Google Maps has unveiled a suite of innovative features tailored for India, leveraging artificial intelligence and local collaborations to enhance journey efficiency and sustainability. These advancements are designed to address India's unique transportation challenges, including navigation through narrow streets and flyovers, locating electric vehicle charging stations, and facilitating metro ticket purchases through partnerships with ONDC and Namma Yatri.

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Miriam Daniel, Vice President and General Manager of Google Maps, emphasized the company's ongoing commitment to improving the Maps experience, particularly in India. She highlighted the use of advanced AI and geospatial technologies to tackle complex real-world issues, with many solutions being developed specifically for the Indian market. These include an AI-driven approach for managing narrow roads and flyovers, features to support sustainable travel with EV charging information, and empowering a vast community of map contributors to provide real-time updates on road conditions.

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To assist four-wheeler drivers in navigating narrow or congested roads, Google has introduced a new feature that aims to minimize the use of such routes. This system employs a sophisticated AI model tailored for Indian roads, which analyzes various data points including satellite imagery, Street View information, road types, and building layouts to estimate road widths accurately. The routing algorithms have been refined to guide four-wheelers away from narrow roads when possible, without significantly impacting travel times or distances. This enhancement not only reduces stress for drivers but also benefits other road users such as cyclists and pedestrians by improving safety on narrow streets.

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In cases where narrow roads cannot be avoided, Google Maps now provides clear notifications on its Directions and Navigation interfaces, alerting users to narrow sections along their route. This allows drivers to proceed with caution or consider alternative paths. The feature is being rolled out initially on Android devices in eight Indian cities: Hyderabad, Bengaluru, Chennai, Coimbatore, Indore, Bhopal, Bhubaneswar, and Guwahati, with plans to expand to iOS and additional cities in the future.

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Recognising the prevalence of flyovers in many Indian cities, Google Maps is introducing a feature to highlight flyovers along recommended routes. This helps users anticipate upcoming elevated roads and prepare accordingly, whether they need to access the flyover or remain on the service road below. This feature is being launched in 40 cities across India for both four-wheeler and two-wheeler navigation on Android apps and Android Auto, with support for iOS and CarPlay coming soon.

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Google plans to make these narrow road and flyover features available to developers through the Google Maps Platform Routes API, enabling integration into third-party apps and services to further enhance location-based experiences in India.

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To support the growing adoption of electric vehicles, Google is introducing detailed information about EV charging stations on both Google Maps and Google Search in India. Through partnerships with leading EV charging providers such as ElectricPe, Ather, Kazam, and Statiq, Google has added comprehensive data for over 8,000 charging stations across the country. Users can now access information on plug types (including those for two-wheelers), real-time availability, and filter results by specific charger types. Notably, this marks the global debut of two-wheeler EV charging station information on Google Maps, with India being the first country to receive this feature.

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In collaboration with ONDC and Namma Yatri, Google Maps is launching a metro ticket booking experience in Kochi and Chennai. This integration allows users to purchase metro tickets directly through Google Maps when searching for public transport directions in these cities, streamlining the journey planning process and eliminating the need to queue at stations.

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Google Maps is also enhancing its incident reporting feature, making it easier for users to share information about road conditions, construction, or traffic incidents. The simplified process allows users to report issues with just a few taps, and even confirm reports from other users, increasing the reliability of crowd-sourced information. This update is available across all platforms - Android, iOS, Android Auto, and Apple CarPlay.

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To enhance trip planning and exploration, Google Maps is improving its list creation and sharing capabilities. Users can now collaborate on lists of favourite places, share recommendations, and vote on destinations using emojis. Additionally, Google has partnered with local experts like NDTV Food and MagicPin to curate lists for ten major Indian cities and tourist spots, offering insider tips on the best places to eat, drink, and explore.

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These new features and partnerships demonstrate Google's commitment to tailoring its Maps service to the unique needs of the Indian market, leveraging AI and local expertise to provide more efficient, sustainable, and enjoyable navigation experiences for users across the country.

Google Maps has unveiled a suite of innovative features tailored for India, leveraging artificial intelligence and local collaborations to enhance journey efficiency and sustainability.

Google Maps has unveiled a suite of innovative features tailored for India, leveraging artificial intelligence and local collaborations to enhance journey efficiency and sustainability. These advancements are designed to address India's unique transportation challenges, including navigation through narrow streets and flyovers, locating electric vehicle charging stations, and facilitating metro ticket purchases through partnerships with ONDC and Namma Yatri. Miriam Daniel, Vice President and General Manager of Google Maps, emphasized the company's ongoing commitment to improving the Maps experience, particularly in India. She highlighted the use of advanced AI and geospatial technologies to tackle complex real-world issues, with many solutions being developed specifically for the Indian market. These include an AI-driven approach for managing narrow roads and flyovers, features to support sustainable travel with EV charging information, and empowering a vast community of map contributors to provide real-time updates on road conditions. To assist four-wheeler drivers in navigating narrow or congested roads, Google has introduced a new feature that aims to minimize the use of such routes. This system employs a sophisticated AI model tailored for Indian roads, which analyzes various data points including satellite imagery, Street View information, road types, and building layouts to estimate road widths accurately. The routing algorithms have been refined to guide four-wheelers away from narrow roads when possible, without significantly impacting travel times or distances. This enhancement not only reduces stress for drivers but also benefits other road users such as cyclists and pedestrians by improving safety on narrow streets. In cases where narrow roads cannot be avoided, Google Maps now provides clear notifications on its Directions and Navigation interfaces, alerting users to narrow sections along their route. This allows drivers to proceed with caution or consider alternative paths. The feature is being rolled out initially on Android devices in eight Indian cities: Hyderabad, Bengaluru, Chennai, Coimbatore, Indore, Bhopal, Bhubaneswar, and Guwahati, with plans to expand to iOS and additional cities in the future. Recognising the prevalence of flyovers in many Indian cities, Google Maps is introducing a feature to highlight flyovers along recommended routes. This helps users anticipate upcoming elevated roads and prepare accordingly, whether they need to access the flyover or remain on the service road below. This feature is being launched in 40 cities across India for both four-wheeler and two-wheeler navigation on Android apps and Android Auto, with support for iOS and CarPlay coming soon. Google plans to make these narrow road and flyover features available to developers through the Google Maps Platform Routes API, enabling integration into third-party apps and services to further enhance location-based experiences in India. To support the growing adoption of electric vehicles, Google is introducing detailed information about EV charging stations on both Google Maps and Google Search in India. Through partnerships with leading EV charging providers such as ElectricPe, Ather, Kazam, and Statiq, Google has added comprehensive data for over 8,000 charging stations across the country. Users can now access information on plug types (including those for two-wheelers), real-time availability, and filter results by specific charger types. Notably, this marks the global debut of two-wheeler EV charging station information on Google Maps, with India being the first country to receive this feature. In collaboration with ONDC and Namma Yatri, Google Maps is launching a metro ticket booking experience in Kochi and Chennai. This integration allows users to purchase metro tickets directly through Google Maps when searching for public transport directions in these cities, streamlining the journey planning process and eliminating the need to queue at stations. Google Maps is also enhancing its incident reporting feature, making it easier for users to share information about road conditions, construction, or traffic incidents. The simplified process allows users to report issues with just a few taps, and even confirm reports from other users, increasing the reliability of crowd-sourced information. This update is available across all platforms - Android, iOS, Android Auto, and Apple CarPlay. To enhance trip planning and exploration, Google Maps is improving its list creation and sharing capabilities. Users can now collaborate on lists of favourite places, share recommendations, and vote on destinations using emojis. Additionally, Google has partnered with local experts like NDTV Food and MagicPin to curate lists for ten major Indian cities and tourist spots, offering insider tips on the best places to eat, drink, and explore. These new features and partnerships demonstrate Google's commitment to tailoring its Maps service to the unique needs of the Indian market, leveraging AI and local expertise to provide more efficient, sustainable, and enjoyable navigation experiences for users across the country.

Google Maps focuses on India: enhances AI features and navigation

Honda Motor, the Japanese automotive giant, has announced significant changes to its manufacturing operations in China as part of a strategic shift towards increased electric vehicle (EV) production.

Honda Motor, the Japanese automotive giant, has announced significant changes to its manufacturing operations in China as part of a strategic shift towards increased electric vehicle (EV) production. This move comes in response to intensifying competition from Chinese brands in the world's largest automotive market. The company plans to implement two major changes to its production facilities in China: 1. Closure of a joint venture plant: Honda will shut down a factory operated in partnership with Guangzhou Automobile Group (GAC), a Chinese state-owned automaker. This plant, which has been in operation for nearly 20 years and has an annual production capacity of 50,000 vehicles, primarily manufactures the Accord sedan model. The closure is scheduled for October. 2. Production halt at another facility: Honda will suspend vehicle production at a separate factory operated through its joint venture with Dongfeng, another Chinese automaker. This facility, with an annual production capacity of 240,000 vehicles, will cease operations in November. These changes are part of Honda's efforts to optimise its output in China, acknowledging the challenging conditions in the Chinese automotive market. As a result of these production stoppages, Honda's annual production capacity in China will decrease from 1.49 million to 1.2 million vehicles. However, Honda has plans to offset this reduction and adapt to the changing market dynamics: 1. New EV plants: The company is currently constructing two new electric vehicle production facilities through its joint ventures with GAC and Dongfeng. These plants are expected to commence operations later this year. 2. Capacity restoration: Once the new EV plants are operational, Honda aims to bring its annual production capacity back up to 1.44 million vehicles, demonstrating its commitment to the Chinese market despite the current challenges. This strategic shift comes in response to the rapidly evolving Chinese automotive landscape. Domestic Chinese automakers have made significant progress in capturing market share by offering competitively priced vehicles loaded with advanced software features. This trend has particularly impacted Japanese brands like Honda and Nissan, for whom China was historically a strong market. The challenges faced by Japanese automakers in China have led to discussions of potential collaborations. In March, Honda and Nissan announced that they were considering a strategic partnership to cooperate on the production of EV components and the development of artificial intelligence for automotive software platforms. These developments underscore the broader shifts occurring in the global automotive industry, with a growing emphasis on electric vehicles and advanced technologies. As traditional automakers like Honda adapt their strategies to remain competitive, the landscape of vehicle production and market dynamics in China and beyond continues to evolve rapidly. The news of Honda's production capacity reduction in China was initially reported by the Nikkei Business Daily, highlighting the significance of these changes for both the company and the broader automotive industry.

