Forbes documents the top ten most significant changes that India has witnessed from 2010 to 2017. Read a lightly edited summary of these below: 1) Emerging as one of the largest economies The recent economic expansion noted in India has brought a record number of people out of poverty. A...
Gujarat Leads Race to Manufacture Electric Vehicles in India
With the Government of India's initiative to put 1 million electric vehicles on the roads by 2019 , car and bike makers are preparing to manufacture electric and hybrid systems. The western state of Gujarat is set to become the electric vehicle hub of India. Ford Motor Co., which has...
India Pushes Auto Industry to Make Electric Vehicles
India's is pushing auto part and car makers to draw up plans to electrify all new vehicles by 2030. India's minister for road transport, Nitin Gadkari, asked companies to start building electric and alternative fuel vehicles or risk being overtaken by policy changes. Maker of engines, Cummins India, is investing...
Warburg Pincus to Invest in India's Tata Technologies
New York-based private equity firm Warburg Pincus will invest $360 million in Tata Technologies for a 43 percent stake, of which 30 percent will be acquired from Tata Motors, the parent company, and 13 percent from Tata Capital. Tata Technologies provides outsourced design, research and development services to the automotive, aerospace,...
Global Automakers Seek Partnerships and Mergers in India
Germany's Volkswagen and India's Tata Motors signed a memorandum of understanding to develop components, and possibly new vehicles. Volkswagen's Skoda Auto AS will join the project on behalf of the German automobile group. Volkswagen CEO Matthias Mueller said the partnership would help it "achieve sustainable and profitable growth in very different...
Tata Motors Launches Fuel Cell Powered Bus
Headquartered in Mumbai, India's largest automobile maker, Tata Motors, showcased its most recent vehicle: the hydrogen powered "Starbus", a zero-emission mass transport solution, for inter-city commutes. This bus, developed in partnership with India's Space Research Organization, works by combining hydrogen and oxygen in a fuel cell. The fuel cell produces...