Hyderabad: Audi, the German luxury car manufacturer, has announced the launch of the Audi Q5 Bold Edition for the upcoming festive season. The Audi Q5 Bold edition represents a unique blend of unmatched luxury, impressive performance and bold styling. Priced at Rs 72,30,000, the model has limited units on offer and is available in a choice of five striking exterior colors – Glacier White, Navarra Blue, Mythos Black, District Green and Manhattan Gray.
Balbir Singh Dhillon, Head of Audi India said, “Customers today want exclusivity and with this special, Bold Edition, they get a perfect blend of customisation and features. The Audi Q5 has always been amongst our best-seller models and we are confident that this new Bold Edition will only attract more buyers and brand fans.”
Black styling package further elevates the Audi Q5 aesthetic quotient with a daring yet sophisticated enhancement. This package transforms the vehicle’s appearance by applying a sleek, high-gloss black finish to various elements, including the grille, Audi emblems (front and rear), window surrounds, exterior mirrors, and roof rails. The result is a distinguished and striking look that exudes an even more bold and confident presence.
New Delhi: The trial run of the Delhi government’s mohalla bus service commenced on Monday on two routes and will continue for a week, Transport Minister Kailash Gahlot said.
At a press conference, he said there will be 2,080 buses under the scheme and the government plans to introduce all by 2025. Of these, 1,040 will be operated by the DTC and the rest by DIMTS, the minister said. The fare will be the same as AC buses of the Delhi government and women can avail free rides using Pink passes. “The introduction of the mohalla bus service marks a significant step towards enhancing last-mile connectivity in our city,” Gahlot said.
Giving details of the buses being used for the service, he said these are designed to navigate highly congested areas with limited road width, providing a reliable and efficient transportation option for the locals. “The trial will help us gather essential feedback to ensure the service meets the needs of Delhiites,” he said.
The minister said the routes are being finalised with help from various organisations, including IIT-Delhi. The trial run will continue for seven days on two routes — Pradhan Enclave Pushta to Majlis Park Metro Station and Akshardham Metro Station to Mayur Vihar Phase-III Paper Market. The buses, painted green for easy identification by passengers, are equipped with six battery packs with a total capacity of 196KW, providing a range of over 200 km with an opportunity charging of 45 minutes.
These nine-meter buses have 23 passenger seats and a standing capacity of 13. Six seats are coloured pink, marking these reserved for women passengers, according to a statement. The Delhi government is currently operating 100 buses acquired from the Delhi Metro Rail Corporation (DMRC) to enhance last-mile connectivity. The maximum route length of these mohalla buses is 10 km. Gahlot said these buses will help in boosting first and last-mile connectivity, particularly in areas where standard 12-metre buses face operational challenges due to their size and turning radius. The Delhi government has built 16 depots across the city for parking and maintenance of mohalla buses.
Perpetuity Capital, a fintech platform specializing in clean-tech mobility, has raised INR 7 crores through Non-Convertible Debentures (NCDs). This funding round was backed by N+1 Capital and RevX Capital, two debt funds supporting SMEs and financial institutions. Perpetuity Capital plans to use these funds to enhance its lending capabilities and expand its loan book, focusing on East India.
This capital infusion will enable Perpetuity Capital to advance its mission of supporting clean-tech mobility solutions by enhancing access to finance and credit. The aim is to promote the adoption of electric vehicles and reduce the carbon footprint in these regions.
N+1 Capital and RevX Capital are investing in Perpetuity Capital to support sustainable innovations. N+1 Capital provides non-dilutive capital to startups and growth-stage companies, aligning with Perpetuity Capital’s mission. RevX Capital offers both funding and strategic guidance to help Perpetuity Capital achieve new milestones.
Statements from Key Stakeholders
Karamveer Dhillon, CEO of Perpetuity Capital:“We are excited to have the support of N+1 Capital and RevX Capital as we continue to expand our lending operations in East India. This funding will significantly bolster our ability to provide financial solutions that facilitate the adoption of clean mobility, ultimately contributing to a greener and more sustainable and inclusive future.”
Akshay Saini (Vice President of N+1 Capital) said:“Perpetuity Capital’s focus on clean-tech mobility aligns perfectly with our investment philosophy of supporting ventures that drive positive environmental impact. We are proud to partner with them and support their growth in key regions of India.”
Sushant Bhatia (Director, Investments of RevX Capital) said:“Investing in Perpetuity Capital represents an investment in sustainable and inclusive development. We believe in their vision and capacity to transform the mobility sector in Bihar and Jharkhand. Our collaboration aims to accelerate the adoption of clean technologies in these areas.”
