Morning Daily - 2020-05-27

ETAuto Newsletter | Wednesday, May 27, 2020

Daily Newsletter
Policy | Industry | Passenger Vehicle | Commercial Vehicle | Two Wheelers | Aftermarket | People Movement | Auto Components
Stay Safe
Dear Readers,

The global recession is here. RBI has projected a negative growth for FY20-21. The supply chain is broken, demand is muted and plants are shut amidst this lockdown. Is there a silver lining? Since we cater to you, CFOs, and your community which includes financial executives and finance professionals have decided to decode this. We at ETAUTO have crafted a first of its kind, ETCFO Leadership Virtual Summit and the theme is, Foreseeable Future: Winning in the Age of Virus.

Happy reading.

Stay Safe

Editor,

ETAUTO
ETAuto Originals
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Top Stories
• Auto companies stare at bleak wholesale numbers in May
• After Ola's downsizing, Uber India lays off 600 employees
• Register: ETAuto Simulation & Testing Virtual Congress
• Bosch sees auto on a slow road to recovery, faces valuation pressure
• Euler Motors raises Rs 20 crore as part of Series A funding
• Tata Motors gets board nod to raise Rs 1,000 cr HT MINT
• Daimler appoints Philipp Schiemer as CEO of Mercedes-AMG
• Government may put off some new automotive regulations
• Lithium producers must wait as pandemic slows electric vehicle revolution
• Skoda India launches new Karoq SUV, price starts at Rs 24.99 lakh
• Vehicle rental companies expect surge in demand post-Covid HBL
• Daimler to invest in Chinese EV battery maker Farasis' $480 million IPO
• France unveils $8.8 billion rescue for ailing car industry
• BIS certification to be made mandatory for wheel rims to ensure safety, boost local manufacture HBL
• Bike-sharing, carpooling may be the norm for commuters as offices open up HT MINT
• Why Hero Motocorp is better poised than peers to ride out of the lockdown Livemint
• Ola's financials services arm raises 200 crore, CEO Nitin Gupta quits Livemint
• Covid impact: Millennials unlikely to use public transport post lockdown Livemint
• Automakers tie up with banks, NBFCs to lure customers with schemes Livemint
• Shutting down economic activity uncalled for: Yamaha India chief @businessline
• New Lexus NX To Get 302-HP Plug-In Hybrid And 4WD For 2022 Launch Forbes.com
• Council Post: Weathering The Pandemic With The Cloud Forbes
• Mexico's Auto Industry Restart Gathers Steam, Ford Still Waiting Nytimes.com
• Nissan plans $2.8bn cost cut, scaling back US factory Nikkei Asian Review
• Mercedes-Benz launches sales of its premium all-electric EQV van TechCrunch
Industry
• Fitch projects Indian economy to contract 5% this fiscal
• Relief to automakers, govt set to defer of some new automotive regulations
• Madhya Pradesh: Sputtering auto sector seeks govt push
• View: Will labour reform drive away investment?
• Rupee inches 21 paise higher buoyed by gains in equities
• Sensex gains 350 points to trade above 31000 mark
• CBIC clears Rs 11,052 cr GST refund claims since Apr 8
Passenger Vehicle
• Supercar group McLaren to cut 1,200 jobs across group amid pandemic
• Suzuki's profit beats estimate, steps up dividend
• Renault to join European electric battery project: Macron
• Aston Martin CEO steps down as 007 carmarker hits skids
• Hyundai reopens over 800 sales outlets across country
• Lockdown strains another romance: California and Elon Musk
• Neither revising 2025 target nor holding back investments due to COVID-19: Skoda Auto India
• Nissan and Renault shelve merger plans to repair their alliance
• Toyota, Nissan and Honda gear up for Mexico reboot after COVID-19 lockdowns
• Hyundai teases 2021 Santa Fe
• Suzuki defers production at new Maruti plant
Commercial Vehicle
• Rajasthan govt allows taxis and autos to operate in red zones, except containment areas
• Gurugam buses eye start with scanners, sanitisers
Aftermarket
• Uber-rival Bolt raises 100 million euros
• My Taxi India furnishes vehicles with PPE kits, curtains for safety of drivers, passengers
• Maruti Suzuki issues safety norm for True Value showrooms
• Riding to the rescue: Hanoi motorbike taxi drivers turn first aiders
Auto Components
• IIT, North Texas varsity develop magnesium alloy which can replace steel, aluminium in automobiles
• Nickel futures advance on spot demand
• China steel body, producers call for domestic iron ore output boost
• ZF's electric portal axle to propel Optare Metrodecker EVs in London
Tyres
• JK Tyre rolls out 2 crore units of truck, bus radial tyres
Auto Technology
• Continental partners with Pioneer for a New User Experience
Auto Finance
• FCA India introduces financing scheme Jeep for All
 
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