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<keyword id="19910508" type="General" weightage="20" keywordseo="Amazon-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Amazon India" meta.hostid="261" meta.entityid="Amazon India">Amazon India</keyword> on Monday said that it has formed a strategic <keyword id="19900447" type="General" weightage="20" keywordseo="partnership" source="keywords">partnership</keyword> with electric mobility firm <keyword id="20992233" type="General" weightage="20" keywordseo="Gentari" source="keywords">Gentari</keyword> for its EV deployment programme as it targets a fleet of 10,000 <keyword id="19895203" type="General" weightage="20" keywordseo="electric-vehicles" source="keywords">electric vehicles</keyword> for last-mile deliveries by 2025. Under the collaboration, Gentari Green Mobility Business will procure and deploy electric vehicles for the company in the next three years besides providing comprehensive fleet management services to the delivery service partners (DSPs) to ensure the seamless operation and upkeep of the <keyword id="20475726" type="General" weightage="20" keywordseo="EV-fleet" source="keywords">EV fleet</keyword>, Amazon India said. The partnership will provide Delivery Service Providers (DSPs) access to more electric three-wheelers for Amazon deliveries, it added. "We aim to empower our delivery service partners by providing them access to the right electric vehicles, end-to-end vehicle life cycle management services, as well as charging and parking facilities," said Abhinav Singh, VP (Operations) at Amazon India. The company deployed more than 7,200 EVs in India at the end of 2023, and it remains well on track to achieve its goal of deploying 10,000 EVs in the domestic market by 2025, he said. Amazon India has operations across 400 cities in the country. "As we work together to deploy more EVs and contribute to India's net zero targets, I'm confident this collaboration will pave the way for a cleaner and electric future for India's transportation sector," said Nikhil Thomas, CEO of Gentari Green Mobility India. Gentari Green Mobility India offers a comprehensive suite of services including a wide network of EV charging points, EV subscriptions through Vehicle-as-a-Service (VaaS), and personalised value-added services. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/saraswati-saree-depot-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112457330.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/saraswati-saree-depot-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112457330.cms" target="_blank">Saraswati Saree Depot IPO – Price band to risk factors, all you need to know</a><a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank">India’s wearables market decline for the first time as smartwatch shipments fall</a><a href="https://www.businessinsider.in/business/news/ola-wants-to-re-enter-the-quick-commerce-business-to-take-on-blinkit-and-swiggy-instamart/articleshow/112364583.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/news/ola-wants-to-re-enter-the-quick-commerce-business-to-take-on-blinkit-and-swiggy-instamart/articleshow/112364583.cms" target="_blank">Ola wants to re-enter the quick commerce business to take on Blinkit and Swiggy Instamart</a>

Amazon India partners with Gentari for 10,000 EV fleet by 2025

In response to higher-than-expected tax revenue and a record surplus transfer from the Reserve Bank of India (RBI), the Indian government is considering an 8-10% increase in <keyword id="20018917" type="General" weightage="20" keywordseo="capital-expenditure" source="keywords">capital expenditure</keyword> (capex) for the fiscal year 2025, according to Pantomath Group's quarterly report, "Market Kaleidoscope: Quarterly Market Insights." This adjustment could raise the capex from the previously allocated Rs 11.11 lakh crore, aiming to bolster infrastructure and economic growth. This fiscal boost comes as India reaches a historic financial milestone. The total market capitalization of all stocks listed on the Bombay Stock Exchange (<keyword id="19895774" type="General" weightage="20" keywordseo="BSE" source="keywords">BSE</keyword>) briefly surpassed $5 trillion for the first time, placing India among global giants such as the US, China, Japan, and Hong Kong. India's primary market is set for a dynamic period, with 55 companies planning to raise over Rs 68,000 crore through Initial Public Offerings (IPOs). The first half of FY2025 has already seen 35 mainboard IPOs, collectively raising around Rs 32,000 crore with an average subscription rate of 61 times. The Indian market maintained a positive