Quick Wrap: Nifty Auto Index rises 1.50%
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Mint
3 hours ago
- Mint
M&M bets on multi-powertrain platform to beat rivals, meet emission norms
Next Story Ayaan Kartik M&M joins Tata Motors in securing access to a technology platform that can accommodate multiple powertrains. Tata Motors has access to Modular Longitudinal Architecture technology through its arm Jaguar Land Rover. The MLA platform can accommodate petrol, diesel, plug-in hybrid and EVs. Mahindra Group Managing Director and Chief Executive Officer Anish Shah. Gift this article Mumbai: Mahindra & Mahindra Ltd will develop new petrol, diesel and electric vehicle models on one common technology platform that will give it the flexibility to meet global emission norms and adjust its products based on market demand, as competition in the world's third-largest automobile market intensifies. Mumbai: Mahindra & Mahindra Ltd will develop new petrol, diesel and electric vehicle models on one common technology platform that will give it the flexibility to meet global emission norms and adjust its products based on market demand, as competition in the world's third-largest automobile market intensifies. While revealing its new vehicle platform NU_IQ, the company on Friday unveiled design prototypes of four new sports utility vehicles (SUVs) that will be based on the platform. These SUVs based on the new platform will begin arriving in the markets in 2027. The automaker, however, did not commit to the launch of hybrid vehicles just yet. Mahindra & Mahindra (M&M) joins Tata Motors in securing access to a technology platform that can accommodatemultiple powertrains. Tata Motors has access to Modular Longitudinal Architecture (MLA) technology through its wholly-owned British subsidiary Jaguar Land Rover. The MLA platform can accommodate petrol, diesel, plug-in hybrid and battery electric vehicles. Vehicle platforms or architecture are the foundational structure of the car with major components and systems in place on which different models can be developed. The new set of announcements was part of the company's annual event held on 15 August, with this year's edition in the country's financial capital Mumbai. 'Hybrid vehicles are not part of the architecture yet. This platform is currently focused on petrol, diesel and electric vehicles," Rajesh Jejurikar, executive director and chief executive officer (auto and farm sector), M&M, told reporters on the sidelines of the launch. 'Our earlier stance on electric vehicles remains unchanged, which is that if there is customer demand, we will bring hybrid vehicles." Mahindra and Mahindra's share price has increased by 6% so far in 2025, as against a 4% rise in the benchmark Nifty50. Mahindra is locked in a fierce battle with Hyundai Motor India and Tata Motors to occupy the second spot in India's automobile pecking order. So far in FY26, Mahindra has been able to beat Hyundai to the second spot in terms of wholesales in all four months, but it in retail sales in July. Also Read | Mahindra looks to acquire 350-acre land parcel in Igatpuri The Indian subsidiary of the Korean giant announced at the January-March earnings call that it will launch hybrid vehicles and soon roll out 26 vehicles in the country to take back market share and hold on to the number two position, which it has occupied since the financial year 2009. Anish Shah, group CEO at Mahindra and Mahindra, said that after years of dominance by foreign carmakers, domestic companies are finally making their mark. 'There was a time not long ago, global automakers dominated the Indian roads. Today, the tide has turned. Indian companies like Mahindra are at the forefront of technology, scale and ambitions," Shah said at the gathering. His comments come after Mahindra dislodged Hyundai Motor India from the second position in the first quarter of the current financial year. Subhabrata Sengupta, partner at Avalon Consulting, noted that the biggest advantage that Mahindra gets from the new platform is the ability to hedge according to market needs. 'A platform where ICE (internal combustion engine) and EV can be developed gives the company the flexibility to react quickly to market trends. If EVs pick up more, the company can move production to meet demand quickly, and vice-versa," Sengupta said. The development of a multiple powertrain model also comes at a time when the new emission norms, CAFE 3, are scheduled to come into force in 2027. Jejurikar emphasised that the new tech platform will allow it to be flexible with production of vehicles, enabling it to meet emission norms effectively. CAFE 3 (Corporate Average Fuel Efficiency) norms are India's upcoming regulations aimed at reducing carbon dioxide emissions from vehicles. These norms will set a cap on the average CO2 emissions of a carmaker's entire fleet, pushing them to produce more fuel-efficient vehicles. 'The new platform will allow the company to accommodate production requirements quickly between diesel, petrol and EVs with CAFE norms in mind. Currently, most of the Mahindra sales are coming from diesel models which are fuel-guzzling," Sengupta added. In FY25, 77% of Mahindra's total 551,000 sales in the domestic market were diesel models. With the Bureau of Energy Efficiency (BEE) finalising the CAFE 3 norms, automakers are in talks with the government to seek relaxations, saying that the proposed targets are too stiff. Jejurikar remained unfazed about the looming threat of strict implementation of fuel efficiency norms in the country and different regulations in foreign markets where Mahindra is looking to establish its presence using its current products and new line-ups for 2027. 'We will follow a phased approach to enter different markets. In the first phase, we will enter our known markets such as South Africa and Australia followed by further expansion to new markets over the next years," he said. To accommodate development of electric and ICE vehicles on the same platform, the company will utilize a capacity of 240,000 units from 2027at its Chakan plant for the production of newly-designed vehicles. To increase exports, Mahindra is looking to introduce its India-made electric cars in the UK and other global markets. Topics You May Be Interested In Catch all the Business News , Corporate news , Breaking News Events and Latest News Updates on Live Mint. 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Economic Times
5 hours ago
- Economic Times
Dow hits record high at open on rate-cut optimism, UnitedHealth boost
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
India.com
8 hours ago
- India.com
This company shares in focus as company forms JV with Taiwan-based firm
ओमांश इंटरप्राइजेज लिमिटेड का शेयर बना रहा मालामाल Shares of Pavna Industries Limited will be in focus when markets open on Monday as the company has informed exchanges that it has formed a joined venture with with Taiwan-based SmartChip Microelectronic Corporation. The company said that the new joint venture company will make electronic components for the automobile industry and others. 'The proposed Joint Venture (JV) Company to carry on the business of inter alia making electronic components for the automobile industry (ICE & EV) and for other industries like hardware for cupboard/door locks etc. in residential/commercial industries, aero, medical etc.,' the company said in the filing. As per the information share, the proposed shareholding structure for the joint venture underscores Pavna Industries Limited's significant control, with the company holding a majority stake of 80 per cent. The Taiwan-based company will own the remaining 20 per cent. The authorised and paid-up capital of the company shall be Rs 5,00,000 divided into 50,000 equity shares of Rs 10 each. 'The Equity Shares of proposed Joint Venture Company will be subscribed at a price of Rs. 10/- each by Pavna Industries Limited and Smartchip Mircoelectronic Corporation,' it further stated. The counter ended in the red in the last trading session, falling 2.03 per cent to Rs 410.35 compared to the previous close of Rs 418.85. This is part of a larger trend in the stock's performance. The 52-week high of the stock is Rs 759.55, hit on October 14, 2024, and the 52-week low is Rs 295.20. These figures provide a broader perspective on the stock's performance, indicating its potential for growth and the level of risk associated with it. According to the BSE Analytics, the stock has delivered a return of 86 per cent in two years. However, it has corrected 21 per cent in one year and 69 per cent so far this year. Earlier, benchmark stock indices Sensex and Nifty ended flat in a highly volatile trade on Thursday. Extending gains to the second day, the 30-share BSE Sensex climbed 57.75 points or 0.07 per cent to settle at 80,597.66. The 50-share NSE Nifty rose by 11.95 points or 0.05 per cent to 24,631.30.