Japan's Honda to close China plant, stop production at second factory

Nissan Motor, the Japanese automotive giant, has significantly revised its annual outlook downward following a dramatic decline in first-quarter profit. The company's performance was severely impacted by aggressive discounting strategies in the United States market, leading to financial results that fell far short of analyst expectations and triggered a sharp decline in Nissan's stock price.

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The unexpected poor performance has introduced a new set of concerns for investors, who must now grapple with uncertainties surrounding Nissan's prospects in the United States. This development adds to existing worries about the company's efforts to revitalize its position in another crucial market, China.

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For the April-June quarter, Nissan reported an operating profit of just 995 million yen (approximately USD&nbsp;6.5 million), a stark contrast to the 128.6 billion yen recorded in the same period last year. This figure represents a mere fraction of the 164.4 billion yen average estimate provided by analysts, as compiled by LSEG.

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Acknowledging the challenging quarter, Nissan's Chief Executive Makoto Uchida stated, "The first quarter was a very tough one for Nissan." However, he expressed confidence in the company's ability to recover, citing plans to address current challenges and introduce new models to the market.

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In response to these difficulties, Nissan has announced plans to optimize inventory levels in the United States and focus on improving sales quality. The company intends to strengthen its market position by launching new and refreshed models, including the Armada and Murano SUVs, in the latter half of the financial year.

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Following what has been described as its worst quarterly performance in over three years, Nissan has reduced its operating profit forecast for the current financial year by 17 per cent, bringing it down to 500 billion yen. 

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The company has lowered its retail sales forecast by approximately 50,000 vehicles to 3.65 million units, citing weaker-than-anticipated sales in both the United States and China.

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The significance of these two markets cannot be overstated for Nissan. The United States and China collectively accounted for half of the company's global sales in the previous financial year and 51 per cent&nbsp;in the first quarter of the current year. They are the only two markets where Nissan sold over 100,000 vehicles in the first quarter, with Japan, the company's home market, ranking as its third-largest by sales volume.

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While overall sales volume remained stable year-on-year at 787,000 vehicles for the first quarter, profitability was severely impacted by extensive discounting and increased marketing expenses. These measures were implemented in an attempt to remain competitive and manage inventory levels, particularly in the United States market.

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The market's reaction to Nissan's earnings announcement was swift and severe, with the company's share price plummeting as much as 11 per cent&nbsp;before closing down 7 per cent&nbsp;at 485 yen, marking its most significant single-day decline since February.

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Nissan attributed its struggles in the U.S. market to an ageing product lineup and a shift in consumer preference towards hybrid vehicles. These challenges in the world's largest economy compound the difficulties Nissan faces in China, where it has been striving to regain market share amidst intense price competition with local manufacturers.

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In response to these challenges, Nissan recently announced the suspension of production at one of its eight factories in China, operated through a joint venture with local partner Dongfeng Motor. This move is part of the company's efforts to optimize its operations in the face of ongoing market pressures.

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As Nissan navigates these complex market dynamics, the company's ability to adapt its strategies, refresh its product lineup, and improve operational efficiency will be crucial in determining its future performance and market position in these key global markets.

Nissan Motor, the Japanese automotive giant, has significantly revised its annual outlook downward following a dramatic decline in first-quarter profit. The company's performance was severely impacted by aggressive discounting strategies in the United States market, leading to financial results that fell far short of analyst expectations and triggered a sharp decline in Nissan's stock price.

Nissan Motor, the Japanese automotive giant, has significantly revised its annual outlook downward following a dramatic decline in first-quarter profit. The company's performance was severely impacted by aggressive discounting strategies in the United States market, leading to financial results that fell far short of analyst expectations and triggered a sharp decline in Nissan's stock price. The unexpected poor performance has introduced a new set of concerns for investors, who must now grapple with uncertainties surrounding Nissan's prospects in the United States. This development adds to existing worries about the company's efforts to revitalize its position in another crucial market, China. For the April-June quarter, Nissan reported an operating profit of just 995 million yen (approximately USD 6.5 million), a stark contrast to the 128.6 billion yen recorded in the same period last year. This figure represents a mere fraction of the 164.4 billion yen average estimate provided by analysts, as compiled by LSEG. Acknowledging the challenging quarter, Nissan's Chief Executive Makoto Uchida stated, "The first quarter was a very tough one for Nissan." However, he expressed confidence in the company's ability to recover, citing plans to address current challenges and introduce new models to the market. In response to these difficulties, Nissan has announced plans to optimize inventory levels in the United States and focus on improving sales quality. The company intends to strengthen its market position by launching new and refreshed models, including the Armada and Murano SUVs, in the latter half of the financial year. Following what has been described as its worst quarterly performance in over three years, Nissan has reduced its operating profit forecast for the current financial year by 17 per cent, bringing it down to 500 billion yen. The company has lowered its retail sales forecast by approximately 50,000 vehicles to 3.65 million units, citing weaker-than-anticipated sales in both the United States and China. The significance of these two markets cannot be overstated for Nissan. The United States and China collectively accounted for half of the company's global sales in the previous financial year and 51 per cent in the first quarter of the current year. They are the only two markets where Nissan sold over 100,000 vehicles in the first quarter, with Japan, the company's home market, ranking as its third-largest by sales volume. While overall sales volume remained stable year-on-year at 787,000 vehicles for the first quarter, profitability was severely impacted by extensive discounting and increased marketing expenses. These measures were implemented in an attempt to remain competitive and manage inventory levels, particularly in the United States market. The market's reaction to Nissan's earnings announcement was swift and severe, with the company's share price plummeting as much as 11 per cent before closing down 7 per cent at 485 yen, marking its most significant single-day decline since February. Nissan attributed its struggles in the U.S. market to an ageing product lineup and a shift in consumer preference towards hybrid vehicles. These challenges in the world's largest economy compound the difficulties Nissan faces in China, where it has been striving to regain market share amidst intense price competition with local manufacturers. In response to these challenges, Nissan recently announced the suspension of production at one of its eight factories in China, operated through a joint venture with local partner Dongfeng Motor. This move is part of the company's efforts to optimize its operations in the face of ongoing market pressures. As Nissan navigates these complex market dynamics, the company's ability to adapt its strategies, refresh its product lineup, and improve operational efficiency will be crucial in determining its future performance and market position in these key global markets.

Nissan sees Q1 profit wiped out due to US discounts, shares fall

Stellantis, the world's fourth-largest automaker, has announced a series of measures to address operational challenges following disappointing financial results for the first half of 2024. The company's performance fell short of both internal and market expectations, prompting a significant decline in its stock price and raising concerns among investors and analysts.

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In response to these challenges, Stellantis has committed to implementing a range of strategic actions, with a particular focus on its North American operations. These measures include reducing production output and adjusting pricing strategies to better align with market conditions. The company aims to recalibrate its supply and demand dynamics, especially in the North American market, which has been identified as a key area requiring improvement.

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CEO Carlos Tavares acknowledged the underwhelming results in a statement, highlighting that the company's performance did not meet its anticipated targets. The financial figures reveal the extent of the challenges faced by Stellantis:

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- Adjusted operating income (EBIT) experienced a substantial 40 per cent&nbsp;decrease, falling to Euro&nbsp;8.463 billion for the six months ending June 30, 2024. This figure fell below the analyst consensus of Euro&nbsp;8.85 billion.

- The company's adjusted EBIT margin contracted to just under 10 per cent, failing to maintain the double-digit margin that Stellantis aims to achieve for the full year.

- Free cash flow turned negative, reaching almost minus Euro&nbsp;400 million in the first half of the year.

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Despite these setbacks, Stellantis remains committed to its full-year forecasts, which include achieving a positive industrial free cash flow. CFO Natalie Knight expressed determination to meet the company's adjusted operating income margin target for the year and to generate positive cash flows in the second half of 2024.

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The company's strategic response includes a focus on inventory reduction and improving logistics, particularly in North America, which has been a key profit driver for the group. Knight emphasized that North America is the market requiring the most attention and where efforts will be concentrated in the coming months.

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Stellantis has invested significantly in product development, with 20 new models planned for release this year. The company hopes that this investment will contribute to improved profitability later in the year, offsetting some of the current challenges.

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However, market analysts remain cautious about Stellantis' near-term prospects. Citi analysts, for instance, have expressed scepticism about the company's ability to overcome its current issues quickly, suggesting that the problems may persist until Stellantis successfully addresses its inventory overhang.

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The automotive industry as a whole appears to be facing headwinds, as evidenced by Nissan's recent announcement of severely diminished first-quarter profits and a revised downward annual outlook, largely due to aggressive discounting in the U.S. market.

