|
Ashok Leyland looks to fuel LNG boom in trucks
Business Standard | 23 July 2025
- Ashok Leyland partners with City Gas Distribution firms (Adani, AG&P, Think Gas, Mahanagar Gas) to enable LNG-CNG co-selling at fuel stations.
- Aims to support PNGRB's target of growing LNG trucks from ~700 to 500,000 by 2040, citing LNG's cost (TCO) and emission advantages over diesel.
- Advocates for dedicated LNG corridors and highlights China's existing network (800k trucks, 6k stations) as a benchmark.
|
| |
|
Renault Plans to Double India Parts Sourcing: MD
The Economic Times | 24 July 2025
- Renault India plans to double component sourcing from India to €400M (₹4,055 Cr) in 5 years, up from €170M/year currently.
- Strategy aims to make India a global sourcing hub and boost supplier competitiveness amid Renault’s global cost-cutting efforts.
- MD Venkatram Mamillapalle dismissed partnership rumors, asserting independence in design/manufacturing; 4 new models, including Triber refresh, planned under a $600M investment.
|
| |
|
Auto sector can cut emissions by 87%
Business Standard | 24 July 2025
- CEEW study: India’s auto industry can reduce emissions 87% by 2050 via green electricity and low-carbon steel adoption.
- Scope 3 (supply chain) emissions contribute 83% of sector footprint, dominated by coal-intensive steel/rubber production.
- Without intervention, annual emissions could hit 64M tonnes CO₂ by 2050; net-zero target would cut this to 9M tonnes.
|
| |
|
Automakers clash over CAFE norms at Siam meet
Business Standard | 26 July 2025
- Automakers divided at SIAM meeting over exempting sub-3.5T LCVs (N1 category) and sub-1,000kg small PVs from stricter CAFE-3/4 norms (effective April 2027).
- PV makers opposed weight-based relief for small cars, while others argued both segments serve cost-sensitive buyers facing affordability challenges.
- SIAM’s CEO Council to resolve disputes and review feasibility of CAFE targets amid industry polarization.
|
| |
|
Auto firms align dispatches with retail demand amid stock pileup
Business Standard | 28 July 2025
- H1 2025 PV wholesale dispatches rose just 0.5% YoY (2.16M units) vs. 2.5% retail growth (2.07M units), reflecting OEM efforts to curb dealer inventory (50+ days).
- Maruti Suzuki (+4.5% production) and Mahindra (+25.2%) outperformed; Hyundai (-0.6% production) and Tata (-15% sales) faced pressure.
- FADA urged OEMs to "recalibrate" dispatches below retail volumes to correct stock; Honda and others aligned output with festival demand.
|
| |
|
Tata Motors to acquire Italy’s CV maker Iveco Group N.V. for €3.8 billion
Business Line | 31 July 2025
- Tata Motors acquires Iveco Group’s non-defense CV business for €3.8B to access tech, talent, and global markets.
- Deal aims to create a "global player" with complementary India/Europe footprints, diversifying cyclical risks and enabling long-term investment.
- Chairman Chandrasekaran calls it a "logical step" post-Tata CV demerger; expects approvals in "coming months."
|
| |
|
India EV penetration subdued even as biggies enter mkt
Business Standard | 16 July 2025
- India’s 2024–25 EV penetration reached 7.8% (vs. 7.1% in FY24), driven by 3-wheelers (57.3%) but lagging in 4-wheelers (2.6% PVs, 0.9% CVs).
- Charging infrastructure skewed: 58% of 26,367 stations in 5 states (Karnataka leads with 22.3%).
- Tesla/VinFast market entry unlikely to bridge gap to 30% EV sales target by 2030 at current adoption pace.
|
| |
|
MG Motor to ramp up EV production amid surging demand; scale exports
Business Line | 25 July 2025
- MG Motor India operates at near-full capacity (1.1L/year), plans expansion in 2–3 years to meet domestic/export demand (target: 72K units in CY25).
- Holds 38% EV market share; Comet EV popular for urban commute; exports to Bhutan/Nepal, eyeing new markets.
- Mitigated rare-earth supply risks via component audits; app "MG ethic" addresses charging-infra concerns.
|
| |
|
No relief: EV makers face govt hard line on localisation
Business Standard | 25 July 2025
- MHI mandates EV makers to declare "sufficient rare-earth magnet stocks" for PM e-Drive subsidies, despite China’s export curbs making local sourcing unfeasible.
- Industry sought temporary motor imports (15% duty) instead of magnets (7.5% duty) but was rejected; must comply with PMP guidelines or forfeit incentives.
