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Ather Energy raises Rs 900 cr from Hero MotoCorp, GIC Electric vehicle firm Ather Energy on Wednesday said it has raised Rs 900 crore from existing shareholders Hero MotoCorp and global investment firm GIC through a rights issue. Ather Energy said it plans to use the funds for new product launch and expansion of its charging infrastructure and retail network. “Last few years have demonstrated just how quick the EV transition in India can be and how it will be led by 2 wheelers. This round will allow us to expand our product portfolio...
Ather Energy raises Rs 900 cr from Hero MotoCorp, GIC
Ather Energy raises Rs 900 cr from Hero MotoCorp, GIC
Source: IANS
6/09/2023 4:37:51 PM
Subros zooms on developing indigenous thermal EV solution for Hydrogen Cell Bus Subros is currently trading at Rs. 436.05, up by 24.60 points or 5.98% from its previous closing of Rs. 411.45 on the BSE. The scrip opened at Rs. 411.60 and has touched a high and low of Rs. 463.00 and Rs. 406.00 respectively. So far 68806 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 521.40 on 21-Jun-2023 and a 52 week low of Rs. 272.00 on 27-Feb-2023. Last one week high and low of the scrip stood at Rs. 463...
Subros zooms on developing indigenous thermal EV solution for Hydrogen Cell Bus
Subros zooms on developing indigenous thermal EV solution for Hydrogen Cell Bus
Source: Accord Fintech
4/09/2023 1:43:18 PM
Tesla slashes FSD beta software price to $12K   After significantly reducing the price of its electric vehicles (EVs), Tesla has now slashed the price of its “full self-driving” (FSD) beta software by 20 per cent. The Tesla FSD beta software now costs $12,000, a $3,000 or a 20 per cent decrease. Tesla owners can buy FSD at reduced price which includes all the “enhanced autopilot” features as well as the ability to detect and (ideally) stop at traffic lights and stop signs.  In July, Musk offe...
Tesla slashes FSD beta software price to $12K
Tesla slashes FSD beta software price to $12K
Source: IANS
2/09/2023 10:23:36 AM
Tesla cuts prices up to 19%, Model X now qualifies for US tax credit   Elon Musk-run Tesla on Friday reduced prices on the Model S and X electric vehicles, with price drops of up to 19 per cent in the US. People can buy a Model S for a base price of $74,990, $3,500 less than its earlier lowest price, or a Model X for $79,990, $8,500 less, reports Electrek. “That puts the Model X below the SUV cap, making it eligible for the US Federal EV Tax Credit, said the report The “base model” now has the larger battery, with an estimate...
Tesla cuts prices up to 19%, Model X now qualifies for US tax credit
Tesla cuts prices up to 19%, Model X now qualifies for US tax credit
Source: IANS
2/09/2023 10:15:42 AM
Tesla launches new Model 3 with 606-km driving range for $35,783 Elon Musk-run Tesla on Friday started taking orders for an upgraded Model 3 in China with a longer driving range that costs 259,900 yuan ($35,783), 12 per cent more expensive than the previous entry-level electric vehicle. The new basic edition of the Model 3 can go as far as 606 kms on a single charge, 9 per cent longer than the earlier version’s 556 kms, reports South China Morning Post. The long-range edition of the new Model 3, which can go 713 kms on a single charge, is selli...
Tesla launches new Model 3 with 606-km driving range for $35,783
Tesla launches new Model 3 with 606-km driving range for $35,783
Source: IANS
1/09/2023 3:58:49 PM
Global EV sales grow 50%, China market faces slowdown The global electric vehicle (EV) sales grew 50 per cent (year-on-year) in the second quarter (Q2) this year, as China’s domestic market continued to dominate globally but growth failed to keep pace with other major markets, a report showed on Thursday. Chinese EV companies continued to dominate as they enjoyed scale advantages at home, allowing them to account for 56 per cent of global unit sales, albeit the lowest Q2 in three years, according to Counterpoint Research. “BYD ...
