New Delhi: The government is likely to stick to the budgeted estimate of total tax collection target of INR 33.61 lakh crore for current fiscal in the revised estimates, a senior finance ministry official said on Monday. “So far, direct tax collection is up by about 20 % and indirect tax is higher by 5 %. We have data till the eight months of the fiscal and usually the collections are better in the first half. So, at the moment, we will stick to the Budget numbers in our Revised Estimates (RE),” an official said.

For 2023-24 (April-March), the Union Budget had pegged total tax collections at INR 33.61 lakh crore, up 10.1 % from INR 30.54 lakh crore in the previous year.

Continue reading “Govt to stick to INR 33.61 lakh cr tax collection target in revised estimate, no case for fuel tax cut: Official”

By Joseph White

DETROIT, Dec 11 (Reuters) – This was the year the auto industry’s race toward an all-electric future took a detour.

Heading into 2023, automakers were gearing up to invest $1.2 trillion by 2030 to move electric vehicles from niche products to mass-market models – many with batteries and software developed in-house, according to a Reuters analysis.

As the year closes, legacy automakers as well as Tesla (TSLA.O), Rivian (RIVN.O) and other EV startups are throttling back investments and reworking product strategies. Legacy automakers are appealing to policymakers for more help to offset the high costs of the EV transition, on top of billions of dollars already pumped into EV subsidies.

Continue reading “In 2023, bold EV strategies took a punch from reality”

Source : PTI | India will add another 38 gigawatt (GW) of renewable energy capacity by March 2025 to touch 170 GW-mark, aided by moderation in solar module prices, an Icra analyst said on Thursday. The country’s installed renewable energy capacity was at 130 GW as of October 2023, Vikram V, Vice President & Sector Head – Corporate Ratings, Icra, said in a webinar.

Indian Renewable Energy (RE) capacity is expected to reach 170 GW by March 2025, led by strong policy support and moderation in solar module prices, he said.

Continue reading “Renewable energy capacity to reach 170 GW by March 2025 on moderation in module prices: Icra analyst”

Source : PTI | The government should not dilute the Make in India initiative and follow a consistent policy, FICCI EV Committee Chairperson Sulajja Firodia Motwani said amid a push from American electric carmaker Tesla for special sops to set up its factory in the country.

Motwani, the founder and CEO of Kinetic Green which sells battery-operated three-wheelers, scooters, e-cycles, and buggies, also emphasised creating a holistic ecosystem for the growth of the electric vehicle segment. Continue reading “Need to follow consistent EV policy, no need for company-specific sops: FICCI EV Committee chair”

By WAF Think Tank 

Škoda Auto Volkswagen India Private Limited has won, not just one, but three prestigious certifications – Great Place to Work® Institute (India), Top Employers Institute and HR Asia Awards (Best Companies to Work For in Asia).

This moment is a testament to the commitment and dedication of every member of the incredible team at Skoda VW India! From fostering a culture of inclusivity and innovation to promoting growth at every step, they surely believe in the power of their people!

Continue reading “Škoda Auto Volkswagen India wins Three Prestigious HR Certifications”

LONDON, Nov (Reuters) – Uber (UBER.N) will open up its platform to London’s black cabs next year, the ride-hailing firm said on Wednesday, trying to win over the British capital’s taxis after a decade of tensions.

London’s black cab drivers – who have to pass a test called “The Knowledge” requiring them to memorise thousands of routes within the city – have long been at loggerheads with Uber, arguing it threatens their livelihoods. Continue reading “Uber tries to win over London black cabs”

Nov (Reuters) – Electric vehicles continue to grapple with poor reliability due to charging and battery issues, a survey by an influential U.S. non-profit organization showed on Wednesday, even as consumers are buying them at a breakneck pace.

