Friday, July 19

Tag: electric vehicle

BYD beating Tesla in EV Game
Automobile

BYD beating Tesla in EV Game

New York, 23rd March 2024: BYD is making significant strides in overtaking Tesla as the leading battery-electric vehicle producer globally. Following another upgrade, Wall Street is showing interest as the stock price of BYD saw an increase on Monday. In November, the Chinese EV manufacturer reported delivering over 301,000 passenger vehicles, marking a 31% year-over-year growth. Of these, over 170,000 were all-battery electric vehicles (BEVs), showing an almost 50% increase from the previous year. Additionally, BYD also delivered approximately 131,000 plug-in hybrid vehicles. During the first two months of the fourth quarter, BYD recorded almost 336,000 BEV deliveries, marking a 55% increase compared to the previous year. With this growth trajectory, BYD is on track to delive...
Motherson’s Wiring Open its Plant in UAE
MIDDLE EAST

Motherson’s Wiring Open its Plant in UAE

His Highness Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah, formally inaugurated Motherson’s Wiring facility in the Emirate of Ras Al Khaimah (UAE). The facility is located in Ras Al Khaimah Economic Zone (RAKEZ). Also present at the ceremony were Mr. Vivek Chaand Sehgal, Chairman, Motherson, and Sheikh Mohammed bin Humaid Al Qasimi, RAKEZ Managing Director, along with officials from other local government entities. H.H. Sheikh Saud bin Saqr Al Qasimi said, “In Ras Al Khaimah, we have an integrated strategy to diversify the economy and achieve balanced growth across all sectors in a manner that ensures the sustainable development of our Emirate and adherence to our national objectives. This strategy lends great flexibility to the&n...
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...
The Future of Australia’s Lithium Supplies
BLOGS

The Future of Australia’s Lithium Supplies

MELBOURNE, Australia, Jan. 06, 2023: Beginning lithium mining in 1983, Western Australia is now famously home to the largest lithium mine in the world. Over the years, as lithium has become a more valuable, in-demand metal, Australia has risen to the task of being the primary lithium supplier around the globe. But consumers are increasingly wondering whether there's a sustainable path forward for the lithium mining industry - It Matters to You, provider of auto recycling and cash for cars Melbourne-wide, reveals what the future may look like for the Australian lithium mining industry. Greenbushes, located just outside of Perth, Western Australia, currently supplies around 40 percent of Australia's lithium output - altogether, Australia produces approximately 50 percent of the world's l...
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...
Okinawa discontinues lead-acid battery scooters to sell lithium-ion Version
Automobile

Okinawa discontinues lead-acid battery scooters to sell lithium-ion Version

New Delhi, Dec 10, 2020: Electric two-wheeler maker Okinawa discontinued the sale of lead-acid battery-based scooters and will be focusing on the lithium-ion versions only. The startup started its journey in the country with the lead-acid scooter Okinawa Ridge and had later introduced four lead-acid scooters in three years. Gradually, the brand moved on to the lithium-ion detachable battery-equipped e-scooter versions, which received overwhelming response due to better technology and addressed the charging problem of the users. "We are shifting to 100 per cent lithium-ion battery pack based two-wheelers. When we launched the brand, lead acid was the most advanced option available in the market. Now, with rigorous growth of the industry and the brand, we have taken a step ahead an...
Echo3: An EV Company that Brings Electric Vehicles Within Reach of the Masses
Automobile

Echo3: An EV Company that Brings Electric Vehicles Within Reach of the Masses

DENVER, June 29, 2020 -- Echo3, the electric automobile company, is bringing electric vehicles to the masses much in the way Henry Ford's Model T did from 1908 to 1927. The First Model T became available in October 1908. The Model T is the 3rd most selling automobile of all time selling 16.5 million automobiles primarily for two reasons, affordability, and new technology. The Model T touring sedan cost $825 in 1908 or about $22,991.85. The $825 price tag made the Model T within reach of middle class Americans. The turn of the century saw the country fascinated with new technology and the Model T brought the technology coast to coast.  Fast forward to 2020 and Denver-based Echo3 Energy is responding to the need for...
Kia, Hyundai and LG Chem join hands to invest in EV Startups
Automobile

