Elon Musk, the chief executive officer of Tesla and the world’s richest person, said on Friday he was terminating his $44 billion deal to buy Twitter because the social media company had breached multiple provisions of the merger agreement. Twitter’s chairman, Bret Taylor said on the micro-blogging platform that the board planned to pursue legal […]
Chinese SUV maker Great Wall Motors is set to abandon its businesses in India as it prepares to hit the road to Brazil, where the company has pledged to invest Rs 15,790 crore. The company has reportedly laid off its employees deployed at its headquarters in India. The 11 employees have been given pink slips, […]
Car major Ford India has increased the equivalent average days in its severance package offer from the earlier 115 days to 121 days for employees who are supporting production at the Chennai plant, in a bid to ensure timely settlement for all employees by July 31. The company has requested the workers’ union to engage […]
Japanese automaker, Nissan India has appointed Mohan Wilson as Director Marketing, Product & Customer Experience, for Business Transformation for the India market. Mohan Wilson replaces Sriram Padmanabhan and will take over the role effective July 1 2022. Mohan has worked across geographies in Japan, HongKong, Germany and India with cross functional experience of over 20 […]
Bhavish Aggarwal, founder and chief executive officer of Ola, has said granting special incentives to Tesla in India will not be in the best interests of the country. “Tesla is free to come in and put up shop here and sell its cars,” Aggarwal told the Financial Times in an interview. Tesla wants to be […]
For the month of June, the overall passenger vehicle sales came at 3,20,849 units, which marks a 25 per cent growth YoY. What’s interesting to note is that despite supply chain constraint, long-waiting periods, the consumer demand continues to remain robust. In fact, looking at the month gone by, the industry saw some big blockbuster […]
The National Anti-profiteering Authority (NAA) has found Indiabulls Real Estate guilty of not passing on over Rs 6.46 crore input tax credit benefits to homebuyers by commensurate reduction in prices post rollout of GST. Based on a case filed by a homebuyer that Indiabulls Real Estate has not passed on ITC benefits in project Sierra-Vizag, […]
End-to-end online sales of passenger vehicles (PVs) have seen an upswing in the last three years as Covid-related disruptions led companies to focus more on such channels and customers getting more comfortable with the idea. Some car manufacturers started basic online channels in 2019, which were sharpened during 2020-2021, and today, sales through the medium […]
Over 80,000 petrol pumps, spread across the length and breadth of the country, belonging to both public and private sectors, are operating at near normal level now, a senior government official said. On an average, nearly 60 million people visit petrol pumps every day. Since prices are on the freeze since April 6, private operators […]
The Reserve Bank of India (RBI) on Thursday doubled the limit on home loans issued by urban cooperative banks (UCB). With this, tier-I UCBs can issue individual housing loans of up to Rs 60 lakh while tier-II UCBs are allowed to offer loans of up to Rs 1.4 crore, the central bank said in a […]