On average, new EVs had 79% more problems than gasoline-powered vehicles, Consumer Reports’ 2023 Annual Auto Reliability survey showed. Hybrid vehicles had fewer issues than gasoline ones, while plug-in hybrids had 146% more problems. Continue reading “EVs struggle with reliability due to charging, battery issues – Consumer Reports survey”

By Team Intellinet Systems

Aftermarket refers to the set of activities that happen after an OEM sells a product or service. It includes repair, service, replacement, warranty, and much more. Although it doesn’t sound much of a hassle, managing the entire aftersales activities is not only hectic and cumbersome but also cost-intensive. Managing parts and services poses multiple challenges for businesses. In this blog, we will discuss how aftermarket software solutions streamline these processes and reduce operational costs while maintaining the customer experience.

Let us now talk about the benefits that enable OEMs with better parts and service management: Continue reading “How can aftermarket solutions software streamline parts and service management?”

Summary

• India’s No. 1 e-scooter maker faces challenges ahead of IPO
• Some service centres have big backlogs, long repair times
• Ola’s CEO says it’s aggressively expanding service network

THANE/HYDERABAD/NEW DELHI/MUMBAI, Nov (Reuters) – Bhavish Aggarwal, India’s answer to Elon Musk, is racing to roll out millions of electric scooters and speed his nation to a cleaner future. Some of his mechanics can’t keep up, though.

Aggarwal’s Ola Electric, which he likens to Tesla in the West, is zipping towards a stock-market listing after going from zero to 338,000 e-scooter sales in about two years. The tech entrepreneur vows to banish the internal combustion engine (ICE) from India, where two-wheel vehicles rule the roads. Continue reading “Tesla on two wheels? India’s Ola Electric feels the strains of success”

Source : PTI | Domestic commercial vehicle industry is expected to touch the peak sales volume of 2018-19 this fiscal and grow briskly over the next few years coinciding with the growth of the overall economy, VE Commerical Vehicles MD and CEO Vinod Aggarwal said on Monday. He noted in the first seven months (April-October), the heavy duty truck segment has grown by 15 per cent.

“We are expecting that this year the industry should either be very near to the peak or it may even cross earlier peak of 2018-19,” Aggarwal told PTI here in an interaction. Continue reading “Commercial vehicle segment set for growth with expanding economy: VECV MD”

Source : PTI | Transitioning Indonesia’s millions of petrol-fuelled motorbikes to electric is a daunting task but there is a feasible solution.

There are more than 122 million motorcycles in Indonesia, making them the most popular form of transport in the country.

Cheap and efficient, and better on the notoriously clogged roads of the country’s biggest cities, motorbikes also come at a cost: along with other road vehicles, they are a major source of greenhouse gas emissions. Continue reading “How battery swapping can accelerate e-motorbikes”

LONDON, Nov (Reuters) – New car sales in the European Union rose 14.6% in October, boosted in part by a big jump in sales of fully electric cars, while hybrid electric vehicles accounted for nearly three of every 10 vehicles sold in the economic bloc.

Sales of fully electric cars rose 36.3% from a year earlier and full hybrid sales were up nearly 39% as the EU recorded its 15th consecutive month of sales growth, the European Automobile Manufacturers Association (ACEA) said on Tuesday. Continue reading “EU October car sales up 14.6%, EV sales jump more than 36%”

SHANGHAI, Nov 21 (Reuters) – As EV makers in China wage an intense price war to prop up slowing demand, Chinese brands with strong hybrid lineups are emerging as winners, attracting consumers with vehicles with long range that can cost less than gasoline cars.

The emerging trend may provide a glimmer of hope for global automakers such as Toyota (7203.T) and Honda who are pursuing “multi-pronged” electrification strategies, as electric vehicle (EV) sales lose momentum in Europe and the U.S., partly because of high auto financing costs. Continue reading “Hybrid vehicle sales surge in China, posing fresh threat to foreign automakers”

Nov (Reuters) – The United Auto Workers (UAW) said Monday that 64% of workers at the Detroit Three automakers voted to ratify new record contracts after a six-week targeted strike, as the union turns its attention to organizing foreign-owned and Tesla auto plants.

