Latest news with #ShaileshChandra
Time of India
09-06-2025
- Automotive
- Time of India
SIAM hosts conference on circular mobility on World Environment Day
The Society of Indian Automobile Manufacturers (SIAM) held its 5th International Conference on the occasion of World Environment Day , focusing on circular mobility and sustainable practices in the automotive sector . The event featured discussions across government, industry and research stakeholders on waste management, plastic reduction , recycling, and low-emission technologies. The programme included a street play on plastic pollution by school students and a prize ceremony for a student painting competition titled Nature's Palette, recognising nine participants from Delhi NCR. Industry and policy interventions The inaugural session centred around waste management aligned with Mission LiFE. Shailesh Chandra, President of SIAM and Managing Director of Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility, outlined three key requirements to support the circular economy: a robust policy framework for lightweighting and lifecycle management, an incentive-based scrappage ecosystem, and improved recycling infrastructure. Hanif Qureshi, Additional Secretary, Ministry of Heavy Industries, said India had reached 20 per cent ethanol blending and that 11 companies were developing flex-fuel engines . He also announced the launch of an electric truck programme, backed by ₹500 crore, and confirmed that India would deploy 14,000 electric buses. Other initiatives include promoting electric ambulances, compressed biogas, hydrogen and flex-fuel vehicles. Sector-focused technical sessions Three thematic sessions were also conducted during the event-- Plastic and Materials Circularity, Tyre and Oil Recycling and Battery and E-Waste SIAM Executive Director Prashant K. Banerjee said the automotive sector was progressing across electrification, biofuels and hydrogen-based transport. Director General Rajesh Menon reaffirmed SIAM's commitment to cleaner mobility and circularity.
Hindustan Times
08-06-2025
- Automotive
- Hindustan Times
Indian auto industry welcomes RBI's rate cut move, hopes for enhanced consumer affordability
The Indian automobile industry believes the RBI's decision to reduce the repo rate will add positive sentiment among consumers in the market. (AFP) Notify me The Automobile industry has supported the Reserve Bank of India's rate-cut decision, and they believe that this decision will add positive sentiment among consumers in the market. On Friday, the RBI reduced the repo rate by 50 basis points to 5.5 per cent. The central bank also cut the Cash Reserve Ratio (CRR) by 100 basis points to 3 per cent. The CRR cut will be implemented starting September 6, in four tranches of 25 basis points each in four fortnights. The CRR cut alone will infuse a liquidity of ₹ 2.5 lakh crore in the Indian banking system. Shailesh Chandra, President, SIAM and Managing Director of Tata Passenger Vehicles Ltd & Tata Passenger Electric Mobility Ltd., welcomed the RBI's decision of a 50 bps repo rate cut. He said, "Such a reduction in repo rates would have a positive impact on the Auto sector since it would lead to increased accessibility to finance at reduced costs, thereby creating a positive sentiment amongst the consumers in the market." Anish Shah, Group CEO & MD, Mahindra Group, supported the decision of the RBI to reduce rates at a time when the Indian economy is poised for its next phase of growth. "This move demonstrates the RBI's confidence in the macroeconomic fundamentals and its proactive approach to supporting sustainable expansion. The rate cut will serve as a positive catalyst for consumption and investment, particularly in interest-sensitive sectors such as automobiles, housing, and MSMEs. It will also ease borrowing costs, improve liquidity, and further strengthen the momentum behind India's infrastructure and manufacturing push," Anish Shah said Additionally, Venkatram Mamillapalle, Country CEO & Managing Director, Renault India, believes that this rate cut is a timely move and says that this move will add to customer affordability. "This policy is expected to strengthen liquidity and accelerate the transmission of lower interest rates to consumers, which will spur demand in the economy. For the automotive sector, this translates directly into improved access to affordable vehicle financing, especially in the entry and mid-level segments," he said. Furthermore, he mentions that he is optimistic about positive growth in the auto industry for FY2025- 26, powered by favourable macroeconomic indicators, strong fundamentals, and evolving consumer confidence. "The RBI's proactive measures are poised to spur automotive retail, enhance customer affordability, and strengthen the economic cycle," he further added. Federation of Automobile Dealers Associations (FADA) vehicle retail sales data for May, released on Friday, show a modest rise of 5 per cent compared to the same month last year. FADA also said that global supply-chain headwinds--from rare-earth constraints in EV components to ongoing geopolitical tensions--may keep urban consumer sentiment in check. RBI's rate cut and CRR cut will be a major boost for the Industry. Get insights into Upcoming Cars In India, Electric Vehicles, Upcoming Bikes in India and cutting-edge technology transforming the automotive landscape. First Published Date: 08 Jun 2025, 10:28 AM IST
Mint
07-06-2025
- Automotive
- Mint
Tata Motors, JLR flag EV supply chain as a separate business risk. They don't name China, but its imprint is all over.
