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.

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.

Rating agency Icra revised downwards the revenue growth forecast for the auto components industry in the current fiscal to 15-17 percent.

The machine tool industry has a historic chance of growth due to the shift to electric vehicles and demand for localised manufacturing, as per the head of the biggest Taiwanese machine tool company.

A consortium led by South Korean electric carmaker Edison Motors Co has agreed to acquire debt-ridden SsangYong Motor Co Ltd for $254.65 million.

Speed breakers such as the third COVID-19 wave triggered via the spread of the Omicron variant in India as well as rising commodity prices might decelerate the automobile industry's recovery.

Gurpratap Boparai, the MD of the Indian subsidiary of the Volkswagen Group - Skoda Auto Volkswagen has resigned from his position as the head of the company.

TÜV SÜD laid the foundation stone for a new state-of-the-art facility for testing and certifying electrical, electronic products and medical devices to national and international standards in Bengaluru.

Carmaker Stellantis announced a strategy to embed AI-enabled software in 34 million vehicles across its 14 brands, hoping the tech upgrade will bring in $22.6 billion in annual revenue by 2030.