This week in Auto: Companies roll back capex cut; Nitin Gadkari talks about green push

Four new models made it to showrooms near you this week as buyer sentiments began to improve and the festive cheer filled the air. However, amidst the frenzy of new launches a department of the government is quietly working on its objective of making India world leader in green technologies, especially electric vehicles. More on that and a complete look at what made headlines in the automotive space this week.

Ather Energy raises $35mn

Hero MotoCorp-backed electric two-wheeler maker Ather Energy on November 7 said it has raised funds to the tune of $35 million in a funding round led by Flipkart co-founder Sachin Bansal’s investment of $23 million.

Besides Bansal, Hero MotoCorp has also invested $12 million as a part of the Series D round in the EV startup, according to a release.

BMW launches X3 M

German automobile giant BMW has launched the M badged X3 – a high performance SUV straight out of the company’s M division for the first time ever in India.

Based on the standard X3, the X3 M gets more aggressive styling and an engine that offers more grunt for a sportier driving experience.

Companies roll back capex cut

In light of the faster-than-expected turnaround in demand, a few automakers and parts making companies are partially reversing the cut in capital expenditure they had announced over the previous months.

TVS Motor Company, Tata Motors, Ceat Tyre and Mahindra CIE have either made a provision for an upward revision in their capital expenditure (capex) for the year or are preparing to do so. The increase in capex ranges from 20-60 percent from the reduced levels announced in the first quarter

Hyundai launches new i20

Hyundai has launched one of the best selling premium hatchbacks Elite i20 in India. The car will compete against the Maruti Suzuki Baleno and Tata Altroz.

The new Elite i20 is priced at Rs 679,900 for the base variant while the top-end variant comes priced at Rs 11,17,900. Hyundai has offered two petrol engines and one diesel engine with the i20

Star ratings for electric vehicles

Electric vehicles (EVs), batteries and charging equipment could be brought under the standardisation and labelling (S&L) programme of the government to define their efficiency using the star-rating method.

What this means for potential customers is that it will help them choose the most energy-efficient EVs. The Bureau of Energy Efficiency (BEE), a government agency under the Ministry of Power, has been tasked to form the S&L programme for the EV industry.

Royal Enfield launches Meteor 350

Royal Enfield has launched its sixth two-wheeler brand Meteor into the market. The 350cc bike replaces the Thunderbird 350, the only cruiser-themed bike in its portfolio.

The Meteor 350, which is available in three variants is priced at Rs 175,825 for the base variant. The bike features a Tipper navigation system, a first in a Royal Enfield. Powered by Google Maps and the Royal Enfield App, that connects a smartphone with the motorcycle through Bluetooth

Gadkari talks green tractors and highways, electric SUVs

Union Minister Nitin Gadkari is working on a project to convert around 50 diesel-powered tractors to bio-CNG-run tractors in his home turf of Nagpur.

“There are 50 Mahindra tractors in Nagpur which are 15 years old and we are converting them to bio-CNG. We are already running 80 percent of Nagpur buses on bio-CNG," Gadkari said in an event organised by FICCI on November 6.

Presently no tractor making company makes any tractors that are powered by fuel other than diesel. Gadkari has been the strongest voice from the government pushing the cause of alternative fuels like bio-CNG, ethanol, electric, LNG, and even hydrogen for use in powering mobility.

“I just want to stop the use of diesel completely. There are some many benefits of switching to electric for mobility purposes. I recently bought an electric SUV. My son purchased ten electric cars and has given them on rent and earns a monthly saving of Rs 20,000-30,000," added Gadkari.

Gadkari was among the first ministers of the government to announce India’s ambition of moving to 100 percent electric by 2030, taking the automobile manufacturers fraternity completely by surprise. “The industry need not unnecessarily get worried about achieving 100 percent electric mobility by 2030. There is no such plan of the government," Gadkari added.

Gadkari also spoke about plans to make several green expressways and highways. These include the Bengaluru-Chennai highway and the Delhi-Mumbai expressway. These roadways will have fast charging stations for electric vehicles besides a novel concept of running diesel hybrid trucks or buses on overhead electric wires just like electric trains.