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As Stellantis navigates these challenges, the effectiveness of its strategic actions and its ability to adapt to changing market conditions will be crucial in determining its financial performance and market position in the coming months.

Stellantis, the world's fourth-largest automaker, has announced a series of measures to address operational challenges following disappointing financial results for the first half of 2024.

Stellantis, the world's fourth-largest automaker, has announced a series of measures to address operational challenges following disappointing financial results for the first half of 2024. The company's performance fell short of both internal and market expectations, prompting a significant decline in its stock price and raising concerns among investors and analysts. In response to these challenges, Stellantis has committed to implementing a range of strategic actions, with a particular focus on its North American operations. These measures include reducing production output and adjusting pricing strategies to better align with market conditions. The company aims to recalibrate its supply and demand dynamics, especially in the North American market, which has been identified as a key area requiring improvement. CEO Carlos Tavares acknowledged the underwhelming results in a statement, highlighting that the company's performance did not meet its anticipated targets. The financial figures reveal the extent of the challenges faced by Stellantis: - Adjusted operating income (EBIT) experienced a substantial 40 per cent decrease, falling to Euro 8.463 billion for the six months ending June 30, 2024. This figure fell below the analyst consensus of Euro 8.85 billion. - The company's adjusted EBIT margin contracted to just under 10 per cent, failing to maintain the double-digit margin that Stellantis aims to achieve for the full year. - Free cash flow turned negative, reaching almost minus Euro 400 million in the first half of the year. Despite these setbacks, Stellantis remains committed to its full-year forecasts, which include achieving a positive industrial free cash flow. CFO Natalie Knight expressed determination to meet the company's adjusted operating income margin target for the year and to generate positive cash flows in the second half of 2024. The company's strategic response includes a focus on inventory reduction and improving logistics, particularly in North America, which has been a key profit driver for the group. Knight emphasized that North America is the market requiring the most attention and where efforts will be concentrated in the coming months. Stellantis has invested significantly in product development, with 20 new models planned for release this year. The company hopes that this investment will contribute to improved profitability later in the year, offsetting some of the current challenges. However, market analysts remain cautious about Stellantis' near-term prospects. Citi analysts, for instance, have expressed scepticism about the company's ability to overcome its current issues quickly, suggesting that the problems may persist until Stellantis successfully addresses its inventory overhang. The automotive industry as a whole appears to be facing headwinds, as evidenced by Nissan's recent announcement of severely diminished first-quarter profits and a revised downward annual outlook, largely due to aggressive discounting in the U.S. market. As Stellantis navigates these challenges, the effectiveness of its strategic actions and its ability to adapt to changing market conditions will be crucial in determining its financial performance and market position in the coming months.

Stellantis misses forecasts with H1 drop in revenue and operating income

In the Union Budget 2024-25 presented on Tuesday, Finance Minister Nirmala Sitharaman unveiled a significant initiative aimed at bolstering India's position in the critical minerals sector. The announcement of the Critical Mineral Mission represents a comprehensive strategy to enhance domestic production, facilitate overseas acquisition of critical mineral assets, and promote recycling efforts.

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This strategic move is expected to have far-reaching implications for the electric vehicle (EV) industry and the renewable energy sector in India. Critical minerals, which are essential components in e-mobility and renewable energy technologies, will now receive focused attention under this mission. The policy framework encompasses various aspects, including technology development, workforce skilling, implementation of an extended producer responsibility framework, and the establishment of appropriate financing mechanisms.

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The announcement builds upon the government's earlier indications in the interim budget presented in February 2024, where the Finance Minister had outlined the government's commitment to promoting energy security in terms of availability, accessibility, and affordability.

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As part of this initiative, the government has exempted 25 critical minerals from customs duties. These minerals, which include lithium, copper, cobalt, and rare earth elements, play crucial roles in various high-tech sectors such as nuclear energy, renewable energy, space exploration, defense, telecommunications, and advanced electronics.

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The auto industry has welcomed this move, recognizing its potential to significantly boost the recycling and production of critical minerals in India. Shradha Suri Marwah, President of ACMA and CMD of Subros, highlighted that the reduction in customs duty to nil on critical minerals would encourage cell manufacturing in the country and contribute to the evolving EV ecosystem.

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Nitin Gupta, co-founder and CEO of Attero, a leading battery recycling company, expressed optimism about the policy's potential to make India self-reliant in critical minerals and position the country as a global recycling hub. He emphasized that the exemption of customs duties on critical minerals would provide a major boost to the processing and refining sectors.

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The initiative is seen as a significant step towards supporting the growth of the EV industry and reinforcing India's commitment to sustainable mobility solutions. Pratik Kamdar, CEO and co-founder of Neuron Energy, praised the decision, noting that it would substantially lower the production costs of battery cells, making electric vehicles more affordable for consumers.

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Ola's Founder, Bhavish Aggarwal, described the Critical Mineral Mission as a potential game-changer for India's energy transition journey, also commending the emphasis on women's employment in the budget.

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In addition to these measures, the Finance Minister announced the continuation of nil Basic Customs Duty (BCD) on ferrous scrap and nickel cathode, as well as a concessional BCD of 2.5 per cent&nbsp;on copper scrap. These decisions are expected to further support the manufacturing and recycling industries in India.

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Overall, the Critical Mineral Mission and associated policy measures represent a comprehensive approach to strengthening India's position in the critical minerals sector, with potential benefits for multiple industries and the country's broader economic and environmental goals.

In the Union Budget 2024-25 presented on Tuesday, Finance Minister Nirmala Sitharaman unveiled a significant initiative aimed at bolstering India's position in the critical minerals sector.

In the Union Budget 2024-25 presented on Tuesday, Finance Minister Nirmala Sitharaman unveiled a significant initiative aimed at bolstering India's position in the critical minerals sector. The announcement of the Critical Mineral Mission represents a comprehensive strategy to enhance domestic production, facilitate overseas acquisition of critical mineral assets, and promote recycling efforts. This strategic move is expected to have far-reaching implications for the electric vehicle (EV) industry and the renewable energy sector in India. Critical minerals, which are essential components in e-mobility and renewable energy technologies, will now receive focused attention under this mission. The policy framework encompasses various aspects, including technology development, workforce skilling, implementation of an extended producer responsibility framework, and the establishment of appropriate financing mechanisms. The announcement builds upon the government's earlier indications in the interim budget presented in February 2024, where the Finance Minister had outlined the government's commitment to promoting energy security in terms of availability, accessibility, and affordability. As part of this initiative, the government has exempted 25 critical minerals from customs duties. These minerals, which include lithium, copper, cobalt, and rare earth elements, play crucial roles in various high-tech sectors such as nuclear energy, renewable energy, space exploration, defense, telecommunications, and advanced electronics. The auto industry has welcomed this move, recognizing its potential to significantly boost the recycling and production of critical minerals in India. Shradha Suri Marwah, President of ACMA and CMD of Subros, highlighted that the reduction in customs duty to nil on critical minerals would encourage cell manufacturing in the country and contribute to the evolving EV ecosystem. Nitin Gupta, co-founder and CEO of Attero, a leading battery recycling company, expressed optimism about the policy's potential to make India self-reliant in critical minerals and position the country as a global recycling hub. He emphasized that the exemption of customs duties on critical minerals would provide a major boost to the processing and refining sectors. The initiative is seen as a significant step towards supporting the growth of the EV industry and reinforcing India's commitment to sustainable mobility solutions. Pratik Kamdar, CEO and co-founder of Neuron Energy, praised the decision, noting that it would substantially lower the production costs of battery cells, making electric vehicles more affordable for consumers. Ola's Founder, Bhavish Aggarwal, described the Critical Mineral Mission as a potential game-changer for India's energy transition journey, also commending the emphasis on women's employment in the budget. In addition to these measures, the Finance Minister announced the continuation of nil Basic Customs Duty (BCD) on ferrous scrap and nickel cathode, as well as a concessional BCD of 2.5 per cent on copper scrap. These decisions are expected to further support the manufacturing and recycling industries in India. Overall, the Critical Mineral Mission and associated policy measures represent a comprehensive approach to strengthening India's position in the critical minerals sector, with potential benefits for multiple industries and the country's broader economic and environmental goals.

Budget 2024-25: 'Critical Mineral Mission' to boost EV battery production

Tesla, the prominent electric vehicle manufacturer, reported disappointing financial results for the second quarter of the year, revealing its lowest profit margin in over five years and failing to meet Wall Street's earnings expectations. The company's performance has been impacted by its strategy of reducing prices to stimulate demand, while simultaneously increasing investments in artificial intelligence projects.

Despite these challenges, Tesla remains optimistic about its future product lineup. The company announced that it is on track to introduce new vehicles, including more affordable models, in the first half of 2025. However, it cautioned that these new models may not deliver the level of cost reduction initially anticipated. This news led to an 8 per cent&nbsp;drop in Tesla's stock price during after-hours trading.

The second quarter proved to be turbulent for Tesla, with CEO Elon Musk making significant strategic decisions. He abandoned plans for an entirely new, cheaper car model in favor of developing less ambitious, lower-cost variants. Additionally, Musk has been focusing on the creation of self-driving taxis, a move that has helped boost investor confidence and share prices.

In an effort to reduce costs, Tesla implemented layoffs affecting more than 10% of its workforce. The company also noted that its profits were negatively impacted by restructuring charges and increased operating expenses, largely attributed to its investments in artificial intelligence projects.

