Bajaj GoGo P7012 drives Bajaj Auto to top in electric 3W market in April
According to the company, Bajaj Auto, already the market leader in internal combustion engine (ICE) three-wheelers with a 74% share in FY25, has now replicated its dominance in the electric space, quickly outpacing established players.Commenting on the milestone, Samardeep Subandh, President – Intracity Business Unit, Bajaj Auto Ltd., said, 'Within two months of launch, the Bajaj GoGo has helped us secure a 36% share in the EV commercial space and a leading 39% in the passenger segment. This reflects not only the product's unmatched features but also the enduring trust in the Bajaj brand.'advertisementThe success of the GoGo series cements Bajaj Auto's position as a frontrunner in the transition to electric mobility in the commercial vehicle sector. Subscribe to Auto Today Magazine
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Time of India
4 minutes ago
- Time of India
TVS Motor explores alternative sourcing to tide over rare-earth magnet crisis
TVS Motor Company is actively exploring alternative sourcing options to mitigate short and long-term disruptions caused by the rare-earth magnet (REM) crisis. The company's top management said during the Q1 FY26 post earnings call that it was able to sustain daily production of its electric vehicles despite supply chain constraints triggered by China's export restrictions on REMs. Director and CEO of TVS Motor, K N Radhakrishnan , said the company was evaluating options beyond China to secure a stable supply of rare earth magnets. 'We are actively working on heavy rare earth element-based solutions and exploring sourcing from alternative countries to reduce dependency,' he said. TVS Motor is also relying on existing inventory to tide over the crisis. 'Some developments are in progress. I may not be able to give an exact timeline, but we are looking at other countries apart from China for sourcing,' Radhakrishnan added. The company recently announced plans to launch electric motorcycles and bicycles this year. While the projects remain on track, it is yet to finalise a launch timeline given the raw material supply scenario. The rare earth shortage has already begun to impact other players like Bajaj Auto which has cautioned a grim August due to inventory depletion. 'Our component inventory saw us through until June but we are down by half in terms of production this month and am afraid we are looking at a zero month in August,' Bajaj Auto MD, Rajiv Bajaj, told The Economic Times. For the two-wheeler industry, which has been leading the EV adoption wave, a prolonged shortage could derail production momentum and slow industry growth. Carmakers like Hyundai, Maruti Suzuki, and Mahindra & Mahindra have reported no immediate disruptions due to the REM crunch. Norton's India plans TVS Motor plans to bring the iconic Norton brand with plans to launch multiple motorcycles in FY26, the first set of offerings since it acquired the British brand in 2020. 'India is a key market for Norton,' Radhakrishnan said, adding that the company would also launch the brand in the UK and other key European markets. In India, TVS will adopt a premium distribution strategy and invest significantly in brand marketing. Of the INR 2,000 crore investments earmarked for this fiscal, a large part will go towards EV development, Norton's relaunch, digital initiatives, and global expansion. Export momentum, domestic outlook TVS reported its highest-ever quarterly exports at 3.52 lakh units, led by a strong rebound in Africa. The company remains optimistic about recovery in other key markets such as Sri Lanka and Nepal, although challenges persist in Bangladesh. On the domestic front, it expects a positive demand trend, supported by a favourable monsoon and a likely recovery in rural markets. Additionally, improved retail financing is anticipated on the back of a 100-basis point reduction in bank lending rates over the last six months.
Time of India
2 hours ago
- Time of India
While House announces 25% tariff on India, releases list of levies for several countries
In this Feb. 25, 2020 file photo, Prime Minister Narendra Modi with US President Donald Trump at Hyderabad House, in New Delhi. US President Donald Trump on Wednesday, July 30, 2025 announced the imposition of a 25 per cent tariff on all goods coming from India starting August 1, plus an unspecified penalty for buying military equipment and crude oil from Russia. (PTI Photo)(PTI07_30_2025_000453A) President Trump announced a 25% tariff on India, effective August 7th, citing trade imbalances and India's ties with Russia, including military equipment and energy purchases. This action is part of a broader move imposing tariffs on nearly 70 nations, with rates varying from 10% to 40%. Trump also criticized India's membership in BRICS, viewing it as an anti-US grouping. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The US announced a 25 per cent tariff on India as the White House released an expansive list of duties that Washington will impose on exports from countries around the an Executive Order titled 'Further Modifying The Reciprocal Tariff Rates ,' President Donald Trump announced tariff rates for nearly 70 nations around the world.A 25 per cent "Reciprocal Tariff, Adjusted" has been imposed on India, according to the list released Thursday. While August 1 was the tariff deadline, the new levies will come into effect from August said in the executive order that some trading partners have agreed to, or are on the verge of agreeing to, meaningful trade and security commitments with the United States, thus signalling their sincere intentions to permanently remedy trade barriers and to align with the United States on economic and national security matters."Other trading partners, despite having engaged in negotiations, have offered terms that, in my judgment, do not sufficiently address imbalances in our trading relationship or have failed to align sufficiently with