Tag Archives: facility

Featured

Volvo XC40 Recharge Becomes The 10,000th Model To Roll Out Of India Facility

The luxurious carmaker started domestically assembling automobiles at its Bengaluru facility again in 2017, beginning with the XC90

Volvo India crosses 10,000 unit production milestone in India

Volvo India has simply reached a major milestone, after rolling out 10,000 items from its native facility. The milestone-achieving mannequin was the Volvo XC40 Recharge electrical SUV.

Volvo’s History In India

The Swedish luxurious carmaker started assembling its fashions at its Bengaluru facility in 2017, beginning with the Volvo XC90. That mentioned, the Volvo XC60 has been essentially the most produced mannequin at its Indian manufacturing facility with over 4,000 items rolled out until date. It is essential to notice that these fashions should not solely manufactured in India, however solely assembled right here.

What Models Does Volvo Presently Produce Here?

Volvo C40 Recharge

Volvo presently assembles its complete India lineup on the Hoskote-based facility. This contains Volvo’s inside combustion engines (ICE) in addition to EV vary, comprising the XC60 and XC90 SUVs, S90 sedan, XC40 Recharge and the newly launched C40 Recharge.

Volvo’s India Plans Ahead

Volvo EX90

The carmaker has prior to now expressed its need to realize half of its gross sales from its EV portfolio in India by 2025. Its current India lineup consists of solely two EVs, particularly the XC40 Recharge and C40 Recharge. We count on it to widen quickly with the attainable inclusions of the brand new flagship EX90 and the all-new entry-level EX30 electrical SUVs.

For now, Volvo’s complete Indian lineup is priced between Rs 57.90 lakh and Rs 1.01 crore (ex-showroom pan-India).

Read More on : Volvo XC40 Recharge Automatic

Motorsport

Ineos Grenadier Quartermaster Truck Coming To US Early 2024

The Ineos Grenadier Quartermaster double cab pickup truck is currently being manufactured at the Ineos facility in Hambach, France. The first shipments of this truck for the United States are expected to be sent early next year, shortly after the initial deliveries of the Grenadier SUVs to North American customers. The truck will first be available to clients in Europe, with customers in Asia Pacific, Sub-Saharan Africa, and the Middle East receiving shipments soon after.

Named after the senior military officer responsible for supply and distribution, the five-seat double cab Quartermaster was developed simultaneously with the Grenadier Station Wagon. Both vehicles are manufactured on the same production line in Hambach, a facility that Ineos acquired from Mercedes-Benz in January 2021. This factory was previously used by Daimler to produce Smart cars.


Energy

How New York’s New MLS Stadium Plans To Go Fully Electric

The United Nations Environment Programme reports, “Building and managing a sport facility and operating an event uses energy and can contribute to air pollution, greenhouse gas emissions, and waste generation, as well as to ozone-layer depletion, habitat and biodiversity loss, soil erosion and water pollution.”

In 2016, FIFA confirmed its pledge to the UN Framework Convention on Climate Change (UN FCCC) during COP26 to produce net zero emissions by 2040. In line with this, FIFA promoted the Qatar World Cup as the first climate-neutral tournament in 2022. However, a year later, Reuters cited reports from the Swiss Fairness Commission, which claimed FIFA’s carbon neutrality claims during the 2022 World Cup were misleading. Carbon Market Watch estimated that the total carbon footprint of permanent stadiums constructed in Qatar could have amounted to 1.6 MtCO2e, eight times more than initially reported.

Among professional sports arenas, per Forbes, the Climate Pledge Arena became the first arena in the world to earn net zero carbon certification in 2023. Certified by the International Living Future Institute (ILFI), the home of the Seattle Krakens required a massive overhaul in its design to achieve this, such as ripping out natural gas piping and reinventing its cooling and heating processes.

By proving that fully electric stadiums are possible, NYCFC could potentially provide a framework for how to successfully build communities around sustainable sports arenas from scratch.

Featured

When Is Tesla Coming To India Really? Everything We Know So Far


Tesla could have a local manufacturing facility set up in the next two years to produce a made-in-India EV

Tesla cars

Back in June 2023 – when the Indian Prime Minister Narendra Modi visited the US – Tesla’s founder, Elon Musk, had met him and confirmed that the EV marque will set foot in India. Fast forward to November and that’s yet to happen but it now seems much more on track. Here’s everything that’s known about Tesla’s India arrival so far:

Possible Reduction In Import Taxes

2024 Tesla Model 3

The discussion around the Indian government’s import rates has been long discussed, which has also been the key reason in the EV maker’s delayed Indian arrival. It now seems that global brands like Tesla could benefit from tax reduction for a period of five years as the Indian government authorities have reportedly agreed upon but only if these EV makers commit to setting up local manufacturing in India.

