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News Updates

Budget Focuses on Creating Infra in Auto Sector for Rise in Jobs
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.

Stellantis to acquire majority stake in JV with GAC, China
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%.

OLA to set up R&D facility for electric car in UK
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.

US auto industry may face huge loss if interest rate increases
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.

Budget 2022 - Govt increases capex by 35% to Rs 7.50 trn in 2022-23
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.

India’s auto component industries may grow by 15-17%: Brikwork Ratings
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.

Kinetic Green Energy and China’s AIMA Tech tie up to produce EVs
News
  Jan 28, 2022

Kinetic Green Energy and China’s AIMA Tech tie up to produce EVs

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 eyes sodium ion battery market with Faradion buy
News
  Jan 28, 2022

Reliance eyes sodium ion battery market with Faradion buy

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.

Renault, Nissan, Mitsubishi form joint venture for EVs
News
  Jan 28, 2022

Renault, Nissan, Mitsubishi form joint venture for EVs

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

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