Kia held a ceremony for the Kia Gwangmyeong EVO Plant, located at Kia Autoland in Gwangmyeong, just south of Seoul. The plant is tasked with mass-producing Kia’s new EV3 and upcoming EV4 models.

According to Yonhap news agency, Kia invested 401.6 billion won ($304.2 million) in the 60,000-square-meter facility, completely rebuilding it on an existing plant site to facilitate its next-generation vehicle production.

Around 150 guests attended the event, including Choi Jun-Young, executive vice president and head of domestic production at Kia, and Gwangmyeong Mayor Park Seung-won.

The EVO Plant is characterised by the theme of pursuing maximum change through minimal expansion, considering its location in the city centre and other environmental factors, such as the protection of green spaces. This innovative approach is sure to pique the interest of automotive enthusiasts.

In addition, the plant has been constructed with a full-scale conversion to electrification in mind, focusing on eco-friendly and worker-friendly elements.

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The brand’s compact all-electric SUV, the EV3, began mass production in the first half of this year. In the first half of 2025, Kia plans to introduce the EV4, the brand’s upcoming mid-sized electric sedan, a model that is sure to excite and captivate the automotive world.

Choi said in a welcoming speech that the plant’s completion “solidifies Kia’s first step as an EV leader following the company’s brand relaunch in 2021.”

“To provide sustainable mobility solutions, we will lead innovation in the EV market and fulfill our responsibilities in helping to deliver a sustainable future,” he added.

Meanwhile, Hyundai Motor and Kia have launched a joint project to develop cathode material technology for producing electric vehicles’ LFP (lithium iron phosphate) batteries. The joint project, which also involves Hyundai Steel and Ecopro BM, aims to develop a technology for synthesising materials directly without using precursors while manufacturing LFP battery cathodes.

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—IANS

Intraday, Sensex and Nifty hit new all-time highs of 85,930 and 26,250, respectively.

In the Sexsex pack, Maruti Suzuki, Tata Motors, Bajaj Finserv, M&M, Tata Steel, JSW Steel, UltraTech Cement, Bajaj Finance, Nestle, Sun Pharma, HUL, SBI, Wipro, Asian Paints, ITC, and IndusInd Bank were the top gainers. Only L&T and NTPC closed in the red.

The Nifty Smallcap 100 index closed 96 points or 0.50 per cent lower at 19,261, and the Nifty Midcap 100 index closed marginally higher by 4 points at 60,469.

The sectoral indices—auto, IT, PSU Bank, fin service, pharma, FMCG, metal, and commodity—were major gainers. Only the consumer durable index is closed in red.

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Rupak De, Senior Technical Analyst at LKP Securities said: “The Nifty has broken out of consolidation on the daily timeframe, indicating increasing bullish momentum. The sentiment is expected to stay positive as the index closed above a key moving average. A drop below 26,000 might disrupt the current bullish trend, but until then, the strength will likely persist in the index.”

Other market experts maintained that China’s recent economic stimulus announcement has greatly enhanced investor confidence, resulting in significant positive momentum in global markets, especially within Asian indices. Moreover, they said the market is maintaining an optimistic outlook in response to stable US economic data. Concurrently, the Indian market is reaching new highs, anticipating a strong recovery in corporate earnings for the H2FY25, fuelled by expected government expenditure, they added.

Foreign institutional investors (FIIs) extended their selling by selling equities worth Rs 973 crore on September 25, while domestic institutional investors extended their buying by buying equities worth Rs 1,778 crore on the same day.

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–IANS

Police said the accident occurred around 5:45 a.m. on an upscale Golf Course Road in DLF Phase-2.

The footage, also circulated widely on social media, shows the biker riding his bike at a high speed and crashing into the SUV.

The victim was identified as Akshat Garg from Pochanpur in New Delhi’s Dwarka. He was riding his motorcycle wearing safety gear, including a helmet and gloves.

His friend, 22-year-old Pradyuman Kumar, was riding 100 feet behind him on another motorcycle. Kumar’s GoPro camera captured the crash.

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The SUV driver, Kuldeep Kumar Thakur (25), is a Ghitorni resident and the co-founder of a PR company.

The 17-second video shows Garg speeding as he tries to take a turn, only to be hit by a black SUV, which causes a loud crash.

The SUV driver was arrested but was released on bail almost immediately.

“Akshat was taking a slight turn when a Mahindra XUV 3XO suddenly appeared from the wrong side and collided with the bike head-on. The impact was such that Akshat was thrown off his bike behind the car. The front of the SUV was wrecked,” Kumar told the police, highlighting the suddenness of the tragic event.

