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Policy & Industry News: ICE vehicles transformed global mobility, but environmental concerns persist. Transitioning to EVs, governments consider phasing out ICE vehicles. Con
BorgWarner, which is a supplier to automakers such as Ford Motor and Volkswagen, said it expects 2024 adjusted per share profit in the range of USD 3.65 to USD 4.00. Analysts on average were expecting a profit of USD 4.27 per share, according to LSEG data.
Demand in this segment has been impressively strong and relatively price inelastic. An EV charge led by luxury cars could reset broad aspirations and hasten mass-market adoption.
The end to the subsidy programmes has further taken the wind out of the electric car market, with sales of battery models down in recent months. The lack of state support "will lead to a decline in new electric vehicle registrations this year", EY analyst Constantin Gall said.
Diesel-petrol Vehicles: "In an initiative to achieve the goal of 'Green and Clean Himachal', Chief Minister Thakur Sukhvinder Singh Sukhu has directed all government departments not to buy diesel or petrol vehicles from January 1st, 2024," the statement said.