Tag: Auto Business
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Inflection Point Ventures leads Rs 5.5 crore pre-Series A round in PumPumPum
Used car leasing platform, PumPumPum has raised Rs 5.5 crore in pre-Series A round funding led by Inflection Point Ventures in participation with Lets Venture & Agility Ventures. “It will utilize the capital for category disruption, consumer awareness, technology development, brand building, and expansion,” PumPumPum in its statement said. Speaking on the investment in PumPumPum, […]
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Hero MotoCorp total sale increased by 1.49% in February
Two-wheeler maker Hero MotoCorp has reported an increase of 1.45 percent in its total sales for February at 5,05,467 units compared to 4,98,242 units for the same month last year. In a filing with the exchange, Hero MotoCorp said, “The total sale for motorcycles was decreased by 3.25 percent at 4,63,723 units last month as […]
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Hyundai Motor reports 26% increase in February sale
Automaker Hyundai Motor India has reported an increase of 24.6 percent in its total February sale to 61,800 units. Hyundai Motor India Limited (HMIL) in its regulatory filing said, “The company has reported a 24.6 percent increase in the total sale at 61,800 units in February as against 48,910 units in the same month last […]
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Budget 2021: Reactions from Automobiles & EV industry
In a bid to boost the pandemic hit economy, through the multiple investment announcement in the financial and banking sector. Finance Minister Nirmala Sitharaman on Monday tabled the first paperless Union Budget for 2021-22 in the parliament. Here are some reactions of experts from the automobile, and electric vehicles industry: Sandeep Aggarwal, Founder & CEO […]
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Budget 2021: Expectations of the Auto sector
Before the Finance Minister Nirmala Sitharaman presents the Union Budget in the Parliament on February 1, 2021. Here’s what the Auto sector expects from Finance Minister Nirmala Sitharaman: Jeetender Sharma, Founder & Managing Director, Okinawa Autotech: “2021 can prove to be a revolutionary year for the electric vehicle (EV) industry. We have high hopes from […]
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Ola signs MoU with Tamil Nadu Govt for electric scooter factory
Leading mobility platform, Ola has signed the Memorandum of Understanding (MoU) with the Tamil Nadu government for an investment of Rs 2,400 crores to set up its first electric scooter factory in the state. In a statement issued on Monday, the Spokesperson of Ola said, “The factory will create almost 10,000 jobs and will be […]
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Ola appoints GM veteran Jose Pinheiro as Head of Global Manufacturing and Operations for Electric Business
Leading ride-hailing company Ola has announced the appointment of General Motors veteran Jose Pinheiro as its Head of Global Manufacturing and Operations for its electric business. Jose holds 45 years of leadership experience and was Vice President of Manufacturing at General Motors (GM). Will spearhead Ola’s plan to build world-class manufacturing facilities, starting with a […]
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Blu Smart raises $6.6 million from Mumbai Angels, Venture Catalyst, and others
Delhi-based e-taxi startup Blu Smart has raised $6.8 million (approx Rs 51 crore) in pre-series A round funding from Mumbai Angels and others. The new round of funding led by Mumbai Angels Networks also saw the participation of Inflection Point Ventures, Venture Catalyst, Survam Partners, Chattisgarh Investment Ltd, JITO Angel, Lets Venture, and Kaplavriksh Trust. […]
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Geely raises $836 million through shares sale
Hong Kong-based automaker Geely has raised HK$6.48 billion ($836 million) through a share sale. In a statement issued, Geely said, “The company has raised HK$6.48 billion (approximately $836 million) through the sale of 600 million primary shares at the bottom of the price range at HK$10.80 – HK$11.20 or at a 7.85% discount to the […]
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Coronavirus Update: Honda to resume its Wuhan plant operation from February 21
Honda Motor Co on said Friday it now plans to restart operations at its vehicle plant in Wuhan, China on February 21, a week later than initially planned. Japan’s third-largest automaker plans to resume output from the factory from the week of February 24. The Nikkei newspaper reported last Friday that the Japanese automaker would […]