Commuters quickly gathered at the scene, and emergency services were notified. An ambulance arrived promptly and took Garg to a nearby hospital, but doctors declared him dead on arrival, underscoring the urgency of the situation.

Garg and Kumar had set out from different locations—Garg from Dwarka and Kumar from New Palam Vihar—with plans to meet a group of riders at Ambience Mall after departing from DLF Downtown.

While speaking about the accident, Sandeep Kumar, spokesperson for the Gurugram police, said, “Neither the car driver nor Garg had any chance to avoid the collision.”

“The impact flung Garg above the car, and his motorcycle was mangled beyond recognition,” he added, underscoring the severity of the collision.

“An FIR has been registered under relevant sections of BNS (Bharatiya Nyaya Sanhita). The accused has been arrested and later released on bail as per law,” he said.

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–IANS

According to Kay Hart, President of Ford International Markets Group, the move is intended to “underscore our ongoing commitment to India as we intend to leverage the manufacturing expertise available in Tamil Nadu to serve new global markets.”

In a LinkedIn post, she said the company has submitted a letter of intent (LOI) to the “government of Tamil Nadu in India, outlining Ford’s intention to utilise our Chennai plant for manufacturing for export.”

The decision follows multiple meetings with the Tamil Nadu government.

“We appreciate their ongoing support as we have explored different options for the plant. I know people will be curious, but we will have more to share about the type of manufacturing and which export markets we’ll be focusing on, along with other details, in due course,” Hart mentioned.

Ford Motor stopped operations in India in 2021 due to low sales and financial losses in the fiercely competitive domestic car industry.

MK Stalin, Tamil Nadu Chief Minister, stated on the X social media platform that he had a very engaging chat with the Ford Motor staff.

“Explored the feasibility of renewing Ford’s three-decade partnership with Tamil Nadu, to again make in Tamil Nadu for the world,” he said. The Chief Minister also visited the headquarters of Google, Apple, and Microsoft and entered into MoUs with these tech giants for investments in Tamil Nadu.

According to Hart, the decision will add to Ford’s growing employee base in Chennai.

“Our global Ford Business Solutions team based there is already more than 12,000-strong, and we are planning to increase that by another 2,500 to 3,000 team members in the next few years,” said Hart.

Ford also has an engine manufacturing team in Sanand, Gujarat. India is the US automaker’s second-largest global employment base.

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–IANS

Pawan Goenka, chairman of IN-SPACe at the Department of Space, says India’s automotive industry is poised to be one of the key growth engines for achieving a $32 trillion GDP by 2047.

Addressing the Automotive Component Manufacturers Association (ACMA) event in the national capital, he said the automotive industry could contribute $1.6 trillion by 2047.

The auto sector also significantly contributes to the country’s direct and indirect employment generation; Goenka further said that the auto industry would contribute more and more to the country’s GDP from the current level of around 6.8 percent. Over the last two decades or so, the industry has grown by a 17 percent CAGR.

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The Society of Indian Automobile Manufacturers (SIAM) President Vinod Aggarwal said that the domestic auto industry had identified 50 critical components for local production in order to reduce import dependence.

He added that as most of these items are electrical or electronics, India needs to develop capabilities and capacities for such high-tech items.

Aggarwal told the gathering that the Indian automotive industry crossed the landmark figure of Rs 20 lakh crore in FY24 and is contributing almost 14-15 percent of the total GST collected in the country.

SIAM, along with ACMA, has voluntarily set targets for increasing localisation. The industry bodies are committed to reducing import content by 60 percent to 20 percent by 2025 from the base 2019-20 levels, thereby targeting reduced reports of Rs 20,000 to Rs 25,000 crore in five years.

The country has become the third-largest market for passenger vehicles, two- and three-wheelers, and commercial vehicles.

As the country’s adoption of EVs increases, the cost of EVs will almost match the cost of petrol and diesel vehicles within the next two years, Union Minister for Road Transport and Highways Nitin Gadkari said earlier at the event.

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–IANS

The annual EV Index by HERE Technologies and SBD Automotive found that Chandigarh leads with an impressive score of 81.9.

Chandigarh’s success can be credited to its extensive Zero Emission Vehicle (ZEV) deployment plan, which offers significant incentives for EV purchases and the building of charging infrastructure.

According to the research, this deliberate approach has resulted in Chandigarh being ranked first overall and having the most chargers per battery electric vehicle (BEV), with 148 chargers serving a relatively tiny population of 179 BEVs.

