Page 15 - Electric Vehicles In India

Zypp Electric raises $15 million funding from Japanese firm ENEOS

EV-as-a-service platform Zypp Electric on Monday said it has raised USD 15-million funding from Japanese firm ENEOS. The series C funding comprises USD 15-million in equity closure, as part of its ongoing USD 50-million round, which comprises USD 40-million in equity and USD 10-million in debt, the company said in a statement. The fresh capital raised under Series C, in which other investors existing investors 9unicorns, IAN fund, venture catalysts, WFC and others also participated, will be utilised to expand Zypp's fleet from 21,000 to 2-lakh electric scooters and extend its services to 15 cities across India by 2026, it added. The fresh investment will help Zypp in the last-mile delivery space with sustainable EV solutions, said Akash Gupta, Co-founder and CEO of Zypp Electric. "We are eager to expand our fleet and enhance our tech platform, driving significant growth across India. These funds will be utilised to drive the company towards the full path of growth along with earni

India should stay focused on promoting EVs: Kia's Hardeep Singh Brar

It is not just the Centre. During the last several months, certain state governments like Telangana and Karnataka have decided to reintroduce road taxes on EVs, adding another layer of complexity

'Volkswagen in talks about passenger car production partnership in India'

The comments come after Volkswagen in February signed a supply agreement with India's Mahindra on the use of key electric components of the German carmaker's open platform for electric vehicles

Centre to conduct second round of consultation for new EV schemes

The Ministry of Heavy Industries will release policy guidelines and start accepting applications after July 15

FAME-II guidelines clear and companies defaulted knowingly, says govt

The ministry has started the investigation in the cases of subsidy violation in April last year to probe procedural lapses and role of officers that led to the funds wrongly being disbursed

Expecting good response from several firms on EV policy: DPIIT Secy

The government on Saturday said India is expecting good response from many automobile companies on its electric-vehicle (EV) policy, which was released in March to attract global players like Tesla. Secretary in Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh said that in the policy, the government has used tariff tweaks without actually spending any money to seek commitments from manufacturers to set up base in India. "Everybody talks about one company (US-based EV major Tesla), but we are expecting responses from many companies to that policy," Singh said here at CII's annual business summit. On March 15, the government approved an electric-vehicle policy, under which duty concessions will be given to companies setting up manufacturing units in the country with a minimum investment of USD 500 million, a move aimed at attracting major global players like Tesla. As per the policy, a company will get three years to set up manufacturing facilities i

Electric vehicle components maker Matel raises $4 million in funding

Founded in 2017, Matel manufactures synchronous machines and motor controllers for e-mobility, industrial applications, agricultural pumping, and the HVAC sector

Chinese EV maker Leapmotor to enter India in third quarter of 2024-25

Stellantis and Leapmotor announced on Tuesday that they have received all required approvals to form Leapmotor International BV, a 51:49 joint venture led by Stellantis

US tariff hike on Chinese goods: Experts fear China may dump EV, batteries

India also has a policy in place that requires the government's approval to allow FDI proposals from countries sharing land borders, such as China

US plans to impose new tariffs on EVs, other Chinese green energy imports

The Biden administration plans to impose major new tariffs on electric vehicles, semiconductors, solar equipment and medical supplies imported from China, according to a U.S. official and another person familiar with the plan. Tariffs on electric vehicles, in particular, could quadruple from the existing 25% to 100%. The plan was described by the people on condition of anonymity because they were not authorized to provide details ahead of a formal announcement. The tariffs, expected to be announced Tuesday, come as officials across the Democratic administration have expressed frustration over China's manufacturing overcapacity of EVs and other products that they say pose a threat to U.S. jobs and national security. Industrialized nations including the United States and its European allies fear a wave of low-priced Chinese exports will overwhelm domestic manufacturing. On the U.S. side, there is particular concern that China's green energy products will undermine massive ...

Ola Electric commences deliveries of its mass-market S1 X scooters

The S1 X range comes with the requested physical key and caters to customers with different range requirements

Maruti considering launching electric hatchback: MD & CEO Hisashi Takeuchi

Customers moving from two-wheelers to cars key to revitalising hatchback growth, says MD & CEO Takeuchi

Amazon unveils first electric seaport trucks amid push to slash emissions

The e-commerce giant said it already has eight of those semi trucks in use at the Los Angeles/Long Beach port complex, where every so-called drayage truck must be zero-emissions by 2035

M&M, Tata Motors, Maruti Suzuki: What is driving the rally in these stocks?

With 3XO's launch, M&M management aims to be among the top two players in the compact SUV segment over the course of three years

Hyundai India to have 5 new EVs by 2030, launch first electric SUV in 2024

Company will 'proactively build' charging stations to facilitate the adoption of EVs in country

Battery stocks' rally likely to extend in May after $2 billion surge

Exide and Amara Raja added a combined market value of about $2 bn in April as investors boosted their bets in the nascent clean car market

VinFast chief plans to invest $1 bn more from his fortune in EV maker

Pham Nhat Vuong also said Vingroup was considering listing its hospitality unit Vinpearl this year

Chinese EV manufacturers may be excluded from India's policy concessions

India will continue to allow imports of Chinese BYD vehicles but will not be extending investment opportunities

Automakers from GM to Volvo eye cuts as 2-way EV charging becomes real

For many years V2G remained largely theoretical, as the Nissan Leaf was the sole EV capable of it

Odysse Electric looking to raise $5-10 million for expansion, says CEO

Electric two-wheeler maker Odysse Electric is looking to raise USD 5-10 million to drive its growth plans, including new product development and scaling up manufacturing capabilities, as it sets sight on the mass segment, company's Chief Executive Officer Nemin Vora has said. The company has already started the process to secure external funding, which is expected to be completed by the current quarter of this fiscal, Vora said in an interaction with PTI. Operational since 2020, the city-based EV maker with over 60 dealerships across 20-plus states claims to have sold over 10,000 vehicles in the domestic market till date, besides having an order book of over 20,000 vehicles through its B2B channel. Odysse offers seven vehicle models with 12 variants, comprising both high- and low-speed electric scooters as well as bikes. "We are seeking external capital to finance our growth and capture a significant share of the Indian E2W (electric two-wheeler) market," Vora told PTI. "The compa