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

Baua Electric

EV sales in India were growing by a compounded annual growth rate of 49%. 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.

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Renault and Brilliance sign strategic cooperation agreement with Liaoning province, China; 3 new electric LCVs in 2 years

Green Car Congress

Year-to-date since forming the joint venture, Jinbei brand sales hit 124,900 in September. Liaoning Province is one of China’s new automobile industrial hubs with more than 120 auto & auto-parts manufacturers and is the largest provincial economy of Northeast China. Renault-Brilliance-Jinbei Automotive Co.,

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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

A high sales base in 2023, upcoming elections, and ongoing global uncertainties like the Red Sea crisis, the conflict in West Asia, the Russia Ukraine war and the generally depressed advanced economies are all contributing to this year’s anticipated moderate growth.

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GAC Group begins construction of $6.5B industrial park for electric and intelligent vehicles

Green Car Congress

China-based automobile manufacturer Guangzhou Automobile Group (GAC Group), the parent company of GAC Motor, has begun construction of a large industrial park for electric and intelligent vehicles as part of its efforts to boost its electric vehicle business. More than 45 billion yuan (US$6.5

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Toyota to launch two new plug-in hybrid models in China; Corolla and Levin

Green Car Congress

Levin Hybrid (left) and Corolla Hybrid (right) introduced at the 16th Shanghai International Automobile Industry Exhibition in 2015. Following this major commitment, Toyota established two local manufacturers of hybrid powertrain components, Toyota Motor (Changshu) Auto Parts Co., Click to enlarge. New turbo engine.

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Europe’s biggest EV market is about to hit a perfect storm of problems

Baua Electric

But now that is expected to change course, as EV sales are projected to drop – by 14% – for the first time in eight years. Add nflation, rising car prices, and “sub-par charging infrastructure,” writes Automotive News Europe, into the mix, and it’s inevitable that sales will drop. million this year. million cars, compared to the 78.8

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

Baua Electric

Mercedes-Benz , for its part, saw a 160% rise in new-vehicle registrations in November with 3,688 vehicles, for a 4.1% The automobile industry is a slow-moving beast. Ford, too, is slashing its EV production this year, which could cut into its sales, and Chevrolet is discontinuing its most popular EV, the Bolt , until 2025.

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