Page 50 - Electric Vehicles

Xiaomi purchases $116 million site in Beijing to expand EV production

Xiaomi's successful foray into EVs stands in contrast to competitors who are struggling for market share in a crowded industry

EV startup Simple Energy raises $20 million in series A funding round

The funds will be used to scale up the production of Simple Energy's e-scooters, the Simple One and Simple Dot One

China defends its manufacturing capacity, asserts world needs more EVs

While China pays attention to concerns of major economies about overcapacity, it too is concerned by trade threats like tariffs, Liao said

Electric 2W, 3W companies likely to face retest for FAME-III scheme

Re-certification needed for all models; EMPS may be extended for two more months

Tata Power Solar Systems partners with BoI for EV charging stn financing

Tata Power Solar Systems Ltd (TPSSL) on Friday said it has partnered with Bank of India (BOI) to facilitate easy financing for rooftop solar installations and establishment of electric vehicle (EV) charging stations. The partnership is a significant milestone with Tata Power Solar becoming the first solar company to collaborate with BOI for both solar and EV Charging Station financing and strengthening its leadership as a green energy solutions provider, a statement said. This collaboration supports the government's initiatives to promote rooftop solar installations, targeting a wide spectrum of customers, including residential users under the PM Surya Ghar Yojana, housing societies, and Micro, Small, and Medium Enterprises (MSMEs). Under the PM Surya Ghar Yojana, residential customers seeking to install solar systems up to 3 KW can avail loans up to Rs 2 lakh with only a 5 per cent margin money requirement. These loans are offered at an attractive interest rate of 7.10 per cent pe

Govt demands more local content in electric vehicle manufacturing

In its recent discussions with stakeholders, the ministry suggested reducing the number of components under PMP in FAME-III from 18 to 12

Ola Electric suspends India car project to focus on scooters, bikes: Report

Ola had planned to launch e-sports car this year

India's critical minerals: EV boom ahead, but policy gaps persist

The Centre has also extended the concessional Customs duty of 5 per cent on Li-ion cells until March 2026

India should keep its focus on EVs with regard to incentives: BMW Group

The German automobile company sells 24 models in India - one plug-in hybrid car, six EVs, and 17 internal combustion engine (ICE) cars

S Korea's LGES in talks with Chinese firms to make low-cost EV batteries

LGES' potential partnerships come as the global EV industry is grappling with a sharp slowdown in demand, and underscore growing pressure non-Chinese battery firms

Trump move against EV support would hurt competitors more than Tesla: Musk

Former President Trump, the Republican candidate supported by Musk, has been critical of the Biden administration's EV policies and has said that he will "end the electric vehicle mandate" if he wins

Customs duty exemption on lithium, cobalt to aid EV sector growth: Auto Inc

The proposed exemption in customs duty on import of lithium, cobalt and other rare minerals in the Union Budget 2024-25 is likely to lower the battery production cost and help in making electric vehicles more affordable for the buyers, auto industry leaders said on Tuesday. Finance Minister Nirmala Sitharaman while presenting the Union Budget for 2024-25 proposed to fully exempt customs duties on 25 critical minerals and reduce Basic Customs Duty (BCD) on two of them. "This will provide a major fillip to the processing and refining of such minerals and help secure their availability for these strategic and important sectors," she noted. Minerals such as lithium, copper, cobalt and rare earth elements are critical for sectors like nuclear energy, renewable energy, space, defence, telecommunications, and high-tech electronics, Sitharaman stated. Auto industry body SIAM President Vinod Aggarwal said the exemption of customs duty on import of lithium, cobalt and other rare minerals and

As Volkswagen struggles in China. Can EVs help it grow in US market?

By 2030, Volkswagen plans more than 30 new electric or hybrid models in China and hopes to boost sales to about 4 million, from about 3 million today, lifting its market share to 15 per cent

Hero MotoCorp plans to roll out affordable two-wheeler EVs in FY25

Eyeing leadership in the electric two-wheeler segment, Hero MotoCorp is looking to roll out affordable models in the current fiscal, according to CEO Niranjan Gupta. The country's largest two-wheeler maker is also hopeful of the debut of its electric range in the international markets. Addressing shareholders in the company's Annual Report for 2023-24, Gupta said the two-wheeler major has a roadmap to scale its electric vehicle business rapidly. "We want to build leadership in EV, and in order to do that, we will be creating a very powerful EV product portfolio, augmenting the VIDA V1 Pro that we have today," he noted. The company will be launching products in the mid-and affordable segments this fiscal, Gupta said. Hero MotoCorp's VIDA electric scooter range is priced between Rs 1-1.5 lakh, including state subsidies. Hero MotoCorp Executive Chairman Pawan Munjal said together with Ather Energy, VIDA has established India's largest public-charging infrastructure for two-wheeler .

Trump pledges action to end electric vehicle 'mandate' on day one in office

Trump has made no secret his disdain for electric vehicles, claiming they don't work and will benefit China and Mexico

Volvo's Q2 EBIT beats estimates, but cuts full-year forecast citing tariffs

Volvo Cars produced 211,900 cars in the second quarter, more than they sold, as demand for electric cars in Europe has dropped.

Renault's first-half sales rises on strong demand for hybrids in Europe

The company sold 1,154,700 vehicles globally compared to 1,133,478 units last year, with almost three-quarters of that volume going to Europe

New car sales in EU increase by 4.3% in June, says industry body Acea

Top European carmakers are betting on car sales to pick up over the year, despite cooling electric vehicle (EV) demand after several years of strong growth

Chinese EV giant BYD sets sights on aggressive expansion in Vietnam

Vietnam's government said last year BYD had decided to build a factory to manufacture electric cars in the north of the country but those plans have slowed

DMRC to add over 1,100 e-autos to its fleet to boost last-mile connectivity

The Delhi Metro Rail Corporation will be adding more than 1,100 e-autos to its existing fleet of electric three-wheelers to further boost last-mile connectivity, an official said on Wednesday. Of the 2,299 e-auto permits -- 1,636 general and 663 women -- allotted to the DMRC by the Transport Department, 1,183 e-autos -- 857 general and 326 women -- have been registered. These e-autos are operating from around 40 DMRC stations that are equipped with charging points and dedicated parking spaces, officials said. "Another 1,116 -- 779 general and 337 women -- e-autos are expected to be registered by the end of August," the DMRC official said. The DMRC has allotted these e-auto permits to its authorised operators at metro stations located in Chhatarpur, Dwarka, Rohini and northwest Delhi. DMRC Managing Director Vikas Kumar told PTI that ensuring last-mile connectivity for commuters is a key issue for the Delhi Metro. The Delhi government recently launched a bus service to enhance last