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Buy Now Pay Later: Maruti Suzuki makes car buying easier for customers
With the aim to make new car purchase easy and affordable, Maruti Suzuki India Limited today announced a partnership with Cholamandalam Investment & Finance Company Limited (CIFCL), one of the leading Non-Banking Financial Companies. The objective of this partnership is to provide customised auto retail financing solutions to retail buyers. The new solution ‘Buy Now Pay Later Offer’’ is aimed to provide customers with easy financing options. A two-month def...
Ultraviolette Automotive receives Series B investment from TVS Motor Company
Following the successful nationwide unveiling of its high-performance motorcycle - the F77, Ultraviolette Automotive Pvt. Ltd., an innovator in sustainable mobility, today announced that it had received an additional investment of INR 30 Crore from TVS Motor Company, a reputed manufacturer of two-wheelers and three-wheelers in the world. This investment is part of its latest round (Series B) of funding. To accelerate the adoption of electric vehicles in India, Ultraviolette...
Two years after its first acquisition in e-mobility, Ampere Electric, the wholly owned electric mobility subsidiary of Greaves Cotton Ltd, announced phased investment potential of INR 700 crore over 10 years to set up a world class e-mobility manufacturing plant in Ranipet, Tamil Nadu. A Memorandum of Understanding (MoU) to this effect was signed by the Company, with the Government of Tamil Nadu, today. At over 1.4 million square feet, the proposed Ranipet manu...
TVS Motor Co announces additional £100 mn investment in Norton Motorcycle
TVS Motor Company, a reputed manufacturer of two-wheelers and three-wheelers globally, today announced an additional investment of £100 million in Norton Motorcycles, Britain's most iconic sporting motorcycle brand, which was acquired in April 2020. Norton recently opened its new manufacturing facility in Solihull, West Midlands, building British bikes in England using traditional hand-crafted techniques with modern-day machinery for consistently high quality. “TVS Mo...
Toyota Group signs MoU with Government of Karnataka for big investments
In its effort to contribute to the country’s vision of “Make in India” and to enable a faster reduction in carbon emissions, out of total investment of INR 4,800 crores, Toyota Group of Companies that constitutes of Toyota Kirloskar Motor and Toyota Kirloskar Auto Parts today announced their Memorandum of Understanding (MOU) with the Government of Karnataka to invest INR 4,100 crores. This announcement coincides with Toyota Kirloskar Motor’s 25 years of successful jour...
Ather Energy, one of India’s leading electric two-wheeler company, today announced completion of its Series E round of funding with signing of investment agreements amounting to $128 million with National Investment and Infrastructure Fund Limited’s (NIIFL) Strategic Opportunities Fund (SOF), and Hero MotoCorp, a significant shareholder of Ather, and additional investors. Ather Energy plans to use the funding to expand manufacturing facilities, invest in Research and Development, ...
M&M backs out of further investment in SYMC
Pawan Goenka, the Managing Director of Mahindra & Mahindra (M&M), told analysts in February this year that if M&M was going to invest more money into South Korean subsidiary SsangYong Motor Company (SYMC), it would first be reasonably certain that the three-year plan chalked out for SYMC would work out and breakeven achieved by 2022. Goenka was referring to the proposed investment of nearly Rs 3000 crore in SYMC, which was yet to come up for consideration of the board of directors...
Chinese investments in India to come under scanner: Sources
Investments from China in the automobile sector are expected to come under the scrutiny of the Indian government, according to reliable sources in the industry. This is in light of the current political situation between India and China, following which the Maharashtra government announced that it has put on hold the Memorandum of Understanding (MoU) with Chinese auto makers Great Wall Motors (GWM) and PMI Electro Mobility Solutions (joint venture with Foton). When contacted, GWM India did...