Global EV sales grow 50%, China market faces slowdown
Global EV sales grow 50%, China market faces slowdown
Source: IANS
31/08/2023 5:30:44 PM
Exclusive-India`s JSW in talks with Chinese carmaker Leapmotor for Eelectric Vehical tech India's steel-to-energy JSW Group is in early talks with Chinese automaker Leapmotor to license technology to build electric vehicles in India, according to people familiar with the discussions. Under the technology licensing agreement, JSW would use Leapmotor's platform - the structural underpinnings of a car on which it is built - to manufacture EVs in India under its own brand name, the sources said, in the company's second attempt to enter the growing business. JSW is li...
Exclusive-India`s JSW in talks with Chinese carmaker Leapmotor for Eelectric Vehical tech
Exclusive-India`s JSW in talks with Chinese carmaker Leapmotor for Eelectric Vehical tech
Source: Reuters
31/08/2023 4:27:50 PM
1st-ever `Global IndiaAI 2023` event to boost AI innovations in ChatGPT era   The IT Ministry on Wednesday said that it will organise the first-ever 'Global IndiaAI 2023' event in October this year that will see participation from leading AI players, researchers, startups and investors in India and worldwide. After the huge success of the SemiconIndia conference, the Global IndiaAI event will also catalyse India's AI landscape, said Union Minister of State for Electronics and IT, Rajeev Chandrasekhar. "The Global IndiaAI 2023 conference...
1st-ever `Global IndiaAI 2023` event to boost AI innovations in ChatGPT era
1st-ever `Global IndiaAI 2023` event to boost AI innovations in ChatGPT era
Source: IANS
31/08/2023 9:33:52 AM
Government extends PLI scheme for automotive sector by 1 year until FY28: Mahendra Nath Pandey Union Heavy Industries Minister Mahendra Nath Pandey has said that the government has decided to extend the Rs 25,938-crore production-linked incentive (PLI) scheme for the automotive sector by one year. Post extension, the five-year scheme, originally in place from 2022-23 to 2026-27, will be active until 2027-28. At present, incentives are applicable under the scheme for determined sales of Advanced Automotive Technology (AAT) products (vehicles and components) manufactured in India from Ap...
Government extends PLI scheme for automotive sector by 1 year until FY28: Mahendra Nath Pandey
Government extends PLI scheme for automotive sector by 1 year until FY28: Mahendra Nath Pandey
Source: Accord Fintech
30/08/2023 11:05:58 AM
Amazon has over 6K EVs in its India delivery fleet, to reach 10K by 2025 Amazon on Monday announced that it has more than 6,000 electric vehicles (EVs) in its India delivery fleet, making deliveries in more than 400 cities.  The company said it is committed to deploy 10,000 EVs in India by 2025.  To transform its network at scale and speed, the tech giant has partnered with local original equipment manufacturers in India, including small and medium businesses, and startups, to create innovative mobility solutions.  The company worked with A...
Amazon has over 6K EVs in its India delivery fleet, to reach 10K by 2025
Amazon has over 6K EVs in its India delivery fleet, to reach 10K by 2025
Source: IANS
28/08/2023 5:09:21 PM
BP urges more oil, gas investment while speeding energy transition Global oil major BP said the world must invest in the production of oil and gas to avoid sharp price spikes while accelerating the energy transition to combat greenhouse gas emissions. Global gas prices surged seven-fold last year as 3% of global gas supplies were hit following Russia's invasion of Ukraine, forcing countries to boost energy spending and shift to coal, BP CEO Bernard Looney said in New Delhi. "We need to do both. We need to invest in today's energy system re...
BP urges more oil, gas investment while speeding energy transition
BP urges more oil, gas investment while speeding energy transition
Source: Reuters
28/08/2023 3:14:45 PM
Tesla rival Xpeng acquires Chinese giant DiDi`s smart EV assets for $744 mn In a bid to challenge Tesla’s dominance, ride hailing giant Didi Global on Monday sold its smart EV assets to electric vehicle company Xpeng for nearly $744 million. DiDi Global and XPeng jointly announced a strategic cooperation where the two will collaborate to promote the global application of smart electric vehicles and technologies. DiDi will sell certain business assets related to its smart EV development project to XPeng, which aims to launch an A-class Smart EV model in 20...
