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Yahoo
7 days ago
- Automotive
- Yahoo
Detroit Grand Prix draws fans, families from far and wide
When the doors opened on a full People Mover car at the Millender Center station in downtown Detroit, the unmistakable whine of race cars enveloped the space like a thunderclap. The passengers, some of whom had been looking down at their phones or talking amongst each other, stopped at the sound and looked toward the windows facing Jefferson Avenue. After all, people love cars, said Stephanie Brinley, associate director of Auto Intelligence at S&P Global Mobility. While the race has undergone many changes since its first run in 1982, there is still a strong draw to the track – and the city – that inspires residents across the state, even if they wouldn't consider themselves car enthusiasts. More: Detroit Grand Prix signs new contract through 2028 'Is this race important to Detroit? Yes, it is,' Brinley said. 'Because it keeps coming back. The city loves it.' The Detroit Grand Prix roared across downtown streets on Sunday, June 1, with the featured NTT IndyCar race won by Kyle Kirkwood before the organizers announced the event would stay in Detroit through at least 2028. The Grand Prix draws more than 100,000 people each year to downtown Detroit, according to the organizers. In the third year since making the switch from Belle Isle, the Detroit Grand Prix likely has more attendance than ticket sales can account for. Up in the corporate suites, Paul Waatti, director of industry analysis for AutoPacific, pointed out there were far more spectators watching the race from the parking structures than in the paid stands. 'Belle Isle is literally an island. The economic impact to Detroit may be negligible, but it is right downtown,' he said, of the move. 'You don't have to bypass the city to get to the race.' Detroit resident Lauryn Barlow, a traveling bartender, rates the Christmas Tree Lighting as the most attended event she works, with the Grand Prix falling slightly behind the Detroit Auto Show. As for those she served this weekend, she said most spectators arrived from out of town. 'Everybody that I talk to is either from Ohio, Wisconsin," shes said, "and I was just like, "Well dang, where's everybody from Detroit?'' Families congregated on Woodward Avenue and in Hart Plaza to enjoy free events throughout the weekend and the cooler weather. This is the third Grand Prix for Aaron Norton, who drove from Owosso with his son Evan, an incoming freshman of Michigan State University. 'It's something to do,' he said. 'I just drove an hour and forty minutes to get here. My other kids didn't want to come.' The two walked through to Hart Plaza to admire GM's latest vehicles and ask questions of the product specialists on staff. During their stroll, they caught a bit of the race. 'I've learned a lot watching this, and Googling to see how fast they're going. I'm blown away with how much they're worth,' Norton said. 'The safety gear, the halo, is like $17,000 just to protect their head. The crazy prices of the motor. I never knew that.' Sponsoring the race serves a dual purpose for automakers like Honda and General Motors. In addition to seeding goodwill at the community level and showcasing vehicles around the city in an open-air showroom, the race itself acts as a proving ground, S&P Global Mobility's Brinley said. Participating automakers calculate vehicle performance on the track, such as engine fatigue, steering, suspension, lift and driving dynamics, and apply what they learn to the vehicles they retail. 'Not every street car needs to drive like a race car, but lessons learned about performances and tolerances can be applied to street cars,' she said, adding that tire manufacturers also learn about tire wear and performance from extreme racing. Sitting in the center of the track and host to many media events surrounding the Grand Prix is the Renaissance Center, the soon to be former headquarters of GM, which is relocating this year to the new Hudson's Detroit building on Woodward Avenue. While the RenCen's massive office and commercial retail space remains an icon of the city's skyline, it no longer serves its original purpose, Waatti said. Because of GM's broad footprint, with offices across the U.S. as well as other countries, maintaining such a large property no longer makes good business sense. 'The Detroit Grand Prix is a powerful showcase of GM's performance brands and a celebration of Detroit's comeback story. That's what makes GM's decision to leave the RenCen all the more bittersweet,' he said. 