What the travel, real estate, fintech, electric vehicle, and other industries need from FM

Live Updates on Budget 2024 Expectations: The last Budget of the current Narendra Modi government is scheduled to be presented by Finance Minister Nirmala Sitharaman on February 1, 2024. This budget is anticipated to be an interim budget or a vote on account because it is being released ahead of the Lok Sabha elections year. The crucial query is: Will Finance Minister Nirmala Sitharaman announce major tax payer and salaried individual relief measures? There are many conjectures about possible changes to the income tax slab rates for FY 2025, which could affect both the current and the proposed income tax regimes.Will there be initiatives to make the new income tax system more enticing to taxpayers? The new income tax regime, which is currently the default tax structure, saw significant adjustments implemented by FM Sitharaman in the previous year's Budget. In addition, an unprecedented capital investment was declared in order to promote economic expansion. For real-time coverage of Budget 2024 expectations across multiple industries, subscribe to Mint Online.Live Budget 2024 Expectations: The fintech industry anticipates statements regarding rules, license procedures, and tax breaks. "Digital adoption and innovation in India are contingent upon a robust Fintech ecosystem." In the next budget, we would like to see policy initiatives related to regulations, licensing process simplification, and providing tax advantages for Fintech businesses. ToneTag CEO and founder Kumar Abhishek stated, "This will create a dynamic environment where cutting-edge solutions like AI and Voice can flourish and propel India's digital transformation. "Expectations for the Budget in 2024 Live: According to Rupyy CFO, expect clearly defined action plans to advance digital payments and improve digital infrastructure. "We anticipate more detailed action plans to fortify digital infrastructure and encourage digital payments for greater financial inclusion from the interim budget. Stronger, longer-lasting, and more precisely defined incentives to promote the use of electric vehicles will also contribute to the expansion of the auto finance industry. It will be beneficial to include EV finance as a priority sector loan, which will reduce costs and boost uptake. Fintech companies are often looking for a GST subsidy in order to improve government benefits and financial services accessibility. We see development potential in the fintech market, which is predicted to reach INR 11.36 Trn by FY 2028.  

Opinion: Colin Chapman Would be Turning in his Grave

Simplify, then add lightness,’ was his philosophy. This ethos was manically implemented, both in his Grand Prix-winning machines, as well as his iconic road cars. He believed that a racecar should practically fall apart once it crosses the finish line. If it didn’t, it was clearly overbuilt.hapman pushed design and engineering to its very limit. Every bolt was examined, drilled, shaved, and optimized for lightness. As a result, his F1 cars were the quickest, but they were also the deadliest – the driver, after all, was the crumple zone. And don’t forget, this was a time when Formula 1 was notorious for being perilous. When Chapman died in ‘82, the glory years of Lotus were behind him. But, while the company struggled for stability, it never strayed far from its roots. Present day Lotus has access to deeper pockets than ever before, as it’s owned by Chinese automotive giant Geely – which also owns Volvo Cars – but the car you see on the cover of this issue is unlike anything that’s come before from this British brand.The Eletre is an ultra-high-performance electric SUV that produces in excess of 900 horses and sprints to 100km/h in under 3 seconds. But it also weighs upwards of three tons – four times more than the Lotus Elise that I drove at the Silverstone Grand Prix circuit over two decades ago. But this is not to take away from the fact that Lotus still makes some very evocative and ‘lightweight’ sports cars. The Emira is not only one of the most desirable new cars on sale today (albeit not in India), but also one of the last few sports cars that can still be had with a manual transmission. So, clearly, what Lotus is doing is using its access to prodigious reserves of Renminbi and the latest EV tech from China to ensure that it becomes much more than just a niche sport car maker and emerges as a force to reckon with amongst the likes of Porsche, Lamborghini, and the like. So, no matter what you think of the Eletre, what’s at play here is a clever strategy that’s worked for the aforementioned brands – both of whom have used SUVs to dramatically expand their footprint and are now hoping that EVs will help do the same once again.Also Read: High voltage EVs are Coming Thick & Fast...This is also another reminder, not that one was needed, that the Chinese auto industry has stolen a march when it comes to EV development. If any other proof was needed, you need only look at the fact that BYD has overtaken Tesla as the number one electric car brand in the world. In fact, BYDs proprietary blade batteries are already powering some Tesla models.So, this brand-new Lotus is not just emblematic of the resurrection of another storied marque from the past, but also of the Chinese automotive industry cementing its position as a world leader and market mover going forward.  

