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Ferrari Embraces Crypto: A Groundbreaking Move in Luxury Sports Car Industry
Automobile

Ferrari Embraces Crypto: A Groundbreaking Move in Luxury Sports Car Industry

NY, 15th Oct 2023: Ferrari, the esteemed Italian luxury sports car manufacturer, has recently made a revolutionary decision to accept cryptocurrency as a form of payment. Initially introduced in the United States and soon to be extended to Europe, this move was prompted by dealers and individual clients who have made significant investments in the world of crypto. Enrico Galliera, the Chief Marketing and Commercial Officer of Ferrari, expressed his enthusiasm for the company's initiative to facilitate the purchase of their luxury vehicles through digital currencies. With a strong customer base already booked for the coming years, Galliera is optimistic about this bold plan, stating, "Our aim is to connect with individuals who may not currently be our clients but have the means to affor...
Decoding the Success Story of BYD: A Case Study
Automobile

Decoding the Success Story of BYD: A Case Study

BYD, a Chinese automobile manufacturer, has risen to prominence in recent years, capturing the attention of industry experts and consumers alike. This article aims to decode the success story of BYD, examining the factors that have propelled the company's growth and success. By delving into various aspects of BYD's journey, we can gain valuable insights into the strategies and practices that have made it a formidable player in the automotive industry. Visionary Leadership One of the critical factors behind BYD's success is its visionary leadership. The company was founded in 1995 by Wang Chuanfu at age of 29. He partnered with his cousin Lu Xiangyang and established BYD Company. BYD Auto is a subsidiary of the BYD Company. BYD Auto emerged after the BYD Group acquired the Qinchua...
Future of Automobile Industry & Key Trends
Automobile

Future of Automobile Industry & Key Trends

The future of automobile industry is expected to be shaped by several key trends and developments. Here are some significant aspects that could shape the industry in the coming years: Electric Vehicles (EVs): The shift toward electric vehicles is gaining momentum. Governments around the world are setting ambitious targets to reduce carbon emissions, and automakers are investing heavily in the development of electric cars. As battery technology improves, EVs are becoming more affordable, offering longer ranges, and charging infrastructure is expanding. This trend is likely to continue, leading to increased adoption of electric vehicles. Autonomous Vehicles (AVs): Self-driving cars are another major development in the automobile industry. Companies are investing in auton...
LFP Battery: Future of Electric Vehicle
Automobile

LFP Battery: Future of Electric Vehicle

The battery manufacturing technology is rapidly evolving by the day to offer the features required to facilitate the shift to a more sustainable way of storing and using power. In this process of the development of new technologies, Lithium Iron Phosphate (LFP) is the one that is gaining popularity among consumers today. Recently, Tesla changed its battery chemistry and made a shift to LFP battery with an aim to increase vehicles efficiency and make them cheaper. Roughly speaking, affordable lithium-ion batteries typically have between 500 and 3000 life cycles. While premium Lithium Iron Phosphate LFP batteries can last anywhere from 3500 to over 4000 cycles. LFP batteries are manufactured by using lithium iron phosphate (LiFePO4) as the cathode material and a graphite carbon electr...
India’s first electric double decker AC bus unveiled by Switch Mobility
Automobile

India’s first electric double decker AC bus unveiled by Switch Mobility

Switch Mobility, the electric vehicle division of Ashok Leyland, unveiled India's first electric double decker AC bus. These buses will replace the existing double-decker fleet of the BEST (Brihanmumbai Electricity Supply and Transport) in Mumbai. As of now, Switch is operating its twin-floor electric AC buses in the UK. Switch India has already secured an order of 200 electric double-decker buses in Mumbai and is looking at a dominant space in the electric double-decker segment, across key regions in the country, the company said. "We already have an order for 200 electric double-decker AC buses in Mumbai. We will deliver 50 of these buses this financial year. Many more cities are discussing with us for these buses," Mahesh Babu, CEO Switch Mobility India and COO at Switch Mobility...
First Successful Flight of Volocopters VoloDrone
Automobile

First Successful Flight of Volocopters VoloDrone

HAMBURG, Germany, Oct. 12, 2021-- Volocopter's electric heavy-lift drone VoloDrone conducted its first public flight today at ITS World Congress 2021. Together with the international logistics leader DB Schenker, Volocopter, the pioneer of urban air mobility (UAM), demonstrated VoloDrone's seamless integration into the logistics supply chain with an end-to-end cargo transport demonstration. The partners showed their significant progress together since DB Schenker became a strategic investor of Volocopter in early 2020. The 3-minute test flight took off at 3:02 p.m and reached a maximum altitude of 22 meters. For this delivery simulation, the electric heavy-lift utility drone was equipped with a load-box in between its landing gear. First, the demonstration teams secured a Euro-pal...
Ola Sold Electric Scooters Close to $100 Million on a First day
Automobile

