TotalEnergies declined to give an amount of the total investment, but said rates today for rolling out 3,000 fast- charge points, which use direct current electricity, was on the order of 300 million euros. French oil major TotalEnergies and UK power firm SSE are seeking to grab a 20% share of the electric vehicle (EV)… Continue reading TotalEnergies, SSE to launch EV charging company in UK and Ireland
Author: Economic Times of India Online News
Premiumisation in India’s consumption continues unabated in first half of 2024
Sales of these vehicles grew at more than twice the rate of the overall industry – by 13% to nearly a million units in this period. The premiumisation story in consumption has continued unabated in the first half of calendar 2024, as per latest data from companies and researchers. This is even when there is… Continue reading Premiumisation in India’s consumption continues unabated in first half of 2024
Indian Oil Corp receives two bids for green hydrogen plant amid scrutiny and industry concerns
“The tender was extended a number of times to facilitate bidding,” the refiner said in response to queries. Indian Oil Corp (IOC) received just two bids to build the country’s first green hydrogen plant at its Panipat refinery in Haryana, said two industry executives aware of the development. This is in response to the second… Continue reading Indian Oil Corp receives two bids for green hydrogen plant amid scrutiny and industry concerns
Sweden to abstain in vote on EU tariffs on China EVs
The first vote is not binding and will be followed by a final vote after which the European Commission’s tariff proposal will be adopted unless there is qualified majority against it. Sweden will abstain in Monday’s vote by European Union member states on imposing provisional tariffs on Chinese electric vehicles, Johan Forssell, Minister for International… Continue reading Sweden to abstain in vote on EU tariffs on China EVs
Automobile retail sales up 9% with 61,91,225 units in Q1 FY25, says FADA
“The recovery in the two-wheeler segment is promising, largely due to the emerging performance in rural areas, although these are early trends,” Singhania noted. New Delhi: Automobile retail sales surged by 9% year-on-year in the first quarter of FY25, reaching a total of 61,91,225 units compared to 56,59,060 units in the same period of FY24,… Continue reading Automobile retail sales up 9% with 61,91,225 units in Q1 FY25, says FADA
Tata Motors Automotive Skill Labs nurtures over 4000 students annually with future-ready automotive skills
Upon completing the program, students receive joint certificates from Tata Motors and NVS. New Delhi: Tata Motors, in collaboration with Navodaya Vidyalaya Samiti (NVS), has established 25 ‘Automotive Skill Labs’ at Jawahar Navodaya Vidyalayas (JNVs) in select states to provide future-ready automotive skills to over 4,000 students annually. This initiative aims to nurture talent and… Continue reading Tata Motors Automotive Skill Labs nurtures over 4000 students annually with future-ready automotive skills
Kerala receives investment proposals worth over INR 72,000 cr to set up green hydrogen, ammonia plants
Kerala’s draft green hydrogen policy has been approved and is awaiting the approval by the Council of Ministers. The Kerala government has received investment proposals worth INR 72,760 crore from four major companies to attain subsidies under the state’s draft green hydrogen policy for setting up green hydrogen and green ammonia facilities in the state.… Continue reading Kerala receives investment proposals worth over INR 72,000 cr to set up green hydrogen, ammonia plants
Rupee likely to inch up despite weakness in Asian peers
Meanwhile, data out on Friday showed that U.S. June producer prices increased slightly more than expected on Friday. However, that did not affect the Federal Reserve rate cut outlook. The Indian rupee is likely to open marginally higher on Monday, shrugging off the decline in Asian peers amid higher odds of Donald Trump winning the… Continue reading Rupee likely to inch up despite weakness in Asian peers
EV Industry seeks incentives, funds for infrastructure, tax rationalisation from Budget
The Faster Adoption and Manufacturing of Hybrid and Electric Vehicles in India (FAME India) Scheme, introduced in 2015, promotes electric and hybrid vehicles in India and has completed two terms: FAME-1 and FAME-2. As Finance Minister Nirmala Sitharaman gears up for the Union Budget 2024-25 on July 23, the electric vehicle (EV) sector is optimistic… Continue reading EV Industry seeks incentives, funds for infrastructure, tax rationalisation from Budget
Centre asks Jharkhand to auction 10 mineral blocks, warns it will go ahead if state fails to do so
Of the 38 geological reports handed over by Geological Survey of India to the Jharkhand government, only five have been utilised for auction so far. The mines ministry has asked the Jharkhand government to put on sale 10 mineral blocks, including a gold mine, and warned that if the state failed to do so, the… Continue reading Centre asks Jharkhand to auction 10 mineral blocks, warns it will go ahead if state fails to do so