outlook in the first quarter of FY2025, driven by strong Q4FY24 earnings, favorable economic data, and positive global cues. Despite early June volatility following the 2024 <keyword id="19895394" type="General" weightage="20" keywordseo="lok-sabha" source="keywords">Lok Sabha</keyword> election results, market sentiment improved with the BJP securing 272 seats and a total of 292 seats for the NDA with allied support. This political stability under Prime Minister Narendra Modi's leadership is expected to promote long-term economic growth, with a focus on infrastructure, electric mobility, startup support, power distribution, digital privacy, and healthcare initiatives. Corporate India's performance in the March quarter of FY2024 met expectations, showing double-digit growth in net profit and single-digit revenue increases. Non-lending companies experienced moderate operating margin expansion due to favorable commodity prices and cost controls. The peaking interest rates and continuity of <keyword id="19978691" type="General" weightage="20" keywordseo="government-policies" source="keywords">government policies</keyword> are anticipated to support healthy corporate growth in FY2025. <h2>Growth to continue</h2>The government's push for increased <keyword id="20068449" type="General" weightage="20" keywordseo="ethanol-production" source="keywords">ethanol production</keyword> targets a 20% blending by 2026, benefiting ethanol-heavy sugar companies and promoting biofuel goals. The real estate market is projected to grow significantly, requiring Rs 14 lakh crore in debt financing from 2024 to 2026. This growth will positively impact the banking and financial sectors. Major telecom operators have raised tariffs post-election, potentially improving sector financials and paving the way for sector re-rating. Major cement players are expanding through acquisitions, with an expected 6-7% compounded growth and market dominance by the top five players by March 2025. FMCG Companies expect recovery in rural business due to factors like a normal monsoon, robust crop yields, and government measures, maintaining robust rural demand. The potential roll-out of the FAME 3 Scheme to support <keyword id="19963112" type="General" weightage="20" keywordseo="electric-vehicle-sales" source="keywords">electric vehicle sales</keyword> is anticipated, with a budgetary allocation of around Rs 10,000 crore. Sectors such as auto, cement, defence, railways, consumer durables, energy, and banking are expected to outperform. Lagging sectors like IT and specialty chemicals offer value-buying opportunities at lower levels. The structural bull market for Indian equity is supported by strong domestic fundamentals and government reforms, with a positive medium- to long-term market outlook. Globally, the US market showed resilience, except for the Dow Jones. The Federal Reserve maintained interest rates at 5.25-5.50%, awaiting inflation to move towards the 2% target before considering rate cuts. The US GDP grew at 1.4% annually in Q1 2024, with mixed economic indicators highlighting both strengths and challenges. The Indian <keyword id="19926041" type="General" weightage="20" keywordseo="IPO-market" source="keywords">IPO market</keyword> has seen significant growth, with a surge in companies seeking to list shares and a rise in capital raised. The first half of 2025 saw strong retail investor participation, reflecting confidence in India's growth prospects. Mahavir Lunawat, Managing Director, Pantomath Capital Advisors Private Limited, said, "Favourable market conditions, high liquidity, a conducive growth environment with stable interest rates, and benign inflation have facilitated a boom in the IPO market. The IPO market will experience a stronger pull post-budget. India is set to become the new equity funding frontier for global corporations." He further added. "We are on the brink of sustained, long-term momentum in the IPO market, with this year potentially becoming the best for IPOs. India's solid macroeconomic environment and promising growth prospects create an ideal backdrop for this vibrant IPO market. Additionally, there is robust participation from both domestic institutional investors and retail investors." With the Indian government's potential capex increase and the robust primary market activity, the <keyword id="19948184" type="General" weightage="100" keywordseo="Indian-economy" source="keywords">Indian economy</keyword> is poised for sustained growth. The upcoming period is expected to see heightened market activity, further IPOs, and economic stability, creating a conducive environment for investment and development.