The votes lock in the UAW’s tentative agreements with the automakers through April 2028, which include a 25% increase in base wages and will cumulatively raise the top wage by 33%, compounded with estimated cost-of-living adjustments to over $42 an hour. Continue reading “UAW clinches record Detroit deals, turns to organizing Tesla, foreign automakers”

WASHINGTON, Nov (Reuters) – Four large pickup trucks fared poorly in protecting back seat passengers in tests measuring how those passengers fare in some crashes, the Insurance Institute for Highway Safety said on Tuesday.

IIHS said the 2023 model Stellantis (STLAM.MI) Ram 1500 crew cab, Ford F-150 (F.N) crew cab and General Motors (GM.N) Chevrolet Silverado 1500 rated poorly in updated moderate overlap front crash tests, while the 2023 Toyota Tundra (7203.T) crew cab received a marginal rating. Continue reading “Large pickup trucks fare poorly in protecting back seat passengers -study”

Source : PTI | Singapore has witnessed a decline in car owners, with approximately one-third of households owning automobiles in the city-state, down from 40 % in 2013, as the government progresses towards transforming the country into a car-lite society, a senior minister said on Monday. The government also aims to have 75 % of peak-period journeys made on public transport by 2030, via the expansion of the MRT (Mass Rapid Transit) network, up from the current 64 %, The Straits Times newspaper reported.

Continue reading “Singapore’s car-lite policy reduces car ownership to one-third, down from 40% in 2013”

Source : PTI | Steps such as curbs on inbound shipments of certain goods, production-linked incentive scheme and mandatory quality norms are helping the country reduce imports of non-essential products such as TV, tyres, wallpaper and AC gas compressors. These steps, among others like imposing antidumping and countervailing duties, have been taken to analyse and control non-essential imports and to augment domestic production capacity in import intensive sectors, an official said. Continue reading “Restrictions, PLI, mandatory quality norms help cut import of certain non-essential goods”

Source : PTI | India is unlikely to go in for hyperloop technology for ultra high-speed trains in the near future as the technology is at a ‘very low level’ of maturity and may not be economically viable at the current juncture, NITI Aayog Member V K Saraswat said on Sunday. Saraswat, who is heading a committee to explore the technological and commercial viability of the Virgin Hyperloop technology, further said some foreign companies have shown interest to bring the technology in India. Continue reading “India unlikely to have hyperloop trains in near future: NITI member V K Saraswat”

WASHINGTON, Oct 16 (Reuters) – A group representing General Motors (GM.N), Toyota Motor (7203.T), Volkswagen (VOWG_p.DE) and nearly all other major automakers on Monday sharply criticized the Biden administration proposal to drastically hike fuel efficiency requirements.

The Alliance for Automotive Innovation said the National Highway Traffic Safety Administration’s (NHTSA) Corporate Average Fuel Economy (CAFE) proposal was unreasonable and requested significant revisions. Continue reading “Automakers blast US plan to hike fuel efficiency rules”

Source : PTI | New Delhi: Petrol and diesel sales fell in the first half of October ahead of the start of festival season that is expected to boost consumption, preliminary data of state-owned firms showed. Last year, Durga Puja/Dussehra as well as Diwali fell in October. This year the festival season, when consumption picks up, starts in the second half of October.

Petrol sales by three state-owned fuel retailers fell 9 % year-on-year, the first drop in two months. Diesel consumption dropped 3.2%. Continue reading “Petrol, diesel sales fall ahead of start of festive season”

BRUSSELS, Oct 16 (Reuters) – European Union countries backed tougher CO2 emissions targets for heavy goods vehicles on Monday, requiring new trucks to slash their emissions by 90% by 2040, but they delayed a planned target to drive a switch to electric city buses.

EU countries’ climate ministers agreed to support a proposed law on the issue, which would also require new trucks sold in the EU to have 45% less CO2 emissions by 2030 and 65% by 2035, compared with 2019 levels. Continue reading “EU countries back targets to slash truck CO2 emissions”

Oct 15 (Reuters) – Canadian labor union Unifor on Sunday said its members had voted in favor of a contract with General Motors (GM.N), a relief for the automaker as it also faces a larger strike by hourly workers in the United States.