Hyderabad: JSW MG Motor India today introduced its latest range of accessories for the ongoing monsoon season. These high-quality accessories are introduced for its entire portfolio to ensure that the customers and their vehicles are protected throughout the monsoon season, a media release says here.
With the introduction of the monsoon accessories range, the brand is offering its customers to embrace the monsoon season with added comfort and convenience. These essential monsoon accessories are now available at the company’s dealerships and ensure a protected, and hassle-free driving experience during the rainy season.
The Monsoon range includes:
1. Umbrella – This is a sleek umbrella with MG branding which will be perfect for sudden showers. Equipped with an automatic open mechanism, it can be activated with a single press of button. Combining functionality with style, it provides UV protection and big enough to accommodate 2-3 people. The company-branded umbrella ensures the customers are well-protected when they step out of the vehicle, regardless of the weather.
2. Car cover – This waterproof, breathable car cover offers superior protection against heavy rains and high humidity. It not only prevents water from seeping in, but also allows moisture to escape, thereby avoiding mold and mildew. This cover ensures that the vehicle remains clean and dry and, preserving its shine and appearance even in the harshest weather conditions.
3. Chrome cleaning kit – The anti-corrosion chrome cleaning kit is a must for monsoon season, which includes cleaning solution that resists corrosion and tarnish. This kit ensures that chrome accents maintain their shine and durability throughout the monsoon season. This high-quality product will enable the vehicle to withstand the rigors of the wettest months, adding both protection and flair.
4. Invinsible Super Car Cleaner Spray – This powerful, practical cleaner is gentle on surfaces, tackling the toughest stains in seconds. For maintaining a spotless interior, this specially formulated spray keeps monsoon dirt and grime at bay. It keeps the car interior clean and fresh even in muddy conditions and is safe on all surfaces and leaves no odours or chemical residue.
5. Car mounting wireless charger and holder – This waterproof, shock-resistant wireless charger and phone holder ensures that mobile stays charged and firmly secure while driving in rainy conditions. Designed to handle bumps and moisture during monsoon driving, it offers seamless convenience and safety. The durable adhesive ensures secure mounting, while the touch sensor allows for easy operation. It is compatible with iOS, Android, and other phones, offering 360° rotation for flexible positioning.
6. Dash cam: The high-resolution dash cameras with rear add-on options helps in capturing every moment of the journey, seamlessly. They provide crystal-clear video recording, enhancing safer travels and providing evidence in case of incidents. Designed for high performance and reliability; these dash cameras offer advanced features helps in comprehensive coverage and peace of mind during claim process.
The EV ecosystem of tomorrow is paved with data. The standardization of data ownership, robust security protocols, and clear data privacy regulations will be the cornerstones of this future.
Ravikiran Annaswamy, CEO and co-founder of Numocity, writes about initiating dialogue and action to ensure data privacy and protection as the ecosystem evolves.
Imagine hitting the road in your shiny new electric vehicle (EV). The battery purrs silently, and the GPS guides you effortlessly. But behind the scenes, a hidden world of data whirs to life. There is a continuous flow of data, from your vehicle’s battery health to vehicle performance, to the visited charging stations, payment details & some Personally Identifiable Information (PII), all moving into data centres or cloud systems for storage and processing.
Most companies believe data is the key to monetization. The amount of data collected is staggering. Experts predict a nearly sevenfold increase by 2030 up to 5 Exa Bytes (5000 million GB). This data will provide valuable insights but also present numerous challenges. This stored data paints a detailed picture: battery performance monitored by vehicle manufacturers (OEMs), charging grid details and usage managed by charger manufacturers, and even the location, payment and user information stored by charging stations.
The question remains: who owns this data, and how safe is it?
Currently, the data landscape is an open field. Vehicle companies traditionally lay claim to the data their vehicles generate. However, fleet operators with large numbers of EVs are increasingly challenging them as the data generated by the fleets as their own which will help them to operate the business much more efficiently.
This challenge over data ownership remains unresolved due to the lack of clear policies, guidance, and regulations. A lack of clear global policies adds another layer of complexity. Many countries, including India, are pushing for data localization, wanting EV data to be stored securely within their borders.
Upcoming regulations for data privacy
Privacy is paramount. Imagine someone knowing about your every move on the road, combined with your payment details and other personal information. This is why regions like the EU have strict data protection regulations like GDPR (General Data Protection Regulation).
