The plan under evaluation is the same as what port-to-energy conglomerate Adani Group did in 2015 – creating separate listed entities for power, mining, gas and transmission businesses. Billionaire Anil Agarwal’s Vedanta Ltd on Wednesday said it is mulling restructuring of the mining behemoth that may include demerger and listing of the aluminium, iron &… Continue reading Vedanta mulls group restructuring; separate listing of businesses
Author: Economic Times of India Online News
Canoo advances manufacturing dates for electric vehicles
Electric vehicle company Canoo Inc has advanced its U.S. manufacturing timeline to begin production before the fourth quarter next year, and would expand to more locations apart from its Oklahoma facility, it said on Monday. In June, Canoo said it would set up a plant in Pryor, Oklahoma, to assemble the pod-shaped vans it calls… Continue reading Canoo advances manufacturing dates for electric vehicles
Reduce vehicle usage by 30% on emergency basis: GRAP
The vehicle usage could be minimised by working from home, carpooling, and optimising field activities, etc, a sub sub-committee of GRAP constituted by Commission for Air Quality Management (CAQM) order said. In the wake of the ‘severe’ air quality in Delhi, the Graded Action Response Plan (GRAP) has advised THE government and private offices along… Continue reading Reduce vehicle usage by 30% on emergency basis: GRAP
Ping An seeks to sell $2.1 bln stake in Autohome: Sources
Ping An’s insurance business and investment returns have been hit by weakness in China’s economy, which posted its slowest growth in a year in the third quarter. HONG KONG – Financial conglomerate Ping An Insurance Group of China is seeking to offload its 44% stake in auto services portal Autohome , three people familiar with… Continue reading Ping An seeks to sell $2.1 bln stake in Autohome: Sources
Kerala startups have great scope to develop e-vehicles: Union Minister Chandrasekhar
Kochi: Kerala, with its core ability in electronics system design, must focus more on that field alongside electric vehicles, Union Minister of State Rajeev Chandrasekhar said on Friday. Startups in the country must make use of global opportunities in the post-Covid era by tapping the potential in electronics, Chandrasekhar said after a visit to the… Continue reading Kerala startups have great scope to develop e-vehicles: Union Minister Chandrasekhar
Toshiba announces plan to split into 3 separate businesses
Toshiba’s plan will see it spin off two core businesses — its energy and infrastructure unit as well as its device and storage operation. Japanese conglomerate Toshiba has confirmed plans to split the company into three separate businesses, BBC reported. Toshiba said the three companies would be focused on infrastructure, semiconductors and devices. The company… Continue reading Toshiba announces plan to split into 3 separate businesses
Apple supplier Foxconn cautious on 2022 revenue outlook
Earlier Foxconn, the world’s largest contract electronics maker, reported a 20% jump in third-quarter profit. Apple supplier Foxconn forecast on Friday that a global chip shortage would run into the second half of 2022 and its fourth-quarter revenue for electronics, including smartphones, would fall more than 15%. Chairman Liu Young-way said during a conference call… Continue reading Apple supplier Foxconn cautious on 2022 revenue outlook
Rivian rockets past GM to become 2nd most valuable carmaker
Rivian’s goal this year is to produce 1,000 electric vehicles. NEW YORK: Rivian Automotive, a company that has delivered about 150 electric pickup trucks mostly to employees, has surpassed General Motors to become the nation’s second most valuable automaker. The California company’s market valuation exceeded Ford’s in its first day a public company Wednesday. Its… Continue reading Rivian rockets past GM to become 2nd most valuable carmaker
BUZZ-Toshiba’s Frankfurt shares drop on plans to split business
(Adds London-listed CDIs) ** Toshiba’s Frankfurt shares down around 4% after co announces plans to break itself into three independent firms ** Japanese co, whose plans comes hot on the heels of a similar move by U.S. giant General Electric, says it will spin off its energy and infrastructure business and its device and storage… Continue reading BUZZ-Toshiba’s Frankfurt shares drop on plans to split business
Hyundai Motor Group establishes US UAM subsidiary ‘Supernal’ in Washington
Supernal is planning to introduce a fully electrified UAM model in 2028 and regional air mobility (RAM) for intercity operations in 2030. Hyundai Motor Group confirmed the name of its urban air mobility (UAM) subsidiary in Washington DC, the US as ‘Supernal‘ and will speed up the UAM business. Hyundai Motor Group set up the… Continue reading Hyundai Motor Group establishes US UAM subsidiary ‘Supernal’ in Washington