Tesla in talks to set up a research center in Bengaluru, India

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Tesla held initial discussions with Karnataka government officials on September 10, who are looking for a possible investment by American electric automaker in a research facility located in Bengaluru, people familiar with the matter said. A followup meeting is expected later this month, they said, in which the state officials are expected to present a detailed proposal to the […]

India-China tensions delay sale of General Motors’ plant in India

Great Wall Motor

Delays to American automaker General Motors’ sale of its Indian plant to Chinese automaker Great Wall Motor because of the tensions between India and China are likely to result in hefty unplanned costs for GM, people familiar with the matter said. The sale of the plant located in Talegaon in Maharashtra state was announced in January […]

Toyota Motors no longer planning expansion in India, due to high tax regime

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Toyota Motor won’t expand any more in India due to the country’s high tax regime, a blow for Prime Minister Narendra Modi, as India continues to attract global companies to offset the economic downfall caused by the coronavirus crisis. The government keeps taxes on cars and motorbikes high enough that companies find it hard to build […]

India reportedly urges auto companies to cut royalties to foreign parents

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India’s commerce minister has asked automakers to observe ways to decrease royalty payments to foreign parent companies for use of technology or brand names, two sources said according to Reuters, in an effort to increase local investment and decrease outflows. In India’s competitive auto market, top-selling automakers Maruti Suzuki and Hyundai Motor’s regional unit pay […]

Maruti Suzuki production declined by 97.5% in May 2020 due to COVID-19

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The government and automakers had enforced shutdowns of factories to control the spread of the coronavirus pandemic. This has led a huge impact on Indian’s largest automaker, Maruti Suzuki, who reported a decline of 97.5 percent in production at 3714 units in May 2020. The company had manufactured 151,188 units during the same period in 2019, […]

Indian automakers offer teaser loans as RBI softens stance

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Maruti Suzuki, Hyundai and Mercedes Benz are providing Indian auto buyers “teaser loans”, a move that sources stated came after softening of the central bank’s stance because of a coronavirus-induced economic slump. Although the Reserve Bank of India (RBI) never prohibited teaser loans, which provide low interest rates for a limited period before jumping, its […]

Honda temporarily stops car and two-wheeler plants in India

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Honda Cars India Limited (HCIL) will temporarily stop operations at both its manufacturing plants located in Greater Noida, Uttar Pradesh and Tapukara in Rajasthan from 23rd March till 31st March 2020 because of the spread of coronavirus, the company stated. “HCIL associates working in corporate offices, including zonal and regional locations for all functions will mainly […]