Weekend Drive by Hormazd Sorabjee: It's got sporting spirit
A Volkswagen range without a Golf is like idli without sambar. It's been the staple model of the German automaker's line-up for 50 years and is possibly the brand's most iconic model since the Beetle. The Golf lives up to the Volkswagen name: People's Car. More than 35 million Golfs have been sold worldwide—except in India. Until now.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Indian Express
25 minutes ago
- New Indian Express
India's EV policy: Can it deliver?
To encourage global brands to invest under the Scheme, they will be allowed to import Completely Built-in Units (CBUs) of e-4W with a minimum Cost, Insurance and Freight (CIF) value of $35,000 at reduced customs duty of 15% for five years from the application approval date. To avail this important benefit of the scheme, manufacturers would be required to make minimum investment of Rs4,150 crore. The maximum number of electric four-wheelers allowed to be imported at the reduced duty rate is capped at 8,000 units per year. The carryover of unutilised annual import limits would be permitted. The maximum benefits from this duty reduction are topped at Rs6,484 crore or the actual investment amount, whichever is lower. Manufacturers are also required to meet certain criteria including the need to achieve an annual turnover of at least Rs2,500 crore by the second year, Rs5,000 crore by the fourth year, and Rs7,500 crore by the fifth year. Additionally, they must reach local value-addition targets of 25% by the third year and 50% by the fifth year. They are also required to be of a certain size. The Global Group's Revenue (from automotive manufacturing) has to be at least Rs10,000 crore and if the applicant is an investment company, the revenue should not be less than Rs3,000 crore. The application widow under the scheme is likely to open soon, and will remain open for 120 days. However, the government can reopen the window as and when required till March 15, 2026. Union heavy industries minister H D Kumaraswamy has said that global players including Mercedes, Volkswagen-Skoda, Hyundai, and Kia have shown interest in applying under the EV policy.
Economic Times
5 hours ago
- Economic Times
China says willing to improve communication with countries on rare earth controls
TIL Creatives China says willing to improve communication with countries on rare earth controls China's commerce ministry said on Saturday that it has approved a certain number of compliant rare earth export applications and will continue to refine its examination and approval process. The ministry also expressed willingness to enhance communication with other countries over export controls, according to a statement on its website, Reuters reported. The announcement comes at a time when Indian automakers are facing worsening shortages of rare earth magnets, critical components for electric vehicles (EVs) and other high-tech industries. According to Bloomberg, Beijing has turned down at least two recent applications for India-bound shipments of rare earth magnets, raising fears of an imminent disruption in Indian automobile production. Industry and government officials told Bloomberg that while shipments to the German and U.S. units of a global firm were cleared, the same request to its Indian arm was rejected. Since April 4—when China began enforcing tighter curbs on exports of seven rare earth elements—supplies to Indian auto parts manufacturers have been stuck at Chinese new controls require importers to certify that the magnets will not be used for defense purposes or re-exported to the U.S. The new end-user certification process can take at least 45 days and is now facing a global per the Bloomberg report, at least 30 Indian applications endorsed by the Indian government are still awaiting Chinese approval, while over 10 applications from other countries have reportedly been cleared. According to a May 28 presentation by the Society of Indian Automobile Manufacturers (SIAM), no Indian applications have received final approval from China's commerce ministry despite many having secured embassy endorsements. 'Even if one magnetised part is missing, the vehicle cannot be built,' SIAM warned in the presentation, adding that some Indian firms may consider shifting operations to China if the supply crunch continues. The squeeze has heightened concern among Indian automakers. 'The rare earth situation is a very difficult one,' Bajaj Auto's Executive Director Rakesh Sharma told analysts. 'Supplies and stocks are getting depleted as we speak, and if there's no relief in shipments, production will be seriously impaired in July.'To address the growing crisis, a delegation of Indian businesses is planning to visit Chinese counterparts this month with help from the Indian Embassy in Beijing. The embassy has reached out to China's commerce ministry, seeking expedited clearance of pending applications.A meeting was recently held at the Indian Prime Minister's Office to discuss options for resolving the impasse. Indian officials have advised manufacturers to explore alternative supply chains and consider local refining capacities—though such solutions are long-term in the Indian government is also encouraging firms to explore ferrite magnets or magnet-free designs, though these come with compromises in cost and performance. As a result, some companies are considering stop-gap measures such as importing motors or shifting production to fossil-fuel-powered vehicles. With inputs from agencies
Time of India
7 hours ago
- Time of India
China says willing to improve communication with countries on rare earth controls
China's commerce ministry said on Saturday that it has approved a certain number of compliant rare earth export applications and will continue to refine its examination and approval process. The ministry also expressed willingness to enhance communication with other countries over export controls, according to a statement on its website, Reuters reported. The announcement comes at a time when Indian automakers are facing worsening shortages of rare earth magnets , critical components for electric vehicles (EVs) and other high-tech industries. According to Bloomberg, Beijing has turned down at least two recent applications for India-bound shipments of rare earth magnets, raising fears of an imminent disruption in Indian automobile production . Industry and government officials told Bloomberg that while shipments to the German and U.S. units of a global firm were cleared, the same request to its Indian arm was rejected. Since April 4—when China began enforcing tighter curbs on exports of seven rare earth elements—supplies to Indian auto parts manufacturers have been stuck at Chinese ports. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villa For Sale in Dubai Might Surprise You Villas in Dubai | Search ads Learn More Undo These new controls require importers to certify that the magnets will not be used for defense purposes or re-exported to the U.S. The new end-user certification process can take at least 45 days and is now facing a global backlog. As per the Bloomberg report, at least 30 Indian applications endorsed by the Indian government are still awaiting Chinese approval, while over 10 applications from other countries have reportedly been cleared. According to a May 28 presentation by the Society of Indian Automobile Manufacturers (SIAM), no Indian applications have received final approval from China's commerce ministry despite many having secured embassy endorsements. Live Events 'Even if one magnetised part is missing, the vehicle cannot be built,' SIAM warned in the presentation, adding that some Indian firms may consider shifting operations to China if the supply crunch continues. The squeeze has heightened concern among Indian automakers. 'The rare earth situation is a very difficult one,' Bajaj Auto 's Executive Director Rakesh Sharma told analysts. 'Supplies and stocks are getting depleted as we speak, and if there's no relief in shipments, production will be seriously impaired in July.' To address the growing crisis, a delegation of Indian businesses is planning to visit Chinese counterparts this month with help from the Indian Embassy in Beijing. The embassy has reached out to China's commerce ministry, seeking expedited clearance of pending applications. A meeting was recently held at the Indian Prime Minister's Office to discuss options for resolving the impasse. Indian officials have advised manufacturers to explore alternative supply chains and consider local refining capacities—though such solutions are long-term in nature. Meanwhile, the Indian government is also encouraging firms to explore ferrite magnets or magnet-free designs, though these come with compromises in cost and performance. As a result, some companies are considering stop-gap measures such as importing motors or shifting production to fossil-fuel-powered vehicles. With inputs from agencies