the United States on economic and national-security matters," he further said in the order that there are also some trading partners that have failed to engage in negotiations with the United States or to take adequate steps to align sufficiently with the United States on economic and national security tariff modifications shall be "effective with respect to goods entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01 a.m. eastern daylight time 7 days after the date of this order."The order said that certain foreign trading partners identified in the list have agreed to, or are on the verge of concluding, meaningful trade and security agreements with the United States."Goods of those trading partners will remain subject to the additional ad valorem duties... until such time as those agreements are concluded, and I issue subsequent orders memorializing the terms of those agreements."The tariffs in the list range from 10 per cent to 40 per cent, with Japan being charged 15 per cent tariffs, Laos and Myanmar (40 per cent each), Pakistan (19 per cent), Sri Lanka (20 per cent) and the United Kingdom (10 per cent).On Wednesday, Trump, through a post on his social media website Truth Social, announced a 25 per cent tariff on India and an additional penalty for Delhi's purchases of Russian military equipment and that the US has a massive trade deficit with India, Trump had said that while "India is our friend, we have, over the years, done relatively little business with them because their tariffs are far too high, among the highest in the world, and they have the most strenuous and obnoxious non-monetary Trade Barriers of any country."Also, they have always bought a vast majority of their military equipment from Russia, and are Russia's largest buyer of energy, along with China, at a time when everyone wants Russia to stop the killing in Ukraine - All things not good!" Trump said that India will therefore be paying a tariff of 25 per cent, plus a penalty for the above, starting on August also mounted a sharp attack on India and Russia for their close ties and said that the two countries can take their "dead economies down together"."I don't care what India does with Russia. They can take their dead economies down together, for all I care. We have done very little business with India, their Tariffs are too high, among the highest in the World. Likewise, Russia and the USA do almost no business together. Let's keep it that way, and tell Medvedev, the failed former President of Russia, who thinks he's still President, to watch his words. He's entering very dangerous territory!" Trump said, referring to former Russian President Dmitry also referred to India's membership in the BRICS (Brazil, Russia, India, China and South Africa) grouping, which he described as an event in the White House on Wednesday, Trump was asked what the additional penalty would be for India for its purchases from Russia."Well, we're negotiating right now, and it's also BRICS. You know, they have BRICS, which is basically a group of countries that are anti the United States, and India is a member of that if you can believe it," Trump said, adding that "it's an attack on the dollar, and we're not going to let anybody attack the dollar."He had said the reason for tariffs on India is partially BRICS and partially the trade deficit. "We have a tremendous deficit. So as you know, Prime Minister Modi is a friend of mine, but they don't do very much business in terms of business with us. They sell a lot to us, but we don't buy from them. You know why? Because the tariff is so high, they have one of the highest tariffs in the world."Now they're willing to cut it very substantially. But we'll see what happens. We're talking to India now, we'll see what happens. It doesn't matter too much whether we have a deal or whether we charge them a certain tariff, but you'll know at the end of this week. August 1st is a very big day for this country because money is going to pour into the United States, like we've never seen before," Trump said.
Time of India
4 hours ago
- Time of India
BJP says only thing dead is Rahul's political legacy
Rahul Gandhi (File photo) NEW DELHI: BJP on Thursday said Rahul Gandhi 's latest tirade on the Indian economy by endorsing the "dead economy" jibe of US President Donald Trump has proved that the Congress leader is "delusional, ignorant of facts and deeply frustrated". The party also took a swipe at Rahul, citing his affidavit from the 2024 Lok Sabha elections as per which he invested Rs 8 crore in the same "dead economy". "The latest tirade by Rahul Gandhi on the Indian economy has proved once again that not only he is delusional and ignorant of facts but also deeply frustrated. Parroting imported narratives to show India in bad light and posing like an expert may serve his politics but will do little to establish him as a sensible politician," Union minister Dharmendra Pradhan said on X. He said Rahul should come out of his fantasy world, else, the only thing that will be dead and destroyed is the little ground that Congress is holding. The party also questioned that if " demonetisation and a flawed GST" killed the economy, then how come India became the world's fastest-growing major economy, with nominal GDP tripling from 2014-15 to 2024-25. BJP's IT department head Amit Malviya on X said that Rahul has "hit a new low by echoing the 'dead economy' jibe - a shameful insult to the aspirations, achievements, and well-being of the Indian people." "But let's be honest -- the only thing truly 'dead' here is Rahul Gandhi's own political credibility and legacy," he added. The BJP leaders reacted after the leader of opposition Rahul Gandhi said that everyone except Prime Minister Narendra Modi and finance minister Nirmala Sitharaman knows that the Indian economy is "dead". BJP MP Anurag Thakur said making anti-India statements has become Rahul's "mentality". "Whenever anyone makes an anti-India statement in the world, he grabs it," he said.
