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<keyword id="19906967" type="General" weightage="20" keywordseo="Tata-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Motors" meta.hostid="153" meta.entityid="Tata Motors">Tata Motors</keyword> on Wednesday said it has tied up with <keyword id="20243465" type="General" weightage="20" keywordseo="Delta-Electronics-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Delta Electronics India" meta.hostid="153" meta.entityid="Delta Electronics India">Delta Electronics India</keyword> and <keyword id="22863979" type="General" weightage="20" keywordseo="Thunderplus-Solutions" source="keywords" meta.keywordsubtype="org" meta.entityname="Thunderplus Solutions" meta.hostid="153" meta.entityid="Thunderplus Solutions">Thunderplus Solutions</keyword> to set up <keyword id="20111395" type="General" weightage="20" keywordseo="charging-infrastructure" source="keywords">charging infrastructure</keyword> for its range of <keyword id="21658969" type="General" weightage="20" keywordseo="electric-commercial-vehicles" source="keywords">electric commercial vehicles</keyword> (CVs). As part of the MoU inked between the parties, 250 new fast-charging stations for electric commercial vehicles would be set up across the country. Strategically located in and around over 50 cities, including Delhi, Mumbai, Chennai, Bengaluru, Pune, and Kochi, among others, these new charging stations will significantly increase the existing network of 540 commercial vehicle charging points, Tata Motors said in a statement. Basis its understanding of the commercial EV movement, the commercial vehicle major will recommend optimal locations and nearest dealerships for setting up the fast-charging stations, the company said. While Delta Electronics will supply the necessary hardware, Thunderplus Solutions will install and operate them, it added. E-commerce companies, parcel and courier service providers, among other industries, are increasing the adoption of commercial EVs for last-mile deliveries. "Expanding the available charging infrastructure on high-use routes will encourage more customers to opt for electric commercial vehicles and improve vehicle uptime, resulting in higher revenues and better profitability, while contributing towards a cleaner, greener environment," Tata Motors Commercial Vehicles Vice President and Business Head -- SCV &amp; PU -- Vinay Pathak said. Currently, Tata Motors sells Ace EVs to cater to various last-mile delivery requirements. The model is supported by over 150 electric vehicle service centres across the country. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-gained-over-3-million-subscribers-in-june-vi-lost-nearly-a-million/articleshow/112670406.cms">Reliance Jio and Airtel gained over 3 million subscribers in June, Vi lost nearly a million</a> <a href="https://www.businessinsider.in/tech/mobile/news/the-iphone-pro-models-will-be-made-in-india-for-the-first-time-this-year/articleshow/112653019.cms">The iPhone Pro models will be made in India for the first time this year</a> <a href="https://www.businessinsider.in/stock-market/webstories/orient-technologies-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112646237.cms">Orient Technologies IPO – Price band to risk factors, all you need to know</a>

