CCI imposes ₹1,788 cr penalty on Apollo, MRF and other tyre manufacturers

The Competition Commission of India (CCI) said today that the Supreme Court has dismissed a petition filed by tyre companies wherein they had challenged the regulator's order to impose penalties of more than Rs 1,788 crore on them for indulging cartelisation. CCI has imposed penalties of Rs 42...

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Union Budget 2022 – Effects and implications on the auto sector

Honorable Finance Minister Nirmala Sitharaman has presented the Union Budget 2022 and there weren't many key announcements nor much relief for the reeling auto sector. However, certain announcements are expected to have a direct or indirect impact on the auto industry. The govement continues to focu...

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Maruti Suzuki to make Sonipat unit its largest production base in India

Maruti Suzuki, the country's largest carmaker, will commence work on its new manufacturing facility in Sonipat, Haryana. It could emerge as Maruti's largest production base in India. Maruti Suzuki president RC Bhargava told that construction work will begin soon on the unit, which will be commissio...

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Reasons Why SUV Sales Are Booming In India - Autonexa

The automobile industry is witnessing a surge in sales globally after hitting a low during the pandemic. Slowly yet gradually, the industry is coming back on its feet. With this increase in sales, a certain trend has emerged as well. It has been determined that the sales of SUVs have been recorded ...

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CredR to invest $15 million to expand used two-wheeler business

Used two-wheeler buying and selling platform CredR on Wednesday said it will invest $15 million (around Rs 110 crore) in 2022-23 to expand its business. CredR said in a statement that the Bengaluru-based firm plans to open 50 CredR showrooms in FY22-23 and more than 100 showrooms by 2024. Commentin...

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Ford records $8.2 bln fourth-quarter gain from Rivian investment

Rivian had soared as much as 53% to top $100 billion in the biggest IPO of 2021, but shares of the company have fallen more than 27% since then. Ford Motor Co. said Tuesday that its fourth-quarter results will include an $8.2 billion gain on its investment in Rivian Automotive Inc after the market-...

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Hero MotoCorp rallies 5% on Rs 420 crore investment in Ather Energy

Shares of Hero MotoCorp (HMCL) gained 5 percent at Rs 2,703.50 on BSE in Monday’s intraday trade after the world's largest manufacturer of motorcycles and scooters announced a new Rs 420 crore investment in Ather Energy. Ather, an existing associate of HMCL, is engaged in the business of desi...

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Tesla in India: These states invite Elon Musk to set up EV manufacturing plants in India

Elon Musk continued to receive splashy offers from a couple of Indian state govements after he put out a tweet suggesting the challenges in getting a permit in India for Tesla electric vehicles. On Thursday (January 13) last week, Elon Musk tweeted that he is still working on many challenges with th...

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Musk shares update on Tesla launch in India, says facing challenges

Tesla CEO Elon Musk said on Thursday that the electric vehicle maker is facing "a lot of challenges" in launching its vehicle in India. "Continues to work on many challenges with the govement," Musk tweeted. Musk was replying to a Twitter user, who asked, "Yo @elonmusk, any furher updates on when ...

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