CMV360 Weekly Wrap-Up | That Mattered This Week (16th July – 21th July): Bharat Benz and Reliance Industries Unveil Hydrogen-Run Intercity Concept Luxury Bus at G20 Summit in Goa

Check out this week's important news on the truck, three-wheeler, tractors, new launches, and much more.

Welcome to the Cmv360 Weekly Wrap-Up, where we offer you the most recent commercial vehicle industry news and developments. Stay tuned with us as we explore these and other automobile parts-related subjects.

Check out this week's important news on the truck, three-wheeler, tractors, new launches, and much more.

Ashok Leyland Secures Contract to Supply FAT 4x4 GTV 6x6 Vehicles to Indian Army

Ashok Leyland has stated that it has received an order from the Defense Sector for a Field Artillery Tractor (FAT 4x4) and a Gun Towing Vehicle (GTV 6x6) worth INR 800 crore.

According to a press statement from the company, it will cautiously provide these cutting-edge vehicles to suit the requirements of the Indian Army over the following 12 months.

This contract marks a significant milestone for Ashok Leyland, highlighting its commitment to supporting national defense and reinforcing its position as a leading defence vehicle supplier. The company's track record of delivering reliable and high-performance vehicles played a crucial role in securing this esteemed contract.

Tata Motors' Shares in M&HCV Market Hit 10-Year Low in Q1

In a significant development, Tata Motors' shares in the Medium and Heavy Commercial Vehicle (M&HCV) market have plunged to a 10-year low in the first quarter. The renowned automotive manufacturer has experienced a challenging period, facing various factors that have impacted its market performance.

During Q1 of this year, Tata Motors' M&HCV segment faced a sharp decline, leading to a substantial drop in share prices.
In the overall M&HCV segment, the company's market share fell to 44%, a 560 basis point decrease from the previous year. While M&HCV gross sales increased by 2.9% during the quarter, this was mostly due to a 42% increase in bus volumes, which totalled 10,939 models, according to SIAM data.

Also Read: CMV360 Weekly Wrap-Up | That Mattered This Week (01st July – 07th July): Tresa Motors unveils first Model V0.1 electric truck

Volkswagen Commercial Vehicles Set to Conduct First Self-Driving Test in Munich, Germany

In a groundbreaking move, Volkswagen Commercial Vehicles has announced its plans to conduct its first-ever self-driving test in Munich, Germany. This initiative marks a significant step forward in the automotive industry's pursuit of autonomous technology.

The test, scheduled to take place in the coming months, aims to evaluate the capabilities and safety of Volkswagen's autonomous driving system within an urban environment. Munich's bustling streets and diverse traffic conditions provide an ideal real-world scenario for assessing self-driving technology's effectiveness.

Volkswagen's self-driving test vehicle, equipped with state-of-the-art sensors, cameras, and advanced AI algorithms, will navigate through various city routes, encountering pedestrians, cyclists, and other vehicles.

Tesla Commences Cybertruck Production at Texas Gigafactory

In a major milestone for the electric vehicle industry, Tesla has officially started production of its highly anticipated Cybertruck model at the Texas Gigafactory. The commencement of manufacturing at this facility marks a significant step forward for both Tesla and the burgeoning electric truck market.

The Cybertruck, known for its bold and futuristic design, promises impressive performance and versatility. Equipped with Tesla's cutting-edge electric drivetrain technology, it aims to redefine the concept of a rugged and sustainable pickup truck.

The Cybertruck was photographed on Tesla's social media accounts, accompanied by factory workers at the EV manufacturer's Texas headquarters.

MLR Auto Partners With Vidyuttech For Vehicle Finance

In a significant development in the automotive industry, MLR Auto, a leading automobile manufacturer, has announced a strategic partnership with Vidyuttech, a prominent financial technology firm, to offer vehicle finance solutions. This collaboration aims to streamline the process of acquiring automobiles by providing innovative and accessible financing options to customers.

Vidyuttech's unique pay-per-kilometre battery lease and attractive interest rate of around 10% are intended to facilitate the adoption of Electric 3-wheelers, making them an affordable and sustainable option for customers. Furthermore, Vidyuttech's commitment to providing over 90% on-road funding for potential consumers lessens the stress of downpayment, making electric vehicle ownership more accessible.

