Government’s productivity linked incentive (PLI) scheme for auto and component industry is set to change it in a big way through electric vehicles (EV), new technologies and new players in the market.

VE Commercial Vehicles Ltd, a joint venture between Volvo Group and Eicher Motors, are keen to take advantage of the productivity linked incentive (PLI) through expansion plans for electric vehicles.

It is estimated that over a period of five years, the PLI Scheme for automobile and auto components industry will lead to fresh investment of over Rs 42,500 crore, incremental production of over Rs 2.3 lakh crore

Dassault Systèmes announced that Cell Propulsion has chosen the 3DEXPERIENCE platform on cloud to enable collaboration across teams and bridge the gap between design and manufacturing seamlessly.

Ind-Ra has maintained an improving outlook for the auto ancillary sector and maintained a stable outlook on its rated portfolio for the second half of FY22. Credit metrics are likely to improve in FY22.

Ind-Ra revised auto volumes growth forecast to 12%-16% YoY from the initial forecast of 16%-20% YoY. The downward revision is due to a revision in the growth forecasts for 2Ws and PVs.

India Resurgence Fund ("IndiaRF"), promoted by Piramal Enterprises Limited and Bain Capital Credit has made an announcement related to an investment of $830 million in Setco Group.

At the Hydrogen Wave global online forum, Hyundai Motor Group has presented its vision to promote hydrogen energy and set up a global hydrogen society.

M&M will observe seven no-production days at its plants in September. The company added that there will be no material impact of the halt on the XUV7OO production ramp-up and launch plans.