<keyword id="19897354" type="General" weightage="100" keywordseo="Bajaj-Auto" source="keywords" meta.keywordsubtype="org" meta.entityname="Bajaj Auto" meta.hostid="261" meta.entityid="Bajaj Auto">Bajaj Auto</keyword>, the world's third-largest manufacturer of <keyword id="20067449" type="General" weightage="20" keywordseo="motorcycles" source="keywords">motorcycles</keyword> and the second-largest <keyword id="22023862" type="General" weightage="20" keywordseo="two-wheeler-maker" source="keywords">two-wheeler maker</keyword> in India announced its <keyword id="22373996" type="General" weightage="20" keywordseo="Q1FY25" source="keywords">Q1FY25</keyword> results today. The company's net profits surged 19.5% on a year-on-year (YoY) basis to touch Rs 1,988 crore, while its earnings before interest, taxes, depreciation and amortization (<keyword id="19957744" type="General" weightage="20" keywordseo="EBITDA" source="keywords">EBITDA</keyword>) inched up by 24% YoY to reach Rs 2,415 crore. The company also reported healthy sales and export figures for the quarter ended June 30, 2024. The automaker's exports jumped 7% YoY to 4,11,435 units in the previous quarter, as opposed to 3,85,851 units in the same quarter last year. The company's sales also saw a 7% YoY jump from 11,02,056 units in the June quarter, compared to 10,27,407 units in the same quarter last year. The company's most popular motorcycle, <keyword id="20050188" type="General" weightage="20" keywordseo="Pulsar" source="keywords">Pulsar</keyword>, saw 3x growth over its other industry peers among all sports motorcycles. The company expects the sales of two-wheelers in India to grow and peak around 6-8% either in Q4 FY25 or Q1 FY26. <h2>Leadership revamp on cards </h2>The company's current MD, <keyword id="21050430" type="General" weightage="20" keywordseo="rajiv-bajaj" source="keywords">Rajiv Bajaj</keyword>, also hinted that it is time for Bajaj Auto to consider a new MD, although he reassured stakeholders that he is not going anywhere, anytime soon. "Every time I say something to you (shareholders), I start by saying, ‘My mind goes back 30 years’. So, it tells me that perhaps I have been here long enough. So, just as these two companies (<keyword id="22441189" type="General" weightage="20" keywordseo="Chetak-Technologies" source="keywords" meta.keywordsubtype="org" meta.entityname="Chetak Technologies" meta.hostid="261" meta.entityid="Chetak Technologies">Chetak Technologies</keyword> and <keyword id="22441190" type="General" weightage="20" keywordseo="Bajaj-Auto-Credit" source="keywords" meta.keywordsubtype="org" meta.entityname="Bajaj Auto Credit" meta.hostid="261" meta.entityid="Bajaj Auto Credit">Bajaj Auto Credit</keyword>) have new MDs, Bajaj Auto also needs a new MD—a younger MD because I have been here for 34 years. I am 58 and not so young anymore,” he said while addressing shareholders during the company's 17th annual general meeting on Tuesday. The company's share closed at Rs 9,693 on NSE yesterday, up by 0.20%.

Bajaj Auto Q1FY25 results: Net profit, EBITDA, exports see a major jump, leadership change imminent

