Read more about Hero MotoCorp Ltd Falls 1.75% on Business Standard. Hero MotoCorp Ltd has added 2.09% over last one month compared to 4.86% gain in S&P BSE Auto index and 4.23% rise in the SENSEX
Jaguar Land Rover India on Wednesday said it has set up charging infrastructure across 22 retail outlets in the country as it prepares to launch its all-electric SUV, Jaguar I-PACE, later this month. Twenty two retail outlets across 19 cities are now EV ready in terms of infrastructure, as well as sales and after-sales support, the company said in a statement. The charging infrastructure has been set up in metro cities and key urban hubs across the country, it added. Electric vehicles will not just be a new mobility solution, but owning one will also be a new ownership experience. We recognise this and have worked relentlessly with our retailers to ensure that owning an EV is truly a hassle-free experience for our customers, Jaguar Land Rover India President and Managing Director Rohit Suri said.
Volvo says it will make only electric vehicles by 2030. But if you want one, you ll have to buy it online. The Swedish automaker said Tuesday that it is phasing out the production of all cars with internal combustion engines including hybrids. There is no long-term future for cars with an internal combustion engine, said Henrik Green, Volvo s chief technology officer. Volvo s announcement follows General Motors pledge earlier this year to make only battery-powered vehicles by 2035.
Volvo also said that, while its all-electric vehicles will be sold exclusively online, dealerships will remain a crucial part of the customer experience and will continue to be responsible for a variety of important services such as selling, preparing, delivering and servicing cars.
Read more about Maruti Suzuki climbs after February sales rise 12% YoY on Business Standard. Maruti Suzuki India rose 1.71% to Rs 6,990.20 after the car major s total sales jumped 11.8% to 1,64,469 units in February 2021 over February 2020.
Auto stocks will be in focus today as sales data for the month of February will be released.
Reliance Strategic Business Ventures (RSBVL), a wholly owned subsidiary of Reliance Industries (RIL), announced that it has acquired additional equity stake in its investee company skyTran Inc. (skyTran) for a consideration of $26.76 million increasing its shareholding to 54.46% on a fully diluted basis.
Bharti Airtel informed that its wholly owned subsidiary Airtel Digital has agreed to subscribe to 5,000 equity shares (10%) in Ferbine Private Limited on February 25, 2021.
The board of Indian Oil Corporation (IOCL) at its meeting held on 26 February 2021 approved an investment of Rs 32,946 crore to expand the capacity of Panipat Refinery. This capital infusion is expected to increase the capacity of refinery to 25 MMTPA from 15 MMTPA.