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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German luxury automotive company BMW Group India has expanded its retail presence in Navi Mumbai by introducing the MINI brand at the Infinity Cars dealership. The update brings new BMW models, MINI vehicles and BMW Premium Selection pre-owned cars into a single location.

The Infinity Cars facility covers 6,774 square feet on a single level, utilising BMW's Retail.NEXT layout. The site features a Central Customer Walkway, digital configuration terminals, a dedicated pre-owned vehicle display area in the basement and a lifestyle section for brand merchandise and accessories. Infinity Cars operates six sales and service locations for BMW Group India across the Mumbai region.

Hardeep Singh Brar, President and CEO, BMW Group India, said, "The luxury mobility landscape in India is becoming increasingly experience led, with customers seeking brands that reflect their lifestyle and individuality. MINI, with its iconic design, distinctive character and expressive personality, resonates strongly with this evolving audience. Mumbai continues to be one of the most important markets for luxury automobiles in India and the introduction of MINI at Infinity Cars further strengthens our presence in the region. Through the Retail.NEXT concept, we are redefining how customers engage with our brands by creating immersive, digital-first and customer-centric experiences. Together with Infinity Cars, we look forward to bringing the unique world of MINI closer to customers in Navi Mumbai and accelerating the brand's growth in the market."

Pooja Choudary, Dealer Principal, Infinity Cars, said, "We are proud to deepen our association with BMW Group India by introducing MINI at Infinity Cars in Navi Mumbai. Building on our strong presence in the region with BMW and BMW Premium Selection, MINI adds a distinctive new expression of premium mobility to our portfolio. Its iconic character will help us connect with a new generation of customers while giving our existing clientele even greater choice. We look forward to growing MINI in Navi Mumbai and taking our partnership with BMW Group India to the next level."

The facility applies unified sales, service and administrative systems to manage customer operations from point of sale through ongoing vehicle maintenance.

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Used car retail platform Spinny has opened its first Spinny Park in the Mumbai region, located on Kalyan-Bhiwandi Road near K N Park Hotel, Rannoli.

The facility covers 15,000 square feet and holds space for 61 cars, providing buying and selling services for vehicles in Kalyan and surrounding areas.

The location offers vehicle viewing, test drives, financing and ownership transfers under its Spinny Assured brand. For vehicle owners seeking to sell, the platform's SellRight service handles valuations, payments and registration certificate transfers at the site.

Niraj Singh, Founder and CEO, Spinny, said, "Mumbai has been an integral part of Spinny’s journey, and this is the right time to bring a Spinny Park here. Maharashtra has been an important market for us, and this is a meaningful next step in getting even closer to our customers. This is the time for coming together, and celebrating this new chapter with the community makes it all the more meaningful."

The launch included Spinny Park Live, an event featuring local Marathi performers during the Ganpati festival season, hosted by Marathi Kapil.

The Kalyan location expands Spinny's network in Maharashtra, where it already operates five hubs in Mumbai including Dadar, Seawoods, Vidyavihar, Kandivali, and Thane, along with four sites in Pune, and operations in Nashik and Nagpur. The company combines physical locations with doorstep services for test drives and sales. Vehicle inventory for the network is processed through Integrated Quality Centres after inspection and refurbishment, drawing from procurement operations across 100 cities nationwide.

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German luxury car brand Porsche India has launched the Cayenne Electric, expanding its electric vehicle lineup in the country while introducing an electric propulsion system for its popular Cayenne model range.

The model arrives in two variants, the Cayenne Electric (priced at INR 17.72 million) and the Cayenne Turbo Electric (priced at INR 22.75 million), with customer deliveries commencing immediately following its release in Mumbai. Porsche will continue to sell internal combustion engine (ICE) variants of the Cayenne in India alongside the electric models.

Ashutosh Dixit, Head of Porsche India, said, “The Cayenne enters an important new era with electrification, combining uncompromising Porsche performance with electric mobility while remaining unmistakably Porsche. It continues to offer the everyday usability our customers expect from the Cayenne, together with the performance, engineering and driving experience that define our sports cars. Its introduction marks an important next chapter for Porsche in India as we continue to broaden the choices available to our customers.”

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JSW MG Motor India, one of the leading passenger vehicle manufacturers, completed the delivery of 50 units of the Hector Tomahawk EV in Surat in a single day, following the market launch of its electrified SUV model line.

The Hector Tomahawk lineup includes both battery-electric vehicle (EV) and plug-in hybrid electric vehicle (PHEV) powertrains. The Hector Tomahawk EV incorporates a 69.2 kWh battery pack paired with an electric motor producing 150 kW and 310 Nm of torque, yielding a certified range of 517 km on a single charge and supporting DC fast charging up to 90 kW.

The Hector Tomahawk PHEV combines a 1.5-litre petrol engine, a dedicated hybrid transmission and a 20.5 kWh battery pack, delivering an electric range of 115 km and a combined driving range exceeding 1,100 km.

The SUV measure 4,745 mm in length, 1,850 mm in width and 1,770 mm in height, with a 2,810 mm wheelbase and 230 mm of ground clearance at the battery casing. On the inside it features a 15.6-inch central display screen, the i-SMART 3.0 connected software platform with artificial intelligence voice command integration, Vehicle-to-Home (V2H) power output capabilities and Level 2 Advanced Driver Assistance Systems (ADAS).

The Hector Tomahawk EV is offered under a Battery-as-a-Service (BaaS) introductory pricing scheme starting at INR 1.39 million with a battery rental fee of INR 4.90 per kilometre, or at an outright ex-showroom price starting at INR 1.94 million for the Excite 7-seater variant, rising to INR 2.34 million for the Essence 7-seater model.

The Hector Tomahawk PHEV, available exclusively as a 7-seater, starts at a BaaS price of INR 2.17 million with a battery rental fee of INR 3.20 per kilometre, or an outright ex-showroom price of INR 2.56 million for the Exclusive trim and INR 2.77 million for the Essence trim. A lifetime battery warranty is provided to original owners for both EV and PHEV variants.

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