Global auto industry to loss $210 bn due to chip shortage An ongoing global shortage in semiconductors is on track to cost the world’s automakers $210bn in lost revenue this year, almost double that of previous estimates.

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Foxconn plans EV manufacturing in India: Report Taiwan-based tech company Foxconn, which has announced its entry into the electric vehicle space, is looking forward to come to India to manufacture its EVs.

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ICRA slashes FY22 growth forecast for auto industries Ratings agency ICRA revised downwards the growth forecast for the auto components industry by 300 basis points for the ongoing fiscal year citing the impact of semiconductor shortage.

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ARAI develops chargers for electric vehicles The Automotive Research Association of India (ARAI) has indigenously developed a charger for electric vehicles to give a push to the EV ecosystem in the country, as per a statement.

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Tata Motors secures Rs 75 bn from TPG Rise Climate for new EV subsidiary Recently, the Tata Motors and TPG Rise Climate has entered into a binding agreement, wherein the latter along with its co-investor ADQ will invest in its newly incorporated subsidiary of Tata Motors.