Automotive news recap, July 16: Major stories that you may have missed

Are you passionate about staying informed about the latest in the automotive industry but find it challenging to keep up? HT Auto empathizes with you. The ever-evolving world of automobiles is constantly on the move with new developments and it could be a bit difficult to stay updated with everything that happens in the industry. However, worry not, you can rely on us to provide you with the most important updates from Tuesday, July 16, 2024.

Porsche Macan EV gets 2 new variants in India

Porsche has introduced two variants to the Macan Electric SUV lineup in India. The electric performance SUV is now available in the standard Macan Electric and Macan 4S Electric variants. Prices for the EV now start from ₹1.22 crore (ex-showroom) for the standard variant, while the 4S is priced at ₹1.39 crore (ex-showroom). The top-spec Macan Turbo Electric is now marginally more expensive and priced at ₹1.69 crore (ex-showroom).

Jeep Meridian gets a price cut

Jeep Meridian just got a price cut and now the range starts at ₹29.49 lakh (ex-showroom). Earlier, the prices of the Jeep Meridian started from ₹31.23 lakh (ex-showroom). Jeep sells the Meridian in two trims - Overland and Limited (O). There is also an X package that customers can get.

Tata Curvv production model to break cover on July 19

Tata Motors will unveil the highly anticipated Curvv coupe SUV on July 19, 2024, in production guise. The company has announced the unveiling date on social media, while the official launch is scheduled for August 7. Expect to see the Tata Curvv in the production-spec version for the electric and possibly, the internal combustion engine (ICE) powertrains when it arrives later this week.

Ola Electric eyes a lower valuation of $4.5 billion for IPO

SoftBank-backed Indian electric scooter maker Ola Electric is likely to value the company at around $4.5 billion for its initial public offering (IPO), around 16-20 per cent lower than the valuation at its last funding round. SEBI in June approved Ola's $660 million stock market listing, the first IPO by an EV maker in India and set to be one of the country's largest share sales this year.

UP government extends EV subsidy scheme till 2027

Days after waiving off registration tax on hybrid cars in the state, the Uttar Pradesh government has announced that its EV subsidy scheme has also been extended by another three years till 2027. The state launched its EV policy in 2022 to promote the usage of electric vehicles.

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