Union Transport Minister Nitin Gadkari Union Transport Minister Nitin Gadkari on Thursday stressed on the use of ethanol in vehicles as a cost effective and pollution-free substitute to other fuels, and said flex-fuel engines will be made mandatory in the coming days. The flex-fuel, or flexible fuel, is an alternative fuel made with a combination… Continue reading Flex-fuel engines to be made mandatory in coming days: Gadkari
Author: Economic Times of India Online News
UK’s Saietta group buys e-Traction from China Evergrande’s auto unit
British electric motor maker Saietta British electric motor maker Saietta said on Thursday that it is acquiring electric powertrain company e-Traction from China Evergrande Group’s automotive unit in a deal wroth up to 2 million euros ($2.31 million). Saietta said that its acquisition of e-Traction, a Dutch company owned by Evergrande New Energy Vehicle Group… Continue reading UK’s Saietta group buys e-Traction from China Evergrande’s auto unit
MG Motor India inaugurates residential community EV charger in Gurugram
MG had earlier partnered with Fortum and Tata Power to introduce superfast charging stations. New Delhi: MG Motor India on Thursday said it has inaugurated the first residential community charger in Gurugram with 7.4 kW AC chargers installed at The WorldSpa condominiums. The carmaker has collaborated with Electreefi and the condominium’s Residents’ Welfare Association (RWA)… Continue reading MG Motor India inaugurates residential community EV charger in Gurugram
EVs will cost equal to that of petrol vehicles in next 2 years: Gadkari
“We import 80 percent plus of our petrol and diesel requirements. We import petrol and diesel worth Rs 8 lakh crore. If we continue to depend on fossil fuels then in the next five years, our import bill will rise to Rs 25 lakh crore,” he said. The Central government is working on measures to… Continue reading EVs will cost equal to that of petrol vehicles in next 2 years: Gadkari
EV charging startup ElectricPe raises seed round of USD 3 million
EV charging startup ElectricPe New Delhi: The Bengaluru-based EV charging startup ElectricPe on Thursday said it has raised a Seed Round of $3 million. The funding is led by Blume Ventures and Micelio Fund, and the startup will utilize the capital to further develop its deep-tech platform to enable easy access to affordable charging points… Continue reading EV charging startup ElectricPe raises seed round of USD 3 million
Apple supplier Foxconn buys Ohio EV factory for $230 mn
According to a statement from the companies, Foxconn acquired $50 million of common stock directly from Lordstown Motors at a price of about $6.90 per share after signing the agreement in September. Apple‘s largest manufacturing partner Foxconn is moving ahead with a plan to acquire a Lordstown Motors vehicle assembly plant in Ohio for $230… Continue reading Apple supplier Foxconn buys Ohio EV factory for $230 mn
Net profit up 785% in Q2, this auto stock can deliver up to 28% return
Going by analyst estimates, the stock has the potential to deliver up to 28 per cent returns. Shares of Mahindra & Mahindra (M&M) climbed 3 per cent in an otherwise weak session on Wednesday, thanks to a beat on profit that surged 785 per cent in the September quarter, on a low base. This stock… Continue reading Net profit up 785% in Q2, this auto stock can deliver up to 28% return
Ford, Purdue partner on technology to speed up EV charging
Purdue researchers are trying to develop an alternative cooling method to prevent battery overheating with a charging cable that can deliver an increased current. Ford and Purdue University are partnering to develop a new charging station cable compatible with vehicle charging technology still being developed with hopes of making a broader transition to electric vehicles… Continue reading Ford, Purdue partner on technology to speed up EV charging
U.S. auto safety regulator awards over $24 mln to Hyundai Motor whistleblower
The award to ex-Hyundai Motor engineer Kim Gwang-ho is the biggest ever in a whistleblower case in the auto sector globally, according to law firm Constantine Cannon. The U.S. auto safety regulator announced on Tuesday its first-ever reward to a whistleblower, handing out more than $24 million to a former Hyundai Motor Co employee who… Continue reading U.S. auto safety regulator awards over $24 mln to Hyundai Motor whistleblower
General Electric to split into 3 public companies
The company, founded in 1892, has refashioned itself in recent years from the sprawling conglomerate created by Jack Welch in the 1980s to a much smaller and focused entity. It was heavily damaged by the financial crisis. The storied American company General Electric will divide itself into three public companies focused on aviation, healthcare and… Continue reading General Electric to split into 3 public companies