Electric commercial vehicle manufacturer, PMI Electro Mobility, has signed a Memorandum of Understanding (MoU) with REC Limited (formerly Rural Electrification Corporation), a public-sector enterprise and a pioneer in providing financial assistance for power sector development. The signing ceremony took place during the “Green Finance” Summit organised by REC Limited on the side-lines of the Clean… Continue reading PMI inks MoU with REC for Rs 480 crore
Category: US Motoring Press
PMI inks MoU with REC for Rs 480 crore
Electric commercial vehicle manufacturer, PMI Electro Mobility, has signed a Memorandum of Understanding (MoU) with REC Limited (formerly Rural Electrification Corporation), a public-sector enterprise and a pioneer in providing financial assistance for power sector development. The signing ceremony took place during the “Green Finance” Summit organised by REC Limited on the side-lines of the Clean… Continue reading PMI inks MoU with REC for Rs 480 crore
PMI inks MoU with REC for Rs 480 crore
Electric commercial vehicle manufacturer, PMI Electro Mobility, has signed a Memorandum of Understanding (MoU) with REC Limited (formerly Rural Electrification Corporation), a public-sector enterprise and a pioneer in providing financial assistance for power sector development. The signing ceremony took place during the “Green Finance” Summit organised by REC Limited on the side-lines of the Clean… Continue reading PMI inks MoU with REC for Rs 480 crore
Range Rover Velar facelift launched at Rs 93 lakh
Land Rover has launched the Range Rover Velar facelift at Rs 93 lakh (ex-showroom, India). The new Velar is available in a single HSE trim with a choice of two powertrains. While Land Rover opened bookings for the Velar facelift last week, deliveries will begin in September. Compared to the outgoing model, the facelift is Rs 3.59 lakhs… Continue reading Range Rover Velar facelift launched at Rs 93 lakh
Range Rover Velar facelift launched at Rs 93 lakh
Land Rover has launched the Range Rover Velar facelift at Rs 93 lakh (ex-showroom, India). The new Velar is available in a single HSE trim with a choice of two powertrains. While Land Rover opened bookings for the Velar facelift last week, deliveries will begin in September. Compared to the outgoing model, the facelift is Rs 3.59 lakhs… Continue reading Range Rover Velar facelift launched at Rs 93 lakh
Tesla to discuss factory plan for new US $24,000 car with India’s Commerce Minister: Report
Tesla representatives are slated to meet India’s Commerce Minister this month, to talk about plans to build a factory to manufacture what it has called an all new US $ 24,000 car, a source informed Reuters. Tesla has evinced interest in building a factory in India that would produce low-cost electric vehicles (EVs) for the… Continue reading Tesla to discuss factory plan for new US $24,000 car with India’s Commerce Minister: Report
Mahindra Logistics posts Rs 8.30 crore net loss on 97% YoY decline in supply-chain-management segmental profit
Mahindra Logistics, an integrated logistics and mobility solutions provider for the automotive and other industries, reported a net loss of Rs 8.30 crore in Q1 FY24. This was due to a steep 97% dyear on year ecline in the company’s supply chain management (SCM) segmental profit. The SCM segment, which constitutes more than 94% of… Continue reading Mahindra Logistics posts Rs 8.30 crore net loss on 97% YoY decline in supply-chain-management segmental profit
GreenCell Mobility secures Rs 3,000 crore debt funding from REC, for sustainable transportation services
GreenCell Mobility, a pan-India shared electric mobility player, has signed a Memorandum of Understanding (MoU) with REC, a Maharatna Central Public-sector enterprise, for a commitment of Rs 3,000 crore, for sustainable transportation in the country. Rural Electrification Fund will offer crucial financial assistance in the form of debt funding to support the company’s projects. The… Continue reading GreenCell Mobility secures Rs 3,000 crore debt funding from REC, for sustainable transportation services
Several EV makers may be forced to file for bankruptcy post imposition of FAME II penalties
Amid rising challenges on the FAME-II subsidy and its resultant violations and penalty, multiple electric vehicle companies may be forced to file for bankruptcy. As the deadline for penalties looms, three out of the seven OEMs Hero Electric, Benling Motors and Ammo Mobility, have requested the Prime Minister’s Office (PMO) to press the Ministry of… Continue reading Several EV makers may be forced to file for bankruptcy post imposition of FAME II penalties
Several EV makers may be forced to file for bankruptcy post imposition of FAME II penalties
Amid rising challenges on the FAME-II subsidy and its resultant violations and penalty, multiple electric vehicle companies may be forced to file for bankruptcy. As the deadline for penalties looms, three out of the seven OEMs Hero Electric, Benling Motors and Ammo Mobility, have requested the Prime Minister’s Office (PMO) to press the Ministry of… Continue reading Several EV makers may be forced to file for bankruptcy post imposition of FAME II penalties