London-based Ineos Automotive has launched its first limited edition vehicle, the Grenadier 1924, to celebrate the 100 years of existence of the iconic clothing brand Belstaff. Founded in Stoke-on-Trent in 1924, Belstaff is a British heritage apparel brand known for making waterproof outerwear, riding, and racing gear. Sir Jim Ratcliffe, the CEO of British chemical conglomerate Ineos, purchased the brand and saved it from the brink of collapse in 2017.

The&nbsp;‘1924’&nbsp;in the&nbsp;off-roader's&nbsp;name is not only a reference to&nbsp;Belstaff’s&nbsp;year of inception but also to the total production run of the car. Only 1,924 units of the limited edition Grenadier will&nbsp;be produced, and each one will carry its production serial number imprinted on distinctive Belstaff centenary badging.

Since its launch in 2022, the Grenadier has partnered with the apparel brand to offer two feature packages based on iconic Belstaff jackets, the Trialmaster and Fieldmaster. Based on the flagship Fieldmaster package, the Grenadier 1924 features a dark green finish on the dashboard, centre console, overhead console, switchgear and door cards, as well as a black saddle leather trim on the steering wheel, handbrake and passenger grab handle, complemented by dark grey headlining.

The limited edition off-roader is immediately identifiable by its Magic Mushroom and Inky Black exterior colour theme, 17-inch diamond-cut two-tone alloy wheels and a de-chromed black grille trim with front and rear skid plates in dark grey.

Also Read: <a href="https://www.wionews.com/sports/british-billionaire-jim-ratcliffe-to-buy-25-stake-in-manchester-united-pledges-to-invest-300-million-673188">British billionaire Jim Ratcliffe to buy 25% stake in Manchester United, pledges to invest $300 million</a>

Sharing her thoughts on the Grenadier 1924, Lynn Calder, CEO of Ineos Automotive, said,&nbsp;“Style that lasts a century deserves to&nbsp;be celebrated&nbsp;and&nbsp;the Grenadier 1924 is both great-looking and a seriously assured drive. Belstaff has&nbsp;been trusted&nbsp;by generations of bikers, sportspeople and trendsetters, so we know&nbsp;we're&nbsp;in good company.”

The Grenadier 1924 will&nbsp;make its public debut&nbsp;at a centenary event from 24th-28th May in Stoke-on-Trent, England. Order books for the limited-run SUV will open on 26th June 2024.

London-based Ineos Automotive has launched its first limited edition vehicle, the Grenadier 1924, to celebrate the 100 years of existence of the iconic clothing brand Belstaff.

London-based Ineos Automotive has launched its first limited edition vehicle, the Grenadier 1924, to celebrate the 100 years of existence of the iconic clothing brand Belstaff. Founded in Stoke-on-Trent in 1924, Belstaff is a British heritage apparel brand known for making waterproof outerwear, riding, and racing gear. Sir Jim Ratcliffe, the CEO of British chemical conglomerate Ineos, purchased the brand and saved it from the brink of collapse in 2017. The ‘1924’ in the off-roader's name is not only a reference to Belstaff’s year of inception but also to the total production run of the car. Only 1,924 units of the limited edition Grenadier will be produced, and each one will carry its production serial number imprinted on distinctive Belstaff centenary badging. Since its launch in 2022, the Grenadier has partnered with the apparel brand to offer two feature packages based on iconic Belstaff jackets, the Trialmaster and Fieldmaster. Based on the flagship Fieldmaster package, the Grenadier 1924 features a dark green finish on the dashboard, centre console, overhead console, switchgear and door cards, as well as a black saddle leather trim on the steering wheel, handbrake and passenger grab handle, complemented by dark grey headlining. The limited edition off-roader is immediately identifiable by its Magic Mushroom and Inky Black exterior colour theme, 17-inch diamond-cut two-tone alloy wheels and a de-chromed black grille trim with front and rear skid plates in dark grey. Also Read: British billionaire Jim Ratcliffe to buy 25% stake in Manchester United, pledges to invest $300 million Sharing her thoughts on the Grenadier 1924, Lynn Calder, CEO of Ineos Automotive, said, “Style that lasts a century deserves to be celebrated and the Grenadier 1924 is both great-looking and a seriously assured drive. Belstaff has been trusted by generations of bikers, sportspeople and trendsetters, so we know we're in good company.” The Grenadier 1924 will make its public debut at a centenary event from 24th-28th May in Stoke-on-Trent, England. Order books for the limited-run SUV will open on 26th June 2024.

