Indian tech company Ola has announced plans to invest Pound 100 million in the UK to open a research and development facility for a planned electric car, in a significant boost to the British automotive industry.

If the Federal Reserve decides to increase interest rates, as it suggested it would soon this week, experts say the US automotive industry could lose $22 billion in sales.

The domestic auto components industry may see a revenue growth of 15-17 % this fiscal and 10-12% in the next financial year on the back of recovery in automobile sales, according to a report.

Pune-headquartered Kinetic Green Energy & Power Solutions has teamed up with China-based electric vehicle giant Aima Technology Group to co-design and develop electric two-wheelers for India.

Reliance New Energy Solar Ltd (RNESL), subsidiary of Reliance Industries Ltd (Reliance), has signed agreements to acquire 100% shareholding in Faradion Limited (Faradion) for a value of Pound 100 million.

French auto giant Renault and Japanese carmakers Nissan Motor and Mitsubishi Motors Corp are soon going to work together to develop electric vehicles.

Tube Investments of India (TII), part of the Murugappa group, announced its plans to form a subsidiary to carry on the proposed electric three-wheeler venture and other EV-related projects.

Balu Forge Industries Ltd (BFIL) has recently acquired the Precision Machining unit of the Mercedes Benz Truck Factory in Mannheim, Germany.

The use of artificial intelligence (AI) in the manufacture of motor vehicle parts for all types of automotive vehicle is a major trend.