India may boost FY25 capex by 8-10% amid surging revenues and record RBI surplus, says Market Kaleidoscope report

Last week, the President of the United States, <keyword id="19919748" type="General" weightage="20" keywordseo="joe-biden" source="keywords">Joe Biden</keyword>, announced significant tariffs on a range of <keyword id="20139085" type="General" weightage="20" keywordseo="Chinese-products" source="keywords">Chinese products</keyword> to protect American workers from unfair trade practices. The targetted measures include a 100% tariff on <keyword id="6354973" type="General" weightage="20" keywordseo="electric-vehicles" source="Orion">electric vehicles</keyword>, a 50% tariff on semiconductors and solar cells, and a 25% tariffs on batteries, steel and aluminium products, some critical minerals, and essential health equipment like medical gloves, syringes and needles. In his address from the Rose Garden of the White House, Biden said America can continue to buy any kind of car they want, "but we're never going to allow China to unfairly control the market for these cars. Period." He claimed that the Chinese government has been investing state funds in various Chinese companies for years, spanning industries across the above-mentioned sectors. How does this brewing geopolitical <keyword id="20736760" type="General" weightage="20" keywordseo="trade-war" source="keywords">trade war</keyword> impact <keyword id="20742235" type="General" weightage="20" keywordseo="Indian-firms" source="keywords">Indian firms</keyword>? Experts say the impact could be in two ways, benefitting some sectors, while harming the few others. Let’s start with the bad news. <cmsannotation type="cmsannotation" annotationid="Threat to Indian firms" comment="subhead" text="Threat to Indian firms">Threat to Indian firms</cmsannotation> Beijing offers significant subsidies on most of these products, leading to surplus production that exceeds domestic and even regular export demand. Subsequently, Chinese companies are known to flood the global markets with surplus products at unreasonably low prices, forcing local manufacturers out of business in many countries, including <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>. A prime example of this in practice can be found in the steel sector, where weak domestic demand is pushing the world’s largest steel producer China to offload surplus production into Indian markets at cheaper prices. Indian steel manufacturers are already struggling to compete with a glut of cheaper Chinese steel, with shipments nearly doubling year-on-year in the financial year ending March 2024. “India is already under grave threat of import because all major steel consuming economies are shutting their doors on these steel producing countries. We are highly vulnerable to surging and predatory import,” said Alok Sahay, secretary general of the Indian Steel Association, to Reuters. Global trade experts say that a majority of Chinese products are sold at unreasonably low prices in global markets because the companies in these sectors do not have to worry about profits. They are heavily subsidised by the Chinese government. <keyword id="20279291" type="General" weightage="20" keywordseo="Steel-Authority-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Steel Authority of India" meta.hostid="261" meta.entityid="Steel Authority of India">Steel Authority of India</keyword>’s (SAIL) chairman Amarendu Prakash also said that they are keenly watching Chinese imports after the US tariff increases. Additionally, China has been accused of employing anti-competitive strategies like compelling foreign companies to transfer their technology in order to operate in China. These factors have led to the US effectively shutting its door on several Chinese products through heightened tariffs, and other developed markets like Canada are also likely to follow suit. White House also emphasised that it continues to consult with its partners and allies who are facing similar threats from China’s unfair trade practices and are keen on taking action. If more and more global markets restrict entry of Chinese products, the risk of the majority of such products being dumped in neighbouring India increases drastically. Trying to block Chinese excess production "is like squeezing a balloon. It shrinks in one place and pops out in another," William Reinsch, a trade expert at the Center for Strategic and International Studies in