Hyundai India Secures SEBI Approval For $3 Billion IPO; Alt Mobility Appoints Pankaj Gupta as Chief Growth Officer and More...

Hyundai Motor India Ltd. , a leading automaker in India, is gearing up for an initial public offering (IPO) to raise USD 3 billion at a valuation of approximately USD 20 billion. The company has received approval from the Securities and Exchange Board of India (SEBI) for the IPO, which would be the first by a carmaker in India in two decades.

Alt Mobility, a prominent player in India’s electric vehicle (EV) fleet leasing and lifecycle management sector, has announced the appointment of Pankaj Gupta as its new Chief Growth Officer. Gupta, an industry veteran with over a decade of experience, will spearhead the company’s expansion into new markets, particularly in retail leasing.

Kia India Corporation has officially inaugurated its Gwangmyeong EVO Plant, marking Hyundai Motor Group’s first dedicated electric vehicle (EV) manufacturing facility. Located at Kia Autoland Gwangmyeong, this new South Korean plant boasts an annual production capacity of 150,000 units and commenced production of the Kia EV3 in the first half of this year, with plans to introduce the EV4 in early 2025.

Reliance Industries and bp’s joint venture, Jio-bp, has achieved a significant milestone with the inauguration of its 500th EV charging station in Mumbai. This achievement underscores the company’s swift growth in the electric vehicle charging infrastructure sector.

Euler Motors, a leading electric commercial vehicle manufacturer in India, has expanded its product lineup with the launch of the Storm EV. This new electric four-wheeler small commercial vehicle (SCV) is priced between INR 8,99,999 and INR 12,99,999.