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Category: Automotive

Retail News Asia is committed to providing both local and global retailers with the latest Auto and Car news throughout the Asian market. This on a daily base.

  • Mercedes-Benz India Has No Plans To Launch The EQS Or Any Other EV This Year

    Mercedes-Benz India Has No Plans To Launch The EQS Or Any Other EV This Year

    Despite the challenges caused by the second wave of the COVID-19 pandemic, Mercedes-Benz India has been among the select few carmakers that have stayed on course with regard to product launches. The Stuttgart-based luxury carmaker has confirmed that it will launch 15 new models in India this year, however, that will not include any electric vehicles. When asked about the launch timeline for the EQS, during the post-launch interaction for the Maybach GLS 600, Santosh Iyer, VP – Sales & Marketing, Mercedes-Benz India confirmed that the company has no plans to launch the EQS or any other EV at least for next one year.

    Talking about the company’s product plan with regards to the EQS and other electric vehicles, Iyer said, “The EV portfolio for Mercedes-Benz is strong. You already saw the EQA, the EQB, there are many products that are getting launched. So, we’ll pick up the right products and definitely, surely introduce them in India. But, for now, the EQC remains our key driver when it comes to the volumes here. Again, we are struggling with the availability of EQC so no point in again launching more EVs and putting some confusion in the market at this stage. Also, EQS is available for sale only in the last part of the year, even worldwide. So, nothing in the next one year at least as far as the EQS or anything else goes.”

    Iyer pointed out that a lot of these electric vehicles introduced globally are high on demand worldwide, and they will make it other markets gradually. Assuring that India is a priority market for the brand, he said that there is no point in launching a product and not being able to cater to the demand. Right now, it’s even struggling with the demand for the EQC. So, before bringing a high-value product like the EQS electric sedan, the carmaker wants to get some volume and certain clarity.

    Having said that, Mercedes-Benz India has already listed its flagship electric vehicle – the EQS on its official website. When asked what that means for the Indian market, Iyer said, “For us electric is not an option. It is something that the automotive industry will transform, and we take pride that in India we were the first to start, and we’ll now continue to bring in new products. As regards that EQS, I think that a statement in terms of our brand, in terms of our commitment to electric.” He further added, “I think the EQS transforms, it makes a paradigm shift into the technology scape, into the luxury space apart from being a very good EV in terms of driving, in terms of battery charging, and some of the other dynamics. So, it was natural for us when there is a global unveil of such a product, which is now our flagship when it comes to the EV story to be there on our website.”

    The Mercedes-Benz EQS is the company’s flagship electric vehicle, and it was just in April 2021 that the sedan version of the EV made its debut. Mercedes also plans to introduce an SUV version of the EQS, which is likely to make its global debut in late 2022. The EQS sedan comes with a 107.8 kWh Lithium-Ion battery, promising a 770 km WLTP cycle certified drive range on a full charge. However, the carmaker has not provided detailed variant-wise range options. The car comes with a standard onboard charger of 11 kW with an optional 22 kW charger. The EQS can be charged from 10 to 80 percent in 35 minutes using a 110 kW DC fast charging, while a 240-volt household wall charger will take 11 hours for the same range.

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  • Royal Enfield To Launch Most Number Of Models In FY 2022

    Royal Enfield To Launch Most Number Of Models In FY 2022

    Royal Enfield is getting ready to launch the most number of new motorcycle models this year than ever before, and several models are planned during the current financial year. As Royal Enfield looks to strengthen its grip on the mid-size motorcycle segment, not just in India, but across the world, the company is looking to introduce several new models in FY 2022. Royal Enfield’s Classic 350 is the brand’s highest-selling model, and the company is getting ready to launch a new model of the Classic 350, based on the new Meteor 350 platform, with an all-new 350 cc engine and double-cradle frame.

    During a recent conference call with analysts, Royal Enfield CEO Vinod Dasari said, “We have a very exciting pipeline. This year will probably see the highest number of new models that is seen from Royal Enfield in a year. And that is just the beginning of the pipeline.”

