Page 55 - Electric Vehicles

Top EV ride-hailer BluSmart seeks $300 million in 3 yrs to expand car fleet

Part of the funding it raises will go toward the company's expansion beyond Delhi and the southern Indian city of Bengaluru. BluSmart will launch in Dubai next month with about 100 Audi EVs

BluSmart launches BluSmart Charge app, opens EV charging service to public

Alongside the charge app launch, BluSmart also expanded its charging infrastructure network and achieved a significant milestone by opening its 50th EV charging hub

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

President Xi's China EV dream comes true, 10 years on, walls going up

China has become the world's largest auto market and sells more electrified vehicles than any other country, with 9.5 million cars delivered last year

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

Tesla excludes delivery goal of 20 mn vehicles a year in impact report

Slowing growth in EV demand and tough competition have hit demand for Tesla's vehicles

'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

Xiaomi ups EV goal to 120,000 as Q1 tops forecasts on strong phone sales

The company's SU7 currently has four models, with prices ranging from 215,900 to 299,900 yuan. As of May 15, Xiaomi has delivered 10,000 EVs

Tesla breaks ground on Megapack energy storage battery factory in Shanghai

Electric vehicle maker Tesla has begun construction of a factory in Shanghai to make its Megapack energy storage batteries, Chinese state media reported Thursday. The USD 200 million plant in Shanghai's Lingang pilot free trade zone will be the first Tesla battery plant outside the United States. Tesla opened an EV plant in Shanghai in 2019 that assembles cars for China, Europe and other overseas markets. It is the No. 2 seller in the booming Chinese market for electric vehicles. The market leader is Chinese auto company BYD. The state-run Xinhua News Agency lauded Tesla's commitment to investing in China and defying the rhetoric of decoupling' and de-risking' from China. It said the factory was slated to start mass production in early 2025, with an initial capacity of 10,000 Megapack units a year. According to Tesla's website, each Megapack can store more than 3.9 megawatt hours of energy enough to power an average of 3,600 homes for one hour. They are designed mainly for utilit

MG Motor India signs pact with Vertelo to deliver 3K EVs in phased manner

MG Motor India on Thursday said it has signed an initial pact to deliver 3,000 EVs to integrated fleet electrification platform Vertelo in a phased manner. Both the entities have signed a memorandum of understanding to this effect. The partnership will focus on providing sustainable mobility solutions to riders and will also work towards establishing a robust EV charging infrastructure in the country, MG Motor India said in a statement. "This partnership between MG India and Vertelo demonstrates a shared vision for a green and sustainable future with decarbonisation in India. We also believe that this collaboration will augment our endeavours to offer advanced e-mobility solutions for passengers and boost faster adoption of EVs in the country," MG Motor India Chief Growth Officer, Gaurav Gupta said. Vertelo is a fleet electrification platform that aims at providing end-to-end solutions to operators and corporates. It has been established by Macquarie Asset Management and has receiv

Hero Electric, Benling India barred from all EV incentive schemes

MHI to write to FinMin on a wider ban in all government schemes

Affordable mass electric vehicles key to unlocking demand in Indian market

A compact, budget-friendly electric car from a major Indian manufacturer, could be the tipping point for widespread EV adoption

SWCNTs producer NoPo Nanotechnologies raises $3 mn in pre-series A funding

NoPo specializes in the production of single-walled carbon nanotubes (SWCNTs), a material that holds promise across various applications, ranging from usage by EV battery manufacturers

US electricity demand from EVs rises to new highs in early 2024: Maguire

EVs accounted for 16 per cent of all light-duty vehicle sales in the U.S. in 2023

China may raise temporary tariffs on some US, EU cars, warns lobby group

Chinese EVs are under the spotlight in the EU and US, as China controls a majority of the battery supply chain and produces more EVs than anywhere else in the world

Tata Power-DDL, India Smart Grid Forum tie up for vehicle-to-grid project

Tata Power Delhi Distribution on Tuesday said it has inked an initial pact with India Smart Grid Forum for the 'Vehicle-to-Grid Technology Demonstration Project'. The initiative aims to explore the potential of EVs to provide essential grid services like frequency and voltage support, test their viability as backup power sources during outages, and examine the impact of bi-directional charging, a company statement said. The pilot project aims to showcase the basics of how electric vehicles (EVs) can interact with the grid. This project looks at reducing carbon emissions within the transportation and energy sectors, Tata Power Delhi Distribution Ltd (Tata Power-DDL) which supplies electricity to a populace of 7 million in North Delhi, said.. Additionally, the project will investigate how EVs can participate in the power market by storing electricity when prices are low and selling it back during peak hours. It will also test the feasibility of charging EVs with green electricity. "T

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

Large order book, EV demand drive auto parts maker Sona BLW growth

Company gains market share in its top three markets of North America, India, EU

Hero MotoCorp to expand electric model range to increase customer base

Hero MotoCorp is looking to expand its presence in the electric two-wheeler segment as it aims to introduce new models below its current range to cater to a broader set of customers, as per a senior company official. The country's largest two-wheeler maker currently sells two electric scooters under its Vida range, priced between Rs 1 lakh and Rs 1.5 lakh. "We are expanding our portfolio in the first half of this year (current fiscal)..into the mid and the mass segment as well," Hero MotoCorp Chief Business Officer - Emerging Mobility BU Swadesh Srivastava said in an analyst call. With new product introductions this fiscal, the company is going to be able to play in each of the three segments of premium, mid and mass, he noted. "With this, we are looking at significant growth within this year. And we are also looking to improve our cost structures," he said. The company is going to witness huge growth in the EV segment this year as well as next year, he stated. "We are looking at

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