The BMC decided to rent these cars for a period of eight years. By renting, the BMC was to spend around Rs 32 lakh per car. More than a year after the BMC bought its first electric vehicle (EV) for the then mayor Kishori Pednekar, the BMC has scrapped its deal to deliver four more… Continue reading A year on, BMC cancels EV deal over delay in supply
Author: Economic Times of India Online News
Tork Motors appoints Sanjiv Verma as VP- Sales and Network
Mr. Sanjiv Verma VP – Sales and Network, Tork Motors Pune: India’s first electric motorcycle maker, Tork Motors, has strengthened its leadership team through the inclusion of Sanjiv Verma as VP – Sales and Network . He will be responsible for expanding the brand’s reach to new areas. Kapil Shelke, founder & CEO, Tork Motors,… Continue reading Tork Motors appoints Sanjiv Verma as VP- Sales and Network
Fortum C&D India launches RuPay prepaid card with Pine Labs to pay at EV charging stations
The card can also be used to pay for EV charging at any charging station, including non-Fortum charging station. New Delhi: Fortum Charge & Drive (C&D) India launched the RuPay Pre-paid Card, in collaboration with Pine Labs – a flexible prepaid card that can be used for making payments for charging sessions completed at Fortum… Continue reading Fortum C&D India launches RuPay prepaid card with Pine Labs to pay at EV charging stations
California to vote on roadmap for carbon neutrality by 2045
The plan does not commit the state to taking any particular actions but sets out a broad roadmap for how California can achieve its goals. California air regulators were set to vote Thursday on an ambitious plan to cut carbon emissions in the state by changing practices in the energy, transportation and agriculture sectors, but… Continue reading California to vote on roadmap for carbon neutrality by 2045
Tesla closes up despite Musk selling $3.58B of its shares
Musk has sold nearly $23 billion worth of Tesla stock since April. Shares of Tesla rose slightly Thursday despite news that CEO Elon Musk sold another $3.58 billion worth of the electric vehicle maker’s stock this week. The stock closed at $157.67, up less than 1% but still close to its two-year lows. Tesla did… Continue reading Tesla closes up despite Musk selling $3.58B of its shares
Faraday Future targets April for EV deliveries, sees fresh funding
Existing investors are also expected to provide capital to support production of its debut model. EV startup Faraday Future Intelligent Electric Inc said on Thursday it was in discussions with investors for additional capital of up to $170 million as it sets a target to deliver its FF 91 Futurist vehicle to customers in April… Continue reading Faraday Future targets April for EV deliveries, sees fresh funding
India cuts windfall tax on crude, aviation fuel
India is the world’s third largest consumer and importer of oil. The Centre on Friday cut the windfall profit tax on domestically produced crude oil and also reduced the levy on aviation turbine fuel exports. The revised tax rates become effective from December 16, 2022. The tax on crude oil produced by local firms has… Continue reading India cuts windfall tax on crude, aviation fuel
Bank margins may come under stress amid deposit rate war
The Bank Nifty is trading near lifetime highs, reflecting the fortunes of lenders that extricated themselves from the quagmire of bad assets spawned by the last round of bankrolled capacity expansion. Yet, bank profitability, now at its highest in a decade, faces the risk of starting a downward journey yet again as the hunt for… Continue reading Bank margins may come under stress amid deposit rate war
NBFCs seen growing at 10-12 per cent this fiscal and next
Non-bank financing companies are finally shedding the Covid-era stress and could see a 40 basis point improvement in bad loan numbers, domestic rating agency ICRA said on Thursday. The rating agency also non-banks to surpass pre-Covid level profits in the current fiscal year due to higher growth in assets under management, moderation in asset quality… Continue reading NBFCs seen growing at 10-12 per cent this fiscal and next
India’s electric vehicles industry to hit $100 billion by 2030
Auto consultants say the passenger vehicle segment too will see rapid penetration going ahead though it will be lower than the government expectation. India’s electric vehicles (EV) value chain revenue pool is expected to reach anywhere between $76 billion and $100 billion by 2030, says a recent report released by Bain & Company. This could… Continue reading India’s electric vehicles industry to hit $100 billion by 2030