Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

New Delhi: India is set to enter a transformative "smartphone era" for cars in 2025, with the introduction of vehicles featuring 5G M2M connectivity and advanced AI technologies, according to the latest findings from Techarc's India Connected Consumer Report 2025. The report said the automotive sector will skip 4G and will enable connectivity using the latest 5G cellular technology. It observed that consumers are interested in spending money on improving the value proposition in terms of features, quality and experience rather than exploring too many smart devices. "22 per cent of the respondents shared about considering optimising their smart devices portfolio. Among the new set of categories, smart/connected cars is generating high interest among consumers. 55 per cent of the respondents said that they have come across news or information about smart/connected cars in recent times," it said. Starting in 2025, passenger cars in India will be equipped with 5G M2M connectivity, on-device GenAI, and cloud connectivity, making advanced technologies accessible across various price segments, it added. In-vehicle computing and artificial intelligence (GenAI), along with cloud applications, will become essential components of cars, enabling real-time data processing to support drivers effectively. Most cars priced at Rs 20 lakh and above will feature these technologies as standard. The cumulative revenues from automotive chipset companies have already surpassed USD 1.5 billion, with companies like Qualcomm and MediaTek leading the market. Some of the familiar applications that consumers will be able to use while driving include communication apps for audio/video conferencing, OTT entertainment apps, music streaming, podcasts, online shopping, vehicle maintenance, and servicing. "With connectivity and the technologies it brings to the cars, the future of the automobile sector will be fundamentally determined by the auto-technologies that will influence the overall experience, performance, comfort, safety and entertainment available to the drivers as well as the passengers. "So far, such features were seen as luxury or high-end experiences. But starting 2025, many of these will become mainstream for cars in India," Techarc AutoTech Analyst Sadat Ahanger said. With 22 automobile manufacturers producing nearly 5 million passenger vehicles annually in India, the country is poised to become a leader in the global 5G M2M market within the next few years, the report said. About 21 per cent of respondents said MG Motors is the leader in providing <keyword id="24016739" type="General" weightage="20" keywordseo="connected-cars-in-India" source="keywords">connected cars in India</keyword>, followed closely by Kia Motors at 18 per cent and Tata Motors at 15 per cent, it added. Hyundai and Maruti Suzuki also ranked among the top-five brands in this category. The report draws insights from a survey of 4,500 "connected consumers" across metro and non-metro cities. The report defined a connected consumer as one owning at least 3 smart devices in addition to a smartphone.

India to shift to 'smartphone era' for cars embracing 5G, advanced AI in 2025: Report

<keyword id="20448705" type="General" weightage="20" keywordseo="Waymo" source="keywords" meta.keywordsubtype="org" meta.entityname="Waymo" meta.hostid="261" meta.entityid="Waymo">Waymo</keyword>, the self-driving car whiz kid from Alphabet (aka Google’s big parent company), just made a splash by launching its robotaxis in Los Angeles! This means that anyone with the Waymo One app can now call up a driverless cab across a whopping 129-square-kilometre stretch of the city. It’s like having a robot chauffeur — without the awkward small talk! This isn’t Waymo’s first rodeo with robotaxis. They’ve been rolling around Phoenix since 2020 and then hit up San Francisco last year. In Los Angeles, after a short trial for some lucky early testers, Waymo opened up rides to the public. Now anyone can zip around L.A. traffic in style, with the car’s AI brain in control. Waymo’s journey started as a secret project back in 2009 and has come a long way since then. The company’s <keyword id="19967698" type="General" weightage="20" keywordseo="self-driving-cars" source="keywords">self-driving cars</keyword> have logged over 20 million miles without any major accidents — a record that certainly leaves human drivers in the dust. Meanwhile, Waymo’s competitor, Cruise (owned by General Motors), ran into some trouble when one of its <keyword id="21485769" type="General" weightage="20" keywordseo="driverless-cars" source="keywords">driverless cars</keyword> was involved in an accident with a pedestrian, resulting in a license suspension in California. <div type="Article" hostid="261" msid="107634470" title="A crowd set fire to a Waymo taxi in San Francisco, as tensions about driverless tech grow" mstype="2" mssubtype="0"></div>But Waymo’s big moves in the US raise an interesting question: what would happen if robotaxis rolled out in a place like India? The impact could be massive! India has millions of taxi drivers, and many rely on their daily fares to support their families. Not only is the work gruelling, such “gig workers” often earn shockingly less, and at increasingly shrinking profit margins. One source even noted earning only around Rs 30,000 a month while working as an Ola captain from Bengaluru. Thus, a widespread shift to driverless cars could be a serious blow to their livelihoods, especially in a country struggling with rampant levels of inflation. Therefore, there exists an issue of livelihoods on one hand and technological progress on the other, so if companies like Waymo ever bring robotaxis to India, it could shake things up in a big way. <div type="Article" hostid="261" msid="102751416" title="Sex in self-driving cars: Passengers are reportedly hooking up in San Francisco&amp;#39;s driverless taxis" mstype="2" mssubtype="0"></div>However, on the other side of the spectrum, there are undoubtedly some benefits to moving towards a fully-automated robotaxi fleet. For instance, road accidents cause over 1,50,000 deaths annually in India. Autonomous vehicles,which are designed to follow traffic rules strictly and reduce human error, could help lower these numbers. Additionally, driverless taxis could make transportation more accessible and affordable, especially in densely populated cities with high demand. Furthermore, such robotaxis would also provide a solution for passengers who experience language barriers or inconsistent service quality, as these vehicles are designed for efficient, standardised rides. There is also the hope that they could reduce traffic congestion and pollution with AI-driven routes that minimise idle time and fuel use. Waymo may be rejoicing in the spotlight at the moment, but there are several other companies in the robotaxi race, including Tesla, which has its “Cybercab” in the works, and Amazon’s Zoox, aiming to hit the streets of Las Vegas next year. Baidu’s Apollo is already making robotaxi runs in some Chinese cities, but each company faces its own unique set of challenges. In India, where roads are a blend of honking scooters, zig-zagging rickshaws, and plenty of cows on the streets, introducing robotaxis would require some serious tech tricks and regulatory green lights. Until then, L.A. can enjoy the driverless rides while the rest of us wait to see how this wild technology shapes the future.

No Driver? No Problem! Waymo’s driverless robotaxis make Los Angeles debut — but what could the tech mean for India?

