Latest news with #Mahindra&Mahindra
Time of India
7 hours ago
- Automotive
- Time of India
EV sales in India projected to grow 40% to 1.38 lakh units in 2025: Report
New Delhi: Passenger electric vehicle (EV) sales in India are expected to grow by around 40 per cent in 2025 to reach 1,38,606 units, up from 99,004 units in 2024, according to estimates released by market research and consulting firm Frost & Sullivan. Battery electric vehicles (BEVs) are expected to continue dominating the Indian EV market in 2025, while plug-in hybrid electric vehicles (PHEVs) are projected to account for only 0.1 per cent of sales. The report indicates that fuel cell electric vehicles (FCEVs) have not yet entered the Indian market and BEVs will continue to lead in the near term. 'SUVs and sub-compact SUVs drive the growth of EV sales in India ,' the report noted. As per 2024 data, Tata Punch, Tata Tiago, Tata Nexon, MG Comet, and MG Windsor were the top five EV models in terms of unit sales. Tata Motors led OEM sales in 2024, followed by JSW MG Motor India, Mahindra & Mahindra, BYD India, and PCA India (Citroen). The forecast for 2030 shows that EV sales could reach close to 7 lakh units under a baseline scenario. The report identifies Tata Motors, Mahindra & Mahindra, and MG Motor as the leading competitors in the space, operating with different business models. 'EV models will have driver-assist features in premium segments in the near term, however, in the long-term autonomous fleets will operate in gated communities,' the report stated. It further noted that original equipment manufacturers (OEMs) will have to be flexible in their strategies depending on market conditions and charging infrastructure. The report highlights that the Indian EV ecosystem has evolved with the support of various government initiatives such as FAME I, FAME II, Production-Linked Incentive (PLI) scheme, PM eBus Sewa, and PM eDrive. The FAME I scheme launched in April 2015 with a budget of ₹795 crore focused on early adoption, followed by FAME II in April 2019 with a budget of ₹11,500 crore to support mass adoption. The PLI scheme introduced in 2021 aims at manufacturing localisation with a ₹44,000 crore outlay. 'Government support is not limited to EV sales but is also focusing on all type of applications such as e2W, e3W, eBuses and charging infrastructure,' the report said. According to the report, India currently has over 25,500 public charging stations hosting about 60,000 connectors. Karnataka, Maharashtra, Delhi, and Tamil Nadu account for the highest number of installed EV chargers. To support future EV penetration, the country will require one charging connector for every five EVs by 2030. On the manufacturing side, the report lists critical challenges such as dependence on imported raw materials for batteries including lithium, nickel and cobalt, limited domestic cell manufacturing capability, and high reliance on battery management systems and power electronics from Chinese, Japanese, and Korean firms. The report also outlines that battery recycling, advanced power electronics, 800V architecture, vehicle-to-grid integration, battery swapping systems, and inductive charging are among the next set of technologies to watch in India's EV transition. The EV market in India is also expected to see the introduction of new technologies such as range extenders and hybrid fuel solutions combining ethanol and battery. The report cites strong indications of the introduction of PHEVs and extended range EVs (eREVs) in the Indian market.
