Page 72 - Electric Vehicles

Mahindra to invest Rs 3,000 cr on electric vehicle business in next 3 years

Mahindra & Mahindra Ltd will put in fresh investments to the tune of Rs 3,000 crore on its electric vehicles business in the next three years, while it looks for more alliances and partnerships in the vertical, according to a top company official. M&M is working on developing on an EV platform by combining capabilities of its operations across the globe, including Detroit and Italy. "So, for EVs we are going to invest Rs 3,000 crore additional to what we have talked about," Mahindra Group Managing Director and CEO Anish Shah told PTI. Mahindra & Mahindra Ltd had earlier said it was investing Rs 9,000 crore in auto and farm sectors in the next five years. The company, which has set a goal of putting 5 lakh electric vehicles on Indian roads by 2025, has already invested Rs 1,700 crore in the EV business in India with another Rs 500 crore on a new research and development (R&D) centre. While it has already opened its electric technologies plant in Bengaluru that produces .

EV start-ups feel the spark of recovery, kick-start post-pandemic biz plans

Overall, the past year has forced the EV industry to think differently in terms of so­u­rcing components

A soaring flight plan: Bird Group eyes Air India's ground handling arm

The promoter-brothers, distant cousins to IndiGo's Rahul Bhatia, are eyeing Air India's ground handling subsidiary to augment their aviation services business even as they make a big play in EVs

Hyundai plays catch up in EV market with car that can cook dinner

It's part of a push by Hyundai to appeal to a younger audience as it plays catch-up in the EV market

Ola Electric names Hyundai veteran Yongsung Kim as global sales head

With 35 years at Hyundai Motor and Kia, Yongsung brings global auto sales experience from North America, Europe, UK, Middle East, Africa, ASEAN and Asia Pacific

BS READS: Why EVs can be only slightly cleaner than petrol cars in India

Given India's reliance on coal, electric vehicles could at best be 10% more efficient than petrol in terms of CO2 savings, show BS calculations. Petrol cars more environment-friendly in some states

Karnataka CM B S Yediyurappa assures support to Triton Electric Vehicle

Chief Minister B S Yediyurappa said his government was keen on supporting new age firms in Karnataka and assured to provide all necessary assistance

Flipkart partners with Mahindra Logistics to accelerate use of EVs

Walmart-owned Flipkart, in partnership with Mahindra Logistics, will deploy over 25,000 EVs in the fleet by 2030, according to a regulatory filing

ReadyAssist plans to provide EV assistance across 5,000 locations in India

Start-up roadside assistance firm ReadyAssist on Monday said it plans to provide its service to electric vehicles (EV) across 5,000 locations in India.

Enigma Auto looks to seal deal with Bengaluru firm to supply 2,000 EVs

Bhopal-based bootstrap EV start-up Enigma Automobiles is looking to seal a sales deal with a Bengaluru-based B2B company to supply 2,000 vehicles.

Hero Electric aims to train 20,000 roadside mechanics to deal with EVs

Hero Electric aims to train over 20,000 roadside mechanics across the country over the next three years to deal with any issue its customers might face as part of plans to instill confidence in buyers

EV scooter-maker Ather Energy aims to treble capacity by end of next fiscal

Ather has invested Rs 130 crore in the plant so far, and Rs 650 crore since the launch of the company in 2013

TeamLease estimates EV charging stations to create 10,000-12,000 jobs

At least four metros and four cosmopolitan cities are likely to have 60 charging stations each in the first phase, says manpower consulting firm

Volkswagen or Voltswagen? You choose

The VW joke, for whatever it was worth, still does not detract from the growing importance of electric vehicles in the world of tomorrow

Biden's $2-trn proposal: $174 bn for EVs, new funds for clean power

What Biden lays out Wednesday is just the first part of his long-term economic program, with a second round of initiatives to be announced in mid-April

China's Xiaomi to invest $10 billion in new EV unit over 10 years

China's Xiaomi announced plans to invest $10 billion in a new smart EV business, and separately to release a self-developed computing chip, as the group expanded out of its core smartphone business

Volkswagen confirms it will rebrand its US unit as 'Voltswagen'

The revised name takes effect in May and the announcement came after several outlets on Monday reported on a draft release mistakenly posted on the automaker's US website.

China's Xiaomi announces smart EV business, to invest $10 bn over 10 years

Chinese smartphone maker Xiaomi Corp has formally entered the automotive industry with a new smart electric vehicle (EV) business, the company announced on Tuesday in a filing

With ID.4, Volkswagen has electric SUV that whispers, not shouts

Capable, well-equipped and nice-looking, VW's entry into the growing field of electrified utility vehicles will fit in with a lot of families

Buffett-backed Chinese electric vehicle maker BYD profit up 162% in 2020

The firm on Monday reported a 162% growth in 2020 net profit