Limited edition Ineos Grenadier 1924 celebrates Belstaff’s centenary

India's two-wheeler market is undergoing a significant transformation led by Ola Electric, often dubbed 'India's Tesla.' In just two years, the company has skyrocketed to 338,000 e-scooter sales, vowing to accelerate India's shift to a cleaner, electric future. However, Ola's rapid success has challenges, particularly in its service network.

An electric revolution

Bhavish Aggarwal, the visionary behind Ola Electric, envisions replacing internal combustion engines (ICE) in India, where two-wheelers dominate the streets. Ola, valued at $5.4 billion, plans to quadruple its annual production capacity to 2 million e-scooters by the new year.

Service network strain

Despite Ola's sales surge, the company's network of over 400 service hubs is showing signs of strain. Reuters investigations reveal backlogs, insufficient spare parts, and repair waiting times ranging from three days to two weeks, particularly in major metropolitan areas like Mumbai, Chennai, and Bengaluru.

Ola, faced with an unprecedented surge in demand, grapples with service capacity issues. Aggarwal acknowledges the challenges, citing aggressive efforts to expand the service network by adding 100 new centres and hiring more technicians. However, reports suggest that the scale and quality of the service operations may differ from the company's claims.

Industry dynamics &amp; Ola's goals

Reuters quoted Ravi Bhatia of JATO Dynamics, who emphasised the critical role of a robust service network in India, the world's largest two-wheeler market. With Indians adapting to tech-packed EVs navigating challenging roads, Ola's service infrastructure becomes pivotal to ensure customer satisfaction.

Aggarwal's ambitious goal is to make all new scooters and motorbikes in India electric by the end of 2025, surpassing the government's 2030 target of 70% EV adoption in new two-wheeler sales. Ola has positioned itself as the leader in India's two-wheeler EV market, claiming a third of sales by volume.

Customer experience challenges

Service issues reported by customers include battery drainage, software glitches, and damaged wires. Some attribute the surge in service demands to the inexperience of Indian riders with e-scooters, leading to damages, especially during challenging weather conditions like the monsoon season.

A growing number of customers express frustration online about repair times and difficulties in securing servicing slots. Aggarwal dismisses much of the online criticism as 'mudslinging' by rivals, emphasising that the business has seen unprecedented success, with e-scooters reportedly selling every 10 seconds during India's festive season.

Bottomline

While Ola Electric celebrates its phenomenal success in India's evolving EV landscape, the service challenges highlight the complexities of scaling up in a demanding market. As Ola gears up for a $700 million IPO, overcoming these hurdles in service infrastructure becomes paramount for sustaining its leadership in India's electric revolution.

India's two-wheeler market is undergoing a significant transformation led by Ola Electric, often dubbed 'India's Tesla.' In just two years, the company has skyrocketed to 338,000 e-scooter sales, vowing to accelerate India's shift to a cleaner, electric future.