Tesla rival Xpeng acquires Chinese giant DiDi`s smart EV assets for $744 mn
Tesla rival Xpeng acquires Chinese giant DiDi`s smart EV assets for $744 mn
Source: IANS
28/08/2023 10:37:54 AM
India considering Electric Vehicles for priority sector lending, official says India's finance ministry is considering a proposal to include electric vehicles under the Reserve Bank of India's (RBI) priority sector guidelines, a move that would make it cheaper to raise funds, a government official said on Saturday. The proposal was made to the finance ministry by the power ministry. "We will discuss with the RBI, and a detailed examination will be done," the official said, requesting anonymity because the discussions are ongoing. Allowing fina...
India considering Electric Vehicles for priority sector lending, official says
India considering Electric Vehicles for priority sector lending, official says
Source: Reuters
27/08/2023 9:11:55 AM
BP urges more oil, gas investment while speeding energy transition Global oil major BP said the world must invest in the production of oil and gas to avoid to sharp price spikes while accelerating the energy transition to combat greenhouse gas emissions. Global gas prices surged seven-fold last year as 3% of global gas supplies were hit following Russia's invasion of Ukraine, forcing countries to boost energy spending and shift to coal, BP CEO Bernard Looney said in New Delhi. "We need to do both. We need to invest in today's energy system...
BP urges more oil, gas investment while speeding energy transition
BP urges more oil, gas investment while speeding energy transition
Source: Reuters
27/08/2023 8:52:08 AM
Exclusive-With Tesla push, India mulls import tax cut if EV makers build locally India is working on a new electric vehicle policy that would slash import taxes for automakers that commit to some local manufacturing, following a proposal by Tesla which is considering entering the domestic market, people with direct knowledge said. The policy being considered could allow automakers to import fully-built EVs into India at a reduced tax as low as 15%, compared to the current 100% that applies to cars which cost above $40,000 and 70% for the rest, said two of the sources, ...
Exclusive-With Tesla push, India mulls import tax cut if EV makers build locally
Exclusive-With Tesla push, India mulls import tax cut if EV makers build locally
Source: Reuters
25/08/2023 3:11:02 PM
View on Tata Motors EV Update: Strong Quarter, Ambitious Targets Ahead from Saji John, Geojit Financial Services Below the view on Tata Motors EV Update: Strong Quarter, Ambitious Targets Ahead from Saji John, Research Analyst at Geojit Financial Services "On the EV side, Tata Motors ended the quarter with a total of 19,000 units, putting it on course for a full-year volume of 100,000 units, supported by current order book & new launches lined up. Moreover, Tata’s market dominance remains at 76% despite significant competitive intervention during the quarter. The company inte...
View on Tata Motors EV Update: Strong Quarter, Ambitious Targets Ahead from Saji John, Geojit Financial Services
View on Tata Motors EV Update: Strong Quarter, Ambitious Targets Ahead from Saji John, Geojit Financial Services
Source: PR Agency
23/08/2023 11:12:47 AM
Solid-state batteries, software essential for bigger share in EV era   South Korean carmakers need to speed up developing all-solid-state lithium batteries and securing electric vehicle-related software capabilities to gain a bigger share in the era of electric vehicles (EVs), an auto industry expert has said. All current EVs are powered by lithium-ion batteries, which can catch fire once they enter an uncontrolled, self-heating state known as "thermal runaway" in which the fires burn so hot and quickly that it can be extremely difficult t...
Solid-state batteries, software essential for bigger share in EV era
Solid-state batteries, software essential for bigger share in EV era
Source: IANS
21/08/2023 4:09:24 PM
Wardwizard Innovations jumps on inking long term OEM agreement with A&S Power Wardwizard Innovations & Mobility is currently trading at Rs. 41.10, up by 0.90 points or 2.24% from its previous closing of Rs. 40.20 on the BSE. The scrip opened at Rs. 40.70 and has touched a high and low of Rs. 41.75 and Rs. 40.26 respectively. So far 597204 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 78.00 on 06-Dec-2022 and a 52 week low of Rs. 33.21 on 13-Jul-2023. Last one week high and low of th...