Time of India
a day ago
- Automotive
- Time of India
Lessons from space can help Indian auto leap ahead, says Pawan Goenka
As India races towards an electric mobility future, industry veteran Dr Pawan Goenka , Chairman of IN-SPACe and former Managing Director of Mahindra & Mahindra , believes the road ahead must begin with a fundamental transformation of India's automotive supply chain — starting with localising high-quality component manufacturing. 'In EVs, low-hanging fruits are already picked. We need to reach higher now,' Goenka told ET Manufacturing at the sixth edition of the Auto Tech Summit. 'India simply cannot afford to lag in developing capabilities for all major EV components — battery packs, motors, controllers, chargers, power electronics — everything. Today, the challenge isn't talent or ambition. It's scale.' Despite the emergence of hundreds of Tier-1 and Tier-2 suppliers across the country, Indian manufacturers still depend heavily on imports for several critical components, especially motors and advanced battery systems in the four-wheeler segment. Goenka pointed out that although battery pack assembly is now being done locally by most OEMs, large-scale motor manufacturing for electric cars remains elusive. 'Three-wheeler and two-wheeler motors are made here, but four-wheeler motors are still being imported. That must change,' he said. The Indian auto component industry recorded its highest-ever revenue of ₹5.6 lakh crore in FY24, according to the Automotive Component Manufacturers Association (ACMA), representing a 14.6 per cent year-on-year growth. The country also exported components worth $20.3 billion during the same period, showing India's competitiveness in global supply chains. But growth, Goenka said, is being held back by fragmentation and lack of scale. 'Multiple suppliers catering to small volumes means no one achieves efficiency. What's needed now is collaboration among OEMs — not competition — in sourcing key EV components. That's how we built scale in ICE vehicles over 25 years. We need to do the same for EVs.' He also warned OEMs not to regress to a 1990s mindset — prioritising short-term margins over long-term capability building. 'This is the time to push the supplier ecosystem forward, not cut corners,' he said. Space-age lessons for automotive scale Goenka's transition from the automotive sector to leading India's space commercialisation push has only reinforced his perspective on building ecosystems. 'Every sector change is an opportunity to learn and contribute. When I moved from cars to space, the technology complexity was staggering. But what I brought from automotive — supplier development, manufacturing discipline, ecosystem thinking — proved very useful.' He noted that while technology is unlikely to flow from automotive into space due to complexity gaps, process innovations certainly can. 'Space manufacturing today operates in batch mode. Automotive has mastered continuous flow. That's a mindset we can apply in space to scale faster,' Goenka said. India's space sector is also witnessing a parallel shift. Since the opening of the space economy to private players in 2020, over 190 space-tech startups have emerged in India, with investments crossing ₹1,000 crore in the past 24 months, as per IN-SPACe estimates. The ambition now is to grow India's share in the global space economy from the current 2 per cent to 10 per cent in the next decade — a leap that would require ecosystem-level thinking similar to what the automotive industry experienced two decades ago. Conversely, the automotive sector can stand to gain a lot from aerospace — if cost barriers are cracked. Technologies like advanced sensors, gyroscopes, anti-vibration systems, and thermal insulation, which are critical in space missions, could be translated into automotive use cases — particularly safety — if frugally engineered. 'The real challenge is bringing those costs down by removing unnecessary features and localising production. Institutions like ARAI could play a key role in bridging that gap,' he noted. Road Safety: A Cultural Imperative When asked about safety — especially for India's vulnerable two-wheeler users — Goenka acknowledged that while vehicle safety has improved drastically, the deeper issue lies elsewhere. 'Ten years ago, Indian cars weren't safe. Today, thanks to Gadkari's push, our norms match global standards. But the bigger problem is behaviour — lack of discipline on roads, refusal to wear helmets, disregard for rules. That's where we are failing.' India accounted for nearly 1.68 lakh road accident deaths in 2022, with two-wheelers involved in over 44 per cent of fatal crashes, according to Ministry of Road Transport and Highways data. Despite improved crash-test regulations and the proliferation of safer cars, India still leads the world in road fatalities. Goenka was blunt in his criticism: 'Educated people not wearing helmets — what could be more foolish? You're risking your life for what? There's no excuse. It's not a technology issue; it's a societal one.' EV Adoption: From promise to pragmatism Goenka was candid about the electric vehicle (EV) adoption journey in India. 'Three-wheelers led the charge because it made direct economic sense — more earnings, lower running costs. Mahindra's Treo helped create that ecosystem. Two-wheelers followed due to aggressive startup activity and affordability. But four-wheelers and commercial vehicles? OEMs just didn't back them early enough.' He believes momentum is finally picking up, thanks to improving products and falling battery costs. The average price of lithium-ion cells dropped by nearly 14% in 2023 globally, according to BloombergNEF, making EVs more competitive with ICE vehicles. 'New launches like the Tata BE.9, Maruti's eVX, and upcoming Korean models are changing the landscape. Once these vehicles become mainstream, adoption will accelerate. I drive a BE.9 myself — it's a joy. Costs ₹2 per km to run, compared to ₹17 for petrol. I took it to Pune and back without charging — range anxiety is no longer a real issue.' India's overall EV penetration stood at around 6.4 per cent in FY24, led primarily by electric two-wheelers and three-wheelers, which together account for nearly 90% of total EV sales. The passenger car EV segment, while growing, still forms only about 2 per cent of the total car market. Goenka expects this to change steadily: 'Let's not expect miracles. I would cautiously say 10 per cent penetration for EV four-wheelers by 2030 is achievable — provided manufacturers continue to launch compelling products and maintain pricing discipline.' He also dismissed the often cited charging infrastructure concern. 'Range has gone up so much that charging at home is enough for most use cases. Public chargers are growing anyway. That challenge is mostly behind us.' From space-grade safety principles to coordinated localisation in EVs, Dr Goenka's central message is clear: India must stop thinking small. Whether it's components, scale, or vision, the next phase of Indian mobility will demand more collaboration, deeper innovation, and unwavering focus on long-term value.
