According to sources, the tax department has accessed the entire passenger data captured on the Digi Yatra app, and the same is being reconciled with tax filings to check for discrepancies in the declared income. The tax department would start issuing notices in 2025 based on the Digi Yatra data, said sources.
Digi Yatra app is a civil aviation ministry led initiative to make air traveller’s journey seamless and paperless. It uses facial recognition technology, and collects passengers ID, biometrics, and details of air tickets to give easy access at airports. It is, however, not mandatory for fliers to download or use the app.
According to sources, the tax department will first go after those who don’t file tax returns, and then target those who under-report their income to avoid paying taxes.
Digi Yatra data holds immense potential as an alternative to the government’s earlier attempts to gather travel data through loyalty pro-grammes of air travel companies, a move constrained by privacy concerns.
Source : PTI | New Delhi: Hero MotoCorp on Friday said it has expanded its collaboration with iconic American brand Harley-Davidson to introduce new products. As part of the deal, the partners will introduce new trims of Harley-Davidson X440 and develop an all-new bike.
The companies have inked a pact for extension of existing collaboration to expand the X440 motorcycle model into new variants and develop a new motorcycle, the country’s largest two-wheeler maker said in a regulatory filing. Continue reading “Hero MotoCorp expands partnership with Harley-Davidson”
(Reuters) – U.S. tech investor Cathie Wood is calling on Donald Trump’s incoming administration to boost economic growth and policy certainty by backdating promised corporate and personal tax cuts to Jan. 1, 2025, she told Reuters.
SHANGHAI/BEIJING, (Reuters) – Jinjiang Group, a contractor for Chinese electric vehicle maker BYD said on Thursday Brazilian authorities’ portrayal of their employees as “enslaved” was inconsistent with the facts and that there were translation misunderstandings.
Brazilian labor authorities had on Wednesday said they found 163 Chinese nationals working in “slavery-like conditions” at a construction site for a BYD-owned factory in Brazil’s Bahia state. BYD said then that it had cut ties with the firm that hired the workers and was working with authorities. Continue reading “BYD contractor denies ‘slavery-like conditions’ claims by Brazilian authorities”
•The Longest Serving Leader of any Global Automobile Company in the World.
•Created Fortunes for Suzuki Motor Corporation by clear vision and outstanding strategic execution & action.
•Laid the foundation of Maruti Udyog in early 1980s in India, now Maruti Suzuki India which is the No 1 Car Maker in India and one of the highest business and profit Contributor to it’s global HQ at Japan.
In around month’s time Osamu Suzuki, the Former Chairman of Suzuki Motor Corporation (SMC) would have turned 95! He was born on Jan 30, 1930
Source : PTI | In a move towards launching green hydrogen mobility project in Odisha, a tripartite agreement was signed between three state-owned agencies, an official said on Tuesday. The agreement was signed on Monday by Capital Region Urban Transport (CRUT) managing director Tirumala Nayak, Grid Corporation of Odisha Limited (GRIDCO) managing director Trilochan Panda and NTPC CGM M R Panda in the presence of Odisha Deputy Chief Minister K V Singhdeo and Housing and Urban Development minister K C Mohapatra, the official said.
BEIJING, (Reuters) – Chinese battery manufacturer CATL said on Thursday it plans to seek a listing in Hong Kong, a Shenzhen Stock Exchange filing showed.
NEW YORK, (Reuters Breakingviews) – Rocket maker SpaceX’s internal $350 billion valuation makes it among the globe’s most valuable private startups. That’s still a fraction of the worth of boss Elon Musk’s electric-car company Tesla which sports a $1 trillion market value. In 2025, though, it will become clear that terrestrial ambitions are no match for the stars.
SpaceX encapsulates Musk’s philosophy: do something different, then cut costs to drive out the competition. Sure, Tesla’s 2006 “master plan, similarly pitched producing a premium car and then using the profits to drive down-market. But SpaceX’s growth is more explosive – and harder to catch.
The key is Starlink, SpaceX’s broadband satellite network. Its success is twofold. First, by building bigger rockets that can be reused, costs to launch tumble precipitously. Second, Starlink’s superior performance versus rivals ensures a revenue stream that justifies more launches. The company has around 7,000 satellites whizzing around Earth and is adding about 60 a week. From 1965 to the early 2010s, there was essentially no growth in manmade objects launched into space. Starlink turned that trajectory parabolic.
The number of objects launched into space has increased about ten-fold in the last decade.
This is an emergent monopoly. SpaceX accounted for over 85% of all orbital payloads in 2024’s first quarter, estimates BryceTech. This rapidly scaling vertical integration – encompassing rockets, satellites and user terminals – puts would-be rivals like Amazon on the back foot.
Tesla faces fierce competition from upstarts like China’s BYD and cheaper, good-enough fossil-fuel cars. SpaceX enjoys much clearer skies. Starlink only has 5 million users but is available in 114 countries. It’s adding cellphone service and has plenty of capacity. Musk’s connections to President-elect Donald Trump may help it land previously unavailable subsidies, such as $42 billion for rural U.S. broadband.