Tata Motors ties up with two firms to expand charging infra for electric CVs

Imagine a bustling jewellery market teeming with diamonds and gold. Amidst this glittering chaos, a small stall is trying to sell handcrafted gemstones. Even as newer and shinier outlets keep cropping up, all vying for attention, this gemstone store offers some of the oldest yet valuable jewels at a discount. Though they lack immediate sparkle, these rare gems reveal their value to the discerning buyer. This is how South Korea appears for many experts in global capital markets: a trove of undervalued gems, overshadowed by brighter, more aggressively marketed investment options. This undervaluation, known as the "<keyword id="24399183" type="General" weightage="20" keywordseo="korean-discount" source="keywords">Korean Discount</keyword>," reflects how South Korean companies are priced much lower than their global peers despite robust fundamentals — strong financial performance and consistent profitability. Contributing factors are many, ranging from opaque governance structures to geopolitical risks. But the fact stays, if you are a seasoned conglomerate listed in South Korea, you are likely undervalued. <keyword id="19906087" type="General" weightage="20" keywordseo="hyundai" source="keywords">Hyundai</keyword> Motor India Ltd. (HMIL), a subsidiary of the Korean giant Hyundai Motor Company (HMC), recently sought to escape this valuation trap by listing in India, a market where investor optimism commands premium pricing. But its valuation raised many eyebrows! Now that a month and a half has gone by since its listing, time is apt to examine if this gamble paid off. Will <keyword id="93460" type="General" weightage="100" keywordseo="hyundai-india" source="Orion">Hyundai India</keyword> justify its high valuation? Or does the listing highlight broader questions about the overheated valuation dynamics of Indian markets? A record-breaking <keyword id="19898327" type="General" weightage="20" keywordseo="ipo" source="keywords">IPO</keyword> but questions remain Hyundai Motor India’s mega Initial Public Offering (IPO), launched in October 2024, broke records by raising ₹27,870 crore, making it India’s largest-ever IPO. The offer was oversubscribed by 2.37 times, highlighting robust demand. But many investors remained sceptical: was this IPO an honest attempt to expand Hyundai’s footprint in India or was it trying to offer a way to cashout for existing investors and promoters? Or perhaps, is it an attempt by the Korean chaebol — a large family-owned business conglomerate — to break free from the aforementioned “Korean Discount”? When shares listed on October 22, these concerns seemingly weighed on the minds of most investors and the stock promptly dipped 5% below the issue price on the day. A tepid grey market performance had already foreshadowed this muted debut in the Indian markets. Now, after almost 35 trading sessions on Indian market, the stock remains almost exactly at price it listed on October 22 at Rs 1820—no gain, no loss. <h3>The gamble of hyper-valuation</h3>Much of this hesitation stemmed from Hyundai’s valuation. On listing, Hyundai was valued at $18 billion, positioning it as one of India’s most valuable automotive companies. However, such high valuations often temper investor enthusiasm, resulting in more cautious short-term outcomes. For most investors, the Price-to-Earnings (P/E) ratio is the most preferred parameter to gauge if a company is overvalued or undervalued. With a P/E ratio of 26.3, HMIL was priced significantly above the Indian automotive industry average of 24.4. Globally, automotive companies operate with much lower P/E ratios, reflecting mature market conditions and slower growth trajectories. HMIL’s South Korean parent Hyundai Motor Company (HMC) trades at a meagre 3.07, believe it or not! For Indian investors, the high premium hinted at overvaluation despite Hyundai’s strong domestic position. Such stark difference in valuation obviously sparked debates — is the Indian market assigning a premium to Hyundai Motor India’s growth potential, or is it simply reflecting the general exuberance around the prospects of the Indian economy? Another concern is the allocation of IPO proceeds. Hyundai’s IPO was structured as an offer for sale (OFS), meaning all funds raised would flow to the parent company rather than Hyundai India’s operations. Although Hyundai has committed to investing in R&amp;D for EVs and hybrids, critics argue that the lack of immediate reinvestment in India’s operations reflects a missed opportunity for domestic growth. Despite the early disappointment, Hyundai was confident that the valuation was fair. It did have some factors going for it, in addition to the fact that other auto giants like Mahindra &amp; Mahindra and <keyword id="19909974" type="General" weightage="20" keywordseo="maruti-suzuki" source="keywords">Maruti Suzuki</keyword> command even higher P/E ratios. And looking at the company fundamentals, it does seem like Hyundai is playing a long-term game. <h3>Hyundai in India: A proven track record</h3>Despite the initial stumble, Hyundai India’s long-term story is compelling. Since entering the Indian market in 1996, the automaker has sold over 8 million vehicles and firmly occupies the second spot in the domestic passenger vehicle market, trailing only Maruti Suzuki. Hyundai’s blockbuster SUV offerings, like the Creta and Venue, have been critical in building this dominance. Despite some challenge from Maruti Suzuki Brezza and Tata Punch, Creta has retained the tag of ‘most-selling SUV in India’ successfully so far this year. <div type="image" title="Hyundai" agency="Business Insider India" msid="116156234" hostid="261" caption="&amp;lt;p&amp;gt;Selling over 17,000 units per month on average this year, Creta has edged past major competitors to be the most-selling SUV in India in 2024. As Indian consumers preference continues to shift gradually towards premium products over budget segments, Hyundai stands to benefit (Wikimedia Commons / Canva)&amp;lt;/p&amp;gt;"></div> Selling over 17,000 units per month on average, Creta has edged past major competitors to be the most-selling SUV in India in 2024. As Indian consumers preference continues to shift gradually towards premium products over budget segments, Hyundai stands to benefit (Wikimedia Commons / Canva) Hyundai India’s market share of 14% in October 2024 underscores its clout. The company’s ability to tap into India’s premiumisation trend, where consumers increasingly prefer high-end vehicles, positions it well for growth. With plans to expand in electric vehicles (EVs) and hybrid technology, Hyundai is poised to capitalise on both domestic demand and export opportunities. The company’s ability to capitalize on its strong brand, extensive dealer network, and leadership in segments like SUVs and exports will determine its future performance. Hyundai’s strategic focus on expanding electric vehicle production also aligns with global trends towards sustainability, potentially positioning it as a leader in the segment. By listing in India, Hyundai aims not only to expand its operations but also to make India a global manufacturing and export hub for its products, especially SUVs and EVs. Therefore, despite early setbacks, Hyundai’s gamble seems to have paid off. The stock has rebounded, gaining 5% in the past month. More good news came in this week, as positive projections from Morgan Stanley and JPMorgan forecast an impressive 17-28% upside for the stock over the next year, reflecting growing investor optimism. <h3>A strategic pivot from the Korean Discount?</h3>The Korean Discount has long plagued South Korea’s chaebols, including Hyundai. Experts attribute this to several factors: <ul> <li>Chaebol Governance: South Korea’s conglomerates, known as chaebols, are often criticised for opaque governance structures and excessive family control.</li> <li>Geopolitical Risks: Tensions with North Korea contribute to investor caution, adding a layer of perceived risk.</li> <li>Limited Domestic Liquidity: South Korea’s relatively small investor base can constrain market activity and valuation potential.</li> </ul> By listing in India, Hyundai sought to unlock better valuations for its subsidiary, leveraging the optimism of Indian markets. India’s stock market has a trailing P/E ratio of 24.4, far above South Korea’s Kospi average of 16-17. The Indian market’s appetite for high-growth stories provides a fertile ground for companies like Hyundai to escape the valuation constraints of their home market. A successful IPO could encourage other such conglomerates to follow suit, setting a precedent. While Hyundai India has a robust track record, its future success hinges on navigating key challenges: <ul> <li>Supply Chain Vulnerabilities: Hyundai relies heavily on its Chennai plant, making it vulnerable to disruptions.</li> <li>Intensifying Competition: Domestic rivals like <keyword id="19906967" type="General" weightage="20" keywordseo="tata-motors" source="keywords">Tata Motors</keyword> and MG Motors are making aggressive inroads into the EV market.</li> <li>Policy Risks: The automotive sector’s reliance on government incentives for EVs and hybrids adds a layer of unpredictability.</li> </ul> High valuations come with risks. Hyundai will need to prove that it can sustain its growth trajectory in India, fend off competition from established players like Maruti Suzuki and Tata Motors, and navigate challenges such as supply chain disruptions and regulatory hurdles. If Hyundai successfully capitalises on its strong brand and market leadership, it could not only redefine its value but also serve as a case study for other Korean companies seeking better recognition and valuations in global markets. <h3>Is Hyundai saga a reflection of overheated Indian markets?</h3>The bigger question here is, does Hyundai’s IPO highlights a broader narrative about Indian markets’ premium valuations? With a trailing P/E ratio of 24.4, Nifty 50 index is among the highest in emerging markets. India’s stock markets consistently command a premium due to robust retail participation, strong economic growth prospects, and a burgeoning middle class. While this premium reflects optimism about India’s long-term growth story, it also signals potential risks of overvaluation, particularly in sectors like technology, automotive, and consumer goods. With a record ₹94,017 crore outflow by Foreign Portfolio Investors (FPIs) in October 2024, concerns about overheated valuations are mounting. Sustaining such unprecedented valuations required companies to consistently perform above global averages, and retaining robust earnings growth quarter after quarter remains a challenge in today’s uncertain world. For Hyundai, the high valuation is both an opportunity and a risk. While it underscores investor confidence, it narrows the margin of safety, making the stock vulnerable to corrections during economic downturns. Take for example, the high-profile IPO of Life Insurance Corporation of India (LIC) that raised over ₹21,000 crore. Its listing was met with disappointment as the stock began trading at a 9% discount to its issue price, and subsequent performance has remained subdued. LIC’s post-IPO journey also highlights how inflated valuations can lead to long-term underperformance, as the stock gave only 12% return over the past 30 months when even the Nifty 50 index went up by over 44%. This happens when when the company's growth narrative fails to align with its pricing. Despite being a household name with a dominant market share, LIC's stock has struggled to meet expectations, partly due to concerns about its operating efficiency and the limited use of IPO proceeds for growth initiatives. Make no mistake, Hyundai Motor India’s IPO is a landmark event! It showcases the potential for Korean companies to leverage emerging markets like India for better valuations. It also shows that strong fundamentals can help justify a company such premium valuations even amidst bearish economic prospects. However, it also serves as a cautionary tale about the risks of overvaluation. For Hyundai, the next steps involve proving its long-term growth story, navigating competitive challenges, and maintaining investor confidence. For Indian markets, Hyundai’s IPO underscores the need to balance optimism with realistic expectations as they continue to evolve as global investment hotspots. To sustain the country’s economic narrative as a land of unmatched opportunities, corporate India must work on improving long-term fundamentals and mitigating long-term risks. As global investors watch closely, Hyundai India’s success or failure could shape how international companies view India as a listing destination in the years to come.