Wardwizard Innovations jumps on inking long term OEM agreement with A&S Power
Wardwizard Innovations jumps on inking long term OEM agreement with A&S Power
Source: Accord Fintech
21/08/2023 12:07:34 PM
India sees over 120% growth in EVs, hybrid vehicles surge 400% India saw 120 per cent growth in electric vehicles (EVs) in the second quarter of this year, driven by a 400 per cent surge in hybrid vehicles, a report showed on Monday. Assistance systems (ADAS) rapidly expanded by 350 per cent (year-on-year) and the adoption of connected and digital cockpit features continue to gain steady traction in passenger vehicles, surpassing 60 per cent, according to the report by CyberMedia Research (CMR). The surge in EV adoption was driven by the introducti...
India sees over 120% growth in EVs, hybrid vehicles surge 400%
India sees over 120% growth in EVs, hybrid vehicles surge 400%
Source: IANS
21/08/2023 11:48:00 AM
Gogoro partners with Swiggy to provide smart scooters to delivery partners Global technology leader in battery-swapping ecosystems, Gogoro on Thursday announced an electric vehicle (EV) partnership with online food-delivery platform Swiggy. Under this partnership, Gogoro will provide its smart scooters and battery-swapping infrastructure for Swiggy’s delivery fleet in the country. “Accelerating the electric transformation of India’s hyperlocal fleets is a top priority for Gogoro and India’s national and city governments. Partnering with...
Gogoro partners with Swiggy to provide smart scooters to delivery partners
Gogoro partners with Swiggy to provide smart scooters to delivery partners
Source: IANS
17/08/2023 2:05:04 PM
Texas to impose fee on electric vehicles Starting September, electric vehicle (EV) drivers in Texas, the second largest state in the US, will have to pay an extra $200 each year to register their vehicles, local media has reported. If they want to buy another EV, that will cost $400 upfront, according to a new state law imposing the new fee on EVs to replace gas taxes lost to electrification. The fee will not apply to hybrid vehicles, Xinhua news agency reported. Revenue collected from the fee will be deposited into the state ...
Texas to impose fee on electric vehicles
Texas to impose fee on electric vehicles
Source: IANS
17/08/2023 10:10:32 AM
India`s Amara Raja Batteries to expand into two-wheeler market to power growth India's Amara Raja Batteries plans to expand into the two-wheeler electric vehicle (EV) market, first through chargers and then batteries, as part of an expansion to triple its lithium-ion business this financial year, a top executive said. Amara Raja, which currently has customers only in the three-wheeler EV market, gets about 2.5% of its revenue from its lithium-ion battery business, while the rest of its total revenue of 103.85 billion rupees ($1.25 billion) in fiscal 2023 was from...
India`s Amara Raja Batteries to expand into two-wheeler market to power growth
India`s Amara Raja Batteries to expand into two-wheeler market to power growth
Source: Reuters
16/08/2023 5:21:04 PM
India approves $7 billion plan for electric buses in nearly 170 cities India approved plans on Wednesday to deploy 10,000 electric buses in 169 cities, along with charging and associated infrastructure facilities, at an estimated cost of nearly 580 billion rupees ($7 billion) for a decade. The federal government will fund 200 billion rupees ($2.4 billion) of the cost of the scheme, based on a public-private partnership model, but it was not immediately clear if funds for the rest would come from state governments or private companies. Shares of companies t...
India approves $7 billion plan for electric buses in nearly 170 cities
India approves $7 billion plan for electric buses in nearly 170 cities
Source: Reuters
16/08/2023 4:59:50 PM
Hyundai partners Chinese EV firm for charging services in China Hyundai Motor Group said on Monday it has partnered with Chinese electric vehicle (EV) charging service information provider NaaS Technology for future EV charging business opportunities. Hyundai signed an initial pact with Naas at the Chinese firm's headquarters in Beijing on Monday to jointly develop customized EV charging services based on its connected services platform and NaaS' charging infrastructure data, the company said in a statement. NaaS, the first U.S.-listed EV ch...
Hyundai partners Chinese EV firm for charging services in China
Hyundai partners Chinese EV firm for charging services in China
Source: IANS
14/08/2023 5:47:09 PM
Servotech signs MoU with Uttar Pradesh Government to establish an EV Charger Manufacturing Plant in Uttar Pradesh  India’s leading EV Charger manufacturer Servotech Power Systems Ltd. signed an MoU with Government of Uttar Pradesh to set up an EV Charger manufacturing plant in the state along with backward integration. The plant will be set up under the Uttar Pradesh Electric Vehicle Manufacturing and Mobility Policy 2022.   The MoU was signed by Raman Bhatia, Managing Director, Servotech Power Systems Ltd., and Shri Nand Gopal Gupta ‘Nandi’, Hon’ble Minister of Indu...