Hindustan Aeronautics Limited (<keyword id="19997265" type="General" weightage="20" keywordseo="HAL" source="keywords" meta.keywordsubtype="org" meta.entityname="HAL" meta.hostid="83" meta.entityid="HAL">HAL</keyword>) and <keyword id="22976652" type="General" weightage="20" keywordseo="Safhal" source="keywords">SAFHAL</keyword> <keyword id="22976651" type="General" weightage="20" keywordseo="helicopter-engines" source="keywords">Helicopter Engines</keyword> Pvt. Ltd. (SAFHAL) have signed an airframer contract, to commence joint design, development, manufacture, and supply and support of a new generation high-power engine named 'Aravalli'. The 'Aravalli' high-power engines are used for the 13-ton Medium Lift class, the Indian Multi-Role Helicopter (<keyword id="22979205" type="General" weightage="20" keywordseo="IMRH" source="keywords">IMRH</keyword>) and the Deck-Based Multi-Role Helicopter (<keyword id="22979206" type="General" weightage="20" keywordseo="DBMRH" source="keywords">DBMRH</keyword>), being designed and developed by HAL. The contract was signed by S Anbuvelan, CEO (Helicopter Complex), HAL and Olivier Savin, Director, SAFHAL Helicopter Engines and EVP, Sales and Marketing, <keyword id="22976653" type="General" weightage="20" keywordseo="Safran-Helicopter-Engines" source="keywords" meta.keywordsubtype="org" meta.entityname="Safran Helicopter Engines" meta.hostid="83" meta.entityid="Safran Helicopter Engines">Safran Helicopter Engines</keyword> and SK Mehta, Director, SAFHAL Helicopter Engines and Executive Director (Finance), HAL. Speaking on occasion, CB Ananthakrishnan, Chairman and Managing Director (Additional Charge), HAL said, "This partnership with SAFHAL marks a pivotal moment in our journey towards achieving technological self-reliance in India's aerospace and defence sector." He further said that the collaboration will ensure the operational capabilities of the IMRH and DBMRH platforms and contribute to the broader goal of indigenous development of critical <keyword id="20825438" type="General" weightage="20" keywordseo="defence-technologies" source="keywords">defence technologies</keyword>. Cedric Goubet, CEO of Safran Helicopter Engines stressed that the combined expertise and resources will ensure the success of the IMRH and DBMRH programs while contributing to the growth of India's aerospace and defence sector. "We are extremely proud to collaborate with HAL on this strategic project, capitalizing on 25 years of successful partnership between Safran and HAL. With this project, we are enriching the collaboration with HAL and the strategic relationship between India and France," Cedric Goubet said. Together we remain fully dedicated to our customers in India. We look forward to designing, producing and supporting those new efficient helicopter engines," he added. SAFHAL, a joint venture between Safran Helicopter Engines SAS and HAL, is dedicated to the design, development, production, sales and support of new-generation helicopter engines in India, marks a significant milestone in India's aerospace and defence sector, aiming to enhance the nation's Aatmanirbharta in helicopter engine technology. Under this strategic contract, SAFHAL will work with its parent companies on cutting-edge engine technologies, ensuring superior performance, reliability, and operational efficiency. This collaboration involves state-of-the-art design, advanced manufacturing processes and rigorous testing protocols to meet the highest global standards. Safran Helicopter Engines has been HAL's partner of choice for powering its helicopters, starting with the Artouste engines used in Cheetah and Chetak, followed by the Shakti engine and its variants powering the ALH, LCH and LUH. The present collaboration elevates this relationship to the next level through the joint design and development of modern state-of-the-art helicopter engines intended for application in Medium Lift Helicopters. IMRH is a new 13-ton multi-role helicopter designed by HAL to meet the requirements of the Indian Armed Forces. A naval version, the 12.5-ton DBMRH is also being developed for the Indian Navy. The engines will be designed to operate in diverse and challenging environments in which these helicopters get deployed. Future extension to the civil market for offshore operations, utility, VVIP transport etc., is also planned followed by MRO activities.