Tesla's automotive gross margin, excluding regulatory credits, stood at 14.6 per cent&nbsp;for the second quarter. This figure fell short of analyst expectations, which averaged 16.29 per cent&nbsp;according to a poll of 20 analysts by Visible Alpha.

Investment analyst Dan Coatsworth from AJ Bell pointed out that Tesla has now missed earnings targets for four consecutive quarters. He expressed concern about the company's focus on future technologies, stating, "There is a lot of talk about robotaxis, humanoid robots and autonomous driving, which provides an exciting narrative for investors but doesn't get over the fact that these are tomorrow's potential riches, not today's."

During a conference call with analysts, Musk acknowledged the increasing competition in the electric vehicle market. He noted that other manufacturers have significantly discounted their EVs, making the market more challenging for Tesla.

The company has faced declining electric vehicle deliveries for two consecutive quarters, grappling with intensifying competition and sluggish demand due to a lack of new affordable models. In particular, Tesla's sales of China-made EVs, which are also exported to Europe and other markets, experienced a significant decline in the second quarter compared to the previous year. This contrasts sharply with the strong sales growth reported by Chinese automakers like BYD Co.

Despite these challenges, Tesla remains optimistic about its near-term production outlook, projecting a sequential increase in production for the third quarter.

The company reported revenue of USD 25.50 billion for the quarter, slightly surpassing both last year's figures and analyst expectations, according to data from LSEG. Notably, Tesla's sales of regulatory credits nearly tripled to a record $890 million in the second quarter compared to the same period last year. These credits are purchased by traditional automakers to meet regulatory targets for clean-vehicle production.

However, Tesla's net income for the second quarter was USD 1.48 billion, a significant decrease from USD 2.70 billion in the same quarter of the previous year. The company's adjusted earnings of 52 cents per share fell short of the Wall Street consensus of 62 cents, as calculated by LSEG.

Musk continues to position Tesla as a technology company, emphasizing the importance of self-driving technology. He predicted that Tesla's self-driving software would be capable of operating vehicles without human supervision by next year, expressing confidence in this timeline.

The company stated that the deployment of its Robotaxi service would depend on technological advancements and regulatory approval. However, Musk expressed optimism about obtaining regulatory approval for Tesla's "supervised" Full Self-Driving software in China and Europe by the end of this year.

Tesla has postponed the unveiling of its Robotaxi product from August 8 to October 10, citing the need to make important modifications to the vehicle. This announcement came after Reuters reported that Tesla had shifted its focus to self-driving taxis, shelving plans for a long-promised, more affordable car priced around USD 25,000.

Regarding other projects, Tesla confirmed that Cybertruck production remains on schedule to achieve profitability by the end of the year. The company has also begun validating its first prototype Cybertruck vehicles using a breakthrough battery manufacturing technology called dry coating, which is expected to significantly reduce costs once fully implemented.

Tesla, the prominent electric vehicle manufacturer, reported disappointing financial results for the second quarter of the year, revealing its lowest profit margin in over five years and failing to meet Wall Street's earnings expectations.

Tesla, the prominent electric vehicle manufacturer, reported disappointing financial results for the second quarter of the year, revealing its lowest profit margin in over five years and failing to meet Wall Street's earnings expectations. The company's performance has been impacted by its strategy of reducing prices to stimulate demand, while simultaneously increasing investments in artificial intelligence projects. Despite these challenges, Tesla remains optimistic about its future product lineup. The company announced that it is on track to introduce new vehicles, including more affordable models, in the first half of 2025. However, it cautioned that these new models may not deliver the level of cost reduction initially anticipated. This news led to an 8 per cent drop in Tesla's stock price during after-hours trading. The second quarter proved to be turbulent for Tesla, with CEO Elon Musk making significant strategic decisions. He abandoned plans for an entirely new, cheaper car model in favor of developing less ambitious, lower-cost variants. Additionally, Musk has been focusing on the creation of self-driving taxis, a move that has helped boost investor confidence and share prices. In an effort to reduce costs, Tesla implemented layoffs affecting more than 10% of its workforce. The company also noted that its profits were negatively impacted by restructuring charges and increased operating expenses, largely attributed to its investments in artificial intelligence projects. Tesla's automotive gross margin, excluding regulatory credits, stood at 14.6 per cent for the second quarter. This figure fell short of analyst expectations, which averaged 16.29 per cent according to a poll of 20 analysts by Visible Alpha. Investment analyst Dan Coatsworth from AJ Bell pointed out that Tesla has now missed earnings targets for four consecutive quarters. He expressed concern about the company's focus on future technologies, stating, "There is a lot of talk about robotaxis, humanoid robots and autonomous driving, which provides an exciting narrative for investors but doesn't get over the fact that these are tomorrow's potential riches, not today's." During a conference call with analysts, Musk acknowledged the increasing competition in the electric vehicle market. He noted that other manufacturers have significantly discounted their EVs, making the market more challenging for Tesla. The company has faced declining electric vehicle deliveries for two consecutive quarters, grappling with intensifying competition and sluggish demand due to a lack of new affordable models. In particular, Tesla's sales of China-made EVs, which are also exported to Europe and other markets, experienced a significant decline in the second quarter compared to the previous year. This contrasts sharply with the strong sales growth reported by Chinese automakers like BYD Co. Despite these challenges, Tesla remains optimistic about its near-term production outlook, projecting a sequential increase in production for the third quarter. The company reported revenue of USD 25.50 billion for the quarter, slightly surpassing both last year's figures and analyst expectations, according to data from LSEG. Notably, Tesla's sales of regulatory credits nearly tripled to a record $890 million in the second quarter compared to the same period last year. These credits are purchased by traditional automakers to meet regulatory targets for clean-vehicle production. However, Tesla's net income for the second quarter was USD 1.48 billion, a significant decrease from USD 2.70 billion in the same quarter of the previous year. The company's adjusted earnings of 52 cents per share fell short of the Wall Street consensus of 62 cents, as calculated by LSEG. Musk continues to position Tesla as a technology company, emphasizing the importance of self-driving technology. He predicted that Tesla's self-driving software would be capable of operating vehicles without human supervision by next year, expressing confidence in this timeline. The company stated that the deployment of its Robotaxi service would depend on technological advancements and regulatory approval. However, Musk expressed optimism about obtaining regulatory approval for Tesla's "supervised" Full Self-Driving software in China and Europe by the end of this year. Tesla has postponed the unveiling of its Robotaxi product from August 8 to October 10, citing the need to make important modifications to the vehicle. This announcement came after Reuters reported that Tesla had shifted its focus to self-driving taxis, shelving plans for a long-promised, more affordable car priced around USD 25,000. Regarding other projects, Tesla confirmed that Cybertruck production remains on schedule to achieve profitability by the end of the year. The company has also begun validating its first prototype Cybertruck vehicles using a breakthrough battery manufacturing technology called dry coating, which is expected to significantly reduce costs once fully implemented.

⁠Tesla profit margins worst in five years as price cuts, incentives weigh

Porsche AG, the renowned German luxury sports car manufacturer, has been compelled to revise its sales and profit projections for the year due to an unexpected disruption in its aluminium alloy supply chain. This announcement, made on Tuesday, led to a significant 4 per cent&nbsp;drop in the company's stock price, positioning it at the bottom of Frankfurt's prestigious blue-chip index.

The root cause of this supply chain disruption has been attributed to severe flooding at a European contractor's facility, though Porsche has not disclosed the specific location or identity of this supplier. The impact of this event is far-reaching, affecting the production of Porsche's entire model range and potentially leading to temporary shutdowns for one or more vehicle series.

In a formal communication, Porsche revealed that the affected supplier had invoked force majeure in writing. This legal provision allows a party to be relieved of its contractual obligations due to extraordinary circumstances beyond its control, such as natural disasters or other unforeseen events.

Novelis, a subsidiary of Hindalco Industries and a key aluminium supplier to a joint venture co-owned by Porsche, confirmed that it had informed its automotive customers of a force majeure event. This event necessitated the closure of one of its plants in late June. While the aluminium shortage has also impacted other German premium automakers like BMW and Mercedes-Benz, these companies have managed to secure alternative suppliers, mitigating the impact on their operations.

Constellium, a U.S.-listed aluminium manufacturer headquartered in France, clarified that it does not supply Porsche from its Swiss facility. However, the company disclosed in its earnings statement that it remains uncertain about when production will resume at its Valais facilities, which were affected by flooding in late June.

When approached for comment, Norsk Hydro CEO Eivind Kallevik declined to provide information on whether the Norwegian aluminium producer could increase its output to address the shortfall or if it had received inquiries from customers seeking additional product. It's worth noting that all three of these companies list Porsche or its affiliated firms among their clientele.

The aluminium alloy shortage is particularly problematic for Porsche because aluminium components are integral to all of its vehicle series. This reliance on a single supplier has exposed the company to significant risk. This latest challenge adds to a series of issues Porsche has faced in recent months, including software problems, product delays, supply chain disruptions, and declining sales in the crucial Chinese market.

Financial analyst Stephen Reitman of Bernstein Research described the situation dramatically, stating, "It's been a biblical flood that's wiped away the gains from the IPO." This comment refers to Porsche's initial public offering in September 2022, which saw the company's shares close at 82.50 euros in Germany's second-largest market debut. In stark contrast, the shares were trading at 69.66 euros on Tuesday, representing a 4.1 per cent&nbsp;decline.

Bernstein analysts have estimated that the flooding at the Swiss supplier could result in a production loss of between 10,000 and 17,400 vehicles in the second half of 2024. At the upper end of this range, this figure represents over 11 per cent&nbsp;of Porsche's deliveries in the first half of the year.

