Auto Sector

HMSI now sells to 58 markets in Europe, Central and Latin America, the Middle East, Southeast Asia, Japan, Australia, New Zealand, and SAARC countries.

Bajaj Auto also said that commercial vehicle sales had increased, while electric three-wheeler volumes were continuing to expand.

Hero MotoCorp's total sales climbed 5.5% year on year in FY24 to 56.21 lakh units. It stated that it sold 53,28,546 units in 2022-23.

Shashank Srivastava, the current head of the company's marketing and sales division, will join the executive committee on April 1.

The Scheme may help the foreign brand get an entry into the India market. However, if the OEM is unable to meet the listed conditions (investment, timelines, localisation), it would be liable to pay the “customs duty foregone” to the government.

The business also stated that a subsidiary, Hinduja Tech, has inked a formal deal for Creador to spend $50 million to acquire a 19.6% ownership in the company.

An investment totaling ₹3,000 Crore has been finalized for the joint ventures encompassing both CBG and EV projects.

All Tata Motors stakeholders will retain the same exact stake in both listed companies.

Analysts of IIFL Capital Services recently cut their FY24 MHCV growth estimate from 10% to 6%; this may see further cut.

Ola Electric aims to raise ₹5,500 Crore through its IPO, with plans to allocate ₹1,600 Crore for research and development (R&D).