Chandigarh-based electric vehicle start-up EVage has got $28 million (Rs 207 crore) investment from US-based venture capital firm RedBlue Capital. EVage which is developing a modular electric vehicle platform is already supplying e-trucks to major delivery fleets such as Amazon India’s Delivery Service Partner. The funding will be used to complete EVage’s production-ready factory outside… Continue reading EVage gets $28 million funding from RedBlue Capital
Author: Autocar_Professional India Online News
Mercedes-Benz India plans local production of EQS, 2021 sales up 42 percent
Mercedes-Benz India sold 11,242 cars in 2021, a 42.5 percent jump over 2020 (2020 sales: 7893 cars). With a 41 percent market share – the luxury car maker holds on to strong lead for seven years in a row. Managing Director and CEO, Martin Schwenk made these announcements at a virtual press meeting to announce… Continue reading Mercedes-Benz India plans local production of EQS, 2021 sales up 42 percent
Altigreen partners Massive Mobility to install 25,000 EV charging stations in 2 years
Bangalore-based Altigreen, a leading manufacturer of electric three-wheelers has joined hands with Delhi-based EV charging solutions start-up Massive Mobility to install 25,000 on-demand charging stations in the next two years. Dr. Amitabh Saran, CEO, Altigreen said, “We have a long way to go in making Indian roads fully electric and, to sustain this uphill climb,… Continue reading Altigreen partners Massive Mobility to install 25,000 EV charging stations in 2 years
Exclusive: Future of Aston Martin CEO Tobias Moers in doubt
Tobias Moers’ future as CEO of Aston Martin is uncertain following this morning’s trading update warning that the firm would miss its earnings targets, Autocar UK has learned. Speculation regarding Moers’ ongoing role at the firm follows indifferent financial results for the Gaydon-based luxury car maker, which was taken over by a consortium led by billionaire Lawrence Stroll in January… Continue reading Exclusive: Future of Aston Martin CEO Tobias Moers in doubt
Tata Motors to revive 1.5-litre turbo-petrol engine plans
Tata Motors will continue to invest in IC engine vehicles, despite a massive EV push. The shelved 1.5-litre turbo-petrol engine will be revived to power a larger range of products. Two years ago, faced with a below average market performance, mounting debt and what looked like a challenging future, Tata Motors had announced that it would curtail… Continue reading Tata Motors to revive 1.5-litre turbo-petrol engine plans
David Slump succeeds Beda Bolzenius as Marelli’s new CEO
Leading global automotive supplier, Marelli has announced that following almost four years with the company, Beda Bolzenius is retiring and will stand down as CEO and president. He will be succeeded by David Slump effective immediately. Dinesh Paliwal, partner at KKR and executive chairman, Marelli said, “I want to thank Beda for his dedication and… Continue reading David Slump succeeds Beda Bolzenius as Marelli’s new CEO
Brose, Volkswagen establish JV Brose Sitech for seat systems
German Tier 1 supplier Brose and Volkswagen, one of the leading vehicle manufacturers have announced joint venture for seat systems christened ‘Brose Sitech’ goes live. Both the companies had announced their intent to establish the 50:50 stake JV in July 2020, which is headquarters in Polkowice, Poland. The JV employees more around 5,000 employees at… Continue reading Brose, Volkswagen establish JV Brose Sitech for seat systems
British EV start-up to set up Rs 250 crore plant in Telangana
British EV start-up One-Moto which is planning to launch three e-scooters – Commuta, Electa and Byka – with a starting price of Rs 120,000 in January 2022 signed an MoU with the Telangana government for setting up its India manufacturing unit. The facility is expected to come up on the outskirts of Hyderabad with a manufacturing… Continue reading British EV start-up to set up Rs 250 crore plant in Telangana
Naveen Soni takes over as President of Lexus India
Naveen Soni takes over as President of the Lexus brand at Toyota Kirloskar Motor (TKM) from January 1. He succeeds PB Venugopal who will move over to a senior role in product planning. Soni has been spearheading sales and service in his capacity as Senior Vice President through 2020 and 2021 when the pandemic caused… Continue reading Naveen Soni takes over as President of Lexus India
Reliance acquires UK-based sodium-ion battery company, to accelerate EV offering
Reliance New Energy Solar (RNES), a wholly-owned subsidiary of Reliance Industries has signed a definitive agreements to acquire 100% shareholding in UK-based Faradion, a leading company working on sodium-ion battery technology for GBP 100 million (Rs 905 crore). In addition, RNES will also invest GBP 25 million (Rs 227 crore) as growth capital to accelerate… Continue reading Reliance acquires UK-based sodium-ion battery company, to accelerate EV offering