Summary
(Reuters) – Automakers and alcoholic beverage companies pared early session losses on Monday after U.S. President Donald Trump paused new tariffs on Mexico for one month. Continue reading “Car makers, brewers pare losses as Trump pauses tariffs on Mexico”
Finance Minister M Nirmala Sitharaman’s eight consecutive budget:
Our economy is the fastest growing economy. The next five years presents a unique opportunity to India.
Budget focuses on growth infrastructure and middle class. Continue reading “Union Budget 2025 -26 Demystified by India’s Leading CA”
OSLO, (Reuters) – Tesla CEO Elon Musk has clashed with Nicolai Tangen, CEO of Norway’s sovereign wealth fund, one of the automaker’s top investors, according to a record of the conversation released on Tuesday.
Last June, the fund voted against Musk’s $56 billion pay package, the largest for a chief executive in corporate America, at Tesla’s annual general meeting, over concerns about its size and structure, among other things. Continue reading “Elon Musk clashes with Norway wealth fund CEO; ‘friends are as friends do’”
Summary
SEOUL, (Reuters) – South Korea’s Hyundai Motor said on Thursday it is in talks with General Motors to supply commercial electric vehicles to its U.S. peer, as it expects sales growth to halve this year due to softening demand. Continue reading “Hyundai Motor nears GM tie-up deal; sees revenue growth slowing in 2025”
Source : PTI | Industry body India Energy Storage Alliance (IESA) has projected USD 500 million investment in Indian battery and mobility startup ecosystem within a year. This investment will drive new innovations, research and development, and advancements in products manufactured by these startups, IESA said in a release.
Besides, this investment will also benefit a range of companies involved in Battery Management Systems (BMS), safety management, and component manufacturing. Continue reading “IESA projects over USD 500 mn investment in Indian battery, mobility startup ecosystem in one year”
Source : PTI | The entry of more players in the EV segment will help in breaking barriers and accelerate adoption of electric mobility in the Indian market, according to leading automobile manufacturers. More product introductions will help in catering to diverse customer needs with competition leading to expansion of the market, they noted. Continue reading “Entry of more players to help break barriers, accelerate adoption of EVs”
TOKYO/SEOUL, (Reuters) – Shares of Japanese automakers and South Korean battery makers declined on Tuesday, after U.S. President Donald Trump said he could impose tariffs on Canada and Mexico soon and revoked the previous administration’s executive order on electric vehicles.
But Chinese manufacturers bucked the trend, with stocks opening higher after Trump did not target China in his inauguration speech or immediately impose tariffs on Beijing as previously promised. Continue reading “Some Asian car and battery makers hit as Trump gets to work”
Source : PTI | JSW MG Motor India on Friday announced their foray into the ‘accessible luxury’ electric car segment with the unveiling of two new models – MG Cyberster, India’s first all-electric Roadster and the MG M9, the first electric three-row limousine, slated to be launched this year. Accessible luxury is usually referred to high-quality products that are priced lower than traditional luxury goods.
The two models were unveiled at the Bharat Mobility Global Expo 2025 and the debut was under its new luxury brand channel, MG Select. Continue reading “JSW MG Motor forays into ‘accessible luxury’ electric car segment”
2024 was a groundbreaking year for JSW MG Motor India, marked by resilience, innovation, and a commitment to sustainability. As the year closed, the company celebrated an impressive 55% year-on-year growth in December sales, with 7,516 units sold compared to 4,848 units in December 2023. This extraordinary leap underscored the company’s rapid rise in the competitive Indian automotive market.
Continue reading “JSW MG Motor India Leads EV Sales with 55% Growth in Dec 2024”
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.
Continue reading “How Tax & Govt Authorities in India are harnessing Digital to Catch Defaulters”
New Delhi, Delhi, India
The 10th edition of IVASS – India Vehicle After Sales Summit, the world’s longest-running program on Vehicle After Sales Service, was recently held in New Delhi. Organized annually by the World Auto Forum (WAF), the summit brought together top leaders from the country’s After Sales Service community under one roof.
The theme this year was “Best Practices for Customer, Profitability, Digital & Growth”
WAF is thankful to the IVASS 24 partners who ensured it goes on to its 10th edition-
Gold OEM Partners
LONDON, (Reuters) – Carmakers said on Tuesday they will have to pay out nearly 6 billion pounds ($7.52 billion) in discounts and compliance costs to meet Britain’s electric vehicle sales mandate for 2024.
