India’s electric mobility ambitions could get a boost in the upcoming budget, with the government examining incentives to encourage local manufacture of electric vehicles (EVs) and energy storage systems (ESS). Customs duty exemptions available on lithium ion cells for making mobile phone battery packs could be extended to EV batteries and ESS as well. Additionally,… Continue reading Sops for India-made EVs, storage systems on the table
Author: Economic Times of India Online News
Taking steps to reduce dependency on Chinese goods: Piyush Goyal
The government Friday said it has taken a series of measures to reduce dependency on Chinese goods and increase the manufacturing capacity of domestic industries and their competitiveness. Replying to supplementaries on India-China trade relationship in the Rajya Sabha, commerce and industry minister Piyush Goyal said India’s trade deficit, which was $1 billion with China… Continue reading Taking steps to reduce dependency on Chinese goods: Piyush Goyal
Wholesale inflation in US further slowed in November to 7.4%
Rising prices are still straining Americans’ finances, particularly for food, rent and services such as haircuts, medical care and restaurant meals. Wholesale prices in the United States rose 7.4% in November from a year earlier, a fifth straight slowdown and a hopeful sign that inflation pressures across the economy are continuing to cool. The latest… Continue reading Wholesale inflation in US further slowed in November to 7.4%
China’s November vehicle sales fall 7.9% – industry body
Sales of new-energy vehicles, which include purely electric, plug-in hybrid and hydrogen fuel-cell vehicles, were 72.3% higher in November than a year before. China’s automobile sales in November tumbled by almost 8% from a year before, as an expected buying rush before government incentives expired failed to appear, putting the world’s largest vehicle market on… Continue reading China’s November vehicle sales fall 7.9% – industry body
China’s Li Auto sees higher deliveries in Q4; third-quarter loss widens
Rivals Xpeng Inc and Nio Inc also reported wider losses owing to soaring inflation. China’s Li Auto Inc on Friday forecast higher delivery of vehicles and a rise in revenue in the fourth quarter, banking on a production ramp-up and better cost management. The electric vehicle maker saw net loss widen to 1.65 billion yuan… Continue reading China’s Li Auto sees higher deliveries in Q4; third-quarter loss widens
FADA cautiously optimistic on near term outlook for auto sales
FADA remains cautiously optimistic in the near term. The hike in vehicle prices by the manufacturers, the fallout of the 35 basis points (bps) increase in the repo rate by the Reserve Bank of India (RBI), may dent the confidence of two-wheeler and entry level car buyers, said the Federation of Automobile Dealers Associations (FADA).… Continue reading FADA cautiously optimistic on near term outlook for auto sales
India’s retail vehicle sales jumps 26% in November
Sales of commercial vehicles rose 32.8%, while the smallest gains were in two-wheelers and passenger vehicles, at 23.6% and 21.3%, respectively. The festive and wedding season in India helped boost the country’s total retail vehicles sales by 26% in November from a year ago, according to data from industry body Federation of Automobile Dealers Associations… Continue reading India’s retail vehicle sales jumps 26% in November
State to get India’s 1st hydrogen-powered vehicle project: CM
Triton EV is working in the field of electric vehicles as well as hydrogen vehicles. Chief minister Eknath Shinde on Thursday said there will be a huge investment in the state for making hydrogen-powered vehicles, and positive discussions have been held with the America-based Triton Electric Vehicles (EV) company to start this project. Himanshu Patel,… Continue reading State to get India’s 1st hydrogen-powered vehicle project: CM
China’s CATL to provide EV batteries for Honda starting in 2024
Honda Motor Co said on Thursday that Chinese battery giant CATL would supply batteries for seven years for its electric vehicles (EV) in China. The Japanese automaker said the Chinese firm would provide 123 GWh worth of batteries starting in 2024 through 2030 for the Honda’s e:N Series. The announcement is part of the two… Continue reading China’s CATL to provide EV batteries for Honda starting in 2024
Nio to install 20 battery-swapping stations in EnBW charging parks
The carmaker, which is aiming for 120 swapping stations in Europe by the end of 2023. Chinese electric vehicle maker Nio will install swapping stations, where drivers can switch their car battery for a fully-charged one, at 20 charging parks in Germany owned by utility EnBW, the utility provider said on Thursday. Nio launched in… Continue reading Nio to install 20 battery-swapping stations in EnBW charging parks