HAL partners with SAFHAL to develop and manufacture 'Aravalli' helicopter engines

Swiss sports bike maker <keyword id="47944" type="General" weightage="20" keywordseo="KTM" source="Orion">KTM</keyword>, which has a manufacturing joint venture with <keyword id="6359783" type="DOMAIN" weightage="20" keywordseo="bajaj-auto" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="bajaj auto" meta.entityname="Bajaj Auto Ltd." meta.entityid="21430" meta.seoname="bajaj-auto-ltd">Bajaj Auto</keyword>, on Friday said it will begin selling the electric model of the resurrected iconic <keyword id="409918" type="General" weightage="20" keywordseo="chetak" source="Orion">Chetak</keyword> in the first quarter of 2024 in Europe. The 50.1:49.9 joint venture also rolled out the 1 millionth KTM bike from the Chakan plant near here. KTM claims to be the world's No 1 premium motorbike brand. The <keyword id="8226904" type="General" weightage="100" keywordseo="e-Chetak" source="Orion">E-Chetak</keyword> especially the second generation, is a great commuter product for a market like Europe. If everything goes as planned we should be selling this <keyword id="3044901" type="General" weightage="20" keywordseo="e-scooter" source="Orion">e-scooter</keyword> in Europe from early 2024. The European marketing season begins in March and we should be ready by then, Stefan Pierer, the chief executive of Perier Mobility which owns the KTM brand told reporters here. Since its launch in 1972, the Chetak became a household name over the decades but since the company made bigger from bikes, Bajaj Auto under the present management led by Rajiv Bajaj 2006 discontinued the Chetak. The iconic scooter made a comeback in October 2019 in the <keyword id="186291" type="General" weightage="20" keywordseo="EV" source="Orion">EV</keyword> form and since then has sold over 24,000 units at a price tag of Rs 1.4 lakh and is available in 40 cities now. The Bajaj KTM tie-up began in October 2007 and the first bike was rolled out in 2011. Rajiv Bajaj addressing the media said half of the 1 million KTMs are on Indian roads and the rest are exported to around 70 countries. On an annual basis, the Chakan plant can manufacture 2 lakh units of various KTM models and last year its output stood at around 1.6 lakh which has fallen further this fiscal due to chip shortage, a bajaj official told PTI here on Friday. Half of the KTMs produced in Pune are shipped to around 70 global markets by KTM while Bajaj ships a portion of its volume to Sri Lanka, Nepal and Indonesia, Pierer said. On achieving the 1 millionth milestone, Bajaj said when we began the KTM partnership in 2007 with the goal of affordable innovation and 15 years later we have not only been successful but have also become strategic partners with a 49.9:50.1 equity holding structure. And given our similar cultures, sustained and trusted cooperation has been built which will soon be extended to electric vehicles and next-generation technologies. He also said the plant is ready to roll our higher-end KTM bikes as and when KTM management wants us. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/hyundai-grand-i10-nios-facelift-launched-price-features-and-more/slidelist/97166586.cms">Hyundai Grand i10 Nios facelift launched – price, features, and more</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/education/news/iit-kanpur-develops-drone-technology-course-for-iits-tech-institutes-skill-development-centres/articleshow/97161282.cms">IIT Kanpur develops drone technology course for IITs, tech institutes &amp; skill development centres</a>

