The EU-China EV tariff dispute is a significant setback to the global electrification of the automotive industry. Despite rapid growth in passenger vehicle export volumes, Chinese original equipment manufacturers (OEMs) continue to face various uncertainties in the global market, according to a new report. For several OEMs, weak channel and product localisation capabilities have led… Continue reading Chinese automakers continue to face uncertainties in global market
Author: Economic Times of India Online News
Oil holds at 2-week high as Russia, Iran tensions support prices
Investors were also focused on rising crude oil demand at China and India, the world’s top and third-largest importers, respectively. Oil prices hovered near two-week highs on Monday following 6% gains last week, as geopolitical tensions heightened between western powers and major oil producers Russia and Iran, raising risks of supply disruption. Brent crude futures… Continue reading Oil holds at 2-week high as Russia, Iran tensions support prices
Rupee poised for some relief on softer dollar, portfolio flows
Expectations of some inflows, a broadly weaker dollar and the RBI’s stiff defence are supportive of the rupee, but merchant dollar demand could keep gains shallow, a trader at a state-run bank said. The Indian rupee may log mild gains on Monday helped by a pullback in the U.S. dollar and portfolio inflows on account… Continue reading Rupee poised for some relief on softer dollar, portfolio flows
Northvolt CEO steps down after company files for bankruptcy
Peter Carlsson, CEO and Co-Founder, Northvolt Northvolt’s CEO and co-founder Peter Carlsson stepped down on Friday, a day after Europe’s biggest hope for an electric vehicle battery champion filed for U.S. Chapter 11 bankruptcy protection. The Swedish maker of battery cells went in a matter of months this year from being Europe’s best shot in… Continue reading Northvolt CEO steps down after company files for bankruptcy
Northvolt crisis may be make or break for Europe’s EV battery ambitions
Making batteries and cells, the units that store and convert chemical energy into electricity, is a delicate process and doing so at scale is a challenge for any battery maker. Northvolt‘s financial collapse deals a blow to Europe’s plan to set up its own battery industry to power electric cars, stirring a debate about whether… Continue reading Northvolt crisis may be make or break for Europe’s EV battery ambitions
NTPC Green, Andhra Pradesh form JV for solar, wind, green hydrogen projects
The venture’s first phase of projects is expected to be completed by May 2027. New Delhi: NTPC Green Energy Ltd (NGEL) has formed a joint venture with Andhra Pradesh to develop renewable energy projects in the state comprising 25 GW of solar, wind and hybrid projects, 10 GW of pumped storage projects and 0.5 million… Continue reading NTPC Green, Andhra Pradesh form JV for solar, wind, green hydrogen projects
Bosch plans thousands more cuts amid weak EV demand
The group would cut 3,500 jobs in its car software division by 2027, with about half the losses coming in Germany. Germany’s Bosch said Friday it planned to cut thousands of jobs in its automotive businesses as car suppliers struggle to manage the difficult transition from combustion engines to electric vehicles. Some 5,500 jobs would… Continue reading Bosch plans thousands more cuts amid weak EV demand
GRAP-IV measures to continue for three more days in Delhi-NCR
As per the GRAP-IV restrictions imposed by the Commission for Air Quality Management, the entry of trucks to the NCR is prohibited to combat air pollution. The Supreme Court Friday ordered that GRAP-IV, the fourth stage of anti-pollution measures in effect for the National Capital Region, will remain in operation for the next 72 hours.… Continue reading GRAP-IV measures to continue for three more days in Delhi-NCR
India EV Fast Charging Summit highlights need for investment in charging infrastructure
The reliability of power supply from DISCOMS (distribution companies) emerged as a critical factor in the success of India’s EV adoption goals. The India EV Fast Charging Summit, organised by the India Energy Storage Alliance (IESA), took place in New Delhi to address the pressing need for increased investment in India’s EV charging infrastructure. With… Continue reading India EV Fast Charging Summit highlights need for investment in charging infrastructure
Ford to cut 14% of European jobs, blaming EV shift
Berlin ended EV subsidies in December last year. EV sales in Germany in the first nine months of this year were down 28.6%. Ford said on Wednesday it would cut around 14% of its European workforce, blaming significant losses in recent years compounded by weak demand for electric vehicles, a lack of government support for… Continue reading Ford to cut 14% of European jobs, blaming EV shift