India's two-wheeler market is undergoing a significant transformation led by Ola Electric, often dubbed 'India's Tesla.' In just two years, the company has skyrocketed to 338,000 e-scooter sales, vowing to accelerate India's shift to a cleaner, electric future. However, Ola's rapid success has challenges, particularly in its service network. An electric revolution Bhavish Aggarwal, the visionary behind Ola Electric, envisions replacing internal combustion engines (ICE) in India, where two-wheelers dominate the streets. Ola, valued at $5.4 billion, plans to quadruple its annual production capacity to 2 million e-scooters by the new year. Service network strain Despite Ola's sales surge, the company's network of over 400 service hubs is showing signs of strain. Reuters investigations reveal backlogs, insufficient spare parts, and repair waiting times ranging from three days to two weeks, particularly in major metropolitan areas like Mumbai, Chennai, and Bengaluru. Ola, faced with an unprecedented surge in demand, grapples with service capacity issues. Aggarwal acknowledges the challenges, citing aggressive efforts to expand the service network by adding 100 new centres and hiring more technicians. However, reports suggest that the scale and quality of the service operations may differ from the company's claims. Industry dynamics & Ola's goals Reuters quoted Ravi Bhatia of JATO Dynamics, who emphasised the critical role of a robust service network in India, the world's largest two-wheeler market. With Indians adapting to tech-packed EVs navigating challenging roads, Ola's service infrastructure becomes pivotal to ensure customer satisfaction. Aggarwal's ambitious goal is to make all new scooters and motorbikes in India electric by the end of 2025, surpassing the government's 2030 target of 70% EV adoption in new two-wheeler sales. Ola has positioned itself as the leader in India's two-wheeler EV market, claiming a third of sales by volume. Customer experience challenges Service issues reported by customers include battery drainage, software glitches, and damaged wires. Some attribute the surge in service demands to the inexperience of Indian riders with e-scooters, leading to damages, especially during challenging weather conditions like the monsoon season. A growing number of customers express frustration online about repair times and difficulties in securing servicing slots. Aggarwal dismisses much of the online criticism as 'mudslinging' by rivals, emphasising that the business has seen unprecedented success, with e-scooters reportedly selling every 10 seconds during India's festive season. Bottomline While Ola Electric celebrates its phenomenal success in India's evolving EV landscape, the service challenges highlight the complexities of scaling up in a demanding market. As Ola gears up for a $700 million IPO, overcoming these hurdles in service infrastructure becomes paramount for sustaining its leadership in India's electric revolution.

Ola Electric's promise and peril: Scaling up sales amid growing service concerns

Stellantis, the world's third-largest carmaker by sales, had an impressive performance in the first half of 2023, with a remarkable 12 percent year-on-year surge in net revenues and an astounding 37 percent spike in net profit.

In their recent report on Wednesday, the company revealed that their January-June adjusted profits before interest and tax (EBIT) rose by 11 percent to 14.1 billion euros ($15.6 billion), surpassing the analysts' forecast of 12.1 billion euros, as per Reuters&nbsp;poll.

During the second quarter alone, Stellantis achieved a remarkable milestone, generating a whopping $109 billion&nbsp;in net revenues, with their net profit reaching an impressive $12 billion, showcasing the company's robust financial position and market prowess.

The surge in net revenues and profits can be attributed to a substantial nine percent year-on-year increase in consolidated shipments, totaling 3.202 million units, further solidifying its position in the automotive industry.

Pricing power as key driver of earnings and green mobility

Natalie Knight, the newly appointed CFO of the group, emphasised that pricing power remains the primary driver of the group's earnings, encompassing Fiat, Peugeot, Alfa Romeo, Ram, and Jeep. She further elaborated that the company successfully implemented several price hikes and adeptly maintained them while also strategically assessing the need for additional pricing adjustments in the first half.

Stellantis facilitated this impressive boost in earnings by reducing supply constraints and returning to normal inventory levels, enabling the company to meet the demands of a growing market effectively.

However, its achievements extend beyond increased sales; the company is also at the forefront of driving sustainable practices. Their commitment to green mobility has yielded significant results, with sales of battery electric vehicles (BEV) and low-emission vehicles (LEV) surging by 24 percent and 28 percent year-on-year, respectively. Stellantis sold an impressive 169,000 battery electric vehicles and 315,000 low-emission vehicles, cementing their position as a leading force in eco-friendly transportation.

Profit margin concerns&nbsp;

Stellantis is facing concerns regarding its profit margin, particularly after Tesla of the United States initiated a wave of price discounts in China in January, putting pressure on automakers and suppliers to cut costs. The company's adjusted EBIT margin declined to 14.4 percent&nbsp;from 14.5 percent&nbsp;a year ago as the pricing power, boosted by a considerable inflationary environment in the previous year, no longer persisted, according to Chief Executive Carlos Tavares.

Reuters quoted Taveres as saying, "If the market is more competitive in terms of pricing, we need to work harder on cost reduction to make sure that we give back to the market the breathing space it needs while protecting our per unit margins."&nbsp;

However, he highlighted that Stellantis' margin performance still outperformed Tesla's and General Motors&nbsp;margins, which stood at 10.5 percent&nbsp;and 8.3 percent, respectively.