Local Manufacturing To Be Set Up Soon

Tesla Model Y

There have also been talks about the American EV maker setting up a local manufacturing plant in India within the next two years. Gujarat, Maharashtra and Tamil Nadu are the states that are the frontrunners for having the Tesla facility being established, with a reported investment of more than Rs 16,000 crore.

First Few Models To Be Imports

Given the time that Tesla could take to have a manufacturing hub in India, it is quite possible that the EV maker will first start by importing some of its global products here. While it was eyeing bringing electric cars from China, the recent cross-border tensions are likely to push Tesla to import models from its Germany plant.

Also See: Mahindra XUV.e9 Will Share The Same Cabin As The Mahindra XUV.e8

A New EV In The Making

Tesla's upcoming entry-level EV

In early 2023, we got to know that there’s a new entry-level electric vehicle being developed by Tesla. This upcoming EV is set to become Tesla’s smallest and most cost-effective model, likely named the ‘Model 2.’ Based on the teaser, it appears to be a tall crossover with a steep roofline and prominent shoulder line. Its design is expected to borrow elements from Tesla’s Model Y and Model 3, the larger models in the lineup.

Which Ones Will Come To India First?

We think models such as the Tesla Model 3 and Tesla Model Y could come to India first via the import route, and both were spied on test a few times already. If reports are to be believed, Tesla could also introduce a small made-in-India EV, which could be priced around the Rs 20-lakh mark (ex-showroom).

When do you want to see Tesla cars on our roads and which one do you think should come first? Let us know in the comments.

Featured

Toyota To Set Up A Third Manufacturing Plant In India By 2026


The new facility will also be built in Karnataka with an estimated investment of around Rs 3,300 crores

Toyota Hycross front

Toyota, the top-selling Japanese carmaker in India, has recently signed a Memorandum of Understanding (MoU) with the government of Karnataka to extend its operations with new investments. Toyota Kirloskar Motor will establish a new manufacturing facility at a cost of about Rs 3,300 crores.

This will mark Toyota’s third plant in India, located in Bidadi on the outskirts of Bengaluru, near the existing two plants. The new facility is designed to increase the carmaker’s production capacity by 100,000 units per year and is scheduled for completion in 2026. While specific models to be manufactured at this new plant are yet to be confirmed, it is known that the Toyota Innova Hycross will be one of them. Although Toyota’s focus on electric vehicles in India is not as strong as some other manufacturers, it is likely that the new plant will be capable of producing them as well.

Commenting on the development, Masazaku Yoshimura, Managing Director and Chief Executive Officer of Toyota Kirloskar Motor, stated, “As a further boost to the company’s contribution to “Make-in-India”, we are very pleased to state that the new investments will enhance TKM production capacity by 100,000 units and add around 2,000 new jobs. The new development also brings with it the potential for further growth in the supplier ecosystem. As we celebrate TKM’s 25 years in India, this journey is a testament to the passion, hard work and dedication of our Toyota team and various stakeholders. I thank and congratulate each of them for their valuable contribution in creating a sustainable future for all, with no one left behind.”

Toyota distinguishes itself in the Indian market by offering robust hybrid powertrains in models such as the Urban Cruiser Hyryder SUV, Hycross MPV, Camry premium sedan, and Vellfire luxury MPV. Additionally, its well-loved models like the Innova Crysta and Fortuner continue to enjoy a strong following. Moreover, collaborations with Maruti Suzuki for models like the Glanza hatchback, Rumion MPV, and the upcoming Maruti Fronx based crossover further contribute to its market share. The increased capacity could also help Toyota address high waiting periods in the future.

Motorsport

McLaren Opens Its Largest Standalone Showroom Ever In Dubai

McLaren has recently inaugurated its biggest standalone showroom in Dubai, setting a strong presence in the brand’s largest market in the region. The impressive facility, spanning 10,225 square feet (950 square meters), is situated alongside McLaren’s largest service center.

With over 100 locations in more than 40 markets worldwide, this new showroom showcases a vast display gallery and houses the McLaren Special Operations (MSO) studio, enabling customers to create custom-made designs and personalized commissions.


Motorsport

Audi’s New Vehicle Safety Center Opens in Germany

Audi has recently unveiled its new Vehicle Safety Center at its technology park in Ingolstadt, Germany. This state-of-the-art facility will enable the automaker to conduct a variety of crash tests before introducing new car models to the market.

The construction of the facility took three years and cost approximately 100 million euros ($107 million). It currently employs around 100 staff members. Audi has designed the center to meet not only today’s crash standards but also future requirements that may arise in different markets.


Motorsport

BMW’s Automated Driving Testing Facility is Now Open

BMW has recently unveiled its largest testing facility, a 1,400-acre site in Sokolov, Czech Republic, dedicated to the advancement of automated driving technologies. This Future Mobility Development Center aims to transform the former mining region into a technology hub. The inauguration ceremony was attended by local officials and Frank Weber, BMW Group’s Board Member for Development.