Servotech signs MoU with Uttar Pradesh Government to establish an EV Charger Manufacturing Plant in Uttar Pradesh
Servotech signs MoU with Uttar Pradesh Government to establish an EV Charger Manufacturing Plant in Uttar Pradesh
Source: PR Agency
11/08/2023 5:39:11 PM
Bharat Forge rides high on getting nod to further invest in Kalyani Powertrain Bharat Forge is currently trading at Rs. 949.65, up by 44.70 points or 4.94% from its previous closing of Rs. 904.95 on the BSE. The scrip opened at Rs. 904.90 and has touched a high and low of Rs. 951.05 and Rs. 887.55 respectively. So far 96776 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 951.05 on 09-Aug-2023 and a 52 week low of Rs. 677.85 on 29-Sep-2022. Last one week high and low of the scrip stood at R...
Bharat Forge rides high on getting nod to further invest in Kalyani Powertrain
Bharat Forge rides high on getting nod to further invest in Kalyani Powertrain
Source: Accord Fintech
9/08/2023 3:11:54 PM
South Korea`s Hyundai to launch more EVs in India South Korea's Hyundai Motor Group said on Tuesday it plans to launch more electric vehicles (EVs) under the Hyundai and Kia brands in India, in a sign that it is betting big on the world's third-largest auto market. Hyundai, already India's second-biggest carmaker by sales, will introduce five EV models by 2032 to add to the two it already sells -- the Kona and Ioniq 5 sport utility vehicles (SUVs). It will also grow its charging stations to 439 by 2027. Kia will start produ...
South Korea`s Hyundai to launch more EVs in India
South Korea`s Hyundai to launch more EVs in India
Source: Reuters
8/08/2023 6:35:59 PM
Tata Motors joins hands with South Indian Bank, offers exclusive financing program for authorized passenger EV dealers  In a bid to make this festive season special, Tata Motors, India’s leading automotive manufacturer, has joined hands with South Indian Bank, one of India’s leading private sector banks, to extend an exclusive Electric Vehicle Dealer Financing Program and offering comprehensive retail financing solutions to all customers.     The MoU for this partnership was signed by Mr. Ramesh Dorairajan, Senior General Manager – Network Management & EV Sales,...
Tata Motors joins hands with South Indian Bank, offers exclusive financing program for authorized passenger EV dealers
Tata Motors joins hands with South Indian Bank, offers exclusive financing program for authorized passenger EV dealers
Source: PR Agency
7/08/2023 1:58:37 PM
Jio-bp`s EV charging business footprint expands big Jio-bp is leading from the front in India's EV transition. Jio-bp is partnering with several players from automobile sector, real estate and mall developers, e-commerce players, fleet operators, corporates and other large establishments to create a robust public EV charging infrastructure and battery swapping network. Operating under the brand Jio-bp Pulse, Jio-bp has added over 1,000+ public charge points in FY 2022-23, taking their network strength to 1,400+ across 8 cities and major...
Jio-bp`s EV charging business footprint expands big
Jio-bp`s EV charging business footprint expands big
Source: IANS
6/08/2023 4:22:08 PM
Mahindra`s EV unit raises funds from Temasek at $9.8 billion valuation Mahindra and Mahindra has raised $145 million from Temasek for its electric vehicle unit at a valuation of up to 805.8 billion rupees ($9.8 billion), the latest fundraising by the Indian automaker as it looks to ramp up EV sales. Temasek will take up to a 3% stake in the company which last year raised up to $250 million from British International Investments (BII) at a valuation of as much as $9.1 billion. The automaker is aggressively trying to lift the share of its electric SUVs in a ...
Mahindra`s EV unit raises funds from Temasek at $9.8 billion valuation
Mahindra`s EV unit raises funds from Temasek at $9.8 billion valuation
Source: Reuters
3/08/2023 7:08:53 PM
Foxconn EV venture targets India, Thailand for new small car Foxconn's venture attempting to build a standardised electric vehicle platform is targeting India or Thailand for the production of a small battery-powered car under development, the unit's chief executive said. The Taiwanese company's EV platform unit Mobility in Harmony (MIH) would be willing to work with its parent or another company to build the new three-seat EV priced below $20,000 and tailor-made for a corporate delivery fleet, MIH CEO Jack Cheng told Reuters in an inter...