Range Rover Evoque facelift launched in India at Rs 67.90 lakh

JLR India has launched the Range Rover Evoque facelift at a starting price of Rs 67.90 lakh (ex-showroom). Available in Dynamic SE trim only, the SUV comes with a moderate exterior update, while the interior has been tweaked significantly. The powertrain options remain same. The Range Rover Evoque facelift gets new headlamps and LED DRLs. The latest family grille design now provides a unified look across the Range Rover brand. The SUV has a coupe-like silhouette, floating roof, flush deployable door handles, and new alloy wheels. Among the exterior colour options are Tribeca Blue, Corinthian Bronze, Narvik Black and Corinthian Bronze. The new Range Rover Evoque comes with the latest-generation Pivi Pro infotainment technology, which can be accessed by a fresh 11.4-inch curved glass touchscreen. Pivi Pro supports smartphone connectivity with wireless Apple CarPlay and Android Auto. There is a wireless charging option as well. The climate, seating and audio volume controls are visible via new sidebars, featuring multi-functional sliding controls on either side. While starting a journey, drivers are presented with a pre-drive panel for fast access to commonly used features, such as window demisters, and heated and cooled seats.The Range Rover facelift is also claimed to offer one of the most sophisticated suites of camera technologies in its class with a 3D surround view, clearsight ground view and clearsight interior rearview.  There is a fresh centre console design with a new gear shifter. Additionally, there is new detailing, including Moonlight chrome on the steering wheel, centre console trim and air vents. Like before, there is a panoramic sunroof. The new Range Rover Evoque gets Cabin Air Purification Plus tech, featuring PM 2.5 filtration and carbon dioxide management. The SUV has a couple of engine options -- 2.0-litre petrol (247hp and 365Nm) and 2.0-litre Ingenium diesel (201kW and 430Nm). Both engines, with mild-hybrid electric tech, come mated with a 9-speed automatic transmission.  

Toyota Innova Crysta, Fortuner, Hilux despatches temporarily on hold in India

Toyota Kirloskar Motor will be temporarily suspending despatches of the Innova Crysta, Fortuner and Hilux utility vehicles in India, amid the discovery of irregularities in horsepower output certification test on the diesel engines in these models. Toyota Motor Corporation (Toyota) said it had commissioned Toyota Industries Corporation (TICO) to develop its diesel engines. On Monday, TICO reported to Toyota that a special investigation committee set up to look into the potential certification irregularities stated that irregularities had occurred during the horsepower output certification testing for three diesel engines that Toyota had commissioned to TICO.In a global statement, Toyota Motor Corporation said that during certification testing, the horsepower output performance of engines was measured using electronic control units (ECU) with software that differed from that used for mass production, so that results could be measured to make values appear smoother with less variation. Ten models use the affected engines globally, including six in Japan. The Innova Crysta, Fortuner and Hilux account for almost a third of Toyota Kirloskar Motors’ (TKM) total sales in India. To our sister publication Autocar Professional’s query, a Toyota Kirloskar spokesperson explained that the irregularities concern the ‘smoothing’ of power and torque curves, but did not lead to any over-stating or over-claims on horsepower, torque or other powertrain-related values. “Moreover, this does not have any impact on the emissions or safety of the affected vehicles,” assured the spokesperson.Thus, while despatches have been suspended, the company will continue to produce and take orders for the Innova, Fortuner or Hilux. "For cars that have already been despatched but have not yet been delivered to the customer, we will carefully explain to them about this condition. Thereafter, we will proceed with registration and delivery for customers who opt to receive their vehicles,” explained the spokesperson.In its statement, Toyota Kirloskar Motor said, “Nevertheless, TKM sincerely apologises for any inconvenience and concern this irregularity may cause to our customers and other stakeholders." Toyota Kirloskar Motor also said it is working with relevant authorities to reconfirm the data used for the certification of the affected vehicles. Meanwhile, Toyota Motor Corporation added that the company has reverified the mass-produced products manufactured at the plant and confirmed that the affected engines and vehicles meet engine performance output standards. “Therefore, there is no need to stop using the affected engines or vehicles. However, we deeply apologise to our customers who have been supporting affected vehicles and waiting for a long time, and also to all other stakeholders for the significant inconvenience and concern that this has caused,” added Toyota Motor Corp.Based on the results of the investigation, its subsidiary TICO decided on Monday to temporarily suspend shipments of the affected engines. Going forward, Toyota said it will provide detailed explanations to authorities and proceed with appropriate measures, including conducting testing in the presence of witnesses, if appropriate. “We consider the appropriate process of certification to be a major prerequisite for doing business as an automobile manufacturer. We recognise the gravity of the fact that the repeated certification irregularities at TICO, following those at Daihatsu, have shaken the very foundations of the company as an automobile manufacturer,” said the release.The episode may lead to a restructuring of the relevant business, which will require a change, claims Toyota, “in the mindset of all individuals, from management to employees, as well as a drastic reform of corporate culture. Such tasks cannot be accomplished overnight. Hence, as the party responsible for transferring the diesel engine business, Toyota will continue to provide support toward the revitalisation of TICO's engine business.”     

