The shorter charging time with battery swapping also increases the up time for EVs bought for commercial use, thus helping buyers sooner achieve a break-even. The electric vehicle (EV) industry will get a big push, especially on the public transport front with the formulation of a Battery Swapping Policy that Finance Minister Nirmala Sitharaman announced… Continue reading Battery swapping policy will boost adoption of EVs, especially for public transport and goods mobility
Author: Economic Times of India Online News
Budget 2022 Auto: Cheers for EVs with battery swapping policy but cars, scooters won’t get cheaper
The Indian automotive sector had multiple expectations from the Budget 2022 speech by the Finance Minister (FM) Nirmala Sitharaman today but at the end of the day there wasn’t much to be happy about for the complete sector. There was one big direct announcement in the form of a new battery swapping policy that will… Continue reading Budget 2022 Auto: Cheers for EVs with battery swapping policy but cars, scooters won’t get cheaper
China Evergrande targets restructuring proposal within six months as state tightens control
HONG KONG:China Evergrande Group said on Wednesday it aims to have a preliminary restructuring proposal in place within six months as the debt-laden developer scrambles to reassure creditors spooked by defaults since its finances began to unravel last year. The long-awaited communication came against the backdrop of Beijing tightening control over the property developer, while… Continue reading China Evergrande targets restructuring proposal within six months as state tightens control
Volkswagen CEO in quarantine with COVID-19
Volkswagen’s CEO Herbert Diess BERLIN: Volkswagen Chief Executive Herbert Diess has contracted the coronavirus and is currently in quarantine, the German carmaker said on Wednesday. A spokesperson confirmed that the 63-year-old had been infected, as initially reported by Business Insider. Diess had already received a booster vaccination, which means he can leave quarantine after seven… Continue reading Volkswagen CEO in quarantine with COVID-19
UK needs law for self-driving cars, government body says
Once a self-driving system is engaged, “the person in the driving seat would no longer be responsible for how the car drives,” the law commissions proposed in the report. By Nick Carey LONDON: Britain should pass a law regulating self-driving vehicles and include sanctions for companies if anything goes wrong when their vehicles take over… Continue reading UK needs law for self-driving cars, government body says
Baidu’s electric vehicle arm Jidu raises $400 mln in new funding round
Jidu, launched a year ago, is Baidu’s latest effort to leverage its artificial intelligence expertise for car-making. BEIJING: Baidu‘s electric vehicle (EV) arm Jidu Auto said on Wednesday that it had raised nearly $400 million from Baidu and Zhejiang Geely Holding Group in a fresh funding round. Jidu, an EV venture between China’s search engine… Continue reading Baidu’s electric vehicle arm Jidu raises $400 mln in new funding round
Chinese automaker Changan to list EV unit around 2025 – China Securities Journal
Changan, based in the southwestern city of Chongqing, holds 48.95% of the unit, which makes entry-level and mass-market electric vehicles. SHANGHAI: Chinese state-run automaker Chongqing Changan Automobile plans to list its electric vehicle (EV) unit around 2025, the China Securities Journal said on Tuesday. The unit completed fundraising round B on Monday, said the paper,… Continue reading Chinese automaker Changan to list EV unit around 2025 – China Securities Journal
EVs are fast winning over the hesitant buyer
India has been quite forward looking on EVs. A comprehensive range of incentives and tax breaks are in place for the promotion of the use of EVs. Electric vehicles (EVs), after many years of scepticism, have finally arrived globally. In Europe, the sales of EVs overtook the sales of diesel vehicles in 2021 with a… Continue reading EVs are fast winning over the hesitant buyer
Premium auto dealership chain Landmark files papers for Rs 762 crore IPO
The IPO also includes a reservation for subscription by eligible employees. Proceeds from its fresh issuance worth Rs 120 crore will be utilised for payment of debt and general corporate purposes. New Delhi: Automobile dealership chain Landmark Cars Ltd has filed preliminary prospectus with capital markets regulator Sebi to raise Rs 762 crore through an… Continue reading Premium auto dealership chain Landmark files papers for Rs 762 crore IPO
L&T Technology Services bags USD 45 million deal from US-based automotive company
Chennai: L&T Technology Services (LTTS) said it had been awarded a deal during the third quarter worth USD45 million from a US-based automotive company while announcing its quarterly results on Tuesday. The company said it is set to be its customer’s strategic engineering partner and provide services for its electric vehicle (EV) product portfolio. In… Continue reading L&T Technology Services bags USD 45 million deal from US-based automotive company