Leading NBFC Muthoot Capital Bags Rs.100 Crore Impact Funding for Electric Vehicle Portfolio
Muthoot Capital Services Limited (MCSL), one of India’s fastest-growing NBFCs and a publicly traded entity of 137-year-old business conglomerate Muthoot Pappachan Group announces its partnership with UK-based Development Financial Institution for raising long-term debt funds to promote its electric vehicle…
Electric Motor Parts Maker EuroGroup Laminations Enters India, signs JV in China
Italian electric motor component maker EuroGroup Laminations is buying a 40% stake in India’s Kumar Precision Stampings, the company said shortly after announcing a preliminary agreement for a strategic electric vehicle sector alliance in China. Milan-based EuroGroup Laminations (EGLA) –…
River Mobility Plans to Scale up ops; aims to Open 100 Stores by March
Bengaluru-headquartered electric vehicle startup River Mobility Pvt Ltd backed by marquee investors Yamaha Motor Corp, Mitsui & Company Ltd, aims to open 100 showrooms by March 2026, a top official said. The company under its expansion drive inaugurated its first…
Schemes for Accelerating the Adoption of EV
Ministry of Heavy Industries is currently implementing the following schemes for accelerating the adoption of electric vehicles in the country: Electric Mobility Promotion Scheme 2024 (EMPS) with an outlay of ₹ 778 Crore for a period 6 months, w.e.f. 1st…
Godawari Electric Launches New Eblu Feo X
Godawari Electric Motors, manufacturer of the Eblu range of electric 2 and 3-wheelers, has launched the new Eblu Feo X. This is the brand’s second offering in the EV two-wheeler segment in India. The Eblu Feo X was unveiled at…
EV Sales in India Jump 53% in July to 179,000 Units, EMPS revs up 2- and 3-wheeler Demand
India’s electric vehicle industry has had a good July 2024 on the retail sales front. At 178,948 units, the year-on-year increase was a strong 53%, with an additional 62,328 EVs being sold (July 2023: 116,620 units) or 5,772 EVs being…
Lectrix EV and Electric One Join Hands to Expand Market Reach and Reliability in Indian EV Market
Lectrix EV, the electric mobility arm of SAR Group and a key player in sustainable mobility solutions, is collaborating with Electric One Energy Pvt. Ltd., a leading EV superstore chain. This partnership is set to broaden Lectrix EV’s market presence…
Battery Maker Amara Raja, EV firm Ather Energy ink MoU for Advanced Chemistry Cells
Battery maker Amara Raja Advanced Cell Technologies and electric vehicle maker Ather Energy have signed an MoU to develop and supply Nickel Manganese Cobalt (NMC) and Lithium Iron Phosphate (LFP) Lithium-Ion (Li-ion) as well as other advanced chemistry cells. These…
India, US Join Hands to Launch 10,000 Electric Buses on Indian Streets
The ambassador travelled in an Indian electric bus to attend a session on “accelerating deployment of electric buses in India”. “It was very exciting for me to be on an Indian electric bus. We know that electric buses can change…
EV Charging Aggregator ElectricPe Raises $3 million from Green Frontier Capital
This new fund will be utilised by the Bengaluru-based startup to expand its operations to new geographies and for technological advancement, the company said on Tuesday. “We have always believed in stage-by-stage funding, and this $3 million investment marks the…