Furthermore, the company's optimism about its future prospects is clearly demonstrated through its share buyback program. The company has already repurchased shares worth 774 million dollars and has set a target to complete a buyback of 1.6 billion dollars by the end of the year. This move highlights Stellantis' belief in its own growth and reinforces its commitment to enhancing shareholder value.

(With inputs from Reuters)

Stellantis, the world's third-largest carmaker by sales, had an impressive performance in the first half of 2023, with a remarkable 12 percent year-on-year surge in net revenues and an astounding 37 percent spike in net profit.

Stellantis, the world's third-largest carmaker by sales, had an impressive performance in the first half of 2023, with a remarkable 12 percent year-on-year surge in net revenues and an astounding 37 percent spike in net profit. In their recent report on Wednesday, the company revealed that their January-June adjusted profits before interest and tax (EBIT) rose by 11 percent to 14.1 billion euros ($15.6 billion), surpassing the analysts' forecast of 12.1 billion euros, as per Reuters poll. During the second quarter alone, Stellantis achieved a remarkable milestone, generating a whopping $109 billion in net revenues, with their net profit reaching an impressive $12 billion, showcasing the company's robust financial position and market prowess. The surge in net revenues and profits can be attributed to a substantial nine percent year-on-year increase in consolidated shipments, totaling 3.202 million units, further solidifying its position in the automotive industry. Pricing power as key driver of earnings and green mobility Natalie Knight, the newly appointed CFO of the group, emphasised that pricing power remains the primary driver of the group's earnings, encompassing Fiat, Peugeot, Alfa Romeo, Ram, and Jeep. She further elaborated that the company successfully implemented several price hikes and adeptly maintained them while also strategically assessing the need for additional pricing adjustments in the first half. Stellantis facilitated this impressive boost in earnings by reducing supply constraints and returning to normal inventory levels, enabling the company to meet the demands of a growing market effectively. However, its achievements extend beyond increased sales; the company is also at the forefront of driving sustainable practices. Their commitment to green mobility has yielded significant results, with sales of battery electric vehicles (BEV) and low-emission vehicles (LEV) surging by 24 percent and 28 percent year-on-year, respectively. Stellantis sold an impressive 169,000 battery electric vehicles and 315,000 low-emission vehicles, cementing their position as a leading force in eco-friendly transportation. Profit margin concerns Stellantis is facing concerns regarding its profit margin, particularly after Tesla of the United States initiated a wave of price discounts in China in January, putting pressure on automakers and suppliers to cut costs. The company's adjusted EBIT margin declined to 14.4 percent from 14.5 percent a year ago as the pricing power, boosted by a considerable inflationary environment in the previous year, no longer persisted, according to Chief Executive Carlos Tavares. Reuters quoted Taveres as saying, "If the market is more competitive in terms of pricing, we need to work harder on cost reduction to make sure that we give back to the market the breathing space it needs while protecting our per unit margins." However, he highlighted that Stellantis' margin performance still outperformed Tesla's and General Motors margins, which stood at 10.5 percent and 8.3 percent, respectively. Furthermore, the company's optimism about its future prospects is clearly demonstrated through its share buyback program. The company has already repurchased shares worth 774 million dollars and has set a target to complete a buyback of 1.6 billion dollars by the end of the year. This move highlights Stellantis' belief in its own growth and reinforces its commitment to enhancing shareholder value. (With inputs from Reuters)

Stellantis surpasses forecasts, achieves remarkable 37% spike in net profit

The automotive sector across the world works synonymously with technological innovations. Here is an 18-wheel all-terrain vehicle which Glides over rocks it slides over trunks.

Innovative 18-wheel all-terrain vehicle

The American automotive giant Ford has announced it's return to Formula One in 2026 as it joins forces with world champions Red Bull. Watch further to know more.

U.S. Auto Gaint Ford set to make a F1 return

automotive

Automotive, News on Automotive, stories on Automotive, articles on Automotive, Automotive stories at Wion, Automotive news, Automotive latest news