Ola Sold Electric Scooters Close to $100 Million on a First day

Bengaluru, India, 16th Sept 2021: India's leading cab service provider Ola said its electric vehicle subsidiary Ola Electric sold scooters worth close to $100 million on the first day of the sale of its model S1. Ola Electric had on Wednesday commenced the sale process of its electric scooter, which comes in two trims Ola S1 and S1. "India is committing to EVs and rejecting petrol! We sold 4 scooters/sec at peak & sold scooters worth 600Cr+ in a day! Today is the last day, purchase will shut at midnight," said Ola co-founder Bhavish Aggarwal in a tweet.In the blog, he wrote Noting that the company had sold scooters worth over Rs 600 crore in 24 hours, Aggarwal said: "That's more, in value terms than what the entire 2W industry sells in a day! Make no mistake, the age of EVs is h...
Mercedes Benz Ready to go all Electric, Plans for eight Gigafactories
Automobile

Mercedes Benz Ready to go all Electric, Plans for eight Gigafactories

Mercedes-Benz is getting ready to go all electric by the end of the decade, where market conditions allow. Shifting from electric-first to electric-only, the world's pre-eminent luxury car company is accelerating toward an emissions-free and software-driven future. By 2022, Mercedes-Benz will have battery electric vehicles (BEV) in all segments the company serves. From 2025 onwards, all newly launched vehicle architectures will be electric-only and customers will be able to choose an all-electric alternative for every model the company makes. Mercedes-Benz intends to manage this accelerated transformation while sticking to its profitability targets. "The EV shift is picking up speed - especially in the luxury segment, where Mercedes-Benz belongs. The tipping point is getting closer ...
Ola Electric raises $100 million long term debt
Automobile

Ola Electric raises $100 million long term debt

TN, July 12, 2021: Ola Electric and Bank of Baroda have signed the largest long-term debt financing agreement in the Indian EV industry. This 10-year debt of US$100 million is towards the funding and financial closure of the Phase 1 of the Ola Futurefactory, Ola’s global manufacturing hub for its electric two-wheelers. Ola had earlier announced last December that it will be investing Rs 2,400 crore for setting up the Phase 1 of the factory. “Today’s agreement for long term debt financing between Ola and Bank of Baroda signals the confidence of the institutional lenders in our plans to build the world’s largest two-wheeler factory in record time. We are committed to accelerating the transition to sustainable mobility and manufacture made in India EVs for the world and we are happy th...
Air taxi startup Volocopter gains key production certification in Europe
Automobile

Air taxi startup Volocopter gains key production certification in Europe

BERLIN, July 6, 2021 (Reuters) - German flying taxi startup Volocopter said it was acquiring long-time partner DG Flugzeugbau, in a step that secures its compliance with the European Union air safety regulator's production standards. The acquisition, the terms of which were not disclosed, means that Bruchsal-based Volocopter now has production organization approval in compliance with the European Union Aviation Safety Agency (EASA), in addition to the existing EASA design approval. "Volocopter is now the first and only electric vertical take-off and landing company holding both the required design and production organisation approvals to advance its aircraft towards commercial launch," it said in a statement. Volocopter hopes to bring its two-seater flying taxi, which looks like ...
Flying Taxi Platform Volocopter eyes fresh capital, SPAC an option
Automobile

Flying Taxi Platform Volocopter eyes fresh capital, SPAC an option

BERLIN, 3/22/2021: German air taxi startup Volocopter plans to raise fresh funds from investors, its Chief Executive Florian Reuter said on Thursday, adding that a deal to go public via a special purpose acquisition company was one option. Volocopter this month tapped investors led by U.S. asset manager Blackrock for 200 million euros ($239 million) in backing as it seeks certification for its battery-powered flying taxi. "We expect to need more money in the future," Reuter said in an interview. "You can expect us to continue raising money going forward." Aims to bring its VoloCity air taxi into commercial service in the next two years, in a race with startups including U.S. rival Joby which plans to go public via a $6.6 billion SPAC deal. Joby, which has partnered with Toyota...
Volvo will make only EVs by 2030; will be sold exclusively online
Automobile

Volvo will make only EVs by 2030; will be sold exclusively online

Swedish automaker Volvo says it is phasing out the production of all cars with internal combustion engines including hybrids and will make only electric vehicles by 2030. But if you want one, you'll have to buy it online. There is no long-term future for cars with an internal combustion engine, said Henrik Green, Volvo's chief technology officer. Volvo's announcement follows General Motors' pledge earlier this year to make only battery-powered vehicles by 2035. While its all-electric vehicles will be sold exclusively online, dealerships will remain a crucial part of the customer experience and will continue to be responsible for a variety of important services such as selling, preparing, delivering, and servicing cars. As part of the announcement, the Swedish automaker will un...