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.

Pune-headquartered Kinetic Green Energy & Power Solutions has teamed up with China-based electric vehicle giant Aima Technology Group to co-design and develop electric two-wheelers for India.

French auto giant Renault and Japanese carmakers Nissan Motor and Mitsubishi Motors Corp are soon going to work together to develop electric vehicles.

The use of artificial intelligence (AI) in the manufacture of motor vehicle parts for all types of automotive vehicle is a major trend.

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

Maharashtra has extended the valid term for early-bird benefits on selected variants of electric vehicles (EVs) till March 31, 2021.

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.

Ratings agency ICRA revised downwards the growth forecast for the auto components industry by 300 basis points for the ongoing fiscal year citing the impact of semiconductor shortage.

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.