SEAT S.A. is accelerating its transition to electric mobility, hitting key milestones at its Martorell facility that signal growing momentum in the company’s EV strategy. In a critical year for its electrification push, the Volkswagen Group unit has begun pre-series assembly of battery systems and produced its first body panels for the CUPRA Raval using a next-generation press line.

The Spanish automaker, tasked with leading the development and production of the Volkswagen Group’s Electric Urban Car family under the Brand Group Core umbrella, is laying the groundwork for full-scale production of two compact EVs set to roll off the Martorell line starting in 2026.

“The assembly of the first battery systems in our new plant and the production of body parts on the new PXL press for the future electric models we will manufacture in Martorell is a key milestone in our electrification process,” highlights Markus Haupt, Interim CEO of SEAT and CUPRA and Executive Vice-President for Production and Logistics at SEAT S. A. “This is a decisive year, as we continue to prepare for the start of series production of the Brand Group Core’s Electric Urban Car family in 2026, starting with the CUPRA Raval, with the vision of leading electromobility in the Iberian Peninsula.”

Battery Assembly Line Powers Up

SEAT has initiated pre-series battery assembly at its newly constructed plant in Martorell, less than 18 months after breaking ground. The facility marks a Euro 300 million investment spanning 64,000 square meters and is poised to deliver up to 300,000 battery systems annually once fully operational.

Initially combining manual labour with automated systems, the battery line will transition to fully robotised production supported by a 500-strong workforce. A 600-meter conveyor bridge is under construction to link the battery facility to the main assembly line, enabling real-time, automated battery transfers and streamlining logistics.

The plant will supply energy storage units exclusively for the CUPRA Raval and the production version of the Volkswagen ID.2all, both built on VW’s MEB platform and slated for assembly at Martorell. SEAT expects the local battery production to enhance cost-efficiency and reduce carbon emissions across the supply chain.

Advanced Stamping Ushers in New Era of Production

Alongside battery progress, SEAT has launched pre-series production of body parts for the CUPRA Raval using its new PXL press, a high-speed stamping line capable of 15 strokes per minute and up to 4 million components annually. The press, operational since 2024, underscores SEAT’s drive to modernise Martorell as it evolves into a smart, connected and sustainable EV manufacturing hub.

The PXL press line is central to SEAT’s broader industrial transformation, enabling faster, more precise production of large metal components and bolstering the facility’s readiness for volume EV production starting in 2026.

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Maruti Suzuki India, the leading passenger vehicles manufacturer in the country, has reported its financial results for Q1 FY2026.

The company sold a total of 527,861 vehicles, which comprised 430,889 units in the domestic market and 96,972 units exported. This translated to a sales decline of 4.5 percent in the domestic market, while exports grew by 37.4 percent compared to a year ago.

Maruti Suzuki India’s reported registered net sales of INR 366.2 billion, up 8.11 percent YoY, as compared to INR 338.7 billion last year. The net profit came at INR 371 billion, up 1.7 percent, as compared to INR 364.9 billion last year.

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Hyundai Motor India, one of the leading passenger vehicle manufacturers in the country, has reported its financial performance for Q1 FY2026.

The company’s revenue came at INR 164.129 billion, down 5.36 percent YoY, the EBITDA came at INR 21.85 billion, down 6.62 percent YoY, while net profit at INR 13.69 billion was down 8 percent YoY.

Unsoo Kim, Managing Director said, “We continued our stated strategy of ‘Quality of Growth’ in the first quarter of FY 2026 with balance between domestic & exports, market share and profitability. This strategy helped us to sustain strong EBITDA margin of 13.3 percent during the quarter, despite tough macro-economic environment. Moving forward, we anticipate gradual recovery in domestic demand sentiments, driven by onset of monsoon & festive season coupled with government policy measures, while on the exports front, we are confident to maintain a positive momentum, in line with our growth commitments.”

Hyundai Motor India’s performance was affected by a slowdown in its overall volumes both in domestic and exports markets. Factors such as intensifying competition, geopolitical situation and tariff confusion have affected demand.

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Mumbai-headquartered SUV major Mahindra & Mahindra has reported a 24 percent YoY increase in consolidated net profit to INR 40.83 billion for Q1 FY2026, supported by strong performances across its automotive, farm and services businesses.

The consolidated revenue grew 22 percent to INR 455.29 billion in Q1 FY2026, while return on equity stood at 20.6 percent.

During the quarter, the company increased its revenue market share in the SUV segment to 27.3 percent, its LCV market share (up to 3.5 tonnes) to 54.2 percent, and its tractor segment market share to 45.2 percent.