That leaves plenty of upside from the $6.6 billion, of revenue that consultancy Quilty Space predicts for Starlink in 2024. EBITDA is projected to hit $3.8 billion, an astonishing 58% margin. TMF Associates foresees $24 billion of revenue by 2030. At today’s estimated profitability, that’s $18 billion of EBITDA. Given high fixed costs, more users could improve the bottom line.
So what is Starlink worth? Tesla trades at 68 times EBITDA, despite sputtering growth. Assume Starlink’s growth continues on its forecast path, put it on Tesla’s multiple, and the communications business would, at the end of the decade, be valued at well over $1 trillion. That’s not even counting SpaceX’s other valuable businesses like rockets.
Ultimately, it’s not clear why SpaceX is worth so little, Tesla so much, or both. As self-driving gets a reality check while the one-man space race continues, it will become clear that the stars are Musk’s real frontier.
SHANGHAI/BEIJING, (Reuters) – Jinjiang Group, a contractor for Chinese electric vehicle maker BYD said on Thursday Brazilian authorities’ portrayal of their employees as “enslaved” was inconsistent with the facts and that there were translation misunderstandings.
Brazilian labor authorities had on Wednesday said they found 163 Chinese nationals working in “slavery-like conditions” at a construction site for a BYD-owned factory in Brazil’s Bahia state. BYD said then that it had cut ties with the firm that hired the workers and was working with authorities. Continue reading “BYD contractor denies ‘slavery-like conditions’ claims by Brazilian authorities”
Source : PTI | Traversing from being just vehicle manufacturers to mobility solutions providers amid a raging debate over which eco-friendly technology must be incentivised, the Indian automobile industry is driving in the new year under the shadow of a slowdown in sales with the post-pandemic pent-up demand in distant memory. The shift in the auto industry – where advanced technologies like autonomous driving, vehicle intelligence, connected features and electrification are quickly gaining traction -will be reflected in the upcoming Bharat Mobility Global Expo in which India’s flagship Auto Expo has been clubbed to be held from January 17-22, 2025 in Delhi-NCR. Continue reading “What does the future hold for India’s automobile sector in 2025?”
DETROIT, (Reuters) – U.S. automakers Ford Motor and General Motors\ will donate $1 million each, along with vehicles, to U.S. President-elect Donald Trump’s January inauguration, company spokespersons said on Monday.
(Reuters) – Stellantis has reversed its decision to lay off about 1,100 employees at an Ohio Jeep plant less than three weeks after the abrupt resignation of Chief Executive Carlos Tavares, the Franco-Italian automaker said late on Saturday.
The company has decided not to put any employees on indefinite layoff from Jan. 5 due to a previously announced shift reduction and will instead extend a worker adjustment and retraining notification notice, a company spokesperson said in an emailed statement. Continue reading “Stellantis reverses Ohio layoffs weeks after CEO’s abrupt departure”
(Reuters) – Lithium Americas said on Monday it has closed its joint venture with U.S. automaker General Motors to develop the Thacker Pass lithium mine in Nevada.
TOKYO, (Reuters) – Toyota Motor has decided to build a new factory to produce electric vehicles in China, the Nikkei business daily reported on Monday.
TOKYO, (Reuters) – Former Nissan chief executive Carlos Ghosn cast doubt on the success of a potential merger between Honda and Nissan, saying the latter’s plans “do not make sense” at a press conference on Monday.
Deal would create No. 3 global auto group after Toyota, Volkswagen
This is not ‘rescue of Nissan’, Honda CEO Mibe says
Mitsubishi Motors to judge whether to join by end-January
Honda, Nissan will list holding company shares in Aug 2026
TOKYO, (Reuters) – Honda and Nissan are in talks to merge by 2026, they said on Monday, a historic pivot for Japan’s auto industry that underlines the threat Chinese EV makers now pose to the world’s long-dominant legacy car makers. Continue reading “Honda, Nissan aim to merge by 2026 in historic pivot”
India is set to kick off a national mission for the critical and strategic minerals sector as the country looks to propel its journey towards green energy transition and boost electric vehicle manufacturing capacity. While much of 2024 was spent in doing ground work, the next is poised to be a landmark year for India’s mineral and mining sector. As the world races to secure vital minerals for renewable energy and emerging technologies, India gears up to take the centre stage with the launch of its much-touted Critical Mineral Mission in 2025.
Source : PTI | Majority of car buyers in India still prefer making their purchase decisions through physical dealerships, with digital platforms increasingly complementing the overall acquisition process, according to a survey. The findings of a global study conducted by Urban Science involving over 9,000 people across the US, Germany, UK, China, India, and Mexico, revealed that most Indian buyers still predominantly prefer purchasing vehicles through a traditional dealership in person, with trust and relationship-building playing pivotal roles.
BERLIN, (Reuters) – A reduction in managers’ bonuses at Volkswagen will lead to a 10% pay cut for the next two years, the Sueddeutsche Zeitung newspaper reported on Sunday, after the German carmaker struck a deal with unions to axe jobs and scale back production.
