Companies
Auto Roundup | Explore vehicle launches, discounts, sales, strategic partnerships and other key highlights of the week
Published
3 months agoon
Auto Roundup | Discover the latest updates in India’s automotive industry with Ather Energy’s launch of the Rizta family scooter and Hyundai-Kia’s partnership for EV battery localization. Also, explore the surge in electric vehicle retail sales, Ultraviolette’s groundbreaking warranty for the F77 e-bike, and Maruti Suzuki’s price hike. Read about revamped models from Bajaj and MG, along with Tata Motors’ discounts and Hyundai’s new Grand i10 NIOS edition.
Here’s a rundown of the key highlights from the week:
Ather Energy launches Rizta family scooter and HALO smart helmet
Ather Energy made a significant splash at the second annual Ather Community Day event in Bengaluru with the launch of its newest product, the Rizta family scooter. This eagerly awaited addition to their lineup prioritises comfort, convenience, and safety, particularly catering to the needs of families.
Read More: Ather Energy launches Rizta family scooter and HALO Smart Helmet at Community Day Event
Hyundai and Kia partner with exide energy for EV battery localisation in India
Hyundai Motor Company and Kia Corporation have strengthened their commitment to expanding electric vehicle (EV) operations in India through a strategic collaboration with Exide Energy Solutions Ltd. This partnership marks a significant move towards localising EV battery production, showcasing the companies’ dedication to India’s growing EV market.
Read More: Hyundai Motor and Kia partner with Exide Energy for EV battery localisation in India
Electric Vehicle retail sales surge across segments in FY24: FADA Report
Electric vehicle retail sales in India witnessed a notable increase in the last fiscal year, with all segments, including passenger vehicles and two-wheelers, experiencing enhanced registrations. According to the Federation of Automobile Dealers Associations (FADA), this surge reflects the growing acceptance and adoption of electric vehicles in the Indian market.
Read More: Electric vehicle retail sales grow across segments in FY24: FADA
Ultraviolette unveils industry-leading warranty for F77 E-Bike
Ultraviolette Automotive, a global EV company, has introduced an industry-leading battery and drivetrain warranty structure for its flagship electric motorcycle, the F77. This warranty offers coverage of up to 800,000 kilometers and includes three packages—UV Care, UV Care+, and UV Care Max, providing customers with unprecedented peace of mind.
Read More: Ultraviolette unveils industry-1st coverage up to 8 lakh kms for F77 e-bike
Maruti Suzuki announces price hike for Swift and Grand Vitara variants
Maruti Suzuki has announced a significant price hike for two of its popular models, the Maruti Swift and select variants of the Grand Vitara series. Effective immediately, customers can expect increased prices on these sought-after vehicles, reflecting market dynamics and rising costs.
Read More: Maruti Suzuki Price Hike: Price increases for Maruti Swift and select variant of Grand Vitara
Bajaj launches revamped Pulsar N250: What’s new and notable?
Bajaj has unveiled the 2024 edition of the Pulsar N250, priced at Rs 1,50,829 (ex-showroom, Delhi), representing a marginal increase compared to its predecessor. The revamped model features visual enhancements, including a 37mm USD fork and three distinct color options, providing consumers with more choices.
Read More: Bajaj launches revamped Pulsar N250: What’s new and notable?
MG introduces Hector Blackstorm Edition at competitive prices
MG Motor India has launched the Hector Blackstorm Edition, offering stylish upgrades to its popular SUV. With introductory prices starting at Rs. 21.25 lakh, this edition maintains the original mechanical specifications while showcasing a sleek blacked-out exterior and interior enhancements.
Read More: MG launches Hector Blackstorm Edition at Rs 21.25 lakh
Tata Motors announces discounts on select vehicles
Tata Motors is offering significant discounts and promotional offers on various models in its lineup for April 2024. These discounts aim to attract customers and stimulate sales in the competitive automotive market, offering prospective buyers lucrative deals on select Tata vehicles.