Foxconn EV venture targets India, Thailand for new small car
Foxconn EV venture targets India, Thailand for new small car
Source: Reuters
1/08/2023 11:09:59 AM
Foxconn to set up mobile component facility in Tamil Nadu investing Rs 1,600cr Taiwanese electronics major Hon Hai Technology Group or Foxconn will be setting up a mobile phone component manufacturing facility in Tamil Nadu's Kancheepuram district at an outlay of Rs 1,600 crore. An agreement to this effect was signed between Foxconn and Tamil Nadu government's Guidance Bureau in the presence of Chief Minister M.K. Stalin.  The Foxconn team led by the Group Chairman Young Liu had met Stalin here.  "Was delighted to meet the Foxconn Group C...
Foxconn to set up mobile component facility in Tamil Nadu investing Rs 1,600cr
Foxconn to set up mobile component facility in Tamil Nadu investing Rs 1,600cr
Source: IANS
1/08/2023 9:43:08 AM
Foxconn to set up mobile component facility in Tamil Nadu investing Rs 1,600cr Taiwanese electronics major Hon Hai Technology Group or Foxconn will be setting up a mobile phone component manufacturing facility in Tamil Nadu's Kancheepuram district at an outlay of Rs 1,600 crore.  An agreement to this effect was signed between Foxconn and Tamil Nadu government's Guidance Bureau in the presence of Chief Minister M.K. Stalin.  The Foxconn team led by the Group Chairman Young Liu had met Stalin here.  "Was delighted to meet the Foxconn G...
Foxconn to set up mobile component facility in Tamil Nadu investing Rs 1,600cr
Foxconn to set up mobile component facility in Tamil Nadu investing Rs 1,600cr
Source: IANS
31/07/2023 6:08:06 PM
Maruti Suzuki India to buy out Suzuki Motor Corporation share in Gujarat plant Automobile major Maruti Suzuki India Ltd has decided to acquire Suzuki Motor Gujarat Pvt Ltd (SMG) from its Suzuki Motor Corporation (SMC) for a sum to be arrived at later, a top official said. Briefing reporters about the Board of Directors' decision, Chairman R.C.Bhargava said the SMG was set up as a 100 per cent contract manufacturer for Maruti Suzuki India in Gujarat in 2014. Over the years, the dynamics of the automobile industry has changed with several powertrain technologies...
Maruti Suzuki India to buy out Suzuki Motor Corporation share in Gujarat plant
Maruti Suzuki India to buy out Suzuki Motor Corporation share in Gujarat plant
Source: IANS
31/07/2023 5:39:35 PM
Tesla executives hold market entry talks with India investment agency Two senior Tesla executives discussed the company's plans to enter India with officials from the country's investment promotion arm in New Delhi, two people with direct knowledge of the matter said, the latest in a series of high-level talks. The U.S. carmaker has expressed an interest in building a factory in India that would produce a low-cost electric vehicle (EV) priced at $24,000, around 25% cheaper than Tesla's current entry model, for both the Indian market and export. ...
Tesla executives hold market entry talks with India investment agency
Tesla executives hold market entry talks with India investment agency
Source: Reuters
29/07/2023 9:19:44 AM
Zypp Electric empowers employees with INR 1.5 Cr ESOP buyback, a first in the EV industry Zypp Electric, India’s leading tech-enabled EV-as-a-Service platform, recently announced its first Employee Stock Ownership Plan (ESOP) buyback, allocating around INR 1.5 Crore to 15 dedicated employees who have been associated more than a year of service within the company. This initiative is a step further toward the company's commitment to empowering its workforce and fostering a culture of shared success. Zypp Electric is the first company in the EV segment to offer ESOP buyback...