Hindustan Times
a day ago
- Automotive
- Hindustan Times
Mahindra Scorpio-N SUV gets safer with this new bold safety addition
The Mahindra Scorpio-N now gets Level 2 ADAS with 10 safety features on its top-spec Z8L variant. Check Offers Mahindra & Mahindra has finally launched the ADAS-equipped Scorpio-N in India with a starting price tag of ₹ 21.35 lakh (ex-showroom). With this, the SUV is now equipped with 10 Level 2 ADAS features in its top-spec Z8L guise across both powertrain options. The Indian carmaker has further announced the launch of a new Z8T variant with added features. This will be positioned below the Z8L, priced from ₹ 20.29 lakh (ex-showroom). The Mahindra Scorpio-N Z8L is available in both six and seven-seater variants with the choice between manual and automatic gearboxes. The SUV can be had in 2WD or 4x4 versions with either a 2.0-litre turbo-petrol engine or a 2.2-litre diesel mill. Its Level 2 ADAS suite brings 10 features, including forward collision warning, lane departure warning, lane keep assist, adaptive cruise control with stop and go, high beam assist, smart pilot assist, and traffic sign recognition. The Scorpio-N ADAS is further fitted with exclusive features such as speed limit assist and front vehicle start alert. Also Read : New-gen Mahindra Bolero Neo spotted ahead of launch The newly-launched Scorpio-N Z8T is positioned midway within the entire Z8 range and is similarly configurable with all available powertrain options. The new variant brings premium features such as a 12-speaker Sony audio system, front camera, front parking sensors, electronic parking brake, and auto-dimming IRVMs. The Z8T further rides on 18-inch diamond-cut alloys and offers creature comforts such as ventilated front seats and a 6-way powered driver's seat. Mahindra Scorpio-N variant-wise pricing (ex-showroom) Variant Petrol Diesel MT AT 2WD MT 2WD AT 4WD MT 4WD AT Z8T ₹ 20.29 lakh ₹ 21.71 lakh ₹ 20.69 lakh ₹ 22.18 lakh ₹ 22.80 lakh ₹ 24.36 lakh Z8L (ADAS) 7-seater ₹ 21.35 lakh ₹ 22.77 lakh ₹ 21.75 lakh ₹ 23.24 lakh ₹ 23.86 lakh ₹ 25.42 lakh Z8L (ADAS) 6-seater ₹ 21.60 lakh ₹ 22.96 lakh ₹ 22.12 lakh ₹ 23.48 lakh N/A N/A Mahindra Scorpio-N: Specifications and performance The Scorpio-N SUV is available with two engine options, with the 2.0-litre mStallion turbo-petrol making 200 bhp and up to 380 Nm of torque. The 2.2-litre mHawk diesel engine is available in two distinct tunes with varying power output figures. The mHawk unit in the Z2 model produces 130 bhp and 300 Nm of torque, but it can reach 172 bhp and 400 Nm in the Z4 and higher variants. The SUV further offers 4x4 variants with a 4XPLOR terrain management system, but these are limited to the diesel models. Check out Upcoming Cars in India 2024, Best SUVs in India. First Published Date: 27 Jun 2025, 13:56 PM IST
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Business Standard
a day ago
- Business
- Business Standard
Dividend stocks! M&M, 34 others to go ex-date next week; do you own any?
