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Mahindra Electric in talks to supply Electric Vehicle parts

5Jun By AnkitaNo Comments

Automobile

Mahindra Electric in talks to supply Electric Vehicle parts

Mahindra Electric is in talks with global automotive manufacturers to supply electric vehicle parts. The company, a part of the Mahindra Group, will start supplies of such electric vehicle parts to group firm Ssangyong Motor, by early 2021. "Mahindra is investing on aggregates (for electric vehicles) which is the battery packs, motor transmission and power electronics. It is an industry at a very nascent stage, we have already said we will be happy to supply those parts to anybody, any original equipment manufacturer (OEM) in India or abroad," Mahindra Electric CEO Mahesh Babu said. The group has announced Rs 1,000 crore investment in the next three years, increasing the capacity to over 70,000 units per annum from the current 15,000 units. Moreover, it is also setting up a s...

The EV Era: 25% Indian Vehicles to Turn Electric by 2023

28Nov By Gauri SinghNo Comments

Story

The EV Era: 25% Indian Vehicles to Turn Electric by 2023

Electric vehicles have been getting a lot of hype in recent times, majorly because of the increasing pollution problems. An electric vehicle also called an EV, first came into existence in the mid-19th century, when electricity was among the preferred methods for motor vehicle propulsion. Later in the 21st century, EVs saw a resurgence due to technological developments, and an increased focus on renewable energy. Government incentives to increase adoptions were introduced, including in the United States and the European Union. Now, in a bid to combat air pollution, the Delhi government has drafted a policy and proposed to make 25 percent of all vehicles to be electric by 2023. The draft named 'Delhi Electric Vehicle Policy 2018' has been released by the Aam Aadmi Party (AAP)-led Delh...

General Motors to Foray into the Electric Vehicle Segment

3Nov By Gauri SinghNo Comments

Automobile, BUSINESS

General Motors to Foray into the Electric Vehicle Segment

The popular automobile company General Motors (GM) is planning to enter the electric motor segment and for this, the company has decided to launch two new electric bikes to market next year. One of the two bikes will be folding and the other one will be compact. General Motors is making a broader push into electrification and other ideas that try to move beyond its traditional business model of producing and selling gas-power vehicles. Hannah Parish, director of General Motors Urban Mobility Solutions did not reveal much about the company’s plans to launch a bike-sharing service as a result of these two new products. “I can’t say anything is on or off the table at this point,” she stated. “We know that people who live in urban areas, like myself in downtown Toronto need different o...

25Oct By Gauri SinghNo Comments

CHINA

Tesla to Start Model 3 Manufacturing in China from Next Year

The EV giant Tesla is reportedly expecting to extend its earnings streak by bringing its new Model 3 to customers beyond North America. The company’s plan includes accelerating its manufacturing plans in China. Tesla witnessed its revenue increase aggressively to $6.8 billion in the third quarter (and a $312 million profit) after the sales of its new Model 3 vehicle. The company was able to achieve that profitability milestone just through sales in the U.S. and Canada. The company mentioned that it would start to take orders for the Model 3 in Europe and China before the end of 2018. Also, it will begin deliveries of the Model 3 to Europe early next year. “We are aiming to bring portions of Model 3 production to China during 2019 and to progressively increase the level of localizati...

8Oct By Gauri SinghNo Comments

CHINA

China’s EV Startup WM Motor Commences Delivery

China’s EV company WM Motor has started volume delivery of its first model, the EX5 SUV marking its first entry into the country's booming new energy vehicles space. The company has been backed by internet giant Tencent and was established in 2015. It has a plant capable of producing 200,000 vehicles in Wenzhou, Zhejiang province. "This is a milestone for WM Motor, and the first step in our long journey ahead," said the company's chairman and CEO Freeman Shen. The company claims to be the first startup in China and even globally to deliver on time. It stated that they planned three years ago to deliver their vehicles in September 2018, and made it. WM Motor had received more than 4,000 orders as of now and expects to deliver at least 10,000 vehicles this year. It is available in th...

8Sep By Gauri SinghNo Comments

INDIA

Narendra Modi Soon to Launch Policy to Boost E-mobility in India

With the emerging market of electric vehicles all across the world, Indian Prime Minister Narendra Modi has also taken a step forward for the promotion of electric vehicles in the country. The Prime Minister on Friday stated that the government is soon going to introduce a policy on electric vehicles and alternative fuel technology to give a boost to e-mobility in India. “The world is now in the middle of a new mobility revolution” and India has “inherent advantages” to leverage this opportunity, Narendra Modi said. Exhorting industrialists and global business leaders to create a “new mobility ecosystem” that is in “sync with nature.” Modi also claimed that India can be the best market for the rapidly evolving technology. This announcement was made by the PM at the first Global Mobili...