Read More: Price Cut Alert: Tata Motors announces discounts on select vehicles
Hyundai introduces corporate Edition of Grand i10 NIOS in India
Hyundai Motor has introduced the corporate edition of its popular model, the ‘Grand i10 NIOS,’ in India. Priced starting from Rs 6,93,200, this latest offering boasts enhanced features and is available in a vibrant array of seven colors, catering to diverse customer preferences.
Read More: Hyundai launches corporate edition of Grand i10 NIOS in India with enhanced features and affordable pricing
Mercedes-Benz Q1 sales decline due to supply bottlenecks in Asia
Mercedes-Benz reported a 6% decline in sales in the first quarter, attributing the drop to supply bottlenecks in Asia and its luxury model range changeover. Despite challenges, the German premium carmaker remains committed to meeting customer demand and navigating market dynamics.
Read More: Mercedes-Benz India reports best-ever retail sales in FY24
Jeep Compass Night Eagle launched in India at competitive price point
Jeep has introduced the Compass Night Eagle edition in India, offering enthusiasts an alluring all-black variant of the popular SUV. Priced competitively at Rs 25.39 lakh, this edition caters to customers seeking a distinctive and stylish option in the SUV segment.
Read More: Jeep Compass Night Eagle launched in India at Rs 25.39 lakh
Bounce Infinity introduces portable liquid-cooled battery tech for E-Scooters
Bounce Infinity has launched portable liquid-cooled battery technology for e-scooters in partnership with energy storage solutions startup Clean Electric, aiming to enhance performance and durability in electric vehicles.
Read More: Bounce Infinity launches portable liquid-cooled battery tech for e-scooters
Indian Automobile industry reports robust sales growth amidst favorable economic climate
The Indian automobile industry has recorded a commendable growth rate, with sales surging by 12.5% during the recently concluded financial year. This growth is attributed to a firm economic climate and increasing consumer demand across various vehicle segments.
Read More: Indian automobile industry reports 12.5% sales growth amidst firm economic climate
Kia India introduces ‘My Convenience Plus Package’ for New Sonet
Kia has raised the bar in aftersales services with the introduction of the My Convenience Plus program for the recently launched Sonet. This comprehensive package ensures that Sonet owners receive top-notch support and service, further enhancing their ownership experience.
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Companies
myTVS launches‘Mobility-as-a-Service’platform for EV fleets
Published
2 months agoon
September 23, 2024
myTVS, India’s digital automotive aftermarket platform and part of the $3 billion TVS Mobility Group, has officially launched its pan-India ‘Mobility-as-a-Service’ (MaaS) platform aimed at last-mile EV fleet operators. This comprehensive platform integrates a range of services for the entire electric vehicle (EV) fleet lifecycle, including leasing, real-time fleet management, servicing, spare parts management, charging solutions, telematics, roadside assistance, insurance, and tyre management.
The MaaS platform boasts a digital catalogue of over 180,000 SKUs and offers vehicle refurbishment services to enhance fleet longevity and efficiency. myTVS aims to become the go-to brand for last-mile fleet operators, enabling them to scale operations effectively through strategic partnerships with all stakeholders in the EV ecosystem.
As part of this initiative, myTVS has formed a strategic alliance with MoEVing, a leading EV-based logistics company in India. This partnership is expected to drive growth in the quickly evolving quick commerce sector, which is increasingly looking to electrify its operations to meet sustainability goals.
“This launch marks a pivotal transition for myTVS from personal mobility to fleet mobility solutions,” said G Srinivasa Raghavan, Managing Director of myTVS. “Our platform is tailored to meet the evolving demands of both personal and fleet mobility customers, ensuring efficiency and sustainability. With over 1,000 service outlets across India, we are uniquely positioned to support fleet operators with 24/7 telematics, a Network Operations Centre, and diagnostic services that maximise vehicle uptime.”