KTM to sell electric version of Chetak in Europe from Q1 of 2024

<ul><li>The <keyword id="433124" type="General" weightage="20" keywordseo="electric-scooter" source="Orion">electric scooter</keyword> segment is expected to witness multiple launches in 2023.</li><li>Suzuki, <keyword id="62356" type="General" weightage="100" keywordseo="tvs" source="Orion">TVS</keyword> and Hero Electric are among the top companies expected to unveil their electric scooters.</li><li>In this post, Business Insider India looks at the best upcoming electric scooters in 2023.</li></ul>The electric two-wheeler market in India is mostly focused on scooters at the moment, with companies like Ola Electric, Ather, Ampere and Hero Electric dominating the market. Popular automakers are also scrambling to get on to the electric club, with companies like TVS Motor and Bajaj launching their own electric scooters <a href="https://www.businessinsider.in/business/auto/news/bajaj-chetak-is-now-available-in-20-cities-checkout-price-features-and-other-details/slidelist/89661825.cms">Bajaj Chetak</a> and <a href="https://www.businessinsider.in/business/auto/news/tvs-new-iqube-electric-scooter-comparison-with-ather-450x-and-ola-s1-pro/articleshow/91657740.cms">TVS iQube</a>. The year 2022 was busy for the electric scooter market with multiple launches, including the affordable <a href="https://www.businessinsider.in/business/auto/news/ola-s1-electric-scooter-relaunched-at-an-introductory-price-electric-car-teased/slidelist/93583724.cms">Ola S1</a>, <a href="https://www.businessinsider.in/business/auto/news/ather-450x-gen-3-vs-ola-s1-vs-tvs-iqube-s-electric-scooters-comparison-of-price-and-features/articleshow/93594152.cms">Ather 450X Gen 3</a> and the <a href="https://www.businessinsider.in/business/auto/news/hero-vida-v1-plus-vs-ather-450x-electric-scooter-comparison-of-price-and-features/slidelist/94753042.cms">Hero Vida V1</a>. The year 2023 is also expected to witness several launches, including electric scooters from Suzuki, Hero Electric, TVS, and more. Business Insider India looks at some of the best electric scooters to be launched in India in 2023. <cmsannotation type="cmsannotation" annotationid="Best upcoming electric scooters in India in 2023" comment="subhead" text="Best upcoming electric scooters in India in 2023">Best upcoming electric scooters in India in 2023</cmsannotation> <cmsannotation type="cmsannotation" annotationid="Suzuki Burgman Street Electric" comment="subhead2" text="Suzuki Burgman Street Electric">Suzuki Burgman Street Electric</cmsannotation> Suzuki, one of the leading two-wheeler companies in the country, is expected to launch an electric variant of its Burgman Street scooter. The Burgman Street Electric is expected to retain the same design as its internal combustion engine (ICE) variant and is expected to be equipped with a 4kW motor. It’s likely to offer a range of around 100 km on a single charge. <cmsannotation type="cmsannotation" annotationid="TVS Creon" comment="subhead2" text="TVS Creon"><keyword id="6218397" type="General" weightage="50" keywordseo="tvs-creon" source="Orion">TVS Creon</keyword></cmsannotation> TVS Motors, another huge player in the ICE segment, is all set to introduce its second electric scooter after the iQube. The electric scooter, dubbed as TVS Creon, is expected to be launched in the second half of 2023 with a sporty design. The electric scooter, which was showcased at the Auto Expo 2018 will reportedly offer a range of 80 km per charge and can go from 0 to 60 km per hour in 5.1 seconds. <cmsannotation type="cmsannotation" annotationid="Gogoro 2 Series" comment="subhead2" text="Gogoro 2 Series">Gogoro 2 Series</cmsannotation> Taiwanese EV manufacturer Gogoro is expected to launch its Gogoro 2 Series in India soon. The 7kW electric scooter offers a range of up to 170 km on a single charge and comes with battery swapping technology. It is expected to make its India debut this year. <cmsannotation type="cmsannotation" annotationid="Honda Activa Electric" comment="subhead2" text="Honda Activa Electric">Honda <keyword id="15803833" type="General" weightage="20" keywordseo="activa-electric" source="Orion">Activa Electric</keyword></cmsannotation> Honda will also reportedly jump on to the electric scooter bandwagon with the launch of an electric variant of the Honda Activa, one of the most popular scooters in the country. The company is expected to launch an electric scooter with a design similar to that of the existing Activa 6G. The electric scooter will reportedly offer a range of 95 km on a single charge. It will be interesting to see how an electric variant of the Activa performs in the market. <cmsannotation type="cmsannotation" annotationid="Simple One" comment="subhead2" text="Simple One">Simple One</cmsannotation> If you have been tracking the electric scooter segment in India, you will be familiar with the <a href="https://www.businessinsider.in/business/auto/news/simple-one-test-drives-to-begin-from-july-20-how-to-book-cities-and-everything-you-need-to-know/articleshow/91888008.cms">Simple One</a>. It is one of the most-awaited electric scooters and is expected to be launched in the first half of 2023. What sets the sporty scooter apart is its range. Simple One will reportedly offer a range of 236 km on a single charge and achieve a top speed of 105 km per hour. <cmsannotation type="cmsannotation" annotationid="Yamaha Electric scooter" comment="subhead2" text="Yamaha Electric scooter"><keyword id="6642977" type="General" weightage="50" keywordseo="yamaha-electric" source="Orion">Yamaha Electric</keyword> scooter</cmsannotation> Yamaha is another well-known brand that is expected to launch an electric scooter in India in 2023. The Japanese automaker is one of the few companies not to have launched an electric scooter in India so far. The company is reportedly testing its electric scooter and is expected to reveal it in the second half of 2023. <cmsannotation type="cmsannotation" annotationid="Hero Electric AE-8" comment="subhead2" text="Hero Electric AE-8">Hero Electric AE-8</cmsannotation> Hero Electric is expected to launch the AE-8, an affordable electric scooter with a top speed of 25 km per hour and a range of 80 km in India in 2023. The scooter features a traditional design and is expected to be aimed at first-time buyers of electric vehicles. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/2023-bmw-s-1000-rr-is-the-latest-superbike-in-india-price-specs-and-features/slidelist/96164191.cms">2023 BMW S 1000 R superbike offers a top speed of 303 km per hour – price, specs and features</a> <a href="https://www.businessinsider.in/business/auto/news/byd-dominates-the-electric-car-market-in-q3-2022-with-6-cars-in-the-top-10/slidelist/95934797.cms">BYD dominates the electric car market in Q3 2022 with 6 cars in the top 10</a> <a href="https://www.businessinsider.in/business/auto/news/bajaj-pulsar-p150-with-an-air-cooled-engine-launched-at-1-17-lakh/slidelist/95709491.cms">Bajaj Pulsar P150 with an air-cooled engine launched at ₹1.17 lakh</a>

From Suzuki and TVS to Hero Electric: Here are some of the top electric scooters expected to launch in 2023