In response to these developments, Porsche AG has adjusted its sales forecast to between 39 billion and 40 billion euros ( USD 44 billion), down from its previous projection of 40 billion to 42 billion euros. The company has acknowledged that the delays in production and vehicle delivery are unlikely to be fully compensated for during the remainder of the year.

Porsche has revised its return on sales expectation to between 14 per cent&nbsp;and 15 per cent&nbsp;for the year, a decrease from its earlier projection of 15 per cent&nbsp;to 17 per cent. The company is scheduled to report its first-half results on Wednesday.

Adding to Porsche's challenges is a slowdown in demand from the Chinese market, which has contributed to a 7 per cent&nbsp;decline in global deliveries during the first half of the year. The company is also grappling with disappointing electric vehicle sales, prompting it to scale back its EV ambitions on Monday, citing evolving customer preferences and industry trends.

Despite these setbacks for Porsche AG, Porsche SE, the holding company controlled by the Porsche and Piech families that oversees Volkswagen and holds a blocking minority in Porsche AG, has maintained its earnings forecast for 2024. 
&nbsp;

Porsche AG, the renowned German luxury sports car manufacturer, has been compelled to revise its sales and profit projections for the year due to an unexpected disruption in its aluminium alloy supply chain.

Porsche AG, the renowned German luxury sports car manufacturer, has been compelled to revise its sales and profit projections for the year due to an unexpected disruption in its aluminium alloy supply chain. This announcement, made on Tuesday, led to a significant 4 per cent drop in the company's stock price, positioning it at the bottom of Frankfurt's prestigious blue-chip index. The root cause of this supply chain disruption has been attributed to severe flooding at a European contractor's facility, though Porsche has not disclosed the specific location or identity of this supplier. The impact of this event is far-reaching, affecting the production of Porsche's entire model range and potentially leading to temporary shutdowns for one or more vehicle series. In a formal communication, Porsche revealed that the affected supplier had invoked force majeure in writing. This legal provision allows a party to be relieved of its contractual obligations due to extraordinary circumstances beyond its control, such as natural disasters or other unforeseen events. Novelis, a subsidiary of Hindalco Industries and a key aluminium supplier to a joint venture co-owned by Porsche, confirmed that it had informed its automotive customers of a force majeure event. This event necessitated the closure of one of its plants in late June. While the aluminium shortage has also impacted other German premium automakers like BMW and Mercedes-Benz, these companies have managed to secure alternative suppliers, mitigating the impact on their operations. Constellium, a U.S.-listed aluminium manufacturer headquartered in France, clarified that it does not supply Porsche from its Swiss facility. However, the company disclosed in its earnings statement that it remains uncertain about when production will resume at its Valais facilities, which were affected by flooding in late June. When approached for comment, Norsk Hydro CEO Eivind Kallevik declined to provide information on whether the Norwegian aluminium producer could increase its output to address the shortfall or if it had received inquiries from customers seeking additional product. It's worth noting that all three of these companies list Porsche or its affiliated firms among their clientele. The aluminium alloy shortage is particularly problematic for Porsche because aluminium components are integral to all of its vehicle series. This reliance on a single supplier has exposed the company to significant risk. This latest challenge adds to a series of issues Porsche has faced in recent months, including software problems, product delays, supply chain disruptions, and declining sales in the crucial Chinese market. Financial analyst Stephen Reitman of Bernstein Research described the situation dramatically, stating, "It's been a biblical flood that's wiped away the gains from the IPO." This comment refers to Porsche's initial public offering in September 2022, which saw the company's shares close at 82.50 euros in Germany's second-largest market debut. In stark contrast, the shares were trading at 69.66 euros on Tuesday, representing a 4.1 per cent decline. Bernstein analysts have estimated that the flooding at the Swiss supplier could result in a production loss of between 10,000 and 17,400 vehicles in the second half of 2024. At the upper end of this range, this figure represents over 11 per cent of Porsche's deliveries in the first half of the year. In response to these developments, Porsche AG has adjusted its sales forecast to between 39 billion and 40 billion euros ( USD 44 billion), down from its previous projection of 40 billion to 42 billion euros. The company has acknowledged that the delays in production and vehicle delivery are unlikely to be fully compensated for during the remainder of the year. Porsche has revised its return on sales expectation to between 14 per cent and 15 per cent for the year, a decrease from its earlier projection of 15 per cent to 17 per cent. The company is scheduled to report its first-half results on Wednesday. Adding to Porsche's challenges is a slowdown in demand from the Chinese market, which has contributed to a 7 per cent decline in global deliveries during the first half of the year. The company is also grappling with disappointing electric vehicle sales, prompting it to scale back its EV ambitions on Monday, citing evolving customer preferences and industry trends. Despite these setbacks for Porsche AG, Porsche SE, the holding company controlled by the Porsche and Piech families that oversees Volkswagen and holds a blocking minority in Porsche AG, has maintained its earnings forecast for 2024.

Porsche cuts forecasts due to alloy shortage, shares fall

Finance Minister Nirmala Sitharaman unveiled the Union Budget 2024, introducing significant initiatives across various sectors including agriculture, manufacturing, and services. The budget also brought about substantial modifications to the capital gains tax structure and income tax frameworks. Sitharaman emphasised that the government has been given a unique opportunity by the people to guide the nation towards robust development and comprehensive prosperity. She stated that this interim budget would present a detailed roadmap for the pursuit of 'Viksit Bharat'.

A major highlight of the budget was the allocation of INR 26,000 crore for enhancing road connectivity projects. This initiative is part of a broader development plan for Bihar and other eastern states under the 'Purvodaya' scheme.&nbsp;

The scheme aims to boost human resource development, infrastructure growth, and create economic opportunities in Bihar, Jharkhand, West Bengal, Andhra Pradesh, and Odisha. Specific to Bihar, the Finance Minister announced plans to develop the Amritsar-Kolkata industrial corridor, with Gaya as an industrial node. This move is expected to stimulate industrial development in the eastern region. The transformation of Gaya is intended to serve as a model for developing ancient cultural centers into hubs of modern economy, embodying the principle of "Vikas bhi, virasat bhi" (Development along with heritage).

The infrastructure boost for Bihar includes the development of the Patna-Purnia expressway, Buxar-Bhagalpur expressway, and an additional two-lane bridge over the Ganga river in Buxar.

In a significant move towards mineral security, the budget introduced a 'Critical Mineral Mission' aimed at domestic production, recycling, and overseas acquisition of critical mineral assets. This mission will focus on technology development, workforce skilling, and establishing financing mechanisms. The government announced the exemption of customs duties on 25 critical minerals and a reduction in Basic Customs Duty (BCD) on two others. This measure is expected to significantly boost the processing and refining of these minerals, ensuring their availability for strategic sectors such as nuclear energy, renewable energy, space, defense, telecommunications, and high-tech electronics.

To stimulate job creation in the manufacturing sector, the Finance Minister introduced a scheme to incentivise the employment of first-time workers. This initiative will provide benefits to both employees and employers regarding EPFO contributions for the initial four years of employment. The scheme is projected to benefit 30 lakh youth and cover additional employment across all sectors. The government plans to reimburse employers up to INR 3,000 per month for two years towards EPFO contributions for each additional employee, aiming to incentivize the employment of 50 lakh people.

Support for Micro, Small, and Medium Enterprises (MSMEs) featured prominently in the budget, with eight new measures proposed. These include a credit guarantee scheme for MSMEs making capital investments in the manufacturing sector, with coverage up to INR 100 crore. Public Sector Banks are tasked with developing new assessment models for providing credit to MSMEs. The budget also proposes credit support for MSMEs during stress periods from a government-promoted fund. The MUDRA loan limit has been enhanced to INR 20 lakh for credit-worthy entrepreneurs. Other measures include reducing the turnover threshold for mandatory onboarding in TReDS, establishing 24 new SIDBI branches in MSME clusters, setting up new MSME units for food irradiation and quality testing, and creating e-commerce export hubs for MSMEs and traditional artisans.

Lastly, the Finance Minister announced a comprehensive review of the Income Tax Act to enhance its clarity and readability. Changes to the new tax regime slabs were introduced, along with an increase in the standard tax deduction from INR 50,000 to INR 75,000.

Finance Minister Nirmala Sitharaman unveiled the Union Budget 2024, introducing significant initiatives across various sectors including agriculture, manufacturing, and services.

