Page 50 - Electric Vehicles

As EV revolution slows down, automobile major Ferrari enters the race

A lot is riding on Ferrari's 200-million-euro "e-building," which went into operation last month and is nearly twice the size of Rome's Colosseum

NexGen Energia to invest Rs 15K cr to open 5,000 green diesel, CBG pumps

Green energy solutions company NexGen Energia plans a Rs 15,000 crore investment to open 5,000 green diesel and compressed biogas (CBG) pumps in the country over the next 10 years. The Noida-based company recently inaugurated its first CBG pump in Mau district in Uttar Pradesh, marking its entry to execute engineering, procurement, and construction (EPC) services in the clean energy sector. "The company's commitment to clean energy goes far beyond this single pump. Plans are afoot to open a total of 5,000 green diesel and CBG pumps across the country in multiple phases over the next 10 years, with each pump costing around Rs 3 crore. In this manner, we are set to invest Rs 15,000 crore in the green energy sector," NexGen Energia Chairman Piyush Dwivedi told PTI. "Furthermore, this initiative will create approximately 5,000 new entrepreneurs and provide direct and indirect employment to over 10 lakh people. Our goal is to make India self-reliant in the green energy sector, thereby ..

Canada's policies to protect mining sector to shield takeover targets

The move appears to insulate domestic companies from takeovers when the world's biggest mining firms are hunting for metals that underpin the global transition away from fossil fuels

'Tesla's loss, not India's': Ola CEO Bhavish Aggarwal on Tesla's pullback

Elon Musk's Tesla has not responded to inquiries from officials in New Delhi and is no longer expected to invest in India

Is govt's new EV policy seeing a muted response from car companies?

The Ministry of Heavy Industries, responsible for automotive industry matters, has conducted one round of consultations with carmakers but has not yet secured significant commitments

China's EV battery giants CATL, BYD eye stationary energy storage market

Tesla's Shanghai plant will be able to make 10,000 Megapacks a year with a combined 40 GWh of storage capacity

China struggles to make use of boom in energy storage, calls for even more

Some industry insiders and experts say pricing reforms and technology improvements are needed for a storage sector

China unveils next steps in EU brandy probe as EV tariffs take effect

There is a four-month window during which the EV tariffs are provisional and intensive talks are expected to continue between the two sides as Beijing threatens wide-ranging retaliation

China urges EU to show sincerity in talks as EV tariffs take effect

The government has repeatedly called on the European Union to cancel its tariffs, expressing a willingness to negotiate

EU announces investigation into Chinese subsidies for electric vehicles

The European Union (EU) is launching an investigation into subsidies that China provides to electric vehicle makers, the head of the bloc's executive branch said Wednesday, as concern grows that the aid is harming European companies. Global markets are now flooded with cheaper Chinese electric cars, and their price is kept artificially low by huge state subsidies. This is distorting our market, European Commission President Ursula von der Leyen told EU lawmakers in Strasbourg, France. As we do not accept this distortion from the inside in our market, we do not accept this from the outside, von der Leyen said. So, I can announce today that the commission is launching an anti-subsidy investigation into electric vehicles coming from China. China's leaders have helped make the country the biggest market for electric vehicles by investing billions of dollars in subsidies to get an early lead in what is seen as a promising industry. Global automakers face growing competition in their hom

China's BYD opens EV unit in Thailand; first factory in Southeast Asia

Hong Kong-listed shares of the automaker rose 3.2 per cent to HK$237.60, their biggest intraday jump since June 13

Tesla's best-selling Model Y for 1st time on Chinese govt purchase list

China's eastern Jiangsu provincial government published 56 batches of new energy vehicle procurements for use as service cars by party

Nissan, Honda mull partnering on software, charging infrastructure

Both Japanese automakers have been hit hard in key market China by consumers' shift to low-priced, software-loaded EVs produced by Chinese brands such as BYD

Some ups and downs but EV push is right strategy in long term: Volvo Cars

In India, 27,300 electric cars were sold in the first quarter of 2024-25, showing no year-on-year growth

Canada govt to consider blocking factories in pushback on Chinese EVs

Trudeau's government appears to only be considering tariffs on finished vehicles

Want continuity of policy backing EVs for 8-10 yrs: Mercedes-Benz India MD

Mercedes-Benz India wants the government to commit to continuity in policies that support electric mobility for the next eight to ten years, for stable and better planning towards zero emission mobility, its Managing Director and CEO Santosh Iyer said on Tuesday. Besides, the company feels that providing the incentives given to electric vehicles to hybrid vehicles will extend the timeline for transition to emission free mobility. The company, which had increased EV penetration to 6 per cent in the first quarter of 2024, from 2.5 per cent earlier, expects the momentum to carry going forward with three new EV models slated for launch this year, starting with the EQA next week. "A much more clear roadmap when it comes to taxation on EVs," Iyer told PTI here when asked about the company's expectations from the upcoming Union Budget. "We understand that the Budget may not address the GST topic, but at least if you are able to get a commitment that for the next eight to ten years, this k

Mid-sized cities to be big demand centre for electric vehicles: Report

The gap in demand for electric vehicles between large and mid-sized cities in the country is shrinking and the Tier-II 2 cities are likely to emerge as the next big demand centre for EVs, a report said on Tuesday. An analysis of the electric two-wheeler and car sales by strategic research provider BloombergNEF (BNEF) from 207 cities across 10 states also suggests that the electric two-wheeler sales in some tier 2 markets have surpassed metropolitans while within tier 2 cities, state capitals generally leading the growth in electric car sales. India's electric vehicle sales are growing rapidly but vary considerably across the country's 36 states and union territories. While wealthier, populous and more developed tier 1 cities are the current hubs of India's EV demand, adoption in tier 2 cities is growing, BloombergNEF said in its report. The states covered under the report include Delhi, Gujarat, Haryana, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Rajasthan, Tamil Nadu and Uttar

China's BYD posts 21% rise in quarterly EV sales, closes gap with Tesla

Sales of new energy vehicles including EVs and plug-in hybrids in China made up 46.7 per cent of total car sales in May

In a first, Tesla deliveries expected to dip 6% for second straight quarter

Tesla has hit a speed bump after years of rapid growth that helped make it the world's most valuable automaker

EV sales drop 14% to 106,081 units in June, signalling challenges ahead

Sector experts suggest that the sharp decline could be due to a combination of factors such as changes in government policies and customers shifting interest towards hybrids