News Feb 23, 2022 Tesla should buy $ 500 mn Indian auto parts for tax cut Tesla CEO Elon Musk has previously urged the Government of India to bring the taxes down. The Government is now asking Tesla to source auto components worth at least $500 million from India.
News Feb 23, 2022 Indian goods to get duty free access to UAE market post FTA Indian goods worth as much as $26 billion, which are currently taxed at 5% by the UAE, will be allowed at zero duty once the free trade agreement (FTA) with Abu Dhabi comes into force by May.
News Feb 04, 2022 Graphite may have big role in EV industry expansion The next commodity supercycle could start and end with Chinese graphite, the single most important battery material right now in terms of supply and demand.
News Feb 04, 2022 Budget Focuses on Creating Infra in Auto Sector for Rise in Jobs The domestic forging industry said the Union Budget 2022-23 is focusing on investing more in infrastructure and renewable energy, that will indirectly support employment generation.
News Feb 02, 2022 Stellantis to acquire majority stake in JV with GAC, China Stellantis N.V. has announced the plan to increase its shareholding in GAC-Stellantis from 50% to 75%.
News Feb 02, 2022 OLA to set up R&D facility for electric car in UK 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.
News Feb 02, 2022 US auto industry may face huge loss if interest rate increases 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.
News Feb 01, 2022 Budget 2022 - Govt increases capex by 35% to Rs 7.50 trn in 2022-23 In defence sector, 68% of the capital procurement budget will be earmarked for domestic industry in 2022-23, up from 58% in 2021-22. Defence R&D will be opened up for industry, start-ups and academia with 25% of defence R&D budget earmarked.
News Jan 28, 2022 India’s auto component industries may grow by 15-17%: Brikwork Ratings 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.