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Over the years, the average Annual Budgetary Allocation of the Ministry has observed a substantial increase, rising by more than 940% from approximately Rs. 25,872 Crore per year during 2009-14 to about Rs. 2,70,435 Crore for the fiscal year 2023-24.
Union Minister Mahendra Nath Pandey announced that the government will initiate disbursing incentives through the ₹26,000 crore production-linked incentive scheme for automobiles and auto components in the upcoming fiscal year.
In the first half of the current fiscal year, the industry saw a robust 12.6% year-on-year revenue growth to Rs 2.98 trillion. Expecting continued double-digit sales growth this year and in the upcoming financial year, the sector is focusing on higher value-addition, technological advancements, and localization efforts.
TomTom (TOM2) has announced that, together with Microsoft, it is bringing the benefits of generative artificial intelligence (AI) to the global automotive industry.
Cognata proudly announces its collaboration with Microsoft to drive the Automated Driving Perception Hub (ADPH) global program, running on Microsoft Azure, and AMD EPYC™ processors and Radeon™ GPUs, to allow Automotive customers to virtually and efficiently evaluate ADAS/AV sensors through digital twin-based sensor simulation.
Ansys launches AVxcelerate Autonomy, an end-to-end solution capable of reducing cost and time-to-compliance for L2+, L3, and above ADAS/AV systems by 100,000X. Co-developed with the BMW Group, Ansys AVxcelerate Autonomy empowers companies to further digital transformation efforts and achieve the majority of test driving required for compliance virtually.
Hyundai Motor will share its future blueprint for a hydrogen energy ecosystem and a vision for software and artificial intelligence, under the theme of ‘Ease every way.’
Supernal – Hyundai Motor Group’s Advanced Air Mobility company – is returning to the show to reveal its eVTOL (electric vertical takeoff and landing vehicle) product concept and much more.
Foxconn, a Taiwanese electronics manufacturing services company, has formally applied to establish a semiconductor fabrication facility in India, as announced…
LeddarTech has announced the launch of LeddarVision™ Parking (LVP-H), its latest fusion and perception software stack for automated parking and parking assist.