Washington, tells Reuters. <cmsannotation type="cmsannotation" annotationid="An opportunity also arises" comment="subhead" text="An opportunity also arises">An opportunity also arises</cmsannotation> While some products risk being dumped into the Indian market, in a few other cases, Indian firms could benefit from fresh openings in the lucrative US market. "Of the products affected, India has opportunities in face masks, PPE, syringes &amp;needles, medical gloves, aluminium, iron, and steel. Opportunity may come in China also with retaliation, provided we have market access in products targeted by China," Ajay Sahai, Director General of the Federation of Indian Export Organisations (FIEO), told ANI. However, China is not likely to retaliate against the US tariffs at the moment, say experts, though the country’s Ministry of Commerce said it would take 'resolute measures to safeguard its own rights and interests' "China's economy is fragile. With household spending and the property market on the wane, manufacturing for export markets is one of its few bright spots. Beijing will not want to cut off its nose to spite its face. More broadly, China is desperately trying to encourage new foreign investment. Rash retaliatory action could spoil its case," Moody's Analytics explained in a recent report. Out of China's USD 420 billion exports to the US, only USD 18 billion is impacted due to the latest hike in tariffs — representing slightly over 4% and therefore considered marginal. But Sahai says that this market will continue to grow with time and provides an opportunity to India and other competitors to chip in the supply gap. Ajay Srivastava, the founder of the Global Trade Research Initiative (GTRI), also echoes Sahai’s opinions. He emphasised that the increased duties on Chinese face masks, syringes, needles, medical gloves, and natural graphite offer a substantial opportunity for India, as quoted by ANI. "By ramping up production and export of these in-demand products, India could enhance its trade footprint in the US market," he added. In terms of products like electric vehicles and semiconductors, India remains a net importer, and therefore, may not be in a position to capitalise right now. In the long term, however, as India begins semiconductor production at scale in 2025, there will be opportunities to export some of it to the US and other European countries, offering fresh impetus for domestic manufacturing. As the security risks associated with importing Chinese semiconductors prompts more and more trade barriers from the Western countries, demand for supply from India is likely to grow. Efforts are already underway for the establishment of four large semiconductor plants in India, with three located in Gujarat and one in Assam. Last fiscal year, Indian exports to the US dipped marginally by 1.32 per cent to $77.5 billion as against $78.54 billion in 2022-23. The new development now gives an unique opportunity to turn the tide over the next few years. Overall, some sectors like steel and aluminium do face a serious challenge due to the fresh US tariffs on Chinese products. However, the development will open new avenues for Western market entry and expansion for several other products. (With inputs from agencies)

US-China tariff war could benefit several sectors in India while harming a few others

Energy tech startup <keyword id="12291737" type="General" weightage="80" keywordseo="exponent-energy" source="Orion">Exponent Energy</keyword> is aiming to power 25,000 electric vehicles by 2025 as it displayed its proprietary energy stack comprising battery pack, charging station and charging connector in Bengaluru on Monday. The company, in a statement, said it is looking to expand its operations to <keyword id="674224" type="General" weightage="50" keywordseo="delhi-ncr" source="Orion">Delhi NCR</keyword>, <keyword id="6358070" type="General" weightage="50" keywordseo="mumbai" source="Orion">Mumbai</keyword>, <keyword id="6354552" type="General" weightage="20" keywordseo="hyderabad" source="Orion">Hyderabad</keyword>, Chennai and <keyword id="5065" type="General" weightage="50" keywordseo="ahmedabad" source="Orion">Ahmedabad</keyword> by the end of this fiscal and is targeting to deploy 1,000 charging stations and 25,000 EVs powered by <keyword id="218039" type="General" weightage="100" keywordseo="exponent" source="Orion">Exponent</keyword>, by 2025. Exponent said its energy stack together unlocks a 