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Tata Motors launches new pickups Tata Yodha 2.0, Intra V20 and Intra V50
short by Roshan Gupta / on 28 Sep 2022,Wednesday
Tata Motors introduces the Tata Yodha 2.0, Intra V20 bi-fuel and Intra V50 in India's rapidly-growing pickup segment. Yodha 2.0's load capacity of 2000 kg is highest among pickups, Tata Motors said, adding that Intra V50 offers unmatched versatility with 1500 kg payload and Intra V20 is India's first bi-fuel pickup, combining high performance with low operational costs of CNG.
short by Roshan Gupta / 04:50 pm on 28 Sep
California-based startup Wisk Aero has unveiled its sixth-generation aircraft, an electric air taxi that can accommodate four passengers and fly without a human pilot. It has a cruising speed of 120 knots, a range of 140 kilometres with reserves, and can fly at an altitude of 2,500-4,000 feet above ground. Wisk has sought regulatory approval for commercial air taxi service.
short by Hiral Goyal / 04:53 pm on 03 Oct
6 airbags mandatory in passenger cars from October 2023: Nitin Gadkari
short by Ankush Verma / on 29 Sep 2022,Thursday
Minister of Road Transport & Highways Nitin Gadkari has tweeted, "Considering global supply chain constraints being faced by auto industry...it's been decided to implement proposal mandating a minimum of 6 Airbags in Passenger Cars (M-1 Category) from 1st October 2023." "Safety of all passengers travelling in motor vehicles irrespective of their cost and variants is foremost priority," he wrote.
short by Ankush Verma / 02:45 pm on 29 Sep
Kia India has recalled 44,174 units of its latest model Carens in order to inspect and fix any potential error in the airbag control software module. The company also said that if any error is found during the inspection, a software update will be provided free of cost. Kia Carens was launched in India in February 2022.
short by Ridham Gambhir / 01:03 pm on 04 Oct
Tesla appoints billionaire Airbnb Co-founder Joe Gebbia to board
short by Ridham Gambhir / on 29 Sep 2022,Thursday
Tesla has added billionaire Airbnb Co-founder Joe Gebbia as an independent member on its board of directors. In July, Gebbia stepped down from his full-time operating role at Airbnb after 14 years. Notably, Gebbia has waived all entitlement to cash compensation and has agreed to not take any stock-based rewards until July 2023, said Tesla in filings with the SEC.
short by Ridham Gambhir / 10:20 am on 29 Sep
Union Minister Nitin Gadkari urged Mercedes-Benz to produce more cars locally and emphasised reducing costs. Speaking at the company's event, he said, "You increase the production, only then is it possible to reduce cost. We're middle-class people, even I can't afford your car." The company has launched EQS 580 4MATIC in India, its first locally assembled electric car.
short by Ridham Gambhir / 10:32 am on 01 Oct
Tesla is recalling nearly 1.1 million vehicles in US because the window automatic reversal system may not react correctly after detecting an obstruction, increasing risk of injury. Tesla said it would perform an over-the-air software update of the automatic window reversal system. The recall covers some 2017-2022 Model 3, 2020-2021 Model Y and 2021-2022 Model S and Model X vehicles.
short by Anmol Sharma / 02:58 am on 23 Sep
Won't ask for special treatment: Fisker CEO on high Indian import tax
short by Anisha Joneja / on 27 Sep 2022,Tuesday
Fisker Inc, launched in 2016, plans to bring its electric vehicles to the Indian market. CEO Henrik Fisker has said that high import tax is something they have to deal with and won't request special treatment from the government as it applies to everyone. Fisker's competitor Tesla halted its India entry plans after being unable to secure lower import tax.
short by Anisha Joneja / 08:11 pm on 27 Sep
Citroën has unveiled 'Oli', a concept car made with a cardboard roof and a vertical windscreen designed to reduce the amount of glass needed and also the car's overall weight. The cardboard in Oli's roof is a specialised honeycomb format reinforced with plastic coating on each side. Oli is designed to be recyclable and can last at least three generations.