The Canadian union, which represents about 4,300 workers at GM in these talks, said 80.5% of its members at facilities in Oshawa, St. Catharines and Woodstock voted in favor of the deal. Continue reading “Canadian autoworkers union Unifor ratifies GM labor deal”

Source : PTI | New Delhi: India is taking the lead in the global shift to electrification by introducing several electric vehicles or hybrid vehicles. According to market research firm Jato Dynamics, Electric vehicle (EV) sales grew 112% YoY to 50,284 units during April-September 2023. Thus, India has already begun shifting to EVs. But the question is whether the infrastructure is ready for such a major shift in the automobile industry? Here is a close look at the current situation in the country.

Q.1 What is the present status of EV charging ecosystem (including home stations) in India and the projected demand? Continue reading “Is India’s infrastructure ready to be electrified?”

Source : PTI | New Delhi: The Indian automobile sector has the potential to become an export-led USD 1 trillion industry by 2035, according to a report. The industry can achieve the size enabled by manufacturing, innovation and technology leadership, as per a report by Arthur D Little.

Arthur D Little Managing Partner (India & South Asia) Barnik Chitran Maitra noted that India’s automotive industry can become a global hub for design, development, and production, appealing to international markets. Continue reading “Indian automobile industry capable of becoming export-led USD 1 trillion by 2035: Report”

Source : PTI | There is significant growth opportunity in the Indian Battery Energy Storage System market largely driven by technological advancements in new battery technologies, experts believe. Moreover, adopting sustainable recycling methods is crucial because the market for recycled EV batteries in India is predicted to reach 128 GWh by 2030, said Yogesh Mudras, MD of Informa Markets in India, the firm that organised the Renewable Energy India Expo here.

Over 700 exhibitors, more than 900 brands have converged for the expo, which is expected to attract around 40,000 visitors over the next three days. Continue reading “Significant growth opportunities in Indian battery energy storage system market: Industry players”

Source : PTI | Delhi has been experiencing hazardous levels of nanoparticles in urban air, especially in the roadside environment, directly related to vehicular engine exhaust, raising pubic health concerns, according to a study. Nanoparticles are minuscule particles, often measuring between 10 to 1000 nanometers (nm) in diameter, making them invisible to the naked eye.

These particles are more dangerous to human health due to their much smaller size compared to PM 2.5 or PM 10. Being 600 times smaller than a human hair, they can penetrate deep into our lungs, bloodstream, and even the brain. Continue reading “Nanoparticle emissions from Delhi’s transport sector could trigger significant health risks: Study”

Source : PTI | New Delhi: The domestic demand for EV chargers is likely to grow at a CAGR of 65% to reach the 3 million unit mark by 2030, according to a report. More than 17,000 units of electric vehicle (EV) chargers were sold in 2021, the joint report of Customized Energy Solutions(CES) and India Energy Storage Alliance (IESA) said.

The Indian EV charger market is poised to expand at an impressive CAGR of 65% between 2022 and 2030 to achieve annual sales of 3 million units to meet the requirement of chargers to meet the national EV scenario (NEV) by 2030, the report titled ‘India Electric Vehicle Charging Infrastructure & Battery Swapping Market Overview’ said. Continue reading “Demand for EV charger to grow at 65% CAGR by 2030”

BELLEVILLE, Michigan, Sept 26 (Reuters) – President Joe Biden on Tuesday joined a picket line with striking autoworkers in Michigan, supporting their call for a 40% pay raise and saying they deserve a “lot more” than they are getting.

Biden’s appearance, the first visit by a U.S. president to striking workers in modern history, comes a day before Donald Trump, the Republican front-runner for president, will speak to auto workers in Michigan. The rare back-to-back events highlight the importance of union support in the 2024 presidential election, even though unions represent a tiny fraction of U.S. workers. Continue reading “Biden says UAW should fight for 40% pay raise in Michigan strike visit”

MUNICH, Sept 6 (Reuters) – China’s electric vehicle industry leaders from policy adviser and ‘father of EVs’ Wan Gang to the heads of carmakers BYD and Nio and battery maker CATL called for stronger global cooperation and standardisation in policy to ease the technological transition.

