Page 41 - Electric Vehicles

Exicom acquires US EV charging company Tritium for nearly Rs 310 crore

Home grown EV charging solutions firm Exicom has acquired US-based DC fast charging technology company Tritium for USD 37 million, or about Rs 310 crore, a senior company official said. Exicom managing director Anant Nahata told PTI that the company is setting up a manufacturing unit in Hyderabad where it will use DC (Direct Current) fast charging technology of Tritium to develop solutions for electric vehicles. The Hyderabad facility is expected to be operational by the end of 2025. "This strategic investment highlights Exicom's robust positioning in international markets and our commitment to expanding operational capabilities across diverse geographies. The comprehensive deal encompassing four key regions'?the UK, the Netherlands, the United States, and Australia'?amounts to USD 37 million," Nahata said. Exicom has absorbed the entire workforce of 300 people at Tritium in the company. "With the integration of Tritium's 300 talented individuals, Exicom will leverage synergies an

IPO-bound food delivery app Swiggy launches XL EV fleet for bulk orders

Swiggy's new XL fleet includes 20 specially designed electric vehicles that cater to large orders

China's loss may be Indian companies' gain in electric vehicle race

Li-ion cells may become cheaper after punitive tariffs imposed by the US

BMW India targets to double electric vehicle penetration by next year

BMW Group India has achieved its best-ever year-to-date car sales, with a 10 per cent growth in the first nine months of calendar year 2024

Nissan studies hybrid and CNG market in India, no immediate launch plans

Nissan previously announced that it is going to launch an "affordable" EV by 2026

EU governments face pivotal vote today for imposing Chinese EV tariffs

In the absence of a qualified majority either way, the EU executive can adopt the tariffs, however, it could also submit an amended proposal if it wanted to secure greater backing

EU headed for 'economic cold war' with China: Hungary's PM on EV tariff

Earlier on Friday data showed Hungary's industrial output falling by a worse-than-expected 9.5 per cent in August, which Budapest said was due to the weakness of the German economy

Auto industry has to be 'well balanced' on EV investments: Kia India CEO

Indicating that Kia's current focus remains on the electric car market, he mentioned that the company's first mass-market electric car-scheduled to be launched next year-will be a mid-sized SUV

EU members to vote on proposal to impose tariffs on China made EVs

The Commission last revised the tariff rates in September, imposing levels from 7.8 per cent for Tesla to 35.3 per cent for SAIC

Tesla to recall over 27,000 cybertrucks in US over rear-view image delay

The recall covers more than 27,000 Cybertrucks, Tesla said in a report filed with the US National Highway Traffic Safety Administration

Ashok Leyland ties up with Nidec to develop e-drive motors for vehicles

Commercial vehicle maker Ashok Leyland on Thursday said it has entered into a partnership with Japanese firm Nidec for developing e-drive motors for commercial vehicles. Under the multi-pronged collaboration, the two partners will work to establish a Centre of Excellence (CoE) for Electric Drive Units (EDUs), which will focus on developing motor technologies and power electronics systems for EVs, along with innovations in gear-shifting mechanisms, Ashok Leyland said in a statement. "This collaboration allows us to co-develop, innovative e-drive motors specifically designed for the unique demands of India's commercial vehicle market, while significantly advancing our electric mobility capabilities," said Shenu Agarwal, Managing Director and CEO at Ashok Leyland. The collaboration will also involve joint research and development efforts, with both companies contributing to skilling, lab infrastructure, and defining novel, differentiated motor technologies for the EV portfolio of Ashok

Novotel Guwahati inducts EVs in its fleet to reduce carbon footprint

Luxury hotel chain Novotel on Thursday said it has introduced a range of electric vehicles in its fleet to reduce carbon footprint, the first such move by any hospitality group in Northeast. Announcing the development, the company in a statement said that it will double the fleet of electric vehicles at its Guwahati property in the coming months. "Marking first of its own kind initiative by any 5-star property in Northeast India, Novotel Guwahati recently introduced two electric cars, marking a significant step in their commitment to reducing carbon footprint and promoting eco-friendly transportation," it added. The move was a part of the company's ongoing sustainability initiative aimed at supporting both the environment and the local community, the release said. In the spirit of continuous improvement, Novotel plans to expand its EV fleet with two more electric vehicles in the near future, it added. Commenting on the development, Novotel Guwahati general manager Manmeet Singh sa

Toyota Motors to postpone US EV production to 2026 amid slowing sales

Production is now likely to begin in early 2026 rather than late next year, Toyota spokesperson Scott Vazin said

Valuation upgrades likely ahead for transmission major Power Grid

Approval has been granted for 50GW of Inter-State Transmission System (ISTS) capacity

Arkam Ventures targets middle India: GenAI, space tech, EVs among key areas

Arkam believe that the biggest venture outcomes over the next 15 years are going to come from founders who are reimagining and rewriting many traditional industries

Toyota Motor plans to invest $500 mn in electric air taxi company

The Japanese automaker's new funding is on top of $394 million in prior investments it made in Joby and is part of a strategic alliance on commercial manufacturing

Electric vehicle sales grow 19% in H1, but slow to a crawl monthwise

EV sales also saw a 24.65 per cent annual growth in September, rising to 1,48,539 units compared to 1,19,163 units in the same month last year

Govt launches PM E-DRIVE subsidy scheme for EVs with Rs 10,900 cr outlay

The government on Tuesday launched the PM E-DRIVE Scheme, with an outlay of Rs 10,900 crore for faster adoption of electric vehicles, setting up of charging infrastructure and development of EV manufacturing ecosystem in India. The scheme shall be implemented from October 1, 2024 to March 31, 2026. The EMPS-2024 (Electric Mobility Promotion Scheme) being implemented for the period April 1, 2024 to September 30, 2024 is being subsumed under the PM E-DRIVE scheme. The subsidy under the PM E-DRIVE scheme for electric two-wheelers has been fixed based on battery power at Rs 5,000 per kilowatt hour but the overall incentive will not exceed Rs 10,000 in the first year. In the second year, it will be halved by Rs 2,500 per kilowatt hour, and the overall benefit will not exceed Rs 5,000. Currently, popular electric scooter makers like Ola, TVS, Ather Energy, Hero Vida (Hero Motocorp) and Chetak Bajaj have battery capacities of 2.88-4 kWh in price range of Rs 90,000 to Rs 1.5 lakh. Address

H D Kumaraswamy urges compliance with PM E-DRIVE and PLI guidelines

The minister's remarks come in the wake of violations under the FAME scheme, where 13 companies were found to have wrongfully claimed subsidies

Will EU's Oct 4 vote on Chinese EV tariffs spark a trade war with China?

In July this year, the European Union (EU) imposed additional tariffs of up to 37.6 per cent on electric vehicles (EVs) imported from China over suspicions of 'unfair' competition