It is nearly 20 years since India saw a carmaker getting listed on the stock exchange, and this time, it is a South Korean automaker Hyundai Motor India.

The automaker aims to raise upto INR 278 billion by offloading 17.5 percent stake at a price band in the range of INR 1,865 to INR 1,960 per share.

The issue will be available for subscription between 15 October to 17 October, 2024.

This will also make it the largest IPO (Initial Public Offering) in India till date, surpassing Life Insurance Corporation of India’s INR 210 billion IPO that debuted in May 2022; and the biggest IPO listing for 2024 in the world.

Hyundai Motor India, will become the latest automaker in India to debut on the stock exchange, after Maruti Suzuki India’s debut in 2003.

What’s interesting to note is that the funds raised by the company’s parent company Hyundai Motor Group, which then is expected to re-invest the funds in the company, but the exact quantum and timeline has yet to be clarified.

The IPO comes at a time when the Indian stock market is seeing huge traction with lot many new companies entering the foray. Hyundai Motor Group sees India as a huge growth market, that not only contributes to 6 percent of the company’s global revenues but also acts as a leading exporter for the Asian market.

The company has company a long way since it first introduced the Santro hatchback in 1998 and has made a prominent name for itself as the second largest car maker in India for over two decades, and the largest passenger vehicle exporter.

In FY2024, the company reported wholesales of 777,876 units, which marks 13 percent CAGR growth over FY2022 and FY2023; similarly, the average selling price has increased from INR 666,455 to INR 771,840; FY2024 revenue growth of 47 percent over FY2022 and net income growing from INR 29,016 million to INR 60,600 million in FY2024 respectively.

Hyundai Motor India aims to deploy the new funds (potential investment from Hyundai Motor Group) towards building new products, investment in new technologies and R&D in the country.

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Bentley Motors has confirmed a leadership change within its communications and heritage divisions. Angus Fitton will join the company as Chief Communications Officer, taking charge of global product, corporate and internal communications at the luxury car manufacturer’s headquarters in Crewe, England. He will step into the role vacated by Wayne Bruce, who is transitioning to a new position as Director of Visitor Experience and Heritage. Both executives will report directly to Bentley’s Chairman and CEO, Dr Frank-Steffen Walliser.

Fitton arrives at Bentley with extensive industry experience, most recently serving for seven years as Vice President of PR at Porsche Cars North America in Atlanta. Before that, he led communications for Porsche Cars Great Britain, and his return to the UK marks a relocation back to his home country. His career path, which began in journalism before shifting to public relations, mirrors that of his predecessor. Over the years, he has held communications roles with several prestigious automotive brands, including Mercedes-Benz, Jaguar and Volkswagen. His lifelong enthusiasm for cars aligns well with Bentley’s brand ethos, and during his Porsche tenure, he collaborated on notable projects such as ‘Edith’ – a Porsche 911 that set a world altitude record by climbing a volcano, an initiative conceived and led by Dr Walliser himself.

In his new capacity, Bruce will focus on enhancing visitor and customer experiences at the Crewe site, building upon the Heritage Collection he originally established. He will also continue to lead the Bentley Foundation. These appointments are scheduled to take effect from 16 March.

Dr Walliser said, “Wayne has been an exceptional steward of Bentley’s global communications, shaping our voice through a period of significant transformation for the brand. I want to thank him for his leadership, creativity and unwavering commitment to Bentley Motors. As we look to the future, I am delighted to welcome Angus Fitton as our new Chief Communications Officer. Angus brings deep industry experience, a modern strategic mindset and a passion for storytelling that aligns perfectly with our ambitions. Under his leadership, I am confident that Bentley’s communications will continue to evolve, inspire and reflect the pioneering spirit that defines our company.”     

Fitton said, “I am grateful to Frank and the board of Bentley Motors for this opportunity to join an incredible team at an exciting moment for the brand. Wayne and his communications team have delivered extraordinary work and I look forward to getting started and building on the fantastic example he has set.”

