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Apple’s India Production to Hit 25% of Global Shipments by 2025

IANS

Apple’s manufacturing footprint in India is set to expand significantly, with projections indicating that the country will account for 25% of global iPhone shipments by 2025. This development is a witness to the success of the Indian government’s ‘Make in India’ initiative and the production-linked incentive (PLI) scheme, which have collectively stimulated Apple’s local manufacturing capabilities.

In 2017, iPhone production in India accounted for less than 1% of global output. However, by 2023, this figure had risen to 10%, demonstrating the rapid growth of India’s electronics manufacturing sector. The PLI scheme, in particular, has played a pivotal role in this expansion, offering financial incentives to companies that increase their manufacturing capacity in the country.

Apple’s commitment to expanding its manufacturing footprint in India is further evidenced by its preparation for the launch of the latest iPhone models in the country. The tech giant is set to make its ‘Make in India’ iPhone 16 Pro and 16 Pro Max models available in the country immediately after the global launch.

The expansion of Apple’s manufacturing operations in India is also expected to create significant employment opportunities. Industry sources predict that Apple will create between 500,000 and 600,000 direct and indirect jobs in the country over the next 1-2 years. This job creation is facilitated by the government’s PLI scheme, which has incentivized Apple and its suppliers to increase manufacturing in the country.

IANS

The growth of Apple’s operations in India is also reflected in the sharp increase in iPhone exports from the country. In the fiscal year 2023-2024, iPhone exports surged to $12.1 billion, up from $6.27 billion in the previous fiscal year. This growth underscores India’s emerging role as an export hub for Apple’s devices.

The Indian government’s PLI scheme has not only boosted the electronics manufacturing sector but also aims to foster the growth of the semiconductor and display manufacturing industries. The government is providing financial incentives across 14 sectors worth Rs 2 lakh crore, with an additional Rs 70,000 crore earmarked to boost the semiconductor and display manufacturing ecosystem.

However, the growth of the electronics manufacturing sector is not without challenges. The sector is grappling with issues such as information asymmetry, where government bureaucrats often lack the knowledge to effectively allocate subsidies and protectionist policies. There is also the risk of crony capitalism, where politically connected firms secure government support for reasons unrelated to their technological and managerial competence.

Despite these challenges, the electronics manufacturing sector in India and the broader Asia-Pacific region is poised for continued growth. With the right policies and incentives in place, these regions can capitalize on the opportunities presented by the global shift towards digitalization and smart manufacturing.

September 12, 2024
Semicon India 2024: Uttar Pradesh gears up for major semiconductor event

Semicon India 2024: Uttar Pradesh gears up for major semiconductor eventIANS

In a major move to position Uttar Pradesh as a key player in semiconductor manufacturing, the Yogi Adityanath-led government is set to host Semicon India 2024 at the India Expo Mart in Greater Noida from September 11 to 13.

This event, which will be organised in collaboration with SEMI, Messe Muenchen India, and the Electronic Industries Association of India-ELCINA, aims to elevate India’s semiconductor sector and establish the country as a significant global contender.

Prime Minister Narendra Modi will officially inaugurate the event on September 11, with Chief Minister Yogi Adityanath also in attendance.

The semiconductor industry in India is rapidly growing, with forecasts suggesting the regional chip market could exceed $55 billion by 2026.

To harness this potential, the Uttar Pradesh government is actively seeking investments from semiconductor firms.

Uttar Pradesh government is actively seeking investments from semiconductor firmsIANS

Semicon India 2024 will feature a comprehensive exhibition running from September 11 to 13, highlighting cutting-edge advancements in semiconductor technology. Manufacturers from around the world will showcase their innovations, providing a glimpse into the industry’s future.

The second day of Semicon India 2024 will delve into critical areas such as cross-regional partnerships, flexible hybrid electronics, supply chain management, and sustainable industry practices.

On the final day, September 13, attendees can look forward to a presentation by Micron on package manufacturing, a semiconductor fabrication boot camp hosted by ISA, and an overview of the semiconductor industry’s progress by IESA.

This year’s Semicon India Exhibition and Conference will be held alongside Electronica India and Productronica India, the largest electronics fairs in Southeast Asia. This landmark event will unite a wide range of domestic and international companies, providing a prime opportunity to explore India’s burgeoning semiconductor sector and discover new business prospects.

Semicon India 2024 will offer a dynamic range of exhibitions, programmes, and networking opportunities, allowing participants to interact with local leaders and government officials and gain insights into India’s semiconductor industry.