Porsche Launches New Macan EV At Rs 1.65 Crore: 5 Things You Need To Know

Porsche has launched the 2024 Macan EV, confirming that the nameplate will now be solely offered with an electric powertrain. It is the first all-electric SUV by Porsche and was launched in India immediately after its global debut. For now, you only get the bonkers Turbo variant, priced at Rs 1.65 crore (ex-showroom). But we expect lower-end versions to be available down the road. Here are five things you need to know about. The Macan might be instantly recognisable as one thanks to its familiar silhouette. However, there’s plenty new with certain design elements taking inspiration from the Taycan. That includes the new four-point LED DRLs, which get their own housing on top with the headlights located lower down the bumper.  Shifting to the side profile, the 2024 Macan flaunts new sporty five-spoke alloy wheels, which can be configured up to 22 inches in size. And moving on to the rear, you get a new set of connected LED tail lamps that increases its wow factor. Another highlight is that it features an adaptive rear spoiler instead of one integrated above the rear windshield as seen in the ICE Macan. Inside, the cabin of the Porsche Macan EV is similar to that of the facelifted Cayenne, as its design closely resembles it. Displays galore as you get not one, but three screens for the driver, infotainment and co-driver. Thankfully, you still go get physical controls for operating the climate control. Another interesting touch is the ambient lighting along the dashboard, serving not only an aesthetic purpose but also functioning as communication lights for providing warnings and alarms.  The all-electric Macan is equipped with a triple-screen setup comprising a 12.6-inch digital driver’s display, a 10.9-inch touchscreen infotainment system, and another 10.9-inch display for the front passenger.    

Indian luxury car buyers move from diesel to electric

Sales of diesel vehicles in the luxury vehicle segment have more than halved in the last five years even as the rich and well-heeled have taken the lead in adoption of electric vehicles in the country. The share of diesel in total sales of luxury vehicles in the local market declined to 35% last year from about 80% in 2018, and electric vehicles now account for 6% of overall volumes in the segment - thrice the share of EVs in the mass market, as per industry estimates. Ease of installing charging points at homes or offices for more affluent buyers who can also buy electric as a second or third vehicle has been fuelling demand for these cleantech vehicles at the upper end of the market, industry executives said. The "better than expected demand" for EVs in a country where charging infrastructure is yet not widely accessible has surprised carmakers like BMW, Audi, and Mercedes Benz, who have together lined up more than half a dozen EV models for launch in the next one year to capitalise on latent demand. Market leader Mercedes Benz India has even commenced local assembly of EV EQS 580 at its facility in Pune (its first assembly plant outside Germany for EVs), while others are fast-tracking feasibility studies for the same, to bring down costs of electric vehicles in the country. The luxury carmakers are clearly not as gung-ho about their diesel offerings. "The share of diesel in vehicle sales is already on a decline," Balbir Singh Dhillon, head of Audi India, told ET. "Going ahead, we will see a transition to petrol and electric vehicles in the market, which was earlier dominated by diesel." Once the share of diesel in sales of luxury vehicles dips to 20%, it is unlikely to be viable for any manufacturer to continue to offer the fuel option to customers, Dhillon said. Audi India had stopped sales of diesel vehicles in the country ahead of the transition to BSVI emission norms, and has on offer only petrol and electric cars here. The company, which has on offer four EVs in the country with prices starting at Rs 1.2 crore, has plans to strengthen its portfolio with more affordable battery electric cars to expand its share in the space. BMW, which leads the Indian luxury EV market with 50% share in 2023, plans to drive in two new EV models in 2024 while Mercedes Benz India has scheduled three new EV launches in the country this calendar year. BMW, which saw the share of diesel vehicles slide to 36% last year from 65% four years back, is working on introducing more electric vehicles in India at varied price points to cater to a wider array of customers. "We have the most diverse product portfolio in electric with five distinct products and will continue to strengthen our range to build on our leadership position in EVs," BMW Group India president Vikram Pawah said.  

HeroMotoCorp unveils CE001 Limited Edition: A tribute to founder on 100th birth anniversary

