Page 33 - Auto Sector News Today

Notably, Motherson Sumis stock price has increased at a CAGR of nearly 13% since January 2017, well exceeding the Nifty Auto index.

Indian conglomerate Reliance Industries, South Korea's Hyundai Motor Co and automaker Mahindra & Mahindra are among companies that have submitted bids under the country's $2.4 billion (Rs 17,800 crore approx.)battery scheme, two sources told Reuters. India last year finalised an incentive program to encourage companies to invest in the local manufacturing of batteries as it

MG Motor India has received more than 38,000 bookings for Hector. Also, MG Motor India has manufactured 10,000 units of the SUV at its Halol manufacturing plant.

Tesla CEO Elon Musk on Thursday informed that the EV-maker is facing a "lot of challenges" for its car launch in India. "Still working through a lot of challenges with the government," Musk tweeted. Musk was replying to a Twitter user, who asked: "Yo @elonmusk any further update as to when Tesla's will launch in India? They're pretty awesome and deserve to be in every corner

Driven by the facelift version of SUV Compass in February 2021 and the locally-assembled Wrangler, Jeep India sold 12,136 units in 2021 as compared to 5,282 units in 2020.

This scheme will facilitate the automobile Industry to move up the value chain into higher value-added products.

Jeep India offered 12,136 items in 2021 as against 5,282 items in 2020, an 130 per cent growth in its car gross sales.

The auto sector was a surprise performer over the last year, with the top auto index performing a 53% return, and it may continue to outperform this year, as well

Hit by the ongoing semiconductor crisis and rising input costs, experts argue that the increase in prices for cars could feed into the demand for used cars, especially in the pandemic market

Consumer electronics makers expect the semiconductor shortage to ease by the second half of 2022, pinning their hopes on plans of global chipmakers to roll out more fabrication units abroad