The Adani Group has no plans to manufacture EVs, but will instead buy them and brand them under its name.

According to media reports, Gautam Adani-led Adani Group is in talks with Uber Technologies to roll out electric cars on the ride-hailing platform. 

Adani Group chairman Gautam Adani met Uber CEO Dara Khosrowshahi on February 24, 2024, to discuss a new strategic partnership between the two companies. As part of the deal, the services of Uber would be integrated into the Adani One mobile app, allowing customers to book a cab to or from the airport.

The Adani Group has no plans to manufacture EVs. Instead, the company will buy electric vehicles and brand them under its name. These vehicles will be deployed on Uber’s ride-hailing platform.

Globally, Uber is in the process of upgrading its ageing fleet with EVs as the company looks to transition into a zero-emission mobility platform before 2040. The partnership is also expected to boost the adoption of EVs in India.

Source: TOI

Mahindra and the Volkswagen Group recently signed an agreement for the sharing of key EV components.

Recently, there have been reports about the Volkswagen Group looking to dilute its stake in its wholly-owned Indian subsidiary "Skoda Auto Volkswagen India Pvt. Ltd." (SAVIPL). It is said that Mahindra and the JSW Group are keen to partner with the German carmaker.

According to the latest reports, the VW Group has already had discussions with the JSW Group. The latter recently signed an agreement with MG Motor India’s parent company SAIC.

Mahindra has reportedly expressed interest in a potential partnership as well. Reports suggest that Klaus Zellmer, CEO of Skoda Auto, met with Mahindra’s top officials this week to discuss joint projects.

Earlier this month, Mahindra and the Volkswagen Group signed an agreement for the sharing of key EV components. As part of the deal, Mahindra will source unified cells from VW’s MEB architecture for its INGLO platform.

Source: Autocar India

SAVIPL has commenced work on low-cost electric SUVs based on the MEB21G platform.

The Volkswagen Group is reportedly looking for a partner in India. The carmaker is also said to be open to diluting its stake in its wholly-owned India subsidiary, Skoda Auto Volkswagen India Pvt. Ltd. (SAVIPL)

According to media reports, Volkswagen is keen on partnering with another carmaker to share the investment required to transition from ICE to EV platforms and the risks emanating from it. VW is open to diluting its 100% stake in its Indian subsidiary provided there are strong synergies on platform sharing and parts sourcing.

There have been reports suggesting that SAVIPL has already commenced work on low-cost electric SUVs based on the MEB21G platform. The project codenamed PEAK EV will call for a minimum investment of 1 billion euros and will spawn four different SUVs before the end of the decade.

Earlier, the VW Group has had discussions with Tata Motors and China’s SAIC. The carmaker was also in talks with Mahindra to explore the possibility of sharing the MEB21G architecture. That being said, the two companies recently signed an agreement that will allow Mahindra to tap into MEB’s components bin for its INGLO electric platform.

Source: Autocar India

Rimac recently took over Bugatti and formed a new entity called, Rimac-Bugatti.

Hyundai is reportedly ending its partnership with Croatian electric supercar brand Rimac Automobili.

According to a media report, Rimac's close workings with Porsche is said to be one of the reasons for Hyundai to cut ties with the Croatian supercar brand. The South Korean car brand owns a 12% stake in Rimac ($90 million) since 2019. While Porsche has owned a 10% stake in Rimac since 2018, the company increased its share to 24% last year.

The end of the partnership between Hyundai & Rimac could also affect the projects being jointly developed. Hyundai & Rimac were said to be working on two projects: an electric sports car for its 'N' performance sub-brand and the Vision FK concept - a hydrogen-powered sports sedan. Reports now suggest that while Hyundai & Rimac will continue to develop the electric sports car, the Vision FK project has reached a dead end.

Reports also suggest that with the partnership coming to an end, Hyundai could sell off all of its 12% stake in Rimac. However, there is still no confirmation on the same.

Rimac recently took over Bugatti and formed a new entity called, Rimac-Bugatti, where it holds a 55% stake. The remaining 45% stake is held by Porsche, which also continues to have a separate 24% stake in Rimac.

Source: Automotive News

Mitsubishi is said to be in a precarious position financially and needs to find a new partner that could infuse cash into its ailing business.

Mitsubishi was said to be in talks with a Jamshedpur-based component manufacturer for a possible partnership. In what could be described as a major blow to the company's ambitions, it seems the deal has now been called off.

The news about Mitsubishi looking for a new partner in India first broke in June last year. Talks were said to be in the advanced stages and the carmaker was hoping to secure an investment of Rs. 500 crore.

According to a recent report, Mitsubishi is in a precarious position financially and needs to find a new partner that could infuse cash into its ailing business or risk closure.