<ul><li>The <keyword id="23541778" type="General" weightage="100" keywordseo="Raptee-hv-t30" source="Orion">Raptee.HV T30</keyword> high-voltage electric bike has been launched in India.</li><li>The <keyword id="23543915" type="General" weightage="20" keywordseo="T30-electric-bike" source="keywords">T30 electric bike</keyword> has been priced at ₹2.39 lakh, with deliveries scheduled to begin in January 2025.</li><li>Here’s everything you need to know about the latest electric bike in the country.</li></ul> <keyword id="23541777" type="General" weightage="20" keywordseo="Raptee-HV" source="Orion">Raptee.HV</keyword>, a Chennai-based electric two-wheeler maker has introduced the T30, the company’s first high-voltage electric bike in India, which is also the first such two-wheeler to launch in the country. The Raptee.HV T30 uses technology similar to electric cars, which the company claims allows it to offer performance similar to 250-300 cc ICE vehicles with significantly less heat. <h2>Raptee.HV T30 price and availability</h2>The Raptee.HV T30 is priced at ₹2.39 lakh (ex-showroom) and will be available in four colour options – Arctic White, Eclipse Black, Horizon Red and Mercury Grey. The bike will be available in Chennai and Bengaluru from January 2025, with debut in other key cities in the following months. The company’s factory-integrated experience centre will be opened in its home city Chennai. The company will also open an experience centre in Bengaluru. The bike can be booked from the company’s website for ₹1,000. <h2>Universal charging standard</h2>With the High-Voltage (HV) standard being used, Raptee.HV is the first two-wheeler company to adopt universal charging standards used by electric cars. This makes it compatible with CCS2 car charging stations across the country. <div type="image" title="India&amp;#39;s First High Voltage Electric Motorcycle-Black" msid="114218263" hostid="261" caption="&amp;lt;p&amp;gt;The T30 in Black colour option&amp;lt;/p&amp;gt;"></div> As per the company, there are over 13,500 such charging stations in India at present and this number is expected to double by 2025. “We have taken the core of advanced electric car tech and engineered it for motorcycles. Launching India’s first high-voltage electric motorcycle was a technical challenge from the very beginning,” said Dinesh Arjun, Co-founder &amp; CEO, Raptee.HV. “We believe our HV technology is the missing piece of the puzzle that will accelerate the electrification of motorcycles and revolutionize how motorcycles will be built in the future,” Arjun added. <h2>Raptee.HV T30 features</h2>The Raptee.HV T30 comes with a sporty and premium design. It comes with a minimalistic design, which the company says is inspired by luxury cars. The bike has been designed aerodynamically to enhance performance and range. The T30 is powered by a 240V 5.4kWh battery pack. The battery on the T30 comes with an eight-year warranty. It comes with an IDC-certified range of 200 km and a real-world range of 150 km on a single charge. <div type="Article" hostid="261" msid="114120828" title="The Ola Electric Saga: Are surge in complaints and declining market share a wake-up call for Bhavish Aggarwal?" mstype="2" mssubtype="0"></div> Using the portable charger, it can be charged from 20% to 80% in an hour. Using the CCS2 chargers, the bike can be charged from 20% to 80% in 40 minutes. It delivers 22kW of power, which is equivalent to 30BHP power and 70 Nm of torque. It can go from 0 to 60 kmph in just 3.5 seconds and comes with a top speed of 135 kmph. The T30 comes with three default ride modes – Comfort, Power and Sprint. It comes with a touch-screen display, with the company’s RapteeOS. It comes with navigation support with Raptee Maps, Bluetooth connectivity, charger locator and more. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/pixel-9-pro-to-go-on-sale-in-india-from-october-17-price-specs-and-everything-you-need-to-know/articleshow/114210864.cms">Pixel 9 Pro to go on sale in India from October 17 – price, specs and everything you need to know</a> <a href="https://www.businessinsider.in/business/auto/news/hyundai-ipo-review-everything-you-need-to-know-about-indias-biggest-ipo/articleshow/114203740.cms">Hyundai IPO review – Everything you need to know about India’s biggest IPO</a> <a href="https://www.businessinsider.in/business/auto/news/byd-emax-7-electric-mpv-launched-in-india-starting-at-26-9-lakh/slidelist/114046121.cms">BYD eMax 7 electric MPV launched in India starting at ₹26.9 lakh</a>

Raptee.HV launches T30, an electric bike that can be charged using car chargers

Electric vehicles (EVs) are all the rage these days. With their promise of lower emissions and smooth, quiet rides, it’s no wonder that the global demand for EVs has been soaring. However, if you live near the coast — or anywhere prone to flooding — there’s a less-talked-about risk that could make you rethink that shiny new electric car parked in your driveway: saltwater-induced fires from flooded EV batteries. <h2>Saltwater and EV batteries</h2>When it comes to EVs, the heart of the vehicle’s power lies in its battery, usually a lithium-ion (Li-ion) pack. These batteries are highly efficient, but they’re also sensitive to water, especially the salty kind. In September and October 2024, the Southeast U.S. was hit by hurricanes Helene and Milton, which caused catastrophic flooding. Thousands of homes were damaged, and in a particularly frightening twist, 11 electric cars and 48 lithium-ion batteries caught fire after being exposed to salty floodwaters. Saltwater is a conductor of electricity, which means it can get into the EV battery packs, triggering a dangerous reaction. When water seeps into the battery, it can cause a short-circuit between the battery's terminals, which may lead to overheating, violent fires, and even explosions. In many cases, the fire doesn’t start right away — it can take hours or even days after the exposure before a thermal runaway event occurs, causing a dangerous blaze. Once the fire starts, it’s nearly impossible to put out with regular fire-fighting methods. Firefighters often have no choice but to let the battery burn itself out. <div type="Article" hostid="261" msid="113906136" title="Planning to purchase an EV? Here&amp;#39;s how to ensure it never catches on fire" mstype="2" mssubtype="0"></div>In 2022, during Hurricane Ian in Florida, 36 EVs that had been flooded reportedly caught fire, even some that were being towed on flatbed trucks. The problem lies in how lithium-ion batteries react to saltwater. The metal terminals in these batteries, when exposed to salty water, can corrode and build short-circuiting paths that lead to fires days later. The fire hazard remains even in fully discharged batteries, meaning even seemingly "safe" vehicles after flooding could still pose a serious threat. <h2>The risk to coastal cities</h2>This issue is especially concerning for coastal cities where rising sea levels and hurricanes are becoming more frequent. According to a 2023 report by the International Energy Agency (IEA), <keyword id="381751" type="General" weightage="20" keywordseo="electric-vehicle" source="Orion">electric vehicle</keyword> adoption is growing rapidly in many parts of the world, including India, where EV sales increased by around 50% in the first quarter of 2024 alone. Cities like Mumbai, Chennai, and Kochi are embracing EVs due to their environmental benefits and growing infrastructure support. However, these coastal cities are also at higher risk for flooding, making the combination of increased EV adoption and rising sea levels a perfect storm for potential disaster. In fact, areas prone to heavy rains and floods, like India’s coastal cities, are facing unique challenges. The combination of frequent monsoon floods and rising sea levels presents a scenario where more and more EVs could end up submerged in salty floodwaters, increasing the risk of battery fires in the region. <h2>What does this mean for you?</h2>While electric cars are generally safe under normal conditions, the growing risk of battery fires due to flooding is an important factor to consider if you live in flood-prone areas, especially near the sea. The key takeaway here is that EV owners should take extra precautions when natural disasters loom, particularly hurricanes and floods. Here's what you can do to protect your EV: <ul><li>Move your EV to higher ground: If you're in a flood zone, take your EV to higher ground or evacuate it if possible. This will help prevent it from being submerged in salty water.</li><li>Evacuate early: Be proactive and evacuate before the floodwaters hit. Don't wait for the last minute to move your vehicle to safety.</li><li>After the flood, treat submerged EVs with caution: If your EV has been submerged in water, especially saltwater, it’s essential to avoid using it, charging it, or even moving it until it’s been inspected by professionals. Contact the manufacturer for a thorough inspection of the battery.</li><li>Do not attempt DIY fixes: If your vehicle has been exposed to saltwater, do not try to start it, charge it, or fix the battery yourself. The risks of fire are too high, and professionals are trained to handle such situations safely.</li></ul>

