Signalling a major change in stance, carmakers are advancing plans to make electric cars in India by giving them preference over hybrid versions. Automakers such as Hyundai, Tata Motors and Mahindra & Mahindra are leading the race to roll out electric cars soon.

Kia Motors plans to invest $2 billion (Rs 12,750 crore) in India over the next two years to set up a manufacturing plant and develop a supplier base, a top executive said. The affiliate of South Korea’s Hyundai Motor expects its investment to create 3,000-4,000 jobs here in the next five years.

South Korean auto firm Kia Motors Co. will hold road shows in August and September to identify prospective dealer partners before it starts retailing cars in 2019. “Dealers attending each event in the roadshow calendar will also learn about Kia’s business strategy, etc.

South Korean auto firm Kia Motors Co. will hold road shows in August and September to identify prospective dealer partners before the company launches its India operations in the second half of 2019.

India’s most favourite carmaker has achieved yet another feat. Maruti Suzuki is now not just the leader in the car market — it leads the utility vehicles and vans segments as well. One company leading all the key segments of an automobile market is a rarity, with the only exception among similar-sized markets being Hyundai Motor in South Korea.

General Motors Co will slash headcount in its international headquarters in Singapore as part of its efforts to reduce exposure to unprofitable and unpromising markets.

Auto components major Motherson Sumi Systems Ltd (MSSL) has lined up capital expenditure of Rs 2,000 crore for the current fiscal, mainly on the upcoming nine plants in five countries including India.

Automakers are expected to invest $8-10 billion (Rs 51,600-64,500 crore) in India to set up factories and expand production in the country.

India’s leading aftermarket exhibition, ACMA Automechanika New Delhi, successfully reinforced its position as a reliable sourcing and networking platform for Indian auto-components and the aftermarket. The exhibition, which successfully concluded in March, hosted 552 exhibiting companies from 17 countries, showcasing the latest trends in aftermarket and facilitated serious business discussions over the four days.