Kia, Hyundai and LG Chem join hands to invest in EV Startups

New Delhi, June 23, 2020: South Korean automakers Hyundai Motor Company and Kia Motors Corporation, along with LG Chem announced a global competition to identify up to 10 electric vehicle and battery startups for potential investment and collaboration. New Energy Nexus, the international startup support organization, will manage and facilitate the competition ''EV & Battery Challenge (EVBC)'' the companies said in a joint statement. The chosen startups will have the opportunity to work hand-in-hand with Hyundai, Kia, and LG Chem, to develop proof-of-concept projects while leveraging the sponsors'' technical expertise, resources and laboratories, they added. "The global competition offers startups the opportunity to showcase their respective innovative technologies and unique ...
EV Growth in India up 20 Percent in FY20
Automobile

EV Growth in India up 20 Percent in FY20

Electric vehicle sales, excluding e-rickshaws, in India grew by 20 percent at 1.56 lakh units in 2019-20 driven by two-wheelers, a report by Society of Manufacturers of Electric Vehicles (SMEV) said on Monday. In 2018-19, total EV sales in India stood at 1.3 lakh units, SMEV said in a statement. Out of the total sales in FY20, 1.52 lakh units were two-wheelers, 3,400 cars and 600 buses. The corresponding sale for the 2018-19 was 1.26 two-wheelers, 3,600 cars and around 400 buses, it added. "This figure does not include e-rickshaws which is still largely with the unorganized sector with a reported sale of around 90,000 units. The corresponding figures of the e-ricks sold in the previous year have not been documented," SMEV said. SMEV said the growth of EV sales in India was dri...
Hyundai and Kia Invest $110 Million in Electric Vehicle Startup
Automobile, FUNDING

Hyundai and Kia Invest $110 Million in Electric Vehicle Startup

SEOUL, South Korea, Jan. 16, 2020 -- Hyundai Motor Company and Kia Motors Corporation invest USD $110 million in a new partnership with Arrival, a UK-based electric vehicle startup. Through the partnership, Hyundai and Kia plan to introduce competitively priced small and medium-sized electric vans and other products for logistics, on-demand ride-hailing and shuttle service companies. Arrival's scalable electric platform can be adapted for multiple vehicle categories and types which Arrival, Hyundai and Kia will explore for the development of a range of Purpose Built Vehicles (PBV). The partnership with Arrival will help Hyundai and Kia meet the rapidly growing demand in Europe for eco-friendly commercial vehicles, and accelerate the brands' transformation from car mak...
Ratan Tata to Invest in Tork Motors
FUNDING

Ratan Tata to Invest in Tork Motors

Electric vehicle startup Tork Motors said Ratan Tata has decided to invest an undisclosed amount in the company. Previously, the Pune-based company has raised funds from Bharat Forge and Bhavish Aggarwal (Founder of Ola cabs). "In the last few years, there has been a sea of changes in the attitude towards electric vehicles. This industry is changing rapidly and I place good value on the sound logic and the approach that the team at Tork Motors has taken," Tata Sons Chairman Emeritus Ratan Tata said in a statement. Tork Motors is gearing up to launch its flagship electric motorcycle in the next few months. "An investment by him is an endorsement of the long-held belief by us that the Indian auto sector is going through a phase of huge growth and transformation," Tork Motors Fou...
Indian Singer Sukhbir Singh Investing in Electric Vehicle company eBikeGo
FUNDING

Indian Singer Sukhbir Singh Investing in Electric Vehicle company eBikeGo

August 27, 2019: Indian Singer Sukhbir Singh has selected eBikeGo for his second investment in India, after investing in LQI as his first angel investment in India.  Amritsar based Mobility startup, eBikeGo is in the process of raising funds and it will deploy these funds to expand its operations to other cities in India as well as for increasing their fleet in Delhi. eBikeGo is India's first ever electric two wheeler rental platform that provides economical and environmentally friendly travelling option for everyone. Founded in the year 2017 by Dr. Irfan Khan, they first started their operations in Amritsar with Okinawa scooters and then expanded to Delhi, Jaipur and Ludhiana. eBikeGo is bootstrap startup and has raised their initial investment from friends and family. eBikeGo i...