    Over the past few months, Royal Enfield launched the all-new Meteor 350, built on a new 350 cc platform, and launched the updated Himalayan, apart from introducing new colors on the 650 Twins, the Interceptor 650, and the Continental GT 650. While Dasari did not elaborate on the new models that Royal Enfield will be launching during this financial year, the new Classic 350, and a 650 cc cruiser are expected to be introduced.

    “We will continue to have one new model every quarter. Because there is a delay due to COVID right now, I don’t think we will squeeze everything in but there are some very big models coming in. We are very excited about it. We will have to do all the marketing and market preparedness for that,” Dasari added.

    Royal Enfield has also trademarked several new names, like Hunter, Sherpa, Roadster, as well as Shotgun and Scram more recently. Two new cruiser models on the 650 Twins platform are expected to be introduced, while the 350 cc J-Platform of the Meteor 350 could also see a retro roadster, called the Hunter 350, apart from the new Classic 350. The Scram name could be for a production scrambler based on the 650 cc platform, while the Sherpa could be a new, lighter adventure model based on the Himalayan.

  • Michelin To Hike Tyre Prices In India, Africa And Middle East

    Michelin To Hike Tyre Prices In India, Africa And Middle East

    Michelin today announced that it will be hiking tire prices in India, Africa & the Middle East region. The increase in price is effective from June 18 in India and July 1 for the Middle East region and is applicable to all Michelin Group brands. This is the second price hike this year by Michelin as the first one was made very recently in March 2021, where tire prices were hiked by 8 percent.

    In a statement by the company, it said, that it will increase its tyre prices by up to 6 per cent on passenger car, light truck and motorcycle tyres as well as up to 8 per cent on both on- and off-road commercial tyre. The hike in price has been attributed to the increase of raw material cost, global transportation cost and prevailing market dynamics

    Price changes may vary across specific products within each brand portfolio.

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  • Apple In Talks With CATL And BYD For Batteries

    Apple In Talks With CATL And BYD For Batteries

    The Apple Car project or as it is called internally at Cupertino – Project Titan has been in the works for now 7 years. But in the last year, work on it has progressed and Apple has been actively courting potential suppliers, but this process has been a struggle. Now a fresh report comes via Reuters, which claims that the Cupertino-based giant is courting Chinese battery maker CATL which has become the world’s largest supplier of EV batteries. In addition to this, Apple is also engaging BYD which is the fourth largest manufacturer of batteries. The Cupertino-based company is said to be in the early stage of discussions with the Chinese majors.

    Reportedly, Apple has moved so far ahead that it has started making battery factories but it needs suppliers to run them -this is similar to how Tesla has Panasonic running a big chunk of the Nevada Gigafactory. Apple is working on lithium-ion phosphate batteries that are cheaper to produce because they use iron instead of nickel and cobalt. It has also been working on self-driving technology and has targeted 2024 as the production year for the Apple Car.

    Apple has been developing its own battery technology but it is not known if these discussions involve CATL or BYD using Apple’s battery designs. Likely, this will be the case as that’s how Apple has historically operated and this is becoming a common practice in the EV space with Tesla also adopting such tactics with its custom battery chemistry.

    President Joe Biden has proposed a $174 billion budget for attracting EV manufacturers in the US. Apple wants to cash in on this. Many battery makers are also ramping up production in the US thanks to the incentives being offered by the newly minted Biden government, reversing the anti-environment trend of the Trump government.

    China’s rise as the world’s biggest EV market has also given a boost to its local suppliers which have elevated players like CATL and BYD. Apple previously was also in talks with LG Chem, so there is a possibility that it will use a combination of Chinese manufacturers and South Korean manufactures. In China, the government has given subsidies to companies like CATL which makes it an ideal partner especially if a facility is to be set up in China.

