The company’s balance of interest-bearing indebtedness was 716.5 billion yuan ($110.6 billion) at the end of 2020 HONG KONG: Property giant China Evergrande’s Hong-Kong listed electric vehicles firm said on Sunday it would bring in six new investors to raise HK$26 billion ($3.4 billion) to fund technology research and repay debt. China Evergrande New Energy… Continue reading China Evergrande New Energy Vehicle Co attracts investors to raise $3.4 billion
Author: Economic Times of India Online News
Elon Musk targets telecom for next disruption with Starlink internet
Elon Musk became the world’s richest person this month by upending the global auto industry and disrupting aerospace heavyweights with reusable rockets. Now he’s setting his sights on another business dominated by entrenched incumbents: telecommunications. Musk’s Space Exploration Technologies Corp. has launched more than 1,000 satellites for its Starlink internet service and is signing up… Continue reading Elon Musk targets telecom for next disruption with Starlink internet
Tesla claims engineer stole secrets just days into the job
By Joel Rosenblatt A former Tesla Inc. software engineer was ordered to appear before a judge to face allegations that three days into his job, he started stealing confidential files and transferring them to a personal storage account. During his two-week employment ending Jan. 6, Alex Khatilov stole more than 6,000 scripts, or files of… Continue reading Tesla claims engineer stole secrets just days into the job
EV charging network EVgo to go public via $2.6 bln SPAC deal
The deal is the latest SPAC merger in the U.S. electric-vehicle business, which has seen many high-profile firms such as Nikola Corp and Fisker Inc go public through this route. EVgo Services LLC said on Friday it has agreed to go public through a merger with blank-check firm Climate Change Crisis Real Impact I Acquisition… Continue reading EV charging network EVgo to go public via $2.6 bln SPAC deal
Tata Technologies says focusing on electric mobility under turnaround plan
Pune: Engineering and product development digital services firm Tata Technologies on Monday said they were focusing on electric vehicles and a previously in-house learning platform to train students as a part of its post-pandemic turnaround plan in India. “There is a real shift in terms of firms investing in digital solutions. They are building supply… Continue reading Tata Technologies says focusing on electric mobility under turnaround plan
Ola partners Siemens for EV manufacturing facility
As part of the partnership, Ola will have access to Siemens’ integrated ‘Digital Twin’ design and manufacturing solutions to digitalise and validate product and production ahead of actual operations, it added. New Delhi: Ride-hailing major Ola on Wednesday said it has partnered with Siemens to leverage the latter’s technology at its upcoming electric vehicle manufacturing… Continue reading Ola partners Siemens for EV manufacturing facility
EV drive could outweigh corona gloom in German car market: Hyundai
In 2021, Hyundai will upgrade its EV portfolio, launch new EV models, having started supporting customers with wallbox offerings for home charging and cooperating with utility EnBW FRANKFURT: A boom in electric vehicles (EV) in Germany could counterbalance some car industry gloom this year caused by COVID-19 lockdowns that closed showrooms and delayed vaccinations, Hyundai… Continue reading EV drive could outweigh corona gloom in German car market: Hyundai
Investors pump $125 million into EV charging startup Volta
Volta is riding a wave of investor enthusiasm for electric vehicles and related businesses. By Paul Lienert Volta, a San Francisco-based electric vehicle charging startup, said on Tuesday it had raised $125 million from investors. The Series D round brings Volta’s total funding to more than $200 million, the company said. Volta is riding a… Continue reading Investors pump $125 million into EV charging startup Volta
Euler Motors eyes 10-fold increase in revenue as it gears up to expand operations
Euler Motors currently has units in Okhla and Faridabad where battery manufacturing and vehicle assembly takes place. New Delhi: Automotive technology start-up Euler Motors is eyeing a 10-fold increase in its revenue to USD 20 million (around Rs 146 crore) by the end of next fiscal as it looks to start sales of its electric… Continue reading Euler Motors eyes 10-fold increase in revenue as it gears up to expand operations
German court halts criminal proceedings against former VW CEO
BERLIN: A German court in Braunschweig, Germany, said on Friday it had halted criminal proceedings against former Volkswagen CEO Martin Winterkorn for alleged market manipulation as part of the carmaker’s emissions scandal. The court said it had decided to discontinue the proceedings as the expected sentence in another case, in which Winterkorn faces charges for… Continue reading German court halts criminal proceedings against former VW CEO