- Execs cite "practical feasibility" issues, not unwillingness; 12 major EV firms declined to comment.
|
| |
|
EV plants face shutdown as magnet supply runs dry
Business Line | 28 July 2025
- EV 2W/3W OEMs face plant shutdowns by July 31 as rare-earth magnet stocks deplete; PLI/PM e-Drive subsidies delayed.
- Importing motors (15% duty) vs. magnets (7.5%) is costly; SIAM sought duty parity but government is cautious post-FAME-2 fraud probes.
- Festival-season demand at risk; Ola exploring ferrite motors (ready by Q3 2026) but most lack alternatives.
|
| |
|
VinFast makes 1st India stop with Surat showroom
Business Standard | 28 July 2025
- VinFast launched its first India showroom in Surat (Gujarat), showcasing VF6/VF7 SUVs ahead of its $2B Thoothukudi plant inauguration (Aug 4).
- Plans 35 dealerships across 27 cities by 2025-end; partnered with Chandan Car for retail.
- Pre-bookings open (₹21,000 fee) to leverage festive demand and expand India’s EV ecosystem.
|
| |
|
With New Energy, JSW Group Gets Ready to Disrupt EV Market
The Economic Times | 28 July 2025
- JSW Group formed JSW Motors (separate from MG JV) for new energy vehicles, investing $8B over 5 years; first launch in H2 FY26.
- Collaborating with Italian, German, S. Korean, and Chinese firms for tech; manufacturing hub in Maharashtra (630 acres).
- Aims 50% "New Energy Vehicle" penetration via affordable EVs/hybrids, blending global expertise with India’s supply chain/digital strengths.
|
| |
|
Tractor Dispatches to Grow Up to 7% in FY26, says Icra
The Economic Times | 30 July 2025
- ICRA forecasts 4.7% YoY growth in tractor dispatches for FY26, supported by above-normal monsoons and eased commodity costs.
- H1 FY26 saw 9.3% volume growth; steel price corrections to boost OEM margins.
- Tractor makers’ credit profiles remain healthy due to low debt and strong liquidity.
|
| |
|
SAIL pushes ₹36,000 cr capex to FY27 amid debt concerns
Business Line | 23 July 2025
- SAIL delays ₹36,000Cr IISCO plant expansion (4.5MTPA capacity) to FY27; awaits financial closure by Q3/Q4 FY26.
- FY26 capex jumps 25% YoY to ₹7,500Cr; debt reduced 4% to ₹28,741Cr in Q1 but remains high.
- Steel prices soften (long: ₹51,500/tonne; flat: ₹48,600/tonne); FY26 sales target 18.5MT hinges on 8%+ domestic demand.
|
| |
|
Steel exports dip in Q1, trade deficit narrows on import curtailment
Business Line | 29 July 2025
- Q1 steel exports fell 5% YoY to 1.2MT; EU (48% share) imports down 3%, while US surged 200% (stainless/alloy shipments).
- Trade deficit narrowed 40% to ₹4,240Cr due to lower imports (-30% YoY to 1.4MT) and export slowdown.
- Safeguard duties cut imports from Japan (-65%) and China (-45%); India retained #2 global crude steel producer (67MT, +8% YoY).
|
| |
|
Ola opposes auto firms’ plea to reduce duty on traction motors
Business Standard | 24 July 2025
- Ola Electric opposed SIAM’s plea to cut traction motor duty from 15% to 7.5%, arguing no "global supply chain crisis" exists.
- Ola sources non-Chinese rare-earth magnets and plans ferrite motors by 2026; claims duty cut would hurt local motor makers.
- SIAM sought duty parity as China’s magnet export curbs force costlier motor imports (15% duty vs. magnets’ 7.5%).
|
| |
|
Govt may mandate public procurement of 25% green steel
Business Standard | 26 July 2025
- Steel Ministry plans 25% green steel mandate for public procurement to boost demand, criticizing EU’s CBAM as a trade barrier.
- CBAM taxes steel imports into EU (50% of India’s exports); official calls it "against FTA spirit" due to scrap-export restrictions.
- Policy details being finalized; ArcelorMittal Nippon confirmed "substantial" green steel procurement discussions.
|
| |
|
FADA seeks RBI intervention against private banks delaying rate cut transmission to auto buyers
Business Line | 27 July 2025
- FADA urged RBI to enforce "time-bound" repo-rate cuts by private banks for auto loans, citing delays vs. PSU banks’ immediate transmission.
- Demanded public disclosure of banks’ cost-of-funds calculations and MSME lending benefits for auto dealers under Udyam.
- Alleged private banks deny preferential rates to eligible MSME-registered dealerships/service centers, hurting retail sales.
|
| |
|
Access all press reports in a single PDF document. |
| |
|
For receiving above report directly in your inbox for free... |
| |
|