Finance Minister Nirmala Sitharaman unveiled the Union Budget 2024, introducing significant initiatives across various sectors including agriculture, manufacturing, and services. The budget also brought about substantial modifications to the capital gains tax structure and income tax frameworks. Sitharaman emphasised that the government has been given a unique opportunity by the people to guide the nation towards robust development and comprehensive prosperity. She stated that this interim budget would present a detailed roadmap for the pursuit of 'Viksit Bharat'. A major highlight of the budget was the allocation of INR 26,000 crore for enhancing road connectivity projects. This initiative is part of a broader development plan for Bihar and other eastern states under the 'Purvodaya' scheme. The scheme aims to boost human resource development, infrastructure growth, and create economic opportunities in Bihar, Jharkhand, West Bengal, Andhra Pradesh, and Odisha. Specific to Bihar, the Finance Minister announced plans to develop the Amritsar-Kolkata industrial corridor, with Gaya as an industrial node. This move is expected to stimulate industrial development in the eastern region. The transformation of Gaya is intended to serve as a model for developing ancient cultural centers into hubs of modern economy, embodying the principle of "Vikas bhi, virasat bhi" (Development along with heritage). The infrastructure boost for Bihar includes the development of the Patna-Purnia expressway, Buxar-Bhagalpur expressway, and an additional two-lane bridge over the Ganga river in Buxar. In a significant move towards mineral security, the budget introduced a 'Critical Mineral Mission' aimed at domestic production, recycling, and overseas acquisition of critical mineral assets. This mission will focus on technology development, workforce skilling, and establishing financing mechanisms. The government announced the exemption of customs duties on 25 critical minerals and a reduction in Basic Customs Duty (BCD) on two others. This measure is expected to significantly boost the processing and refining of these minerals, ensuring their availability for strategic sectors such as nuclear energy, renewable energy, space, defense, telecommunications, and high-tech electronics. To stimulate job creation in the manufacturing sector, the Finance Minister introduced a scheme to incentivise the employment of first-time workers. This initiative will provide benefits to both employees and employers regarding EPFO contributions for the initial four years of employment. The scheme is projected to benefit 30 lakh youth and cover additional employment across all sectors. The government plans to reimburse employers up to INR 3,000 per month for two years towards EPFO contributions for each additional employee, aiming to incentivize the employment of 50 lakh people. Support for Micro, Small, and Medium Enterprises (MSMEs) featured prominently in the budget, with eight new measures proposed. These include a credit guarantee scheme for MSMEs making capital investments in the manufacturing sector, with coverage up to INR 100 crore. Public Sector Banks are tasked with developing new assessment models for providing credit to MSMEs. The budget also proposes credit support for MSMEs during stress periods from a government-promoted fund. The MUDRA loan limit has been enhanced to INR 20 lakh for credit-worthy entrepreneurs. Other measures include reducing the turnover threshold for mandatory onboarding in TReDS, establishing 24 new SIDBI branches in MSME clusters, setting up new MSME units for food irradiation and quality testing, and creating e-commerce export hubs for MSMEs and traditional artisans. Lastly, the Finance Minister announced a comprehensive review of the Income Tax Act to enhance its clarity and readability. Changes to the new tax regime slabs were introduced, along with an increase in the standard tax deduction from INR 50,000 to INR 75,000.

Union budget 2024: FM allocates INR 26,000 cr for roads, custom duties on critical minerals exempted

Mahindra Logistics Ltd (MLL), a prominent player in the Indian logistics sector, has released its financial results for the first quarter of the fiscal year 2025, which ended in June 2024. The report reveals a mixed picture of the company's performance, highlighting both challenges and areas of growth.

In terms of profitability, MLL experienced a significant decline in its standalone profit for the quarter. The company reported a profit after tax (PAT) of INR 10.15 crore, which represents a substantial 55 per cent decrease compared to the same period in the previous fiscal year when it recorded a PAT of INR 22.90 crore. This considerable reduction in profit has been attributed to several factors, including higher startup costs associated with new ventures or expansions, increased expenses related to manpower, and additional costs incurred for warehouse leasing.

Despite the challenges on the profit front, MLL demonstrated resilience in its revenue generation. The company achieved a 10 per cent growth in revenue, with the figure reaching INR 1,156.66 crore for the quarter. This marks a notable increase from the INR 1,050.92 crore reported during the corresponding period in the previous year. The revenue growth suggests that MLL has been successful in expanding its business operations and securing new contracts, even in the face of a challenging economic environment.

Breaking down the performance of individual business segments, the contract logistics division of MLL showed positive momentum with a 9 per cent year-on-year revenue growth in the first quarter of FY25. This growth in the contract logistics segment indicates the company's ability to secure and maintain long-term partnerships with clients, providing integrated logistics solutions.

The freight forwarding business of MLL demonstrated particularly strong performance, registering a 12 per cent increase in revenue on a quarter-on-quarter basis. This growth was primarily driven by an uptick in demand for inbound ocean cargo services. The positive trend in the freight forwarding segment suggests that MLL has been effective in capitalising on the recovery of international trade and the increasing need for efficient cross-border logistics solutions.

MLL's express business also showed signs of improvement, although&nbsp;more modest in comparison to other segments. The express division achieved a 2 per cent increase in revenue year-on-year. More significantly, it managed to reduce its PAT losses by 16 per cent, which the company attributes to ongoing cost optimisation efforts. This reduction in losses indicates that MLL's strategies to enhance operational efficiency and streamline costs in its express business are yielding positive results.

Rampraveen Swaminathan, the Managing Director and CEO of Mahindra Logistics Ltd, provided insights into the company's performance and outlook. He noted that despite a subdued demand environment, MLL witnessed healthy order booking in its third-party logistics (3PL) and cross-border business during the quarter. Swaminathan highlighted the particular success of the cross-border business, which saw good traction driven by growing demand for inbound ocean cargo services.

The company also reported advancements in other areas of its operations. MLL saw improvements in its mobility services, last-mile delivery solutions, and auto outbound logistics business, which operates under the brand 2x2. Swaminathan emphasised that these divisions continued on their improvement trajectory and delivered strong performances during the quarter.

A notable milestone for MLL was the expansion of its warehouse space under management in the third-party logistics business, which now exceeds 20 million square feet. This substantial increase in managed warehouse space underscores the company's growing capabilities in providing comprehensive logistics solutions and its ability to meet the diverse needs of its clients across various industries.

While acknowledging the positive developments, Swaminathan also addressed the challenges faced by the company during the quarter. He explained that earnings were impacted by extended startup costs, along with higher expenses related to manpower and warehouse leasing. The express business, in particular, felt the effects of lower volumes, although this was partially offset by the company's cost optimisation initiatives.

Looking ahead, Swaminathan expressed optimism about MLL's future performance. He anticipates a strong improvement in overall operating performance in the latter part of the year, suggesting that the company has strategies in place to address current challenges and capitalise on emerging opportunities in the logistics sector.

In conclusion, while Mahindra Logistics Ltd faced some headwinds in terms of profitability during the first quarter of FY25, the company demonstrated resilience through revenue growth and improvements across various business segments. The management's focus on cost optimisation, coupled with strategic expansions and improvements in key areas, positions MLL to potentially overcome current challenges and drive growth in the coming quarters. The logistics sector continues to be a critical component of India's economic infrastructure, and MLL's performance will be closely watched as an indicator of broader trends in the industry.&nbsp;

Mahindra Logistics Ltd (MLL), a prominent player in the Indian logistics sector, has released its financial results for the first quarter of the fiscal year 2025, which ended in June 2024.

Mahindra Logistics Ltd (MLL), a prominent player in the Indian logistics sector, has released its financial results for the first quarter of the fiscal year 2025, which ended in June 2024. The report reveals a mixed picture of the company's performance, highlighting both challenges and areas of growth. In terms of profitability, MLL experienced a significant decline in its standalone profit for the quarter. The company reported a profit after tax (PAT) of INR 10.15 crore, which represents a substantial 55 per cent decrease compared to the same period in the previous fiscal year when it recorded a PAT of INR 22.90 crore. This considerable reduction in profit has been attributed to several factors, including higher startup costs associated with new ventures or expansions, increased expenses related to manpower, and additional costs incurred for warehouse leasing. Despite the challenges on the profit front, MLL demonstrated resilience in its revenue generation. The company achieved a 10 per cent growth in revenue, with the figure reaching INR 1,156.66 crore for the quarter. This marks a notable increase from the INR 1,050.92 crore reported during the corresponding period in the previous year. The revenue growth suggests that MLL has been successful in expanding its business operations and securing new contracts, even in the face of a challenging economic environment. Breaking down the performance of individual business segments, the contract logistics division of MLL showed positive momentum with a 9 per cent year-on-year revenue growth in the first quarter of FY25. This growth in the contract logistics segment indicates the company's ability to secure and maintain long-term partnerships with clients, providing integrated logistics solutions. The freight forwarding business of MLL demonstrated particularly strong performance, registering a 12 per cent increase in revenue on a quarter-on-quarter basis. This growth was primarily driven by an uptick in demand for inbound ocean cargo services. The positive trend in the freight forwarding segment suggests that MLL has been effective in capitalising on the recovery of international trade and the increasing need for efficient cross-border logistics solutions. MLL's express business also showed signs of improvement, although more modest in comparison to other segments. The express division achieved a 2 per cent increase in revenue year-on-year. More significantly, it managed to reduce its PAT losses by 16 per cent, which the company attributes to ongoing cost optimisation efforts. This reduction in losses indicates that MLL's strategies to enhance operational efficiency and streamline costs in its express business are yielding positive results. Rampraveen Swaminathan, the Managing Director and CEO of Mahindra Logistics Ltd, provided insights into the company's performance and outlook. He noted that despite a subdued demand environment, MLL witnessed healthy order booking in its third-party logistics (3PL) and cross-border business during the quarter. Swaminathan highlighted the particular success of the cross-border business, which saw good traction driven by growing demand for inbound ocean cargo services. The company also reported advancements in other areas of its operations. MLL saw improvements in its mobility services, last-mile delivery solutions, and auto outbound logistics business, which operates under the brand 2x2. Swaminathan emphasised that these divisions continued on their improvement trajectory and delivered strong performances during the quarter. A notable milestone for MLL was the expansion of its warehouse space under management in the third-party logistics business, which now exceeds 20 million square feet. This substantial increase in managed warehouse space underscores the company's growing capabilities in providing comprehensive logistics solutions and its ability to meet the diverse needs of its clients across various industries. While acknowledging the positive developments, Swaminathan also addressed the challenges faced by the company during the quarter. He explained that earnings were impacted by extended startup costs, along with higher expenses related to manpower and warehouse leasing. The express business, in particular, felt the effects of lower volumes, although this was partially offset by the company's cost optimisation initiatives. Looking ahead, Swaminathan expressed optimism about MLL's future performance. He anticipates a strong improvement in overall operating performance in the latter part of the year, suggesting that the company has strategies in place to address current challenges and capitalise on emerging opportunities in the logistics sector. In conclusion, while Mahindra Logistics Ltd faced some headwinds in terms of profitability during the first quarter of FY25, the company demonstrated resilience through revenue growth and improvements across various business segments. The management's focus on cost optimisation, coupled with strategic expansions and improvements in key areas, positions MLL to potentially overcome current challenges and drive growth in the coming quarters. The logistics sector continues to be a critical component of India's economic infrastructure, and MLL's performance will be closely watched as an indicator of broader trends in the industry.

