The Copenhagen-based company has now raised a total of 130 million euros since its founding in 2020. Denmark’s Monta, which develops software solutions for the electric vehicle charging industry, has expanded into the U.S. market and aims to have one million charging points connected to its platform within five years, the company said on Tuesday.… Continue reading Danish EV charger software firm Monta expands into US market
Author: Economic Times of India Online News
JSW Group & Korea’s POSCO Group sign MoU to develop integrated steel plant in India
The two Groups will also explore collaborations in the areas of battery materials related to Electric Vehicles (EVs). JSW Group (JSW) on Tuesday signed a Memorandum of Understanding (MoU) with Korea’s POSCO Group (POSCO) to set up an integrated steel plant in India with an initial capacity of 5 million tonnes per annum (MTPA). The… Continue reading JSW Group & Korea’s POSCO Group sign MoU to develop integrated steel plant in India
Transformer steel shortage could impact India’s energy ambitions: GTRI
With domestic production meeting only about 10-12 % of demand, India relies heavily on imports. Shortage of Cold-Rolled Grain-Oriented (CRGO) steel used for making transformers and electric motors could impact India’s ambitious power sector expansion plans, think tank GTRI said on Monday. The Global Trade Research Initiative (GTRI) said that India’s power sector is facing… Continue reading Transformer steel shortage could impact India’s energy ambitions: GTRI
Italy to cut automotive industry support by around USD 5 billion
The government led by Meloni’s predecessor Mario Draghi earmarked 8.7 billion euros through 2030 to support its carmaking sector. Italian Prime Minister Giorgia Meloni plans to cut by some 4.6 billion euros ( USD 5 billion) the funds set aside to support the country’s automotive industry between 2025 and 2030, the text of next year’s… Continue reading Italy to cut automotive industry support by around USD 5 billion
Steel Cos Struggle with INR 89k cr Stock on Rising Imports
Steel imports in the first six months of 2024-25 increased 41% to 4.7 mt from 3.3 mt a year ago. Indian steelmakers are grappling with inventory build-up despite higher consumption as imports continue to flood the domestic market, prompting the steel ministry to flag the issue and monitor the situation closely, said people familiar with… Continue reading Steel Cos Struggle with INR 89k cr Stock on Rising Imports
Rupee to remain defiant in face of higher U.S. yields, outflows
The central bank has been on offer on the dollar/rupee pair via the public sector all through the trading session in recent days. The Indian rupee is likely to open little changed on Tuesday, remaining unresponsive to U.S. Treasury yields, outflows and other external cues amid possible intervention from the Reserve Bank of India. The… Continue reading Rupee to remain defiant in face of higher U.S. yields, outflows
Audio Interview| China’s automotive industry: Global update
Ron Hesse speaks with Bill Russo In the 33-minute Audio Interview, Mr. Russo discusses these questions: Could you provide us with an overall view of the current state of the China automotive industry? What challenges are foreign car makers and suppliers facing in the world’s largest market? As Chinese automotive and tech companies are moving… Continue reading Audio Interview| China’s automotive industry: Global update
Servotech bets on EV charger production, new solar products to strengthen energy biz
To meet the above mentioned targets, the company is also planning to launch solar products and mobile apps for enhanced customer satisfaction by 2025. New Delhi: Servotech Power Systems Ltd., a 20 year old manufacturer of renewable energy solutions, has launched new products under its solar business division and announced upcoming business plans to strengthen… Continue reading Servotech bets on EV charger production, new solar products to strengthen energy biz
Incentive package in works to push green steel manufacturing
The government is readying a package to incentivise the adoption of green steel manufacturing in the country. The government is readying a package to incentivise the adoption of green steel manufacturing in the country, officials said. It could be a combination of soft loans, interest subvention scheme, viability gap funding and production-linked incentive scheme, besides… Continue reading Incentive package in works to push green steel manufacturing
Earnings from GST and VAT see marginal rise in Delhi
Through GST and VAT, Delhi govt earned INR 21,439 crore in the first six months of 2024-25. Delhi‘s earnings through motor vehicle tax and goods and services tax in the first six months of the 2024-25 financial year tax revenue were not very “encouraging”, sources in govt said. While the collection from motor vehicle tax… Continue reading Earnings from GST and VAT see marginal rise in Delhi