Tackling the 'Korean Discount': A deep dive into curious case of Hyundai Motor India's market listing

New Delhi, Global electrification, previously driven by strong electric vehicle sales, is now showing signs of growth moderation despite supply chain normalisation and price reductions by OEMs, as per a report by <keyword id="20309623" type="General" weightage="20" keywordseo="jm-financial-institutional-securities" source="keywords">JM Financial Institutional Securities</keyword>. Global automakers like <keyword id="19911527" type="General" weightage="20" keywordseo="mercedes" source="keywords">Mercedes</keyword>, Ford, GM, VW are scaling back EV investments and turning towards <keyword id="19906936" type="General" weightage="20" keywordseo="hybrids" source="keywords">hybrids</keyword> due to shifting consumer preferences and challenges like inadequacy and slow pace of charging infrastructure expansion. We believe the situation is no different in India, the analysts said. <keyword id="19906967" type="General" weightage="20" keywordseo="tata-motors" source="keywords">Tata Motors</keyword> reduced its EV sales estimate and prices recently to boost adoption, citing similar hurdles. MSIL, with its tech-agnostic approach (Hybrids, EVs, CNG, Flex-fuel, etc.), is well-positioned (&amp; hedged) amidst slowing pace of electrification, the report said. Reports indicate of MSIL's strong Hybrid model launch pipeline going forward (five models in next 2-3 years). Tax rationalisation on hybrids could act as a fillip and shift consumer preference towards this choice of powertrain, it added. Till last year, global electric vehicle sales continued to outpace supplies (partially owing to semiconductor shortages) with OEs' orderbook piling to record levels. However, despite normalisation of supply chain, pace of electrification seems to have moderated. Reduction in EV prices (by <keyword id="19895433" type="General" weightage="20" keywordseo="tesla" source="keywords">Tesla</keyword>, Ford etc.) to drive wider adoption also isn't helping. Global automakers like Mercedes, Ford, GM, VW have deferred EV related investments, reduced their EV sales guidance indicating moderation in EV growth going ahead, the research said. Few of these auto OEMs are turning their focus back to Hybrids amidst shifting consumer preference. Domestic demand scenario for electric PVs is no different. Recently, Tata Motors (market leader with 73% share) reduced its FY24 EV sales estimate by 20% (to 75-80K units) and also cut prices by upto Rs 125K/vehicle to drive wider adoption. Lack of adequate charging infra and hesitant customers (to pay premium over ICE vehicles) are the primary reasons for slower EV adoption, the report said. Currently, MSIL is working on multiple technologies (Hybrids, EVs, Flex-fuel and Bio-gas in addition to ICE/CNG) as the company believes multiple technologies can co-exist in the medium-to-long term. Its current tech-agnostic approach is again a well thought-out approach against committing resources to a single technology, the report said.