Buying an EV may be a somewhat dangerous move if you live near the sea

As the world celebrates World EV Day, <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>'s significant progress in adopting <keyword id="19895203" type="General" weightage="100" keywordseo="electric-vehicles" source="keywords">electric vehicles</keyword> (EVs) across various categories is commendable, however, there is still a long way to go. The government of India's <keyword id="23096041" type="General" weightage="20" keywordseo="Vaahan-Dashboard" source="keywords" meta.keywordsubtype="org" meta.entityname="Vaahan Dashboard" meta.hostid="153" meta.entityid="Vaahan Dashboard">Vaahan Dashboard</keyword> data shows an increasing trend to shift towards green mobility solutions. The most notable trend in EV penetration has been witnessed in the three-wheeler category, where EVs have surged ahead in overall sales. According to the data, 53.61% of all new three-wheeler vehicles purchased this year (2024) were electric, making this segment the leader in <keyword id="20421629" type="General" weightage="20" keywordseo="EV-adoption" source="keywords">EV adoption</keyword>. The two-wheeler segment has also shown encouraging signs of EV adoption, with electric vehicles accounting for 4.97% of all two-wheeler sales so far in 2024. While the percentage is lower compared to <keyword id="20412606" type="General" weightage="20" keywordseo="three-wheelers" source="keywords">three-wheelers</keyword>, the two-wheeler category holds significant potential for growth, given its dominance in India's overall vehicle sales market. As more consumers seek cost-effective and <keyword id="20991927" type="General" weightage="20" keywordseo="environmentally-friendly" source="keywords">environmentally friendly</keyword> alternatives, the penetration of EVs in this segment is expected to grow further in the coming years. However, in the four-wheeler segment, the adoption of EVs remains relatively low, with electric cars making up just 2.14% of total car sales this year. Despite this, the increasing availability of EV models and government incentives are expected to drive further growth in this segment. Interestingly, the penetration of electric buses is higher than that of electric cars, with 3.20% of all new buses sold in 2024 being electric. This trend highlights the growing importance of sustainable public transport solutions as cities aim to reduce emissions and promote cleaner alternatives in mass transit. "Electric vehicles offer a very compelling solutions because they do not emit any tailpipe emissions so that improves their air quality that reduces their air pollution. It also reduces the carbon emission so it helps India to meet with its climate goals and generally, electric vehicles have lower operating cost as compared to the IC engine vehicles," said Samhita Shiledar, Director RMI to ANI. On a state-wise level, the Vaahan dashboard data highlighted that Goa leads the country in EV penetration, with 14.20% of all new vehicles sold this year being electric. Tripura ranks second, followed by Chandigarh in third place. Delhi also stands out with a 10.72% penetration of EVs in total vehicle sales, showcasing the capital's push towards sustainable urban mobility. On the other hand, Himachal Pradesh reported the lowest EV penetration, with only 1.09% of new vehicles sold being electric. In terms of total number of EV sales across all segments in India, the two-wheeler category dominates the electric vehicle market in India, accounting for approximately 51% of total EV sales this year. As World EV Day highlights the global commitment to cleaner mobility solutions, India's data reflects a promising shift but a long way to go towards electrification across various vehicle segments.

World EV Day: 50%+ three-wheelers, 5% of 2-wheelers, and 2% of cars purchased in 2024 are EVs.

<ul><li>47% of all <keyword id="87582" type="General" weightage="20" keywordseo="stolen-cars" source="Orion">stolen cars</keyword> belong to the Maruti Suzuki brand </li><li>Even as cars have become technologically advanced and safer, thieves have evolved to find loopholes </li><li>In the event of a vehicle <keyword id="47717" type="General" weightage="20" keywordseo="theft" source="Orion">theft</keyword>, customers are advised to promptly inform both the police and the insurance company </li></ul>When it comes to <keyword id="6581207" type="General" weightage="20" keywordseo="vehicle-thefts" source="Orion">vehicle thefts</keyword> Delhi maintains its lead, according to the ‘Theft &amp; the City’ report by Acko General Insurance. As per the report, the country witnessed 2.5 times more vehicle thefts in 2023, compared to 2022. And a whopping 80% of car thefts in India happened in New Delhi! However, Delhi’s overall share in vehicle thefts came down from 56% in 2022 to 37% in 2023 compared to other cities in India. On the other hand, Chennai and Bengaluru experienced a significant surge, increasing from 5% in 2022 to 10.5% in 2023 and from 9% in 2022 to 10.2% in 2023, respectively. Meanwhile, Hyderabad, Mumbai, and Kolkata have emerged as cities with the lowest incidence of vehicle thefts in the nation. Lack of parking space to blame Several factors contribute to Delhi NCR being the vehicle theft capital of India, with a key issue being the scarcity of parking space in buildings and colonies, according to the report. In 2023, Delhi Police official data, as reported by The Hindu, revealed 7,328 calls reporting violent disputes over parking on neighbourhood roads, surpassing the numbers from 2022 and 2021. Maruti Suzuki leads the list Additionally, the report emphasizes that 47% of all stolen cars belong to the Maruti Suzuki brand. Cars in high demand, leading to longer delivery timelines, are more vulnerable to thefts. Consequently, the most frequently stolen cars in Delhi NCR are India's popular hatchbacks – the Maruti Wagon R and Maruti Swift, closely followed by the Hyundai Creta, Hyundai Grand i10, and Maruti Swift Dzire in third, fourth, and fifth place, respectively. Thieves exploit modern technology to steal cars Moreover, the evolving skills of these thieves coincide with the increasing technological sophistication of cars. Modern vehicles are equipped with advanced safety features, including keyless entry operating on barcodes embedded in windshields. Thieves exploit this technology by scanning the barcodes and sharing the codes offshore, enabling them to unlock cars and even gain remote access. Bike thefts witness a higher surge Curiously, 2023 witnessed a surge in bike thefts, with India experiencing a 9.25x increase compared to car thefts. The top-selling bike, Hero Splendor, secured the first spot among the most stolen bikes, followed by Honda Activa. The Royal Enfield Classic 350 reappeared in 2023 as a favoured choice among thieves, with Honda Dio and Hero Passion joining the list as new entrants. What to do if your vehicle is stolen? In the event of a vehicle theft, customers are advised to promptly inform both the police and the insurance company. They should submit essential documents, including the FIR copy, vehicle registration certification, driver’s license, etc., to the insurer. In some cases, customers may also need to provide the original car keys. If the police fail to locate the vehicle within the stipulated time frame, they will issue a non-traceable certificate. The insurer will then settle the claim based on the terms and conditions specified in the insurance policy.