Zypp Electric empowers employees with INR 1.5 Cr ESOP buyback, a first in the EV industry
Zypp Electric empowers employees with INR 1.5 Cr ESOP buyback, a first in the EV industry
Source: PR Agency
27/07/2023 6:00:37 PM
Tesla to discuss factory plan for new $24,000 car with India commerce minister Tesla representatives are set to meet India’s commerce minister this month to discuss plans to build a factory to produce what the company has described as an all-new $24,000 car, a person with direct knowledge of the matter told Reuters. Tesla has expressed an interest in building a factory in India that would produce low-cost electric vehicles (EVs) for the local market and for export, the person said, adding that the company had indicated that it would be for the new vehicle. T...
Tesla to discuss factory plan for new $24,000 car with India commerce minister
Tesla to discuss factory plan for new $24,000 car with India commerce minister
Source: Reuters
24/07/2023 6:19:04 PM
India`s TVS Motor beats Q1 profit view on two-wheeler demand India's TVS Motor reported a bigger-than-expected rise in first-quarter profit on Monday, helped by strong demand for its two-wheelers, including its flagship electric scooter. The Apache motorbike maker reported a near 46% jump in profit to 4.68 billion rupees ($57.2 million) for the quarter ended June 30, beating analysts' average estimate of 4.36 billion rupees, according to Refinitiv IBES data. TVS Motor, which exports two-wheelers to Asia, Africa and America, said its reven...
India`s TVS Motor beats Q1 profit view on two-wheeler demand
India`s TVS Motor beats Q1 profit view on two-wheeler demand
Source: Reuters
24/07/2023 4:19:38 PM
Only 0.8% electric vehicles in country out of 34 crore vehicles registered Electric vehicles constitute a miniscule 0.8 per cent of the total number of vehicles registered in the country, despite government pushing for greener vehicles since 2015. According to an official data, out of the total slightly over 34 crore vehicles registered with road transport ministry's e-vahan portal, as on July 14, 2023, only over 27 lakh vehicles were registered as electrical vehicles. As many as 34,00,08,524 vehicles were registered with the transport ministry till July 1...
Only 0.8% electric vehicles in country out of 34 crore vehicles registered
Only 0.8% electric vehicles in country out of 34 crore vehicles registered
Source: IANS
23/07/2023 6:29:45 PM
Servotech Power Systems Ltd. Announces Q1 Results for FY23-24, PAT increases 10 folds Servotech Power Systems Ltd. (NSE:SERVOTECH), a leading manufacturer of Solar, Electric Vehicle (EV) chargers, Power-backup and other smart power solutions, presented its quarterly financial results for the quarter ended June 30, 2023 at its Board of Directors meeting on July 21, 2023. Total Revenue witnessed stellar growth of 148.9% in Q1 FY24 to Rs.79.8 Crs from Rs. 32.1 Crs in Q1 FY23 on YoY basis respectively. This impressive increase can be attributed to the strong demand for our EV p...
Servotech Power Systems Ltd. Announces Q1 Results for FY23-24, PAT increases 10 folds
Servotech Power Systems Ltd. Announces Q1 Results for FY23-24, PAT increases 10 folds
Source: PR Agency
23/07/2023 12:51:59 PM
Olectra Greentech rises on awarding contract to Megha Engineering & Infrastructures Olectra Greentech is currently trading at Rs. 1328.00, up by 21.35 points or 1.63% from its previous closing of Rs. 1306.65 on the BSE. The scrip opened at Rs. 1320.55 and has touched a high and low of Rs. 1345.00 and Rs. 1314.95 respectively. So far 8418 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 4 has touched a 52 week high of Rs. 1465.00 on 13-Jul-2023 and a 52 week low of Rs. 374.35 on 23-Feb-2023. Last one week high and low of the scrip ...
Olectra Greentech rises on awarding contract to Megha Engineering & Infrastructures
Olectra Greentech rises on awarding contract to Megha Engineering & Infrastructures
Source: Accord Fintech
20/07/2023 10:06:05 AM
India's Tata chooses UK for $5 billion Jaguar Land Rover gigafactory India's Tata Group will build an electric vehicle battery plant in Britain to supply its Jaguar Land Rover factories, delivering a major boost for a UK car industry in need of domestic battery production to help secure its future. The announcement marks Britain's biggest move in the car gigafactory space as it seeks to keep up with the United States and European Union in the race to develop green industries. Tata said on Wednesday it would build its first gigafactory outside of ...
