Across the country, thousands of people have been making the same calculation, leading to a surge of electric car sales. The key factor that nudged Dan McGrath and his wife to lease a Hyundai Ioniq 5 SUV in August was the impending end of a $7,500 federal tax credit available to people who get a… Continue reading Electric vehicles face a ‘pretty dreadful year’ in the US
Author: Economic Times of India Online News
Auto components, FMCG, defence among 9 sectors set to benefit from festive demand
According to Smallcase’s report, nine sectors, including auto components, FMCG, defence, clean energy and others, are set to benefit from a combination of festive demand, policy reforms, and structural growth drivers. India’s navratri economy is gaining momentum with strong festive tailwinds as e-commerce sales are projected at ₹1.2 lakh crore — with UPI volumes crossing… Continue reading Auto components, FMCG, defence among 9 sectors set to benefit from festive demand
PM E-DRIVE: Centre rolls out ₹2,000 crore subsidy scheme for EV charging stations
Battery swapping and charging stations are also covered, with 80 per cent subsidy support. The Ministry of Heavy Industries (MHI) has issued operational guidelines which earmark an outlay of ₹2,000 crore for offering subsidies of up to 100 per cent for setting up public charging stations for electric vehicles in cities and across highways under… Continue reading PM E-DRIVE: Centre rolls out ₹2,000 crore subsidy scheme for EV charging stations
Trump touts a boom in US auto plant construction, but carmakers’ actions tell a different story
To sidestep tariffs, some automakers are retooling existing, idle factory space in the US to build vehicles that they have been importing, and which now face levies. President Donald Trump frequently describes a booming US auto industry, fueled by new factories from Canada, Mexico and Europe that he says will soon be producing American-made vehicles… Continue reading Trump touts a boom in US auto plant construction, but carmakers’ actions tell a different story
Toyota workers in Brazil approve temporary layoff plan, union says
Toyota said on Sunday it continues to assess damage at the Porto Feliz facility, adding that it is expected to be months before work can be resumed at the plant. Workers for Toyota in Brazil voted overwhelmingly on Sunday to approve a plan for temporary layoffs following storm damage to one of the Japanese carmaker’s… Continue reading Toyota workers in Brazil approve temporary layoff plan, union says
Tata Motors shares rise 2% as JLR bags £2 billion loan, slew of management changes
In a slight relief, the luxury car maker announced Friday a phased restart of its operations after a cyberattack halted production for almost a month. Shares of Tata Motors jumped 2 per cent to their day’s high of ₹685.95 on the BSE on Monday, September 29, after its UK subsidiary JLR secured a £2 billion… Continue reading Tata Motors shares rise 2% as JLR bags £2 billion loan, slew of management changes
Matter partners with Bolt.Earth to expand EV charging access
According to the Matter’s official statement, the rollout will be phased. Initially, Matter riders will gain access to Bolt.Earth’s nationwide charging infrastructure. Electric motorcycle startup Matter Motor on Monday announced that it has entered into a strategic partnership with Bolt.Earth, an EV charging network provider, to expand EV charging access. Under the partnership, Matter’s AERA… Continue reading Matter partners with Bolt.Earth to expand EV charging access
EV registration on the decline in Kerala
KSEB has made it mandatory for households to have an earth leakage circuit breaker (ELCB) for charging EVs. Electric vehicles (EVs) seem to be losing their charm among prospective buyers in Kerala. According to govt data, 75,812 battery-operated vehicles (BOV) were registered in Kerala in 2023, with around 6,317 registered per month. By 2024, the… Continue reading EV registration on the decline in Kerala
India aims to be among top 2 auto makers, double auto production in 5 years
The goal of doubling passenger vehicle (PV) exports by 2030 is also being finalised with steeper targets for 2047 on the anvil. India is setting an ambitious aim of doubling automobile production over the next five years, and a further fourfold surge to around 200 million vehicles by 2047. This would catapult the country to… Continue reading India aims to be among top 2 auto makers, double auto production in 5 years
New EVs to have Acoustic Vehicle Alerting System from October 1, 2026
The move is aimed at alerting pedestrians about approaching EVs which do not emit any sound and sometimes result in accidents. The ministry of road transport and highways has mandated all new private and commercial electric vehicles to be fitted with Acoustic Vehicle Alerting System (AVAS) with effect from October 1, 2026 while the existing… Continue reading New EVs to have Acoustic Vehicle Alerting System from October 1, 2026