India is on the cusp of introducing its own data protection legislation, the Data Protection and Data Privacy (DPDP) bill, which is expected to be enacted in the coming years. This bill will include key provisions to safeguard individual privacy, enforce data localization, and impose penalties for data breaches. This will mandate data minimization, requiring EV operators to collect only necessary data with masked information and not monetise stored data. It emphasizes explicit user consent for data collection, enhancing transparency and trust. The Act also grants users rights to access, correct, and erase their data, obliging EV service providers to facilitate effective data management.
Cybersecurity measures are essential
Data security is just as crucial as information; as data zips through the air, robust cybersecurity measures are essential. Think of them as digital guardrails protecting the data flow.
In the EV Charging ecosystem, newer standards like OCPP 2.0.1 act like a vigilant patrol car, constantly checking IDs and encrypting messages to ensure only authorized parties access your data. ISO 15118 offers secure, automatic EV identification and authorization through its Plug & Charge feature. It ensures secure communication with digital certificates and protects data integrity and confidentiality with robust encryption and signing mechanisms. Both OCPP and ISO 15118 use strong encryption, scrambling the data into an unreadable code. This makes it impossible for anyone snooping to steal your information, just like a locked safe keeps your valuables secure at home. These standards also enhance the user experience and provide advanced management functionalities, including user-friendly interfaces, intelligent charging features like load management and remote diagnostics, and comprehensive monitoring tools for CPOs. Additionally, securing the On-Board Diagnostics (OBD) port in your vehicles acts as a digital lock, preventing unauthorized access.
Looking ahead
The future of data security in the EV ecosystem hinges on the development and implementation of comprehensive data privacy and security frameworks. Imagine all the involved stakeholders – vehicle and charger manufacturers, governments and others – working together. Standardization of data ownership, robust security protocols, and clear data privacy regulations will be the cornerstones of this future.
Governments worldwide are beginning to recognize the importance of data security, and they are expected to introduce new policies aimed at protecting the vast amounts of data generated by the EV ecosystem. These policies will likely focus on data localization, cybersecurity, and privacy, ensuring that data remains secure and is used responsibly. As we navigate the challenges and opportunities of the EV revolution, securing the vast and diverse data within the ecosystem will be crucial. By prioritizing data privacy and security and fostering collaboration between all stakeholders, we can build a resilient and trustworthy EV ecosystem for the future.
The EV ecosystem of tomorrow is paved with data. By prioritizing privacy, implementing robust security, and establishing clear ownership, we can ensure a smooth and secure journey for everyone.
We urge the Finance Ministry to introduce the benefits of claiming depreciation on vehicles for individuals paying income tax – Manish Raj Singhania, president, FADA
Tax Net
Current corporate tax at 25% on turnover upto Rs400 cr
FADA wants this benefit to all LLPs, proprietary partnership firs
New Delhi: Automotive dealers body FADA on Friday urged the government to introduce vehicle depreciation benefits for individual taxpayers, saying it will not only expand the taxpayer base, but also ignite automobile demand.
In its pre-budget wishlist, the Federation of Automobile Dealers’ Associations (FADA) also asked the finance ministry to reduce corporate tax for LLPs, proprietary, and partnership firms. “We urge the Finance Ministry to introduce the benefits of claiming depreciation on vehicles for individuals paying income tax,” FADA President Manish Raj Singhania said in a statement.
Allowing individuals to account for depreciation will not only increase the number of income tax filers, but also ignite automobile demand, he reasoned. Singhania also recommended reduction of corporate tax for LLPs, proprietary, and partnership firms.
“While the government has already reduced corporate tax to 25 per cent for private limited companies with a turnover of up to Rs400 crore, extending this benefit to all LLPs, proprietary and partnership firms is crucial, as most traders within the auto dealership community fall into these categories,” he noted.
FADA strongly appeals to the government to consider these two key measures in the upcoming budget to stimulate the automotive industry and broader economy, Singhania said. Finance Minister Nirmala Sitharaman is slated to present the Union Budget for 2024-25 on July 23.
Seoul, July 13: Hyundai Motor’s labour and management have concluded their wage negotiations without a strike for the sixth year in a row, agreeing on the highest wage increase in the company’s history.
The union said on Saturday its members have voted to accept a tentative wage deal reached earlier in the week.
Under the agreement, Hyundai will increase workers’ basic monthly pay by 4.65 percent, or 111,200 won ($81), and give a one-off performance-based bonus equivalent to 500 percent of the basic monthly salary, plus 18 million won, to each worker.
In addition, each employee will receive 25 shares in the company, reports Yonhap news agency.