15-minute rapid charge, and long battery life (3,000 cycle life warranty, 3 times the industry standard) - all done on regular LFP cells for the first time in the industry. Rapid charging kills range anxiety and the need for expensive, oversized battery packs, it said, adding that with this two-sided approach, EVs powered by exponent will be 30 per cent more affordable, which has been made possible by an optimised battery capacity (30 per cent smaller), and 5-year financing (powered by 3,000 cycle life warranty). Additionally, 15-minute rapid charging reduces EV charging cost by 33 per cent, the company claimed. Exponent's energy stack addresses two key problems that, for decades, prevented rapid charging on LFP cells - Lithium plating and extreme heat, it said. "We are building the future of energy that combines engineering with real world economics. For everyone to go electric, consumers need EVs that charge faster, last longer, and cost lesser," <keyword id="1358534" type="General" weightage="50" keywordseo="arun-vinayak" source="Orion">Arun Vinayak</keyword>, Co-founder and CEO of Exponent Energy, said. The company is ramping it up across India starting with <keyword id="157098" type="General" weightage="20" keywordseo="delhi-ncr" source="Orion">Delhi-NCR</keyword>, Mumbai, Hyderabad, Chennai and Ahmedabad, he added. The company said its 15-minute rapid charging also unlocks higher energy throughput enabling it to build a profitable and scalable EV charging network. SEE ALSO:<a href="https://www.businessinsider.in/entertainment/news/movies-and-tv-shows-releasing-in-august-2023/slidelist/102272332.cms" target="_blank"></a> <a href="https://www.businessinsider.in/entertainment/news/movies-and-tv-shows-releasing-in-august-2023/slidelist/102272332.cms" target="_blank">From Made in Heaven to Gadar 2 – Movies and OTT shows releasing in August</a><a href="https://www.businessinsider.in/tech/gadgets/news/honor-pad-x9-vs-realme-pad-2-which-tablet-should-you-buy/slidelist/102264679.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/gadgets/news/honor-pad-x9-vs-realme-pad-2-which-tablet-should-you-buy/slidelist/102264679.cms" target="_blank">Honor Pad X9 vs Realme Pad 2 – The new tabs under ₹20,000 to consider</a> <a href="https://www.businessinsider.in/business/news/hdfc-bank-and-swiggy-launch-co-branded-credit-card-to-offer-discount-to-customers/articleshow/102133212.cms">HDFC Bank and Swiggy launch co-branded credit card – cashback, offers and more</a>

Exponent Energy aims to power 25,000 electric vehicles by 2025

South Korean auto major <keyword id="20190176" type="General" weightage="20" keywordseo="hyundai-motor" source="keywords">Hyundai Motor</keyword> Group on Thursday said it is looking to expand the annual production capacity across <keyword id="19906087" type="General" weightage="20" keywordseo="Hyundai" source="keywords">Hyundai</keyword> and <keyword id="19997865" type="General" weightage="20" keywordseo="Kia" source="keywords">Kia</keyword> brands in India to 15 lakh units per year, as part of its mid-to-long-term strategy in the country. Outlining the company's strategy for the India market, Hyundai Motor Group (HMG) Executive Chair Euisun Chung said the automaker plans to roll out more <keyword id="19962337" type="General" weightage="20" keywordseo="EVs" source="keywords">EVs</keyword>, while also utilising the country as an export hub for the neighbouring countries. Chung visited India on April 23 to review the group's mid-to-long-term strategies to solidify its position as a leading mobility provider. Hyundai Motor Group is expanding its manufacturing footprint in the Indian region with the establishment of an annual production system of 1.5 million vehicle units for Hyundai Motor India and Kia India combined, the automaker stated. Hyundai Motor India will start operating its Pune plant, acquired from General Motors last year, in the second half of the next year. Hyundai Motor is currently making improvements to the facility to create a production hub capable of building more than 200,000 units annually, it said. With the addition of the Chennai plant's production capacity of 824,000 units, Hyundai Motor will have an annual production capacity of over one million units when combined with the Pune plant, it added. Besides, Kia India's yearly production capacity will also be expanded to 431,000 units within the first half of this year. "Combined together, Hyundai Motor Group will have the