The India Semiconductor Mission, backed by major firms like AMD, Applied Materials, and Micron Technology, aims to bolster domestic chip production.

In alignment with this national initiative, the Yogi Adityanath government is actively promoting Uttar Pradesh as a semiconductor manufacturing hub. The newly introduced UP Semiconductor Policy provides substantial incentives, including a 50 per cent additional capital subsidy, 75 per cent land rebate, 100 per cent exemption from electricity duty for 10 years, and a 5 per cent interest subsidy (up to Rs 7 crore).

Chief Minister Yogi Adityanath has urged investors to explore Uttar Pradesh’s potential, as the state strives to become a $1 trillion economy.

Over the past seven years, Uttar Pradesh has evolved into a significant electronics manufacturing hub, with over 200 companies and a dominant 65 per cent share of India’s mobile production. The state is now focusing on expanding its role in the fabless semiconductor sector, leveraging its extensive rail network and growing airport infrastructure, including the forthcoming Noida International Airport. These advancements enhance Uttar Pradesh’s attractiveness for high-tech industries and global chip design and R&D companies.

(With inputs from IANS)

September 11, 2024
India Inc sees 63 pc surge in deal value at $8.7 billion in August: Report

IANS

India Inc saw a huge 63 per cent increase in deal value for the month of August at $8.7 billion amid geopolitical challenges, as telecom, energy and EV sectors shined, a report showed on Monday.

Excluding IPOs and Qualified institutional placements (QIPs), the month saw a total of 179 deals. Overall volumes saw a modest 3 per cent rise and mergers and acquisitions (M&A) transactions dominated the landscape, accounting for 71 per cent of the total value, according to the Grant Thornton Bharat Dealtracker.

Private Equity (PE) deals contributed to 68 per cent of the total volume, with seven high-value deals ($ 100 million) collectively worth $1.7 billion, surpassing the previous month’s values with seven deals worth $1.4 billion.

This robust deal activity underscores a vibrant market, with investors demonstrating confidence in India’s growth story across various sectors. India Inc continues to witness surge in deal activity in the background of the ongoing global economic uncertainties.

“India’s ability to attract capital and foster innovation across critical industries has been demonstrated well. We expect this strong in interest to continue, with themes like digitisation, cleantech, mobility, aerospace and defense remaining in the spotlight in the immediate future,” said Shanthi Vijetha, Partner, Growth at Grant Thornton Bharat.

Telecom led M&A values, largely driven by Bharti Enterprises’ $4 billion acquisition of a 25 per cent stake in British Telecom Group, the second-largest deal of the year.

The BFSI sector recorded the second-highest deal values and third-highest volumes with 29 deals worth $1.8 billion, driven by higher interest rates and strategic acquisitions, with Fintech leading in volumes.

The energy and renewables sector saw robust deal activity via five deals worth $518 million, highlighting India’s push towards energy transition and sustainability.

The retail and consumer segment saw 33 deals worth $458 million, with consumer services, ecommerce, and personal care driving activity despite a slight decrease in values, said the report.

The month witnessed robust fundraising activity, with a total of 19 deals securing $3.4 billion, marking the second-highest IPO and QIP activity in a year. This includes eight IPOs, collectively raising $1.8 billion.

(With inputs from IANS)

September 11, 2024
PM Modi’s vision hailed by global semiconductor industry leaders at SEMICON India 2024

SEMICON India 2024: Top semiconductor CEOs laud PM Modi’s visionIANS

The recent SEMICON India 2024 event, held at the India Expo Mart, served as a platform for global semiconductor industry leaders to acknowledge and appreciate Prime Minister Narendra Modi‘s vision for the sector. The event saw the participation of top CEOs from the industry, including Ajit Manocha of SEMI, Randhir Thakur of Tata Electronics, Kurt Sievers of NXP Semiconductors, Hidetoshi Shibata of Renesas Electronics, and Luc Van Den Hove of IMEC. Ajit Manocha, the President and CEO of SEMI, opened his address with an expression of admiration for the magnitude of the event. He described the scale of SEMICON India 2024 as unprecedented and exponential, starting his address with the word WOW. Manocha went on to praise PM Modi’s exceptional leadership, stating that it has inspired not just India, but the entire world.