The company also agreed to extend the maximum period for retired skilled workers to be reemployed as contract-based workers from the current one year to two years.
The agreed-upon wage increase is the highest in the company’s history.
With the unionised workers voting in favour of the deal, the carmaker has concluded wage bargaining without a strike since 2019.
The deal was reached just two days ahead of the union’s planned strike. It reportedly withdrew the strike plan after management agreed on the highest-ever wage raise and the two-year reemployment programme for skilled retired workers.
“The union and the management will faithfully carry out their social roles as members of the global community and prepare together for a better future,” the automaker said in a statement.
Both sides will hold a signing ceremony for this year’s wage deal on Monday.
New Delhi: Riding on overall economic growth, especially in the rural markets, the Indian automobile industry saw a robust performance across all segments in the first quarter of the current fiscal (FY25), including passenger vehicles, commercial vehicles, three-wheelers, and two-wheelers, data released by the Society of Indian Automobile Manufacturers (SIAM) said on Friday.
In the passenger vehicles segment, sales surpassed one million units in Q1 FY25 for the first time.
According to SIAM, sales grew by 3 per cent compared to the same period last year, reaching a total of 1,026,006 units. The growth was driven primarily by utility vehicles, which saw an 18 per cent increase, and even vans, which rose by 9.2 per cent.
The two-wheeler segment also experienced substantial growth, with sales rising by 20.4 per cent to nearly five million units.
Scooters led this charge with an impressive 28.2 per cent growth, while motorcycles and mopeds also posted significant increases.
The three-wheeler segment saw a 14.2 per cent growth, reaching 165,081 units, the highest ever for Q1, driven by both passenger carriers and goods carriers.
“The automotive sector shows resilience and adaptability, and is poised to continue its upward trajectory benefiting from both domestic demand recovery and favourable export conditions,” said SIAM President Vinod Aggarwal, citing positive monsoon forecasts and the festive season as potential growth drivers.
Commercial vehicles also showed positive momentum with a 3.5 per cent increase in sales, totalling 224,209 units.
In June, the Indian auto industry produced 2,336,255 units of passenger vehicles.
When it comes to exports, passenger vehicle exports grew significantly by 18.6 per cent over the April-June period, with utility vehicles contributing a substantial 40.2 per cent. “The export of M&HCVs and LCVs grew by 11.3 per cent and 6.3 per cent respectively,” the report noted.
New Delhi: Auto industry body SIAM on Friday sought sops to promote EVs and suggested the government to bring in additional incentives for scrapping of vehicles in the upcoming Budget.
The Society of Indian Automobile Manufacturers emphasised on a growth oriented Budget with focus on greater allocation for capital expenditure.
“We are expecting that the government should come up with a FAME-3 like policy. Good schemes like PLI are already in place, which we are sure will continue,” SIAM President Vinod Aggarwal told reporters here.
New Delhi, July 12: Riding on overall economic growth, especially in the rural markets, the Indian automobile industry saw a robust performance across all segments in the first quarter of the current fiscal (FY25), including passenger vehicles, commercial vehicles, three-wheelers, and two-wheelers, data released by the Society of Indian Automobile Manufacturers (SIAM) said on Friday.
In the passenger vehicles segment, sales surpassed one million units in Q1 FY25 for the first time.
According to SIAM, sales grew by 3 per cent compared to the same period last year, reaching a total of 1,026,006 units.
The growth was driven primarily by utility vehicles, which saw an 18 per cent increase, and even vans, which rose by 9.2 per cent.
The two-wheeler segment also experienced substantial growth, with sales rising by 20.4 per cent to nearly five million units.
Scooters led this charge with an impressive 28.2 per cent growth, while motorcycles and mopeds also posted significant increases.
The three-wheeler segment saw a 14.2 per cent growth, reaching 165,081 units, the highest ever for Q1, driven by both passenger carriers and goods carriers.
“The automotive sector shows resilience and adaptability, and is poised to continue its upward trajectory benefiting from both domestic demand recovery and favourable export conditions,” said SIAM President Vinod Aggarwal, citing positive monsoon forecasts and the festive season as potential growth drivers.
Commercial vehicles also showed positive momentum with a 3.5 per cent increase in sales, totalling 224,209 units.
In June, the Indian auto industry produced 2,336,255 units of passenger vehicles.
When it comes to exports, passenger vehicle exports grew significantly by 18.6 per cent over the April-June period, with utility vehicles contributing a substantial 40.2 per cent.
“The export of M&HCVs and LCVs grew by 11.3 per cent and 6.3 per cent respectively,” the report noted.
