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Micromax co-founder Launches a new electric bike venture

6Apr By NitishNo Comments

Automobile

Micromax co-founder Launches a new electric bike venture

India's leading handset maker Micromax co-founder Rahul Sharma launch a new electric motorcycle which is expected to hit the roads by June this year. Sharma has set up Revolt Intellicorp Pvt Ltd, a firm wholly owned by him with a view "to make personal mobility practical, affordable and sustainable". He is investing total around Rs 500 crores in this venture. Headquartered in Gurugram, Revolt Intellicorp has a manufacturing facility in Manesar, Haryana. Spread over 1 lakh square feet, the facility boasts a production capacity of 1.2 lakh vehicles per annum for first phase. "I always wanted to get into the smart mobility sector. I had even met many global players to foray into the segment. During this period I even considered investing in some of the existing companies that were ...

1000 km in a single recharge, Swiss Startup developing an Electric Car rechargeable battery

5Apr By PriyankaNo Comments

Automobile

1000 km in a single recharge, Swiss Startup developing an Electric Car rechargeable battery

Switzerland based Innolith AG, the world leader in rechargeable Battery Technology announces that it is developing the world’s first 1000 Wh/kg rechargeable battery. Under development in the company’s German laboratory, the new Innolith Energy Battery would be capable of powering an Electric Vehicle (EV) for over 1000km on a single charge. The Innolith Energy Battery would also radically reduce costs due to the avoidance of exotic and expensive materials combined with the very high energy density of the system. The Innolith battery uses a non-flammable inorganic electrolyte, unlike conventional EV batteries that use a flammable organic electrolyte. The switch to non-flammable batteries removes the primary cause of battery fires that have beset the manufacturers of EVs. “The...

Royal Enfield to invest $100 million in 2019-20

2Apr By AnkitaNo Comments

Automobile

Royal Enfield to invest $100 million in 2019-20

Eicher Motors, the subsidiary of Royal Enfield has said that they are having $100 million investment expenditure plan for Royal Enfield in FY19-20 The investment will use mostly to set up and start the new production plant. The company said, "the second phase of our Vallam Vadagal plant near Chennai, Tamil Nadu is progressing well and is expected to commence commercial production in the second half of this financial year. The construction of the Technology Centre in Chennai is also nearing its completion". "With a wide distribution network in India, growing international presence and building state-of-the-art capabilities in product development, Royal Enfield is well on its way to grow the middleweight motorcycle segment globally in the coming years," company added. In FY 2018...

Pierer Industrie in talks with Bajaj Auto for 48% stake in KTM

22Mar By Press Trust of IndiaNo Comments

Automobile

Pierer Industrie in talks with Bajaj Auto for 48% stake in KTM

New Delhi: Bajaj Auto and Pierer Industrie AG have started discussions to assess the possibility of transferring Bajaj's 48% stake in KTM AG to KTM Industries AG. As per the offer, Pierer Industrie still retains the controlling majority over KTM Industries AG. "Pierer Industrie AG and Bajaj will now evaluate the proposals in detail. The transaction decision is targeted to be made in the second quarter of 2019," Bajaj Auto said in a regulatory filing Thursday. At present, Pierer Industrie AG holds approximately 62% of the shares of KTM Industries AG. The listed company KTM Industries AG holds approximately 51.7% of the shares of KTM AG. "If Pierer Industrie AG and Bajaj decide to execute the transaction, KTM Industries AG will examine the legal and economic requirements and cond...

Tesla Y Model Launched, Starting Price is $39000

15Mar By PriyankaNo Comments

Automobile

Tesla Y Model Launched, Starting Price is $39000

Elon musk led Tesla Motors unveiled its newest vehicle, the Model Y, an SUV that the automaker hopes will win over consumers looking for an all-electric alternative in the most popular segment of the auto market. Tesla launched 4 segments of model Y with a starting price of $39,000 USD, following with the other price band at $47,000 USD, $51,000 USD and $60,000 USD, respectively. CEO Elon Musk introduced the Model Y on Thursday night at a gathering of customers, employees and media. The Model Y may be Tesla's most important product yet as it attempts to expand into the mainstream and generate enough cash to repay massive debts that threaten to topple the Palo Alto, California, company. Tesla got a huge boost toward ensuring its survival with the 2017 debut of its Model ...

Volkswagen to cut 7,000 jobs for 5.9 billion euros annual savings

13Mar By PriyankaNo Comments

Automobile

Volkswagen to cut 7,000 jobs for 5.9 billion euros annual savings

Germany based automobile brand Volkswagen said it will cut down its workforce by up to 7,000 staff, raise productivity and eke out 5.9 billion euros worth of annual savings at its core Volkswagen brand by 2023 in a bid to raise Volkswagen’s operating margin to 6 percent. The Wolfsburg, Germany-based carmaker Volkswagen has ruled out compulsory layoffs until 2025, but early retirement will help to reduce its workforce between 5,000 and 7,000 positions, the carmaker said. “The measures from the earnings improvement programme will enable our brand to achieve a competitive return level of six percent in 2022,” Arno Antlitz, Volkswagen brand’s board member for controlling, said in a statement. The cuts will be realized through voluntary staff turnover and partial retirement, while temp...

