News Updates

Taiwan-based tech company Foxconn, which has announced its entry into the electric vehicle space, is looking forward to come to India to manufacture its EVs.

Toyota Motor has announced that it will invest about $3.4 billion to develop batteries for electric vehicles and EV production in United States till the end of the decade

Ford said that it would invest up to $316 million to build electric car components at its Halewood factory in northern England.

Major carmakers like Volkswagen, Daimler and Stellantis have been racing to secure battery cell supplies in Europe, but may face a bigger challenge finding enough battery raw materials as they plan to manufacture electric vehicles.

Recently, the Tata Motors and TPG Rise Climate has entered into a binding agreement, wherein the latter along with its co-investor ADQ will invest in its newly incorporated subsidiary of Tata Motors.

Ratings agency ICRA revised downwards the growth forecast for the auto components industry by 300 basis points for the ongoing fiscal year citing the impact of semiconductor shortage.

A reduction in GST rates on auto LPG and subsidies on conversion kits can spur the use of LPG as a fuel in automobiles, according to Indian Auto LPG Coalition (IAC).

Textile major Raymond has said its board has approved plans to consolidate the tools and hardware and auto components businesses into engineering business.

Textile major Raymond has said its board has approved plans to consolidate the tools and hardware and auto components businesses into engineering business.