HeroMotoCorp, the renowned two-wheeler giant, stole the spotlight at the Hero World 2024 event with the dazzling showcase of the Mavrick and Xtreme 125R. However, the real showstopper turned out to be the unexpected unveiling of the highly anticipated CE001 limited edition motorcycle. This exclusive model, based on the new Hero Karizma XMR 210, is set to capture the hearts of motorcycle enthusiasts, as it pays homage to Hero Group's founder, Dr. Brijmohan Lall Munjal, on his 100th birth anniversary.Marking a significant milestone, the Hero CE001 represents the company's first foray into crafting limited edition offerings for its customers. Described by the manufacturer as the "most special bike built in India," this commemorative edition is a testament to the legacy of Dr. Brijmohan Lall Munjal and the rich history of the Hero Group. The choice of the Hero Karizma XMR 210 as the base for the CE001 holds sentimental value, as the original Karizma was conceived during the tenure of Dr. Brijmohan Lall Munjal as the Chairman Emeritus. The CE001 maintains the essence of the original design, incorporating the distinctive half-fairing version that pays homage to the classic motorcycle. Adding to its allure, the limited edition motorcycle features bodywork crafted from lightweight carbon fiber, ensuring a substantial reduction in weight compared to the stock model. Riders can also expect an upright riding posture for enhanced comfort. While HeroMotoCorp has not disclosed specific details about engine modifications, it is anticipated that the CE001 will boast a power boost over the standard model. The Hero Karizma XMR, serving as the foundation, boasts a trellis frame housing a potent 210 cc single-cylinder, liquid-cooled engine, producing 25 bhp and 20 Nm of peak torque. The CE001 is expected to offer a superior power-to-weight ratio, accompanied by a range of performance upgrades, including the inclusion of an Akrapovic exhaust. The company has committed to delivering all 100 units of the CE001 by July this year, with the entire stock available for purchase online. New Delhi: The upcoming interim budget is unlikely to have any additional incentives for hybrid vehicles, people aware of discussions in the government said. A scheme, FAME-II, already exists to incentivize both hybrid and electric vehicles. In addition, a committee instituted by the ministry of heavy industries (MHI) will seek the Indian auto industry’s views on the possibility of reducing taxes on hybrid vehicles. According to documents released by the U.S. National Highway Traffic Safety Administration, Tesla acknowledges that software instability may impede the display of images from the backup camera while the vehicle is in reverse, thereby heightening the risk of a potential collision. Tesla emphasizes in the documents that it is currently unaware of any reported crashes or injuries related to this issue. The problem has reportedly been rectified through an online software update.Owners of the affected vehicles will receive notification letters starting March 22.  

Tata Power, Indian Oil Corp tie up to deploy over 500 EV charging points across India

Tata Power EV Charging Solutions Limited (TPEVCSL), a Tata Power Group Company and one of the leading EV Charging solutions providers, and the IOCL have signed a memorandum of understanding (MoU) to roll out fast and ultra-fast electric vehicle (EV). charging points across India.    Tata Power on Monday said its subsidiary Tata Power EV Charging Solutions has inked an agreement with India Oil Corporation Ltd (IOCL) to install more than 500 fast and ultra-fast electric vehicle (EV) charging points across India. Tata Power will install EV charging points across multiple IOCL retail outlets, a statement said. Tata Power EV Charging Solutions Limited (TPEVCSL), a Tata Power Group Company and one of the leading EV Charging solutions providers, and the IOCL have signed a memorandum of understanding (MoU) to roll out fast and ultra-fast electric vehicle (EV). charging points across India.  These EV charging points will be installed in major cities like Mumbai, Delhi, Kolkata, Bengaluru, Ahmedabad, Pune, and Kochi, as well as across major highways such as the Mumbai-Pune Expressway, Salem-Kochi Highway, Guntur-Chennai Highway and the Golden Quadrilateral. This strategic collaboration focuses on building a reliable and expansive intercity charging network which will help alleviate range anxiety for EV owners traveling between cities. Virendra Goyal, Head -Business Development-EV Charging, Tata Power, said, "Our partnership with IOCL is a strategic move towards establishing a robust EV charging network in the country. Leveraging IOCL's extensive presence, Tata Power will set up fast and superfast charging. points in multiple regions." The EV users will have a dual advantage of a seamless EV charging experience through the 'Tata Power EZ Charge' app and 'IndianOil e-Charge' mobile app that can be used to locate and book the chargers at their convenience. Representing IOCL, Saumitra Shrivastava, Executive Director (Retail-N&E) expressed the Corporation's commitment to adapting to the rising trend of electric vehicle penetration."IOCL envisages to provide 10,000 EV charging stations by 2024 transforming retail network to complete energy solutions outlets. With more than 6,000 EV charging stations at present, the company plans to keep expanding its reach," Shrivastava said.Tata Power has established itself as a leader in the electric vehicle charging domain, with a substantial market share of nearly 60 per cent.  

e-Sprinto accelerates electric mobility revolution with grand opening of showroom in Agartala