Global automakers scale back electric vehicles, turn towards hybrids

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<ul><li><keyword id="42747" type="General" weightage="80" keywordseo="tata-motors" source="Orion">Tata Motors</keyword> has signed a memorandum of understanding (MoU) with cab aggregator <keyword id="1042120" type="General" weightage="100" keywordseo="uber" source="Orion">Uber</keyword> to supply 25,000 XPRES-T electric cars. </li><li>Uber will integrate these cars in its premium category service, the two companies said in a joint statement. </li><li>Uber will kick off the electrification of its fleet in Delhi NCR, Mumbai, Kolkata, Chennai, Hyderabad, Bengaluru and Ahmedabad. </li></ul>Tata Motors has signed a memorandum of understanding (MoU) with cab aggregator Uber to supply 25,000 XPRES-T electric cars. Uber will integrate these cars in its premium category service, the two companies said in a joint statement on Monday. Uber will kick off the electrification of its fleet in Delhi NCR, Mumbai, Kolkata, Chennai, Hyderabad, Bengaluru and Ahmedabad. The deliveries of the XPRES-T electric car from Tata Motors will start this month, and the induction in Uber’s fleet will be done in a phased manner. “Offering customers our environmentally friendly electric vehicle (EV) ride experiences via Uber’s Premium Category service, will accelerate the adoption of green and clean personal ride sharing. The XPRES-T EV is a very attractive option both for customers and operators,” said Shailesh Chandra, MD, Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility. Tata Motors’ shares closed higher amid a wider market decline, gaining 0.7% to close at ₹443 a piece. The company’s stock has gained 12% in 2023 so far. <cmsannotation type="cmsannotation" annotationid="50,000 EVs rolled out so far, says Tata Motors" comment="subhead" text="50,000 EVs rolled out so far, says Tata Motors">50,000 EVs rolled out so far, says Tata Motors</cmsannotation> Tata Motors said that it has rolled out 50,000 EVs from its manufacturing plants till date across the personal mobility and fleet segments. “This partnership will further cement our market position in the fleet segment,” Chandra added. The company launched the <keyword id="13603230" type="General" weightage="80" keywordseo="xpres" source="Orion">XPRES</keyword> electric car brand in 2021 exclusively for fleet operators. The XRES-T EV is the first car under this brand and comes in two range options – 277 kilometres and 315 kilometres. Since it is aimed at fleet operators, it can charge from 0-80% in 59 minutes. “Uber is committed to bringing sustainable, shared mobility to India, and this partnership with Tata Motors is a major milestone on that journey. It represents the largest EV partnership yet between an automaker and a ridesharing platform in India,” said Prabhjeet Singh, president, Uber India and South Asia. In addition to fast charging, the XPRES-T can also be charged using a standard 15 amp plug point, providing flexibility to Uber and its driver partners. Recently, Ola founder and chief executive officer Bhavish Aggarwal said that the cab aggregator was planning to launch a fleet of 10,000 electric cars. BluSmart, another cab operator, has a 100% electric vehicle fleet – which currently stands at 2,200 cars. It operates in Gurugram, and areas of Delhi and Bengaluru. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/adani-group-stocks-meltdown-continues-on-monday/articleshow/98084715.cms">Adani group stocks meltdown continues on Monday – Adani Enterprises sees the biggest decline</a> <a href="https://www.businessinsider.in/finance/news/inflation-expected-to-cool-down-but-economists-expect-another-rate-hike-after-january-shocker/articleshow/97983231.cms">Inflation expected to cool down but economists expect another rate hike after January shocker</a> <a href="https://www.businessinsider.in/business/corporates/news/maggi-kitkat-maker-nestle-india-reports-highest-domestic-growth-in-a-decade-in-fy22/articleshow/97974283.cms">Maggi &amp; KitKat maker Nestle India reports highest domestic growth in a decade in FY22</a>

