Ola Electric To Invest $100 Million For Lithium-Ion Battery Manufacturing Gigafactory Amid IPO Buzz
IPO-bound Ola Electric plans to invest $100 million (approximately Rs 834 crore) in the initial phase of constructing its gigafactory for lithium-ion battery cell production as per founder Bhavish Aggarwal. He mentioned that Ola’s electric scooters will feature these locally-produced…
Clean Motion Starts Zbee Manufacturing in Pune, India
India is the world’s most populous country and has a strong demand for sustainable transport solutions and innovation. Clean Motion, which already has a presence in India, will now expand its operations through local manufacturing and sales of Zbee. This…
Chinese Company to Build Morocco’s First $1.3 Billion EV Battery Gigafactory
The Moroccan government made this development known on Thursday. Gotion High Tech is the latest company to invest in EV battery manufacturing in Morocco, as the country aims to adapt its growing automotive sector to the rising demand for electric…
NSE Sparks EV Investment With First Electric Vehicle Index
NSE Indices Ltd., a subsidiary of the National Stock Exchange, has introduced the Nifty EV and New Age Automotive index. This thematic index aims to monitor companies engaged in the electric ecosystem or involved in developing electric vehicles, hybrid technology,…
BluSmart Plans to Raise Over $300 mn in Three Years; Expand Fleet to 25,000 EVs
BluSmart, India’s biggest electric car operator, is planning to raise more than $300 million in three years as it wants to expand its fleet by thousands of cars. The company aims to increase its fleet of electric vehicles to take…
EV Startup Zypp Electric Raises $15 Million from ENEOS, 9unicorns, IAN Fund, Others
EV startup Zypp Electric has raised $15 million in its Series C funding round led by Japanese major ENEOS, part of its ongoing $50 million round which is split into $40 million equity and $10 million debt. Announcing the fundraising…
PURE EV and PDSL UK Partner to Launch Solid-state Battery Electric Scooter – New Joint Venture Will Attract Investments to the Tune of £30 – 40 million
PURE EV and PDSL UK partner to launch solid-state battery electric scooter – New joint venture will attract investments to the tune of £30 – 40 million. 7 May 2024, Coventry, UK. PURE EV, India’s leading electric 2wheeler scooter OEM,…
Mahindra & Mahindra Commits ₹120 Billion to EV Expansion by FY 2027
Automobile manufacturer Mahindra & Mahindra plans to invest ₹120 billion (~$1.43 billion) in its electric vehicle (EV) unit, Mahindra Electric Automobile (MEAL), over the next three years up to March 31, 2027. In a stock exchange filing, the company stated…
Relux Electric Gets INR 250 Crore in Project Funding
Relux Electric has received INR 250 crore in project funding from a consortium of private real estate and infrastructure investors. At present, the company operates more than 100 charging stations, primarily situated along major highways and key urban areas, catering…
GEF Invests ₹5.8 Billion in TI Clean Mobility to Develop EV Verticals
TI Clean Mobility (TICMPL), a wholly-owned subsidiary of Tube Investments of India, a Murugappa Group company, has raised ₹5.8 billion (~$69.5 million) in equity and convertible preference shares from South Asia Growth Invest III LLC and South Asia EBT Trust…
