Gensol Engineering is part of the Gensol group, which provides EPC services for the development of solar power plants. New Delhi: Gensol Engineering Ltd reported a substantial increase in consolidated net profit for the March 2024 quarter, reaching INR 20 crore, driven by higher revenue. In comparison, the company had posted a profit after tax… Continue reading Gensol Engineering Q4 net profit rose to INR 20 cr
Author: Economic Times of India Online News
Incharz to develop exclusive EV charging stations for 3ECO, signs MoU
3ECO will provide fleet hubs to Incharz for setting up EV charging stations. New Delhi: Incharz, an EV Charge Point Operator, has signed an MoU with 3ECO, a prominent manufacturer of L-3, L-5 cargo vehicles and an EV cargo fleet operator, to develop exclusive EV charging stations for its entire fleet pan India. This initiative… Continue reading Incharz to develop exclusive EV charging stations for 3ECO, signs MoU
The dilemma of tax incentives: Hybrids vs EVs in India
The lower cost of operating an EV is offset by its sticker price and convenience in charging. Hybrid cars are gaining on EVs in India because they represent a gradual pathway to energy transition. Lack of charging infrastructure offsets the tax advantage EVs enjoy over hybrids. Besides, EVs are still more expensive to manufacture, with… Continue reading The dilemma of tax incentives: Hybrids vs EVs in India
China’s industrial profits swing back to growth; EVs revenue fall in April
Li Auto, one of the few profitable Chinese EV makers, posted a 37% fall in first-quarter profit, missing estimates. China’s industrial profits swung back into positive territory in April while gains over the first four months period held steady at first-quarter levels, official data showed on Monday, suggesting steps to prop up the economy had… Continue reading China’s industrial profits swing back to growth; EVs revenue fall in April
Goodluck India Q4 net profit grows 33% to INR 37 cr
Its expenses increased to INR 860.93 crore from INR 730.52 crore in January-March FY23. New Delhi: Steel maker Goodluck India on Tuesday reported a 33% rise in its consolidated net profit to INR 37.21 crore for the March quarter on account of increased revenues. It had posted a profit of INR 27.96 crore for the… Continue reading Goodluck India Q4 net profit grows 33% to INR 37 cr
BHEL ties up with BARC for electrolyser system to produce hydrogen energy
This will be a step further in BHEL’s contribution to the ‘National Green Hydrogen Mission’ and ‘Aatma Nirbhar Bharat Abhiyan’. Bharat Heavy Electricals Limited (BHEL) has signed an agreement with the Bhabha Atomic Research Centre for 50 kW alkaline electrolyser system to produce hydrogen, the company informed the exchange in a filing. “Bharat Heavy Electricals… Continue reading BHEL ties up with BARC for electrolyser system to produce hydrogen energy
Brazil surpasses Belgium as top export market for Chinese EVs, hybrids
Spain, France, the Netherlands and Norway were among the countries that saw biggest falls in imports of China-made electric passenger vehicles in January-April, according to CPCA data. Brazil has overtaken Belgium as the largest export market for Chinese new energy vehicles, industry data showed, as Chinese carmakers increase sales to non-European markets amid European Union’s… Continue reading Brazil surpasses Belgium as top export market for Chinese EVs, hybrids
Rupee closes mildly weaker, forward premiums slip
The dollar index declined 0.1% to 104.6 extending its decline from Friday, while most Asian currencies rose between 0.1% to 0.4%. The Indian rupee closed slightly down on Monday, unable to build on recent gains as local dollar demand pressured the currency even as most of its Asian peers rose. The rupee ended at 83.13… Continue reading Rupee closes mildly weaker, forward premiums slip
Over 10 lakh motor accident claims pending in India, worth INR 80,000 crore: RTI data
The road safety activist also raised concerns over the “snail pace’ of claim settlements, estimating that it takes an average four years for a victim to get financial relief. There are a total of 10,46,163 motor accident claims pending in the country, amounting to INR 80,455 crore. The number of these claims has been consistently… Continue reading Over 10 lakh motor accident claims pending in India, worth INR 80,000 crore: RTI data
Lectrix EV to invest INR 100 crore in FY25; plans multiple launches to strengthen EV market position
Lectrix EV ‘Eco’ model at INR 50,000 New Delhi: Lectrix EV, an electric mobility arm of the SAR Group aspires to create its own niche in the two-wheeler segment. For which the company has planned several new model launches in both two-wheeler and commercial vehicle segments. The company wants to offer a diverse portfolio across… Continue reading Lectrix EV to invest INR 100 crore in FY25; plans multiple launches to strengthen EV market position