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BMW ALPINA has presented its identity as a brand under the custodianship of the BMW Group. The move follows a brand activation in January and establishes a framework for the production and design of future models.

The company said going forward BMW ALPINA vehicles will be manufactured within BMW Group plants that have been modified to meet the brand's specifications. This production integration allows for personalisation options, enabling customers to customise vehicle details.

Standard features for the marque will include leather interiors available in multiple colours. The brand will maintain signature design elements, including the 20-spoke alloy wheel design and a specific exterior colour palette.

Heritage and Emblem Design

The new emblem reinterprets the historical throttle body and crankshaft elements. The design utilises linework and a transparent execution to create a silhouette with reduced colouring. This badge, combined with the recently revealed wordmark, forms the brand's updated iconography.

The brand's engineering focus remains on combining high-speed performance with ride comfort, specifically for long-distance travel.

The modernisation aims to balance ALPINA's history of power and discretion with BMW Group's production capabilities. The company states that the manufacturing shift to BMW Group plants ensures the standards of the brand are maintained while increasing the scope for material selection and interior curation.

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German luxury automotive brand BMW Group India has introduced the petrol-powered X3 30 xDrive M Sport Pro at INR 7.45 million (ex-showroom), which is locally produced at the BMW Group Plant Chennai. This new variant expands the X3 portfolio, joining the existing xDrive 20 petrol and xDrive 20d diesel models.

The BMW X3 30 xDrive M Sport Pro is equipped with a 2-litre, four-cylinder petrol engine featuring TwinPower Turbo technology and 48V mild-hybrid systems. It delivers 258 hp and 400 Nm of torque, enabling acceleration from zero to 100 kmph in 6.3 seconds. Power is managed via an eight-speed Steptronic transmission and the xDrive all-wheel-drive system.

It gets adaptive suspension with electronically controlled dampers as standard, allowing drivers to toggle between Sport and comfort-oriented settings.

In terms of dimensions, the X3 30 xDrive M Sport Pro measures 4,755 mm in length and 1,920 mm in width. The exterior features a blacked-out kidney grille with ‘Iconic Glow’ illumination and adaptive LED headlights. The M Sport Pro package adds – 20-inch M alloy wheels, M Sport brakes with red calipers, M Aerodynamic package with air intakes and M Lights Shadowline with a tinted finish.

The cabin features the BMW Curved Display, consisting of a 12.3-inch information display and a 14.9-inch control display running on Operating System 9. The instrument panel is wrapped in Sensatec and the interior includes a BMW Interaction Bar and a panoramic glass sunroof.

For driver assistance, the vehicle includes ‘Driving Assistant Plus’ as standard, which features active cruise control with stop-and-go functionality and lane-keep assistant. The ‘Parking Assistant Plus’ system provides a surround-view camera and a drive recorder.

Hardeep Singh Brar, President and CEO, BMW Group India, said, “The BMW X3 has always been the definitive choice for those who seek a perfect blend of luxury and versatility. With introduction of the new BMW X3 30 xDrive M Sport Pro, we are taking that legacy to an enhanced level of performance and presence. Power attracts power, and the new X3 30 delivers exactly that pairing a more aggressive engine with refined luxury to create a truly spirited driving experience. With this new addition, we have further expanded the X3 offering in India to cater to our modern, performance-driven customers who demand more.”

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Hyundai Motor India, one of the leading passenger vehicle manufacturers, is gearing up to introduce its premium luxury brand Genesis in India and has marked a senior appointment by onboarding Madhurendra Malu as the Vertical Head for Genesis in the country.

With over two decades of experience, Malu joins Genesis from JSW MG Motor India, where he is said to be instrumental in setting up the MG SELECT luxury retail channel. Previously, he had also led the expansion for Skoda Auto India’s dealer network. With experience across sales, strategy and network development he had also held long tenure at Maruti Suzuki India.

A graduate of the Management Development Institute (MDI), Gurgaon, he will be responsible for establishing and leading Hyundai India’s premium play in the luxury car market.

At present, Genesis sells a range of luxury cars across sedans, SUVs and electric vehicles.

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