The standalone automotive business recorded a 31 percent increase in revenue to INR 259.99 billion, with profit before interest and tax (PBIT) up 24 percent to INR 22.21 billion. SUV volumes reached 152,000 units, contributing to total vehicle sales of 247,249 units.

The farm equipment sector saw revenue rise 12 percent to INR 108.92 billion, with PBIT up 21 percent at INR 18.19 billion. Tractor volumes grew 10 percent to 132,964 units and standalone PBIT margins improved by 130 bps to 19.8 percent.

In the services segment, Mahindra Finance’s assets under management rose 15 percent, while Tech Mahindra’s EBIT margin increased by 260 bps to 11.1 percent, with a 34 percent jump in net profit.

Dr. Anish Shah, Group CEO & Managing Director, M&M, said, “Q1 FY2026 has been an excellent quarter, with broad-based growth across all our businesses. The operating excellence in our Auto and Farm businesses is evident in continued market share gains and margin expansion. TechM is witnessing momentum on deal wins, sustaining cost discipline and is moving steadily towards its FY2027 margin objectives. MMFSL’s calibrated approach to growth is manifesting in stable asset quality, with GS3 under 4 percent as committed. Our Growth Gems are progressing well on their value creation journeys.”

Rajesh Jejurikar, Executive Director & CEO (Auto and Farm Sector), M&M, said, “Our Auto and Farm businesses continue to lead with strong momentum in Q1 FY2026, with gain of 570 bps YoY in SUV revenue share, and 340 bps YoY in LCV (<3.5T) market share. In Tractors, we gained 50 bps YoY to reach 45.2 percent market share, the highest ever in a quarter. Our Auto Standalone PBIT margin (excl. eSUV contract mfg.) improved by 50 bps to 10 percent and core Tractor PBIT margins improved by 100 bps to 20.7 percent.”

Amarjyoti Barua, Group Chief Financial Officer, M&M, said, “We are pleased with the performance of the group in the quarter, despite several macro challenges including geo-political disruptions. It demonstrates the resilience of the group. With our continued focus on capital discipline & operational metrics, we remain committed to shareholder value creation.”

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Toyota Kirloskar Motor, a leading passenger vehicle manufacturer, has signed a Memorandum of Understanding (MoU) with the Zilla Parishad to upgrade the infrastructure of the Zilla Parishad Kendriya Prathamik School (ZPKPS) in Bidkin, Chhatrapati Sambhaji Nagar, Maharashtra.

The MoU was exchanged at the Collector Office in the presence of Deelip Swami, Collector and District Magistrate, Ankit, CEO of the Zilla Parishad, officials from the Education Department and senior Toyota Kirloskar Motor representatives including Sudeep Dalvi, Chief Communication Officer and Senior Vice-President.

This school development forms part of the automaker’s education-focused corporate social responsibility (CSR) activities and aligns with its recent investment to set up a greenfield manufacturing facility in Maharashtra.

ZPKPS Bidkin, a 100-year-old school currently serving over 800 students, is expected to see enrolment rise to around 1,200. The infrastructure project will be implemented in phases over three years, from 2025 to 2028.

Education continues to be a key area in Toyota Kirloskar Motor’s CSR work, which supports national initiatives such as Skill India and the National Education Policy. The company’s focus includes early childhood care, literacy, and access to learning resources.

Deelip Swami, said, “We welcome this collaboration with Toyota Kirloskar Motor to upgrade the infrastructure of ZPKPS Bidkin, a school that has been central to educating children from economically weaker sections in the region. With student numbers expected to grow significantly, this initiative comes at a crucial time and will greatly enhance the learning environment. Strengthening public education through such collaborative efforts is key to ensuring inclusive development. We appreciate Toyota’s proactive contribution toward this shared goal and are confident that the project will create lasting value for the children and the broader community of Bidkin.”

Sudeep Dalvi, said, “At Toyota Kirloskar Motor, our commitment to nation-building extends beyond mobility solutions. We firmly believe that education is one of the most powerful enablers of long-term, inclusive development. By creating a nurturing and modern learning environment for nearly 1,200 students, we are investing in the potential of future generations. This MoU reflects our continued collaboration with government stakeholders in delivering high-impact interventions that strengthen the social fabric of our communities. This initiative marks the beginning of our engagement in the state, as we move forward, our efforts will remain rooted in our core philosophy of ‘Creating Mobility for All’—that can transform lives and uplift entire communities.”

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