'While the race energizes the riverfront and spotlights GM's roots, the company itself is stepping back from the landmark that defines both.' Detroit resident Travis Foster said he's 'heartbroken' that it would be GM's last time hosting the event from its RenCen headquarters. 'As a native Detroiter, I'm really hoping that at the last minute someone is either going to have a change of heart or there's some type of financial decision that will make them at least give that a second thought,' he said. 'This building is iconic when it comes to the city of Detroit. These buildings are supposed to be here, it's meant to be here, it deserves to be here, and we need it here.' Foster, a federal employee, considers the Detroit Grand Prix a pivotal part of the city's summer event schedule. He pointed to the diversity in the crowd and said the race shows off the beauty of downtown and invite tourists and other Michigan residents into the fabric of the community. Embracing change is necessary for GM's success and the city of Detroit, according to Anthony Abbott, a retired GM employee from Farmington Hills who has attended the Detroit Grand Prix 10 times. 'Belle Isle was a beautiful place to have a race, it almost seems like it was built to have a race. But I really enjoy it down here better,' he said. 'And you can watch the event from the garages and see so much.' For Abbott, changes to the Renaissance Center could improve the riverfront landscape and open up more space for future Grand Prix events. 'Embrace change. GM moved down here, I forgot how many years ago, and rehabbed the towers, did a really great job with it. They're not leaving, they're just moving down the street. They're going to blow up a few towers and really open it up,' he said. 'It's iconic, it still will be – just with one or two less towers.' Christian Romo contributed to this report. Jackie Charniga covers General Motors for the Free Press. Reach her at jcharniga@ This article originally appeared on Detroit Free Press: Detroit Grand Prix draws fans, families from far and wide
Hindustan Times
26-05-2025
- Automotive
- Hindustan Times
Matter Aera gets lifetime battery warranty. Check details
The Matter Aera comes with a 5 kWh, IP67-rated battery that offers a certified range of up to 172 kilometres (claimed) on a single charge. (Tej Patel for HT Auto) Check Offers The Indian electric two wheeler startup, Matter has introduced a lifetime battery warranty for its electric motorcycle, the Matter Aera. The company claims that this marks the first time such a warranty has been offered in India's electric two-wheeler segment. The action is aimed to mitigate the second biggest concern to electric vehicle owners—battery life and battery replacement costs. The battery, which is the most expensive component within an electric vehicle, will be covered for the life of the Aera. Typically, EV batteries come with warranties ranging from three to eight years. A lifetime warranty changes this standard significantly and may impact how riders evaluate the long-term cost of ownership. Matter Aera: Battery tech Matter states that its ability to offer this warranty stems from its decision to design and manufacture key components in-house, including the battery pack and Battery Management System (BMS). The systems have reportedly undergone extensive testing across various terrains and climates within India. The company claims that this in-house control allows for higher durability and performance consistency, which supports the lifetime coverage offering. Also Read : Matter Aera electric motorcycle launches on Flipkart with attractive discounts The Aera features a liquid-cooled battery—a less common feature in India's two-wheeler EV market. Liquid cooling systems assist in regulating temperature, which can help create some conditions to extend battery life, especially in high ambient temperature environments and intense usage. The system is designed to help sustain performance and reduce battery heat stress. Matter Aera: Specs Matter Aera introduces a manual gearbox to the electric motorcycle segment, featuring a 4-speed transmission paired with three riding modes, namely Eco, City and Sport. This setup enables varied ride combinations, aiming to appeal to riders who want a more dynamic experience than conventional EVs typically offer. Also watch: Matter Aera 5000+ review: Can India's first geared electric motorcycle be a gamechanger? Another notable feature is the liquid-cooled powertrain, which allows the motor and battery to maintain performance in hot conditions. ht The bike can accelerate from 0 to 40 kmph in under 2.8 seconds. Check out Upcoming EV Cars in India, Upcoming EV Bikes in India. First Published Date: 26 May 2025, 11:58 AM IST
