This order follows a competitive e-bidding process conducted through the Government tendering system.

The new truck with the Cummins-derived engine is believed to be the first of global engine partnership between Daimler and Cummins for medium duty engines at Euro VI and beyond.

The budget is aimed at incentivizing around 28.81 lakh electric vehicles over the next two years!

The investment is to be used to support RSB’s plans for growth, focusing on mergers and acquisitions (M&A) and expanding its global operations.

This multi-year investment, said to exceed USD100m, aims to double the current manufacturing footprint.

Vehicle production also saw a rise of 13.8% in the first half of FY 2024-25.

Production saw a more significant decrease of 13.7%, dropping from 37,014 units to 31,938 units.

Production decreased by 8.7%, while exports saw sales improve by 8.6%.

Tractor production decreased by a greater percentage of 9.9%, falling from 33,269 units to 29,985 units.

Medium and heavy rigid truck (7.5t GVW and above) sales slipped by 8% to 108,018 units from 117,351 units in the same period of FY2023.

With Motherson’s network and free capital raised through a new funding round, REE intends to scale up production of its ‘REEcorner’ electric drive modules and its ‘P7’ battery electric trucks.

The EV & Future Mobility Park is being created on 300 acres in Shoolagiri, Krishnagiri District.