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Mahindra Group firm Pininfarina launches luxury electric car Battista

6Mar By Press Trust of IndiaNo Comments

Automobile

Mahindra Group firm Pininfarina launches luxury electric car Battista

Luxury electric vehicles brand Automobili Pininfarina, a part of the Mahindra Group, on Tuesday launched its luxury electric car Battista which is touted to be faster than a current Formula 1 race car in its 0-100 km/h sub-two second sprint. "When it arrives in 2020, the Battista will be the most powerful car ever designed and built in Italy and it will deliver a level of performance that is unachievable today in any road-legal sports car featuring internal combustion engine technology," Automobili Pininfarina said in a press release. Faster than a current Formula 1 race car in its 0 -100 km/h sub-two second sprint, and with 1,900 hp and 2,300 Nm torque on tap, the Battista will combine extreme engineering and technology in a zero emissions package, the company said. Commenting on...

Volkswagen signs e-vehicle startup as first partner for production platform

5Mar By reutersNo Comments

Automobile

Volkswagen signs e-vehicle startup as first partner for production platform

FRANKFURT - Volkswagen has signed German start-up e.GO Mobile as the first external partner for its modular platform for electric vehicles (EV), as it seeks to simplify production across a variety of models. The partner will use VW's so-called MEB production system to "bring e-vehicles to market that complement Volkswagen's model offering," the carmaker said in a statement. A specific vehicle has yet to be decided on jointly, it added. The VW brand's strategy chief Michael Jost said in a newspaper interview in January the group was in advanced talks with competitors over opening its modular EV production platform to rivals. The platform seeks the cost advantages of large production numbers by standardizing as much as possible even across very different models. Volkswagen in...

Ola raises 292 Crore For its Electric Segment

1Mar By AdityaNo Comments

News

Ola raises 292 Crore For its Electric Segment

India's leading cab booking platform Ola electric raises Rs 292 crore from global investment firms Tiger Global Management, Matrix Partners, and Sarin Family India LLC (family office of ex-Vodafone chief executive officer Arun Sarin), according to a regulatory filing by the company. This is the first time Ola EV raises independent funding. Ola Electric Mobility has issued and allotted “1993 Series A compulsory convertible preference shares of face value of Rs 10 each of the company, at an issue price of Rs 14,61,523,” to the above investors. As per the sources, the company will raise a total of Rs 400 crore in this round led by the same set of investors. Ola recently announced to bring 1 million EV on road and plan to place 10,000 e-rickshaws and e-autorickshaws in its service w...

15Jan By NitishNo Comments

Automobile

Cadillac entering into Electric Car Segment With Crossover Vehicle

Luxury car brand Cadillac is entering into the electric vehicle segment with crossover vehicle launch. GM plans to launch Cadillac its lead electric vehicle brand to compete against Tesla and with other EV automakers. GM unveils the images of the full-size crossover SUV during a debut party for the 2020 Cadillac XT6 in Detroit. Cadillac furthered its recent product blitz today with the reveal of the brand’s first EV. This will be the first model derived from GM’s future EV platform. GM announced on Friday that Cadillac will be at the vanguard of the company’s move towards an all-electric future. However, Cadillac yet not revealed the name of electric crossover and additional details but said that all information will share closer to launch. The electric vehicle design will...

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...

Elon Musk Plans to Bring Tesla Partially in India Next Year

5Nov By Gauri SinghNo Comments

BUSINESS

Elon Musk Plans to Bring Tesla Partially in India Next Year

Tesla Motors' Chief Executive Officer (CEO), Elon Musk, has revealed the company's plans of expanding its overall market beyond North America, Europe, and China. The owner of the largest EV company stated that he recently asked his service team to expand to all population regions (not just major metros) in North America, Eastern Europe, China, and Japan by the end of next year. Any plans to make service outside Tesla serviced countries easier? — Anner J. Bonilla???️?? (@annerajb) November 2, 2018 The 47-year-old opened up about his firm's expansion plans after a user responded to a tweet in which Musk had revealed that Tesla and Panasonic are together the largest producer of batteries for electric vehicles in the world. In a follow-up tweet, Musk said the fir...

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...

Polestar Debuts First Production EV to Overtake Tesla

22Sep By Gauri SinghNo Comments

Automobile

Polestar Debuts First Production EV to Overtake Tesla

Sweden-based Polestar debuted its first production EV and previewed its electric car line in New York. Polestar is a Volvo subsidiary which unveiled its Polestar 1, positioned less as a hybrid and more as a fully electric car to attract fence sitters to EVs. This car will hit the streets in 2019 and will be priced around $155,000. It has 3 electrical motors powered by twin 34kWh battery packs and a turbo and supercharged gas V4 up front. It is the first in a series, with an all-electric Polestar 2 to debut in 2019. “Polestar 2 will be a direct competitor to the Tesla Model 3…” CEO Thomas Ingenlath said while the launch event. Also, he stated that the company will focus more on creating converts to EVs than pulling away Tesla’s existing market share. According to Ingenlath, Polesta...

Tesla Rival NIO Raises $1 Billion in US IPO to Accelerate Growth

13Sep By Gauri SinghNo Comments

Market

Tesla Rival NIO Raises $1 Billion in US IPO to Accelerate Growth

One of the largest electric vehicle startup NIO which is also a rival of Tesla has reportedly has made its market debut on the US stock market with a $1 billion IPO (initial public offering). The company’s basic motive behind this move is to boost up the production of its electric vehicles as well as and expand their EV infrastructure. With this IPO, the company has become the first Chinese-backed electric vehicle startup to go public in the US. The startup was backed by Chinese internet giant Tencent Holdings Ltd. Last year, NIO raised up to $600 million in its latest financing round led by Baidu. “We had actually a healthy book and then some orders got pulled or reduced because of market conditions,” NIO’s chief financial officer, Louis Hsieh, said. It was last month that an ann...

Mercedes Benz Forays into the EV Segment with Newly Launched SUV

4Sep By Gauri SinghNo Comments

News

Mercedes Benz Forays into the EV Segment with Newly Launched SUV

The luxury car maker Mercedes Benz is all set to foray into the electric car segment. Benz has launched its much-anticipated electric SUV today which might give a tough fight to the predominant EV player Tesla. While Tesla has been facing challenges a few days back against going private, Benz has taken a great step and took advantage of the situation brewing up. The market for upscale electric cars is Tesla's to lose, with sales of its entry-level Model 3 sedan expected to reach about 50,000 cars this year and almost double that in 2019. "While Tesla currently has a strong hold on the luxury electric market, I don't think this will be the case after the arrival of the German premium offerings," said Wajih Hossenally, an automotive powertrain analyst with IHS Markit. "Tesla has virtuall...