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• Lower EV import duty not just for new entrants

  Govt awaits Tesla's India plans, urges Vinfast, BMW to invest in new capacity for EVs. New policy offers incentives for high-end cars, including import of 26,000 units annually with INR 4,150 crore investment. Existing players eligible for incentives. Focus on localization and attracting Tesla to invest in India. Ministry of Heavy Industries to release FAQs soon.

  

• Government expects positive response to electric vehicle policy from multiple companies

  India expects positive responses from automobile companies for its electric-vehicle policy, implementing tariff adjustments to attract manufacturers like Tesla and addressing quality control standards and inverted duty structure for enhanced competitiveness.

  

• Indian consumer market sees significant drop in average buyer age across cars, smartphones, and TVs

  Over the past 5-6 years, the average age of Indian consumers purchasing cars, premium smartphones, and large televisions has decreased significantly, indicating a shift towards younger demographics. Major car manufacturers like Maruti Suzuki, Hyundai Motor, and Mercedes-Benz note a decline in the average buying age from the 40s to the mid-30s, with over 70% of electric car buyers being in their 20s and 30s. Similarly, the average age for purchasing Apple iPhones and large-screen televisions has dropped from the 30s to the late 20s to early 30s.

  

• Shanghai eases data-export curbs sought by Tesla, other firms, document shows

  The 2022 rules require all "important" offshore transfer of data related to operations within the country to clear security reviews by the Cyberspace Administration of China. This has caused indefinite delays in data transfers, confusion and concern among foreign firms.

  

• NHAI creates units focusing on upkeep of highways

  The move comes at a time when the highway authority has completed construction and widening of most of the stretches under it. There has also been an increased need for the NHAI to work more in managing and maintaining its road assets than building new roads.

  

• Govt eyes hydrogen-based process for steel production to cut carbon emissions

  Secretary, Ministry of Steel, Nagendra Nath Sinha said on Friday that the government is working on introducing a green hydrogen-based process in the steel industry where the iron will be directly reduced with 100 per cent hydrogen, resulting in a sharp reduction in carbon emissions.

  

• Ineos drives towards hydrogen car future

  At a sprawling vehicle test centre in the English countryside, a hydrogen-powered Grenadier 4x4 made by Ineos Automotive grips steep and rugged tracks, showcasing its off-road capabilities. Calder spoke from the UTAC vehicle test centre in Millbrook, a village north of London, where the hydrogen-powered vehicle quietly navigated dusty sharp bends and other obstacles.

  

• Swedish EV maker Polestar gets Nasdaq notice on potential de-listing

  A deficiency notice from Nasdaq is a formal alert sent to a company that is not meeting the minimum standards for continued listing. It serves as a warning to rectify the issues or face potential delisting.

  

• Mercedes workers reject union in Alabama in setback for labor

  Workers at Mercedes-Benz's Alabama facilities have rejected a union drive in a setback to the United Auto Workers' ambitious campaign to organize the American South, according to results released Friday by US authorities. But the American South has been a vexing target for organized labor for decades.

  

• Rupee strengthens to highest in a fortnight, logs weekly rise

  The RBI likely intervened near 83.50 levels earlier in the session to cap weakness in the rupee but interbank dollar sales picked up after the mid-day fix, which helped the currency gain, traders said. The fix is a daily reference rate for the dollar-rupee pair published by the central bank.

  

• New e-car norms on way as India looks to build a China Wall on EV street

  The development comes weeks after Tesla chief Elon Musk cancelled his much-hyped visit to India in April. Tesla is yet to communicate its India plans to the government under the new EV policy, the official said. Musk, who was scheduled to visit India April 21-22, postponed his visit at the last moment, citing “very heavy Tesla obligations”.

  

• NCLT okays Metalysts Forgings' acquisition by Deccan value-led group

  "It (resolution plan) shall be binding on the corporate debtor (Metalysts Forgings), its employees, members, and creditors, including the central government, any state government or any local authority to whom a debt in respect of the payment of dues arising under any law for the time being in force is due, guarantors and other stakeholders involved in the resolution plan," the division bench of justice VG Bisht and technical member Prabhat Kumar said in its May 14 order.

  

• VW and Renault end talks to develop affordable EV

  The collapse of negotiations could mean the German carmaker may have to go it alone in developing its own affordable electric vehicle (EV). Renault will continue designing its electric Twingo, scheduled to hit the market in 2026.

  

• Government likely to revise EV manufacturing policy with emphasis on greenfield investment

  EV stocks surge by up to 253% in a year as government develops detailed guidelines under the electric-vehicle policy, attracting investments and promoting India as a manufacturing hub for EVs with specific scrutiny for border-sharing countries and import limits.

  

• Tesla 'silent'; yet to communicate its India plans: Official

  American tech billionaire Elon Musk, who was scheduled to visit India on April 21-22, had postponed his visit at the last moment citing "very heavy Tesla obligations".

  

• Maruti Suzuki opens 3,000th Arena sales channel

  Maruti Suzuki sells vehicles through the Nexa, Arena and commercial channels to cater to the varied needs of customers. It has 3,880 sales touch points covering over 2,500 cities, the company said.

  

• Volvo Group and Daimler Truck sign preliminary pact on JV for SDV platform

  The joint venture will develop a common software-defined vehicle platform and dedicated truck operating system, providing the basis for future software-defined commercial vehicles.

  

• VinFast receives 27,649 pre-orders for mini-SUV VF 3 in Vietnam after 66 hours of accepting deposits

  The VF 3's record pre-orders are credited by its special introductory price of only 235 million VND (approximately USD 9,248, battery subscription) and 315 million VND (approximately USD 12,390, battery included) for customers who placed deposits from May 13 to May 15, the company said.

  

• Kia India launches ‘Kia Lease’ with Orix Auto

  Customers have the freedom to opt for purchasing or leasing of Kia vehicles without any initial down payment. This not only offers convenience but also guarantees value for money, encompassing maintenance expenses, insurance renewals, and resale considerations.

  

• India makes strong pitch for playing pivotal role in global hydrogen economy

  India has the capability to become a leading exporter of green hydrogen and is poised to play a pivotal role in the global hydrogen economy, Secretary, Ministry of New & Renewable Energy, Bhupinder Singh Bhalla said at the World Hydrogen Summit.