Vehicle thefts in India double within a year; Delhi, Chennai and Bengaluru among the most theft-prone cities

<ul class="summary-list"><li>Traffic patterns have shifted since the pandemic.</li><li>US drivers are taking 23% more car trips in the middle of the day than they did in 2019.</li></ul>After roads went eerily quiet during the early months of the pandemic, traffic is back with a vengeance. Traffic congestion is as bad as it was pre-pandemic in about half of the world's top urban areas, but traffic patterns have shifted, according to <a target="_blank" class="" href="https://inrix.com/press-releases/2023-global-traffic-scorecard-us/">a new report by INRIX</a>, a transportation data and analytics company.Congestion no longer reflects the traditional nine-to-five work schedule. These days, as many Americans start a car trip at noon as do at five pm. Average hourly traffic during the middle of the day is up 23% since 2019, INRIX found.New remote and hybrid work schedules and a rise in car ownership in recent years have transformed traffic and congestion patterns.The INRIX report found that the traditional morning peak rush hour has given way to a steadier pace of trips starting later in the morning. The number of weekday car trips starting in the 6 AM hour fell from around 80 million a day in 2019 to about 50 million in 2023, while about 60 million trips began in the 9 AM hour in 2023, up from a little over 40 million in 2019. Over 75 million trips now start between noon and 1 PM.On the reverse side of the day, midafternoon trips are up and evening trips are down. Putting that all together, it looks like many Americans have shifted from a traditional 9-to-5 commute to a noon-to-4 or even more truncated workday.Bob Pishue, a transportation analyst at INRIX, said that midday travel started to rise when COVID hit, and that pattern hasn't dissipated. Despite many employers pressuring their employees to spend more time in the office, remote work has endured. With more flexible work schedules, people are making more midday trips to the grocery store and the gym, or getting to work late or leaving early."They're either going into work late so that they can continue to drop kids off at school," he said. And "people are still doing midday or two o'clock trips" or leaving early for vacation.Congestion in cities varies based on where jobs are located. "The importance of downtown as a destination for commuting is much different in Dallas than it is in New York," Pishue said, noting that downtown Manhattan is home to far more of its region's jobs than downtown Dallas.INRIX calculates congestion by gathering data from millions of anonymized sensors and vehicles and commercial vehicle data. The report calculated commute times using the time taken to drive "to and from major employment centers within an urban area from surrounding commuting neighborhoods."This travel shift has many implications for policymakers and transportation planners. Mass transit schedules, road tolls, and even traffic lights have long been designed around the 9-to-5 workday and the rush hours that it creates. But traffic data shows cities might need to adjust their schedules and redesign their physical infrastructure to fit the new post-pandemic, remote work paradigm."This is something that now needs attention," Pishue said.<div type="image" title="PJ Clarks in New York City" height="1333" width="2000" msid="112063713" hostid="261" sizebytes="293612"></div><h2 id="1c481284-b034-4152-810b-b67a65681ae4">Congestion is here to stay</h2>Since the pandemic hit, mass transit ridership has plummeted while driving has become more popular.New York City had the worst congestion of any city in the world in 2023, the INRIX report found. Last year, New Yorkers lost an average of 101 hours to congestion delays. The city saw a 13% year-over-year increase in vehicle trips into its downtown — the sharpest increase in the country.Car ownership has also <a target="_blank" class="" href="https://www.forbes.com/advisor/car-insurance/car-ownership-statistics/">risen in recent years</a>, including in New York.Car ownership in the five boroughs has soared over the last decade. While the population of New York City residents rose 1.4% between 2012 and 2021, the number of registered passenger vehicles <a target="_blank" href="https://nyc.streetsblog.org/2023/04/19/komanoff-dissects-new-york-citys-car-baby-boom">rose by 12%</a>. Still, about 54% of city households reported not owning a car in 2021.A year into the pandemic, Americans drove more despite many closed offices. People drove 2% more, measured by mileage, across US cities in March 2021 than in February 2020 and <a target="_blank" href="https://www.smartcitiesdive.com/news/the-pandemic-changed-car-ownership-how-can-cities-adapt/604497/">20% more than in March 2020</a>, when pandemic lockdowns first took effect.The shift from denser urban living to suburban and even rural living is part of this uptick in driving. Many city dwellers moved into far-flung, car-dependent exurbs and rural towns during the pandemic — and that trend <a target="_blank" href="https://www.businessinsider.com/millennials-young-kids-families-fleeing-big-cities-urban-doom-loop-2024-7">appears to be continuing</a>. For many, this means more time in their cars.Have you changed your commute in the last couple years? Tell your story to this reporter at <a target="_blank" class="" href="mailto:erelman@businessinsider.com">erelman@businessinsider.com</a>

The noon-to-4 is the new 9-to-5 for driving commuters, but it's not helping traffic congestion

Online used-car platform <keyword id="20259409" type="General" weightage="20" keywordseo="CARS24" source="keywords" meta.keywordsubtype="org" meta.entityname="CARS24" meta.hostid="261" meta.entityid="CARS24">CARS24</keyword> is gearing up for an <keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword> as it prepares to tap into the next level of growth opportunities in the domestic market, Co-Founder <keyword id="20485365" type="General" weightage="20" keywordseo="Gajendra-Jangid" source="keywords">Gajendra Jangid</keyword> said on Monday. The Gurugram-headquartered firm, which has already crossed USD 1 billion in turnover, expects the domestic <keyword id="22760787" type="General" weightage="20" keywordseo="used-car-market" source="keywords">used-car market</keyword> to cross USD 100 billion mark over the next ten years. "IPO is a milestone and a stepping stone in our journey. We are gearing up for it internally. I am not laying any roadmap for...by when we will go for the IPO. But the progress is being made in that direction," Jangid told reporters here. Elaborating on the growth potential of the Indian used-car market, he stated that <keyword id="22029663" type="General" weightage="20" keywordseo="car-ownership" source="keywords">car ownership</keyword> in the country remains low as compared to various developed geographies including China and the US. Jangid noted that the used-car segment was growing faster than the new car sales in the country with strong demand emanating from Tier II and III cities and towns. He noted that the company is yet to reach break-even level and the focus remains on introducing new products and technologies and scale new business verticals like car-servicing and sales of accessories and spare parts. CARS24 said it has upgraded its app to revolutionise car ownership, seamlessly integrating a wide range of services under one roof. The app, which now comes with a new feature Orbit, covers buying, selling, financing a car to on-demand driver services, insurance, repair and maintenance RTO assistance, FasTag, service history record, and even car-scrapping, it added. "We're not just transforming car transactions; we're elevating them into experiences," Jangid said. 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/auto/news/tata-curvv-ev-with-up-to-585-km-range-launched-starting-at-17-49-lakh/slidelist/112342769.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/tata-curvv-ev-with-up-to-585-km-range-launched-starting-at-17-49-lakh/slidelist/112342769.cms" target="_blank">Tata Curvv EV with up to 585 km range launched starting at ₹17.49 lakh</a>