NTPC Launches its First EV Charging Station in Vishakhapatnam

4Sep By Gauri SinghNo Comments

INDIA

NTPC Launches its First EV Charging Station in Vishakhapatnam

The excitement for electric vehicles these days is at its peak. Various companies are coming up to launch their electric vehicles and also the other related ventures are coming up to build up electric vehicle charging stations to give this a boost in the economy. The state-operated power firm NTPC on Monday announced that it has built its first electric vehicle charging station in Simhadri, Vishakhapatnam. This has been done in association with the government's plan to switch to clean mobility. "NTPC initiates its first Electric Vehicle Charging Station in Simhadri, Vishakhapatnam. NTPC is fully aligned for promoting clean energy transportation in the country, while further hiking the demand for electric vehicles and power generation," NTPC said in a statement. Talking about the stati...

Tata Power Pacts with Tata Motors to Make Maharshtra EV Ready

1Jun By Lavina TolaniNo Comments

BUSINESS

Tata Power Pacts with Tata Motors to Make Maharshtra EV Ready

Electric Utility Company Tata Power Ltd. has partnered with Tata Motors Ltd. to make Maharashtra electric vehicle ready, a move that will focus on establishing charging stations in the state for public use. The company has signed a MoU with the state to support the Maharashtra Electric Vehicle Policy (2018) in accelerating the adoption of electric vehicles, as informed in the Tata Motors official statement. The event witnessed Maharashtra Chief Minister Devendra Fadnavis inaugurating the new EV charging stations to mark the week-long World Environment Day celebration. Meanwhile, CEO & MD, Tata Power, Praveen Sinha said, We are happy to present Maharashtra with various electric vehicle charging stations that cover the wide expanse of the city. As a part of the pact, nine locatio...

Mahindra Electric Collaborated With Cab Aggregator for E-vehicle Service

23Apr By PriyankaNo Comments

BUSINESS

Mahindra Electric Collaborated With Cab Aggregator for E-vehicle Service

Mahindra Group and online taxi aggregator company Meru cabs announced a collaboration for a pilot Electric Vehicle project in India. As per the press release by the Mahindra Group, the pilot project will see Meru deploy a fleet of eVeritos, the all-electric sedan by Mahindra and the model will be replicated in other cities soon. Mahindra Electric CEO, Mahesh Babu said, "As pioneers of electric mobility, we at Mahindra Electric are happy to lead electric fleet adoption in India and are glad to partner with Meru for pilot deployment of eVeritos in Hyderabad." "This is definitely going to make it easier for the city to adopt EV technology and will also be in line with our constant endeavor to make EVs more accessible to a larger urban population. We are now looking forward to working...

Ola and Mahindra Collaborated For EV Mass Mobility Ecosystem in Nagpur

26May By AdityaNo Comments

News

Ola and Mahindra Collaborated For EV Mass Mobility Ecosystem in Nagpur

On Friday, Ola along with Mahindra announced a joint venture programme to build an electric mass mobility ecosystem in Nagpur. Devendra Fadnavis, Chief Minister of Maharashtra, and Nitin Gadkari, Minister of Road Transport, Highways and Shipping, inaugurated the multi-modal electric vehicle project and Ola Electric charging station. This project brings vehicles across different segments and will include – e-cabs, e-buses, e-rickshaws, and e-autos on one platform. A press note sent by the company states that they already have over 100 of Mahindra’s e20 plus vehicles and the rest of the fleet will consist of vehicles sources from other OEMs including Tata Motors, Kinetic, BYD, and TVS amongst others. The electric charging station was unveiled within Nagpur’s airport complex. Ola has al...

Tesla Raises $1.2 Billion, 20 Percent More Than Planned

19Mar By reutersNo Comments

FUNDING

Tesla Raises $1.2 Billion, 20 Percent More Than Planned

Tesla said on Friday it had raised about $1.2 billion, roughly 20 percent more than it had planned, by selling common shares and convertible debt, ahead of the launch of the crucial Model 3 sedan. The company, led by Elon Musk, said it sold 1.3 million common shares at $262 apiece to raise $350 million and that it raised another $850 million though the sale of convertible senior notes due 2022. The electric car company said on Wednesday it planned to sell $250 million worth of stock and $750 million in notes. Tesla had been expected to raise capital since late last year, with the expectations gaining steam last month after Musk said the company could be "close to the edge" on cash needs. Musk had Tesla was considering a number of options, including raising capital, to reduce ri...

Exclusive: Apple Explores Charging Stations For Electric Vehicles

26May By reutersNo Comments

News

Exclusive: Apple Explores Charging Stations For Electric Vehicles

Apple is investigating how to charge electric cars, talking to charging station companies and hiring engineers with expertise in the area, according to the sources. The moves show Apple responding to a key shortcoming of electric vehicles: "filling up" the batteries. A shortage of public charging stations, and the hours wasted in charging a car, could be an opportunity for Apple, whose simple designs have transformed consumer electronics. Apple, which has never publicly acknowledged a car project, declined to comment for this story. Last year Apple was studying a self-driving electric vehicle (EV), as the Silicon Valley icon looks for new sources of revenue amid a maturing market for its iPhone. It is unclear whether Apple would want its own proprietary technology, such as Tesla M...