According to an analysis done by Kotak Institutional Equities, the PLI scheme for autos provides incentives in the range of 13-18% of sales value to OEMs for manufacturing EVs in India.

Nikola will build and assemble the Bosch fuel-cell power modules at its manufacturing facility in Coolidge, Arizona. The companies will work together and source the remaining components.

This year auto dealers expect the semiconductor shortage to result in sales dropping by about 30%. SIAM has asked the MEA to reach out to chipmakers to prioritise Indian automakers when plants reopen.

Technology company Continental has appointed Latha Chembrakalam as the new head of their in-house R&D center Technical Center India (TCI).

The lithium battery packs and CATL cells will be used in the soon-to-be-launched cargo 3-wheeler light commercial vehicle. Grevol has successfully conducted pilot runs with major e-comm players.

ZF plans to make India a region with decision-making power to drive the business and as a manufacturing and service hub. The branding of ZF acquired Wabco will switch to ZF in January 2022.

Beyond Garage, a leading cars and bike repairing and servicing provider, has been formed after merging Bangalore-based vehicle service company Doers and Hyderabad-based spare parts supplier Auto Parts Hub.

Bosch has witnessed a decline in CAPEX due to the 26% decline in net profit to Rs 4.8 billion for FY21 as against Rs 6.49 billion recorded in FY20. Pawan Goenka joins Bosch as an independent director

Adhering to the Maharashtra government’s directives intending to contain the COVID crisis in the state, Bosch announced the shutdown of its Nashik plant till the end of next week.