Mahindra Logistics reports 55 per cent decline in Q1 profit to INR 10.15 crore

The United States-based semiconductor manufacturer onsemi has entered into a significant multi-year agreement with Volkswagen Group, positioning itself as the primary supplier for a comprehensive power box solution in Volkswagen's next-generation traction inverter. This innovative technology will be integrated into Volkswagen's Scalable Systems Platform (SSP), marking a crucial step forward in electric vehicle technology.

The power box solution leverages advanced silicon carbide-based technologies, offering a versatile and scalable module that can accommodate various power levels. This adaptability makes it suitable for implementation across Volkswagen's entire range of vehicle categories, from compact cars to larger models. The partnership between Onsemi and Volkswagen Group is driven by multiple objectives, including enhancing overall efficiency and performance of electric vehicles while simultaneously working towards reducing production costs.

At the core of this power box solution are onsemi's EliteSiC M3e MOSFETs, which enable the module to handle increased power loads within a compact form factor. This design significantly reduces energy losses during operation, contributing to improved overall vehicle efficiency. The power box incorporates three integrated half-bridge modules mounted on a specialized cooling channel. This configuration ensures effective heat management, which is crucial for maintaining optimal performance, controlling temperature, and maximizing efficiency. The cumulative effect of these improvements translates to extended range capabilities for electric vehicles, allowing them to travel further on a single charge.

Hassane El-Khoury, the president and CEO of onsemi, emphasised the comprehensive nature of their offering. He stated, "By offering a complete power system solution that encompasses the entire power sub-assembly, we provide Volkswagen Group with a single, simplified modular and scalable platform that maximizes efficiency and performance for their vehicle lineup." El-Khoury further explained that this innovative approach allows for customisation of power requirements and the addition of features for different vehicles without compromising performance, all while achieving cost reductions.

The collaboration has garnered praise from Volkswagen Group executives. Dirk Große-Loheide, who serves as a Member of the Extended Executive Committee Group Procurement and Member of the Board Volkswagen Brand for "Procurement," expressed enthusiasm about the partnership. He highlighted onsemi's deeply verticalized supply chain as a key factor in their selection as a strategic supplier for the power box of the traction inverter in the first tranche of the SSP platform.

Till von Bothmer, Senior Vice President VW Group Procurement for Powertrain, provided additional insights into the strategic aspects of the partnership. He emphasised Onsemi's resilient supply concept, which features regional silicon carbide fabrication facilities across Asia, Europe, and the United States. This global manufacturing footprint enhances supply chain stability and reduces potential disruptions. Von Bothmer also noted Onsemi's commitment to continuously providing the latest generation of silicon carbide technology, ensuring long-term competitiveness for Volkswagen's electric vehicle lineup.

In a move that further solidifies the partnership and strengthens the supply chain, Onsemi has announced plans to invest in expanding its silicon carbide manufacturing capabilities in the Czech Republic. This investment will result in the creation of an end-to-end production facility in Europe dedicated to the traction inverter power system. The establishment of this facility will bring significant benefits to Volkswagen Group's supply chain and logistics operations.

The proximity of Onsemi's European production facility to Volkswagen's manufacturing centers will facilitate faster integration of the power box solution into Volkswagen's production process. This geographical advantage is expected to enhance efficiency, reduce transportation costs, and minimize potential supply chain disruptions. The localised production capability also aligns with broader industry trends towards regional manufacturing and supply chain resilience.

This comprehensive agreement between Onsemi and Volkswagen Group represents a significant development in the electric vehicle industry. It showcases the importance of partnerships between semiconductor manufacturers and automotive companies in driving innovation and improving the performance of electric vehicles. As the automotive industry continues its transition towards electrification, collaborations like this will play a crucial role in shaping the future of transportation technology.

The United States-based semiconductor manufacturer onsemi has entered into a significant multi-year agreement with Volkswagen Group, positioning itself as the primary supplier for a comprehensive power box solution in Volkswagen's next-generation traction inverter.

The United States-based semiconductor manufacturer onsemi has entered into a significant multi-year agreement with Volkswagen Group, positioning itself as the primary supplier for a comprehensive power box solution in Volkswagen's next-generation traction inverter. This innovative technology will be integrated into Volkswagen's Scalable Systems Platform (SSP), marking a crucial step forward in electric vehicle technology. The power box solution leverages advanced silicon carbide-based technologies, offering a versatile and scalable module that can accommodate various power levels. This adaptability makes it suitable for implementation across Volkswagen's entire range of vehicle categories, from compact cars to larger models. The partnership between Onsemi and Volkswagen Group is driven by multiple objectives, including enhancing overall efficiency and performance of electric vehicles while simultaneously working towards reducing production costs. At the core of this power box solution are onsemi's EliteSiC M3e MOSFETs, which enable the module to handle increased power loads within a compact form factor. This design significantly reduces energy losses during operation, contributing to improved overall vehicle efficiency. The power box incorporates three integrated half-bridge modules mounted on a specialized cooling channel. This configuration ensures effective heat management, which is crucial for maintaining optimal performance, controlling temperature, and maximizing efficiency. The cumulative effect of these improvements translates to extended range capabilities for electric vehicles, allowing them to travel further on a single charge. Hassane El-Khoury, the president and CEO of onsemi, emphasised the comprehensive nature of their offering. He stated, "By offering a complete power system solution that encompasses the entire power sub-assembly, we provide Volkswagen Group with a single, simplified modular and scalable platform that maximizes efficiency and performance for their vehicle lineup." El-Khoury further explained that this innovative approach allows for customisation of power requirements and the addition of features for different vehicles without compromising performance, all while achieving cost reductions. The collaboration has garnered praise from Volkswagen Group executives. Dirk Große-Loheide, who serves as a Member of the Extended Executive Committee Group Procurement and Member of the Board Volkswagen Brand for "Procurement," expressed enthusiasm about the partnership. He highlighted onsemi's deeply verticalized supply chain as a key factor in their selection as a strategic supplier for the power box of the traction inverter in the first tranche of the SSP platform. Till von Bothmer, Senior Vice President VW Group Procurement for Powertrain, provided additional insights into the strategic aspects of the partnership. He emphasised Onsemi's resilient supply concept, which features regional silicon carbide fabrication facilities across Asia, Europe, and the United States. This global manufacturing footprint enhances supply chain stability and reduces potential disruptions. Von Bothmer also noted Onsemi's commitment to continuously providing the latest generation of silicon carbide technology, ensuring long-term competitiveness for Volkswagen's electric vehicle lineup. In a move that further solidifies the partnership and strengthens the supply chain, Onsemi has announced plans to invest in expanding its silicon carbide manufacturing capabilities in the Czech Republic. This investment will result in the creation of an end-to-end production facility in Europe dedicated to the traction inverter power system. The establishment of this facility will bring significant benefits to Volkswagen Group's supply chain and logistics operations. The proximity of Onsemi's European production facility to Volkswagen's manufacturing centers will facilitate faster integration of the power box solution into Volkswagen's production process. This geographical advantage is expected to enhance efficiency, reduce transportation costs, and minimize potential supply chain disruptions. The localised production capability also aligns with broader industry trends towards regional manufacturing and supply chain resilience. This comprehensive agreement between Onsemi and Volkswagen Group represents a significant development in the electric vehicle industry. It showcases the importance of partnerships between semiconductor manufacturers and automotive companies in driving innovation and improving the performance of electric vehicles. As the automotive industry continues its transition towards electrification, collaborations like this will play a crucial role in shaping the future of transportation technology.

Onsemi ties up with Volkswagen Group for power box solution in next-gen traction inverter

Hero MotoCorp, India's leading two-wheeler manufacturer, is gearing up to expand its footprint in the electric vehicle (EV) market. CEO Niranjan Gupta has announced plans to introduce more affordable electric models during the current fiscal year, with an eye on both domestic and international markets.

In the company's Annual Report for 2023-24, Gupta outlined an ambitious growth strategy for Hero MotoCorp's EV business. The company aims to build a diverse and powerful EV product portfolio, expanding beyond its current offering, the VIDA V1 Pro. New products in the mid-range and affordable segments are slated for launch this fiscal year, potentially broadening the company's appeal beyond its current VIDA electric scooter range, which is priced between INR 1-1.5 lakh (including state subsidies).

Executive Chairman Pawan Munjal highlighted the company's progress in developing charging infrastructure. In partnership with Ather Energy, VIDA has established what is claimed to be India's largest public charging network for two-wheeler EVs. Munjal also mentioned a collaboration with Zero Motorcycle to develop new EV motorcycles targeting a different customer segment.

Hero MotoCorp has significantly expanded the presence of its VIDA electric scooter from just three cities to over 100. The company is actively innovating at its R&amp;D centres in Jaipur and Germany to create a competitive product lineup across all segments.