ability to produce approximately 1.5 million units annually in India," HMG said. The group also plans to expand its EV lineup and create an EV ecosystem to accelerate customer uptake and expand charging infrastructure. It will also strengthen its SUV sales leadership in India, HMG said. Hyundai Motor India plans to unveil its first locally produced EV in India next year, it said. Starting with the mass production of its first <keyword id="21425421" type="General" weightage="20" keywordseo="electric-SUV-model" source="keywords">electric SUV model</keyword> at the Chennai plant at the end of 2024, the company plans to further produce five EV models by 2030, it added. Hyundai Motor India will also utilize its sales network hubs, expanding the number of EV charging stations to 485 by 2030, HMG said. Kia India will also start production of its local EV model in 2025 and plans to further expand its EV models, it added. The company will also focus on building EV charging infrastructure, it stated. "India is among the fastest-growing economies globally, and as this growth continues the strategic importance of Hyundai Motor India will only increase," Chung said while addressing employees in a town hall meeting. He further said, "by leveraging our strong reputation and competitive quality in India, we aim to expand exports to neighbouring countries, making India the global export hub to boost our regional market competitiveness." Chung said that by around 2030, the automaker expects to see a substantial expansion in the EV market in India. "In anticipation of this evolution, Hyundai is focused on developing locally tailored EVs aimed at establishing us as a leading global EV brand," he added. "We also plan to proactively build charging stations at strategic locations 'including dealerships' to facilitate the adoption of EVs," Chung said. Hyundai Motor India sells models like Creta, Verna while Kia India sells models like Seltos, Carens and Sonet in the country. 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Hyundai plans to scale up production capacity, introduce more EVs in India

<keyword id="13751053" type="General" weightage="70" keywordseo="Tata-Passenger-Electric-Mobility" source="Orion">Tata Passenger Electric Mobility</keyword> Ltd. and <keyword id="42034" type="General" weightage="40" keywordseo="jaguar" source="Orion">Jaguar</keyword> Land Rover (<keyword id="45218" type="General" weightage="50" keywordseo="jlr" source="Orion">JLR</keyword>), both 100 percent subsidiaries of <keyword id="42747" type="General" weightage="90" keywordseo="tata-motors" source="Orion">Tata Motors</keyword>, have entered into a Memorandum of Understanding (MoU) for the licencing of Jaguar's EMA platform for the development of the 'premium pure electric' vehicle series 'Avinya'. Pure electric mid-sized SUVs for international markets are to be launched from 2025 onwards, according to a release from Tata Motors. The electric cars, based on the Avinya concept, will now be developed on JLR's Electrified Modular Architecture in exchange for a royalty fee, according to the press release issued on Thursday. "Avinya stands for 'Innovation' and represents our vision for a new paradigm in personal mobility. Being built on an architecture that is equipped with the latest advances in new-age technology, software and artificial intelligence, Avinya will spawn a new breed of world-class EVs, with global standards in efficiency and range. We are delighted to collaborate on the EMA platform with JLR for actualizing this vision," Anand Kulkarni, Chief Product Officer and Head HV Programmes, Tata Passenger Electric Mobility. Thomas Mueller, Executive Director, Product Engineering, JLR, said, "We are proud that JLR's world class engineering expertise, demonstrated by our EMA platform, will help accelerate TPEM's electrification journey. This partnership is a further example of great collaboration within the Tata Group, to share value, knowledge and deliver synergies". The access to JLR's platform will help accelerate TPEM's entry into the high-end EV segment while reducing development cycle time and costs. Part of the USD 128 billion Tata group, Tata Motors, a USD 42 billion organization, is a leading global automobile manufacturer of cars. With operations in India, the UK, South Korea, Thailand, South Africa and Indonesia, Tata Motors' vehicles are marketed in Africa, the Middle East, Latin America, Southeast Asia and SAARC countries.

