M&M to acquire tractor manufacturing, foundry firms in Turkey for Rs 735 cr

Source: Business Standard, Sept 20, 2017

New Delhi: Mahindra & Mahindra (M&M) on Wednesday said it has signed pacts with Turkey-based Erkunt group to acquire its tractor manufacturing and foundry businesses for about Rs 735 crore.

M&M said it will acquire Erkunt Traktor Sanayii for Rs 478 crore, a move which is aimed at entering the fourth largest tractor market in the world.

Besides, it has inked a share purchase agreement to acquire 80 per cent stake in Erkunt Sanayi AS for Rs 257 crore. The entity is engaged in production of engine blocks, cylinder heads and transmission cases. Read the rest of this entry »

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Nissan to Hyundai keen on India’s $203 million order for electric vehicles

download.jpgSource: Livemint.com, Sept 19, 2017

New Delhi: Renault SA, Hyundai Motor Co. and Nissan Motor Co. are among companies interested in supplying India 10,000 electric cars as part of the country’s efforts to reduce emissions and curb fuel imports, a government official said.

The deadline for bids has been extended by four days to 22 September to help allow overseas companies ascertain rules for imports, Saurabh Kumar, managing director of Energy Efficiency Services Ltd, said in a phone interview Monday in New Delhi. EESL, the government agency that runs India’s energy efficiency programs, issued the tender for plug-in vehicles that would replace government cars operating in and around the capital city.

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Auto industry gears up for government’s EV push

Source: The Hindu Business Line, Sept 10, 2017

New Delhi: India’s aggressive push to electrify all new vehicles by 2030 is compelling auto part manufacturers and carmakers to draw up early plans for electrification, company executives said. A new auto policy is in the works and will include a roadmap for electric vehicles, a government official said, adding that this is likely to be made public before year-end.

Engine-maker Cummins India is investing in research on electric mobility solutions for India, while Hyundai Motor Co has begun talks with some of its suppliers for components for electric cars, company executives said. Ashok Leyland, which launched an electric bus last year, has partnered with Indian start-up SUN Mobility to develop battery-swapping technology for cars, buses and trucks. “This is going to be a major challenge but it is one we have to embrace and not duck,” Anant Talaulicar, managing director, Cummins India said. Read the rest of this entry »

How government plans to make India an electric vehicle nation

Source: The Economic Times, Sept 07, 2017

It’s been touted as the LED moment of transport — the vision of an all-electric passenger car market in India by 2030, greening of the system being the link.

The reference is to what the Vienna Energy Forum famously referred to as the “largest energy transformation project in the world” — the task of replacing millions of street and household lights with energy-saving and longlasting LEDs, in the process, taking electricity into many villages for the first time.

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Even as a clutch of automakers — and a few non-car companies, too — gear up to create an ecosystem for electric vehicles (EVs), there’s something quietly underway on the government front. Come December, state-owned Energy Efficiency Services (EESL) will float tenders for 25,000 electric rickshaws and a same number of electric autos for phase I of sale to aggregators in public transport. That’s step one of the LED moment.
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MRF takes India to luxury tyre market

images (4).jpgSource: The Economic Times, Sept 06, 2017

CHENNAI: Tyre major MRF Limited has recently released the Perfinza range of luxury and premium tyres, making this the first tyre made by any Indian company to be approved by a leading global luxury car manufacturer. Perfinza will have cricketing star AB de Villiers as its global brand ambassador. Speaking at the launch, Koshy K Varghese, executive vice president of marketing, MRF, said: “Our R&D engineers had one word in mind when they engineered this tyre — perfection.

Perfinza by MRF is a tyre that delivers the perfect drive every time. The communication uses AB de Villiers, another outstanding example of perfection on the field and off it to showcase how perfection in a tyre results in an exceptional driving experience.” MRF said its entry into the luxury segment was made possible by continued investments in R&D and its nine manufacturing facilities.

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Carmakers ride into festive season with double-digit growth

images (3)Source: Business Standard, Sept 04, 2017

New Delhi:With the festive season round the corner, domestic sales of passenger vehicles — cars, utility vehicles and vans — surged 14 per cent in August as dealers built inventory. The industry is estimated to have sold almost 290,000 vehicles last month, with double-digit growth from market leader Maruti Suzuki, besides Honda and Tata Motors. Hyundai, the second-biggest player, saw volume grow at nine per cent. July sales had grown 15 per cent.

Maruti, which now commands a 50 per cent share in the domestic market, sold 151,270 units to dealers last month, against 119,906 units in August last year. Sales of compact segment vehicles (Swift, Baleno, etc) rose 62.4 per cent to 74,012 units, while utility vehicle (Brezza, Ertiga, etc) clocked growth of 27.6 per cent. The mini (Alto, WagonR) segment, however, remained flat at 35,428 vehicles. The company’s stock price gained 1.43 per cent to close at Rs 7,812 on the BSE on Friday.

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Tata Motors to fuel business with Rs 4,000-crore investment

images.jpgSource: Business Standard, Aug 22, 2017

Mumbai: Saddled with losses in its domestic commercial and passenger vehicle business, home-grown auto major Tata Motors on Monday reiterated its turnaround plan focused on cost reduction, new products, and bringing in efficiencies in the supply chain.

The company said it would invest Rs 4,000 crore this year. Of that Rs 2,500 crore will go to the passenger vehicle business.Calling the commercial vehicle (CV) its ‘backbone’, the company said it would invest Rs 1,500 crore in the business over the next few years.

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