He highlighted the rapid progress India has made in the semiconductor sector, attributing a significant part of this growth to PM Modi’s pivotal role in kickstarting the industry. We were walking earlier, now we are running… Opportunities are there, he added, emphasizing the potential for further growth. Randhir Thakur, the CEO and MD of Tata Electronics, expressed his gratitude to PM Modi for making the exhibition possible. He highlighted India’s significant strides in establishing its first commercial fab in Gujarat and an Indigenous semiconductor plant in Assam. Thakur noted that both projects received approval from the Government of India in record time, setting a global benchmark.

He emphasized Tata’s collaboration with Taiwan’s Powerchip Semiconductor, which provides access to proprietary technology to address markets such as AI, automotive, and data storage. Kurt Sievers, the President and CEO of NXP Semiconductors, underscored the importance of collaboration, ambition, and trust. He described India’s progress as a big milestone on the transformational journey of India. Sievers noted that NXP has been operating in India for 50 years and praised the country’s combination of innovation, democracy, and trust, which attracts businesses like his to work in India. He reiterated NXP’s commitment to India, stating, NXP is here to stay and committed to boosting the semiconductor ecosystem in India.

Semicon India 2024′ event in Greater Noida from September 11-13IANS

Hidetoshi Shibata, the CEO of Renesas Electronics, spoke about the company’s partnership with CG Power to establish one of India’s first semiconductor assembly facilities in Gujarat. He added that Renesas is expanding its operations in India, including doubling its headcount in Bengaluru and Hyderabad by next year. Shibata shared insights into Renesas’ role in bringing sophisticated semiconductor technologies to the global market and praised India’s potential in the sector. Luc Van Den Hove, the CEO of IMEC, emphasized the importance of a long-term R&D strategy for semiconductor development, calling it a marathon rather than a sprint. He praised India’s commitment to semiconductor manufacturing and expressed IMEC’s readiness to form strategic partnerships with India. The world needs a reliable supply chain, and who can be a better-trusted partner than the world’s largest democracy, Van Den Hove said, pledging IMEC’s support for India’s ambitious plans.

SEMICON India 2024 underscored India’s growing influence in the semiconductor industry. The event highlighted the rapid strides India has made in the industry and the potential for future growth. The leaders’ addresses underscored the importance of collaboration, ambition, and trust in the industry, and their commitment to supporting India’s journey in becoming a key player in the global semiconductor supply chain. This is reminiscent of the 1990s when India emerged as a global IT hub, attracting multinational companies and fostering homegrown tech giants. The current developments in the semiconductor sector seem to be a repeat of that history, with India poised to become a significant player in the global semiconductor industry.

September 11, 2024
Autonomous Vehicles: The Vanguard of Transportation’s Future

Autonomous Vehicles (AVs) are emerging as a transformative force in global transportation, promising to revolutionize road safety, urban mobility, and logistics. Experts Spandana Sagam and Govardhan Reddy Kothinti highlight how AVs leverage artificial intelligence, machine learning, and advanced sensors to enhance efficiency and safety. However, achieving their potential involves overcoming regulatory, public trust, and ethical challenges. The path forward will require collaboration, innovation, and careful navigation of societal and technological complexities to fully realize AVs’ potential.

The Leap Towards Safer Roads

AVs offer a compelling promise to improve road safety. Human error is responsible for about 94% of serious accidents worldwide, underscoring the need for a new approach. Equipped with LIDAR, radar, cameras, and ultrasonic sensors, AVs provide superior environmental awareness and responsiveness compared to human drivers. Their advanced systems enable precise 3D mapping, real-time object recognition, and seamless V2V and V2I communication. These capabilities facilitate rapid decision-making and adherence to safety protocols, potentially reducing traffic fatalities. Despite issues like cybersecurity and all-weather functionality, AVs hold significant promise for enhancing road safety.

Reimagining Urban Mobility

AVs are poised to transform urban mobility by reducing the need for private car ownership. Autonomous ride-sharing services could decrease the number of vehicles on the road, alleviate traffic congestion, and free up urban space currently used for parking. The concept of “Mobility as a Service” (MaaS) is gaining traction, integrating AVs with public transit and micro-mobility solutions into a single platform. This shift could lead to more green spaces, improved air quality, and efficient traffic flow. As private vehicles become less common, cities will benefit from reduced congestion and shorter commutes.

