The operations of domestic automobile manufacturers may get further impacted if the lockdown in several cities of China, including Shanghai, to check Covid-19 infections gets prolonged.

After two-, three- and four-wheelers, electrification of the mass transit segment is now taking off. Work on two projects, of nearly Rs 50 billion in greenfield electric bus-manufacturing projects, has started in Pune.

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.

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.

Tube Investments of India (TII), part of the Murugappa group, announced its plans to form a subsidiary to carry on the proposed electric three-wheeler venture and other EV-related projects.

German auto component company ZF announced the start of its new commercial vehicle (CV) solutions division.

MG Motor India has announced the commencement of exports from its state-of-the-art manufacturing facility in Halol, Gujarat.

Oppo has filed trademark applications for class 12, which includes electric vehicles, automobiles, motorcycles, and other forms of transportation.

With the ripple down effect of declining automobile sales, the forging industry is facing the heat with a sharp decline in demand.