped-in Goldman Sachs, ICICI Securities, Axis Capital, and Kotak Securities as the lead managers for its initial public offering. An email sent to an Ola Electric spokesperson remained unanswered. Goldman Sachs, Axis Capital and Kotak Securities didn’t respond to the queries, while ICICI Securities’ spokesperson declined to comment
TVS Supply Chain Solutions' R Dinesh takes over as CII President
R Dinesh, Executive Vice Chairman of TVS Supply Chain Solutions has been elected the President of Confederation of Indian Industry (CII) for 2023-24. He takes over from Sanjiv Bajaj, Chairman and Managing Director, Bajaj Finserv Limited.
Simple Energy targets to launch 3 new 2Ws; hopeful of bringing e-car by 2025
Founded in 2019, Simple Energy has recently launched its maiden product in the market. It is also working on two more electric scooters and one electric motorcycle. The upcoming scooters will be priced lower than the Simple One. The premium motorcycle will come in the price range of INR 3 lakh to INR 5 lakh. Further, the race with rival Ola Electric is going strong as both the companies are working on their respective electric car models and want to introduce them by 2025.
Mahindra offloads entire stake in Mahindra CIE Automotive for INR 543 crore
The shares of Mahindra CIE Automotive were offloaded at 11 per cent discount from Tuesday's closing price of INR 452.8, the automaker said.
Will the latest government move kill India's nascent EV boom?
The government is slashing these subsidies and the makers of electric two-wheelers see it as a regressive step which will drag India's EV revolution, which is led by two-wheelers. The share of electric vehicles in total vehicle sales in India is currently around 5%. The government target for EV sales by 2030 is 30% of private cars, 70% for commercial vehicles and 80% for two- and three-wheelers.
Uber partners with various EV partners to accelerate transition towards sustainable mobility
Uber said it has teamed up with Zypp Electric for 10,000 EV two-wheelers in Delhi by 2024. The company also announced a partnership with SIDBI to unlock INR 1,000 crore in EV financing. Uber said it is also bringing its global partnership with BP to India through Jio-bp and has also tied up with GMR Green Energy for fast charging Uber EVs.
Domestic CV industry set to scale new peak this year; Ashok Leyland to hike capex
The country’s second largest commercial vehicle (CV) manufacturer lines up a capex plan of up to INR 750 crore in the current financial year. It’s also now open to pumping more investment into Switch Mobility, the company’s commercial EV subsidiary.