ETAuto’s Post

#Predictions and forecast are mostly right. Mentioned in early post as #Chennai, #Tamilnadu might be the preferred choice. If it would happen, Kudos to #Tamilnadu government. Vetnamese #electric carmaker #VinFast believed to be actively looking at the #Ford India plant in #Chennai to kick off its India operations in a top-down approach with completely built imported units and knocked-down kits before moving to local #manufacturing. #business #EV #electriccars #VinFast

Salestors, a new carmaker is eyeing the Indian market. Vietnam's largest corporation, Vingroup's electric vehicles arm, VINFAST is planning to set up manufacturing in either Tamil Nadu or Gujarat. This will make VinFast the first Vietnamese automaker in the country. It set up its first facility in North Carolina, the US, in July this year. VinFast is expected to offer affordable and value for money EVs with its facility in India. Last month, its valuation shot up to $191 billion, making it the third largest automaker in the world after Tesla and Toyota Motor Corporation. But the stint got over soon and its valuation crashed to $25.7 billion. Find out more about the Vietnamese automaker, deemed as Tesla's rival, in today's #SalestorsNews150, news in 150 words. #SalestorsPostOfTheDay #salestors #tesla #toyota #electricvehicles #evs #automotiveindustry VINGROUP - Vietnam https://lnkd.in/dvXfNCV2

Maruti Suzuki India Limited Suzuki, one of India's leading automobile manufacturers, is taking strategic steps to strengthen its position in the electric vehicle sector. The company is planning to export lithium-ion cells worth `10 billion, highlighting its focus on scalability and localization. Maruti Suzuki is already manufacturing lithium-ion cells for hybrid vehicle batteries, and these cells have already begun to be exported. To further its commitment to localization and scalability, the company is now planning to set up a Battery Electric Vehicle (BEV) plant with cell-level localization. The production of these battery packs is being carried out by TDS Lithium-Ion Battery Gujarat Private Limited, a joint venture between Toshiba, DENSO, and Suzuki Motorcycle India Private Ltd. This move further underscores Maruti Suzuki's dedication to the rapidly evolving landscape of electric vehicles. With these strategic moves, Maruti Suzuki is positioning itself as a key player in the electric vehicle space and is paving the way for a greener future. #MarutiSuzuki #ElectricVehicles #EVIndustry #LithiumIonCells #Scalability #Localisation #BatteryElectricVehicle #BEV #TDSLithiumIonBattery #Gujarat #JointVenture #Toshiba #Denso #SuzukiMotorCorp #Innovation #Sustainability #CleanEnergy #FutureOfTransport #GreenTech #EVNews

Salestors, a new carmaker is eyeing the Indian market. Vietnam's largest corporation, Vingroup's electric vehicles arm, VINFAST is planning to set up manufacturing in either Tamil Nadu or Gujarat. Find out more about the Vietnamese automaker, deemed as a rival to Tesla and Toyota Motor Corporation, in today's #SalestorsNews150, news in 150 words. #SalestorsPostOfTheDay #salestors #tesla #toyota #electricvehicles #evs #automotiveindustry VINGROUP - Vietnam

It's an interesting development for Indian automotive industry - a collaboration between a $23bn Indian business group manufacturing, dealing in commodities from steel, energy, cement to paints with a mega automotive Chinese corporation. India’s biggest steel producer JSW and Chinese carmaker SAIC Motor JV (JSW & Indian investor will own 51%) will build and sell MG-brand electric vehicles. They plan to invest $5bn by 2030 to make 1 million EVs targeting a 33% market share. JSW Chairman envisions it a "Maruti moment of EVs". MG Motor India last year sold 56,902 cars with 25% sales coming from EVs. Hector best selling model sells around 1800, Astor 1000, Comet EV920, ZSEV580 per month respectively. SAIC Motor on other hand a $110bn powerful Chinese co. sold 5.02 mil. vehicles in 2023 It sold record 1.2 mil. units in overseas sales propelling China to become the world's largest exporter of automobiles. (SAIC co website). What would Maruti moment in EVs call for: A value for money car for the masses.eg. In today's price point it could be an Electric Swift at Rs.7lakh. Enablers would be a large scale local supplier base to have at least 80% localisation. Without batteries and Powertrains localisation it's not possible to meet price target. A massive dealer, aftersale network pan India (With just 270 dealerships MG has a long way to go to match 1400 dealers of Maruti). With SAIC technology and R&D an India specific model can be created. No one can beat the Chinese in exploiting market opportunities. Smartphone success story is a case in point. Chinese makers Xiaomi, Vivo, Realme, Oppo cracked the highly competitive Indian market loading phones with features (camera, music, battery life, ganes, aps). Huge ad spends, sub brands for different segments, financing options, hitting price points of Rs. 10,000-50,000 for a range of phones is success mantra. Maruti's time tested success formula has been: -Create the best value for money products -Deepen market penetration by dealerships, service partners -Move quickly to capitalise on market opportunities eg SUVs, Taxis, Used cars No one understands product-market fit better than Maruti. Eg SUV share increase from 9% in 2021 to over 25% in 2023. They would probably like to replicate this with EVs. However EVs need solid technology & new supply chain. Besides EVs are shifting rapidly with software driven vehicles, evolving battery and motor tech and innovative business models. Maruti Suzuki meanwhile is not sitting idle. It plans a capex of approx. Rs 1.25 lakh crore. This investment aims to expand the product lineup from 17 to 28 models and increase annual production capacity to 4mil. units by 2031. JSW MG needs a innovation driven business model mindset. (JSW entering B2C first time). Taking on Maruti, Hyundai with just a market share increase mindset may not get them to where they want to be... Maruti moment may be a bit far away. .