In terms of fleet penetration, Rajasthan has the greatest percentage of BEVs among its vehicle population, at 0.049 percent.

On the other hand, Uttar Pradesh proudly boasts the largest BEV fleet in the country, with about 18,300 EVs currently on the road. The report underlines the state’s significant role in driving the national transition to electric mobility.

Automakers, energy companies, and governments are all deeply invested in a collaborative effort to develop the charging infrastructure essential for the future of electric mobility.

“This herculean effort requires seamless coordination, not just among the industry players, but also with consumers, to ensure that demand for EVs is balanced with supply of both vehicles and charging options,” said Robert Fisher, Electrification and Sustainability Principal at SBD Automotive.

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He added that government incentives and consumer education will continue to play a significant role in accelerating the transition as the market moves beyond early adopters and into the majority.

With approximately one charger for every 12.5km of road, Delhi ensures that EV drivers have easy access to charging facilities, addressing one of the key barriers to widespread EV adoption – range anxiety.

Among states with a significant number of chargers, Chandigarh once again excels, with an average power capacity of 46 kW across its 148 chargers. This makes it a model for other regions aiming to improve their charging infrastructure.

Abhijit Sengupta, Senior Director and head of business for India and Southeast Asia at HERE Technologies said this index empowers policymakers, industry leaders, and consumers to make data-driven decisions that will accelerate the adoption of EVs in the country by spotlighting both strengths and areas for improvement across states.

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–IANS

This also indicates the ‘generational mindset’ shift shifting ‘generational mindset’ in India is fuelling the growth in luxury goods consumption, and super-expensive cars are no exception.

Industry experts say 1,200-1,300 luxury cars will likely be sold in the Indian market this year. In 2023, sales in the top-end car segment more than doubled to 1,000 units.

According to reports, Lamborghini has sold all cars allocated for the Indian market from its Italian headquarters. Its cars, such as Huracan, Urus, and Revuelto, cost between Rs 5 crore and Rs 10 crore.

Other luxury brands like Ferrari, McLaren, and Aston Martin are also seeing robust growth. Mercedes-Benz and Audi luxury models now have waiting periods of up to a year, and prices range from Rs 2.5 crore to Rs 4.5 crore.

Aston Martin recently launched the new sports car ‘Vantage’ at Rs 3.99 crore (ex-showroom) in India. According to the automaker, it boasts a muscular physique and unmistakable presence, with design cues inspired by Aston Martin’s legendary One-77 supercar.

BMW Group India has achieved a remarkable performance in the January-June period, witnessing a substantial boost of over 21 percent in car sales. This growth is fuelled by the high demand for its sports activity vehicles, luxury class, and electric cars, a testament to the brand’s strong presence in the Indian market.

BMW luxury-class vehicles registered a growth of over 17 percent, contributing 18 percent to total sales. The BMW X7 was the highest-selling luxury-class model.

According to Vikram Pawah, President of BMW Group India, the strong affinity for our vehicles is driven by our competitive edge in exclusive mobility paired with unmistakable driving pleasure and best-in-class innovations.

German luxury car manufacturer Audi recently launched two new cars in India under its Bold Edition: the Q3 and Q3 Sportback.

According to Knight Frank’s latest wealth report, India is likely to see more ultra-wealthy individuals. Those possessing a net worth exceeding $30 million will reach 19,908 by 2028, up from 13,263 in 2023.

–IANS

Electric vehicle (EV) players on Friday welcomed the Bureau of Indian Standards' (BIS) move to issue new performance standards for lithium-ion batteries to safeguard the consumers amid the rising EV fire episodes in the country.

The BIS, which comes under the Union Consumer Affairs Ministry, has published the "performance standards for electronic vehicle batteries" in a bid to keep a strict control over the manufacturing of EV batteries.

"There has never been a better time for the BIS performance standards for EV batteries to be implemented. I am confident that these standards will ensure that only the best and most secure batteries reach Indian consumers in the long run," Log9 Materials CEo and co-founder Dr Akshay Singhal said.

Log9 Materials is an advanced battery technology and deep-technology startup headquartered in Bengaluru. It recently launched India's first cell manufacturer line which is South Asia's largest battery cell manufacturing plant.

The new BIS standard called "IS 17855: 2022" has been designed for lithium-ion traction battery packs and systems of electrically-propelled road vehicles.

"This standard incorporates the test procedure for basic characteristics of performance, reliability and electrical functionality for the battery packs and system for either high power or high energy application," according to the ministry.

