Switch Mobility Automotive today joined hands with Siemens to address the potential of the e-mobility market in India, driven by a strong commitment to support zero emission mobility through lowest Total Cost of Ownership.

Switch Mobility Automotive and Siemens have entered into a Memorandum of Understanding (MOU)towards building a co-operative technological partnership in electric commercial mobility segment and execute eMobility projects in India.

The MOU is aimed at delivering efficient, cost-effective and sustainable E-Mobility solutions to various commercial vehicle customers in India. To achieve this objective, Switch Mobility Ltd., will bring its strong electric commercial vehicle industry experience while Siemens will offer its proven flexible, high-efficiency and future-ready charging infrastructure technology with efficient & reliable medium-voltage grid connection solutions. Siemens' charging infrastructure management software solution would enhance the energy-efficient operations of the chargers.

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Auto registrations tumbled by 28.64% year on year in March 2021 to 16,49,678 units. However, auto registrations grew 10.05% last month as against February 2021.

Two-wheeler vehicle registrations were at 11,95,445 vehicles (down 35.26% YoY), three-wheeler vehicle registrations were at 38,034 vehicles (down 50.72% YoY), commercial vehicle registrations were at 67,372 vehicles (down 42.2% YoY) in March 2021 over March 2020.

However, the registrations of passenger vehicles stood at 2,79,745 vehicles (up 28.39% YoY) during the period under review. FADA said passenger vehicle waiting period continued to hold its ground and remained as high as 7 months as scarcity of semiconductors remained put. 47% PV dealers said that they lost more than 20% sales due to supply side constraints.

Meanwhile, tractor registrations jumped 29.21% to 69,082 units in March 2021 over March 2020.

In its near term outlook, FADA said, The month of April comes with festivities like Ugadi, Gudi Padwa, Baisakhi and Poila Boishakh. This coupled with marriage season is generally a high sales period. At this juncture, the second wave of Covid is not only spreading faster but is also trying to destabilize the growth which India has been able to achieve in last few months. Any lockdown at this point will severely hamper the momentum which is getting built for Auto Industry to come out of the woods. Since Maharashtra contributes 10-11% of the auto retail, the current Lockdown will have catastrophic effect on overall sales for the month of April. Overall, FADA maintains extreme caution for the month of April as Covid rises to newer highs.

The Nifty Auto index rose 1.1% to 10,045.95, rising for third consecutive trading session. The index added 2.85% in three days.

Ashok Leyland (up 5.65%), Tata Motors (up 2%), Eicher Motors (up 1.74%), Escorts (up 1.51%), M&M (up 1.15%), Maruti Suzuki (up 1.06%), Hero MotoCorp (up 0.68%) and TVS Motor (up 0.17%) were gainers.

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Ashok Leyland announced that the company sold 17,231 units in month of March 2021 compared to 2,126 units in March 2020. For the FY 2021, the company sold 100,715 units compared to 125,200 units in FY2020.

Total sales for the month of March 2021 include domestic sales of 15,761 units.

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The company's total domestic sales surged 809% to 15,761 units in March 2021 compared with 1,734 units in March 2020.

Ashok Leyland, flagship of the Hinduja group, is among the largest manufacturer of commercial vehicles in India and also among the biggest manufacturers of buses and trucks globally.

The company's consolidated net profit tanked 32.9% to Rs 38.32 crore on a 15.2% rise in net sales to Rs 5,928.15 crore in Q3 December 2020 over Q3 December 2019.

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