Preparing to float IPO to tap growth opportunities: CARS24

<div type="image" title="Indians are getting fancy, and they don&amp;#39;t mind paying a little extra if it means quality and luxury. Most consumer brands are witnessing an uptick in their premium product segment" msid="115018213" hostid="261" caption="&amp;lt;p&amp;gt;Indians are getting fancy, and they don&amp;#39;t mind paying a little extra if it means quality and luxury. Most consumer brands are witnessing an uptick in their premium product segment&amp;lt;/p&amp;gt;"></div> It's time to move over from plain, vanilla budget basics! Indians are no longer looking for “best purchases and value buys under Rs 1,000”—at least not as much as before. <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s getting fancy, and how! From gold-flaked chocolates to swanky SUVs that look like they’re wheeled straight out of a Bollywood blockbuster, Indian companies are rapidly jazzing up their product lines, even faster than you can say the word "premiumization." But what does this mean for Indian companies and consumers? What is this jazz about premiumization all about? Is it just urban India that’s riding this wave, or has rural India also joined the bandwagon? We decode for you. <h2>What's premium, really?</h2>Imagine you’re eating Pav Bhaji at a roadside thela. Later during the day, you decide to dine out at a fancy, upmarket cafe, only to find Pav Bhaji Fondue on the menu. Same same, but much more expensive—often 5 to 10 times higher—for a little more hygiene and some better ambience! Think of premium products as this fondue. They are a notch up your regular, daily-use products soaps or shampoos, and even cars, all packaged luxuriously, offering just about the right touch of quality. The main differentiator, though, would be the price range. <h2>Driving home premium wellness</h2>A recent report by Nielsen suggests that over 70% of urban Indians are okay with paying a premium for their products. And companies are cashing in on this sentiment like never before. This explains why 58% of new products launched so far this year have been in the premium+ segment, as opposed to just 38% of new launches in regular, traditional trade. Take cars, for instance. Indians are no longer vying for a good old <keyword id="19950117" type="General" weightage="20" keywordseo="maruti" source="keywords">Maruti</keyword> 800 or <keyword id="20400567" type="General" weightage="20" keywordseo="alto" source="keywords">Alto</keyword>, traditionally known for their healthy mileage, but are rather happy investing in more swanky features that come along with high-end cars. In October 2024, India’s largest car manufacturer, <keyword id="19909974" type="General" weightage="20" keywordseo="maruti-suzuki" source="keywords">Maruti Suzuki</keyword>, sold 65,948 units of its compact cars like Swift, WagonR, Dzire, and more. Compared to the year-ago period, which saw sales of 80,662 units, this was an 18% dip. But take a look at their SUV (sport utility vehicle) sales for the same period. Cars like Brezza, Ertiga, and Grand Vitara sold about 70,644 units, a 19% uptick from the sales made in October 2023, i.e. 59,147 units. Simply put, when it comes to cars, Indians are saying the bigger, the better! The same is true for India's second biggest automobile manufacturer, Hyundai. Its SUV lineup made up a staggering 68.2% of the firm's total sales made for October 2024. What's more, SUV demand remained largely consistent across urban and rural markets. <h2>Consumers are inching up</h2>FMCG (fast-moving consumer goods) are also riding the premiumization wave, with Indians prioritizing their health and wellness and not bothered about dishing out a few extra bucks for the same! You’ll find no dearth of words like organic, vegan, gluten-free, and sugar-free, peppered generously over every product you’ll see today, be it soaps, juices, or more. No wonder then, sales from premium segments in 2024 make up around 27% of all FMCG sales and even contribute a massive 42% to the sector’s value growth in India. Nielsen report further adds that luxury brands that position themselves at twice the price of their category’s average are even witnessing stellar growth. In fact, for most FMCG brands like Tata Consumer Products, <keyword id="20002610" type="General" weightage="20" keywordseo="hindustan-unilever" source="keywords">Hindustan Unilever</keyword> (HUL), Dabur, and Nestle, it is this premium segment that is growing much faster than their regular ones. And it's not just about daily-use products; Indians are also taking their celebrations a step over. Spirits manufacturer <keyword id="20125704" type="General" weightage="20" keywordseo="radico-khaitan" source="keywords">Radico Khaitan</keyword> highlighted that for the first half of 2024, their prestige &amp; above segment made for 88.4% of its net sales value. In the same period, the regular popular segment accounted for just 9.1% of their net sales. From Hindustan Unilever, which saw its premium products grow 30% over the last quarter, to <keyword id="20521971" type="General" weightage="20" keywordseo="kingfisher" source="keywords">Kingfisher</keyword> beer's parent company, <keyword id="20124009" type="General" weightage="20" keywordseo="united-breweries" source="keywords">United Breweries</keyword>, whose premium product sales volume jumped by 27% during the quarter as opposed to just a 5% rise in overall volumes, everyone is seemingly taking their lifestyle a notch above. Per the Nielsen report, in 2024, a typical global consumer spends about $13.7k per year. This is set to grow by around 2.4% to $14k as early as next year. Even a report by Goldman Sachs also highlighted a similar trend, noting that India’s affluent class, or those earning over $10,000 (Rs 8,42,694.97), is set to reach 100 million in the next 3 years. And where will this consumer spend? On premium products! <h2>Online shopping shifts from mass to class</h2>Amazon’s Great Indian Shopping Festival, which was live between September 27 and October 29 this year, saw 140 crore customers, more than 85% of whom came from non-metro Indian cities. On the site, there was a 400% spike in sales in premium sales across categories like watches, fragrances, handbags, jewelry, and more. Rival <keyword id="19896939" type="General" weightage="20" keywordseo="flipkart" source="keywords">Flipkart</keyword> noted a similar trend, recording 1.8x growth in premium beauty and personal care products during the first half of this year. <h2>Dialing in premiumness</h2>The Indian smartphone ecosystem has always been dominated by basic phones, or those entry- and mid-range phones that are priced between Rs 10,000 and Rs 6,000. But that has changed in recent times, with premium smartphones (i.e., those priced over Rs 60,000) registering 20%+ growth in 2024. During the first quarter of this year, sales of mass phones (priced between Rs 10,000 and 20,000) reached 44%, compared to 51% in the year-ago period. But it's all sunny and shiny in the mid-premium (priced between Rs 40,000 and Rs 60,000) and super-premium segments (priced above Rs 60,000). Sales growth has burgeoned by as much as 27% and 86% in these categories, respectively. As India continues its march toward becoming the world's third-largest economy by 2027, the premium party is just getting started. Industry experts predict that premium segments will grow faster than you can say "sustainable organic handcrafted artisanal batch of coffee." So the next time you see someone dropping serious rupees on a fancy bottle of black water that also somehow plays music and tracks their hydration (yes, that's a thing), remember: This is just the trailer. Picture abhi baaki hai, mere dost! Do you have a topic in mind you'd want a simpler explanation for, or insights or experiences to share on personal finance and more? Contact us at businessinsider@timesinternet.in.