Tata Motors and Uber sign MoU to induct 25,000 XPRES-T electric cars

<keyword id="19895436" type="General" weightage="20" keywordseo="Adani-Green-Energy-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Green Energy Ltd" meta.hostid="261" meta.entityid="Adani Green Energy Ltd">Adani Green Energy Ltd</keyword> (AGEL) on Friday posted a 38.85 per cent decline in consolidated net profit to Rs 310 crore for the March quarter, mainly on account of increased expenses. Its net profit was Rs 507 crore in the January-March period of the preceding 2022-23, the company said in an exchange filing. During the fourth quarter of FY24, the company's total income fell to Rs 2,806 crore from Rs 2,977 crore a year ago. The company's expenses surged to Rs 2,379 crore during the period under review, as against Rs 2,053 crore in the year-ago period. In a separate statement, the company said its operational capacity grew at 35 per cent year-on-year to 10,934 MW with greenfield addition of 2,848 MW renewable capacity, including 2,418 MW solar and 430 MW wind projects. With this, AGEL became the first company in India to cross the 10,000 MW <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword> capacity. AGEL's 10,934 MW operational portfolio will power more than 5.8 million homes and avoid about 21 million tonnes of CO2 emissions annually. The sale of energy increased 47 per cent year-on-year to 21,806 million units in FY24, primarily backed by strong capacity addition, consistent solar CUF (capacity utilisation factor) and improved wind and hybrid CUF. The revenue from power supply rose 23 per cent to Rs 1,575 crore from Rs 1,941 crore earlier. <keyword id="19919864" type="General" weightage="20" keywordseo="Adani-Green-Energy" source="keywords">Adani Green Energy</keyword> Ltd Chief Executive Officer Amit Singh said, "We have deployed the first 2 GW of the 30 GW of renewable capacity under construction at Khavda in just 12 months of breaking ground. "Our highest capacity addition of 2.8 GW in FY24 demonstrates our strong execution capabilities, and we are confident of continuing the momentum." The company aims to commission at least 5 GW of hydro-pumped storage projects by 2030, and set a higher target of 50 GW RE capacity by 2030, which will contribute towards India's non-fossil fuel capacity target of 500 GW, he said. AGEL further said it has commenced construction work on its first hydro pumped storage project (PSP) of 500 MW on the Chitravathi river. The project is located at Peddakotla in Sri Sathya Sai district of Andhra Pradesh. The existing reservoir will act as the lower reservoir and the upper reservoir is to be developed. The generation capacity will be 500 MW with estimated 6.2 generation hours in a day. All necessary approvals, including the final DPR approval are in place and financial closure has been achieved for the project. Part of Adani Group, AGEL is India's largest and one of the leading renewable energy companies in the world enabling clean energy transition. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-crater-in-april-2024-as-prices-increase-amid-reduced-subsidies/articleshow/109806054.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-crater-in-april-2024-as-prices-increase-amid-reduced-subsidies/articleshow/109806054.cms" target="_blank">Electric two-wheeler sales crater in April 2024 as prices increase amid reduced subsidies</a><a href="https://www.businessinsider.in/sports/webstories/t20-world-cup-here-are-the-squads-announced-by-major-participating-countries-so-far/slidelist/109787165.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/t20-world-cup-here-are-the-squads-announced-by-major-participating-countries-so-far/slidelist/109787165.cms" target="_blank">T20 World Cup: Here are the squads announced by major participating countries so far</a><a href="https://www.businessinsider.in/business/auto/news/april-auto-sales-hyundai-continues-to-hold-the-second-position-as-tata-motors-inches-closer/articleshow/109777834.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/april-auto-sales-hyundai-continues-to-hold-the-second-position-as-tata-motors-inches-closer/articleshow/109777834.cms" target="_blank">April auto sales – Hyundai continues to hold the second position as Tata Motors inches closer</a>

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<keyword id="45008" type="General" weightage="80" keywordseo="tata-power" source="Orion">Tata Power</keyword> CEO and MD Praveer <keyword id="6358012" type="General" weightage="80" keywordseo="sinha" source="Orion">Sinha</keyword> announced a Rs 6,000 crore capital investment by the company in <keyword id="6357961" type="General" weightage="100" keywordseo="odisha" source="Orion">Odisha</keyword>. Speaking at the Make in Odisha Conclave here on Thursday, Sinha said the four power discoms of Odisha, where Tata Power has a majority stake, are committed to Rs 6,000 crore capex investment in the next five years. Sinha said the company will also set up 1,000 electric vehicle (EV) charging points, 1,00,000 solar pumps, microgrids, rooftop and floating <keyword id="6453229" type="General" weightage="20" keywordseo="solar-plants" source="Orion">solar plants</keyword> in the next five years. He welcomed the Odisha government's Renewable Energy Policy 2022 unveiled at the Make In Odisha Conclave here. The Tata Power CEO said the company has been engaged in power distribution across Odisha and is committed to ensure ease-of-doing business through quality power supply. "Tata Power is committed to ensure 'Udyog Ru Pragati' (progress through entrepreneurship) by offering high-quality and affordable power supply to enable a conducive environment for industrial development. Our clean and green energy products and solutions in e-mobility, decentralised generation, agriculture, and demand side management will further ensure an all-round sustainable development of the state," Sinha said. He said Tata Power is also working with Bhubaneswar Smart City Limited (BSCL) in deploying charging infrastructure at multi-level car parking lots and public utilities like hospitals, universities, malls, and at important city hubs. The company is also in early stages to explore the development of green hydrogen hubs in the Paradeep region to meet industrial demands, he said, adding that Tata Power is also working towards the solarization of the agriculture sector in association with the state government. The company has already installed over 700 solar pumps in addition to 1,200 dual pump for community drinking application across the state. It has planned to install 30,000 solar pumps over the next five years, he said. Welcoming the state's new Renewable Energy Policy 2022, Sinha said the incentives provisions like electricity duty waiver, wheeling charge waiver, cross subsidy surcharge waiver, state transmission utility charge waiver are very encouraging. He said Tata Power is working towards the electrification of remote villages by setting up microgrids. A technical feasibility study has been carried out in several villages in the Mayurbhanj District to set up microgrids for transformation of the rural/ tribal economy.

