Updated On Dec 4, 2024 at 08:48 AM IST Read by: 100 Industry Professionals Read by 100 Industry Professionals India’s electric vehicle (EV) penetration has grown at an annual rate of approximately 200 basis points (bps) between FY21 and FY24 but needs to double to 380 bps per year to achieve the national target of… Continue reading EV penetration slows, India faces challenge to hit 2030 target
Author: Economic Times of India Online News
Europe’s embattled auto sector plans plant closures and layoffs
Automotive companies in Europe are closing plants and laying off thousands of workers A slew of automotive companies across Europe have announced plant closures and big layoffs recently as they struggle with weak demand, high costs, competition from China and a slower-than-expected transition to electric vehicles. Below are layoffs and site closures announced in recent… Continue reading Europe’s embattled auto sector plans plant closures and layoffs
EKA appoints Sohel Merchant as Chief Innovation Officer to drive electric mobility solutions
Updated On Dec 4, 2024 at 08:25 AM IST Read by: 100 Industry Professionals Read by 100 Industry Professionals Sohel Merchant, Chief Innovation Officer, EKA Mobility EKA Mobility, an electric vehicle and technology company, has appointed Sohel Merchant as its Chief Innovation Officer. Merchant brings over 20 years of automotive industry experience to EKA, having… Continue reading EKA appoints Sohel Merchant as Chief Innovation Officer to drive electric mobility solutions
IndiGo files trademark infringement suit against Mahindra Electric over ‘6E’ branding
IndiGo uses “6E” as its callsign and a key part of its brand, including services like 6E Prime and 6E Flex. The airline registered the trademark “6E Link” in 2015 for various uses, including advertising and airline services. IndiGo on Tuesday filed a lawsuit against Mahindra Electric Automobile Limited over the use of “6E” in… Continue reading IndiGo files trademark infringement suit against Mahindra Electric over ‘6E’ branding
Tata AutoComp Systems appoints Manoj Kolhatkar as MD & CEO
Updated On Dec 3, 2024 at 04:48 PM IST Read by: 100 Industry Professionals Read by 100 Industry Professionals Manoj Kolhatkar brings 22 years of experience within the Tata Group, including roles at Tata Motors and TACO. Tata AutoComp Systems Limited (TACO) has appointed Manoj Kolhatkar as its new Managing Director & CEO. Kolhatkar, a… Continue reading Tata AutoComp Systems appoints Manoj Kolhatkar as MD & CEO
End of an era as Carlos Tavares exits Stellantis
Carlos Tavares There was a point in time when Carlos Tavares could do no wrong. He was seen as the miracle turnaround man for Groupe PSA when it was literally down and out in the period of the global slowdown for 2009 to 2013. Not only did Tavares bring Peugeot back from the brink but… Continue reading End of an era as Carlos Tavares exits Stellantis
Bhavish Aggarwal pledges 1.1% stake in Ola Electric to support AI startup Krutrim AI
The promoter shares in Ola Electric, which went public in August, are currently in a lock-in period under Securities and Exchange Board of India regulations for newly listed companies. Ola Electric founder Bhavish Aggarwal has pledged a 1.1% stake in the electric two-wheeler maker from his personal holding to fund his artificial intelligence startup, Krutrim… Continue reading Bhavish Aggarwal pledges 1.1% stake in Ola Electric to support AI startup Krutrim AI
Three EV makers raided for INR 297 cr subsidy ‘fraud’
Updated On Dec 3, 2024 at 08:49 AM IST Read by: 100 Industry Professionals Read by 100 Industry Professionals The SFIO probe revealed that several restricted parts under the phased manufacturing programme (PMP) guidelines were “either directly or indirectly imported from China thereby flouting the PMP guidelines under FAME – II”, the ministry said. The… Continue reading Three EV makers raided for INR 297 cr subsidy ‘fraud’
Drive mode! New models rev up EV sales again in November
Updated On Dec 3, 2024 at 08:45 AM IST Read by: 100 Industry Professionals Read by 100 Industry Professionals As many as 8,357 EVs were sold last month compared to 7,064 units in November 2023, showed data from the Vahan portal of the ministry of road, transport & highways (MoRTH). New models lifted electric car… Continue reading Drive mode! New models rev up EV sales again in November
Aramco acquires 10% stake in Horse Powertrain to advance low-emission mobility solutions
The investment will accelerate Horse Powertrain’s development of next-generation ICE and hybrid powertrains. Aramco, through its subsidiary Aramco Asia Singapore, has finalized a 10% stake acquisition in Horse Powertrain, a leading powertrain solutions provider. This investment, valued at €7.4 billion, aims to advance lower-emission mobility solutions. The deal, completed on an undisclosed date after securing… Continue reading Aramco acquires 10% stake in Horse Powertrain to advance low-emission mobility solutions