Wan, a key figure in leading China’s development of electric vehicles, said efficient batteries, better EV architectures and intelligent driving systems were the three key technologies required to boost EV uptake. Continue reading “Chinese auto executives and ‘father of EVs’ urge global cooperation”

MUNICH, Sept 6 (Reuters) – BYD (002593.SZ) chairman and president Wang Chuanfu told German auto executives at a conference in Munich on Wednesday there was room for more cooperation in the electric vehicle transition, echoing a series of Chinese EV startups calling for partnerships.

“We believe there is more space to cooperate and work together with German counterparts … we want to invite partners from Germany to join BYD to promote green transport,” Wang Chuanfu said, speaking at the World New Energy Vehicle Congress. Continue reading “BYD calls for more cooperation with German automakers”

LONDON/DETROIT/MILAN, England, Sept 6 (Reuters) – A global shortage of technicians and independent repair shops qualified to fix electric vehicles (EV) threatens to increase repair and warranty costs for drivers, potentially undermining upcoming deadlines to cut vehicle carbon emissions.

From Milan to Melbourne to Malibu, technician training organizations, warranty providers and repairers say that independent repair shops will be vital for making EVs affordable because they are far cheaper than franchise dealers. Continue reading “EV broken? Finding a technician to fix it may take a while”

Aug 29 (Reuters) – Elon Musk has championed Tesla Inc’s (TSLA.O) driver assistance Autopilot and “Full Self-Driving” software as innovations that will both improve road safety and position the electric vehicle maker as a technology leader.

But the Tesla systems – and Musk’s claims about them – face their biggest challenge since the launch of Autopilot in 2015 as a series of lawsuits over fatal Tesla accidents head to court starting next month and a federal probe into Autopilot nears an end. Continue reading “Factbox: Tesla’s Autopilot faces unprecedented scrutiny”

Source : PTI | India’s automotive industry is poised to rank number three in the world by 2030, with various schemes like the INR 25,938 crore PLI for Automobile and Auto Components supporting the sector’s growth, the government said on Monday. Ministry of Heavy Industries (MHI) is organising a conference on Tuesday to review the performance of the Production Linked Incentive -Auto Scheme. The meeting with stakeholders will be chaired by Heavy Industries Minister Mahendra Nath Pandey.

The event shall have special focus on understanding the opportunities available through this scheme. Continue reading “India’s auto industry poised to rank number 3 in world by 2030: Govt”

To truly realize the full potential of Artificial Intelligence (AI), we need to figure out a way to embrace AI so that we can innovate faster while at the same time protect privacy, said Mr N Chandrasekaran, Chair, B20 India and Executive Chairman, Tata Sons, India. Mr Chandrasekaran said that having the right digital infrastructure like cloud, data centre, digital devices for everyone, etc is fundamental to make a large impact. He was speaking during Plenary Session 2 on ‘AI for Business and Societies: Opportunities and Regulations’ at the B20 Summit India 2023 in New Delhi on 25 August. The summit was organized by CII, the Secretariat for the B20 India. Continue reading “Need to embrace AI, innovate faster and protect privacy: B20 India Chair India has made a big breakthrough in the privacy space: N Chandrasekaran”

Source : PTI | New Delhi: India’s imports from Russia doubled to USD 20.45 billion during the April-July period of this fiscal due to increasing inbound shipments of crude oil and fertiliser from that country, according to the commerce ministry data. With this, Russia has become India’s second largest import source during the first four months of this fiscal.

The imports were USD 10.42 billion during April-July 2022.

From a market share of less than 1% in India’s import basket before the start of the Russia-Ukraine conflict, Russia’s share of India’s oil imports rose to over 40%. Continue reading “India’s imports from Russia doubled to USD 20.45 billion in April-July period”

THE DEMISE OF CHINA’S GROWTH HAS BEEN MISTAKENLY FORECAST BEFORE. IS THIS TIME DIFFERENT?

Activity data has been missing forecasts since the beginning of the second quarter, with the weakness raising worries that China’s economy is coming closer to a crunch point.

It would not be for the first time. Continue reading “How much worse can China’s economic slowdown get?”