Simply Put: From Dal to Dolce—India is loving its luxury life

<ul class="summary-list"><li>NYC is far behind on requirements to build bike and bus lanes, among other non-car infrastructure.</li><li>This comes after Gov. Kathy Hochul suspended a new toll on vehicles in Manhattan below 60th Street.</li></ul>As urban dwellers around the world turn to two wheels to get around their cities, some governments are handling the shift better than others. The number of <keyword id="22853778" type="General" weightage="20" keywordseo="bicycle-trips" source="keywords">bicycle trips</keyword> in Paris <a target="_blank" class="" href="https://www.lemonde.fr/les-decodeurs/article/2023/11/11/a-paris-la-frequentation-des-pistes-cyclables-a-double-en-un-an_6199510_4355770.html">doubled</a> between 2022 and 2023, thanks to a <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2021-10-22/how-paris-will-become-100-cyclable">massive expansion</a> of the French capital's bike lane network. Tourists in town for the Olympics <a target="_blank" class="" href="https://slate.com/culture/2024/08/olympics-paris-games-bike-infrastructure-cycling-streets-safety-transportation.html?via=rss">are encouraged to cycle</a> to the Games. <keyword id="19901403" type="General" weightage="20" keywordseo="New-York-City" source="keywords">New York City</keyword> has also seen <a target="_blank" class="" href="https://momentummag.com/new-york-city-leads-the-way-as-new-report-shows-surge-in-cycling-across-the-u-s/">a surge in bicycling</a> since the pandemic caused many to avoid mass transit and ride shares. The success of the Citibike bike share program is <a target="_blank" class="" href="https://www.curbed.com/2023/05/citi-bike-nyc-ridership-10-years.html">a huge part of that change</a>. But anyone who hops on two wheels in New York is facing more dangerous and congested roads than in other leading global cities. The city Department of Transportation — which controls the streets, but not trains and buses — is behind on its longer-term plan to boost pedestrian and bike infrastructure. The city's five-year NYC Streets Plan, which became law in 2019, requires the city to build 250 miles of <keyword id="22853779" type="General" weightage="20" keywordseo="protected-bike-lanes" source="keywords">protected bike lanes</keyword> by 2026, among other safe streets priorities. So far this year, the city has completed just 2.3 miles of protected lanes, <a target="_blank" class="" href="https://projects.transalt.org/bikelanes">according to the advocacy group Transportation Alternatives</a>. Last year, it built 38.6 miles of 50 required miles of protected <keyword id="22853777" type="General" weightage="20" keywordseo="bike-lanes" source="keywords">bike lanes</keyword> and in 2022 it built 19.9 miles of the 30 miles it was required to build. At this time last year, it had built <a target="_blank" class="" href="https://www.instagram.com/p/CvH-_LFOkMP/?igsh=MWc3b244NDJxejk5MA%3D%3D">9.7 miles of lanes</a>. The city DOT told Business Insider that most bike lane construction happens in the second half of the year because of weather issues, and it disputed the 2.3-mile figure. But the department didn't provide an estimated number of bike lane miles it expects to complete this year. DOT noted that it built more protected lanes last year "than every major American city combined." Adams isn't just required by law to build bike lanes. He <a target="_blank" class="" href="https://www.amny.com/news/eric-adams-seeks-the-cycling-vote-with-a-promise-for-300-miles-of-bike-lanes/">campaigned for mayor on a promise</a> to build 300 miles of protected lanes in his first four-year term. And the funding for the Streets Plan — more than $900 million — has already been allocated to DOT. The Adams administration has also <a target="_blank" class="" href="https://www.nyc.gov/html/dot/downloads/pdf/nyc-streets-plan-update-2024.pdf">fallen behind</a> on other priorities in the Streets Plan, including building dedicated bus lanes and upgrading bus stops. Advocates say the slow pace of progress comes down to politics. "The money is there, the law is there, but the mayor doesn't seem to be there," said Elizabeth Adams, interim director of Transportation Alternatives. "And that's really what's holding this up." The city has made progress in some areas. A DOT spokesperson noted to Business Insider that the city has built "over a million square feet of pedestrian space over two years, exceeding the target in the Streets Plan." New York's plan to impose a new toll — known as congestion pricing — on vehicles that drive in Manhattan's central business district would have been a boon for more sustainable modes of transport. Fewer cars and trucks on the street means more space for bikers and pedestrians. Since London implemented congestion pricing 20 years ago, daily car trips have fallen while <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-02-23/london-bike-boom-risks-becoming-a-victim-of-its-own-success">bicycling trips have quadrupled</a>. But since New York Gov. Kathy Hochul abruptly <a target="_blank" class="" href="https://www.nytimes.com/2024/06/05/nyregion/congestion-pricing-pause-hochul.html">suspended</a> the congestion pricing plan she had <a target="_blank" class="" href="https://www.youtube.com/watch?v=sYQSH5E5p5Y">long celebrated</a>, a less congested future — not to mention at least <a target="_blank" class="" href="https://www.nytimes.com/2024/08/08/nyregion/subway-mta-finances-congestion-pricing.html">$15 billion</a> for the city's subways and buses — is on hold. In May, weeks before the city was set to implement congestion pricing, the DOT unveiled <a target="_blank" class="" href="https://www.nyc.gov/html/dot/html/pr2024/connect-core-access-business-district.shtml#:~:text=A%20report%20detailing%20this%20work,%2C%20safer%2C%20and%20more%20convenient.">a plan</a> to improve pedestrian and bike infrastructure to give New Yorkers better access to Manhattan below 60th street. The city insists it's moving forward with its plans despite the governor's about-face, and Adams said <a target="_blank" class="" href="https://ny1.com/nyc/all-boroughs/politics/2024/06/11/mayor-adams-congestion-pricing-hochul">he supported</a> Hochul's reversal on congestion pricing. "We are continuing to develop these projects regardless of the pause. Many are either in construction, or will start construction soon," a spokesperson for DOT told Business Insider in a statement. Advocates for mass transit and pedestrian and bicycle infrastructure say the safety and environmental impact of traffic is a crisis. New York was the most congested city in the world for the second year in a row, according to <a target="_blank" class="" href="https://inrix.com/scorecard/">one major study</a>. Congestion and crowding in the city "is very much at a breaking point," said Adams, of Transportation Alternatives. "We should be doing everything we can to make it easier to get around outside of a car," she added. <h2>Traffic deaths overtake gun deaths in NYC</h2>These days, biking doesn't feel like a viable option for many New Yorkers worried about safety. The city streets were <a target="_blank" class="" href="https://ny.pbslearningmedia.org/resource/cars-and-robert-moses-transform-nyc-video/new-york-documentary-film/">designed to maximize vehicle speed</a> rather than to get as many New Yorkers around as efficiently and safely as possible. Bikers have to contend with <a target="_blank" class="" href="https://transalt.org/press-releases/new-data-shines-light-on-the-growing-dangers-and-growing-ownership-of-suvs-in-new-york-city#:~:text=In%202016%2C%20SUVs%20were%20slightly,consequences%20for%20vulnerable%20road%20users.">larger cars</a>, <a target="_blank" class="" href="https://www.bloomberg.com/news/features/2023-01-06/welcome-to-the-age-of-extreme-acceleration?srnd=citylab">more speeding</a>, a surge in <a target="_blank" class="" href="https://nyc.streetsblog.org/2024/04/25/dot-will-spend-11m-to-boost-off-hour-deliveries">delivery trucks</a>, and a rash of speeding <a target="_blank" class="" href="https://www.nytimes.com/2024/05/27/nyregion/street-wars-e-bikes.html">mopeds and e-bikes</a>. While New York City streets have generally gotten safer since the city adopted its 'Vision Zero' plan in 2014 to eliminate traffic deaths and serious injuries in 2014, progress hasn't been consistent. Pedestrian deaths are <a href="https://www.nytimes.com/2024/07/30/nyregion/traffic-deaths-vision-zero.html" target="_blank">way up so far in 2024</a>. This year, New Yorkers were <a target="_blank" class="" href="https://gothamist.com/news/cars-prove-far-deadlier-than-guns-in-nyc-so-far-this-year">more likely to be killed in a traffic crash</a> than by gun violence. While pedestrian deaths fell <a target="_blank" class="" href="https://www.bloomberg.com/news/features/2024-03-11/new-york-city-s-decade-long-battle-for-pedestrian-safety">last year</a>, <a target="_blank" class="" href="https://www.nytimes.com/2024/03/05/nyregion/nyc-cyclist-deaths-ebike.html">more bicyclists died</a> on New York City's streets in 2023 than in any year since 1999, although a DOT spokesperson noted that cyclist deaths are "down nearly 37% so far this year." Cities like Paris, London, Tokyo, and Bogotá have proven how essential — and beneficial — pedestrian and <a target="_blank" class="" href="https://www.wired.com/story/most-bike-friendly-cities-2019-copenhagenize-design-index/">multi-modal infrastructure</a> is to a healthy city. Better bike and pedestrian infrastructure doesn't just mean safer streets and cleaner air — they're also <a target="_blank" class="" href="https://www.businessinsider.com/bike-lanes-good-for-business-studies-better-streets-2024-3">good for business</a>. Advocates say New Yorkers should follow their lead. "What New York City can learn is that when you commit to comprehensive bike infrastructure, it works," Elizabeth Adams said. "People are happier and it boosts the economy, and the streets are safer, and the air is cleaner, and people shift modes very quickly." Note: Correction: August 14, 2024 — This article has been updated to clarify that pedestrian deaths are higher this year, rather than traffic deaths, and added additional context around the city's building of pedestrian infrastructure and recent cyclist death counts.

