Page 57 - Electric Vehicles

M&M draws aggressive 6-year plan for auto and farm equipment segments

Plans to launch 13 new SUVs by 2027, including eight EVs. By then it also sees at least 20% of total SUV volumes coming from EVs

Mahindra & Mahindra plans to launch 16 EV models by 2027

Homegrown auto major Mahindra & Mahindra on Tuesday said it plans to launch 16 electric vehicles (EVs) by 2027 across SUV and light commercial vehicle categories to strengthen its leadership position in India's electric mobility segment. The company, which has set a cumulative revenue growth target of 15-20 per cent by 2025, is keeping its options open to either bring in private equity investors or carve out its EV business into a separate entity to drive its growth. M&M, which has already announced plans to invest Rs 3,000 crore in EVs, is also considering a new brand name for the electric SUVs that it will launch by 2027. "In SUV, we are looking at 13 new launches by 2027 of which eight will be electric. We think by 2027 we'll be ready for at least 20 per cent of the total UV (utility vehicles) volumes coming from electric vehicles," M&M Executive Director Rajesh Jejurikar told reporters in a virtual earnings conference. Four of the new electric SUVs are expected between

Oil PSUs to set up 22,000 EV charging stations in the next 3-5 years

IOC, the country's largest state-controlled refiner by capacity, will set up EV charging facilities at 10,000 fuel outlets over the next three years, Chairman Shrikant Madhav Vaidya said

M&M sees chip crunch easing in 2022, eyes options for EV business

The automaker also said with better availability of semiconductors, it hopes to maintain volume growth momentum from the third quarter onwards

Battery Smart raises $7 million in pre-Series A funding round

EV battery swapping network Battery Smart on Tuesday said it has raised USD 7 million (around Rs 52 crore) in a pre-Series A round from a clutch of investors of Blume Ventures and Orios Ventures. The fresh capital will be deployed for strengthening the startup's battery assignment technology, scale its operations to service 10,000 electric vehicles daily, and expand to three new states by this fiscal, a release said. The other investors who participated in the pre-Series A round include Green Frontier Capital, Baring Private Equity India, and angel investors such as Srinivas Anumolu (Founder - Elance, TutorVista, Bigbasket, Bluestone), K Ganesh (Serial Entrepreneur & Partner - GrowthStory.in), Niraj Singh, (Founder and CEO - Spinny), and Amit Bhasin (Co-Founder - GoMechanic), it said. Besides, alternative debt platform TradeCred, India's leading alternative debt also participated as a debt partner with Rs 24 crore investment, the startup said in a release. Co-founded by serial ...

Installation of electric vehicle charger will cost Delhi residents Rs 2,500

Delhi Transport Minister Kailash Gahlot made the announcement

7% vehicles purchased since 2020 in Delhi electric, says Gahlot

Of the total vehicles purchased in the national capital since the introduction of the EV policy in 2020, around 7 per cent are EVs, Delhi Transport Minister Kailash Gahlot said on Monday.

Samvat 2078: Demand to fuel supply crunch-driven rally in metals, crude oil

Auto manufacturing getting a big push from EVs, and global air traffic normalising are also likely to be major contributors on the demand side for metals and crude oil

Indian Oil to set up 10,000 EV charging stations in next three years

Announcement follows PM Narendra Modi's goal for India to be net zero by 2070; green hydrogen to also be a part of IOC's soon-to-be-revealed new zero plan

IOC to set up 10,000 EV charging stations in next 3 years: Chairman

Prime Minister Narendra Modi on Monday made a bold pledge to cutting emissions at the world's third-biggest emitter to net-zero by 2070

'Super-committed' to the India market: Intel India MD Prakash Mallya

What will be Intel's strategy as more Indian players enter manufacturing with the PLI scheme? Prakash Mallya, Intel India's VP & MD answers this and other questions in this exclusive interview

BMW offsets lower deliveries with higher prices, strong EV sales

Electric vehicles in particular saw a significant boost, with sales in the nine months to September almost double last year's levels at just under 232,000 vehicles

From conventional fuel to EVs, RIL-bp pumps up the mobility stakes

According to RIL-bp, these new Jio-bp mobility stations will bring together a range of services for consumers

EV startup Rivian could be worth nearly as much as Honda in U.S. IPO

The startup is looking to raise up to $8.4 billion, setting it up to be the third-largest initial public offering (IPO) by funds raised in the past decade in the United States.

Odisha announces full tax exemption for EVs, registration fee waiver

The exemption, granted under the Odisha Motor Vehicles Taxation Act, is applicable till 2025

Piaggio, Jio-bp in talks with e-commerce players for EV infrastructure

Diego Graffi, chairman and managing director of Piaggio Vehicles, says the tie-up will provide vehicles and infrastructure to these firms

Registration of electric vehicles picking up pace in Delhi: Officials

Adoption of electric vehicles is picking up pace in Delhi with the count of such vehicles surpassing the total number of registrations of CNG and hybrid-fuel vehicles in the city in the recent months

TVS takes slow and steady route for its newly created subsidiary for EVs

Last week, TVS' board also clear­ed a proposal to establish a separate subsidiary for the electric vehicle business (the name is yet to be announced)

Ford Motor bucks trend, doubles Street's earnings expectations

Ford shares rose as high as $17.17 in early trading Thursday after closing Wednesday at $15.51

Tata Motors developing range of small electric commercial vehicles

The auto major on Thursday unveiled 21 new commercial vehicles, including trucks, buses and small commercial vehicles