The move to electrify government employees’ car fleet ended with just set 3,000 cars, against a target of 10,000.
Japanese automaker Suzuki Motor’s two-wheeler unit may start testing its electric scooter on the streets of India as soon as next year, but will likely wait for infrastructure to develop before marketing the product.
"We will respect the government policy. We will make some prototypes. But there is no infrastructure — the charging system, battery station,” said Satoshi Uchida, the managing director of Suzuki Motorcycle India. When the company eventually launches its electric two-wheelers in India, it stands to benefit from the EV infrastructure of Maruti Suzuki.
Hero MotoCorp has set a target of selling one million units overseas annually in the next three to four years, Rajat Bhargava, head of global business for Hero MotoCorp, told ET. With a projection of increasing total annual sales to 10 million units during the same period, the company expects overseas sales to contribute 10% to its revenue from 3% at present.
M&M spent upwards of Rs 75 cr to sponsor its racing team during FY19. Traditionally, automakers participate in racing to develop technology for their road vehicles as well as for marketing purposes.
The new strategy revolves around bringing in new models, widening geographical reach, ensuring profitability in the sales network and switching to sales of only petrol and electric vehicles, something which the group is doing globally.
The joint venture between Lohia Group and US-based UM Motorcycles- UM Lohia that came into existence in 2015, is now sent a legal notice by FADA under allegation of forgery and fraud. It caused huge losses to its dealers and investors.
Conundrum ensues as data on vehicle registration from VAHAN dashboard by SIAM & FADA show divergence.
Vehicle registrations, which are a proxy for retail sales, declined 12.9% during September, as per the Federation of Automobile Dealers Association. Car registrations were down by 20.1%, while 2-wheeler registrations declined 12.1%.
Mahindra Trucks & Bus division eyes break even of operation in 12-18 months with hope of market recovery
The company has set a target of revenue of Rs 10,000 crore in the next three years.
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