    Apple has been in talks with Foxconn and even traditional companies like Magna for manufacturing the car. It could also use BYD as a manufacturing partner for the Apple Car. Apple will likely need a mix of different players to make the Apple Car project come to life.

  • Bosch Opens German Chip Plant

    Bosch Opens German Chip Plant

    Robert Bosch opened a 1 billion euro ($1.2 billion) chip plant in Germany on Monday, a record investment by the leading automotive supplier as it stakes a claim to equipping the latest electric and self-driving cars. The plant, located in a semiconductor hub near Dresden, opens as the automotive industry battles a global chip shortage, and will increase Bosch’s ability to serve carmakers directly, relying less on third-party manufacturers.

    “Every chip that we make here in Dresden is one chip less that is lacking. That helps,” management board member Harald Kroeger told Reuters in an interview.

    Addressing an online opening ceremony, Chancellor Angela Merkel said semiconductor shortages were hampering Germany’s economic recovery, and that it was important to strengthen resilience against external supply disruptions.

    “We aren’t in pole position – we have to catch up,” Merkel said. “We must be ambitious. Our competitors around the world aren’t sleeping.”

    The Bosch plant will make specialist power-management chips and Application Specific Integrated Circuits (ASICs) that are designed to carry out a single task, such as triggering a car’s automatic braking system.

    It will not however address shortages of products like microcontrollers which have forced automakers to halt production and are expected by industry leaders and analysts to extend into next year.

    “The fab (chip fabrication plant) may help to insulate Bosch and its key customers somewhat,” said Asif Anwar at Strategy Analytics. “But it is unlikely to serve as a gap filler to the current shortages being experienced in the automotive market.”

    The Bosch plant, which received 200 million euros ($243 million) in state aid under a European Union investment scheme, will start making chips for power tools in July, with output of automotive chips to follow from September.

    “The state-of-the-art technology in Bosch’s new semiconductor factory in Dresden shows what outstanding results can be achieved when industry and government join forces,” said European Commission Vice-President Margrethe Vestager.

    Kroeger said Bosch supported a broader strategic push by Brussels to revive Europe’s semiconductor industry. A recently unveiled plan targets doubling the region’s share of global chip production to 20% by 2030.

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  • Lamborghini Huracan Evo RWD Spyder India Launch Date Revealed

    Lamborghini Huracan Evo RWD Spyder India Launch Date Revealed

    The Lamborghini Huracan Evo RWD Spyder went on sale globally last year and is all set to hit our market on June 8, 2021. The car is powered by the same 5.2 litre V10 motor from the coupe version. It’s also the same engine that powers the regular Huracan but Lamborghini has upgraded the engine with bits like titanium valves, revised intake, and lighter exhaust. This enables the car to churn out a whopping 602 bhp and 560 Nm of peak torque although it is about 28 bhp and 40 Nm lesser than the AWD version. The engine comes mated to a seven-speed dual-clutch transmission then sends power to the rear wheels.

    Despite power and torque figures being almost identical to the RWD Coupe, the Spyder is marginally slower taking 3.5 seconds to clock triple-digit speeds, which is 0.2 seconds slower than the RWD Coupe. Then, it can clock a top speed of 324 kmph while the coupe does 325 kmph for the coupe, which is a minor difference. The Huracan also gets Lamborghini’s Aerodinamica Lamborghini Attiva, a new active aerodynamic tech allowing the car to switch between maximum downforce and low drag setups by adjusting flaps at the front and rear. This helps the car to create maximum vertical downforce. Lamborghini also says that it has specially tuned the car’s Performance Traction Control System for potent torque delivery and traction to maintain maximum agility even around corners. The carmaker claims that dynamic performance will be identical to that of the RWD Coupe.

    Now speaking about its looks, the RWD Spyder gets similar updates we already saw the RWD Coupe which also bagged our sports car of the year award. It gets a new front splitter, bespoke rear diffuser, and a new rear bumper. Compared to the RWD Coupe, the Spyder is about 120 kg heavier due to the structural updates and the mechanism for the folding soft-top roof. It takes 17 seconds to operate the roof and at speeds of up to 50 kmph. The car also sports a rear windscreen that can be raised and lowered individually.