short by Ashley Paul / 07:13 pm on 29 Sep
After Elon Musk revived Twitter deal, Tesla shares fell nearly 2%
short by Srishty Choudhury / on 07 Oct 2022,Friday
After Elon Musk decided to revive his Twitter offer earlier this week, Tesla shares fell by 1.8%. The stock has lost 34% since the Tesla CEO first disclosed a stake in Twitter on April 4. Musk has already offloaded over $15 billion of Twitter's stock this year and according to Bloomberg, he holds 465 million shares as of August 9.
short by Srishty Choudhury / 04:54 pm on 07 Oct
Ferrari on Monday said some of its internal documents had been posted online and that it was working to identify cause of the issue. Ferrari added that it had no evidence of a breach of its systems or of ransomware and that there had been no disruption to its business and operations. We'll implement appropriate actions as needed, Ferrari added.
short by Ashley Paul / 08:33 pm on 03 Oct
Fix for wheel issue that caused electric car recall found: Toyota
short by Srishty Choudhury / on 06 Oct 2022,Thursday
Toyota Motor said it has found a fix for the defect because of which it had to recall several units of its first electric vehicle in June. The carmaker recalled 2,700 bZ4X sports utility crossovers globally due to a risk of wheels coming loose. Toyota said it would ensure hub bolts were replaced and properly tightened in new cars.
short by Srishty Choudhury / 01:46 pm on 06 Oct
TVS Motor gets shareholders' nod for stake sale in Sundaram Holding
short by Dharini Mudgal / on 22 Sep 2022,Thursday
Two and three-wheeler manufacturer TVS Motor has received shareholders' approval for the sale of its entire 50.05% stake in its subsidiary Sundaram Holding USA Inc (SHUI), the company informed the stock exchanges on Thursday. TVS Motor will sell the stake to Sundaram-Clayton Limited (SCL), the holding company. It will reportedly receive ₹317.01 crore from the disposal.
short by Dharini Mudgal / 10:43 pm on 22 Sep
Porsche to make market debut on Thursday, expects to raise €9.4 bn
short by Srishty Choudhury / on 29 Sep 2022,Thursday
Porsche shares will list on Frankfurt Stock Exchange on Thursday after Volkswagen priced shares at the top-end of the announced range of €76.50-€82.50. The carmaker expects to raise around €9.4 billion. The share sale is set to be Germany's second-largest ever IPO and comes at a time when there have been no other share sales because of unstable European markets.
short by Srishty Choudhury / 05:15 pm on 29 Sep
Porsche becomes Europe's most valuable automaker, valued at €85 bn
short by Anisha Joneja / on 06 Oct 2022,Thursday
Porsche overtook parent company Volkswagen to become Europe's most valuable carmaker as its market valuation reached €85 billion. After falling below the listing price on Monday, Porsche's shares rose as investment banks bought 3.8 million shares for €312.8 million as part of the company's greenshoe option. Measures taken to stabilise Porsche's share price were seen as part of the IPO.
short by Anisha Joneja / 07:54 pm on 06 Oct
China's Geely buys 7.6% stake in Aston Martin
short by Aishwarya Awasthi / on 03 Oct 2022,Monday
China-based Zhejiang Geely announced on Friday that it has bought a 7.6% stake in British luxury carmaker Aston Martin. However, the financial details of the deal were not disclosed. Geely's stake is valued at about $74 million, based on Thursday's closing share price. Aston Martin also separately announced the completion of a $732 million capital raise.
short by Aishwarya Awasthi / 02:47 pm on 03 Oct
Increased repo rate big dampener for us: Automobile industry body
short by Ashley Paul / on 02 Oct 2022,Sunday
Federation of Automobile Dealers Associations (FADA) President MR Singhania said hike in repo rate is a "big dampener" for the automobile industry, particularly for price-sensitive entry-level two-wheelers and passenger vehicles segments. RBI on Friday raised repo rate by 50 bps, the fourth straight increase since May 2022. Manufacturers of two-wheelers hiked prices five times in 2021, he added.