“Profitability and viability are in jeopardy and jobs are on the line,” Society of Motor Manufacturers and Traders (SMMT) CEO Mike Hawes warned in a statement. Continue reading “Carmakers say British EV sales mandate to cost them $7.5 bln in 2024”
WASHINGTON, (Reuters) – Tesla generated nearly 34 million metric tons of greenhouse gas credits in the 2023 model year by selling electric vehicles, as the auto industry racked up significant credit deficits in the face of more stringent emissions standards.
In a report first seen by Reuters, the Environmental Protection Agency said Monday new vehicle fuel economy increased by 1.1 miles (1.8 km) per gallon in 2023, reaching a record high 27.1 mpg (43.6 kpg). The EPA said fleetwide fuel economy is preliminarily projected to rise to 28 mpg (45.1 kpg)in the 2024 model year. Continue reading “Tesla racked up greenhouse emissions credits in 2023 as other automakers lagged”
Source : PTI | New Delhi, Transport assets worth approximately USD 575 billion in South Asia, including USD 400 billion in India, are exposed to climate hazards and rapid deployment of resilience measures needed to prevent risk to the sector which contributes significantly to the region’s GDP, according to a report. The South Asian region faces cascading economic losses due to climate risks, with disruptions in transport having cascading effects on key sectors such as manufacturing, agriculture, and services among others, as per the report jointly published by Boston Consulting Group (BCG) and Coalition for Disaster Resilient Infrastructure (CDRI). Continue reading “Transport assets worth USD 400 bn in India exposed to climate hazards: Report”
Summary
STOCKHOLM/GDANSK, (Reuters) – Northvolt’s financial collapse deals a blow to Europe’s plan to set up its own battery industry to power electric cars, stirring a debate about whether it needs to do more to attract investment as startups struggle to catch up with Chinese rivals. Continue reading “Northvolt crisis may be make or break for Europe’s EV battery ambitions”
STOCKHOLM, (Reuters) – Sweden’s Northvolt said on Thursday it will seek U.S. Chapter 11 bankruptcy protection as the cash-strapped battery start-up seeks to sort out its finances.
The company went in a matter of months this year from being Europe’s best shot at a home-grown electric-vehicle battery champion to racing to stay afloat, hobbled by production problems and as funding ran out. Continue reading “Northvolt goes from Europe battery promise to crisis”
Source : PTI | India is set to enter a transformative “smartphone era” for cars in 2025, with the introduction of vehicles featuring 5G M2M connectivity and advanced AI technologies, according to the latest findings from Techarc’s India Connected Consumer Report 2025. The report said the automotive sector will skip 4G and will enable connectivity using the latest 5G cellular technology.
It observed that consumers are interested in spending money on improving the value proposition in terms of features, quality and experience rather than exploring too many smart devices.
SHANGHAI, (Reuters) – China has told its automakers to halt big investment in European countries that support extra tariffs on Chinese-built electric vehicles, two people briefed about the matter said, a move likely to further divide Europe.
The new European Union tariffs of up to 45.3% came into effect on Wednesday after a year-long investigation that divided the bloc and prompted retaliation from Beijing. Continue reading “Exclusive: China tells carmakers to pause investment in EU countries backing EV tariffs, sources say”
DETROIT,(Reuters) – Ford Motor stock has tumbled about 8% so far this week after the company faltered on CEO Jim Farley’s mission to improve efficiency in its traditional gasoline-engine operations, whose profits the company needs to fund its expensive electric vehicle plans.
Quality and warranty problems, supplier issues and waste in the automaker’s 121-year legacy business have obscured its progress, Farley told analysts during a call to discuss quarterly earnings Monday. The automaker said annual results would be in the lowest range of its previous outlook. Continue reading “Ford investors impatient for the automaker to boost efficiency efforts”
SHANGHAI, (Reuters) – China has told its automakers to halt big investment in European countries that support extra tariffs on Chinese-built electric vehicles, two people briefed about the matter said, a move likely to further divide Europe.
