Automobiles

On boosting EV manufacturing capacity, it said they are establishing a fourth production line in its wholly-owned subsidiary Suzuki Motor Gujarat (SMG) by investing Rs 3,200 crore.

The management, without confirming a Duster relaunch, said that they would launch a B+ SUV and a C SUV. The fifth launch will be an electric vehicle.

“The momentum generated in 2023 sets a solid foundation for a future where we will continue to lead the way in the commercial vehicle industry,” he said.

Bajaj Auto CEO Rajiv Bajaj had recently said that this buyback would be larger in size given higher cash on books. “We will close this year with Rs 20,000 crore cash.

Bajaj Auto shares on Wednesday hit an all-time high at Rs 7,059.75 on the BSE. The shares closed at Rs 6,989.40, up 5%.

This assumption by the Korean carmaker comes after SUV share in its total sales grew from 53% in 2022 to 60% in 2023.

Maruti Suzuki (MSIL) sold 17.08 lakh PVs (domestic) in 2023, up 8.5% YoY, while Hyundai’s annual domestic sales crossed 6 lakh mark, up 9% for the first time in 2023.

Suzuki Motorcycle India Pvt Ltd (SMIPL), a subsidiary of Suzuki Motor Corporation, had sold 63,912 vehicles in December, as per a company statement.

“We believe this collaboration will elevate our brand presence and create a profound connection with the energetic and forward-thinking audience we aim to reach.

According to Vahan data, total EV sales in the first eleven months of CY23 stood at 1,387,114 units, a jump of 50% year-on-year (YoY).

Gadkari said the government has also permitted retrofitting of existing polluting vehicles into hybrid and fully EVs.

Ashok Leyland will commence the delivery of these buses in April 2024 and expect to complete by July 2024.

ACMA said the industry intends to invest about $7 billion over the next five years.

A better solution, experts say, would be to require Tesla to use cameras to monitor drivers’ eyes to make sure they’re watching the road.

TVS already has a presence in South-East Asia and in African and Latin American markets. Exports contribute 25% of its business and is currently exporting to more than 80 countries.

Kia currently has a production capacity of 3.4 lakh units per annum at its Andhra Pradesh-based manufacturing plant. It also has 429 sales outlets in the country.

Jairaj, currently Deputy Managing Director, Stellantis India and Head Jeep India, will succeed Roland Bouchara, who will be assigned to another function in Europe.

They said that from 2059 onwards, China will be able to employ recycling to meet its demand for primary lithium for electric vehicles, obtained through mining.

In October, the government further extended a curb on the export of all kinds of Sugar (raw sugar, white sugar, refined sugar, and organic sugar) beyond October 31, 2023.

While passenger vehicle (PV) sales rose 17.19% year-on-year to cross the 3.6 lakh mark in November, overtaking sales of 3.57 lakh cars achieved in October 2022