Beyond EVs, Hero MotoCorp plans to introduce more premium products and grow its international, accessories, and merchandise businesses. Gupta emphasized the company's intention to scale up global operations, focusing on the top ten markets worldwide.

The company's strategy revolves around four key principles: speed, scale, synergy, and simplification. Hero MotoCorp boasts significant advantages in scale, with 116 million customers, over 7,500 distribution points, a supply chain capacity of 10 million units, a presence in about 50 global markets, and a workforce exceeding 25,000 employees.

To keep pace with rapidly evolving global and consumer trends, Hero MotoCorp has accelerated its product development processes and upgraded its sales network. The company is focusing on reducing time-to-market for new products and enhancing decision-making speed through decentralisation.

As Hero MotoCorp navigates the transition to electric mobility, it remains committed to innovation and strategic scaling, both in India and internationally. The company aims to leverage its existing strengths while adapting to new market dynamics, positioning itself to maintain its leadership in the evolving two-wheeler industry. &nbsp;

Hero MotoCorp, India's leading two-wheeler manufacturer, is gearing up to expand its footprint in the electric vehicle (EV) market. CEO Niranjan Gupta has announced plans to introduce more affordable electric models during the current fiscal year, with an eye on both domestic and international markets.

Hero MotoCorp, India's leading two-wheeler manufacturer, is gearing up to expand its footprint in the electric vehicle (EV) market. CEO Niranjan Gupta has announced plans to introduce more affordable electric models during the current fiscal year, with an eye on both domestic and international markets. In the company's Annual Report for 2023-24, Gupta outlined an ambitious growth strategy for Hero MotoCorp's EV business. The company aims to build a diverse and powerful EV product portfolio, expanding beyond its current offering, the VIDA V1 Pro. New products in the mid-range and affordable segments are slated for launch this fiscal year, potentially broadening the company's appeal beyond its current VIDA electric scooter range, which is priced between INR 1-1.5 lakh (including state subsidies). Executive Chairman Pawan Munjal highlighted the company's progress in developing charging infrastructure. In partnership with Ather Energy, VIDA has established what is claimed to be India's largest public charging network for two-wheeler EVs. Munjal also mentioned a collaboration with Zero Motorcycle to develop new EV motorcycles targeting a different customer segment. Hero MotoCorp has significantly expanded the presence of its VIDA electric scooter from just three cities to over 100. The company is actively innovating at its R&D centres in Jaipur and Germany to create a competitive product lineup across all segments. Beyond EVs, Hero MotoCorp plans to introduce more premium products and grow its international, accessories, and merchandise businesses. Gupta emphasized the company's intention to scale up global operations, focusing on the top ten markets worldwide. The company's strategy revolves around four key principles: speed, scale, synergy, and simplification. Hero MotoCorp boasts significant advantages in scale, with 116 million customers, over 7,500 distribution points, a supply chain capacity of 10 million units, a presence in about 50 global markets, and a workforce exceeding 25,000 employees. To keep pace with rapidly evolving global and consumer trends, Hero MotoCorp has accelerated its product development processes and upgraded its sales network. The company is focusing on reducing time-to-market for new products and enhancing decision-making speed through decentralisation. As Hero MotoCorp navigates the transition to electric mobility, it remains committed to innovation and strategic scaling, both in India and internationally. The company aims to leverage its existing strengths while adapting to new market dynamics, positioning itself to maintain its leadership in the evolving two-wheeler industry.

Hero MotoCorp plans to expand presence in electric two-wheeler market

The automotive industry is witnessing intense competition among manufacturers, who are offering various incentives and discounts to boost their sales figures and secure positions for their models in the top ten bestsellers list. According to data from the Society of Indian Automobile Manufacturers (SIAM), the passenger vehicle industry experienced a modest growth of 3 per cent&nbsp;in June 2024, with total sales reaching 3.7 lakh units. The top-selling models during this period included the Tata Punch, Maruti Swift, Hyundai Creta, and Maruti Ertiga.

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Tata Punch has reclaimed its position as the top-selling car model, with 18,238 units sold in June 2024. This achievement marks a significant shift from May 2024, when the Maruti Swift held the dominant position. The Tata Punch's consistent presence in the list of best-selling vehicles can be attributed to its competitive pricing, advanced features, and impressive Bharat NCAP 5-star safety rating.

&nbsp;

Maruti Suzuki continues to maintain its stronghold in India's automotive market, which ranks as the third-largest globally. The company secured six spots in the top 10 best-selling car model list for June 2024. The Maruti Swift, despite relinquishing its top position in May, still managed to secure the second spot with 16,422 units sold in June. However, this represents a 16 per cent&nbsp;month-on-month decline, according to data from autopunditz.

&nbsp;

Hyundai's Creta closely followed in third place, with sales of 16,293 units in June, showing a 12 per cent&nbsp;month-on-month growth. This performance demonstrates the ongoing popularity of Hyundai's compact SUV in the Indian market.

&nbsp;

Maruti Suzuki's dominance is further evident as it claimed the next five positions in the top 10 list. The Ertiga secured the fourth spot with sales of 15,902 units, marking a 15 per cent&nbsp;month-on-month increase. The Baleno and the new WagonR occupied the fifth and sixth positions with 14,895 and 13,790 units sold, respectively. The Dzire and Vitara Brezza rounded out Maruti's presence in the list, securing the seventh and eighth positions with sales of 13,421 and 13,172 units, respectively.

&nbsp;

Mahindra managed to break into the top 10 list with its Scorpio model, securing the ninth position despite an 11 per cent&nbsp;month-on-month drop in sales. The Scorpio sold 12,307 units in June, showcasing the enduring appeal of Mahindra's rugged SUV offering.

&nbsp;

Tata Motors claimed the final spot in the top 10 list with its Nexon model, selling 12,066 units in June. This performance underscores Tata's growing presence in the competitive Indian automotive market.

&nbsp;

The sales figures for June 2024 reflect the dynamic nature of the Indian automotive market, with manufacturers constantly vying for consumer attention through a combination of attractive pricing, advanced features, and strategic marketing efforts. The continued dominance of Maruti Suzuki, coupled with strong performances from Tata, Hyundai, and Mahindra, illustrates the competitive landscape of the Indian car market and the diverse preferences of Indian consumers.

&nbsp;

As the industry continues to evolve, factors such as fuel efficiency, safety features, and technological advancements are likely to play increasingly important roles in shaping consumer choices and sales patterns in the coming months.

The automotive industry is witnessing intense competition among manufacturers, who are offering various incentives and discounts to boost their sales figures and secure positions for their models in the top ten bestsellers list.

The automotive industry is witnessing intense competition among manufacturers, who are offering various incentives and discounts to boost their sales figures and secure positions for their models in the top ten bestsellers list. According to data from the Society of Indian Automobile Manufacturers (SIAM), the passenger vehicle industry experienced a modest growth of 3 per cent in June 2024, with total sales reaching 3.7 lakh units. The top-selling models during this period included the Tata Punch, Maruti Swift, Hyundai Creta, and Maruti Ertiga. Tata Punch has reclaimed its position as the top-selling car model, with 18,238 units sold in June 2024. This achievement marks a significant shift from May 2024, when the Maruti Swift held the dominant position. The Tata Punch's consistent presence in the list of best-selling vehicles can be attributed to its competitive pricing, advanced features, and impressive Bharat NCAP 5-star safety rating. Maruti Suzuki continues to maintain its stronghold in India's automotive market, which ranks as the third-largest globally. The company secured six spots in the top 10 best-selling car model list for June 2024. The Maruti Swift, despite relinquishing its top position in May, still managed to secure the second spot with 16,422 units sold in June. However, this represents a 16 per cent month-on-month decline, according to data from autopunditz. Hyundai's Creta closely followed in third place, with sales of 16,293 units in June, showing a 12 per cent month-on-month growth. This performance demonstrates the ongoing popularity of Hyundai's compact SUV in the Indian market. Maruti Suzuki's dominance is further evident as it claimed the next five positions in the top 10 list. The Ertiga secured the fourth spot with sales of 15,902 units, marking a 15 per cent month-on-month increase. The Baleno and the new WagonR occupied the fifth and sixth positions with 14,895 and 13,790 units sold, respectively. The Dzire and Vitara Brezza rounded out Maruti's presence in the list, securing the seventh and eighth positions with sales of 13,421 and 13,172 units, respectively. Mahindra managed to break into the top 10 list with its Scorpio model, securing the ninth position despite an 11 per cent month-on-month drop in sales. The Scorpio sold 12,307 units in June, showcasing the enduring appeal of Mahindra's rugged SUV offering. Tata Motors claimed the final spot in the top 10 list with its Nexon model, selling 12,066 units in June. This performance underscores Tata's growing presence in the competitive Indian automotive market. The sales figures for June 2024 reflect the dynamic nature of the Indian automotive market, with manufacturers constantly vying for consumer attention through a combination of attractive pricing, advanced features, and strategic marketing efforts. The continued dominance of Maruti Suzuki, coupled with strong performances from Tata, Hyundai, and Mahindra, illustrates the competitive landscape of the Indian car market and the diverse preferences of Indian consumers. As the industry continues to evolve, factors such as fuel efficiency, safety features, and technological advancements are likely to play increasingly important roles in shaping consumer choices and sales patterns in the coming months.

Tata Punch surpasses Maruti Swift as top-selling car model in June 2024

Author

Zee News Rajasthan

Editor

Aishwarya Singh

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