India’s Ola Electric plans to file regulatory papers for its up to USD 700 million IPO before the end of October as the e-scooter maker fast-tracks its listing move, three people with direct knowledge said. Backed by investors including Singapore’s Temasek and Japan’s SoftBank, Ola Electric was valued at USD 5.4 billion in a recent […]
Leading commercial vehicle manufacturer Ashok Leyland will set up an electric bus manufacturing unit in Uttar Pradesh. A memorandum of understanding (MoU) was signed in this regard between Ashok Leyland and the Uttar Pradesh government at a programme organised in the presence of Chief Minister Yogi Adityanath on Friday. Under the MoU, Ashok Leyland will […]
US-based electric vehicle maker Tesla is targeting to buy components worth USD 1.9 billion from India this year. Last year, the company bought components worth USD 1 billion from India, said Commerce and Industry Minister Piyush Goyal on Wednesday. Goyal was speaking at the 63rd Annual Session of the Automobile Component Manufacturers Association of India […]
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 […]
Maersk, a global integrated logistics operator, on Monday said that it is planning to add over 300 electric vehicles to its fleet in India by October. The company has already deployed over 200 Electric Vehicles (EVs) across 15 cities in the country, and is planning to expand to another 11 cities, taking its overall EV […]
India might contemplate permitting foreign vendors of Tesla, specifically those in China, to produce essential components within the country. However, the government is not inclined towards granting special exemptions exclusively for Tesla or any other specific company. This development carries significance due to the fact that certain crucial components required for electric vehicles, such as […]
In a major development, Tata Group has announced that it will establish a battery cell gigafactory in the UK. “Today, I am delighted to announce the Tata Group will be setting up one of Europe’s largest battery cell manufacturing facilities in the UK,” said N Chandrasekaran, Chairman of Tata Sons, adding that the Group is […]
Pioneer Corporation today announced plans to expand its footprint in India by adding R&D presence. “By establishing R&D at Pioneer India in Gurugram and Bengaluru office, we will accelerate creating of innovation and develop innovative products and services in the mobility field as well as focusing on recruiting and training engineers with the aim of […]
Tata Technologies has come forward to set up three Common Engineering Facilities Centres (CEFCs) in the state by investing Rs 2,000 crore, Karnataka minister MB Patil said on Wednesday. Representatives of the leadership team of the company met Minister for Large and Medium Industries MB Patil at Vidhana Sabha on Wednesday and submitted the proposal […]
TVS Motor Company has reported a steady growth in sales for the month of June 2023. The company registered a 3 per cent increase in overall sales, with the number of units sold rising from 308,501 in June 2022 to 316,411 in June 2023. The two-wheeler segment of TVS saw a 4 per cent growth, […]