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  • Volvo Cars India To Set Up Digital Technology Hub In Bengaluru

    Volvo Cars India To Set Up Digital Technology Hub In Bengaluru

    Volvo Car India announced that it is expanding its Digital Technology Hub at Bangalore which will help strengthen its digital presence in India. The company has appointed Jonas Olsson as the Head of Digital Technology Hub with effect from June, 1 2021. Olsson comes from Volvo Group India, where he was HR Director Region APAC, and was part of the Group IT Leadership Team. His experience with Volvo Group IT spans over 20 years, with the past 15 years in India, and he has played an instrumental role in leading the set-up of Volvo Group’s IT-delivery center in Bengaluru.

    Volvo Cars India seeks to leverage on the talent available in the country, by being an attractive and inclusive employer and offering the value proposition to contribute to the organization’s journey of creating the cars of tomorrow.

    Jyoti Malhotra, Managing Director, Volvo Car India said, “Olsson’s rich experience will value add and strengthen Volvo Car India’s core strategy of going digital in all its customer offerings in the future. We welcome him in his new assignment and are confident that he will play a key role in strengthening our digital footprint in India”

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  • Mercedes-Benz Introduces ‘Direct To Customer’ Retail Sales Model In India

    Mercedes-Benz Introduces ‘Direct To Customer’ Retail Sales Model In India

    Mercedes-Benz India today introduced its new retail sales model called ‘Retail of the Future’ (ROTF). With this new model, the company plans to promote a ‘direct to customer’ retail approach to creating a more customer-centric brand. To the effect, under this business model, Mercedes-Benz India will own the entire stock of cars, sell them via appointed Franchise Partners, invoice the new cars to the customers directly, process the order, and fulfill them. This would also mean that the company will offer one transparent price across India. The new retail model will be applicable only for new car sales, whereas other verticals like – customer service, pre-owned cars, and allied businesses will remain unchanged.

    Talking about the introduction of the new retail sales model, Martin Schwenk, MD & CEO, Mercedes-Benz India said, “This long-term strategic move will strengthen our customer focus by introducing a fundamental transition in the retail business in the market. It also will deliver a win-win solution for both customers and Franchise Partners, underscoring our clear vision for a future that is sustainable, empowering and digital. The advent of new sales channels has brought sweeping changes in customers’ aspirations and requirements and being a customer-obsessed brand, we have adapted our current business models to meet our customers’ aspirations and needs.”

    Commenting on Mercedes-Benz India’s new retail model, Vinkesh Gulati, President, FADA India said, “The agency model introduced by Mercedes India will be an out-of-the-box thinking by the company. Even though the model has tested waters internationally, India is a unique market where customer physic is very different as they change Dealers and even brands on any additional discount. Even though on the face of it, this model looks beneficial for the dealer community dealing in Premium Brands with low Volume but we will need to see if this model can work with mass-market brands so that every dealer can benefit from it.”

    Now, for customers, this might not be a big change. They will still have to visit the showroom or go online to purchase the vehicle, and, they will continue to the facilitated by the franchise representatives. What will change, however, is they’ll get uniform and transparent pricing, larger stock availability for choosing, and better customers service as that will become the major focus areas for dealerships. However, things will be widely different for franchise partners, the dealers, who will be operating on reduced risks and liabilities right now. A direct-to-customer retail model would mean they won’t have to worry about inventory cost, warehousing of the stockpile, which is added cost to dealers right now.

    However, this also means that dealers won’t be able to offer selective discounts or deals to attract buyers to compete with other dealers and gain more margin. Instead, now, in order to compete with other franchise partners, dealers will have to offer improved customer service, which will be measured based on what the company calls the CSI rating. In short, dealers will get commissions instead of sales margin.