The standard for these battery packs and systems is harmonised with 'ISO 12405-4: 2018'.

"This standard is formulated considering real life scenarios for an electric vehicle such as vehicle is in parking (battery is not used for extended period of time), battery system is being shipped (stored), operating battery at low and high temperature etc., accordingly various tests are incorporated in this standard," the ministry said in a statement.

EV charging network provider Statiq CEO Akshit Bansal told IANS that the recent spate of fire incidents related to EVs are making consumers conscious and they should be.

"I believe that EV batteries need a little more research before they go to market. EV manufacturing companies are in the process of building trust among users but such incidents have really brought the issue to everyone's notice and this battery issue needs to be sorted out urgently," he said.

"This BIS move is welcome and improving battery standards is the demand of the times," Bansal added.

The BIS standards came as the government ordered a probe into Tata Motors' Nexon EV fire incident in Mumbai.

The Defence Research and Development Organisation (DRDO), which was earlier tasked with investigating electric two-wheeler fire incidents by the Union Road Transport and Highways Ministry, would lead the probe into Nexon EV fire.

The DRDO probe earlier found serious defects in the electric two-wheeler batteries. These defects occurred because the electric two-wheeler manufacturers like Okinawa Autotech, Pure EV, Jitendra Electric Vehicles, Ola Electric, and Boom Motors may have used "lower-grade materials to cut costs".

The new BIS standards for EV batteries will look into "size, connectors, specification and minimum quality of cells, the battery's capacity".

"Further, keeping a view on the safety aspect of batteries for EV, Bureau of Indian Standard is in the process of publishing two more standards related to batteries for various passenger and goods carrying vehicles (L, M and N category)," it said.

Earlier, NITI Aayog in a discussion paper also stressed upon the need for BIS standards as the first step towards the national battery swapping policy.

The Consumer Affairs Ministry said that safety and performance are two critical aspects of electronic devices.

"The requirement of battery systems for use as a power source for propulsion of vehicles are significantly different from the battery used for consumer electronics or stationary use," the ministry added.

ians

Automobiles in India will get star ratings based on their performance in crash tests, said Nitin Gadkari, Union Minister for Road Transport and Highways on Friday.

Approving the Draft GSR Notification to introduce Bharat NCAP (New Car Assessment Programme) for awarding Star Ratings based on their performance in crash tests, Gadkari said Bharat-NCAP will serve as a consumer-centric platform allowing customers to opt for safer cars based on their ratings.

It will also promote healthy competition among original equipment manufacturers (OEM) in India to manufacture safer vehicles.

The Minister said Star Rating of Indian cars based on crash tests is extremely crucial not only to ensure structural and passenger safety in cars, but to also increase the export-worthiness of Indian automobiles.

He said the testing protocol of Bharat NCAP shall be aligned with Global Crash Test Protocols factoring in the existing Indian regulations, allowing OEMs to get their vehicles tested at India's own in-house testing facilities.

Gadkari said Bharat NCAP will prove to be a critical instrument in making our automobile industry Aatmanirbhar with the mission of making India the number one automobile hub in the world.
 

ians

In a first such case involving an electric car in India, a Tata Nexon EV caught fire in Mumbai and the company said on Thursday it was probing the "isolated thermal incident".

The EV car fire incident was reported from Vasai West (near Panchvati hotel) in Mumbai late on Wednesday, and the video of the Tata Nexon EV engulfed in fire went viral on social media.

The company said in a statement that a detailed investigation is currently being conducted to ascertain the facts of the recent isolated thermal incident that is doing the rounds on social media.

"We will share a detailed response after our complete investigation. We remain committed to the safety of our vehicles and their users," it added.

Tata Nexon EV is the highest selling electric car in India and at least 2,500-3,000 cars are being sold every month in the country.

The company has so far sold over 30,000 Nexon EVs.

According to the video, the owner of the car charged his Nexon EV with a normal slow charger installed at his office.

After driving about 5 km towards his house, he heard some weird sounds from the car and saw flashes of warnings on the dashboard which alerted him to stop the vehicle and get out of the car, media reports said.

Later, firefighters were seen spraying water on the burning Nexon EV.

"This is a first incident after more than 30,000 EVs have cumulatively covered over 100 million km across the country in nearly four years," said the company.

Several electric two-wheelers have caught fires owing to battery explosions in the country, leading the government to launch a probe into the incidents involving EV makers such as Ola Electric, Pure EV, Jitendra EV Tech, Ather Energy and Okinawa.
 

ians