Vikash Mishra, CEO of MoEVing, emphasised the importance of ecosystem partnerships for accelerating EV adoption in India. “The launch of the MaaS platform by myTVS addresses a critical market need, offering a holistic solution that aligns with our mission to enhance service delivery and expand our national footprint.”
A recent BCG report forecasts significant growth in the organised last-mile delivery market, particularly in food, grocery, and e-commerce sectors, with EV adoption projected to reach 20-30% in organised fleets by 2025.
Raghavan concluded, “With over 1 million customers, myTVS is one of the fastest-growing aftermarket service providers in India. We plan to add another 2,500 outlets in the next two years, aiming for a market share of 10-12%.”
The myTVS MaaS platform offers flexibility and is designed to integrate seamlessly with OEM manufacturers, insurance providers, financial services, and leasing companies, ensuring comprehensive support for all stakeholders in the electric mobility landscape.
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Companies
One Point One Solutions wins two international orders – check details
Published
3 months agoon
September 23, 2024
One Point One Solutions Limited, a leading provider of technology-enabled business process management (BPM) services, has won two international orders. According to the information shared with the exchanges, the company has won a prominent telehealth company headquartered in Atlanta, USA.
The telehealth company provides a comprehensive platform designed to streamline the entire telemedicine cycle, offering innovative services that connect healthcare providers with patients globally.
Under this contract, One Point One Solutions will partner with the telehealth company to provide contact centre solutions and data verification services.
The company has also won a contract with a publicly listed Swedish company. As part of the contract, it will make a robust platform to streamline ticket management across departments, enabling seamless communication and creating a comprehensive knowledge repository.
It will also prepare a comprehensive solution for payroll data management that ensures secure user access and efficient processing of payroll information.
Earlier, ITCube Solutions Pvt. Ltd. – a One Point One Solutions Limited subsidiary – entered into a deal that will allow the company to use its AI-powered platform for automated detection, enforcement, and removal of infringing content across digital platforms.
“ITCube Solutions has secured a new client-win in the European region a renowned global player specialising in providing solutions against brand threats utilizing advanced AI-driven tools to combat online piracy, counterfeiting, and intellectual property infringement,” the company said in an exchange filing.
With a global presence including NewYork, Barcelona, Beijing & Salt Lake City and providing scalable, cost-effective SaaS solutions, the newly acquired client is changing the industry landscape.
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RBI restricts withdrawals from Jalna-based Mantha Urban Coop Bank for 6 months
Published
3 months agoon
September 22, 2024
Reserve Bank of India on Tuesday imposed restrictions on withdrawals from Maharashtra-based Mantha Urban Cooperative Bank for six months.
The RBI, in a release, said it has issued certain directions to Mantha Urban Cooperative Bank, Mantha District Jalna, Maharashtra, from the close of business on November 17, 2020.
As per the directions, the bank will not, without prior approval of RBI in writing, grant or renew any loans and advances, make any investment, incur any liability including borrowal of funds and acceptance of fresh deposits, disburse or agree to disburse any payment, among others.
“In particular, no deposit of the total balance across all savings bank or current account or any other account of a depositor may be allowed to be withdrawn” subject to conditions stated in the directions, the central bank said.
The directions will remain in force for a period of six months from the close of business of November 17, 2020 and are subject to review, it added.
It further said the issue of the directions by the RBI should not per se be construed as cancellation of banking license by RBI.
The bank will continue to undertake banking business with restrictions till its financial position improves, the central bank said, and added it may consider modifications of the directions depending upon circumstances.
In a separate release, RBI said it has imposed monetary penalty of Rs 20 lakh on Bengaluru-based Shushruati Souharda Sahakara Bank Niyamita for deficiencies in regulatory compliance.
The central bank also imposed a penalty of Rs 1 lakh on The Deccan Urban Co-operative Bank, Vijayapura, Karnataka, for contravention of the directions issued by it on prohibition of loans and advances to directors.
The story has been taken from a news agency