short by Ashley Paul / 06:21 pm on 02 Oct
China's Leapmotor to raise $800 mn via Hong Kong IPO: Report
short by Ashley Paul / on 25 Sep 2022,Sunday
Chinese electric vehicle-maker Leapmotor is set to raise $800 million by pricing its shares at about $6.12 each in its Hong Kong IPO, Reuters reported. The firm had earlier aimed to raise $1.03 billion via the IPO but decided to reduce its size based on investors' response. Leapmotor is selling 130.82 million shares in the IPO.
short by Ashley Paul / 04:59 pm on 25 Sep
Vintage cars on display to promote wildlife protection in B'luru
short by Nakul Ahuja / on 06 Oct 2022,Thursday
To create awareness about wildlife week, the Karnataka Forest Department called vintage car and motorcycle owners to promote the idea of preserving things from the past in Bengaluru. The vehicle owners held a rally at the Vidhana Soudha. Wildlife week is observed from October 2 to October 8 to create awareness among people about the importance of wildlife protection.
short by Nakul Ahuja / 04:58 pm on 06 Oct
Vehicle registrations more than doubled in this year's Navratri and Dussehra festivals compared to last year, the Pune Regional Transport Office (RTO) said. From September 26 to October 5 this year, the RTO registered 9,665 vehicles, compared to 4,330 vehicles registered during the festival last year. Of this year's Navratri tally, 5,914 two-wheelers and 2,984 four-wheelers were registered.
short by Indraneel Sen / 06:58 pm on 07 Oct
Tesla to remove more sensors from cars amid autopilot scrutiny
short by Srishty Choudhury / on 05 Oct 2022,Wednesday
As Tesla faces autopilot scrutiny, it will only use cameras in its safety and driver-assistant features and will remove ultrasonic sensors from vehicles starting this month. As of now, Tesla vehicles have 12 ultrasonic sensors on the front and rear bumpers along with short-range sound sensors that are mainly used to detect close objects and while parking.
short by Srishty Choudhury / 10:57 am on 05 Oct
Toyota's Oct-Dec output likely to decline amid chip shortage
short by Purnima Rajput / on 22 Sep 2022,Thursday
Toyota has said it expects to produce about 850,000 vehicles worldwide per month on average from October to December due to semiconductor shortages. Last month, Toyota said it aimed to produce about 900,000 vehicles per month on average from September to November. Toyota has not changed its global vehicle production target for current financial year, keeping it 9.7 million units.
short by Purnima Rajput / 05:15 pm on 22 Sep
International Road Federation (IRF) has urged Road Transport Minister Nitin Gadkari to withdraw the notification making six airbags mandatory in passenger cars from October 2023. IRF said this rule should be made mandatory once 85% of the people start wearing rear seat belts. "Unless people start wearing rear seat belts, the provision of six airbags will become counterproductive," it said.
short by Dharini Mudgal / 09:09 pm on 06 Oct
The government has deferred implementation of EV battery safety norms, which were originally supposed to be implemented from October 1 onwards. The norms will now be implemented in two phases, with the first phase taking effect from December 1 and the second phase taking effect from March 31, 2023. The norms are based on recommendations of expert committee report.
short by Ashley Paul / 10:06 pm on 27 Sep
Tesla Inc said that electric vehicle deliveries in the third quarter were lower than expected and said they were impacted due to logistical challenges. The company delivered a record 3,43,830 EVs, lesser than the 3,59,162 expected, according to Refinitiv. "Historically, our delivery volumes have skewed towards the end of each quarter due to regional batch building of cars," Tesla said.
short by Anisha Joneja / 11:22 pm on 02 Oct
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