Page 96 - Electric Vehicles

Kia to build new electric vehicle plant in Mexico, likely to invest $1 bn

Hyundai Motor and Kia aim to sell around 2 million and 1.6 million all-electric vehicles, respectively, by that year

Senior Tesla executives to visit India this week in pivot beyond China

The executives are scheduled to meet govt representatives including those from the office of Prime Minister Narendra Modi to discuss local sourcing of components for Tesla's models

India ripe target for EV companies but domestic take up slow: Report

India is a ripe target for electric vehicle firms as the third-largest auto market in the world but due to slow domestic takeup, no Indian company is likely to have a meaningful global share of electric vehicles in the foreseeable future, according to a report by S&P Global Ratings. Asia is set to keep its place as the world's biggest producer of, and market for electric vehicles (EVs), EV batteries, and EV battery materials and the continent will be at the centre of the EV era, it said. "As the world's third-largest auto market, India is a ripe target for EV firms. Sales of EVs more than doubled last year in the country. This was, however, off a low base. EV sales represented less than 2% of the total light-vehicle sales in the last 12 months," the report said. Moreover, it said 90 per cent of the EVs in India are in the two- and three-wheeler segment. "While there is strong growth potential, the development of adequate charging infrastructure will be key to EV adoption. Given ...

Electric E2W manufacturer Hero Electric to go public by FY26: CEO

To target 2 million vehicle sales before listing

Ola Electric expanding fast, to cross 1,000 experience centres this year

As part of that strategy, the SoftBank-backed electric vehicle company on Saturday opened its 500th experience centre (EC) in Srinagar, Jammu & Kashmir

Volvo Car AB says software issues will delay output of flagship EV

Output of the EX90 is now expected to begin in the first half of 2024, Volvo said Thursday

Delhi to get more EV charging stations, battery swapping facilities

The NDMC is planning to increase the number of EV charging stations in Lutyens' Delhi and even provide battery swapping facilities at some of these points, a senior official said on Wednesday. With Delhi being among the most polluted capitals in the world, the New Delhi Municipal Council (NDMC) has been making a push for electric vehicles to nudge residents to opt for cleaner vehicle options. There are around 100 electric vehicle (EV) charging stations across the national capital at present and this would be the first time that some of them would have battery swapping facilities, which is quite prominent in Western countries, he said. The official said the aim is to provide easy accessibility to charging stations and to save time by providing swapping facilities. This will give a major push to EVs in the city. Various PSUs, including the Rajasthan Electronics and Instruments Limited (REIL) and the Kerala State Electronics Development Corporation Limited (KELTRON), have approached t

Hyundai signs deal with Tamil Nadu for Rs 20,000 cr investment in EV space

Car manufacturer will set up battery pack assembly unit with an annual capacity of 178,000 units

Larsen & Toubro bets on $1.5 bn return from push to electric vehicles

L&T Technology Services Ltd., whose customers include BMW AG and Airbus SE, wants to accelerate growth after recording sales of $1 billion

Govt to start random checks on EVs after recent lapses under FAME II scheme

The checks will be conducted by the Automotive Research Association of India

Focusing on budget-oriented buyers, Ather to launch 450S to gain mkt share

The new electric scooter is likely to miss on features like the 7-inch TFT touchscreen and auto-hold. The feature of riding modes may also be omitted to bring costs down

Connected vehicles market grew 60% in quarter ended March: CMR

The market for EVs in India grew 48% during the period

Top headlines: Fitch affirms India's sovereign rating, FAME subsidy row

Business Standard brings you top news at this hour

FAME subsidy row: Centre to return Rs 800 cr to ex-factory price defaulters

The remaining Rs 287 crore will be released once the companies submit the details of the requirements, sources said

E2W makers gear up for scale, hope FAME will continue to fuel operations

The key to increasing volumes is to offer more products at varying price points and expand distribution and markets

Statsguru: Six charts explain road ahead for electric vehicles in India

The two-wheeler segment, which helped propel sales in 2022, was also the reason for the slowdown in April

EV sales across categories see yearly rise in April, shows FADA data

According to data, on a yearly basis, passenger vehicles saw 159 per cent increased compare to April 2022, up from 2,252 units to 5,824 units

Olectra Greentech net profit rises 52% to Rs 27 cr in March quarter

Electric bus manufacturer Olectra Greentech posted a 52 per cent rise in its consolidated net profit to Rs 27.01 crore in the March quarter, mainly on the back of higher revenues. "The consolidated net profit for Q4 FY23 (January to March 2023) was Rs 27.01 crore, as compared to a net profit of Rs 17.77 crore in Q4 FY22 (January to March 2022)," a company statement said on Friday. Its consolidated revenue for the quarter stood at Rs 375.91 crore, up 39 per cent year-on-year, from Rs 271.3 crore in same period a year ago. The consolidated net profit for FY23 was up 86 per cent Rs 65.59 crore as against Rs 35.35 crore in FY22. For FY23, the consolidated revenue increased 84 per cent to stand at Rs 1,090.76 crore as compared with Rs 593.26 crore in the year-ago period. "We are pleased to report strong growth in both our standalone and consolidated revenue and profitability for the year ended March 31, 2023," Olectra Greentech Chairman and Managing Director K V Pradeep said in the ...

REC Chairman flags off first fleet of electric staff vehicles in Gurugram

REC Chairman and Managing Director Vivek Kumar Dewangan on Thursday flagged off the first fleet of electric staff vehicles in Gurugram. In a path towards a green future, REC Ltd has set a target of replacement of all conventional staff vehicles with electric vehicles by 2024-25, a company statement said. "In a transition to EV mobility, Vivek Kumar Dewangan, Chairman & Managing Director (CMD), REC Limited flagged off the first fleet of Electric Vehicles (EV) on Thursday at REC World Headquarters, Gurgaon," it stated. Dewangan also inaugurated a fast charging station, which is powered by a rooftop 1 MW (approx) solar plant and therefore, the EV fleet will run on green power, contributing to zero pollution. The inauguration of the REC Control Room was also done by Dewangan, which is a single-point service provider for all the requirements of REC employees. It will act as a coordination point among different departments for the employees of the corporation, minimising employees' ...

EV ride-hailing firm BluSmart gets $42 mn in fresh funding to expand fleet

Start-up says will use fresh capital to 'go deeper' in Delhi NCR and Bengaluru