Page 20 - Electric Vehicles

Maruti Q4FY25 results: Net profit drops 4.3% amid tepid car sales

MSIL chairman R C Bhargava said that the larger part of the sales growth is being recorded in the rural market

Ather Energy garners Rs 1,340 cr from anchor investors ahead of IPO

Electric two-wheeler maker Ather Energy Ltd on Friday said it has mobilised Rs 1,340 crore from anchor investors days ahead of the launch of its initial share sale for public subscription. The Ather Energy IPO opens for public subscription on April 28. Some of the key anchor investors who were allocated shares include Custody Bank of Japan, Franklin Templeton, Abu Dhabi Investment Authority, Eastspring Investments, Morgan Stanley Investment Management and Societe Generale. PSBI Mutual Fund (MF), Aditya Birla Sun Life MF, ICICI Prudential MF, Invesco MF, Aditya Birla Sun Life Insurance, ITI MF and Union MF are among the anchor investors. According to a circular uploaded on BSE's website, the electric two-wheeler maker has allotted 4.17 crore shares to 36 funds at Rs 321 apiece, which is also the upper end of the price band. This aggregates the transaction size to Rs 1,340 crore. The Rs 2,981-crore public issue, with a price band of Rs 304 to Rs 321 a piece, will be available for pu

India's PV volume to cruise past 5 million in FY26 despite slow growth

As volume growth slows, original equipment manufacturers (OEMs) will rely on premiumisation and better product mix to protect margins

Maruti Suzuki plans up to $1 bn capex for new EV launch, higher exports

The company is already India's biggest exporter of cars, and the e-Vitara key will be key to further boost its overseas shipments, which it plans to grow by 20% in the current fiscal year

Stellantis to launch Leapmotor EVs in India to boost mobility drive

The entry of the Leapmotor brand into the market aligns with Stellantis' ambition to drive innovation and expand its EV footprint in one of the world's fastest-growing automotive landscapes

EV car policy may be tweaked based on free trade agreement outcomes

The Centre notified SMEC in March last year to turn India into a hub of electric vehicle (EV) manufacturing

Tesla rival VinFast plans to open India plant by end of June, says CEO

VinFast, the Nasdaq-listed global rival of American EV giant Tesla, had selected Thoothukudi in Tamil Nadu for its $2 billion facility

Ex-Tesla hand steers San Fransisco-based Zeno into India e-motorcycle race

First model to roll out at mass-market prices by Q4 2025

IPO-bound Ather Energy banks on upcoming Maharashtra unit for growth

Sets price band of Rs 304-321 per share for IPO which opens on April 28

Xiaomi postpones release of first SUV following fatal road accident

The delay sets back Xiaomi's $10 billion EV project, which billionaire co-founder and Chairman Lei Jun has described as his last startup endeavor

Ather Energy sets IPO price band in range of ₹304 to ₹321 per share

The Tiger Global-backed company trimmed its IPO size on Tuesday to ₹2,626 crore ($308.3 million), down from its initial aim of raising ₹3,100 crore

Here's why Huawei's expansion in smart driving stirs competition, scrutiny

In the EV era, companies are reconfiguring how cars are designed and function. The "brains" of a vehicle have a power that extends way beyond cruise control, emergency braking or parking sensors

India's push for electric scooters, tuk-tuks fuels battery swapping market

Now growth in sales of battery-powered two-and-three wheelers, favored by tuk-tuk operators, gig workers and for quick-commerce delivery fleets, is finally giving the sector some momentum

Delhi to expand bus fleet with 2,080 electric vehicles, retire 1K old ones

The Delhi transport department is set to add 2,080 electric vehicles to its bus fleet over the year, an official said on Monday. It currently operates around 7,000 buses in the city. But around 1,000 of those are set to get off road this year with some already being retired. "We have signed a memorandum of understanding with five different concessioners to procure 1,040 buses. For the second set of 1,040 buses, we will sign agreements soon. Once they start rolling out, it would plug the gap created due to decommissioning of ageing buses," said a transport department official. According to the plan, 1,040 buses will be added to the fleet in the first phase under the Centre's National Electric Bus Programme (NEBP). The scheme aims at introducing e-buses across the nation. The second lot of 1,040 buses will be part of the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) scheme. The scheme aims to incentivise over 14,000 e-buses across nine major cities with

BluSmart users' wallet woes: 'Closed loop' model may pose refund issues

Closed loop prepaid payment instruments (PPIs), such as the BluSmart wallet, enable users to only purchase services from the ride-hailing entity alone

BluSmart's shock exit leaves India's green mobility market up for grabs

According to data from brokerage firm Motilal Oswal published in January, Uber leads the country's cab-hailing market on average daily rides and monthly active users

Burnt by BluSmart: Gensol meltdown puts solar energy solutions at risk

Startups supported by venture capitalists and private equity investors accept large cash burns and running losses, so long as there's high growth rates

Sebi investigation into BluSmart likely to slow Uber's EV push in India

Uber's EV ambitions in India are focused on accelerating the shift to zero-emission mobility, with a goal of electrifying every ride on its platform by 2040

Amid Gensol crisis, BluSmart says wallet refunds will take up to 90 days

Many users have voiced concerns about the lack of transparency regarding BluSmart's refund process. The development unfolds amid an ongoing investigation by Sebi into Gensol Engineering

Crisis deepens as more directors resign amid Gensol fund diversion case

Gensol crisis: The fallout stems from a Sebi order accusing Anmol Jaggi and his brother Puneet of misusing public funds