<ul><li>Tekne Private Ventures, Alpine Opportunity Fund, Edelweiss participated in the round.</li><li><keyword id="4393078" type="General" weightage="20" keywordseo="ola-electric" source="Orion">Ola Electric</keyword> had raised <a href="https://www.businessinsider.in/business/startups/news/ola-electric-raises-200-million-from-softbank-falcon-edge-at-valuation-of-3-billion/articleshow/86649236.cms">$200 million </a>from Falcon Edge, SoftBank and others in September 2021.</li><li><keyword id="6354720" type="General" weightage="20" keywordseo="ola" source="Orion">Ola</keyword> Electric was set up in 2017 to run electric taxis on Ola.</li></ul>Ola Electric — the electric vehicle (EV) arm of <keyword id="2200842" type="General" weightage="20" keywordseo="ani-technologies" source="Orion">ANI Technologies</keyword> — has raised $200 million in a funding round at a valuation of $5 billion. Tekne Private Ventures, Alpine Opportunity Fund, Edelweiss and others have participated in the round. “Ola Electric is creating India’s EV revolution and is driving cutting edge manufacturing from India for the entire world. With Ola S1, the best scooter ever made, we’ve changed the entire scooter industry and are now looking forward to bringing our innovative products to more two wheeler categories including bikes as well as cars,” Bhavish Aggarwal, founder and chief executive of Ola, said. The development comes a few months after Ola Electric raised <a href="https://www.businessinsider.in/business/startups/news/ola-electric-raises-200-million-from-softbank-falcon-edge-at-valuation-of-3-billion/articleshow/86649236.cms">$200 million </a>from Falcom Edge, SoftBank and others. The four-year-old company was then valued at $3 billion. The company counts Tiger Global, Matrix Partners India, Hyundai and Kia Motors, Pawan Munjal Family Trust and Ratan Tata as its investors. It is important to note that Ola Electric is the sister company to ride hailing giant Ola, which competes with Uber. Ola was founded in 2010 by Bhavish Aggarwal and Ankit Bhati. The company has its presence across three continents. It has raised more than $4 billion to date from marquee investors like SoftBank, Tencent, Steadview Capital, Eternal, Sailing Capital, China Eurasian Economic Cooperation Fund and others Ola Electric, on the other hand, was set up in 2017 to run electric taxis on Ola. However, the company decided to pivot into electric vehicle (EV) manufacturing and set up the world’s largest electric two-wheeler factory in Tamil Nadu. The said factory is entirely run by women. The company is currently developing its electric scooter, which competes with the likes of Ather 450X, TVS iQube and the new Bajaj Chetak. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/there-are-huge-discounts-on-nykaa-zomato-paytm-and-shares-of-other-listed-tech-startups/articleshow/89086759.cms" data-type="tilCustomLink">There are huge discounts on Nykaa, Zomato and shares of other listed tech startups</a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-results-q3-fy22-profit-revenue-subscriber-growth/articleshow/89034299.cms">Reliance Jio is making the most money it has ever made from its subscribers</a> <a href="https://www.businessinsider.in/business/telecom/news/government-owning-vodafone-idea-is-just-half-the-task-the-other-half-is-to-find-the-money/articleshow/88836355.cms">Government owning Vodafone Idea is just half the task – the other half is to find the money</a>

Ola Electric raises another $200 million, this time at a valuation of $5 billion

IBM and Meta on Tuesday launched the <keyword id="19718778" type="General" weightage="80" keywordseo="ai-alliance" source="Orion">AI Alliance</keyword> in collaboration with over 50 tech companies, founding members and collaborators globally. The AI <keyword id="6365866" type="General" weightage="100" keywordseo="alliance" source="Orion">Alliance</keyword> is focused on fostering an open community and enabling developers and researchers to accelerate responsible innovation in AI while ensuring scientific rigour, trust, safety, security, diversity and economic competitiveness. "This is a pivotal moment in defining the future of AI. IBM is proud to partner with like-minded organizations through the AI Alliance to ensure this open ecosystem drives an innovative AI agenda underpinned by safety, accountability and scientific rigour," said Arvind Krishna, IBM Chairman and CEO. The AI Alliance plans to develop and deploy benchmarks and evaluation standards, tools, and other resources that enable the responsible development and use of AI systems at global scale, including the creation of a catalog of vetted safety, security and trust tools. It aims to foster a vibrant AI hardware accelerator ecosystem by boosting contributions and adoption of essential enabling software technology. The AI Alliance will launch initiatives that encourage open development of AI in safe and beneficial ways, and host events to explore AI use cases and showcase how Alliance members are using open technology in AI responsibly and for good. The other participants in the AI Alliance are AMD, CERN, Cornell University, Dell Technologies, EPFL, ETH, Imperial College London, Intel, Linux Foundation, <keyword id="6360409" type="General" weightage="50" keywordseo="nasa" source="Orion">NASA</keyword>, NSF, Oracle, Partnership on AI, <keyword id="183292" type="General" weightage="50" keywordseo="red-hat" source="Orion">Red Hat</keyword>, Sony Group and Stability AI, among others. <keyword id="130115" type="General" weightage="50" keywordseo="nick-clegg" source="Orion">Nick Clegg</keyword>, President, Global Affairs of Meta, added that the AI Alliance brings together researchers, developers and companies to share tools and knowledge that can help us all make progress whether models are shared openly or not. According to <keyword id="2328581" type="General" weightage="50" keywordseo="lisa-su" source="Orion">Lisa Su</keyword>, AMD CEO and Chair, by embracing open standards and transparency across all aspects of the rapidly developing AI ecosystem, "we can help ensure the transformational benefits of responsible AI are broadly available". SEE ALSO:<a href="https://www.businessinsider.in/business/auto/webstories/bajaj-chetak-urbane-vs-ola-s1-air-electric-scooter-comparison-with-price-and-features/slidelist/105747497.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/bajaj-chetak-urbane-vs-ola-s1-air-electric-scooter-comparison-with-price-and-features/slidelist/105747497.cms" target="_blank">Bajaj Chetak Urbane vs Ola S1 Air – price, range and features compared</a> <a href="https://www.businessinsider.in/india/news/noida-woman-scammed-11-lakh-in-digital-arrest-scam-everything-you-need-to-know/articleshow/105727970.cms">Noida woman scammed ₹11 lakh in digital arrest scam – everything you need to know</a> <a href="https://www.businessinsider.in/business/auto/news/ola-electric-and-tvs-motor-leading-electric-two-wheeler-sales-in-nov-2023-month/articleshow/105719702.cms">Electric two-wheeler sales rise in November as Ola Electric scales a new high</a>