Tata Power to invest Rs 6,000 crore in 5 years Odisha towards EV charging, microgrids and more

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<ul><li><keyword id="42747" type="General" weightage="20" keywordseo="tata-motors" source="Orion">Tata Motors</keyword> will operate and maintain Tata Starbus for a period of 12 years, as per the contract.</li><li>Tata’s Starbus is developed for sustainable and comfortable travel.</li><li>Earlier, Tata Motors received orders for 1,500 electric buses from Delhi Transport Corporation (DTC) and 1,180 electric buses from West Bengal Transport Corporation (WBTC).</li></ul>Tata Motors on Thursday bagged an order to supply 921 electric buses to the Bengaluru Metropolitan Transport Corporation (<keyword id="6371543" type="General" weightage="20" keywordseo="bmtc" source="Orion">BMTC</keyword>). Tata Motors will supply, operate and maintain the 12-metre Tata Starbus for a period 12 years, as per the contract. Tata Starbus is an indigenously developed vehicle that is designed for sustainable and comfortable travel. G. Sathyavathi, Managing Director, BMTC, said, "This order is paramount for Bengaluru's growing need for clean and sustainable urban mass mobility. BMTC is happy to induct modern electric buses that will attract maximum ridership for eco-friendly public transportation." This is the third biggest order that Tata Motors has bagged from a state government in the last one month. Earlier, Tata Motors received orders for 1,500 electric buses from Delhi Transport Corporation (DTC) and 1,180 electric buses from West Bengal Transport Corporation (WBTC). Rohit Srivastava, Vice President (Product Line - Buses), Tata Motors, said, ‘We have been at the forefront of developing smart, modern and energy efficient commercial passenger vehicles, catering to the needs of future mobility. We are confident that these environment-friendly electric buses will be beneficial for the residents of Bengaluru.’ SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/new-maruti-suzuki-alto-k10-brings-premium-suv-features-in-a-compact-car/slidelist/93636927.cms">New Maruti Suzuki Alto K10 brings premium SUV features in a compact car</a> <a href="https://www.businessinsider.in/science/research/news/this-herb-is-the-magic-fertilizer-needed-to-grow-vegetables-on-mars/articleshow/93635777.cms">This herb is the magic fertilizer needed to grow vegetables on Mars</a>

Tata Motors bags a 921 e-bus contract from Bengaluru Metropolitan Transport Corporation

<ul><li><keyword id="44883" type="General" weightage="20" keywordseo="maruti-suzuki" source="Orion">Maruti Suzuki</keyword> India remains "vulnerable to supply side bottlenecks", according to a senior company official.</li><li>He noted that the company is working to do away with certain chips in some models/trims where the requirement is superfluous.</li><li>"We do not have full year visibility but at least Q1 will be tough and broadly the uncertainty continues," the official added.</li></ul><keyword id="6912" type="General" weightage="20" keywordseo="maruti" source="Orion">Maruti</keyword> Suzuki India remains "vulnerable to supply side bottlenecks" this fiscal even as it looks to source electronic components through multiple sources, according to a senior company official. The country's largest carmaker, which could not produce around 1.7 lakh units last fiscal due to semiconductor shortage, is also coming up with measures to reduce the usage of certain kinds of chips in its cars. "The problem (chip shortage) is a global one..it could affect different models, different companies, different modules differently..all our efforts are to organise supplies through multiple sources," Maruti Suzuki India (MSI) Executive Officer (Corporate Affairs) Rahul Bharti said in an analyst call. He noted that the company is working to do away with certain chips in some models/trims where the requirement is superfluous. "If there is a particular semiconductor in a particular variant of a model which is superfluous and not required..so we are removing all such needs so that our consumption is minimum. All such efforts are going on including negotiations at global scale. Having said that we are still vulnerable to supply side bottlenecks," Bharti noted. When asked about the company position in the ongoing fiscal, he said: "We do not have full year visibility but at least Q1 will be tough and broadly the uncertainty continues." Semiconductors are silicon chips that cater to control and memory functions in products ranging from automobiles, computers and cellphones to various other electronic items. The usage of semiconductors in the auto industry has gone up globally in recent times with new models coming with more and more electronic features such as bluetooth connectivity and driver-assist, navigation and hybrid-electric systems. Replying to a query, Bharti confirmed that the strong hybrid technology introduced in Grand Vitara could be launched in more models. "We have got a very positive response..we plan to bring it (strong hybrid) in more models also," he stated. On sales growth outlook for this fiscal, Bharti said industry body SIAM estimates the passenger vehicle industry to grow between 5-7 per cent. "Maruti Suzuki should grow well beyond this. So we would be better than the industry," he noted. MSI CFO Ajay Seth noted that the company has lined up Rs 8,000 crore capex in the current fiscal with capital set to go into the construction of the Sonipat plant, development of new models and annual maintenance of existing infrastructure. He noted that the company has strengthened its presence in the sports utility vehicle segment with Brezza and Grand Vitara thereby increasing its market share in the vertical. "Moving forward with Jimny and Fronx, the SUV portfolio of the company will be further strengthened. With this the company aims to secure a leadership position in the SUV segment," Seth said. He noted that the company believes in offering products and technologies which are relevant to the Indian market context. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/upcoming-new-cars-and-suvs-in-india-in-may-2023/slidelist/99842426.cms">Upcoming cars expected to launch in India in May 2023</a> <a href="https://www.businessinsider.in/business/auto/news/mg-comet-ev-vs-tata-tiago-ev-which-electric-car-should-you-buy-under-10-lakh/slidelist/99806597.cms">MG Comet EV vs Tata Tiago EV – which electric car should you buy under ₹10 lakh?</a> <a href="https://www.businessinsider.in/business/auto/news/maruti-suzuki-fronx-vs-brezza-comparison-which-car-should-you-buy-under-10-lakh/slidelist/99729841.cms">Maruti Suzuki Fronx vs Brezza – which car should you buy under ₹10 lakh?</a>

