New Delhi: Great Wall Motors has extended the term of its initial agreement to acquire General Motors‘ India factory by six months, as the Chinese SUV maker still awaits New Delhi’s green signal for its billion-dollar foreign investment proposal. The term sheet, which was set to expire in the middle of 2021, has been extended… Continue reading Great Wall Motors extends term sheet for General Motors’ factory takeover
Author: Economic Times of India Online News
Britain keen to assist Haryana in e-vehicles, aviation
Chautala apprised Rowett about the Haryana government’s aim to ensure inclusive development, both in rural and urban areas. He said the state has a futuristic approach for growth and development and is working on drafting aerospace and e-vehicle policies, among others. Chandigarh: The British Deputy High Commissioner in Chandigarh, Caroline Rowett, on Friday called on… Continue reading Britain keen to assist Haryana in e-vehicles, aviation
Shell, Renault interested in stake in Volkswagen-backed Ionity: sources
Ionity, whose shareholders also include South Korea’s Hyundai Motor as well as Volkswagen units Porsche AG and Audi, has 348 stations in operation across the continent, with a further 45 under construction. FRANKFURT: Royal Dutch Shell and Renault are among those interested in taking a stake in electric vehicle (EV) charging group Ionity, two people… Continue reading Shell, Renault interested in stake in Volkswagen-backed Ionity: sources
Demand for e-vehicles soars as fuel prices in Pune continue to be on fire
The Pune RTO witnessed a 47% increase in e-vehicle registrations in 2020 as against the numbers of 2019. The corresponding rise in the Pimpri Chinchwad RTO was almost 112%. PUNE: Registration of e-vehicles and hybrid four-wheelers running on both petrol and CNG is gathering pace primarily due to the constant rise in fuel prices in… Continue reading Demand for e-vehicles soars as fuel prices in Pune continue to be on fire
Auto transport firm Gefco put up for sale: sources
In 2020, factory and dealership closures and delayed purchases by consumers due to the pandemic led to a 20% slide in turnover to 3.8 billion euros, while recurring EBIT fell 32% to 140 million. Car markets have since rebounded and European car registrations surged 74% in May, rising for the third month in row. FRANKFURT:… Continue reading Auto transport firm Gefco put up for sale: sources
Toyota joins hands with ACMA to share best practices with auto component firms
New Delhi: Toyota Kirloskar Motor (TKM) on Wednesday said it has inked a pact with auto componentindustry body ACMA for sharing its best practices. As per the Memorandum of Understanding (MoU), the automaker through its training arm Toyota Learning and Development India (TLDI) will share its best practices like people development and lean management principles… Continue reading Toyota joins hands with ACMA to share best practices with auto component firms
Tata chief Chandrasekaran warns world won’t return to pre-Covid norms
The pandemic has changed the nature of work, accelerating the adoption of digital technologies by at least a decade and ushering in a hybrid model, the head of India’s biggest private-sector employer told the Qatar Economic Forum. Earlier on Tuesday, acting Qatari finance minister Ali Al Kuwari said the Gulf nation won’t need to return… Continue reading Tata chief Chandrasekaran warns world won’t return to pre-Covid norms
InoBat invests in electric vehicle charging systems maker AgeVolt
Asset Manager IPM Group and Venture to Future Fund have also invested in AgeVolt. Together with Slovakia-based InoBat, their total investment in AgeVolt comes to 1.2 million euros. LONDON: Electric vehicle battery maker InoBat has invested in Slovakia-based charging systems specialist AgeVolt to supply the European market as governments set ambitious targets to cut emissions… Continue reading InoBat invests in electric vehicle charging systems maker AgeVolt
Nissan CEO says performance for April, May better than expected
New Delhi: Nissan Motor Co‘s financial performance in April and May was better than expected, the automaker’s president said at the annual general meeting (AGM) on Tuesday. The announcement to shareholders came after the automaker’s forecast last month that its sales would break even for the fiscal year that began on April 1. Thanks to… Continue reading Nissan CEO says performance for April, May better than expected
Lordstown Motors evaluates strategic partners in funding search
By Ben Klayman New Delhi: Electric vehicle startup Lordstown Motors Corp is “evaluating strategic partners” as part of its search for funding needed to stay in operation, the company’s executive chair, Angela Strand, said on Monday. Lordstown Motors earlier this month warned it may not be able to continue as a “going concern” if it… Continue reading Lordstown Motors evaluates strategic partners in funding search