The new showroom offers a diverse range of choices, featuring popular models like the e-Sprinto LS and e-Sprinto HS, along with the recently launched 'flagship killer' Rapo and Roamy in the low-speed category, and the high-speed model, Amery.In a move towards broadening its dealership network across India, e-Sprinto unveiled its newest showroom in Agartala, Tripura. This significant event symbolizes a substantial leap towards providing sustainable and efficient electric mobility options to consumers in the Expanding Electric Choices in Tripura                                                                  With the limited availability of electric mobility options in Tripura, the new showroom offers a diverse range of choices, featuring popular models like the e-Sprinto LS and e-Sprinto HS, along with the recently launched 'flagship killer' Rapo and Roamy in the low-speed category, and the high-speed model, Amery.     Since its establishment in March 2022, e-Sprinto claims to have successfully sold over 8000 electric scooters. The company now sets its sights on reaching a remarkable milestone of 10,000 units sold by the year 2024.    Atul Gupta, Co-Founder & Director of e-Sprinto, stated, “We're thrilled to open our showroom in Agartala, a crucial step in our mission to bring sustainable electric mobility to every corner of India. This expansion reflects our commitment to innovation and accessibility."   The expansion into Agartala aligns with e-Sprinto's broader agenda of reaching every state in India and transforming the landscape of electric mobility. The showroom opening is expected to have a transformative impact on the nearby areas, offering advanced and eco-friendly transportation options while contributing to the local economy and job creation." "Despite facing challenges due to the distance and location of Tripura state, e-Sprinto has successfully overcome these obstacles to bring the benefits of electric mobility to the region. The company's commitment to sustainability and innovation is reflected in its growing presence in major cities like Kolkata, Bengaluru, Chennai, and Delhi NCR," stated the company.  

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2024 Hyundai Creta Facelift Launched In India; Know Specifications HERE

"The Automatic variants of the Hyundai Creta 2024 facelift introduce Drive Modes, offering three options - Eco, Normal, and Sport.                                      The highly anticipated 2024 Hyundai Creta Facelift made its debut in the Indian market, ushering in a new era of design and features. This mid-life cycle update promises a significant aesthetic makeover, distinguishing itself from its pre-facelift counterpart. Here’s a detailed look at what the facelift brings to the table. Equipped with a McPherson strut and coil springs at the front and a coupled torsion beam axle at the rear, the Creta ensures a dynamic and comfortable ride. The 2024 variant maintains the same wheelbase of 2610mm while measuring 2610mm in length, 1790mm in width, and 1635mm in height.The Automatic variants of the Hyundai Creta 2024 facelift introduce Drive Modes, offering three options – Eco, Normal, and Sport. Additionally, the SUV features three traction modes, including Snow, Mud, and Sand, providing adaptability for diverse driving conditions.   The interior of the new Creta boasts fabric seats in lower variants, semi-leather in mid variants, and luxurious leather seats in the top SX(O) variant. Adding to the premium experience, the Panoramic Sunroof, a popular feature, will be available from the S(O) variant onwards, with voice-assisted smart functionality in the top SX, SX Tech, and SX(O) variants.The 2024 Hyundai Creta Facelift retains the 1.5L U2 CRDi Diesel Engine, delivering 113 bhp and 250 Nm of torque. The diesel engine offers flexibility with a choice between a 6-speed manual or a 6-speed torque converter automatic transmission. The SUV also continues with the 1.5L Mpi Petrol Engine, producing 113 bhp and 143.8 Nm of torque, paired with either a 6-speed manual or a CVT gearbox.  "

Boeing 737 MAX9 operated by Alaska Airlines Resuming Flight Following Mid-Air Door Blowout

Three weeks following a mid-flight panel blowout and emergency landing that prompted extensive inspections of the aircraft, Alaska Airlines progressively resumed flights with its Boeing 737 MAX 9 fleet on Friday, the company said. Flight 1146 was the first flight, departing Seattle for San Diego at 2:20 pm and arriving in California at 6:14 pm, ninety minutes later.   The flight comes after the Federal Aviation Administration declared on Wednesday that the MAX 9 would be cleared to resume service through a maintenance and inspection program.Alaska Airlines stated that it anticipates having all 65 of its MAX 9 aircraft inspected by the end of next week, enabling it to resume its regular schedule.   "Each of our 737-9 MAX will return to service only after the rigorous inspections are completed and each plane is deemed airworthy according to FAA requirements," the business stated.    "The individual inspections are expected to take up to 12 hours per aircraft."   The FAA grounded 171 MAX 9 planes with a similar configuration to the one in the January 5 incident, in which a door plug blew out mid-flight.Inspectors have stated that although there were no major injuries in the incident, it could have been disastrous. In January, 3,000 Alaska Airlines flights were canceled as a result of the grounding. The company stated on Thursday that it anticipates the grounding to cost it $150 million. The first flight of one of United Airlines' aircraft is scheduled for Sunday; however, the airline did not rule out an earlier return to service. United Airlines possesses the largest fleet of Boeing models affected by the grounding order. This information was released on Thursday. One of the investigators from the US Transportation Safety Board (NTSB), which is in charge of investigating the events leading up to the January 5 incident, informed AFP on Friday that the investigator was scheduled to return to Boeing's Renton plant in Washington state that day.    According to the agency, the investigative team will create a timeline starting with the production phases and ending with the in-flight mishap.

