JK Tyre & Industries Ltd (JK Tyre) has reported a PAT of INR 570 million in its unaudited results for the third quarter of FY2024-25. The company recorded revenues of INR 36.9 billion in the respective quarter and an EBITDA of INR 3.35 billion. The EBITDA margin was 9.1 percent and the PBT of INR 80 million. 
Commenting on the results, Dr Raghupati Singhania, Chairman and Managing Director, JK Tyre, stated, “JK Tyre witnessed a healthy growth in the Replacement market during the Quarter. Rising raw material cost, particularly in natural rubber impacted the margins, which was to an extent addressed by certain price revisions and cost optimization. Looking ahead, demand in the replacement market is promising, and the OEM sector is on a recovery path. Moreover, export markets offer new opportunities, given the Rupee/Dollar parity.”
Focusing on premiumization of its product range across segments, which will help profitability, JK Tyre is also digitally transforming itself. In this direction, the company recently established a Digital & Analytics Centre of Excellence (DnA COE), which should help strengthen data driven operational efficiencies and innovation.
JK Tyre’s subsidiaries, Cavendish Industries Ltd. (CIL) and JK Tornel, Mexico, continues to make healthy contributions to the overall revenues and profitability of the Company.
 

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The Light Electric-Vehicle Acceleration Forum (LEAF), an industry body association initiated by Hero MotoCorp, Ather Energy and IPEC, to accelerate the adoption of electric two-wheelers and three-wheelers in India. The forum was inaugurated by H D. Kumaraswamy, Union Minister for Heavy Industries & Public Enterprises.

LEAF serves as a neutral platform bringing together original equipment manufacturers (OEMs), charging infrastructure operators and technology providers. The consortium focuses on advancing interoperability across fragmented charging networks to standardise the user experience.

A primary technical focus for the forum is the implementation of LECCS (Light Electric Combined Charging System), which is approved by the Bureau of Indian Standards (IS 17017 Part 2/Sec 7) as a ‘Type 7’ connector supporting both AC and DC charging. It enables unified communication and roaming capabilities, allowing vehicles from different manufacturers to utilise the same public infrastructure.

The forum was founded through a Memorandum of Understanding (MoU) between three entities: Hero MotoCorp Limited (via its Emerging Mobility Business Unit), Ather Energy and IPEC India.

At launch, the consortium included over 20 member organisations, including vehicle manufacturers, charge point operators and software providers. The founding members constitute the initial steering committee, with plans to expand membership in the coming months.

The founding members, Kausalya Nandakumar (Hero MotoCorp), Ravneet S Phokela (Ather Energy), and Zohra Khan (IPEC India), said, “EV adoption in India has reached an inflection point, and the next phase of its growth will depend on how effectively the industry addresses charging anxiety, as users navigate fragmented networks and inconsistent experiences. Delivering a seamless and interoperable charging experience at scale will require alignment on shared approaches, which LEAF aims to enable. We believe India has the potential to emerge as a global leader in light electric mobility, and initiatives like LEAF are key to unlocking this potential by building a more cohesive and scalable public charging ecosystem.”

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Czech automotive brand Skoda Auto, one of the world’s oldest automotive brands and part of the Volkswagen Group, is set to exit China.

Skoda Auto has been struggling in the Chinese market with sales bottoming out at 15,000 units in 2025, from its peak of 341,000 in 2018, marking just a 0.1 percent market share in the world’s most competitive market. 

Volkswagen Group has confirmed that Skoda Auto will exit China by mid-2026 and turn its focus on key growth markets such as India and Southeast Asia.

The Czech automaker had established its presence in China nearly two decades ago, selling more than 3 million vehicles. Its parent company Volkswagen Group has had an aggressive focus in the country with nearly 40 plants, 50 million customers and its biggest Research & Development facility outside Germany.

In a statement to the media, Volkswagen Group China, stated “For Skoda customers in China, warranty and aftersales services will remain fully available.” Thus, giving some sense of security for existing customers.

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ICRA has reported that India’s automobile sector is expected to experience a moderation in growth during FY2027. This follows a period of expansion in FY2026 driven by GST rationalisation and resilient economic activity. While policy changes improved affordability in the two-wheeler segment and enhanced fleet economics for commercial vehicles, growth rates are projected to normalise against a higher base.