Economic Times
15-05-2025
- Business
- Economic Times
Why is the stock market rising today? Sensex surges over 1,300 pts, Nifty crosses 25,100; 6 factors behind the rally
Sensex and Nifty surged over 1.5%, buoyed by hopes of a zero-tariff trade deal between India and the U.S., as investors cheered gains across financial, auto, and IT sectors. Indian markets surged, with Sensex and Nifty both rising over 1.5%, fueled by optimism surrounding a potential zero-tariff trade deal with the U.S. Lower oil and gold prices, coupled with strong FII inflows and a weakening dollar, further boosted investor confidence. Cooling inflation data also raised hopes for a potential rate cut by the Reserve Bank of India. Tired of too many ads? Remove Ads Here are five key factors driving the rally: Tired of too many ads? Remove Ads 1) Zero-tariff trade deal talk with the US 2) Crude Impact 3) Sharp drop in gold prices Tired of too many ads? Remove Ads 4) Strong FII inflows 5) Weakening US dollar 6) Cooling inflation boosts rate cut hopes Indian benchmark indices Sensex and Nifty erased early losses and surged over 1.5% on Thursday, supported by gains in financial, auto, and IT stocks. Investor sentiment improved following reports of a potential zero-tariff trade deal between India and the of 2:14 PM, the BSE Sensex was up 1,366 points, or 1.68%, at 82,702, while the Nifty 50 gained 434.5 points, or 1.76%, to reach 25, Nifty Financials rose 1.5%, Auto 2.2%, IT 1.2%, and Metal 1.7%. Broader markets also saw gains, with both the small- and mid-cap indices up around 0.6% market capitalisation of all BSE-listed companies surged by Rs 5 lakh crore, reaching Rs 439.86 lakh a major development from Doha on Thursday, US President Donald Trump revealed that India has offered a trade deal to the United States, which would see "basically zero tariffs" on a broad range of American goods, reported Reuters."India offered US a deal, basically zero tariffs," the Republican leader said during the second leg of his three-nation West Asia latest comments follow his earlier remarks on April 30, when he said that talks with India on tariff issues were 'going great' and expressed confidence in reaching a final deal soon. Speaking at an event in Michigan, he noted, 'India tariff talks are going great, think we'll have a deal soon.'According to a report by Reuters on May 9, India had proposed to reduce its average tariff differential with the US from around 13% to under 4%—a 9-percentage-point drops. This would be among the most comprehensive moves by India to align its trade policies with major global prices fell by nearly $2 on Thursday amid expectations of a potential U.S.-Iran nuclear deal, which could ease sanctions and increase global crude dropped 3.3% to $63.93 per barrel, while WTI crude fell to $61.05. Lower oil prices help ease inflation concerns and reduce India's import bill, supporting domestic June futures on MCX fell to a one-month low of Rs 90,890 per 10 grams—down 1.5% from Wednesday's close and over 8.5% from its recent peak. The correction comes amid easing geopolitical tensions, reduced demand for safe-haven assets, and a focus shifting to U.S. economic data and Federal Reserve gold prices often indicate reduced risk aversion among investors, which supports higher allocations to equities and reflects improving market institutional investors have poured nearly Rs 50,000 crore into Indian equities since April 15, marking net inflows in 19 of the last 20 sessions. This trend follows a three-month phase of persistent dollar index fell 0.29% to 100.74 on Thursday, down significantly from 109.88 in early February. A weaker dollar tends to benefit emerging markets like India by encouraging foreign inflows and strengthening the as earlier reported, U.S. consumer inflation rose just 0.2% in April, lower than the 0.3% expected by economists, easing concerns over further rate hikes by the Federal the same time, India's retail inflation dropped to 3.16% in April—its lowest level in six years and below the Reuters estimate of 3.27%. The data has raised expectations of a potential rate cut by the Reserve Bank of India, which could further support economic growth and market momentum.