Tata Motors' subsidiary signs MoU with Jaguar to develop premium EVs

Cavelossim (Goa), Domestic passenger vehicles sales, specially those of SUVs, are expected to remain strong this fiscal despite the pent-up demand and low inventory which drove up sales in the past are no longer there, according to <keyword id="12985777" type="General" weightage="20" keywordseo="tata-motors-passenger-vehicles-ltd-" source="Orion">Tata Motors Passenger Vehicles Ltd.</keyword> and <keyword id="12985776" type="General" weightage="20" keywordseo="tata-passenger-electric-mobility-ltd-" source="Orion">Tata Passenger Electric Mobility Ltd.</keyword> Managing Director <keyword id="1890649" type="General" weightage="50" keywordseo="shailesh-chandra" source="Orion">Shailesh Chandra</keyword>. The company, which sold around 50,000 units of electric passenger vehicles last year, is targeting to reach 1 lakh units this fiscal while it also targets deeper penetration of CNG with the launch of its Altroz iCNG premium hatchback. "So far the indicators are good in terms of demand sustaining at high levels, although the additional moves that we were getting from pent-up demand and low channel inventory that have subdued," <keyword id="796" type="General" weightage="100" keywordseo="chandra" source="Orion">Chandra</keyword> told PTI here. He was responding to a query on the outlook of passenger vehicles sales in India in 2023-24. In the last five to six months, Chandra said two factors -- pent-up demand and low channel inventory, were really driving the demand for the industry. "(Now) these two factors have gone but the key factor, which is the monthly demand that we generate, the flow of customers has sustained at a very healthy level, which is good enough to sustain a retail ability of about 3,10,000 a month (industry wise)," he added. Chandra further said, "Especially in the SUV segment, we are seeing a growth, which is significantly higher, as compared to where the industry growth will be. On the entry side, there has been a slight pressure that is what we see." The growth in the SUV segment has been driven at "a very high pace" by both upgraders and first time buyers opting for such vehicles, he added. In terms of volumes, he said, "Just two years back, we were talking about 2.7 million to 3 million (units for the) industry. It has gone up to 3.9 million (last year). Even if it sustains at a 4.1 million level (this year) it's very healthy, it should help the industry a lot." Chandra, however, added that the "unprecedented" growth of about 27 per cent that industry witnessed last year "will moderate a bit". For <keyword id="42747" type="General" weightage="20" keywordseo="tata-motors" source="Orion">Tata Motors</keyword>, he said the idea would be to sustain the segments where it is present -- hatchback and sedans, "and new nameplate additions should come in the SUVs. That will be the focus". The company's share of SUVs to its total passenger vehicle sales is at around 66 per cent as compared to 43 per cent of the industry, he said, adding, it would grow even further with the launch of Curvv and Sierra, which would be launched in the market in 2024 and 2025, respectively. On electric vehicles, Chandra said Tata Motors has witnessed exponential growth in the last five years to 50,000 units last fiscal from around 500 units in FY19 "The growth journey has been exponential. Now we are on a higher base...the multiples might moderate from three-four times to lower levels, but of course the aspiration would be to be as close to 100,000 (units)," he noted. On the newly launched CNG version of the company's premium hatchback Altroz iCNG, he said the company has addressed one of the most important hurdles faced by CNG models, which is the compromise in the boot space due to the placement of the fuel cylinder, with its twin cylinder technology. Besides, the Altroz iCNG has been provided with good engine performance and premium features like voice command operated sunroof, he added When asked about sales expectations from the new car, he said Tata Motors experienced CNG penetration ranged anywhere between 30 per cent to 50 per cent in its two models Tiago and Tigor, which also have the twin cylinder technology. "Therefore, we expect that initially it might start with 30 per cent penetration and hopefully with greater awareness of this car (Altroz iCNG) being a no-compromise CNG car, as the awareness will increase, I think the demand will continue to grow," Chandra said. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/simple-one-electric-scooter-launched-with-212-km-range-check-out-price-specifications-and-other-details/articleshow/100449367.cms">Simple One electric scooter launched with 212 km range: Check out price, specifications and other details</a> <a href="https://www.businessinsider.in/finance/news/2000-note-withdrawal-how-to-exchange-notes-is-it-a-legal-tender-and-other-questions-answered/articleshow/100412941.cms">₹2,000 note withdrawal – How to exchange them, is it a legal tender and other questions answered</a> <a href="https://www.businessinsider.in/tech/news/apple-app-store-prevented-over-2-billion-in-fraudulent-transactions-last-year-banned-282-million-user-accounts/articleshow/100322718.cms">Apple App Store prevented over $2 billion in fraudulent transactions last year, banned 282 million user accounts</a>