Maruti Suzuki remains vulnerable to supply side bottlenecks as uncertainty continues: Official

SoftBank Group-backed <keyword id="4393078" type="General" weightage="80" keywordseo="ola-electric" source="Orion">Ola Electric</keyword> is in talks with multiple global suppliers to build a <keyword id="10272150" type="General" weightage="20" keywordseo="battery-cell-manufacturing" source="Orion">battery cell manufacturing</keyword> plant in India with a capacity of up to 50-gigawatt hours, sources said. As part of its broader electrification push, the firm plans to invest in companies with advanced cell and battery technology, alongside the 50 Gwh battery plant. <keyword id="6354720" type="General" weightage="100" keywordseo="ola" source="Orion">Ola</keyword> Electric needs 40 Gwh of battery capacity to power 10 million electric scooters annually. The remainder will be for its electric cars, which the company plans to manufacture in the future. Sources said the cell battery plant may cost around USD 1 billion (over Rs 7,700 crore) and may be built with an initial capacity of 1 Gwh, which will be expanded in the future. Over 40 global suppliers are already in Bengaluru to meet with Ola founder and CEO <keyword id="1543567" type="General" weightage="50" keywordseo="bhavish-aggarwal" source="Orion">Bhavish Aggarwal</keyword> at the company's headquarters and are also visiting the Ola Futurefactory in Krishnagiri, Tamil Nadu this week, sources aware of the matter said. Ola Electric, they said, has initiated talks with global suppliers from Germany, Korea, Japan and other hubs to fuel its battery manufacturing ambitions. It currently imports its battery cells from South Korea. Companies like Drr and Siemens also seem to be on the list of suppliers. The battery cell manufacturing sector is dominated by the likes of CATL, LG, Energy Solutions, and Panasonic, which supply to automakers such as Tesla and Volkswagen. Industry experts believe that one of the world's youngest EV companies is keen to begin cell manufacturing by next year. Aggarwal has already stated that India can soon replace China and emerge as the global hub for electric vehicles (EVs). Towards this end, Ola plans to develop the entire ecosystem -- cell and battery tech, global supply chains, interconnected as well as autonomous vehicle technologies. Ola Electric is the only Indian auto and EV company that has been selected by the government under its ambitious Rs 80,000 crore cell PLI scheme to set up an advanced cell manufacturing factory in 2 years. Its cell Production Linked Incentive (PLI) bid was for the maximum allowed bid capacity of 20 GWh. According to sources, Ola is also looking to set up an even larger 50 GWh gigafactory and a battery innovation centre to support its two-wheeler and four-wheeler roadmap for India and the world. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/top-selling-cars-in-india-in-may-2022-maruti-tata-and-hyundai-cars-in-top-10/slidelist/91956448.cms">6 out of 10 top selling cars in India in May 2022 are from Maruti Suzuki</a> <a href="https://www.businessinsider.in/business/auto/news/ola-okinawa-and-hero-electric-sales-down-in-may-after-a-spate-of-fire-and-other-incidents/articleshow/91934461.cms">Ola, Okinawa and Hero Electric sales crater in May after a spate of fire and other incidents</a> <a href="https://www.businessinsider.in/business/auto/news/auto-sales-may-2022-tata-motors-mahindra-continue-their-growth-maruti-suzuki-bounces-back/articleshow/91940740.cms">Auto sales data May 2022: Tata Motors, Mahindra continue their growth, Maruti Suzuki bounces back</a>

Ola Electric is reportedly in talks with global suppliers to build a battery cell manufacturing unit in India

