Morning Daily - 2020-08-22

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ETAuto Newsletter | Saturday, August 22, 2020

Daily Newsletter
Policy | Industry | Passenger Vehicle | Commercial Vehicle | Two Wheelers | Aftermarket | People Movement | Auto Components
Top Stories
• Govt to study auto supply chain to boost localisation
• You need to have a valid pollution under control certificate to renew your motor insurance: IRDAI
• Customers still expect physical touchpoints: Martin Schwenk
• E-vehicle sales in Mumbai rise by 1,360% in 3 years, most for bikes
• Subros expects business to reach pre-COVID-19 levels in latter part of FY21
• India's crude imports fall to lowest in over a decade in July
• The power of twins: how Volvo-Eicher plans to rule the Indian roads with mass and premium buses ET Prime
• Amtek Resolution: Bankers set to seek Supreme Court intervention
• Oil India consolidated Q1 net profit plunges on lower crude prices HBL
• Sonet SUV receives 6,523 bookings on first day, claims Kia
• Hero-backed Ather Energy to go for another round of fundraising Moneycontrol
• Affordable credit to women-owned businesses is need of the hour: Study HBL
• Joe Biden labels auto industry 'iconic,' calls for 'empowered unions' The Detroit News
• Riding on BS-VI, Honda to target developed markets from India Moneycontrol
• Insider Transportation: GM's risky battery bet, Uber avoids a shutdown, airports adapt to the age of coronavirus, and more Business Insider
• Turbocharger Vs. Supercharger: The Basics Of Forced Induction Forbes Wheels
• Is Auto Insurance Really Enough To Cover Your Rental Car? Forbes Advisor
• China's Nio Inc expresses plans of expanding to Europe The Union Journal
• BMW's partner in China sees bonds plunge Nikkei Asian Review
• Council Post: The Future Of Work Is More Than Remote Work Forbes
• Council Post: 11 Vital Parts Of Company Doctrine That Need To Be Revamped Forbes
Industry Reports
• Automotive sector: Key considerations for the proposed online sales model
Industry
• Government considering pre-packaged resolution for stressed firms under IBC
• UK economy rebounding for now, as public borrowing mounts
• RBI at end of rate cut cycle, government needs to play decisive role for economic recovery: SBI economists
• Single e-compliance window soon: MCA initiates discussions with RBI, Sebi, DPIIT on transfer of data
• Dont wait for Kamath report to rejig loans: RBI to banks
• PUC gets costlier in Gujarat
• Rupee settles 18 paise higher at 74.84 against US dollar
• Noida: 1,839 vehicles challaned, 17 impounded for flouting COVID curbs
• Trump vows to 'permanently' end America's reliance on Chinese manufacturing, supply chains
• Maharashtra: Shiv Sena's transport wing wants moratorium on repayment of loans on vehicles extended till December, 2020
• Digital lenders are busy helping Indian MSMEs stay afloat: Report
• Buoyant Indian stock markets to correct: RBI governor
• Gadkari reviews road projects; launches app 'Harit Path' to monitor plantation along NHs
• FIDC seeks exemption of NBFCs from restriction on opening of current accounts
• Euro zone business recovery stuttered in August
• FPIs turn net buyers in June quarter, invest $4 billion in Indian equities
• Conclusion of US-India trade talks to be phase 1 of bilateral deal
• Delhi: Transport minister Gahlot holds meeting with RK Singh, says assurance given for subsidy to 1,000 electric buses
Passenger Vehicle
• Chinese EV maker XPeng looks to raise up to $1.11 bln in U.S. IPO
• German prosecutors suspect suicide in death of suspended VW employee
• Toyota sees higher vehicle output in Japan in Sept
• Bentley Pikes Peak Continental GT production begins
• China's budget EV maker Kandi eyes setting up North American manufacturing plant
Commercial Vehicle
• UP allots fund for charging depots for electric buses
Two Wheelers
• Honda to ride in new motorcycle on August 27, drops teaser
Aftermarket
• Olx launches franchisee model for used cars
• Jaguar Land Rover opens 3S retail outlet in Bengaluru
Auto Components
• Thyssenkrupp steel unit aims for return to profit in fiscal year 2021/22
• Tata Steel, UK government in talks for sustainable solution, says company chairman
• State-run engineering firm BHEL bags maiden order for battery energy storage systems
• Chile lithium producer SQM posts record sales, profits plagued by low prices
• London copper edges up as U.S. dollar weakens
• Iron ore extends pullback after rally on China demand hopes
• Shareholders quiz management of Tata Steel on UK unit
• Surging demand for steel lifts prices
Oil & Lubes
• Saudi Aramco suspends $10 billion China oil refinery venture
• Indian Oil Corp depot at Ambala cantonment to be shifted to Una: Haryana minister
 
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