    As for Mercedes-Benz India, it will be responsible for centrally managing the selling price of all new cars. The company will also be owning and managing the entire stock of new cars and will have to take care of order processing and fulfillment. This means the company will stop wholesale despatches to dealers. The company says that this new retail model will allow Mercedes-Benz to have better control over volume scalability and achieve price stability within segments. The company will also get improved forecasting with regards to the market trends and customer insight, along with better inventory management.

    Mercedes-Benz India will implement its new Retail of the Future sales model starting from the fourth quarter (Q4) of the 2021 calendar year.

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  • Tesla To Buy More Than $1 Billion Of Australian Battery Minerals A Year

    Tesla To Buy More Than $1 Billion Of Australian Battery Minerals A Year

    Tesla said it expects to spend more than $1 billion a year on battery raw materials from Australia given the country’s reliable mining industry and responsible production practices. Robyn Denholm, chair of the U.S. carmaker, said on Wednesday that Australia, which is rich in minerals used for batteries like lithium and nickel, is poised to benefit as developing supply chains for electric vehicle batteries and the green energy age focus on environmental, social and governance (ESG).

    “We expect our spend on Australian minerals to increase to more than $1 billion per annum for the next few years,” Denholm, an Australian, told a Minerals Council of Australia event.

    Tesla already sources three-quarters of its lithium feedstock from Australia and over a third of its nickel, Denham said, without specifying a dollar figure.

    “Australian mining companies do have a good reputation, great expertise, professionalism and are preferred by manufacturers increasingly concerned about meeting both today’s and the future’s ESG requirements,” she said in Canberra.

    The comments are in line with a new policy underway by U.S. President Joe Biden’s Administration to rely on allies to supply of the bulk of the metals needed to build electric vehicles.

    The U.S. will then focus on processing those metals domestically into battery parts, part of a strategy designed to placate environmentalists, two administration officials with direct knowledge told Reuters last month.

    Australia, alongside Canada and Brazil, are among the countries expected to benefit.

    Australia’s exports of hard rock lithium known as spodumene are expected to hit A$1 billion ($773 million) this year while its nickel exports are expected to be valued at A$4 billion, government figures show.

    Tesla also supplies batteries to Australia to store energy captured from rooftop solar panels which shore up reliability in its energy network. Australia has the world’s highest per-capita density of rooftop solar panels.

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  • Tesla Recalls Nearly 6,000 U.S. Cars Over Potentially Loose Bolts

    Tesla Recalls Nearly 6,000 U.S. Cars Over Potentially Loose Bolts

    Tesla Inc is recalling nearly 6,000 U.S. vehicles because brake caliper bolts could be loose, with the potential to cause a loss of tire pressure, documents made public on Wednesday show.

    The recall covers certain 2019-2021 Model 3 vehicles and 2020-2021 Model Y vehicles. Tesla’s filing with the National Highway Traffic Safety Administration (NHTSA) said it had no reports of crashes or injuries related to the issue and that the company will inspect and tighten, or replace, the caliper bolts as necessary.

    Tesla said that loose caliper bolts could allow the brake caliper to separate and contact the wheel rim, which could cause a loss of tire pressure in “very rare circumstances.” The company said that in the “unlikely event” there is vehicle damage from a loose or missing fastener, it will arrange for a tow to the nearest service center for repair.

    The filing with NHTSA said Tesla was made aware in December of a field incident involving a 2021 Model Y vehicle with a missing fastener on the driver-side rear brake caliper.

    The company has since taken measures to prevent the loosening of the bolts in the assembly process

  • Rimac Nevera Electric Hypercar Unveiled

    Rimac Nevera Electric Hypercar Unveiled

    After a long wait, Rimac Automobili has finally unveiled the Nevera, an all-electric, hypercar that has been designed and engineered to surpass anyone’s expectation of an electric car. The Nevera is the production-ready iteration of the Rimac C_Two concept car, which was revealed at the International Geneva Motor Show in 2018. Since then, Rimac’s engineers have refined the new flagship car. The Nevera was developed in-house at Rimac’s headquarters in Croatia and only 150 examples of the car will be made.