IBM, Meta launch AI Alliance to build open, responsible AI

Wedding bells drive two-wheeler sales in May, passenger vehicles cruise on SUVs

<keyword id="6354427" type="General" weightage="100" keywordseo="apple" source="Orion">Apple</keyword> is working on a self-driving electric car that could launch in a few years and now a new report has claimed that the iPhone maker has partnered with a South Korean company to develop the autopilot chip for its car. According to a report by TheElec, Apple has partnered with a South Korean outsourced semiconductor assembly and test (OSAT) company to develop its car's autopilot technology. The project is led by Apple's South Korean offices. It was initiated in 2021 and is expected to last till next year. Apple is reportedly taking a similar route to Tesla. The Elon Musk-owned EV firm while developing its autopilot chip, used Samsung memory and gave assembly work to JCET STATSChipPAC Korea. <keyword id="2069539" type="General" weightage="20" keywordseo="Apple-Car" source="Orion">Apple Car</keyword> is also expected to use LED screens all over the vehicle to inform other drivers what the self-driving system is doing. The display would show braking information, the speed of the car and other messages in the form of graphics as well as video. For drivers parking the vehicle, the displays could show a goodbye message, or welcome the user on arrival to the vehicle itself, the report added. The upcoming Apple Car is expected to use a "C1" chip based on the A12 Bionic processor with in-cabin AI capabilities such as eye-tracking. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/kia-carens-price-specs-features-comparison-with-alcazar-india/slidelist/89589644.cms">Kia Carens launched in India — Price, specs, features compared to Hyundai Alcazar</a> <a href="https://www.businessinsider.in/business/auto/news/bajaj-chetak-is-now-available-in-20-cities-checkout-price-features-and-other-details/slidelist/89661825.cms">Bajaj Chetak is now available in 20 cities — Checkout price, features and other details</a> <a href="https://www.businessinsider.in/business/auto/news/best-scooters-and-bikes-in-india-under-1-lakh/slidelist/89588060.cms">Best scooters and bikes in India under ₹1 lakh</a>

Apple Car to reportedly feature autopilot tech co-developed with a South Korean company