TVS Motor Q3 net profit rises 59% to ₹479 crore

New Delhi, TVS Motor Company on Wednesday reported a 59 per cent increase in its consolidated net profit to Rs 479 crore for the third quarter ended December 31, 2023, riding on the back of robust sales across markets. The company posted a consolidated net profit of Rs 301 crore in the October-December period of the last fiscal. Revenue from operations rose to Rs 10,114 crore in the December quarter as against Rs 8,066 crore in the year-ago period, TVS Motor Company said in a regulatory filing.On a standalone basis, the company reported a net profit of Rs 593 crore for the October-December quarter, a growth of 68 per cent as compared with Rs 353 crore in the third quarter of 2022-23 fiscal. Revenue from operations rose to Rs 8,245 crore in the third quarter as compared with Rs 6,545 crore in the same period of last fiscal.TVS said total two-wheeler sales rose to 10.63 lakh units in the third quarter as against 8.36 lakh units a year ago.Two-wheeler exports rose to 2.16 lakh units in the period under review from 2.07 lakh units in the year-ago period.  

Northeastern Chinas luxury car is adorned with a distinctive floral pattern.

As crowds of tourists continue to pour into China's northeastern provinces during the peak winter travel season, vibrant flower prints are proving to be a popular trend there. This Rolls-Royce is parked in a mall in Shenyang, Liaoning Province, and is covered in the brand's iconic floral print. Featuring detailed images of birds and flowers, the pattern plasters most of the visible surface of the luxury car, including the wheel covers.  A Rolls-Royce covered in a floral pattern was photographed at a shopping center in Shenyang, Liaoning Province, on January 23, 2024. /IC  

Here’s A Detailed Look At 2024 Kia Sonet Facelift Mid-spec HTX Variant In 8 Images

Kia has just refreshed its popular subcompact SUV, the Sonet, with an updated design, refreshed interior, and new features. And if you are eyeing the 2024 Sonet with automatic transmission, the HTX variant serves as an entry-level option for it. Take a look at what the HTX variant has to offer. From the front, the HTX variant resembles the  HTK+ variant (that sits right below it), featuring an updated grille with chrome surrounds. However, with the HTX variant you get LED headlights (halogen headlights in HTK+ variant) with LED DRLs and LED fog lamps. The lower section showcases a silver skid plate, providing a contrasting look. It is equipped with 16-inch steel wheels that are designed to mimic the look of an alloy rim. Moving onto the rear, the HTX variant is equipped with connected LED taillights, and the bumper gets a similar design treatment to the front with a silver skid plate. Stepping inside, the first thing you will notice is the dual-tone black and tan brown leatherette upholstery for the seats. The cabin features all-black dashboard with silver inserts on the AC vents and door handles that add a dash of contrast. Adding to the premium feel are the leather-wrapped steering wheel and gear knob.It's worth noting that opting for the turbo petrol with clutchless manual transmission or diesel with manual transmission gives you a lighter beige tone to the upholstery. Additionally, the rear seats offer a 60:40 split for added flexibility, and rear passengers benefit from adjustable headrests, and a rear centre armrest with cup holders.With the HTX variant, you get front ventilated seats (limited to the 1-litre turbo with 7-speed DCT and 1.5-litre diesel with 6-speed AT and iMT variants). Apart from this, it comes equipped with a 8-inch touchscreen infotainment system with wireless Android Auto/Apple CarPlay, a 4.2-inch semi digital driver’s display, sunroof, Type-C charging ports, electrically foldable ORVMs, drive modes, paddle shifters in automatic transmission variants, and a 6-speaker sound system. Safety features include six airbags, ABS with EBD, electronic stability control, a tyre pressure monitoring system, hill-start assist, rear disc brakes, ISOFIX mounts for child seats, rear parking camera, front and rear parking sensors as well as seat belt reminders for all passengers.    