    Underlining his own commitment to the project, Mate Rimac will personally test and sign off each of the Neveras, before they are delivered to customers from the company’s current production site on the outskirts of Zagreb, Croatia.

    Nevera’s monocoque construction includes a bonded carbon roof, integrated structural battery pack, and rear carbon subframe, is forming the largest single carbon fibre piece in the entire automotive industry. Weighing less than 200 kg and utilizing 2200 carbon fibre plys and 222 aluminum inserts, the monocoque encases the car’s battery to form a compact yet incredibly strong structure with a torsional stiffness of 70.000 Nm/degree.

    The unique H-shaped, liquid-cooled, 120kWh, 6960-cell battery was designed from scratch by Rimac and sits at the heart of the Nevera. Capable of producing 1.4MW of power, the Lithium/Manganese/Nickel battery also forms an integral part of the car’s core, adding 37 percent structural stiffness to the carbon fibre monocoque. The battery’s optimum positioning low and central within the car’s floor contributes to an ultra-low centre of gravity. This helps create a 48/52 front/rear weight distribution.

    Four bespoke surface-mounted permanent magnet motors drive the Nevera’s four wheels individually. Together, they enable 1914 horsepower and 2360 Nm of torque, which is triple the output of a ‘conventional-engined’ supercar. The front and rear wheels are each connected to a pair of single-speed gearboxes.

    With the ability to sprint to 96.5 kmph in 1.85 seconds and continue the acceleration all the way to a 412 kmph which is its top speed, the Nevera opens up a new dimension in hypercar performance. Accelerating from rest to 161 kmph requires just 4.3 seconds and it maintains acceleration throughout a full-throttle cycle, achieving 300 kmph from rest in 9.3 seconds, shredding a whole 2.5 seconds from the initial targets.

    Rimac’s All-Wheel Torque Vectoring 2 (R-AWTV 2) system replaces traditional Electronic Stability Program and Traction Control systems to further bolster grip and traction. Meanwhile, the Nevera’s R-AWTV 2 system enables infinitely variable dynamic responses to road and track conditions by calibrating the amount of torque supplied to each wheel. R-AWTV 2 calculates the precise level of torque to channel through each wheel for ultimate stability and exceptional agility. Both predictive and responsive, R-AWTV reads the road and makes over 100 calculations per second to tailor the level of torque to achieve the desired driving style.

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  • Hyundai To Slash Combustion Engine Line-Up, Invest In EVs

    Hyundai To Slash Combustion Engine Line-Up, Invest In EVs

    Hyundai Motor Group will slash the number of combustion engine models in its line-up to free up resources to invest in electric vehicles (EVs), two people close to the South Korean automaker told Reuters. The move will result in a 50% reduction in models powered by fossil fuels, one of the people said, adding the strategy was approved by top management in March. “It is an important business move, which first and foremost allows the release of R&D resources to focus on the rest: electric motors, batteries, fuel cells,” the person said, without giving a timeframe for the plan.

    While Hyundai did not specifically address a Reuters query on its plans for combustion engine models, it said in an email on Thursday that it was accelerating the adoption of eco-friendly vehicles such as hydrogen fuel cell vehicles and battery EVs. The automaker added that it aims to gradually expand battery EV offerings in key markets such as the United States, Europe, and China with a goal for full electrification by 2040.

    Hyundai Motor Group, which houses Hyundai Motor Co and Kia Corp and Genesis, aims to sell about one million EVs per year by 2025 to achieve a 10% share of the global EV market. Facing tightening CO2 emission targets in Europe and China, all major automakers are accelerating their shift to EVs. The huge cost of developing electric motors and increasing the driving range of car batteries has already led some to say their days of investing in conventional engines are over. “Hyundai has stopped developing new powertrains for internal combustion engine cars,” one of the people said.

