As Sri Lanka is engulfed by its economic crisis, the new destination for Indian auto companies seems to be Bangladesh which is on the brink of a major economic boom, spurring auto majors to look eastwards.

India’s auto industry is going through a churn and has seen several top-level exits. Automakers have announced departures from their top-level management or a change in their global leadership teams.

American auto component maker Dana has said that India offers huge opportunities for the company in the EV space and it continues to invest in all its facilities depending upon the demand.

Some of the prominent automobile companies of India published the data related to their Aug sales for the current and last year.

Ashok Leyland is a flagship of the Hinduja Group. As per the reports it is seen that the company has enjoyed a growth rate of 353% in its revenue in Q1 FY’22.

This investment was collectively done by e2W, e4W, EV component makers, eCVs and last-mile delivery companies. Of the investments, 32% was by eCVs, 28% by e4W, 23% by e2W and 19% by EV component makers.

Ashok Leyland has showcased its future readiness by coming up with the details of its latest strategic initiative - Switch Mobility Ltd, UK (Switch Mobility).

Indian Oil, the nation's largest oil refiner, has teamed up with start-up Phinergy to develop the Israeli company's aluminium-air battery.

Switch Mobility Ltd announced its formal launch to secure a leading global position in net zero carbon buses and light commercial vehicles