Time of India
13-05-2025
- Business
- Time of India
Kotak revises transaction fees on these credit cards: Check latest fee on Utility, Wallet Loads, and more from June 1, 2025
Kotak Mahindra Bank has announced significant updates to its credit card charges, effective from June 1, 2025. These changes include revised fees for standing instruction failures, dynamic currency conversion, utility spends, education payments, wallet loading, online skill-based gaming, fuel transactions, and a new method for calculating the Minimum Amount Due (MAD). Standing Instruction Failure Standing Instruction Failure / Auto-debit return fee (includes NACH, ECS, Auto Debit): a Standing Instruction Failure or Auto-debit return—whether through NACH, ECS, or Auto Debit—will attract a fee of 2.0% on the bounced amount, with a minimum charge of Rs 450. The maximum fee applicable for such failures has been capped at Rs 5,000. Also read: Bank of Baroda, Kotak Mahindra Bank revise FD interest rates: Check latest rates in May 2025 Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Ads By Google Ad will close in 19 Skip Ad by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Chuck Norris: If You're Over 60, Avoid These 3 Foods Like The Plague Roundhouse Provisions Learn More Undo Minimum Amount Due (MAD) The MAD will be calculated as 1% of all purchase transactions and cash advances, plus 100% of any EMIs, finance charges, applicable fees, and taxes. This amount will be subject to a minimum of Rs 100, or up to the Total Amount Due (TAD), whichever is lower. The MAD will be displayed in the summary section of your monthly statement. Dynamic Currency Conversion (DCC) fee A DCC fee of 3.5% will apply to all Kotak credit cards, except for select variants. The fee is reduced to 2% for Privy League Signature (Paid Variant), White Reserve, and Kotak Infinite cards. It is completely waived for Kotak Solitaire Credit Card. The DCC fee applies to all transactions conducted in Indian currency at international locations or with merchants registered overseas but located in India. Free unlimited airport lounge access, 1:1 Air India air miles conversion, and more on Kotak Mahindra Bank Solitaire credit card Live Events Fee on Utility Spends A fee of 1% will be charged on cumulative utility spends that exceed the defined threshold per statement cycle. This fee is not applicable to the following credit cards: White Reserve, Kotak Solitaire, Kotak Infinite, Kotak Signature, and Myntra Kotak Credit Card. Fee on Education Payment A 1% transaction fee will be applicable on all education payments made through third-party applications. This fee will not apply to White Reserve, Kotak Solitaire, Kotak Infinite, Kotak Signature, and Myntra Kotak Credit Cards. Fee on Wallet Loading A 1% fee will be charged on cumulative wallet loading (adding money from credit card to wallet) transactions exceeding Rs 10,000 per statement cycle. This fee is not applicable to White Reserve, Kotak Solitaire, Kotak Infinite, Kotak Signature, and Myntra Kotak Credit Cards. Fee on Online Skill-Based Gaming A 1% fee will be levied on cumulative online skill-based gaming transactions exceeding Rs 10,000 per statement cycle. This fee is not applicable to White Reserve, Kotak Solitaire, Kotak Infinite, Kotak Signature, and Myntra Kotak Credit Cards. Fee on Fuel Transactions A 1% fee will be applicable on cumulative fuel spends exceeding the specified threshold per statement cycle. This fee will not apply to White Reserve, Kotak Solitaire, Kotak Infinite, Kotak Signature, IndianOil Kotak Credit Card, and Myntra Kotak Credit Card.
Irish Independent
13-05-2025
- Automotive
- Irish Independent
Ford issues warning to Kuga PHEV owners to avoid charging battery following technical fault
Ford said only a small number of vehicles worldwide have reported an issue with battery thermal venting, with no reported issues in Ireland. Lisa Brankin, Chair and Managing Director of Ford of Britain and Ireland said: 'To all of our affected customers, we're really sorry that an issue has occurred with the Ford Kuga PHEV battery. "Our engineers are working closely with the supplier of the affected part, and are putting all of their resources into perfecting a software update to remedy the issue.' Ms Brankin said the software update will be available within 10-15 days and will give the Battery Energy Control Module enhanced capability to detect cell anomalies indicative of separator damage. It will also provide advanced warning to owners of a high-voltage battery issue before thermal venting occurs. In the event of anomaly detection, dealers will replace the vehicle's high voltage battery pack, the company said. Ford is asking all Kuga PHEV drivers to use their cars in 'Auto EV' mode and avoid charging until the software update is installed by their Ford dealer and completed. It said resolving this issue speedily and expertly is its priority, and it will continue to monitor vehicles in operation while engineers and software teams work on the issue. If customers have any concerns about their Kuga PHEV, they can contact their local dealership for reassurance, and to book in for a complimentary 'Kuga PHEV Check-Up'* to reassure them that the vehicle is safe and road-worthy when in Auto EV mode. Ford said it also extending the warranty for high voltage components to 10 year/240,000km, covering the high voltage battery, for all affected Kuga PHEVs in Europe. If customers require further assistance or would like to discuss how they are being affected by this recall notification, they can contact Ford's customer relationship team on 1800 771 199 between 9am and 5pm. 'Ford is committed to bringing a great lineup of hybrid and electric vehicles to market in Ireland helping to serve our customers' needs, reduce emissions and being there for our dealers and communities long into the future,' the automobile company said. "We are committed to resolving this issue as quickly as possible for our customers and thank you for your patience and trust in us.'
