Polestar opened a factory Tuesday in the western city of Chengdu to produce the Polestar 1, a two-door, gasoline-electric hybrid coupe with a carbon-fiber body. BEIJING – Amid rising trade tension, Volvo’s electric brand, Polestar, is going ahead with plans to export its first Chinese-made model to the United States next year, the automaker’s CEO… Continue reading Volvo’s Polestar opens China factory to export to Europe, US
Author: Economic Times of India Online News
Maruti Suzuki cuts 3,000 contract jobs
Maruti Suzuki India Ltd Chairman R.C. Bhargava said that the company had not renewed the contracts of 3,000 temporary employees. NEW DELHI – Maruti Suzuki India Ltd Chairman R.C. Bhargava said on Tuesday the company had not renewed the contracts of 3,000 temporary employees, as the automaker battled rising inventory amid a slowdown in demand.… Continue reading Maruti Suzuki cuts 3,000 contract jobs
Porsche invests $2 mn in Israeli AI tech startup
The Israeli solution is based on nearly a decade of advanced nanophotonics research Jerusalem, German luxury auto manufacturer Porsche has invested $2 million in Israeli startup TriEye, which has developed visibility enhancement technology in harsh weather conditions, the two companies said. TriEye, founded in 2017 and headquartered in the coastal city of Tel Aviv, has… Continue reading Porsche invests $2 mn in Israeli AI tech startup
Zendrive raises $37 million Series B funding
Zendrive has also launched the FullStop, its first-ever AI-powered predictive risk solution for stop sign compliance. New Delhi: Road safety solution provider Zendrive has raised a Series B funding of $37 million, from key investors like XL Innovate, Hearst Ventures alongside existing investors – ACME Capital, BMW iVentures, NYCA, SignalFire, and others. Zendrive claims that… Continue reading Zendrive raises $37 million Series B funding
BYD’s profit triples as China’s electric car boom continues
China is considering offering favourable treatment to other vehicle technologies including petrol-electric hybrid vehicles SHANGHAI – Chinese electric car maker BYD Co Ltd posted a 203.6% rise in first-half profit on Wednesday, as China’s new energy vehicle market continues to surge. The Shenzhen-based company, which is backed by U.S. investor Warren Buffett and whose products… Continue reading BYD’s profit triples as China’s electric car boom continues
Zomato partners with tech startup FarEye
FarEye said with its machine learning platform, it will help Zomato gain end-to-end visibility of logistics activities and boost KPI management of third-party logistics providers. CHENNAI: Zomato has partnered with FarEye, a digital logistics company, to help restaurants stay compliant with Food Safety and Standards Authority of India’s (FSSAI) guidelines. FarEye, which facilitates over 10… Continue reading Zomato partners with tech startup FarEye
This is the best time to buy cars, you will not get such discounts again: Nikunj Sanghi, FADA
The guarantee scheme for NBFCs that the Government of India has floated will do a lot in terms of shoring up funds for NBFCs which plays a very big role in inventory funding, says Nikunj Sanghi, Director, Federation of Automobile Dealers Association (FADA). Excerpts from an interview with ETNOW.OEMs, dealers, everybody is trying his best… Continue reading This is the best time to buy cars, you will not get such discounts again: Nikunj Sanghi, FADA
Tata Motors to resume operations from today
Nearly 70% of the factories are shut and the workers have been rendered jobless. JAMSHEDPUR: With a slowdown in the automobile sector, operations in Tata Motors plant in the Steel City were shut for two days on Friday and Saturday. However, the plant was effectively shut for four days with August 15 and 18 being… Continue reading Tata Motors to resume operations from today
EV charging stations surpass fuel pumps in UK
UK government is planning to support EV adoption further. Recently it has announced a proposal for the installation of charge points for EVs in all new housing. New Delhi: UK has around 1,000 more public electric vehicle charging stations than the conventional fuel stations, claims Japanese carmaker Nissan in a release. The release claims that… Continue reading EV charging stations surpass fuel pumps in UK
SAIC-Volkswagen investing $2.4 bn to launch EV plant in Shanghai
The Chinese-German joint venture company is investing an amount of $2.4 billion to set up the plant and it will roll out the first car in November this year. New Delhi: SAIC-Volkswagen is building a pure electric vehicle production plant in Shanghai that will roll out 300,000 EVs every year, a media report claims. The… Continue reading SAIC-Volkswagen investing $2.4 bn to launch EV plant in Shanghai