The CV segment led the recent industrial upcycle, supported by infrastructure activity and GST rate cuts. Domestic wholesale volumes increased by 12.5 percent YoY during the first 11 months of FY2026, while retail volumes rose by 28.9 percent in February 2026.

Segment Forecasts:

• FY2026: Growth is expected to exceed previous estimates of 7-9 percent.
• FY2027: Growth is projected to moderate to 4-6 percent.
• Constraints: High funding costs and a consumer preference for pre-owned light commercial vehicles (LCVs) may limit near-term expansion.

The two-wheeler segment recorded a recovery in FY2026, with retail volumes growing by 11.5 percent in the 11M FY2026 period. This was supported by improved rural demand and financing availability following GST cuts for motorcycles and scooters below 350 cc. ICRA expects wholesale growth to slow from 9 percent in FY2026 to 3-5 percent in FY2027.

The auto component sector is forecast to grow by 7-9 percent in FY2027, driven by premiumisation and replacement demand. The industry plans a capital expenditure of INR 280 billion to INR 320 billion for the year, focusing on capacity expansion and electrification. While internal accruals will fund most investments, debt reliance may increase for battery cell localisation projects.

ICRA noted that while direct export exposure to West Asia is limited for component players, indirect risks exist. Approximately 25-30 percent of India's passenger vehicle exports are linked to West Asian markets, and disruptions there could affect component demand. Other monitorables include supply-chain volatility, energy costs and currency fluctuations.

‘The broad-based recovery seen in FY2026 has largely been policy-driven, particularly due to GST rationalisation, which improved affordability and demand sentiment across segments. Growth is expected to normalise in FY2027, given the higher base and emerging challenges from global uncertainties and input cost pressures. That said, continued investments in electrification, steady replacement demand and improving rural incomes are expected to support the sector over the medium term,’ the company noted.

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JSW MG Motor India has unveiled the sixth season of its flagship MG Developer Program & Grant (MGDP), created in partnership with the Department for Promotion of Industry and Internal Trade (DPIIT). With this initiative, the company continues its focus on nurturing India’s startup landscape by driving cutting-edge innovation. Under the overarching theme of automotive innovation, this latest edition seeks to cultivate forward-looking solutions that address the future of mobility.

Startups are invited to present groundbreaking ideas across a wide spectrum of fields, including artificial intelligence in automotive, vehicle-to-everything intelligence, sustainable and circular economy models, electric vehicle charging infrastructure, connected services, manufacturing, vehicle technology and logistics and supply chain. A jury composed of senior leaders and experts from industry, academia and corporate sectors will assess submissions based on originality and practical feasibility.

Participants selected for the programme will receive mentorship from the company and its network of ecosystem partners. They will also gain access to development resources, testing opportunities and potential grant support at the jury’s discretion. Submissions opened today and will close on 30 April 2026. Shortlisted teams will undergo mentoring sessions leading up to Demo Day on 1 June 2026.

Since its inception in 2019, the programme has been instrumental in fostering breakthrough mobility solutions. Across the first five seasons, it drew over 1,550 entries, with more than 290 teams shortlisted in the initial rounds. These teams benefited from mentorship provided by over 100 experts, including leadership from JSW MG Motor India and its technology partners, making it one of the largest mentoring initiatives in the automotive sector. To date, 51 startups have been shortlisted through the programme and are actively engaged in pilot projects.

Anurag Mehrotra, Managing Director, JSW MG Motor India, said, “Innovation remains the cornerstone of JSW MG Motor India’s vision for India, and we remain committed to nurturing this value through multiple initiatives. This new edition of MGDP aims to empower ambitious start-ups working across new energy, autonomous and connected mobility technologies. Together, we hope to shape a future where technology meaningfully enhances every customer’s experience.”

Sanjiv Singh, Joint Secretary, DPIIT, said, “Startup India, DPIIT is committed to supporting initiatives that foster collaboration, create opportunities for young talent and encourage India-specific innovation. We are delighted to partner with JSW MG Motor India for the new season of MGDP. This collaboration reflects our shared commitment to nurturing India’s future workforce and fostering a culture of practical problem-solving.”

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