Domestic passenger vehicles sales expected to stay strong this fiscal, says Tata Motors' Chandra

Czech car maker <keyword id="101122" type="General" weightage="80" keywordseo="skoda-auto" source="Orion">Skoda Auto</keyword> has said <keyword id="3658" type="General" weightage="60" keywordseo="india" source="Orion">India</keyword> will become an export hub for the company as it is set to commence exports of vehicle kits for assembly in Vietnam from next year. The company, which posted a whopping 125 percent year-on-year surge in its vehicle sales at 53,721 units in 2022, also sounded hopeful of growing into double-digit this year as well. Similarly, <keyword id="166267" type="General" weightage="60" keywordseo="volkswagen-group" source="Orion">Volkswagen Group</keyword> sales grew 85.48 per cent year-on-year at 1,01,270 units in the previous calendar year. The Group is present through <keyword id="6361542" type="General" weightage="60" keywordseo="skoda" source="Orion">Skoda</keyword> Auto, <keyword id="6361865" type="General" weightage="80" keywordseo="volkswagen" source="Orion">Volkswagen</keyword>, Audi, Porsche and Lamborghini brands under Skoda Auto Volkswagen India Pvt Ltd (SAVWPIL). "India is an absolutely important market as part of our regional strategy of Skoda Auto, and India will become an export hub for Skoda," <keyword id="14798920" type="General" weightage="80" keywordseo="petr-solc" source="Orion">Petr Solc</keyword>, Brand Director at Skoda Auto India told PTI in an interaction. Volkswagen is already exporting vehicles from India to Mexico and South Africa while Skoda Auto is exporting to the Middle East and North Africa. "From next year we will start exporting vehicle kits for assembly in Vietnam," Solc stated. Export is already an important part and will continue to be an important part of the strategy for Skoda and Volkswagen, he stated. Noting that Skoda Auto India for the first time delivered more than 50,000 cars in the domestic market last year, he said "we would like to grow with the market or even faster and our ambition is to grow into double digits." He said that 2022 was specific for the company on account of the Slavia launch and added that "So, there was this kind of a one-time effect of any new model introduction." "Now, we have both models (all-new Slavia sedan and <keyword id="10576650" type="General" weightage="60" keywordseo="kushaq-suv" source="Orion">Kushaq SUV</keyword>) in the market and can now enjoy having both models for the full year in the market," he said. Solc said that the 7-seater updated SUV Kodiaq will also play a role in terms of the company's growth strategy, particularly when there is a much greater supply now. To a question on Audi, which at a point of time was the undisputed leader in the domestic premium luxury car market, Christian Cahn Von Seelen, Member of the Board for sales, marketing and digital at SAVWPIL said that its growth has been "impressive" in terms of volume in 2022 compared to the year earlier and that was still hampered significantly by the chip supply situations even in Europe. "So the growth of Audi is impressive, and we are definitely planning to continue...So as much (as) I think, I can say we will see loads of new product introductions here on the other side." On the company's EV foray in the Indian market, Solc said it depends on the development of the segment in the country. Late last month, the European car maker Skoda announced its EV roadmap, which includes six electric cars in a phased manner by 2026. "We as a manufacturer and Skoda, we will be ready. And if we see good traction, we are talking about the prognosis that the car market or the EV can go within 5-10 years, up to 20, maybe 30 per cent. We don't know necessarily," he said. "So this could be part, we would like to be also within that range, but depends again, on the response. If we see more manufacturers going, there is an infrastructure built here and there's an acceptance from the customers to buy electric cars, and we will be ready," he said. He said that the company is discussing which models it should bring in the future also to India as an EV. "And if we see the potential in the market, we will bring them as well. So I cannot say necessarily what the percentage will be. But if the market is going towards more than 20 per cent of the electric vehicles of the total market, we would like to penetrate within the EV segment," Solc added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/india-adds-1839-covid-infections-active-cases-down-to-25178/articleshow/100063997.cms">India adds 1,839 Covid infections, active cases down to 25,178</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/adani-group-stocks-tumble-after-msci-tweak-market-capitalisation-falls-by-23000-crore/articleshow/100066101.cms">Adani group stocks tumble after MSCI tweak, market capitalisation falls by ₹23,000 crore</a>

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