<ul><li> Production at the new gigafactory is due to start in 2026.</li><li><keyword id="6354362" type="General" weightage="50" keywordseo="jaguar-land-rover" source="Orion">Jaguar Land Rover</keyword> will be the anchor customer of the new gigafactory.</li><li>The new gigafactory with an initial output of 40GWh will be one of the largest in Europe.</li></ul> The UK government on Wednesday announced that the <keyword id="6355725" type="General" weightage="80" keywordseo="tata-group" source="Orion">Tata Group</keyword> is to invest over 4 billion pounds in setting up a new electric vehicle (EV) battery plant, or gigafactory, in Britain which will create thousands of jobs across the supply chain. British Prime Minister <keyword id="221875" type="General" weightage="70" keywordseo="rishi-sunak" source="Orion">Rishi Sunak</keyword> hailed it as an "incredibly proud" moment for the country's automotive industry and described it as a testament to the strength of the UK car manufacturing industry and its skilled workers. <keyword id="42747" type="General" weightage="60" keywordseo="tata-motors" source="Orion">Tata Motors</keyword> owns UK-based luxury carmaker Jaguar Land Rover (JLR), which will be the anchor customer of the new gigafactory with an initial output of 40GWh - making it one of the largest in Europe. Production at the new gigafactory is due to start in 2026 and is pitched as a key driver behind Sunak's priority to grow the UK economy. "Tata Group's multi-billion-pound investment in a new battery factory in the UK is a testament to the strength of our car manufacturing industry and its skilled workers," said Sunak. "With the global transition to zero-emission vehicles well underway, this will help grow our economy by driving forward our lead in battery technology whilst creating as many as 4,000 jobs, and thousands more in the supply chain," he said. "We can be incredibly proud that Britain has been chosen as home to Tata Group's first gigafactory outside India, securing our place as one of the most attractive places to build electric vehicles," the British prime minister said. As one of the largest-ever investments in the UK auto industry, the new factory will create up to 4,000 highly skilled jobs as well as thousands of further jobs in the wider supply chain for battery materials and critical raw minerals. The gigafactory will secure UK-produced batteries for JLR as well as other manufacturers in the UK and Europe. The location of the new gigafactory is expected to be in Somerset, south west England. "Our multi-billion-pound investment will bring state-of-the-art technology to the country, helping to power the automotive sector's transition to electric mobility, anchored by our own business, JLR," said N Chandrasekaran, Chairman of parent company Tata Sons. "With this strategic investment, the Tata Group further strengthens its commitment to the UK, alongside our many companies operating here across technology, consumer, hospitality, steel, chemicals, and automotive," Chandrasekaran said. The Department for Business and Trade (DBT) said details of the government's incentives and support provided to the Tata Group as part of the agreement will be published in due course as part of regular transparency data. However, reports in the lead-up to the announcement had indicated subsidies in the form of grants, energy subsidies and other training and research funding would be part of the agreed package. "Today's multibillion-pound investment demonstrates that this government has got the right plan when it comes to the automotive sector," noted UK Business and Trade Secretary Kemi Badenoch. "We are backing the UK car industry to help grow our economy as we transition to electric vehicles, and this latest investment will secure thousands of highly-skilled jobs across the country," Badenoch said. The investment of over 4 billion pounds is seen as a historic moment for the UK's growing electric vehicles (EV) industry, with JLR's suite of <keyword id="91410" type="General" weightage="50" keywordseo="range-rover" source="Orion">Range Rover</keyword>, Defender, Discovery and Jaguar brands as the key customers. The Tata investment is described as crucial to boosting the UK's battery manufacturing capacity needed to support the electric vehicle industry in the long term and the new plant will cover almost half of the battery production that the Faraday Institution estimates the country will need by 2030. "This is a huge vote of confidence in the UK and one that will drive growth in our economy, creating thousands of jobs and powering our transition to electric cars," said UK Chancellor Jeremy Hunt. "Tata Group's gigafactory builds on the strength of our manufacturing industry and shows we're on the right track, backing the sectors that will underpin our future prosperity for decades to come," he said. DBT said the government is committed to making the UK one of the best places in the world for automotive investment, as evidenced by the Automotive Transformation Fund (ATF), the British Industry Supercharger supporting industry energy needs, and the strong programme of support for research and development. "This new gigafactory puts us firmly in the fast lane to becoming the capital of Europe's electric car market, and makes crystal clear how they see the UK as the place to be for their future growth," added UK Energy Security Secretary Grant Shapps. "With thousands of jobs on-site and in the supply chain, this new factory will be the cornerstone of our automotive industry, backing manufacturers to develop and expand, and customers to make the switch from petrol and diesel," he said.

Rishi Sunak hails Tata Group's multi-billion EV investment in UK

Tata Motors on Friday launched the CNG variant of its micro SUV <keyword id="5700" type="General" weightage="20" keywordseo="punch" source="Orion">Punch</keyword> priced between Rs 7.1 lakh and Rs 9.68 lakh (ex-showroom, Delhi). The <keyword id="16263040" type="General" weightage="20" keywordseo="punch-icng" source="Orion">Punch iCNG</keyword> is equipped with the company's proprietary twin-cylinder technology with enhanced safety features like a micro-switch to keep the car switched off at the time of refuelling and thermal incident protection that cuts off CNG supply to the engine and releases gas into the atmosphere, Tata Motors said in a statement. It is also equipped with other features such as voice assisted electric sunroof, automatic projector headlamps, LED DRLs, 16-inch diamond cut alloy wheels, 7-inch infotainment system by Harman that supports Android Auto and Apple Carplay connectivity, rain sensing wipers and height adjustable driver seat. The company also said it has also introduced the twin-cylinder technology on its Tiago and Tigor models. The Tiago iCNG is priced between Rs 6.55 lakh and Rs 8.1 lakh, while the Tigor iCNG comes at a price range of Rs 7.8 lakh to Rs 8.95 lakh. Tata Motors Passenger Vehicles Ltd Head-Marketing, Vinay Pant said these introductions put together will make the company's CNG line up "appealing, holistic, and stronger than ever". SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-market-sees-a-declines-in-q2-vivo-in-the-lead/articleshow/102417485.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-market-sees-a-declines-in-q2-vivo-in-the-lead/articleshow/102417485.cms" target="_blank">Indian smartphone market sees a declines in Q2; Vivo in the lead</a><a href="https://www.businessinsider.in/tech/news/samsung-introduces-costliest-tv-in-india-priced-over-rs-1-crore/slidelist/102351372.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/samsung-introduces-costliest-tv-in-india-priced-over-rs-1-crore/slidelist/102351372.cms" target="_blank">Samsung introduces India to a TV with over ₹1 crore price tag</a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-recover-in-july-2023/articleshow/102347978.cms">Electric two-wheeler sales recover after spending June in the pitlane</a>

You Searched For "tata electricity supply" and got 13 results

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April Auto Sales: Maruti Suzuki flags decline in bookings in April, electric two-wheelers lose momentum due to FAME-II irregularities

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