Urban biking is booming around the world, but New York City is falling behind

The electric vehicle (EV) market in India is evolving rapidly, and with the festive season approaching, many consumers are contemplating whether to wait for the usual <keyword id="23152657" type="General" weightage="20" keywordseo="festive-discounts" source="keywords">festive discounts</keyword> or take advantage of government incentives. One of the key schemes driving <keyword id="20421629" type="General" weightage="20" keywordseo="EV-adoption" source="keywords">EV adoption</keyword> has been the Faster Adoption and Manufacturing of Hybrid and <keyword id="19895203" type="General" weightage="20" keywordseo="electric-vehicles" source="keywords">Electric Vehicles</keyword> (FAME) initiative in 2015, which is transitioning to phase 2 in 2019. As per the recent announcement from the government, the government is replacing FAME II with a new scheme for the next two years. And no, it’s not FAME III! <h2><keyword id="23136597" type="General" weightage="100" keywordseo="PM-E-Drive" source="keywords">PM E-Drive</keyword> subsidy comes into effect</h2>The PM E-Drive subsidy aims to build on the success of previous versions, where over 16 lakh vehicles benefited from FAME 2. However, unlike its predecessor which included subsidies for passenger EVs, PM E-Drive has reportedly limited subsidies to only two-wheelers, three-wheelers, buses, hybrid ambulances and electric trucks. All in all, the scheme, with an outlay of Rs 10,900 crores, is expected to support 24.79 lakh electric two-wheelers, 3.16 lakh e-three wheelers, and 14,028 e-buses, along with a plethora of other features to improve the national e-mobility ecosystem. This also includes 22,100 fast chargers for e-4 Ws, 1800 fast chargers for e-buses and 48,400 fast chargers for e-2W/3Ws that will be set up in selected cities with high EV penetration and highways to allay the “range anxiety” of EV buyers. More specifically, Rs 3,679 crores have been provided to incentivise e-2Ws, e-3Ws, e-ambulances, e-trucks and other emerging EVs. These incentives are expected to help reduce the upfront cost of electric vehicles, making them accessible to a larger segment of the population. Additionally, state-run bus companies will likely see increased support, further boosting the public transport EV ecosystem.<div type="Article" hostid="261" msid="113282182" title="Automobile industry hails PM e-DRIVE scheme to promote EVs" mstype="2" mssubtype="0"></div>As a result, PM E-Drive will particularly benefit individuals and businesses looking for two- and three-wheelers, as well as state transportation corporations. Small businesses that rely on electric three-wheelers for deliveries or passenger services could also see significant savings, which can be reinvested into their operations. <h2>How does it compare to festival deals?</h2>While the <keyword id="20022183" type="General" weightage="20" keywordseo="government-subsidies" source="keywords">government subsidies</keyword> under PM E-Drive offer substantial savings, festival season sales from EV manufacturers can provide additional discounts and promotions, such as reduced down payments, lower interest rates, and free charging infrastructure. However, these discounts are often limited-time offers and might not match the long-term financial benefits provided by government subsidies. For example, if you’re in the market for a <keyword id="23152655" type="General" weightage="20" keywordseo="two-wheeler-EV" source="keywords">two-wheeler EV</keyword>, PM E-Drive incentives might be more valuable than a one-time festive discount of Rs 5,000 to Rs 10,000, based on the final discounts that automakers provide. Additionally, manufacturers sometimes adjust their prices before offering festival deals, potentially reducing the actual discount. On the other hand, FAME subsidies are fixed and directly reduce the vehicle's purchase cost. Therefore, if you're primarily looking at entry-level electric vehicles like scooters or bikes, PM E-Drive might offer a more substantial and stable financial benefit than waiting for festive discounts. <div type="Article" hostid="261" msid="113239075" title="Drivers are feeling better about EV range and charging infrastructure, but still aren&amp;#39;t ready to go electric" mstype="2" mssubtype="0"></div><h2>Should you buy now or wait?</h2>The decision to wait for the festival season or go ahead with the purchase largely depends on what you're looking for. If you're in the market for an electric two-wheeler or three-wheeler, the government subsidies under PM E-Drive — when they finally arrive — could be more beneficial than the temporary discounts during the festival season. However, if you're eyeing an electric car, especially a high-end one, the limited scope of PM E-Drive for passenger EVs might mean that festival offers provide better value. If you’re contemplating waiting for the festival season to purchase an electric two-wheeler, these festive offers could stack up alongside the PM E-Drive subsidies, if automakers integrate the scheme into their pricing by then. Festival deals may even provide additional perks such as easy EMI options and free service packages, which aren't typically covered under government schemes. Therefore, it's worth evaluating both festive deals and FAME subsidies to maximise savings. In conclusion, the launch of PM E-Drive brings a solid financial incentive to accelerate India's transition to <keyword id="20138204" type="General" weightage="20" keywordseo="electric-mobility" source="keywords">electric mobility</keyword>. Those considering two- or three-wheelers may want to act quickly as these subsidies roll out, while car buyers might want to weigh their options as the festive season approaches.

Waiting for the festive season to buy an EV? Cabinet approves PM E-Drive subsidising most EVs, sans electric cars