    PSA Group said in November, shortly before merging with Fiat Chrysler to form Stellantis, that it was no longer investing in combustion engines. Daimler has recently revamped its combustion engines and executives say the new generation will see it through the electrification process. Some carmakers have already announced plans to go fully electric, with Sweden’s Volvo, which is owned by China’s Geely, saying it would do that by 2030. Ford Motor Co says its line-up in Europe will be fully electric by the same date.

    For Hyundai, which together with Kia is one of the world’s top ten auto groups, the move is particularly important because it has one of the broadest ranges of engine and transmission technologies in the industry. The group will finalize its strategy to switch to all-electric models within the next six months, one source said. In April, Hyundai said it would cut the number of its gasoline models in China to 14 from 21 by 2025, while launching new electric models every year starting in 2022. In February, the group said it was no longer in talks with Apple to develop an autonomous vehicle. Sources familiar with the matter said the idea of the group becoming a contract manufacturer for Apple encountered strong internal opposition.

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  • Royal Enfield’s Parent Company Eicher Motors’ Net Profit Skids In FY2021

    Royal Enfield’s Parent Company Eicher Motors’ Net Profit Skids In FY2021

    Eicher Motors Limited (EML), the parent company of iconic motorcycle brand Royal Enfield has announced its consolidated financial results for the quarter and for the financial year ended March 31, 2021. For FY 2020-21, Eicher Motors’ total revenue from operations down by 5 percent to ₹ 8,720 crore, compared to ₹ 9,154 crore recorded for FY 2019-20. Net profit for the period was recorded at ₹ 1,347 crore, down 26 percent as compared to ₹ 1,827 crore for the same period last year. Royal Enfield sold 6,09,403 motorcycles during the year, down 13 percent from 6,97,582 motorcycles sold in FY 2019-20.

    For the quarter ended March 2021, Eicher Motors’ total revenue from operations was at an all-time high at ₹ 2,940 crore, up 33 percent, compared to ₹ 2,208 crores in the same quarter a year ago. Net profit in Q4 of FY 2020-21 was ₹ 526 crore, up 73 percent, compared to ₹ 304 crore during the same period last year. From January to March, 2021, Royal Enfield sold 2,03,343 motorcycles, an increase of 25 percent from 1,63,083 motorcycles sold over the same period in FY 2019-20.

    Commenting on Eicher Motors’ performance, Siddhartha Lal, Managing Director of Eicher Motors Ltd., said, “It has been a challenging year for the industry with the COVID-19 pandemic leading to disruption in production, supply chain, and retail operations. We remained agile and responded swiftly by reworking our immediate priorities and providing relief to communities as well as ensuring the safety and well-being of our employees, partners, and customers. During the year, there were challenges also on account of factors such as supply chain constraints and commodity price increase. However, demand continues to be good.

    “Royal Enfield witnessed very good pick up in the second half of the year, and registered a strong performance in Q4. We have seen encouraging demand coming from rural as well as urban segments. The launch of the Meteor has been well received by consumers and has witnessed excellent response. We have also been able to significantly increase our retail market presence in India and globally through this year. The commercial vehicle industry also showed equal resilience and saw good recovery in the latter half of the year. VECV gained market share across segments. In the heavy-duty segment, VECV volume grew by 6% in FY21 compared to last year against a decline of 21% in industry volume. Overall, both at Royal Enfield and at VECV, we have managed to tide over a tough year, and despite imminent challenges that persist, we remain steadfast on our strategic long term goals.”

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  • Ford Boosts EV Spending, Aims To Have 40% Of Volume All-Electric By 2030

    Ford Boosts EV Spending, Aims To Have 40% Of Volume All-Electric By 2030

    Ford Motor Co on Wednesday outlined plans to boost spending on its electrification efforts by more than a third and said it aims to have 40% of its global volume be all-electric by 2030 in a move to have investors value it more like a technology company.

    Under a plan dubbed “Ford+,” the No. 2 U.S. automaker said it now expects to spend more than $30 billion on electrification, including battery development, by 2030, up from its prior target of $22 billion. It has launched the all-electric Mustang Mach-E crossover and plans to introduce electric versions of the Transit van and F-150 pickup.

