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Made-in-India electric cars from Mercedes-Benz soon as it bets big on EVs
Posted on 20th June 2018
German automaker, Mercedes-Benz is betting big on electric cars globally and also believes that electric cars will play a crucial role as India gets ready to adapt to future of mobility. A report on TOI confirmes that Mercedes-Benz has plans to manufacture electric cars from its plant in Chakan, Pune. The company has already confirmed that it will launch on BSVI compliant diesel engine cars and SUVs in India and now expect many a range of hybrid and electric cars from Mercedes-Benz in India soon.

Mercedes-Benz is the number one luxury automaker in India and strongly believes that Indian will be one of the key markets for EVs in a next few years as government's focus in reducing oil import bill and reduce the pollution will further advance the rollout of eco-friendly vehicles. Mercedes-Benz India is also the first carmaker in India to launch BS-VI compliant electric cars.

Michael Jopp, VP Sales and Marketing, Mercedes-Benz India had said, "going forward, all the diesel engines we plan to launch in the country will be BS VI compliant only. The government deadline of April 2020 does not pose any challenge for us as we are way ahead of that timeline."

The report on TOI further quotes Jopp saying that Mercedes-Benz India will be investing in local manufacturing on electric vehicles and is a part of its long-term strategy in India. "When it happens, we would certainly manufacture them at our plant in Chakan, alongside the combustion engine vehicles," he said. In order to quickly adapt to electric vehicles, Mercedes-Benz says it's important for the government to provide a good eco-system and boost charging infrastructure in the country.

The company also says that initially, the import duty for hybrid and electric cars in India should be 'lenient' to achieve volumes which will further encourage many companies to invest in local manufacturing.

At the Auto Expo 2018, Mercedes-Benz showcased its EQ electric SUV concept in India and will start its global sales in 2019. The company also has many hybrid and plug-in hybrid vehicles in its portfolio globally and also SMART brand that deals with small electric cars.

In 2017, Mercedes-Benz India sold a total of 15,330 units to record 16 per cent sales growth over 2016. In the first quarter of the current year, the company has already sold 4,556 units, a 25 per cent growth over the same period of last year.

Related Companies: Mercedes Benz India Limited   

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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019

Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.

Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade.


Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019
The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point.

On a weekly basis, the local unit slumped by 32 paise.


LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019
In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19.

Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai).


Apollo Hospitals rules out further stake sale
Posted on 13th September 2019
Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here.

World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019
In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted.

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