Dividend stocks: Shares of Mahindra & Mahindra (M&M), Nestle India, Tech Mahindra, Petronet LNG, Bharat Forge, Biocon, Axis Bank and 28 other companies are expected to remain in the spotlight during next week from Monday, June 30, 2025, till Friday, July 4, 2025, following their announcement of dividend rewards to shareholders. The other notable companies to feature in the list include Dalmia Bharat, JSW Infrastructure, Indian Hotels Company, Escorts Kubota, Max Healthcare Institute, Nippon Life India Asset Management, Redington, Welspun Enterprises, and Cera Sanitaryware. Besides them, Container Corporation of India and Paras Defence and Space Technologies will also remain in focus. Among them, Container Corp has announced a bonus issue for its shareholders, while the latter has announced a subdivision/stock-split. The BSE data reveals that these stocks will trade ex-date during the upcoming week. The ex-date marks the day a stock begins trading without the right to receive the declared dividend, bonus issue, subdivision—whatever the case may be—meaning investors must own the stock before this date to be eligible. The companies, however, finalise the list of eligible shareholders based on their records on the record date. Among the highlighted companies, Cera Sanitaryware declared the highest dividend of ₹65 per share. The company has also set Tuesday, July 1, 2025, as the record date for determining eligible shareholders for their participation in the said announcement. This is followed by Tech Mahindra and Mahindra & Mahindra, who have announced dividends of ₹30 per share and ₹25.30 per share for their respective shareholders. They both have set the record date on July 4 for the said announcement. Here is the complete list of stocks that will trade ex-date during next week: Company Ex-date Purpose Record date CFF Fluid Control June 30, 2025 Final Dividend - ₹0.50 June 30, 2025 Dalmia Bharat Sugar and Industries June 30, 2025 Final Dividend - ₹1.50 June 30, 2025 Indian Hotels Company June 30, 2025 Final Dividend - ₹2.25 June 30, 2025 Sagarsoft (India) June 30, 2025 Dividend - ₹2 June 30, 2025 Cera Sanitaryware July 1, 2025 Dividend - ₹65 July 1, 2025 JSW Infrastructure July 1, 2025 Final Dividend - ₹0.80 July 1, 2025 Polychem July 1, 2025 Final Dividend - ₹20 July 1, 2025 Bharat Seats July 2, 2025 Final Dividend - ₹1.10 July 2, 2025 Sika Interplant Systems July 2, 2025 Final Dividend - ₹2.40 July 2, 2025 NDR Auto Components July 3, 2025 Dividend - ₹2.75 July 3, 2025 VST Industries July 3, 2025 Final Dividend - ₹10 July 3, 2025 AXIS Bank July 4, 2025 Final Dividend - ₹1 July 4, 2025 Bharat Forge July 4, 2025 Final Dividend - ₹6 July 4, 2025 Biocon July 4, 2025 Final Dividend - ₹0.50 July 4, 2025 Container Corporation of India July 4, 2025 Bonus issue 1:4 July 4, 2025 Control Print July 4, 2025 Final Dividend - ₹6 July 4, 2025 Dhampur Bio Organics July 4, 2025 Final Dividend - ₹1.25 July 4, 2025 DCB Bank July 4, 2025 Final Dividend - ₹1.35 July 4, 2025 Escorts Kubota July 4, 2025 Final Dividend - ₹18 July 4, 2025 Gloster July 4, 2025 Dividend - ₹20 July 4, 2025 Jupiter Life Line Hospitals July 4, 2025 Final Dividend - ₹1 July 4, 2025 Mahindra & Mahindra July 4, 2025 Dividend - ₹25.30 July 4, 2025 Max Healthcare Institute July 4, 2025 Final Dividend - ₹1.50 July 4, 2025 Nippon Life India Asset Management July 4, 2025 Final Dividend - ₹10 July 4, 2025 Navin Fluorine International July 4, 2025 Final Dividend - ₹7 July 4, 2025 Nestle India July 4, 2025 Final Dividend - ₹10 July 4, 2025 Onward Technologies July 4, 2025 Final Dividend - ₹5 July 4, 2025 Paras Defence and Space Technologies July 4, 2025 Stock Split From ₹10/- to ₹5/- July 4, 2025 Petronet LNG July 4, 2025 Final Dividend - ₹3 July 4, 2025 Redington July 4, 2025 Final Dividend - ₹6.80 July 4, 2025 Shine Fashions (India) July 4, 2025 Final Dividend - ₹0.125 July 4, 2025 SKF India July 4, 2025 Final Dividend - ₹14.5 July 4, 2025 Sona BLW Precision Forgings July 4, 2025 Final Dividend - ₹1.60 July 4, 2025 Supreme Petrochem July 4, 2025 Final Dividend - ₹7.50 July 4, 2025 Tech Mahindra July 4, 2025 Final Dividend - ₹30 July 4, 2025 Thermax July 4, 2025 Final Dividend - ₹14 July 4, 2025 Welspun Enterprises July 4, 2025 Final Dividend - ₹3 July 4, 2025 Container Corporation of India bonus issue Shares of Container Corporation of India will also remain in focus as they trade ex-date on Friday, July 4, 2025, following the announcement of a bonus issue of equity shares. The company, in an exchange filing, has said that its board has announced the bonus issue of equity shares in the ratio of 1:4, i.e. 1 new fully paid-up equity share of ₹5 (face value) each for every 4 existing fully paid-up equity shares of the company. This, however, remains subject to the approval of shareholders. Container Corporation of India also fixed July 4, 2025, as the record date for determining the eligibility of shareholders for issuance of bonus shares. Paras Defence stock-split Paras Defence and Space Technologies has announced the sub-division/split of the existing 1 equity share of face value of ₹10 each fully paid up into 2 equity shares of face value of ₹5 each fully paid up. The company has set July 4, 2025, as the record date for the purpose of determining the eligibility of shareholders for sub-division/split of existing shares. It is worth noting that the company is under Additional Surveillance Measure (ASM LT: Stage 1) on the BSE.
Economic Times
a day ago
- Automotive
- Economic Times
Mahindra Group-owned smallcap stock goes ex-dividend today with Rs 104.50 per share
Mahindra & Mahindra (M&M) group-backed smallcap stock Swaraj Engines starts trading ex-dividend from today, as the board of directors of the company had announced June 27 as the record date for their Rs 104.50 per share dividend eligibility. ADVERTISEMENT The dividend was announced by the company earlier in the month of April along with the company's results for the quarter ended March 2025. The company, in a separate exchange filing, said that the record date was fixed as June 27 and further added that the said dividend will be credited to the demat accounts of the eligible shareholders by July 15. 'While referring to Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby withdraw the information related to Book Closure dates i.e. from Saturday, 28th June, 2025 to Friday, 4th July, 2025 (both days inclusive) and hereby inform that Friday, 27th June, 2025 is fixed as the Record Date for purposes of determining the Members eligible to receive the dividend,' the company is the highest-ever dividend payout in the history of the company, according to Trendlyne data. The same data suggests that in the past 12 months, Swaraj Engines has declared an equity dividend amounting to Rs 95 per share and at a share price of Rs 4185.70, the company's dividend yield is 2.27%. ADVERTISEMENT The company's 52.12% equity rests in the hands of the promoter and the promoter group, while the remaining 47.88% lies in the hands of the public company's promoter and promoter group consists of M&M, who hold the entire promoter stake, according to the data available on BSE. ADVERTISEMENT The shares of Swaraj Engines have delivered multibagger returns over a period of 2 years, gaining 101.10% during this timeframe. On a 1-year basis, it has risen 39.32%, while the year-to-date (YTD) return stands at 39.52%.Over the last 6 months, the stock has gained 43.32%, and in the past 3 months, it is up 9.35%. For the 1-month period, the stock has delivered a more modest return of 2.94%. ADVERTISEMENT On Thursday, the shares of Swaraj Engines closed 1% higher at Rs 4,187.90 on the BSE. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