New Delhi: Tata Motors Ltd and Jaguar Land Rover have separately highlighted risks to their electric vehicle business for the first time ever, including potential production delays and shortages, likely as a result of China's stranglehold over the EV supply chain. Introducing a new element in their annual report's principle risks segment, titled 'electrification transition', Mumbai-based Tata Motors and its UK-based subsidiary JLR have both underscored the threat of financial losses if the transition to clean technology is not carefully managed. 'Unmanaged supply chain issues can lead to production delays and shortages," the companies said in their annual reports for 2024-25 without mentioning any specific potential trigger. No other homegrown automaker has mentioned electric transition as a separate business risk in their annual report. The disclosures in Tata Motors's and JLR's annual reports come as automakers globally are grappling with China's export restrictions on rare earth magnets. India's auto sector has conveyed to the Union government that production cuts could begin as early as this month if China doesn't resume exports of rare earth magnets, which are used to make electric motors and other parts for EVs. They also flagged that while China has resumed exports of rare earth magnets to foreign companies, applications by Indian automakers remain stuck. As per several estimates, China controls about 80% of the global lithium-ion battery market and about 90% of the global supply chain for rare earth magnets. 'There is a need for the magnets for both EVs and ICE (internal combustion engine) vehicles," Shailesh Chandra, managing director at Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility, told Mint in an interview. 'Different OEMs (original equipment manufacturers, or carmakers) are in different positions with respect to the stock of the magnets." For the long-term, Tata Motors and JLR are investing towards increasing their capacity to manufacture key components. 'To support this electrification, Tata Group's Agratas is to construct the UK's largest battery cell facility in Somerset, which will provide high-performance battery cells for our new electric models," Jaguar Land Rover noted in its annual report. 'Additionally, we are making significant continued investment in upgrading our core facilities and supply chain for electrification." Agratas Energy Storage Solutions Pvt. Ltd is the Tata Group's battery business, with Tata Motors and JLR as its anchor customers. Also read | China's restriction on rare earth magnets repel Indian EV players China's shadow Tata Motors has raised concerns even earlier about its electric vehicle business's direction in international markets, but that was due to a demand slowdown in Europe and the US. 'Given the uncertainty around the pace of EV adoption in key markets, the company may need to extend the life of its ICE platforms beyond the originally planned timeline. It may also consider launching new ICE variants in the future," analysts at Motilal Oswal wrote in a 11 March note. In its latest annual report, Tata Motors has also highlighted its efforts to localise the battery supply chain that is currently dominated by China. Tata Motors's lead in the electric vehicles segment is being aggressively challenged by MG Motor India, Mahindra & Mahindra Ltd, and Hyundai Motor India Ltd, with its domestic EV market share dropping to 55.4% in 2024-25 from 73.1% in FY24 and 84% in FY23. Experts believe the looming shadow of China on the EV supply chain is an identified risk factor for automobile companies. 'Whether it's batteries or magnets, China has established a dominant lead in the supply chain, which is bound to be a risk for domestic and global OEMs," said Abhishek Saxena, former public policy expert at government think-tank Niti Aayog. 'The current magnet crisis shows that supply concentration can have a business impact." Also read | Indian auto stuck in queue as China clears rare earth magnets for others After US President Donald Trump in April announced reciprocal tariffs on countries across the world, China began restricting the export of rare earth magnets. The Chinese government has started asking for end-user certificates declaring that the products made using its rare earth magnets will not be used for defence purposes. But, as per automakers, the process to obtain the certificates is long and arduous, requiring multiple layers of approvals from provincial governments in China and the Chinese commerce ministry. 'Stocks are fast depleting. So far, 30 applications have been submitted to China, but none has received final approval. The Chinese government has said that final approvals will take about 45 days," Rakesh Sharma, executive director at Bajaj Auto Ltd, said during a post-earnings media call on 29 May. Bajaj Auto has warned about severe production cuts starting July if the rare earth magnet issue isn't resolved.
