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Sona Comstar PLI Certification: The company had filed seven applications for different products under the PLI scheme, and it has received the certification for its two products till now, the company said.
Brembo Brakes: Brembo confirms the leadership in the Formula One World Championship ahead of the 2024 season, which starts on March 1 with the Bahrain Grand Prix.
Annual revenue growth of leading auto component manufacturing companies will come down to 5-7 per cent in the next fiscal due to moderation in domestic volumes and a drop in exports, rating firm Icra said on Tuesday. According to Icra estimates, its sample of 45 auto ancillaries, with aggregate annual revenues of Rs 2.7 lakh crore in FY23, is likely to grow by 9-11 per cent in FY24, driven by healthy domestic demand despite a high base and moderate growth in exports.
Magna International: Auto parts suppliers have been hit by a slowdown in demand for EV parts, as automakers scale back investments and shift focus to higher-margin hybrid and gas-powered vehicles. The Aurora, Ontario-based company expects full-year profit in the range of USD 1.6 billion to USD 1.80 billion. Analysts on average were expecting a profit of USD 1.90 billion, according to LSEG data.
Bharat Mobility Expo: Specialised exhibitions such as auto show (including electric and hybrid vehicles), ACMA Automechanika, large-scale tyre exhibition, urban mobility solutions (two wheelers/e-bikes, drones), EV Infra Pavilion (including charging stations and battery swapping) and other energy sources like hydrogen in the mobility landscape would be showcased.