    In premarket trading, Ford shares were up about 2%.

    “This is our biggest opportunity for growth and value creation since Henry Ford started to scale the Model T,” Ford Chief Executive Jim Farley said in a statement.

    Ford plans to develop two dedicated EV platforms, one for full-size trucks and SUVs, the other for cars and smaller SUVs.

    Ford and other global automakers are racing to shift their gasoline-powered lineups to all-electric power under pressure from regions like Europe and China to cut vehicle emissions. U.S. President Joe Biden has called for $174 billion to boost U.S. EV production, sales and infrastructure.

    Ford rival General Motors Co has said it aspires to halt U.S. sales of gasoline-powered passenger vehicles by 2035. The Detroit automaker said last year it was investing $27 billion in electric and autonomous vehicles over the next five years.

    Some analysts see Ford as trailing its rivals in the electrification race, but Ford officials disagree with that view, pointing to the Mach-E rollout and its other plans.

    Ahead of an investor meeting, Ford said it expects to deliver an 8% operating margin in 2023.

    The Dearborn, Michigan-based company also said it is forming a new unit, called Ford Pro, to focus exclusively on commercial and government customers, a segment Farley sees as a huge growth opportunity for the company.

    The company is targeting increasing revenue for the commercial market for hardware and related services addressable by Ford to $45 billion by 2025, up from $27 billion in 2019.

    Ford said it will also aim to develop EV batteries, from lithium-ion versions to lithium-ion phosphate for commercial vehicles and eventually low-cost solid-state batteries in partnership with startup Solid Power, in which the automaker has invested.

    Last week, the automaker announced a memorandum of understanding to form a battery joint venture with South Korea’s SK Innovation, to make battery cells at two U.S. plants.

    Ford also said it expects to have 1 million vehicles capable of receiving over-the-air software updates on the road by the end of the year, and scaling that to 33 million by 2028.

    It sees the overall market for connected functions like driver-assist technologies, new features and upgraded software content, and EV charging hitting a projected $20 billion by 2030.

    Sources previously told Reuters Ford plans to develop two dedicated EV platforms, one for full-size trucks and SUVs, the other for cars and smaller SUVs.

    The sources said Ford is planning to launch at least nine all-electric cars and car-based SUVs and at least three electric trucks, vans and larger SUVs, including second-generation editions of the Ford F-150 Lightning and Mach-E at mid-decade.

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  • Pitstop To Offer Doorstep Service For Electric Vehicles

    Pitstop To Offer Doorstep Service For Electric Vehicles

    Bengaluru-based car repair and service provider, Pitstop recently announced its foray into electric vehicle servicing. Quoting Mckinsey’s future of mobility report, Pitstop says that there is a growing demand for electric vehicles in India, especially electric two-wheelers, and the company seeks to provide EV servicing facilities at the customer’s doorstep for both two-wheelers and four-wheelers.

    Talking about the services the Pitstop aims to provide, the company’s Founder and CEO, Mihir Mohan said, “With the exception of body repair or modifications that include lifting, 80 to 85 percent of two-wheeler operation can be completed at the client’s doorstep.”

    Pitstop was started in 2015 began as a car washing company, however, now the company has become a multi-branded car servicing company with over 250 garages across India. The company says that by 2030, sales of two-wheeled electric vehicles are predicted to reach 8 to 9 million accounting for about 35 to 40 percent of all two-wheeled vehicles sold.

    Pitstop says that while more and more electric vehicles and charging infrastructures are coming up, the EV service market is still largely untapped and there is a lack of service network for repair. And that the area the company aims to focus on.

    Pitstop says that it has developed the ability to automate diagnosis with the use of sensors and scanners, and now, it is completely equipped to support electric vehicles. To that effect, the company aims to formalize and professionalize India’s $ 7 billion four-wheel-drive service industry.

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