Pune-based Bajaj Auto announced that it has inked pact with the state government of Maharashtra for setting up a manufacturing facility in Chakan, Pune with a proposed investment of Rs 650 crore.
The manufacturing facility is expected to start its production in 2023 and will be utilised to manufacture high-end two-wheelers motorcycles KTM, Husqvarna and Triumph as well as its electric scooter Chetak.
“The proposed investment further reinforces the commitment of Bajaj Auto to the state of Maharashtra where the journey began,” Bajaj Auto Ltd. said in a statement adding that the development is done in the year when the company celebrates its 75th anniversary.
The Government of Maharashtra will facilitate all the necessary permissions, registrations, approvals, clearances and fiscal incentives for the automaker from the concerned departments as per existing policies.
Bajaj Auto was founded by Jamnalal Bajaj in 1940. It is an Indian multinational that manufactures two-wheeler and three-wheeler such as motorcycles, scooters, and auto rickshaws. With presence in over 70 countries, Bajaj Auto is the world’s third-largest manufacturer of motorcycles and is the second-largest in India.
Maruti Suzuki Expands Its Sales Network with Addition of 3,500 Store
Maruti Suzuki recently opened its 3,500th sales outlet in India alongside the opening of its latest NEXA outlet in Hyderabad.
India’s largest passenger car maker operates in 2,250 cities across the country. The company claims that the recent milestone makes it the only car company in the country with such an extensive network.
From 2017 to 2019, Maruti Suzuki added an average of about 300 stores per year. However, growth has slowed during the pandemic, causing the company to add just 100 stores a year. It passed the 3,000-store milestone in 2020 and now has 3,445 stores as of April 1, 2022.
The milestone also coincides with Suzuki’s 40th anniversary in India. “Our multi-channel sales network helps us meet the needs of various market segments and enhances customer trust in our brand,” said Hisashi Takeuchi, MD and CEO of Maruti Suzuki India.
He further added that a product portfolio with strong hybrids and an extensive sales and service network provides the company with a strong base to connect with customers.
Takeuchi also added, “In India, only 3% of the population owns a car, which allows us to grow and provide mobility to those who aspire to a four-wheeler. We want to make this possible for as many people as possible.” Services can be ‘the joy of moving, and expanding our distribution network is a step in that direction.”
BHEL Supplies NTPC With 6 Electric Locomotives for Material Handling Operations
State-owned BHEL said on Monday it had received an order from NTPC for six electric locomotives for industrial applications for the first time in the country. The locomotives will be built at the company’s factory in Jhansi, Uttar Pradesh.
BHEL said that while the locomotive’s traction motors will be supplied from its Bhopal plant, the IGBT (insulated gate bipolar transistor)-based propulsion equipment will be developed and provided from the Bangalore plant. “BHEL has achieved a breakthrough in the rolling stock business by securing an order for a 6,000-horsepower electric locomotive, the first for industrial applications in the country,” the statement said.
NTPC has placed an order to supply six 6,000 hp electric locomotives for material handling operations at the Lara thermal power project site in Chhattisgarh but did not disclose any further information.
As the world explores new ways to limit carbon emissions in transportation, BHEL’s efforts to provide the industry with environmentally friendly electric locomotives will give a relatively clean alternative to diesel-electric locomotives; the company said. BHEL has supplied Indian Railways with more than 450 electric locomotives of various grades and is running well.
Passenger Vehicle Exports From India Rose 43% in FY22
According to the latest data by the industry body Society of Indian Automobile Manufacturers (SIAM), passenger vehicle exports from India surged by 43 per cent in FY22, with Maruti Suzuki India (MSI) leading the sector with exports of over 2.3 lakh units. In 2021-22, total passenger vehicle (PV) exports were 5,77,875 units, up from 4,04,397 units in the previous fiscal year. Passenger car shipments saw 42 per cent growth at 3,74,986 units, while utility vehicle exports increased by 46 per cent to 2,01,036 units during the last fiscal, the data said.
MSI led the vertical, followed by Hyundai Motor India and Kia India in second and third place, respectively. MSI, the country’s largest automobile manufacturer, exported 2,35,670 PVs last fiscal, up from 94,938 units in the 2020-21 fiscal year. MSI’s top PV export markets include Latin America, ASEAN, Africa, the Middle East and neighbouring regions, with its Baleno, Dzire, Swift, S-Presso and Brezza among its top five export models.
MSI Managing Director and CEO Hisashi Takeuchi said that the company’s exports increased as a result of strong demand as well as better availability of semiconductors for export-oriented units. “Our total production for the domestic market was limited because of the semiconductors shortage. Fortunately, we could get more semiconductors for the export market,” he added.
California Announces to Phase Out New Gas-Powered Vehicles By 2035
California on Wednesday unveiled an aggressive plan to mandate continued growth in sales of electric and zero-emission vehicles, the first step in implementing the first-country goal of banning new petrol-powered vehicles by 2035. Under the proposed rules issued by the California Air Resources Board, 35% of new passenger vehicles sold in the state by 2026 must be powered by batteries or hydrogen. Less than a decade later, the state expects 100% of all new car sales to be free of fossil fuel emissions, which are mainly responsible for global warming.
Currently, 12.4% of new cars sold in California are zero-emissions, according to the board. If the board finalises the plan in August, it could set the bar for the country’s automobile industry. California is the largest auto market in the United States and the 10th largest globally. Also, 15 other states, including New York, Massachusetts, and North Carolina – have previously followed California’s steps regarding tailpipe emissions and may accept similar proposals.
“It’s essential,” said Daniel Sperling, a member of the California Aviation Board and director of the Institute of Transportation Studies at the University of California, Davis. He said the proposed rules, which he hopes to pass, send a signal to the world auto market. “Other countries and other states, they see what California does,” he said. “And so, it will resonate around the world.” The proposal comes as President Joe Biden’s climate agenda is ruined. Biden signed an executive order last year urging the government to ensure that by 2030, half of all cars sold in the United States will be electric.
However, legislation to help make the transition by allocating billions of dollars in electric vehicle tax breaks has been stalled in the Senate. Meanwhile, under pressure to ease high oil prices, the president urges oil companies to drill for more oil. The automaker did not immediately respond to a request for comment on California’s proposed rules.
Gold Trading at Rs 48,610 per 10 gm Today
On Monday, the Gold price of 10 gram of gold increased by Rs 10, with 24 carat trading at Rs 48,10 and 22-carat trading at Rs 46,10. One kg of silver is selling at Rs 60,700 unchanged from Sunday.
In Delhi, the price of 24-carat gold stands at Rs 51,010, while in Mumbai, it is at Rs 48,610, according to the Goodreturns website. The price of 10 gram of 22-carat gold in Delhi and Mumbai is at Rs 46,760 and Rs 46,610, respectively.
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In Chennai, 10 gram of 24-carat gold is selling at Rs 49,010 on Monday, while 10 gram of 22-carat gold is selling at Rs 44,930.