(Reuters) – Unifor said on Sunday that its members at Canadian National Railway have ratified four-year collective agreement, averting a potential strike action.
Unifor, which represents more than 3,000 members at the railroad’s Council 4000 and Local 100 committees, said the agreement includes improvements to wages and benefits as well as job protections for members working in CN terminals and headquarters across Canada. Continue reading “Unifor members ratify new agreement with Canadian National Railway”
(Reuters) – Stellantis has reversed its decision to lay off about 1,100 employees at an Ohio Jeep plant less than three weeks after the abrupt resignation of Chief Executive Carlos Tavares, the Franco-Italian automaker said late on Saturday.
The company has decided not to put any employees on indefinite layoff from Jan. 5 due to a previously announced shift reduction and will instead extend a worker adjustment and retraining notification notice, a company spokesperson said in an emailed statement. Continue reading “Stellantis reverses Ohio layoffs weeks after CEO’s abrupt departure”
TOKYO, (Reuters) – Former Nissan chief executive Carlos Ghosn cast doubt on the success of a potential merger between Honda and Nissan, saying the latter’s plans “do not make sense” at a press conference on Monday.
Maruti Suzuki to introduce its first eBorn – e VITARA, in India at Bharat Mobility Global Expo 2025.
The e Vitara is built on the HEARTECT-e platform specially designed for Battery Electric Vehicles (BEV).
Equipped with state-of-the-art technology and advanced safety features – e VITARA to offer a superior driving experience.
New Delhi, Maruti Suzuki India Limited (MSIL), the country’s largest passenger vehicle manufacturer, is poised to transform electric mobility in India. The company will showcase its production ready eBorn SUV, the e VITARA at the Bharat Mobility Global Expo 2025. The e VITARA is a global model manufactured in India for the world, recently unveiled by Suzuki Motor Corporation at Milan, Italy. Continue reading “Maruti Suzuki teases its first eBorn Electric SUV; Signals robust EV ecosystem for seamless ownership experience”
NEW YORK, (Reuters) – Swedish electric-vehicle battery maker Northvolt said on Friday it expects to line up additional bankruptcy financing by late January after engaging with over 100 lenders and potential investors.
Northvolt entered bankruptcy on Nov. 21 with a $100-million bankruptcy loan from Swedish truck maker Scania, a shareholder and its biggest customer. But that loan was not intended to carry Northvolt through its entire bankruptcy restructuring, and the company has continued to evaluate proposals for additional financing from strategic and financial investors. Continue reading “Battery maker Northvolt makes progress toward longer-term bankruptcy financing”
FRANKFURT, (Reuters) – Here are the main points of a deal struck on Friday between Volkswagen and unions on the carmaker’s German sites and jobs. The agreement followed more than 70 hours of talks and averted the spectre of strikes at Europe’s largest carmaker.
Source : PTI | Renewable energy player BCL Industries on Wednesday said it is setting up a bio-energy plant in West Bengal with an investment of INR 150 crore. The company has also received an environment clearance for its 75 KLPD (kilo litres per day) plant coming up in Kharagpur, it said.
Source : PTI | The National Green Tribunal (NGT) has sought a response from the Delhi government and others in a matter regarding banned petrol and diesel vehicles being used by the government authorities.
According to the rules, diesel vehicles which are more than 10 years old and petrol vehicles which are above 15 years old cannot ply on National Capital Region (NCR) roads. The green body was hearing a BJP MLA’s plea, which claimed non-compliance with the norms by his “old official vehicle”. Continue reading “NGT notice to Delhi over use of banned petrol, diesel vehicles”
Source : PTI | TVS Motor Company on Wednesday reported a 59% increase in its consolidated net profit to INR 479 crore for the third quarter ended December 31, 2023, riding on the back of robust sales across markets. The company posted a consolidated net profit of INR 301 crore in the October-December period of the last fiscal.
Source : PTI | New Delhi: Maruti Suzuki India on Friday said it will introduce a comprehensive EV ecosystem, including charging stations and home charging solutions, alongside its first offering in the segment — eVitara. The company plans to showcase production-ready eVitara at the upcoming Bharat Mobility Global Expo 2025.
Source : PTI | Tata Power Delhi Distribution on Friday said it has joined hands with Baaz Bikes for augmenting and setting up of electric vehicle battery swapping stations across North and Northwest Delhi. Tata Power Delhi Distribution Ltd (Tata Power-DDL) is a leading power distribution utility that supplies electricity to about 9 million population in North Delhi.
WASHINGTON, (Reuters) – A group of 16 states led by California and environmental groups dropped a lawsuit filed in 2022 that sought to block the U.S. Postal Service’s plan to buy mostly gas-powered, next-generation delivery vehicles.
Since the lawsuit was filed, the Postal Service has shifted from its initial plan to buy 90% gasoline vehicles and 10% EVs to now planning to buy mostly EVs. The California attorney general’s office said on Thursday the states and groups decided to dismiss the lawsuit “given USPS’s commitment to rebuild its fleet with a majority of electric vehicles.” Continue reading “States, environmental groups drop lawsuit over US Postal Service EV purchase plans”
