Indiana-based Cummins, which spends $1 billion in its efforts to reach net-zero emissions by 2050, says that India will be one of the first markets to receive the hydrogen engines developed by it.
Between the July and September quarter this year, the total production of passenger vehicles, commercial vehicles, three-wheelers, two-wheelers, and four-wheelers stood at 7,353,039 units.
It’s the third hike by Tata Motors this year after it raised the prices of its passenger vehicles by 0.9% in January and the commercial range by 2.5% in March
The increase in the prices of commodities such as steel, aluminium and other precious metals led to this price hike.
The auto sector is jubilant over the government's new scrappage policy, which was announced by Nirmala Sitharaman during the presentation of the Budget. Some, however, say more work needs to be done.
Nishant Arya, executive director, JBM Group, tells Fortune India that while Covid-19 has hit commercial vehicles, demand will pick up and there will be a shift towards cleaner engines.
The ratings agency said that the passenger vehicle segment's FY21 volumes are expected to see a drop, as it is tied to GDP and overall consumer sentiment, both of which are at historic lows.
The investment was led by Inventus Capital India, along with Blume Ventures, US-based Emergent Ventures, Singapore-based Jetty Ventures, and Udaan’s co-founder Sujeet Kumar.
Vinod Aggarwal, MD and CEO, Volvo Eicher Commercial Vehicles, speaks about its BS VI readiness, the tech advances in the commercial vehicle segment, and the slowdown crippling the auto industry.
India Ratings and Research says demand for these vehicles will take a hit in the near term.
