Page 64 - Electric Vehicles

Tata Motors reports 8% wholesales increase in February at 86,406 units

Tata Motors on Friday reported an 8 per cent rise in its total wholesales to 86,406 units in February as compared with 79,705 units in the same month last year. The total domestic sales stood at 84,834 units last month against 78,006 units last month, a growth of 9 per cent, Tata Motors said in a regulatory filing. Sales of passenger vehicles, including electric vehicles, in the domestic market, were at 51,321 units as compared to 43,140 units in the year-ago month, up 19 per cent, it added. Total commercial vehicle sales declined by 4 per cent last month to 35,085 units from 36,565 units in February 2023, it added.

Elon Musk hypes up Tesla Roadster again after half decade of delay

The billionaire said in a series of posts on X that the car will be a collaboration between Tesla Inc. and Space Exploration Technologies Corp

Gensol says it has approval for its flagship two-seater electric car

Vehicle approved by Automotive Research Association of India will have driver assistance feature

Exicom Tele-Systems IPO gets subscribed 27.76 times on 2nd day of offer

The Initial Public Offering (IPO) of EV charger maker Exicom Tele-Systems Ltd received 27.76 times subscription on the second day of bidding on Wednesday. The Rs 429 crore-IPO got bids for 50,59,42,200 shares against 1,82,23,540 shares on offer, as per data available with the NSE. The quota for Retail Individual Investors (RIIs) got subscribed 64.73 times while the portion for non-institutional investors attracted 54.36 times subscription. The category for Qualified Institutional Buyers (QIBs) received 4.48 times subscription. The IPO got fully subscribed within hours of opening for bidding on Tuesday. It has a fresh issue of equity shares aggregating up to Rs 329 crore and an Offer For Sale (OFS) component of up to 70.42 lakh equity shares worth Rs 100 crore, at the upper end of the price band, by promoter NextWave Communications. At present, NextWave Communications holds a 76.55 per cent stake in the company, and HFCL, part of the promoter group, owns a 7.74 per cent ...

Tata Group firm Agratas to build UK's biggest EV battery plant in Somerset

Agratas, Tata Group's global battery business, on Wednesday confirmed that it will build Britain's biggest electric vehicle battery manufacturing facility in Somerset, south-west England. The so-called gigafactory, announced last year, will be built on the Gravity Smart Campus near Bridgwater in Somerset with a community-first approach, involving locals to learn more about and be a part of the project. The company said the 40 GWh factory is set to contribute almost half of the projected battery manufacturing capacity required for the UK automotive sector by the early 2030s. "Our multi-billion-pound investment will bring state-of-the-art technology to Somerset, helping to supercharge Britain's transition to electric mobility whilst creating thousands of jobs in the process, said Tom Flack, CEO of Agratas. "We care deeply about the communities we operate in, so it's imperative to us that we work with, and listen to, our new neighbours as we build our factory in Somerset. That's why .

Electric vehicles set to corner a third of Volvo Car India's 2024 sales

Volvo has also officially confirmed its plans to introduce two additional electric vehicles in the Indian market by 2025

Hybrids, gas powered vehicles fuel legacy automakers' shares past EV rivals

Electric vehicle demand has slowed of late, suggesting the transition away from traditional internal combustion engine vehicles will take longer than expected

MG Motor India, JSW Group joint venture may go live in a few weeks

MG expects EV penetration in India to hit 4% in CY24

Centre propose amendment in CMVR rules related to LPG retrofitting

Industry players said that the proposed move is a step in the right direction, providing relief to the industry while also ensuring stricter environmental enforcement

TVS Motor buys Killwatt shares worth Rs 35 cr to hike stake to 49%

TVS Motor Company on Monday said its Singapore-based arm has increased stake in the Germany-based electric mobility products and components start-up Killwatt GmbH to 49 per cent with the acquisition of an additional 8,000 equity shares for 4 million euros (over Rs 35 crore). TVS Motor (Singapore) Pte Ltd has agreed to acquire a further 8,000 equity shares in Killwatt GmbH following which its shareholding will increase from 39.28 per cent to 49 per cent by way of newly issued shares of the latter, TVS Motor Co said in a regulatory filing. The total consideration for the acquisition of 8,000 equity shares in Killwatt GmbH is 4 million euros, whereby 2 million euros will be paid on or before March 4, and the remaining 2 million euros will be paid at a later date, subject to the completion of a specific pre-agreed milestone by Killwatt GmbH, it added. Killwatt is a privately held firm engaged in businesses comprising development, design, manufacture, sale and distribution of products an

Tata Group eyeing $1-2 bn IPO of electric vehicle arm in 12-18 mths: Report

As per the report, the Tata group is aiming for a $1-2 billion initial public offering (IPO) of the EV unit and the listing could happen in the next 12-18 months

VinFast kicks off Tamil Nadu unit construction, seeks cut in import duty

The project aims to evolve into a first-class electric vehicle production hub in the region, with an annual capacity of up to 150,000 units

Bajaj Auto enhances stake in Yulu Bikes with Rs 45.75 cr investment

Bajaj Auto on Thursday said it has invested an additional Rs 45.75 crore in electric bike-sharing platform Yulu Bikes. Post the fresh investment, the company's shareholding in Yulu Bikes stands at 18.8 per cent of the paid up equity share capital of the electric bike-sharing platform, Bajaj Auto said in a regulatory filing. In 2019, Bajaj Auto announced an investment of USD 8 million (around Rs 66 crore) in Yulu to boost electric vehicle adoption in India.

VinFast Auto to break ground for Tamil Nadu EV facility on February 25

The establishment of VinFast's integrated electric vehicle facility in Tamil Nadu is anticipated to generate approximately 3,000 to 3,500 employment opportunities locally

Govt hits 79% of revised EV targets under FAME II as of February 18

Based on segments, the target achieved in electric two-wheelers is 78 per cent, for electric three-wheelers 88 per cent, and for electric four-wheelers much lower at 56 per cent

Wireless charging for electric vehicles getting closer to reality: Report

This is the promise of wireless EV charging, an inductive transfer of electrons that would eliminate the need for all those pesky cords

BluSmart, Tata Power subsidiary sign agreement to source green power

This partnership with TPTCL will help BluSmart to eliminate Scope 2 emissions from its existing 1.4 million square feet of EV charging infrastructure and future charging hubs

JSW Group, Volkswagen begin talks to set up electric vehicle joint venture

Talks with JSW came within days of the German carmaker announcing it would supply components for EVs and battery cells to Mahindra & Mahindra

Sona BLW shifts gear with order boost from electric vehicle space

Firm's efforts to broaden portfolio, scale-up, and diversify customer base will lead to strong earnings growth: Analysts

Electric vehicle startup Vidyut raises $10 mn from 3one4 Capital, others

Electric vehicle startup Vidyut on Tuesday said it has secured USD 10 million capital funding comprising equity and debt in Series A fundraising for expanding its bouquet of services. The Series A funding round was led by 3one4 Capital along with participation from new and existing investors such as Saison Capital, Zephyr Peacock, Force Ventures, Alteria Capital and CEO of Udaan Capital Sujeet Kumar, the company said in a statement. Vidyut said it will now offer EV insurance, lifecycle management, and EV resale, and it is also looking to expand its presence to 40 cities. The company said it aims to double the headcount by the end of next fiscal as it prepares to build a full-stack EV ecosystem and that it will utilise the fresh capital to scale its offerings to the EV ecosystem. "Our focus is not just on financing but on elevating the entire EV ownership journey for India's SMBs, who are the backbone of our economy," said Gaurav Srivastava, Co-founder of Vidyut. Founded in 2021, .