Revolutionizing the Logistics Industry

In the logistics sector, AVs offer substantial advantages. Autonomous trucks can operate continuously, unlike human drivers constrained by regulations limiting driving hours. This capability promises faster deliveries and more efficient supply chain management. Innovations such as platooning and AI-powered route optimization improve fuel efficiency, cut emissions, and enhance reliability, especially in e-commerce. Autonomous drones are also transforming last-mile delivery, reducing delivery times significantly. However, widespread adoption in logistics will require updates to regulations, infrastructure improvements, and enhanced cybersecurity measures.

Challenges on the Horizon

Despite their potential, AVs face several significant challenges. Regulatory frameworks must evolve to address new issues related to liability, safety standards, and data privacy. Economic concerns include the potential displacement of workers in transportation-related industries. Public trust is another major hurdle, with many people hesitant to relinquish control to autonomous systems. Building trust will necessitate extensive pilot programs, clear communication, and proven safety records. Additionally, the ethical dilemmas surrounding AV decision-making in unavoidable accident scenarios must be carefully considered for widespread acceptance.

A Glimpse into the Future

Autonomous Vehicles represent a major leap forward in transportation, with the potential to enhance safety, reduce congestion, and transform logistics. However, realizing this vision requires navigating a complex landscape of regulatory, societal, and ethical issues. As the original contributors Spandana Sagam and Govardhan Reddy Kothinti emphasize, the future of AVs is not just about technological innovation but also about reshaping urban environments and industries. As technology advances and regulatory frameworks adapt, the widespread adoption of AVs could fundamentally alter how we navigate our cities and move goods across the globe. Through continued collaboration and innovation, AVs can deliver a safer, more efficient, and interconnected global transportation system.

September 11, 2024
AI-Powered Digital Payments: Transforming Travel, Hospitality, and Retail Experiences

In today’s fast-evolving digital landscape, artificial intelligence (AI) is rapidly transforming digital payment systems and reshaping industries. Sowmyanarayanan Soundararajan Guru, an expert in this field, has made significant contributions through extensive research, analyzing how AI innovations are revolutionizing sectors like travel, hospitality, and retail. His work highlights the potential of technologies such as machine learning, natural language processing, and predictive analytics to enhance operational efficiency, improve customer experiences, and deliver personalized services across these industries.

Scalability and Personalization in Travel and Hospitality

AI’s ability to handle vast amounts of data has made it indispensable in the travel and hospitality industry. With machine learning algorithms, companies can offer personalized travel recommendations, tailoring experiences based on individual preferences, past behaviors, and market trends. Dynamic pricing models further enhance the customer experience by adjusting rates in real-time to match demand fluctuations. This not only optimizes revenue but also offers travelers a more customized booking experience.

AI extends beyond bookings, with natural language processing (NLP) powering chatbots and virtual assistants to provide 24/7 support for inquiries and travel planning. This reduces the need for human agents, improving efficiency and reducing costs while maintaining customer satisfaction.

AI also significantly impacts fraud detection, analyzing large volumes of transactional data to identify suspicious activities in real-time, ensuring secure payment processing, and protecting sensitive financial data during online bookings.

Revolutionizing Retail with AI-Driven Payments

The retail sector has experienced significant advancements with AI-powered digital payments, particularly through predictive analytics. This innovation helps optimize inventory management, demand forecasting, and customer engagement by analyzing past transactions and consumer behavior. These insights enable retailers to personalize product recommendations, enhance the shopping experience, and ensure product availability, driving sales growth.

NLP-powered chatbots further elevate customer service by providing real-time support for product inquiries and digital payments, making the shopping process more efficient and user-friendly. Additionally, AI-driven fraud detection tools offer enhanced security by identifying and mitigating risks in real-time, helping retailers protect both customers and themselves from potential financial losses.

Ethical Challenges and Data Privacy

Although AI offers clear benefits in digital payments, challenges like data privacy and algorithmic bias must be tackled. AI systems depend on large datasets, raising concerns about the secure and ethical use of personal information. Regulations like the GDPR ensure businesses protect user data and maintain transparency.

Algorithmic bias is another significant issue, as AI models can unintentionally reinforce biases from historical data, leading to unfair outcomes for certain groups. To prevent this, businesses must use diverse datasets and continuously monitor AI systems. Prioritizing responsible innovation by following ethical guidelines and regulatory standards is essential to maintain public trust.

Opportunities for Growth and Future Innovation

As AI technologies advance, the potential for innovation in digital payments continues to grow. AI’s ability to automate tasks, improve security, and personalize services allows businesses to stand out in the competitive digital economy. AI-powered credit scoring models can help financial institutions better assess creditworthiness, providing greater access to underbanked populations and fostering financial inclusion.