The new European Union tariffs of up to 45.3% came into effect on Wednesday after a year-long investigation that divided the bloc and prompted retaliation from Beijing. Continue reading “Exclusive: China tells carmakers to pause investment in EU countries backing EV tariffs, sources say”
Summary
(Reuters) – Volkswagen and Germany’s IG Metall union will start their second round of negotiations on planned cuts to the carmaker’s German operations on Oct. 30, with unions insisting the company must keep all German sites open. Continue reading “Volkswagen, unions to start further talks on Germany cuts”
BERLIN, (Reuters) – The European Union wants a level playing field with China on car tariffs and is negotiating with Beijing on mechanisms such as price commitments or investments in Europe as a solution, European Commission chief Ursula von der Leyen said on Monday.
Speaking alongside German Chancellor Olaf Scholz in Berlin, she said negotiations with China would continue even if the EU’s tariffs on Chinese electric vehicles entered into force. Scholz expressed hope of reaching an agreement by the end of October. Continue reading “EU ‘wants level playing field’, but still negotiating with China on car tariffs”
Summary
NEW DELHI, (Reuters) – Indian billionaire Mukesh Ambani’s Reliance has argued that the telecom regulator incorrectly concluded that home satellite broadband spectrum should be allocated and not auctioned, a letter seen by Reuters shows, intensifying a face-off with Elon Musk’s Starlink. Continue reading “Reliance lobbies India minister on satellite spectrum in new face-off with Elon Musk”
Summary
BRUSSELS, (Reuters) – France, Greece, Italy and Poland will vote on Friday in favour of tariffs of up to 45% on imports of electric vehicles (EVs) made in China, sources said, enough to push through the European Union’s highest profile trade measures, risking potential retaliation from Beijing. Continue reading “EU has enough support to impose Chinese EV tariffs, sources say”
Summary
DETROIT/WASHINGTON, (Reuters) – European automakers are the most likely to be affected by the dockworkers strike at U.S. East Coast and Gulf Coast ports because they rely heavily on those locations, but a longer walkout could prove “debilitating” to the entire sector, industry officials and analysts said. Continue reading “European automakers most at risk from US dockworkers strike, analysts say”
Source : PTI | Ministry of Heavy Industries is working with auto industry associations SIAM and ACMA on Automotive Mission Plan 2047, which will pave the way for India to become an advanced industrial power, a top official said on Tuesday. Addressing an event to launch the PM E-DRIVE Scheme, Secretary in Ministry of Heavy Industries Kamran Rizvi said the PM E-BUS SEVA Payment Security Mechanism will also be rolled out shortly.
“PM E-DRIVE is not the terminal scheme. Another scheme of which we will hold the launch shortly is the PM E-BUS SEVA Payment Security Mechanism scheme,” the secretary said. Continue reading “Working on Automotive Mission Plan 2047 to make India advanced industrial power: Official”
Source : PTI | New Delhi: The National Green Tribunal (NGT) has sought a reply from the Union Ministry of Road Transport and Highways (MoRTH), Bureau of Indian Standards (BIS), and others in a matter regarding the use of cancer-causing chemicals in cars. The tribunal was hearing a matter where it had taken suo motu (on its own) cognisance of a media report regarding the use of two flame retardant chemicals inside cars – – TDCIPP and TCEP – which were carcinogenic.
In an order passed last week, a bench of NGT Chairperson Justice Prakash Shrivastava noted the reply of the Central Pollution Control Board (CPCB) that it did not have the facilities to test whether these substances were carcinogenic. Continue reading “Presence of carcinogenic chemicals in cars: NGT issues notice to BIS, MoRTH”
Source : PTI | India and the US have agreed to give impetus to sustainable aviation fuel, promote electrification of medium and heavy-duty vehicles and use of hydrogen in buses, tractors and heavy equipment, said a joint statement issued after the Strategic Clean Energy Partnership dialogue between the two nations. The two nations “welcomed increased investment in each country’s clean energy markets,” according to the statement issued after the Strategic Clean Energy Partnership (SCEP) Ministerial convened by US Energy Secretary Jennifer Granholm and Indian Minister of Petroleum and Natural Gas Hardeep Singh Puri in Washington DC on Monday.
“While recognising the need to work towards a just, orderly and sustainable energy transition, which prioritises access to reliable, affordable, and clean energy supplies, the (two) sides welcomed the important role that energy trade plays in supporting the national priorities of both countries,” the statement said.
Continue reading “India, US for giving push to sustainable aviation fuel, hydrogen in buses”
HANOVER, Germany, (Reuters) – Major manufacturers, such as Daimler Truck and Traton, displaying their trucks at a transportation fair in Hanover this week say they are ready to go electric, but their e-trucks will not sell without massive investments in charging infrastructure.