<ul><li><keyword id="4393078" type="General" weightage="20" keywordseo="ola-electric" source="Orion">Ola Electric</keyword> has invested in an Israeli battery technology company StoreDot.</li><li>The company has claimed that this is the first of several global strategic investments it plans to make.</li><li><keyword id="6354720" type="General" weightage="20" keywordseo="ola" source="Orion">Ola</keyword> Electric was set up in 2017 to run electric taxis on Ola, a cab hailing company that competes with Uber.</li></ul>Ola Electric — the electric vehicle (EV) arm of ANI Technologies — on Monday announced that it has invested in an Israeli battery technology company StoreDot, a company that makes extreme fast charging (XFC) technology for emobility. The company has claimed that this is the first of several global strategic investments it plans to make. This will be a part of Ola Electric’s plan to ramp up its core research and development (R&amp;D) in advanced cell chemistry and manufacturing as well as other battery technologies and new energy systems. As a part of the deal, Ola Electric will have access to StoreDot’s state of the art XFC battery technology that charges a battery from 0 to 100% in just 5 minutes. The Indian company — <a href="https://www.businessinsider.in/business/startups/news/ola-electric-raises-another-200-million-this-time-at-a-valuation-of-5-billion/articleshow/89088739.cms">valued at $5 billion</a> in January — will have the exclusive rights to manufacture batteries integrating StoreDot’s fast charge technology in India. The company also plans to set up a gigafactory for manufacturing cells and meet the demand generated by Ola Future Factory. The company claims to have already submitted a bid under the Indian government’s production linked incentive (PLI) scheme for Advanced Chemistry Cell Battery Storage. <div type="javascript" title="Custom" contenttype="Text"><cdata><![CDATA[<blockquote class="twitter-tweet">We’re investing big into future cell tech. Excited to announce a strategic partnership with StoreDot of Israel. Will be working together to soon bring to market and manufacture its pioneering extreme fast charging cell tech, capable of charging 0-100% in 5 mins in India. (1/2)&mdash; Bhavish Aggarwal (@bhash) <a href="https://twitter.com/bhash/status/1505829650383007744?ref_src=twsrc%5Etfw">March 21, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]></cdata></div> “The future of EVs lies in better, faster and high energy density batteries, capable of rapid charging and delivering higher range. We are increasing our investments in core cell and battery technologies and ramping up our in-house capabilities and global talent hiring, as well as partnering with global companies doing cutting edge work in this field,” Bhavish Aggarwal, founder and chief executive officer (CEO) of Ola, said. Ola Electric was set up in 2017 to run electric taxis on Ola, a cab hailing company that competes with Uber. However, the company decided to pivot into electric vehicle (EV) manufacturing and set up the world’s largest electric two-wheeler factory in Tamil Nadu. The said factory is entirely run by women. The company is currently developing its electric scooter, which competes with the likes of Ather 450X, TVS iQube and the new Bajaj Chetak. It has raised over $800 million to date, <a href="https://www.crunchbase.com/organization/ola-electric/investor_financials">according</a> to business intelligence platform Crunchbase. The company counts Tiger Global, SoftBank, Matrix and others. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/adani-group-ioc-bpcl-hpcl-reliance-hdfc-and-other-hot-stocks-on-march-21/slidelist/90344098.cms">Adani group, IOC, BPCL, HPCL, Reliance, HDFC and other hot stocks on March 21</a> <a href="https://www.businessinsider.in/investment/news/india-is-working-on-crypto-classification-under-gst-law/articleshow/90344895.cms" data-type="tilCustomLink">India is working on crypto classification under GST law</a> <a href="https://www.businessinsider.in/investment/news/crypto-tax-in-india-kicks-in-from-april-heres-all-you-need-to-know/articleshow/90344479.cms">India’s cryptocurrency tax kicks in from April – here’s what investors need to know</a>

Ola Electric just invested in a company that can fully charge its electric scooters in five minutes

