Page 68 - Electric Vehicles

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, .

EV startup Vidyut raises $10 million, aims to expand to 40 cities

Vidyut to deploy new funds to scale its new offerings include EV insurance, lifecycle management, and EV resale

Zoomcar, SPARKCARS to develop EV self-drive, aim to add 1,000 cars in 2 yrs

Car sharing marketplace Zoomcar on Tuesday said it has partnered with electric vehicles self-drive rental firm SPARKCARS with a plan to introduce over 1,000 EVs on its platform across India within the next two years. The partnership will help increase the supply of EV cars available for self-drive to meet the growing needs of convenient and independent travel, the company said in a statement. "Zoomcar and SPARKCARS will introduce over 1,000 electric vehicles to Zoomcar's platform across India within the next two years. These additions will include popular models such as the TATA Nexon, Mahindra XUV 400, Citroen eC3, and many others, offering users a diverse array of eco-friendly options for their mobility needs," it said. Zoomcar CEO and Co-Founder Greg Moran said the partnership follows the direction of the government's growing focus on boosting the EV ecosystem. "We are not just adding EVs to our platform; we are empowering our guests with a variety of sustainable choices and ...

JSW Group, Volkswagen in talks for electric vehicle joint venture in India

This proposed project with Volkswagen would be distinct from the joint venture already underway with SAIC Motor Corp, wherein JSW Group holds a 35% stake

40% consumers want EV range to be above 400 kms per charge: Deloitte survey

The preference for an internal combustion engine-run vehicle fell to 49 per cent in 2024 from 53 per cent in 2023. In India, the survey polled 1,000 consumers

US to soften tailpipe rules, slow electric vehicle transition through 2030

The Environmental Protection Agency in April 2023 proposed requiring a 56% reduction in new vehicle emissions by 2032

Is 2024 the year when electric cars finally come to the automotive party?

Most of the big carmakers are eligible for PLI. It will help them reduce their costs. Carmakers also see India as a potential hub for electric car exports

Rs 10 trn projects in UP: Urgent need to make farmers market-ready, says PM

His remarks are particularly significant given the ongoing protests by Punjab farmers, who are demanding a law guaranteeing the minimum support price (MSP) mechanism

Pure EV raises $8 mn from consortium of investors in latest funding round

Electric two-wheeler firm Pure EV on Monday said it has raised USD 8 million (around Rs 66 crore) from a consortium of investors. The funding was led by Bennett Coleman and Company Ltd, Hindustan Times Media Ventures, alongside Ushodaya Enterprises Pvt Ltd, existing investors and high net-worth individuals, Pure EV said in a statement. The Hyderabad-based company said it is currently in the final stage of concluding its Series A1 funding round, amounting to USD 25 million with the participation of a foreign institutional investor. Concurrently, ongoing discussions are taking place with potential investors from Dubai, Hong Kong, and Singapore for Series A2 funding, targeting an infusion of USD 15 million, it added. "We will be rapidly expanding our pan-India sales network from 140 to 300 dealers in the next six months," Pure EV Co-Founder & CEO Rohit Vadera stated. The company sells a range of electric motorcycles and scooters and has already sold over 70,000 units.

It is not about EV vs hybrid but reducing emission: Maruti's RC Bhargava

Maruti Suzuki chairman said electrification may not lead to reduced carbon emission

Mahindra partners with Volkswagen to get electric components, battery cells

BERLIN (Reuters) -Volkswagen and Mahindra & Mahindra Ltd have signed a supply agreement on the use of key electric components of the German carmaker's open platform for electric vehicles (EVs), the companies said in a statement on Friday.