Christian Levin, chief of Volkswagen’s truck subsidiary Traton, which owns such brands as Scania, MAN, Navistar, and Volkswagen Trucks and Buses, said the European Union’s goal of reaching a 50% share of e-trucks 2030 for now looks out of reach. “It’s not just about cost, it’s also about charging infrastructure, permissions, green electricity, supply of green electricity, and of course pricing. All of that needs to come together,” he told Reuters in an interview. Continue reading “Truckmakers say they are ready to go electric, but what about charging?”
BEIJING, (Reuters) – China is disappointed at the EU Commission for ignoring efforts by industry to find solutions, the Chinese commerce ministry said on Friday, after the bloc rejected offers from electric vehicle makers for minimum import prices.
The European Commission said it had received offers from electric vehicle makers in China for minimum import prices into Europe as a way of avoiding hefty tariffs but had rejected them. Continue reading “China disappointed at EU ‘ignoring’ tariff efforts”
New Delhi, 10 September 2024: At the 64th Annual Convention of Society of Indian Automobile Manufacturers (SIAM) today, the industry focused on “Sustainable Mobility Journey towards Viksit Bharat” wherein prominent leaders and policymakers discussed the pivotal role of sustainable mobility in achieving Viksit Bharat goals by 2047.
In his special message, Hon’ble Prime Minister of India, Shri Narendra Modi, emphasized on the need for the Automobile sector to set an example for others to follow and said, “The road ahead demands that our progress is rapid while also being sustainable. Working on greener and cleaner mobility is a vital step in this direction”. Continue reading “Hon’ble Prime Minister Highlights Vision for Sustainable Mobility at SIAM’s 64th Annual Convention”
New Delhi, August 29, 2024: The 11th World Auto Forum (WAF) Awards Presentation Ceremony was an unforgettable evening that celebrated the finest achievements in the automotive and mobility industries. Held with great fanfare, the event brought together key industry players, innovators, and thought leaders from across the globe.
The WAF Awards are recognised for their unparalleled rigour and transparency. A dedicated research team from DMS, IIT Delhi plays a crucial role in supporting the jury’s selection process each year, ensuring highest standards are maintained. The jury, composed of industry veterans and experts, use a multi-tiered evaluation process that includes extensive analysis of performance metrics, innovations, and contributions to Marketplace, Business & Society.
New Delhi, August 29, 2024 – In a rapidly evolving world of technology, AI, Blockchain, and Cloud Computing are no longer futuristic concepts—they are integral to the automotive and mobility sectors. The 8th WAFit! Summit 2024, held at Aerocity, New Delhi, united industry leaders and experts to explore these transformative technologies. The summit offered valuable insights into the application, challenges, and future potential of these innovations in shaping the industry.
We keep working hard, really hard. So many days, weeks away from home and family! Manage, fix and conquer so many situations and challenges! Gather all kinds of experiences, exposures, skills, knowledge – Subject matter, Domain, Functional and then suddenly one fine day, we realise….
A set of new techs are busy disrupting our career, our position, our place, ‘our relevance’ in the Organisation, Business Ecosystem and the World!
Many a times we tend to ignore the initial symptoms just like any other physical ailment and then it strikes hard, really hard and it feels sudden but it never was….We allowed the Build Up…
Getting superseded, Missing a promotion or worse, a notice period or an instant pink slip!
Continue reading “A for AI, B for Blockchain, C for Cloud | Time to Learn the New ABC of Tech”
Tax Rate for Assessment Year 2025-26 and Financial Year 2024-25
Continue reading “India’s Top CA Demystifies Union Budget 24-25 in 12 Simplified Shots”
GENERAL
China’s EV battery giants CATL and BYD are eyeing the growing market for stationary energy storage.
Here are the numbers behind their energy storage business:
CATL has ranked first globally in terms of battery deliveries for energy storage since 2021 with more than 40% of the global market share, according to its annual report. It counts among its major clients state-owned power companies such as Huaneng as well as top energy storage system manufacturers including Sungrow Power Supply. Continue reading “How China’s EV battery makers stack up in energy storage”
Summary
BEIJING, (Reuters) – China announced the next step in its anti-dumping investigation into European brandy imports on Friday, ramping up tension on the day the European Commission’s provisional tariffs on Chinese-made electric vehicles take effect. Continue reading “China steps up pressure with EU brandy probe hearing as EV tariffs begin”