Mid-spec Tata Punch EV vs Top-end Tata Tiago EV: Cross-shopping Simplified

Tata Motors recently launched the Punch EV, introducing a new electric micro-SUV in our market. It sports a refreshed look and is based on a completely new electric car-only platform. The Punch EV joins Tata's lineup of electric vehicles, including the Tiago EV. If you are considering both the Punch EV and Tiago EV, we have simplified your decision-making process with a detailed comparison. Check it out. The mid-spec Punch EV Standard Range marginally undercuts the top-spec Tiago EV Long Range. It's important to note that, we are considering the Tiago EV configured with a 7.2 kW AC fast charger, which comes at a premium of Rs 50,000. Both the vehicles come standard with 3.3 kW AC charger. Considering the segment, the Punch EV is undoubtedly a larger vehicle than the Tiago EV, offering more space and a larger boot. It also has a longer wheelbase and that should result in more room inside the cabin.  Things change in the features department, with no significant difference between the two cars. In fact, the Tiago EV offers additional features such as rain-sensing wipers, a larger 8-speaker sound system, and a tyre pressure monitoring system. On the other hand, the Punch EV rides on larger 15-inch wheels and comes equipped with 6 airbags. As seen in the table above, there is barely any difference between the two cars in terms of powertrain specifications. However, the Punch EV's electric motor produces slightly more power. In terms of claimed range, both deliver a similar range. Do note that you get a second powertrain choice with both cars: Medium Range in the Tiago EV and Long Range in the Punch EV.  Ultimately, your decision will depend on whether to choose a larger micro-SUV or a hatchback with a smaller form factor, as both cars more or less offer a similar features set and power figures. Keeping the size factor aside, choosing the Punch EV means opting for a more modern product with an updated design. If you can configure it to higher-spec variants, you also get additional niceties like ventilated seats, and a larger infotainment and digital driver’s display. You also get the novelty factor of an SUVThe Tiago EV, on the other hand, is based on its petrol-powered counterpart, maintains the same design and feel, which might feel dated when compared to the Punch EV. Nevertheless, it does offer some additional conventional features if aesthetics are overlooked. That said, the new Punch EV is definitely the more modern product here and is our pick.

Himanshu Bajaj is appointed as MD and Country Co-leader by Alvarez & Marsal India.

Himanshu Bajaj has been named MD and Co-Country Leader by A&M India. At BYJU's Tuition Center, Himanshu, an engineer and financial analyst, most recently held the positions of CEO and Business Head firm's corporate growth plan. Himanshu spent more than 16 years as Kearney's Head of Asia, Consumer, and Retail Practice in his prior positions. Early in his career, he also held positions as a Revenue Management Analyst with Federal Express and a Consultant with TSMG. "Himanshu's appointment demonstrates the firm's continued commitment to investing in people, achieving scale, and positioning for growth in support of clients in India and around the world," stated Bryan Marsal, CEO and co-founder of A&M, in welcoming Himanshu to the leadership team. The next stage of our worldwide strategic expansion plan is represented by A&M India's growing talent pool and products, which complement our integrated platform and are consistent with our operational legacy."We are growing our firm in India to meet a high level of demand and expanding our transformation and digital capabilities across sectors," Utamsingh said, welcoming his co-leader Himanshu as well. Over the next 24 months, we anticipate tripling the number of Managing Directors based in India. It gives me great pleasure to welcome Himanshu and I look forward to working with him to head our India business."Adding Himanshu to our team aligns with our strategy for leveraging innovation, growing consumer demand, rising per capita income levels, and strong investment incentives we see across India," stated Luis de Lucio, MD, Head of Growth Markets. Our capacity to assist corporations, private equity (PE) firms, and organizations in finding answers to challenging issues including supply chain management, manufacturing alternatives, and growth acceleration is strengthened by Himanshu's experience. We have big ideas. Our team in India is growing and prepared. "India will see tremendous growth over the next several decades and become the leading market for corporate and investment activity," Himanshu continued. Established and startup companies in a variety of industries will need assistance in resolving challenging operational and strategic issues as they strive to create meaningful value. One important point of differentiation in the market for A&M is the combination of its operational history and range of services, which includes corporate finance and restructuring, financial due diligence, and disputes and investigations.  

Dakar 2024 Result: Harith Noah Wins in Rally 2 Class, Hero MotoSports Makes History

