The first plant is under construction with annual capacity of 1 million units. The company will invest Rs. 2,500 crore to build the second plant in 600 acres of land.
In November's India's overall auto retail sales stood at 18,17,600 units, a marginal 2.7 per cent YoY decline. However, the passenger vehicle segment saw 2,40,234 new registrations, witnessing a decline of nearly 20 per cent, as chip shortage continues to plague the industry.
India's second largest carmaker, Hyundai Motor will invest approximately Rs. 4000 crore to bring us 6 EVs (electric vehicles) across different segments and price points. This includes localising global E-GMP electric platform for India. First new EV in 2022.
The company has cited continued rise in the cost of commodities & ocean freight costs as the reason that has necessitated this price increase of the vehicle.
Delhi's transport department has floated tenders for the construction of new automated test tracks at eight new locations across the city, The test tracks will come up at eight different educational institutions.
Tata Motors will increase prices of its entire commercial vehicle range from January 1, 2022. The company has said that the price hike will be in the range of 2.5 per cent, and the revised prices will come into effect across all segments, basis individual models and variants of the vehicle.
Under the Phase II of the FAME India scheme, the government has supported about 1.65 lakh electric vehicles, by way of Demand Incentive amounting to about Rs. 564.00 crore. The ministry says that it has also sanctioned 2,877 charging stations, amounting to Rs. 500 crore.
