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Govt extends tenure of automobile, component PLI scheme by 1 year to FY28
The government today said it has amended the production-linked incentive scheme for automobile and auto components to extend the scheme’s tenure by one year to March 31, 2028. The Rs 25,938 crore output-linked incentive scheme aims to boost domestic manufacturing of advanced automotive technology products and attract investments in the automotive manufacturing value chain. Initially,…
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IPO-bound Ola Electric first electric two-wheeler firm to get PLI nod, claim reports
Ola Electric has reportedly become the first Indian electric two-wheeler firm to bag Centre’s Production Linked Incentive (PLI) nod, pipping several applicants which include Hero MotoCorp, TVS Motor Company, and Bajaj Auto. BT could not independently verify this development. Introduced in 2021, the PLI scheme is aimed at boosting local manufacturing of automotive technology products…
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Shifting Gears: The Future Of Automotive Aftermarket In A Tech-Driven Era
In the rapidly changing landscape of the automotive industry, aftermarket services emerge as pioneers in adapting to consumer needs. The recent findings from the Automotive Component Manufacturers Association (ACMA), in its pioneering study on the ‘Indian automotive aftermarket,’ shed light on the sector’s significant valuation at INR 33,000 Cr for ‘on-road’ vehicles. This huge amount…
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Automotive Alternator Market is expected to reach US$ 13.48 Bn by 2029 .
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market,…
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Tech insider: WAE EVRh
In 2022, UK-based WAE, now owned by the Fortescue mining concern, debuted its EVR concept – a modular high-performance BEV platform (see Flexible performer, September 2022, p14*) intended to provide vehicle manufacturers with a flexible basis for sporting EVs. Now, the company has taken the concept a step further with the EVRh, a version equipped…
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Ways AI Will Revolutionize Automotive
The automotive artificial intelligence (AI) market is ready to soar, claims Next Move Strategy Consulting. The consultancy’s recent report projects a market size of $25.78 billion and an impressive compound annual growth rate of 29.2% from 2024 to 2030. Its study suggests government regulations and safety standards are the pivotal drivers for “propelling the growth…
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Steve Greenfield’s 9 predictions for the future of automotive in 2024
Welcome back to the latest episode of The Future of Automotive, with Steve Greenfield, Founder and CEO of Automotive Ventures, where we put recent automotive and mobility news into the context of the broader themes impacting the automotive industry. What better way to ring in the new year than to present our big predictions for 2024? So, with…
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Xiaomi Unveils Five Core Automotive Technologies and Debuts Xiaomi SU7, Completing the Human x Car x Home Smart Ecosystem
Xiaomi held its Xiaomi EV Technology Launch, officially unveiling Xiaomi EV’s five core technologies – E-Motor, Battery, Xiaomi Die-Casting, Xiaomi Pilot Autonomous Driving, and Smart Cabin. From the development of foundational core technologies, Xiaomi aims to redefine the technology of the automotive industry. Xiaomi EV’s first product – the highly anticipated Xiaomi SU7, has been…
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From smartphones to EVs: China’s Xiaomi unleashes first electric sedan
Breaking new ground in the electric vehicle market, Xiaomi, the Chinese tech behemoth, has officially launched its inaugural electric sedan, the SU7. With a grand vision, Xiaomi’s Founder and CEO, Lei Jun, aspires to position the SU7 as a formidable contender against established automotive giants like Tesla and Porsche within the next two decades. #XiaomiSU7…
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Automotive Industry Updates: From EV Firefighting Challenges to Eco-friendly Commuting
Automotive Industry Updates: From EV Firefighting Challenges to Eco-friendly Commuting The automotive industry continues to evolve, with developments ranging from the alarming amount of water needed to extinguish electric vehicle fires, to advancements in solid-state battery technology that could enhance vehicle safety. Moreover, vehicle reviews, like the Mercedes-Benz AMG C43, continue to excite, despite smaller…