<ul><li>Robust demand for passenger vehicles is expected to continue driving <keyword id="46211" type="General" weightage="20" keywordseo="auto-sales" source="Orion">auto sales</keyword> in February. </li><li>This is despite a moderate drop in customer enquiries, according to analysts. </li><li>Electric vehicles in both the passenger vehicle and two-wheeler segments have caught the fancy of customers who are increasingly willing to accept the higher upfront costs in lieu of lower maintenance and operational costs. </li><li>Sales of entry-level cars and two-wheelers are likely to be subdued in February largely due to a weak rural recovery and inflation woes. </li></ul>A robust demand for passenger vehicles (PVs) is expected to boost India’s auto sales numbers for the month of February, as per analysts. This is despite a moderate drop in customer enquiries across carmakers, especially at a time when companies are transitioning to the second phase of BS VI emission norms (also known as BS6 Phase 2). According to analysts at Motilal Oswal, although retail volumes are expected to slow down in February when compared to January, a marriage season in the northern markets and a healthy uptick in urban markets are expected to drive a 10-12% year-on-year growth in the retail segment for the month. “The month of February has been seasonally weak for most of the dealers/OEMs (original equipment manufacturers). Our discussions suggest weakness in two-wheeler sales except for the EVs (electric vehicles), while for PVs the demand remains strong but production constraints still remain on the automatic version and higher variants of SUVs (Sports Utility Vehicles),” said a report by LKP Securities. <cmsannotation type="cmsannotation" annotationid="Carmakers losing 15-20% sales due to supply chain issues" comment="subhead" text="Carmakers losing 15-20% sales due to supply chain issues">Carmakers losing 15-20% sales due to supply chain issues</cmsannotation> According to a dealer check by analysts, both customer footfalls and demand for passenger vehicles have gained strength every month since the pandemic subsided. However, persistent supply chain issues have resulted in carmakers losing out on 15-20% of their business, failing to take full advantage of this rising demand for PVs. Premium cars, and more specifically, the higher-end automatic variants that use technologies like automatic gear shift (AGS) and automated manual transmission (AMT) are the ones facing the most issues, with companies like Maruti Suzuki reporting waiting periods as long as 4-6 months. <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Car models </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Waiting period </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hyundai Creta </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8-9 months </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maruti Suzuki Ertiga (CNG) </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6 months </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maruti Suzuki AGS and AMT variants </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4-6 months </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Tiago EV </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2 months </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">M&amp;M Thar (2WD diesel) </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 year </td></tr></tbody></table> Source: Brokerage reports Analysts also noted that the chip shortage is a bigger problem for Mahindra &amp; Mahindra, since its entire portfolio consists of SUVs, which use chips more than entry-level cars and hatchbacks. Overall, analysts say the robust passenger vehicle demand has resulted in low inventory levels – which are down to 15-20 days – across Maruti Suzuki, Tata Motors and Hyundai. According to a Motilal Oswal report, Maruti Suzuki’s Brezza, Grand Vitara and the newly-launched Jimny and Fronx have an order book between 10,000 to 70,000 units. <cmsannotation type="cmsannotation" annotationid="EVs catch the fancy of customers" comment="subhead" text="EVs catch the fancy of customers">EVs catch the fancy of customers</cmsannotation> Despite the higher initial cost of purchase, analysts say customers are increasingly preferring electric vehicles, be it in the passenger vehicle or the two-wheeler segment. According to a report by JMK Research, sales of electric vehicles rose 29% sequentially in the December quarter to 3.57 lakh units. “EV has gained a super strong and rapid hold on the markets with all the scooter launches in EV fetching solid demand. Customers are ready to bear the one-time high cost in EVs rather than incurring the recurring high operational costs led by rising fuel costs,” said a report by LKP Securities. While electric vehicles are costlier, their maintenance and operation costs are relatively lower than their internal combustion engine (ICE) counterparts. Tata Motors’ EV portfolio now accounts for 15% of its sales, up from 5% a year ago, according to a report by LKP Securities. The company’s Nexon EV remains one of the top performers in the EV segment, with a waiting period of 20-25 days. Tata Motors’ more affordable EV offering, the Tiago EV, has an even higher waiting period of up to two months. On the two-wheeler side, Bajaj Chetak and Hero Vida’s wider availability is expected to boost the overall sales. <cmsannotation type="cmsannotation" annotationid="Customers continue to shun entry-level cars and two-wheelers" comment="subhead" text="Customers continue to shun entry-level cars and two-wheelers">Customers continue to shun entry-level cars and two-wheelers</cmsannotation> Weak rural recovery has also led to a continued decline in demand for entry-level two-wheelers like Hero CD Dawn and CD Deluxe. According to LKP Securities, market leader Hero has witnessed a 5-10% year-on-year drop in demand in February, with customer footfalls at Hero and rival Bajaj dealerships remaining subdued during the month. Price hikes due to higher input costs and BS VI emission norms, higher fuel prices, and inflation woes have contributed to the decline. “Young customers are not favouring the entry level or small hatchbacks like Wagon R, Alto models and are ready to wait till the SUVs are available,” the brokerage noted, underlining that entry-level car sales continued to struggle. The subdued demand was somewhat offset by the marriage season, according to analysts at Motilal Oswal. The brokerage added that premium two-wheelers like those from Royal Enfield have seen their demand remaining intact. However, the lower availability of test vehicles has resulted in some enquiries not translating to sales. <cmsannotation type="cmsannotation" annotationid="Bajaj Auto to reportedly slash production by 25% amid weak exports" comment="subhead" text="Bajaj Auto to reportedly slash production by 25% amid weak exports">Bajaj Auto to reportedly slash production by 25% amid weak exports</cmsannotation> Bajaj Auto is reportedly planning to slash its production in March by as much as 25% due to weak exports. Exports accounted for 39% of the company’s total sales in January 2023, down from 52% in January 2022. According to a report by the<a href="https://economictimes.indiatimes.com/industry/auto/two-wheelers-three-wheelers/bajaj-auto-plans-production-cuts-amid-uncertainties-over-exports/articleshow/98256284.cms?from=mdr"> Economic Times</a>, Bajaj Auto’s production in March is expected to fall to 2.5-2.7 lakh units, down from an average of 3.38 lakh units in each of the the first nine months of FY23. This will also bring down the company’s total utilisation rate to below 50%. Uncertainties in Nigeria, one of Bajaj Auto’s biggest foreign markets, is likely behind the decision to cut down production, the report added. However, analysts believe the company’s export issues have bottomed out. It remains to be seen whether this translates to sales going forward. 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