In sectors like retail and travel, AI-driven dynamic pricing and personalized marketing optimize revenue streams and enhance customer experiences. Companies that invest in AI-powered digital payment systems will not only remain competitive but also unlock new opportunities for growth and innovation.

In conclusion, AI is transforming digital payments in industries like travel, hospitality, and retail by improving efficiency, personalization, and security. Technologies such as machine learning, NLP, and predictive analytics drive this change, though challenges like data privacy and algorithmic bias require attention to maintain trust. As Sowmyanarayanan Soundararajan Guru’s research shows, responsible AI practices will enable businesses to harness the full potential of AI-powered digital payments, fostering growth and long-term success.

September 11, 2024
‘Make in India’ initiative to help agrochemicals export cross Rs 80,000 cr in 4 years

‘Make in India’ initiative to help agrochemicals export cross Rs 80,000 cr in 4 yearssocial media

Exports by the Indian agrochemical industry have witnessed commendable growth in recent times and are likely to cross Rs 80,000 crore in the next four years, according to a new report.

The ‘Make in India’ initiative provides a timely framework to transform challenges into opportunities, enabling India to become a global manufacturing and export hub for agrochemicals.

The USP of India’s agrochemical industry is quality and affordable prices which makes the products first choice of millions of farmers across 130 countries.

According to a report by industry body Agro Chem Federation of India (ACFI) and EY, if facilitated a conducive environment, the sector shows the potential of achieving exports of over Rs 80,000 crore in the next four years.

India’s agrochemical exports outweigh the domestic consumption of the sameIANS

India’s agrochemical exports outweigh the domestic consumption of the same.

According to the ACFI, the government must focus on facilitating a conducive environment which includes streamlining licencing norms and improving infrastructure for storage and sale, incentivise biopesticide production, streamline registration process for new molecules, enter trade agreements with countries with more relaxed MRL norms, introduce PLI-like scheme to attract investment from global players.

India’s agrochemical industry plays a pivotal role in its agricultural success, supporting increased crop yields and safeguarding food security.

According to ACFI Director General Kalyan Goswami, as the fourth-largest producer of agrochemicals globally, India faces a paradox.

While it holds significant production capacity, it still imports significant amount of agrochemicals, primarily from China.

Parikshit Mundhra, Chairman of ACFI, said that we must transform challenges such as reliance on generic molecules, low agrochemical usage, a complex registration process for new molecules, and heavy dependence on imports into opportunities through the ‘Make in India’ initiatives.

Union Minister for Chemicals and Fertilisers, JP Nadda, recently assured industry representatives that the government will come up with policy interventions required to strengthen the chemicals sector.

Nadda said that the government has initiated numerous structural reforms to support industrial development in general, and to strengthen the chemicals sector in particular.

(With inputs from IANS)

September 11, 2024
Apple Unveils Health Innovations in Watch Series 10 and AirPods Pro 2

IANS

Apple has made a significant stride in health technology with the introduction of innovative features in its newly launched Apple Watch Series 10 and AirPods Pro 2. The announcement was made at Apple’s Its Glowtime event held at Apple Park in Cupertino, California. These new features are set to revolutionize the way users monitor their health, with the Apple Watch now capable of delivering sleep apnoea notifications and the AirPods Pro 2 offering the world’s first all-in-one hearing health experience.

Sleep apnoea is a serious sleep disorder where breathing repeatedly stops and starts. It is estimated to impact more than 1 billion people worldwide, and in most cases, goes undiagnosed. The introduction of this feature is a significant step towards addressing this global health concern. The sleep apnoea detection feature uses advanced machine learning and an extensive data set of clinical-grade sleep apnoea tests.

The innovative breathing disturbances metric will track users’ sleep, analyse sleep patterns and notify them in the event of an apnoea. The breathing disturbances metric uses the accelerometer to detect small movements at the wrist associated with interruptions to normal respiratory patterns during sleep, and then notify users if it shows consistent signs of moderate to severe sleep apnoea.

IANS

Apple noted that the sleep apnoea feature will roll out in 150 countries once it receives approval from the US Food and Drug Administration (FDA) in the next few months. Other standard health features like the Afib alerts, cardio fitness, and the ECG app, from the previous Apple Watch models are also present in the latest model.

The newly launched smartwatch is slimmer than its predecessor and features a larger display. The larger display and slimmer design are part of Apple’s ongoing commitment to improving user experience. The new design allows for extra text, a larger keyboard, and easier input.