India's Tata chooses UK for $5 billion Jaguar Land Rover gigafactory
India's Tata chooses UK for $5 billion Jaguar Land Rover gigafactory
Source: Reuters
19/07/2023 7:33:42 PM
Tata picks Britain for new EV battery plant India's Tata will build an electric vehicle battery plant in Britain, the company and the government said on Wednesday, in a major boost for a car industry in need of domestic battery production to help secure its long-term future. The company said the factory includes an investment of 4 billion pounds ($5.2 billion). Britain's government declined to immediately detail what support it had provided as part of the deal. "Tata Group's multi-billion-pound investment in a ne...
Tata picks Britain for new EV battery plant
Tata picks Britain for new EV battery plant
Source: Accord Fintech
19/07/2023 11:55:55 AM
Fisker to sell limited edition electric SUVs in India by fourth quarter U.S. startup Fisker said on Monday it would produce 100 limited edition electric sports utility vehicles (SUVs) for the Indian market and expects to begin deliveries in the fourth quarter this year. The company had said in September it would begin selling its Ocean electric SUVs in India by July 2023, with local production beginning in a few years. But it now expects to complete the final checks for the SUV, named Fisker Ocean Extreme Vigyan, for India by the end of September, with its ...
Fisker to sell limited edition electric SUVs in India by fourth quarter
Fisker to sell limited edition electric SUVs in India by fourth quarter
Source: Reuters
17/07/2023 7:50:37 PM
Shakti Pumps (India) jumps on investing Rs 2 crore in Shakti EV Mobility Shakti Pumps (India) is currently trading at Rs. 597.50, up by 10.65 points or 1.81% from its previous closing of Rs. 586.85 on the BSE. The scrip opened at Rs. 580.90 and has touched a high and low of Rs. 603.50 and Rs. 580.00 respectively. So far 3584 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 630.00 on 10-Jul-2023 and a 52 week low of Rs. 380.15 on 26-Dec-2022. Last one week high and low of the scrip st...
Shakti Pumps (India) jumps on investing Rs 2 crore in Shakti EV Mobility
Shakti Pumps (India) jumps on investing Rs 2 crore in Shakti EV Mobility
Source: Accord Fintech
17/07/2023 12:22:07 PM
Exclusive-BYD proposes $1 billion India plan to build EVs, batteries - sources China's BYD Co has submitted a $1 billion investment proposal to build electric cars and batteries in India in partnership with a local company, three people with direct knowledge of the plan told Reuters. BYD and privately held Hyderabad-based Megha Engineering and Infrastructures have submitted a proposal to Indian regulators to form an EV joint venture, the people said, asking not to be named because the application is private. The longer-term plan is to build a full line-up of B...
Exclusive-BYD proposes $1 billion India plan to build EVs, batteries - sources
Exclusive-BYD proposes $1 billion India plan to build EVs, batteries - sources
Source: Reuters
14/07/2023 6:56:28 PM
NXP, Mahindra join hands to drive next-gen smart e-mobility in India NXP Semiconductors on Friday signed a Memorandum of Understanding (MoU) with Mahindra & Mahindra Ltd to explore the electric and connected vehicle landscape, covering a wide range of vehicles, including utility vehicles, light commercial vehicles, farm equipment, and tractors in India. Mahindra will get access to NXP's robust partner ecosystem, comprising Tier 1, ODM, IDH, module vendors, and integrators.  The partnership will also provide valuable insights into NXP's t...
NXP, Mahindra join hands to drive next-gen smart e-mobility in India
NXP, Mahindra join hands to drive next-gen smart e-mobility in India
Source: IANS
14/07/2023 4:08:05 PM
Exclusive-BYD proposes $1 billion India plan to build EVs, batteries China's BYD Co has submitted a $1 billion investment proposal to build electric cars and batteries in India in partnership with a local company, three people with direct knowledge of the plan told Reuters. BYD and privately held Hyderabad-based Megha Engineering and Infrastructures have submitted a proposal to Indian regulators to form an EV joint venture, the people said, asking not to be named because the application is private. The longer-term plan is to build a full line-up of B...
Exclusive-BYD proposes $1 billion India plan to build EVs, batteries
Exclusive-BYD proposes $1 billion India plan to build EVs, batteries
Source: Reuters
14/07/2023 12:49:14 PM