The new public money comes on top of a USD 5 billion subsidy programme for computer chips, bringing Turkey’s total spending on EV development to USD 15 billion. Turkey announced Friday a plan for billions of dollars in new subsidies to encourage the development and production of electric vehicle batteries, aiming to become the regional… Continue reading Turkey promises billions more for e-vehicle ambitions
Author: Economic Times of India Online News
Surging shipping costs give companies a sinking feeling
Tyre maker CEAT saw a 3-percentage-point drop in profit margin in the June quarter due to higher input costs. The global shipping industry is facing a deja vu of the pandemic era, and its impact is cascading across sectors. Spot freight rates have soared around 105% in the past three months and a severe container… Continue reading Surging shipping costs give companies a sinking feeling
India will need to be vigilant if it opens its doors to Chinese EV makers
China is now the world leader in electric cars and it makes sense for India to be aligned with its neighbour given its own interest in electrification for the auto segment,” an industry official told ETAuto. New Delhi: The Economic Survey has made a strong case for attracting investments from China. The logic is that… Continue reading India will need to be vigilant if it opens its doors to Chinese EV makers
Government extends EMPS by 2 months, increases funding to INR 778 crore
The extended EMPS has enhanced targets too: it will now support 560,789 electric vehicles in all – 500,080 electric two-wheelers (e-2Ws) and 60,709 electric three-wheelers (e-3Ws). New Delhi: The Electric Vehicle Promotion Scheme (EMPS), which was slated to end by July 31, has been extended by two months. It will now have a nearly 50%… Continue reading Government extends EMPS by 2 months, increases funding to INR 778 crore
How Germany’s hydrogen economy could transform energy use
Grey hydrogen made from gas of which Germany uses some 42 TWh each year, costs around USD 3/kg, indices show. German utility EnBW this week pledged 1 billion euros (USD 1.08 billion) to build pipelines to carry clean hydrogen as part of a plan for a nationwide grid that will start commercial operations by 2032.… Continue reading How Germany’s hydrogen economy could transform energy use
Tata Power Solar partners with Bank of India for rooftop solar and EV charging loans
UDYAM registered MSME customers looking to set up rooftop solar systems or EV charging stations can avail of a loan of up to INR 30 crores. New Delhi: Tata Power Solar Systems Limited (TPSSL) has announced a strategic partnership with Bank of India (BOI) to facilitate financing for rooftop solar installations and electric vehicle (EV)… Continue reading Tata Power Solar partners with Bank of India for rooftop solar and EV charging loans
Rupee likely to slip to all-time low amid Chinese yuan volatility
The rupee’s higher yield differential relative to the yuan and the low volatility of both currencies have made using the yuan to fund long bets on the rupee among the most attractive carry trades in Asia. The Indian rupee is expected to dip at an all-time low on Friday amid volatility in the Chinese yuan,… Continue reading Rupee likely to slip to all-time low amid Chinese yuan volatility
Budget proposals for critical minerals, energy transition to push net-zero goals: Energy players
Abolishment of angel tax is a great and long overdue step boosting investors’ confidence and the promising EV and clean tech startup ecosystem. New Delhi: The Budget announcements related to critical minerals and green transition will not only make India self reliant in resources but also help in meeting net-zero goals, energy industry players said.… Continue reading Budget proposals for critical minerals, energy transition to push net-zero goals: Energy players
Tata Motors market capitalisation exceeds INR 4 lakh cr
This move aims to simplify and consolidate the company’s capital structure and facilitate the demerger process. Tata Motors’ market capitalisation crossed INR 4 lakh crore for the first time on Thursday, with shares rising 6.2% to close at INR 1,091 after an upgrade by Nomura. The firm’s A-ordinary shares, which have differential voting rights, saw… Continue reading Tata Motors market capitalisation exceeds INR 4 lakh cr
E-Fill Electric receives ARAI certification for AC and DC chargers
E-Fill Electric has quickly become a leader in the EV charging industry. New Delhi: E-Fill Electric, established in 2019 and based in Sonipat, India, with an office in Texas, USA, has received the Automotive Research Association of India (ARAI) certification for its AC and DC chargers. E-Fill Electric’s chargers, ranging from 3.3kW to 240kW, now… Continue reading E-Fill Electric receives ARAI certification for AC and DC chargers