“Saudi Arabia is going through a large growth phase, a large part of steel today is getting imported into Saudi Arabia. So this is basically a domestic plant,” he said. New Delhi: Essar Group is awaiting final approvals to start investing about USD 4.5 billion in building a low-carbon steel plant in Saudi Arabia, its… Continue reading Essar awaits final approvals to start work on USD 4.5 bn steel plant in Saudi Arabia
Author: Economic Times of India Online News
British International Investment eyes expansion in Indian EV market with USD 300 mn investment
For BII in India, he said climate in general has the highest attention and within that “EV is probably going to be the largest area for us to invest.” British International Investment, UK’s development finance institution, is betting big on the Indian electric vehicles ecosystem and expects to invest another USD 300 million in the… Continue reading British International Investment eyes expansion in Indian EV market with USD 300 mn investment
Bureau of Indian Standards introduces 2 new standards to enhance safety, quality of electric vehicles
These standards are crucial in driving the transition to a more sustainable, environmentally friendly, and efficient transportation system in the country. The Bureau of Indian Standards (BIS) has introduced two new standards, IS 18590: 2024 and IS 18606: 2024, aimed at enhancing the safety of electric vehicles in the L, M, and N categories. These… Continue reading Bureau of Indian Standards introduces 2 new standards to enhance safety, quality of electric vehicles
South Korea’s auto exports to reach record USD 74.7 bn in 2024
“Car exports are expected to enjoy solid growth in the second half, led by strong demand from the North American market and the rising popularity of domestic makers’ SUVs and hybrid models,” the report read. South Korea’s car exports are forecast to reach a record high this year, driven by solid demand for eco-friendly models… Continue reading South Korea’s auto exports to reach record USD 74.7 bn in 2024
Tesla, opponents of Musk’s pay clash over resolving compensation lawsuit
In response, shareholder attorneys said the vote to ratify Musk’s pay has no legal effect and the only way for Tesla to challenge the January ruling is to appeal to the Delaware Supreme Court. Tesla and opponents of Elon Musk‘s compensation clashed on Friday over ways to resolve the legal quagmire that has engulfed the… Continue reading Tesla, opponents of Musk’s pay clash over resolving compensation lawsuit
Ferrari eyes electric future with solar-powered factory
Dubbed an “e-building”, the rectangular, 25-metre-high factory will be powered in part by more than 3,000 solar panels installed on the roof, producing 1.3 megawatts at their peak. Milan, Jun 21, 2024 -Italian luxury carmaker Ferrari on Friday inaugurated a new solar-powered factory at the group’s historic Maranello site, where its much anticipated wholly electric… Continue reading Ferrari eyes electric future with solar-powered factory
Bajaj Auto gears up for robust growth in domestic market
Commenting on the last fiscal year, Bajaj noted that a strong domestic performance compensated for muted exports, which continued to be impacted by challenging conditions in key overseas markets. Bajaj Auto is poised to maintain its momentum in the domestic market and expand production capacity for its new ventures in the current fiscal year, driven… Continue reading Bajaj Auto gears up for robust growth in domestic market
Honda accused by US agency of illegal union-busting at Indiana plant
The case is Honda Development and Manufacturing of America, National Labor Relations Board, No. 25-CA-331556. Honda has been accused by the National Labor Relations Board of violating the rights of workers at a Greensburg, Indiana, factory by illegally cracking down on union organizing, an agency spokeswoman said on Thursday. The board’s general counsel issued a… Continue reading Honda accused by US agency of illegal union-busting at Indiana plant
Global EV adoption accelerates with India leading the charge: Forecasts predict 5.9 million sales by 2040
In the base case ETS, e-car sales continue to rise globally, even though growth has slowed in the US and Europe as a result of regulatory and political changes, and some automakers pushing back their EV targets. New Delhi: The demand for EVs is rising despite receiving a mixed response globally. Increase of demand in… Continue reading Global EV adoption accelerates with India leading the charge: Forecasts predict 5.9 million sales by 2040
Rupee ticks up after weaker yuan triggers fall to record low
“We expect the pair to slip back into the 83.0-83.50 range over the coming month.” The Indian rupee inched higher on Friday recovering from a decline to its lifetime low in the previous session that was spurred by weakness in the Chinese yuan and likely dollar outflows. The rupee was at 83.61 against the U.S.… Continue reading Rupee ticks up after weaker yuan triggers fall to record low