The 2024 Dakar Rally was a great event that came to a close. After years of KTM domination, Honda finally won the Dakar Rally, with Hero MotorSports finishing in second place, just behind the KTMs. It is worth mentioning that Harith Noah won the Rally 2 class, which was a significant milestone for India in the Dakar Rally.The short 175km special stage of the day was all KTM, as the brand was on full display with a 1-2 podium finish. Toby Price won the stage, with defending champion Kevin Benavides in hot pursuit. But the overall winners were decided over the previous days, and Honda's Ricky Brabec was in the lead from the start. For a short time, Hero's Ross Branch was the race leader. After Benevides and Price of KTM crossed the finish line first and second, Adrien Van Beveren of KTM took third.As the only manufacturer entered in the Rally 2 class of this year's Dakar Rally, Harith Noah—supported by TVS—and Sherco were the only competitors to stand out. After finishing the most recent stage in eleventh place, the Indian rider won the Rally 2 class overall. Even in the overall standings, Noah's performance was remarkable. He finished the 2024 Dakar Rally in eleventh place, making history as the first Indian to ever win a stage, finish on the podium, and finish in the top fifteen.Noah showed resiliency by overcoming health issues in the first week and then picked up steam in the second week of the competition. His incredible jump from 18th to 13th place overall over the 48H Chrono Stage 6 is worth noting. Stage 8 and Stage 10, in which he twice set the fastest rally, were particularly impressive for his sustained growth.It's important to remember that RallyGP and Rally 2 are two separate classes. Only highly experienced racers who have been accepted by the FIM Championship Committee based on their sports credentials are allowed to compete in the RallyGP class. Rally 2 offers a more welcoming environment for riders from various backgrounds since it is available to anyone who isn't already in the RallyGP riders' registration.Despite finishing ten minutes and fifty-three seconds behind winner Ricky Brabec, Hero MotoSports' Ross Branch managed an outstanding second-place finish in the 2024 Dakar Rally. Hero MotoSports has achieved a remarkable feat, becoming the first Indian team to secure a podium place in the esteemed race.By the end of the sixth stage of the 2024 Dakar Rally, three of Hero's four riders had pulled out due to the extreme difficulties they had encountered. Ross Branch was the sole Hero MotoSports competitor in Dakar 2024, despite the team's other three riders withdrawing: Joaquim Rodrigues, Sebastian Buhler, and Joan Barreda Bort. Nevertheless, he quickly established himself as a strong candidate for the ultimate win.Branch won the first stage of the rally and remained in first place until the fifth stage. He showed his skill by finishing second in Stage 11 with the fastest time and then followed Honda's Ricky Brabec closely in the following stages.Ross Branch said: “Finally finished the Dakar!! It was a really tough Dakar 2024, and I'm so thrilled to be here! Finishing on the podium was always the goal, and today it's a dream come true. I'm really over the moon to achieve this goal for Hero. And a big thank you to the team for developing a highly competitive machine, for the sleepless 3 weeks here, and for everything they've sacrificed to reach to this point. I'm really proud of my team. We've got some more work to do to be on the next step, so we'll look forward to that in the next year. A big thank you to everyone for your continued support from all around the world!”With a ninth-place finish in the last 174-kilometre stage near Yanbu, the South African rider solidified his position as second overall. This incredible feat not only marks Branch's first podium finish at the Dakar, but it also marks the first podium for an Indian team in the history of the race.    

Hyundai Motor India Acquires GMs Talegaon Plant; to Invest Rs 6,000 Crore in Maharashtra

Hyundai Motor India Ltd. (HMIL), has acquired the Talegaon factory of General Motors India, located in Pune, Maharashtra. Following the fulfillment of specific requirements and obtainment regulatory clearance from the relevant government departments and stakeholders, the acquisition has been completed. Hyundai Motor India has also inked a formal Memorandum of Understanding (MoU) with the Maharashtra government. With this, it has pledged to spend Rs 6,000 crore in the state.  At the moment, the Talegaon factory produces 1,30,000 units per year. To reach its targets, the automaker plans to increase production capacity even further. HMIL states that the facility will be updated to meet the company's global manufacturing and operational needs. To achieve production excellence, investments will be undertaken in stages to gradually update the plant's existing infrastructure and equipment.Mr. Un Soo Kim, MD & CEO, of Hyundai Motor India Ltd., shared his thoughts on the acquisition and commented ''India is a very important market for Hyundai Motor Company, and we are committed to providing benchmark creating products & technologies to Indian customers. As we look forward to the next decade of progress for Hyundai Motor India, it is critical for us to augment our manufacturing capacity in India.''He further added ''The Talegaon manufacturing plant will play the role of a catalyst in achieving HMIL’s 1 million annual production capacity milestone. The acquisition of the Talegaon plant reinforces our commitment to ‘Atmanirbhar Bharat’ (Self-Reliant India), by making India a hub for advanced smart mobility solutions, Make-In-India for the world. Our manufacturing operations are scheduled to begin in Talegaon, Maharashtra in the year 2025.”With a starting price of Rs 10.99 lakh (ex-showroom), Hyundai launched the eagerly awaited Creta Facelift in India on January 16. Along with many interior upgrades and a new engine option, the facelift gives the car a more robust exterior look. Over 70 safety features—36 of which are standard—are included in the recently redesigned Creta. TPMS, electronic stability control, an all-wheel disc brake system, and six airbags are a few of them. The highest-spec versions come with 19 Level 2 ADAS features (Hyundai SmartSense).The 1.5-litre naturally aspirated (NA) and 1.5-litre CRDi diesel engine options for the SUV remain the same. However, a new 1.5-litre turbocharged GDi petrol engine is now offered as an option in this lineup. The new 1.5-litre turbocharged GDi petrol unit delivers 158bhp and 253Nm of performance numbers.