Mahindra Group firm Pininfarina launches luxury electric car Battista

6Mar By Press Trust of IndiaNo Comments

Automobile

Mahindra Group firm Pininfarina launches luxury electric car Battista

Luxury electric vehicles brand Automobili Pininfarina, a part of the Mahindra Group, on Tuesday launched its luxury electric car Battista which is touted to be faster than a current Formula 1 race car in its 0-100 km/h sub-two second sprint. "When it arrives in 2020, the Battista will be the most powerful car ever designed and built in Italy and it will deliver a level of performance that is unachievable today in any road-legal sports car featuring internal combustion engine technology," Automobili Pininfarina said in a press release. Faster than a current Formula 1 race car in its 0 -100 km/h sub-two second sprint, and with 1,900 hp and 2,300 Nm torque on tap, the Battista will combine extreme engineering and technology in a zero emissions package, the company said. Commenting on...

Volkswagen signs e-vehicle startup as first partner for production platform

5Mar By reutersNo Comments

Automobile

Volkswagen signs e-vehicle startup as first partner for production platform

FRANKFURT - Volkswagen has signed German start-up e.GO Mobile as the first external partner for its modular platform for electric vehicles (EV), as it seeks to simplify production across a variety of models. The partner will use VW's so-called MEB production system to "bring e-vehicles to market that complement Volkswagen's model offering," the carmaker said in a statement. A specific vehicle has yet to be decided on jointly, it added. The VW brand's strategy chief Michael Jost said in a newspaper interview in January the group was in advanced talks with competitors over opening its modular EV production platform to rivals. The platform seeks the cost advantages of large production numbers by standardizing as much as possible even across very different models. Volkswagen in...

Hero MotoCorp sets up R&D centre in Germany

30Jan By AdityaNo Comments

Automobile

Hero MotoCorp sets up R&D centre in Germany

Two-wheeler major Hero MotoCorp Wednesday announced setting up of its first research and development (R&D) center near Munich in Germany. A wholly-owned subsidiary of Hero MotoCorp Ltd, Hero Tech Center Germany GmbH, is located at Stephanskirchen near Munich. It will operate in tandem with Hero's Global R&D hub, the Center of Innovation and Technology (CIT) in Jaipur, the company said in a statement. "Setting up of the Hero Tech Center Germany is a realisation of our aspiration to build an R&D ecosystem that is spread across global geographies,"Hero MotoCorp chairman Pawan Munjal said. He added that the center in Germany will be a source of modern technologies with a focus on the global cust...

Volkswagen to Manufacture Mobile Electric Car recharging stations

27Jan By reutersNo Comments

Automobile

Volkswagen to Manufacture Mobile Electric Car recharging stations

Volkswagen will manufacture electric car batteries and charging stations in its home region in Germany, as it prepares to mass-produce electric vehicles and overhaul its components division, which makes engines and steering parts. Volkswagen (VW) said on Friday it would invest 870 million euros ($985 million) by 2020 to developing e-vehicle components, adding the batteries business would manufacture battery cells and packs as well as overseeing recycling of old cells. The German carmaker, which is headquartered in Wolfsburg, Lower Saxony, also said it would start producing mobile electric car charging stations at its nearby plant in Hannover, which currently makes engines and castings. VW will bundle cells from electric car batteries into storage powerbanks that can be used to re...

15Jan By NitishNo Comments

Automobile

Cadillac entering into Electric Car Segment With Crossover Vehicle

Luxury car brand Cadillac is entering into the electric vehicle segment with crossover vehicle launch. GM plans to launch Cadillac its lead electric vehicle brand to compete against Tesla and with other EV automakers. GM unveils the images of the full-size crossover SUV during a debut party for the 2020 Cadillac XT6 in Detroit. Cadillac furthered its recent product blitz today with the reveal of the brand’s first EV. This will be the first model derived from GM’s future EV platform. GM announced on Friday that Cadillac will be at the vanguard of the company’s move towards an all-electric future. However, Cadillac yet not revealed the name of electric crossover and additional details but said that all information will share closer to launch. The electric vehicle design will...

Tata’s JLR to shed 4,500 Jobs Worldwide Amid Slumping Sales in China, Brexit Concerns

11Jan By AnkitaNo Comments

Automobile

Tata’s JLR to shed 4,500 Jobs Worldwide Amid Slumping Sales in China, Brexit Concerns

Jaguar Land Rover, owned by Indian conglomerate Tata Motors announced around 4,500 job cuts worldwide after the dwindling sales in China and concerns about UK's competitiveness post Brexit. The JLR's manufacturing is centred in the UK, with additional plants in China, Brazil, Austria and Slovakia. In India, the company has an assembly unit in Pune. As per the report, the substantial majority of the 4,500 job cuts will be from JLR's 40,000-strong UK workforce. Most of the cuts will be in office roles as the company wants to simplify its management structure, it said. China is JLR's biggest and hitherto most profitable market. In China it has hired 4,000 workers since 2014. The JLR has been saying for more than a year that Brexit uncertainty would eventually take its toll on t...