<ul><li><keyword id="19906087" type="General" weightage="20" keywordseo="hyundai" source="keywords">Hyundai</keyword> Motor India Limited is set to debut in India's stock market.</li><li>The IPO will open on October 15, making it the first car company in over two decades to go public in India.</li><li>Here’s everything you need to know about the South Korean automaker ahead of its IPO.</li></ul> Hyundai Motor India Limited, the Indian arm of South Korean automaker Hyundai Motor Company is all set to make its stock market debut in India as its initial public offering (IPO) opens on October 15. This will be the first market outside South Kores where the country is listed. Hyundai, which entered the Indian market in 1996 is one of the top automakers in India, moving between the second and third spots. The company emerged as the second biggest automaker in Hyundai. Since it entered the Indian market, the company has sold over 80 lakh cars in the country. Hyundai intends to establish India as a global manufacturing and export hub for the company and this might be an initial step in this direction. KFin Technologies is the registrar for the public issue and advisors for the issue include Kotak Investment Banking, Citi, HSBC, JP Morgan and Morgan Stanley. <h2>India’s biggest IPO</h2>Hyundai India is looking to raise ₹27,870 crore from the IPO, significantly higher than the ₹21,008 crore raised by the state-owned Life Insurance Corporation of India (LIC) in 2022, making it the biggest IPO in India’s history. <div type="Article" hostid="261" msid="111690863" title="The biggest IPOs in India’s history – LIC to Paytm, companies that have raised the most funds" mstype="2" mssubtype="0"></div> <h2>About the IPO</h2>The upcoming IPO from Hyundai is entirely an offer for sale (OFS), with the company looking to offload up to 17.5% of shares, which is 14.22 crore shares with a price band of ₹1865 to ₹1,960 per share. Bids can be made in a lot size of 7 shares or multiples of 7 shares. The IPO opens on October 15 and will close on October 18. While the allotment will be finalised on October 18, the shares will be listed on the stock exchange on October 22. At the upper end of the price band, Hyundai Motor India will be valued at $18 billion (approx. ₹1.6 lakh crore), which is around 40% of its parent company, Hyundai Global’s $45 billion valuation. As it is entirely an OFS, the company won’t receive any funds and all the funds raised will go to Hyundai Global. However, the company has said that part of the funds will be allocated towards research and development, especially in electric vehicles (EVs) and hybrid technologies. The company has reserved 7.78 lakh shares with a value of ₹131 to ₹138 crore for employees. Employees will get these shares at a discount of ₹186 per share. <h2>First carmaker in over two decades to go public</h2>In addition to being the biggest IPO in the country’s history, this will also make the company the first car maker to go public in India in over two decades. The last car maker to go public was Maruti Suzuki, which held its IPO in 2003. <div type="Article" hostid="261" msid="114120828" title="The Ola Electric Saga: Are surge in complaints and declining market share a wake-up call for Bhavish Aggarwal?" mstype="2" mssubtype="0"></div> With the IPO, the company will join other car makers such as Maruti Suzuki, Tata Motors and Mahindra &amp; Mahindra to be listed in the Indian stock market. <h2>Hyundai in India</h2>The Indian market contributes to around 15% of the company’s global sales and is the third biggest market for the company after the United States and South Korea. The company has already invested around $5 billion in the country and plans to invest an additional $4 billion over the next few years. Company’s financials <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Period ended </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">PAT </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mar-22 </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹47,966.05 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,901.59 </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mar-23 </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹61,436.64 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,709.25 </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mar-24 </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹71,302.33 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹6,060.04 </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">June-24 </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹17,567.98 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,489.65 </td></tr></tbody></table> Amount in ₹ crore Hyundai recorded a revenue of ₹71,302.33 crore in FY24, up from ₹61,436.64 crore in FY23 and ₹47,966.05 crore in FY22. During the 3-month period from April to June 2024, the company earned a revenue of ₹17,567.98 crore. The company recorded a profit after tax (PAT) of ₹6,060.04 crore in FY24, up from ₹4,709.25 crore in FY23 and ₹2,901.59 crore in FY22. The company recorded a PAT of ₹1,489.65 crore from April to June 2024. “Hyundai Motor India is seeking a slightly higher premium to Maruti and lower to M&amp;M based on price earnings ratio while Hyundai stands to be expensive in terms of price to book value. Hyundai India justifies its premium ask considering its leadership in SUV sales, world-class brand image followed by better safety ratings, Multi-segment growth visibility largely been driven by its popular SUVs, particularly the Creta, Exter, and Venue models in the Indian market,” said Prashanth Tapse, Senior VP (Research), Mehta Equities. <h2>Hyundai paid ₹10,780 crore dividend in FY24</h2>Ahead of the IPO, Hyundai paid a ₹10,780 crore dividend in FY24, up from ₹4,653.42 crore dividend in FY23 and ₹1,493.45 crore dividend in FY22. With this, the company’s cash and bank balance has declined from ₹17,741.15 crore a year ago to ₹9,017.35 crore. <div type="Article" hostid="261" msid="113925972" title="September Auto sales – Automakers report a decline, Mahindra and Mahindra overtakes Tata Motors" mstype="2" mssubtype="0"></div> “As a result, our ability to utilise our internal accruals and cash and bank balances has been reduced. Any resultant insufficiency in our internal accruals and cash and bank balance may require us to borrow money to meet our growth requirements and incur borrowing costs, which may adversely impact our profitability, financial ratios and results of operations,” the company said in its Red Herring Prospectus (RHP). <h2>Declining grey market premium</h2>Grey market premium (GMP) is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. In essence, it is the premium above the issue price of a share. The GMP of Hyundai has been on a decline, from ₹570 around two weeks ago to ₹130. <h2>Key risks to remember</h2>Here are some of the key risks that the business faces: <h3>Rising part prices</h3>There has been an increase in prices of key vehicle parts over the years, especially chipsets. A further rise in price may impact the company’s profitability in the coming years. <h3>Production disruptions</h3>The company has said that any disruption to its Chennai plant will adversely impact the production and the company’s finances. <h3>Supplier dependency</h3>Another risk to keep in mind is the company’s dependency on its suppliers. Any disruption in its supply chain will adversely impact its production and profitability. <h3>Competition</h3>Hyundai alternates between the second and third position in the Indian car market. An increase in competition, with the increased sales of Mahindra and Mahindra, the company faces a new competitor. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/the-ola-electric-saga-are-surge-in-complaints-and-declining-market-share-a-wake-up-call-for-bhavish-aggarwal/articleshow/114120828.cms">The Ola Electric Saga: Are surge in complaints and declining market share a wake-up call for Bhavish Aggarwal?</a> <a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-september-2024-maruti-suzuki-dominates-with-seven-cars/slidelist/114112295.cms">Top selling cars in India in September 2024 – Maruti Suzuki dominates with seven cars</a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-leads-the-first-phase-of-festive-sales-with-a-20-market-share/articleshow/114070723.cms">Samsung leads the first phase of festive sales with a 20% market share</a>

You Searched For "Car congested cities in India" and got 12 results

India to shift to 'smartphone era' for cars embracing 5G, advanced AI in 2025: Report

PTI

No Driver? No Problem! Waymo’s driverless robotaxis make Los Angeles debut — but what could the tech mean for India?

Ankush Banerjee

Raptee.HV launches T30, an electric bike that can be charged using car chargers

Sourabh Jain

Buying an EV may be a somewhat dangerous move if you live near the sea

BI India Bureau

World EV Day: 50%+ three-wheelers, 5% of 2-wheelers, and 2% of cars purchased in 2024 are EVs.

ANI

Vehicle thefts in India double within a year; Delhi, Chennai and Bengaluru among the most theft-prone cities

Anagh Pal

The noon-to-4 is the new 9-to-5 for driving commuters, but it's not helping traffic congestion

Eliza Relman

Preparing to float IPO to tap growth opportunities: CARS24

PTI

Simply Put: From Dal to Dolce—India is loving its luxury life

Ira Alok Puranik

Urban biking is booming around the world, but New York City is falling behind

Eliza Relman

Waiting for the festive season to buy an EV? Cabinet approves PM E-Drive subsidising most EVs, sans electric cars

Ankush Banerjee

Hyundai IPO review – Everything you need to know about India’s biggest IPO

Sourabh Jain

Popular Keywords

Buying Guides