He had joined the organisation as its MD and CEO six and a half years earlier. During this period, Greaves Cotton made some major moves to transform itself from being largely a diesel engine manufacturer, to a provider of multi-technology energy solutions. Acquisition of Ampere Vehicles to enter the electric vehicle (EV) space would be most significant.
The companies are targeting manufacturing of electric motors this year initially in their Punjab-based plant. They will be in three different sizes One size is suitable for E2Ws and E3Ws, the second is for passenger e-trucks, and mid-range motors, and the third will be heavier motors for buses and trucks.
With Leapmotor now tipped to get the go-ahead for setting up shop in India, it joins SAIC of China which recently got into an alliance with the JSW Group to keep its growth momentum going. Leapmotor is 20% owned by Stellantis which has facilities for manufacturing Citroen and Jeep in India. BYD is the other Chinese auto brand which will need a reliable Indian partner to rev up its EV journey.
Passenger vehicle (PV) industry in India is considering multiple fuel technologies including electric vehicles (EVs), hybrids, compressed natural gas (CNG), flex-fuels, amongst others. However, research agency International Council on Clean Transportation (ICCT) is of the view that while it makes sense to not restrict ourselves to a single technology, having a level playing field and developing the ecosystem for each of them is not practically feasible. In one of its studies, it has found that in terms of lifecycle emissions for passenger cars, "CNG is slightly worse than diesel".
Last-mile and mid-mile transportation demand is expected to be a key driver. The OEM plans to start exporting vehicles from this month on a trial basis.
Multiple e2w industry officials told ETAuto that the Ministry of Heavy Industries (the administrative ministry for subsidy programme) has already absolved them of any wrongdoing, after an internal panel concluded its research into the entire subsidy saga. A spokesperson of the ministry, however denied giving any clean chit, saying “not cleared. It is a false report in news” when asked whether Hero, Okinawa and others had been cleared of all charges.
Tarun Garg, Chief Operating Officer, says the number of buyers under 30 years has doubled over the past four years. They want every conceivable feature installed in their cars and are now emerging as role models for other customers.
In this GlobalAutoIndustry.com Audio Interview "The Nearshoring Boom and Its Impact on Mexico’s Talent Landscape" Ron Hesse speaks with Jose Ruiz. Jose is President of IMD International Search Group and CEO of Alder Koten. Before his current roles, Jose was a partner in the global industrial practice of Heidrick & Struggles, a renowned executive search and leadership consulting firm. He worked in their Houston, Texas office and also served as a managing partner in their Monterrey, Mexico office. During this time, he gained valuable insights into executive search, talent acquisition, and leadership development. Prior to his career in executive search, Jose held leadership positions in engineering and operations management within manufacturing organizations in both the United States and Mexico. Notably, he served as the vice president and general manager at Holley Performance Products, a company owned by the private equity fund Kohlberg & Co LLC.
The company said that it has signed definitive documents on May 6, 2024 in the form of Equity and Compulsorily Convertible Preference Shares (CCPS) for which Kotak Investment Banking acted as its exclusive financial advisor.
The Month Gone By in Auto Industry is a monthly video series by ETAuto to stay updated on the latest developments in the Indian automotive sector. This series convenes industry experts from diverse backgrounds to offer their insights into various facets of the industry, including sales, production, exports, regulatory shifts, technological advancements, challenges, opportunities, and future projections. In this episode, industry experts talk about the demand for entry-level vehicles, Tesla’s entry in India, why EV sales dipped in April, and how 2Ws are expected to clock double digit growth. However, the industry needs to wait and watch for the impact of the new EV policy and policy changes post budget, they suggest.The Month Gone By In Automotive Industry- April 2024
The program is part of a recent Memorandum of Understanding (MOU) involving Honda’s IDTR as the training partner, the National Skill Development Corporation (NSDC) as the nodal agency, and Kedman Skilling as the mobilization partner.
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