Manuj Khurana lobbied the Indian government for more than a year to slash the import tax on electric cars to 40% from as high as 100%. A key executive who was leading Tesla’s lobbying effort in India has resigned, weeks after the U.S. carmaker put on hold plans to sell electric cars in the South… Continue reading Tesla India policy executive quits after company puts entry plan on hold: Sources
Author: Economic Times of India Online News
Profitability for NBFCs may remain stable despite squeeze in margin
Consequently, their gross spread — the difference between lending rate and borrowing cost — will compress 40-60 bps this fiscal. Borrowing costs for non-banking financial companies (NBFCs) are seen rising 85-105 basis points (bps) this fiscal. However, overall profitability is expected to remain steady cushioned by a reduction in credit costs, Crisil Ratings said. “Last… Continue reading Profitability for NBFCs may remain stable despite squeeze in margin
BECIL writes to BESCOM on ‘shortcomings’ in EV tender
The Broadcast Engineering Consultants India Limited (BECIL), a Government of India Public Sector Undertaking engaged in the creation of EV Charging Infrastructure in the country, has written to the Bangalore Electricity Supply Company Limited (BESCOM) highlighting shortcomings in the tender for setting up EV charging station at government-owned locations in Bengaluru urban district under BESCOM… Continue reading BECIL writes to BESCOM on ‘shortcomings’ in EV tender
Maharashtra: Pay INR 760 for 2-wheelers, INR 1,020 for cars lifted from no-parking areas
NAGPUR: The Nagpur Municipal Corporation (NMC) and traffic police department will resume lifting of two-wheelers, and towing of four-wheelers from no-parking zones from Tuesday. High charges of INR 760 will be recovered from motorcyclists and INR 1,020 for four-wheelers. Municipal commissioner Radhakrishnan B told TOI, “NMC floated tender and appointed private operator as per request… Continue reading Maharashtra: Pay INR 760 for 2-wheelers, INR 1,020 for cars lifted from no-parking areas
Honda establishes a second biz venture of Ignition, Striemo Inc.
Striemo, an electric micro-mobility product New Delhi: Honda Motor Co., Ltd. today announced the establishment of Striemo Inc., the second business venture to originate from Ignition, Honda’s new business creation program. Striemo Inc. has been developing a one-person, three-wheeled electric micro-mobility product, also named “Striemo,” which features an original balance assist mechanism that enables stable… Continue reading Honda establishes a second biz venture of Ignition, Striemo Inc.
LMC levies new tax on cabs, autos, private buses; rides likely to be costlier
LUCKNOW: The new taxes levied on commercial vehicles in the LMC budget on Monday will have a direct impact on thousands of people who take auto-rickshaws, e-rickshaws and cabs to commute. The owners of autos, tempos and e-rickshaws will have to pay INR 2,000 per year and those who own cabs will have to shell… Continue reading LMC levies new tax on cabs, autos, private buses; rides likely to be costlier
TotalEnergies to acquire 25% in Adani Ent’s arm for green hydrogen biz
Adani Ent has partnered with TotalEnergies to create the world’s largest green hydrogen ecosystem, the company said in a stock exchange filing on Tuesday. France’s TotalEnergies will be acquiring a 25% minority interest in Adani New Industries (ANIL). The company said that ANIL will develop a green hydrogen production capacity of 1 million tons per… Continue reading TotalEnergies to acquire 25% in Adani Ent’s arm for green hydrogen biz
July-September hiring outlook at 8-year high
Job creation is likely to see a strong boost in the upcoming September quarter, with employers reporting the most optimistic hiring outlook in eight years, as companies look to speed up the post-pandemic recovery process and sustain growth, despite rising inflation. According to the ManpowerGroup Employment Outlook Survey, shared exclusively with ET, about 63% of… Continue reading July-September hiring outlook at 8-year high
Striking truck drivers in South Korea snarl supply chains
A truck driver strike in South Korea has stretched into a seventh day, forcing the country’s manufacturers to scale back production and slowing traffic at its ports. On Monday, the country’s Ministry of Trade, Industry and Energy said the strike had resulted in production and shipment disruptions for automobiles, steel and petrochemicals worth 1.6 trillion… Continue reading Striking truck drivers in South Korea snarl supply chains
M&M seeks NCLT approval for merger of Mahindra Electric Mobility Ltd to itself
Mahindra & Mahindra, India’s leading utility vehicle maker is seeking approval from the National Company Law Tribunal for a merger of Mahindra Electric Mobility Ltd to itself – i.e. Mahindra & Mahindra Ltd. Seeking the tribunal’s approval for the merger – M&M explained that the value chain required for end-to-end EV (Electric Vehicles) development, manufacturing… Continue reading M&M seeks NCLT approval for merger of Mahindra Electric Mobility Ltd to itself