Economic Times
06-06-2025
- Automotive
- Economic Times
RBI rate cut to positively impact automobiles sector
New Delhi, The decision of the Reserve Bank to cut policy rate by 50 basis points will have a positive impact on the automobile sector as it will make loans cheaper, industry body SIAM said on Friday. The RBI on Friday cut repo rate by a higher-than-expected 50 basis points to prop up growth, which has slowed to a four-year low of 6.5 per cent in FY25. Following the rate cut, the key policy rate eased to a three-year low of 5.5 per cent, providing relief to home, auto and corporate loan borrowers. "Such reduction in repo rates would have a positive impact on the auto sector since it would lead to increased accessibility to finance at reduced costs, thereby creating a positive sentiment amongst the consumers in the market," the Society of Indian Automobile Manufacturers (SIAM) President Shailesh Chandra said in a statement. The Automotive Component Manufacturers Association of India (ACMA) said the RBI's decision to reduce the repo rate by 50 basis points and to ease the Cash Reserve Ratio is a timely and proactive step toward stimulating domestic demand and supporting industrial growth, especially in the backdrop of persistent global headwinds. "The reduction in interest rates is expected to translate into lower borrowing costs for both consumers and businesses, thereby providing a much-needed boost to the automotive sector, which has been navigating a complex macroeconomic environment," ACMA President Shradha Suri Marwah stated. The infusion of liquidity through the CRR cut will further ease working capital pressures, particularly for MSMEs that form the backbone of the auto component industry, she added. Mahindra Group CEO & MD Anish Shah said the move demonstrates the RBI's confidence in the macroeconomic fundamentals and its proactive approach to supporting sustainable expansion. The rate cut will serve as a positive catalyst for consumption and investment, particularly in interest-sensitive sectors such as automobiles, housing, and MSMEs, he added. It will also ease borrowing costs, improve liquidity, and further strengthen the momentum behind India's infrastructure and manufacturing push, Shah said. Renault India Country CEO & MD Venkatram Mamillapalle said the policy is expected to strengthen liquidity and accelerate the transmission of lower interest rates to consumers, which will spur demand in the economy. "For the automotive sector, this translates directly into improved access to affordable vehicle financing, especially in the entry and mid-level segments," he stated. PTI
New Indian Express
06-06-2025
- Automotive
- New Indian Express
Auto industry expects lower interest rate to revive sluggish demand
The RBI's 50-basis-point repo rate cut is expected to revive demand in the automobile sector, which has been grappling with sluggish buyer interest. Industry experts believe the rate reduction, coupled with a 100-basis-point cut in the Cash Reserve Ratio (CRR), will improve financing accessibility and lower borrowing costs, boosting consumer sentiment. Shailesh Chandra, President, SIAM and Managing Director of Tata Passenger Vehicles Ltd & Tata Passenger Electric Mobility, said the reduction in the repo rate would have a positive impact on the auto sector since it would lead to increased accessibility to finance at reduced costs, thereby creating a positive sentiment amongst consumers in the market. The move comes as automakers face weakening sales due to steep price hikes, particularly in the passenger vehicle segment, which have pushed cars out of reach for many buyers.