Porter Introduces Intercity Courier Service to Revolutionize Shipping Across India

In a groundbreaking move, Porter, the renowned logistics company, has unveiled its new Intercity courier service, aimed at transforming shipping across India. With this innovative service, businesses and individuals can now enjoy seamless and efficient shipping solutions for their goods and parcels across different cities in the country.

Porter has launched inter-city courier services for a diverse spectrum of clients, including SMEs, retail businesses, and regular consumers.

This innovative service features free doorstep pickup with no minimum order limitations or additional expenses. Initially, the service is accessible for shipments weighing up to 20 kg in cities such as Mumbai, Delhi, Bangalore, Chennai, Hyderabad, Pune, Kolkata, Surat, Ahmedabad, and Coimbatore, with over 19,000 PIN codes.

Euler Motors Opens Four New Retail Outlets across Bengaluru and Hyderabad, Boosting Electric Vehicle Accessibility

In a significant expansion move, Euler Motors, the leading electric vehicle manufacturer, has inaugurated four new retail outlets in the bustling cities of Bengaluru and Hyderabad. The inauguration ceremony was marked by great enthusiasm, with key dignitaries and EV enthusiasts attending the event.

The new retail outlets are located in prime areas of the cities, aiming to provide convenient access to their cutting-edge electric vehicles and related services. At these state-of-the-art showrooms, customers can now explore and experience a wide range of sustainable and technologically advanced electric three-wheelers.

Bharat Benz and Reliance Industries Unveil Hydrogen-Run Intercity Concept Luxury Bus at G20 Summit in Goa

In a groundbreaking display of innovation and sustainability, Bharat Benz and Reliance Industries joined forces to showcase their latest creation, a hydrogen-run intercity concept luxury bus, at the prestigious G20 Summit held in Goa. The event, attended by world leaders and industry experts, provided the perfect platform to unveil this cutting-edge transportation solution.

The collaborative effort between Bharat Benz, a leading commercial vehicle manufacturer in India, and Reliance Industries, a conglomerate known for its diverse ventures, aimed to address environmental challenges and revolutionize the public transport sector.

The hydrogen-run luxury bus boasts a futuristic design with state-of-the-art amenities and advanced technology. Powered by a zero-emission hydrogen fuel cell system, the bus offers an eco-friendly alternative to traditional diesel-driven vehicles. It presents a promising solution to combat air pollution and reduce the carbon footprint associated with intercity travel.

Also Read: CMV360 Weekly Wrap-Up | That Mattered This Week (10th July – 15th July): Mahindra Gets A Spot In The Record Books for Highest Bolero MaXX Pik-Up Deliveries

JBM Auto Announces Ambitious Plan to Introduce More Electric Buses in the Western Ghats

JBM Auto, a leading automotive manufacturer, has unveiled its ambitious plan to launch an extensive fleet of electric buses in the breathtaking Western Ghats region.

The initiative is expected to revolutionize public transportation in the ecologically sensitive area, offering visitors and residents a greener and more enjoyable way to traverse the picturesque landscapes.

With over 5,000 electric buses on order across the country, Gurgaon-based JBM Auto plans to expand its commercial e-mobility fleet, adding to Goa its Electric footprint for intra- and inter-city and tarmac buses, which the bus maker showcased at the ongoing three-day Panaji transport fair.

In India, up to 70 JBM Auto-built electric tarmac buses operate at various airports. Aside from interstate coaches, city, staff, and school buses, the total orders comprise the same variant.

TAFE, TMT Partner With Indian Bank For Tractor Financing To boost Farmers’ Income

Indian Bank collaborated with TAFE and TAFE Motors and Tractors (TMT) to finance tractors in order to improve its client experience. The buyer can get tractor financing from any of the Indian Bank's 5,700 branches across the country.
The collaboration would allow farmers and other persons to obtain tractor loans at reasonable interest rates, with the added benefit of hassle-free loan processing.

TAFE and TMT, two of India's leading tractor manufacturers, have consistently played a crucial role in the nation's agriculture domain. Their vast array of technologically advanced and reliable tractors has been instrumental in transforming traditional farming practices and enhancing agricultural output. By partnering with a prominent Indian bank, they intend to further expand their reach and impact on the farming community.

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