In addition to the sleep apnoea detection feature, Apple’s AirPods Pro comes with active Loud Sound Reduction — a clinically validated hearing test feature — and an over-the-counter hearing aid feature. The first-of-its-kind software-based hearing aid feature helps make access to hearing assistance easier than ever at an approachable price point. The hearing test and hearing aid features are expected to receive marketing authorisation from global health authorities soon and will be available this year in more than 100 countries and regions.

Since launching the Health app in 2014, Apple has introduced meaningful features that focus on 18 areas of health and fitness across Apple Watch, AirPods, iPhone, and iPad. The introduction of sleep apnoea detection and hearing health features is a testament to Apple’s commitment to advancing health and fitness technology.

September 10, 2024
Apple iPhone 16 being launched globally from Indian factories: Ashwini Vaishnaw
Apple iPhone 16 being launched globally from Indian factories: Ashwini VaishnawIANS

Union Railways and Electronics and IT Minister, Ashwini Vaishnaw, on Tuesday said that Apple’s latest iPhone 16 is being produced and launched globally from the Indian manufacturing plants.

The ‘Make in India’ new iPhones will be available in the country on September 20, and will be exported to other nations as well.

“Apple’s latest iPhone 16 being produced and launched globally from Indian factories,” said Minister Vaishnaw.

“Prime Minister Narendra Modi’s ‘Make in India‘ initiative is now driving the creation of iconic products for the world,” the minister posted on X social media platform.

iPhone exports continue to clock around $1 billion each month thanks to the government’s production-linked incentive (PLI) scheme. According to the government, in the ecosystem of Apple alone, more than 2 lakh people have got employment and there is good amount of growth.

The iPhone exports from India surged sharply to $12.1 billion in 2023-24 from $6.27 billion in 2022-23. Overall, the company’s India operations reached 23.5 billion dollars in value in the last fiscal (FY24).

Tata Electronics, which runs two plants for Apple, is the biggest job creator in the Apple ecosystem, along with Foxconn and PegatronApple

iPhone factories in the country are set to hire more than 10,000 people directly in the peak festival period. Apple aims to manufacture more than 50 million iPhones in India per year, as it aims to shift some of the production out from China.

Tata Electronics, which runs two plants for Apple, is the biggest job creator in the Apple ecosystem, along with Foxconn and Pegatron.

As tech giants like Apple continue to shift iPhone manufacturing to India amid political stability and friendly government policies, the country captured almost half of the lost market (40.5 per cent) from China and Vietnam in the last fiscal year.

Mobile phone exports from the country touched nearly $16 billion in FY24 from $11 billion in FY23. The overall electronic manufacturing in the country is expected to reach around $250 billion in the next five years.

(With inputs from IANS)

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September 10, 2024
Kia 1st in customer experience among automotive brands in India: Data

Kia 1st in customer experience among automotive brands in India: DataIANS

Kia has ranked first among automotive brands operating in India in terms of overall customer experience, the South Korean company said on Tuesday, citing local industry data.

Toyota and Tata Motors came in second and third, with 45.83 per cent and 44.35 per cent, respectively.

According to Kia, the company ranked first, with a score of 45.84 percent, in the overall customer experience index survey conducted by the Federation of Automobile Dealers Associations of India (FADA) recently, reports Yonhap news agency.

FADA is a reputable trade group in India with about 15,000 dealer members, collaborating with the local government and car manufacturers to release various market data.

The survey, conducted for the first time this year, gathered responses from over 8,000 participants, focusing on sales experience, service experience and product experience.

Kia India logged domestic sales of 22,523 units in August, a 17.19 per centIANS

A Kia official said the survey results reflect the company’s efforts to provide a satisfying experience to all customers since the establishment of the Indian subsidiary.

Meanwhile, Kia India logged domestic sales of 22,523 units in August, a 17.19 per cent YoY growth compared to the 19,219 units sold in the corresponding month of the last year. The new Sonet gained traction, with 10,073 units sold, informed the company.

Meanwhile, Kia set a new record in terms of monthly electric vehicle (EV) sales per brand in August, thanks to the successful market debut of the company’s new EV3 model.

According to auto industry tracker ‘CarIsYou’, the number of newly registered EVs produced by Kia last month totalled 6,398 units. The figure represents a 250 percent surge from last year and a 58.7 percent jump from the previous month.

(With inputs from IANS)

September 10, 2024