In response to this report, Mitsubishi stated that the company has been working on multiple BS6 models. However, the development has been delayed due to the pandemic. The company also confirmed that its dealerships in 20 locations are providing after-sales service to customers.

Source: Express Drives

Development on the new Ford SUV will start from early 2021.

It's no secret that Ford is working on a new SUV that will share its underpinnings with the next-generation Mahindra XUV500. The project is codenamed W605 and we now know that the design of the car is almost complete. Further development on the SUV will start from early 2021.

The W605 will be based on the same platform as the XUV500, but it will have a different design. Reports suggest that it could have a shorter wheelbase and length. It will be more enthusiast-focused with better dynamics compared to the XUV500.

The W605 is likely to be powered by a 2.0-litre mStallion T-GDi turbocharged, four-cylinder petrol engine that produces 187 BHP @ 5,000 rpm and 380 Nm at 1,750-4,000 rpm. It is also expected to get a 2.0-litre diesel engine option.

Thanks to Adam for sending this information in. Heartfelt gratitude for sharing it with other enthusiasts via this Team-BHP page!

Image source

Mahindra & Hero Motocorp are rumoured to be the front-runners.

According to a media report, Harley-Davidson is looking to partner with an Indian 2-wheeler brand to manufacture mid-size motorcycles.

Harley-Davidson is said to be looking for partners with a manufacturing and distribution network to build sub-500cc bikes in India. It has also been reported that the company is keen to forge a non-equity partnership.

It is rumoured that the American bike maker could collaborate with Mahindra's Classic Legends, which also caters to a premium segment of the market with a brand like Jawa. The company also has a manufacturing facility with an established local supply chain.

Hero Motocorp is also believed to be a front-runner, as the company had earlier stated its willingness to collaborate in order to gain a foothold in the premium segment. While the brand is extremely popular in the commuter segment, it does not offer higher capacity bikes beyond 350cc.

Harley-Davidson has not commented on these reports. Neither Mahindra nor Hero Motocorp have independently confirmed the latest reports.

Source

Mahindra and Mahindra is looking for investors for its electric vehicle business - Mahindra Electric.

Pawan Goenka, MD, Mahindra and Mahindra has stated that the company is considering a joint venture as it seeks to scale up its EV business and launch several new models over the next 12 months. Talks with multiple interested parties are currently ongoing.

At present, Mahindra Electric's product portfolio consists of the e2o Plus, eVerito, eSupro, Treo and eAlfa Mini. Earlier this year, the company launched the eKUV100 which is powered by a 54 BHP electric motor and a liquid-cooled battery offering a maximum range of 150 km on a single charge. An all-electric version of the XUV300 is also scheduled to go on sale in 2021.

The company also owns the Italy-based Automobili Pininfarina which produces the Battista electric supercar.

Source

On August 4, 2020, it was widely reported in the media that Tata Motors was selling up to 49% stake in its Passenger Vehicle (PV) business. The company has now issued a formal statement regarding this and has denied all such reports and termed them as "incorrect and misleading".

Official statement:

All such published news about 'Tata Motors to sell up to 49% stake in PV Business’ and the names of potential partners/investors mentioned is incorrect and misleading.

Firstly, TML is India's foremost home grown auto company. Its products are receiving strong customer response with its best-in-class safety, stylish design and superior driveability. Over the years, initiatives taken by Tata Motors have and will continue to strengthen India and its auto sector.

In March 2020, TML had announced the intent to subsidiarise its PV business as the first step towards securing mutually beneficial strategic alliances that provide access to products, architectures, powertrains, new-age technologies and capital.

Securing a mutually beneficial alliance is a priority. However, it is not an imperative for today but an opportunity to be secured for tomorrow.

The imperative for today is to Win Sustainably by delivering market beating growth and positive free cash flows by delighting our customers with exciting products and exceptional service while continuing to drive a strong cost savings agenda.

According to a media report, Tata Motors is looking for a foreign partner to invest in its passenger vehicle (PV) business.

Tata Motors plans to induct a foreign partner by transferring the unit to a wholly-owned subsidiary for Rs. 9,417 crore. It is said that TML Business Analytics Services could be renamed Tata Motors Passenger Vehicles.

The company is reportedly in talks with multiple European and East Asian brands to sell up to 49% stake in its India passenger vehicle business. It is said to have conducted discussions with Geely, Changan and Chery, which is a 50% partner in Jaguar Land Rover's China business. Reports also suggest that Tata has held talks with the PSA Group but the process has slowed down since the merger of the French company with Fiat Chrysler Automobiles (FCA). 

A few years ago, Tata and Volkswagen were in talks to jointly develop an economy car. But, the plan never came to fruition.

In March 2020, the Tata Motors Ltd. Board had approved a plan to subsidiarize its passenger vehicle (including EVs) business. 

Source