The test site, which required an investment of approximately $330 million, already employs over 100 skilled workers. BMW claims that the Sokolov facility offers ideal conditions for both simulated and real-world testing of automated driving systems. It joins BMW’s other testing sites located in Aschheim near Munich, Miramas in France, and Arjeplog in Sweden.


News

Ola Electric Starts Construction On New Gigafactory Facility In India

# Ola Electric Starts Construction On New Gigafactory Facility In India

On June 21, 2023, Ola Electric announced that it was beginning the construction of its new Gigafactory facility in Tamil Nadu, India. To commemorate this milestone, the company held a ceremony and shared a video of the installation of the first pillar of the new construction on its official Instagram account.

Once completed, the new Ola Electric Gigafactory facility will cover an area of 115 acres and will add to the manufacturing capacity of the company’s first manufacturing hub called Futurefactory. The company aims to have the Gigafactory fully operational by early 2024 if everything goes according to plan. Given Ola Electric’s track record of building the 500-acre Futurefactory and quickly starting manufacturing operations, achieving this goal seems feasible.

In addition to the Gigafactory construction, Ola Electric has been keeping itself in the news with the upcoming launch of its new S1 electric scooter, which its CEO Bhavish Aggarwal has been teasing. This, along with its impressive manufacturing expansion plans, will help the company maintain its position and attract more riders and potential customers in India.

However, Ola Electric also faces challenges as it continues its growth in line with India’s electrification goals. The company’s social media channels reveal some customer complaints about its services and products, although the company promptly responds to these comments with direct messages, promising to address the issues.

While the company initially focused on electric two-wheelers, it also made headlines in February 2023 when it announced plans to invest $920 million in the production of its own electric cars and batteries. All of these vehicles, including two-wheeled and four-wheeled ones, will be manufactured in Tamil Nadu. Ola Electric aims to produce 140,000 electric cars per year once it reaches full production capacity. Furthermore, the company has expressed interest in expanding beyond India’s EV market and exploring opportunities in neighboring countries like Nepal, Southeast Asia, Latin America, and the European Union.

Ola Electric’s current hashtag of choice is #EndICEAge, underscoring its commitment to replacing internal combustion engines with electric vehicles. As the company’s journey continues, we will provide updates on any future developments.

Related articles:
1. [Indian EV Manufacturer Ola Electric Set To Begin IPO Discussions](https://www.rideapart.com/news/672340/ola-electric-ipo-update-2023/)
2. [Ola Electric Launches New Variants For S1 And S1 Air Scooters](https://www.rideapart.com/news/651822/ola-electric-s1-s1air-battery-variants/)

BMW

BMW Group successfully completes €8bn revolving credit facility

Munich. The BMW Group has signed a €8.0 billion syndicated revolving credit facility (RCF) with a tenor of five years and two one-year extension options.

A total of 43 international and regional banks from Europe, America and Asia have taken part in the transaction. With BNP Paribas, Citi and Deutsche Bank as coordinating bookrunners, the BMW Group has replaced the existing RCF of €8.0 billion signed in 2017.

For the first time, the BMW Group has consistently presented its strategic focus on sustainability within the syndication process: First, it handed a newly developed, comprehensive sustainability factsheet over to the banks involved to provide transparent information on its progress and goals. In a second step, the BMW Group issued questionnaires to the lenders, aiming at reflecting the outside-in perspectives of its sustainability performance, providing impetus for the continuous further development of sustainability communications.

“At the BMW Group, sustainability is practiced in its three facets -economically, ecologically and socially. It is present in the various divisions of the company, its goals are omnipresent, and sustainability is the focus of our long-term strategy. For the first time, we have comprehensively revealed our corresponding activities in a global financing process,” said Walter Mertl, Chief Financial Officer of BMW AG in Munich on Wednesday. “For us, sustainability means more than just achieving selected key figures. Our cross-company approach goes far beyond that, and we present our progress transparently and comprehensibly for the capital market and the public.”

The syndication process was completed by an exchange of the participating banks with the company’s sustainability experts, who explained and made transparent in more detail the strategic direction and sustainable transformation of the BMW Group.

The syndicated revolving credit line is one of the standard financing instruments of BMW Group Corporate Finance and serves to secure short-term access to liquidity. In the history of the company, the RCF has never been drawn.

If you have any questions, please contact:

 

BMW Group Corporate Communications

Britta Ullrich

Spokesperson Finance

Telephone: +49 89 382-18364

Email: britta.ullrich@bmwgroup.com

Eckhard Wannieck

Head of Corporate, Finance and Sales Communications

Telephone: +49 89 382-24544

Email: eckhard.wannieck@bmwgroup.com

Media website: www.press.bmwgroup.com

Email: presse@bmwgroup.com