By Joshua Franklin and Anirban SenLuxury electric vehicle maker Lucid Motors Inc is getting close to a deal to go public at a roughly $12-billion valuation after veteran dealmaker Michael Klein’s blank-check acquisition firm launched a financing effort to back the transaction, people familiar with the matter said on Tuesday. The merger between Lucid and… Continue reading Lucid Motors nears SPAC deal as Klein launches financing
Author: Economic Times of India Online News
Ampere Electric to invest INR 700 crore in EV manufacturing plant in Tamil Nadu
New Delhi: Ampere Electric, the wholly-owned electric mobility subsidiary of Greaves Cotton Ltd, on Tuesday announced a phased investment potential of INR 700 crore over 10 years to set up an e-mobility manufacturing plant in Ranipet, Tamil Nadu. The company signed a Memorandum of Understanding (MoU) with Tamil Nadu for the proposed Ranipet manufacturing plant… Continue reading Ampere Electric to invest INR 700 crore in EV manufacturing plant in Tamil Nadu
Union Budget sets pace for Aatmanirbhar Bharat: FM
Finance Minister Nirmala Sitharaman on Saturday said the Union Budget 2021-122 has set the pace for India to become Aatmanirbhar. Replying to debate on the Budget in Lok Sabha, the minister also said the challenges of pandemic did not deter government from undertaking reforms for maintaining long term goals of the country. The reforms undertaken… Continue reading Union Budget sets pace for Aatmanirbhar Bharat: FM
Potential for 5,000 bio CNG manufacturing units in India: Nitin Gadkari
New Delhi: Pitching for promoting clean fuel in India, Union Minister Nitin Gadkari on Friday said there is a potential for setting up at least 5,000 bio CNG manufacturing units in India. Launching India’s first-ever diesel tractor, converted to CNG and registered in his name, Road Transport, Highways and MSMEs Minister Nitin Gadkari also said… Continue reading Potential for 5,000 bio CNG manufacturing units in India: Nitin Gadkari
CNG-based tractors can bring down annual fuel costs by around 55%: Nitin Gadkari
Road Transport and Highways Minister Nitin Gadkari New Delhi: Tractors running on bio-CNG could help cut down annual fuel cost for a user by around 55%, union transport minister Nitin Gadkari said on Friday. Gadkari was speaking at the launch of India’s first CNG tractor here. “This tractor results in a direct saving of 55%… Continue reading CNG-based tractors can bring down annual fuel costs by around 55%: Nitin Gadkari
Electric vehicles force carmakers to reinvent the wheel, and brakes, and mirrors
NEW DELHI: Taking a cue from its Swedish colleagues at Volvo and the pragmatic views of automotive product planners worldwide, General Motors roiled the international automobile industry last week by proclaiming that all its cars will go pure electric by 2035. The pronouncement is likely to apply more pressure on more automakers, both in the… Continue reading Electric vehicles force carmakers to reinvent the wheel, and brakes, and mirrors
Tata Motors appoints Marc Llistosella as CEO & MD
New Delhi: Tata Motors Limited has announced Marc Llistosella as the new chief executive officer and managing director of the company effective July 1, 2021. He will take over from the current incumbent Guenter Butschek, who has preferred to relocate to Germany, his native place. The Tata Group chairman N Chandrasekaran, who is also the… Continue reading Tata Motors appoints Marc Llistosella as CEO & MD
Court won’t delay extradition of 2 nabbed in Ghosn’s escape
BOSTON: A U.S. appeals court refused Thursday to put on hold the extradition of two men wanted by Japan on accusations that they helped smuggle former Nissan boss Carlos Ghosn out of the country in a box in 2019. The Boston-based 1st U.S. Circuit Court of Appeals rejected an emergency petition to halt Michael and… Continue reading Court won’t delay extradition of 2 nabbed in Ghosn’s escape
UK economy suffers biggest drop since 1709
LONDON: The British economy suffered its biggest decline in more than 300 years in 2020 as the coronavirus pandemic closed shops and restaurants, devastated the travel industry and curtailed manufacturing. The economy shrank 9.9% last year, more than twice the figure for 2009 at the height of the global financial crisis, the Office for National… Continue reading UK economy suffers biggest drop since 1709
Trade Promotion Council of India seeks incentives for SEZs in next foreign trade policy
NEW DELHI: The Trade Promotion Council of India (TPCI) on Friday suggested the commerce ministry to announce measures such as incentives for special economic zones (SEZs) in the next foreign trade policy (FTP) with a view to boost the country’s exports. FTP (2020-25) is under formulation by the ministry. SEZs contribute significantly to exports and… Continue reading Trade Promotion Council of India seeks incentives for SEZs in next foreign trade policy