Remove Auto Remove Automobile Industry Remove Cars Remove Global
article thumbnail

Auto sector sourced 50% parts locally, says minister – ET Auto

Baua Electric

However, in FY23 only 1% of the passenger cars sold was electric at 48,000 units, Qureshi said. The Indian automobile sector was able to source almost 50% of required auto parts from domestic markets under the INR 26,000 crore Production-Linked Incentive (PLI) scheme, said Union minister for heavy industries Mahendra Nath Pandey on Tuesday.

Auto 52
article thumbnail

Fast evolving auto industry needs befitting HR solutions | Autocar Professional

Baua Electric

percent against the global average of 2.9 And the automobile industry in India is a significant contributor to the country’s economy. The environment in which the automobile industry operates on statutory norms includes safety requirements, environmental regulations, labour laws, and trade policies.

article thumbnail

CEO’s Take On 2024: Demand for feature-rich, safe, connected and electric vehicles to drive auto parts industry, says Bosch India chief – ET Auto

Baua Electric

Guruprasad Mudlapur, President- India, Bosch Group, and Managing Director, Bosch Limited Edited excerpts: Q: After two consecutive years of swift growth in the auto component industry’s performance, what is your outlook for 2024? The Indian economy has demonstrated remarkable resilience in the face of shifting global dynamics.

India 52
article thumbnail

China’s CALB wants lithium battery factory in Portugal – ET Auto

Baua Electric

Portugal has the largest reserves in Europe of lithium, the main element in the batteries that power electric cars. It will “serve the strong customer demand, mainly in the automobile industry,” APA said on its website. A public consultation on the project is due to run until the end of February.

article thumbnail

Toyota keeps world’s top-selling automaker crown in 2023, sells 1.12 crore cars

Baua Electric

Read more Toyota held the pole position in global passenger vehicle sales hart in 2023, while BYD grabbed the top spot in global electric car sales pushing Tesla to second position. crore units of passenger vehicles globally in 2023, keeping the top-selling automaker crown to itself. lakh units. lakh units.

Toyota 52
article thumbnail

New milestone in 2023: What drove India to record over 41 lakh car sales

Baua Electric

REUTERS) The just concluded year 2023 was a cheerful one for the Indian auto industry, as the car manufacturers in the country breached the four million mark for the first time. the Indian automobile industry has been showing great resilience. Registering 41 lakh cars in a calendar year in 2023 was a sign of that.

India 52
article thumbnail

Rivian, Kia, and Mercedes see huge jump in new car registrations – a sign of what’s to come?

Baua Electric

S&P Global Mobility released its latest round of US data on new EV registrations for November 2023, and some surprising new trends are popping up – with very modest gains by Tesla and Ford, compared to bigger moves from smaller EV players Rivian and Kia, as well as luxury EVs from Mercedes and BMW. share of the EV segment that month.

Kia 52