Tata Motors To Raise $1 Billion In Passenger Electric Vehicle Business
Homegrown auto major Tata Motors said it will raise $1 billion (Rs 7,500 crore) in its passenger electric vehicle business from TPG Rise Climate at a valuation of up to $9.1 billion. Tata Motors Ltd (TML) and TPG Rise Climate,…
Gogoro Launches Battery Swapping In China
Gogoro, a global technology leader in battery swapping ecosystems that enable sustainable urban mobility, today launched its leading battery swapping system in China, the largest two-wheel vehicle market in the world. Gogoro is partnering with China’s leading vehicle makers, Yadea…
Battery Tech Startup Log 9 Raises Funds From Global Energy Solutions Company PETRONAS
Bengaluru-based battery-tech startup Log 9 Materials has raised $2 Mn in funding from global energy solutions company PETRONAS. This took the total funds raised in this round of funding at $10 Mn. The Series A round was led by Amara…
NMMC’s EV Charging Station in Navi Mumbai To Be Set Up By 2021-End
Navi Mumbai will soon get an electric vehicle (EV) charging station. The Navi Mumbai Municipal Corporation (NMMC) is setting a charging station in Nerul along the Palm Beach Road with three charging points. During 2020-21, the civic body had proposed…
Nippon India Files For Electric Vehicle Index Fund With Sebi
Nippon Life India Asset Management Ltd has applied for an open-ended scheme that will look to replicate or track S&P Kensho Electric Vehicles Index, which is designed to measure the performance of companies involved in the electric vehicle sector and…
EV Ride-Hailing Startup BluSmart Raises $25 Million Funding Round Led By BP
BP Ventures has made its first direct investment in India by pumping in USD 13 million in integrated EV ride-hailing and charging company BluSmart. It led a USD 25 million Series A round that also saw support from Mayfield India…
SoftBank Group-Backed Ola Electric Raises Over $200 Million
A unit of SoftBank Group-backed Indian ride-hailing company Ola has raised more than $200 million, led by venture capital firm Falcon Edge, at a valuation of $3 billion, the company said in a statement. The company’s Ola Electric unit aims…
Mahindra Considering Funding Options For EV Supercar Unit
Mahindra & Mahindra Ltd is considering options to raise funds for its unit Automobili Pininfarina, as the Indian automaker looks to start production of its $2.2 million electric hypercar, according to a report. The Munich-based luxury electric vehicle unit had…
World’s Largest EV Battery Maker To Buy A Lithium Miner
The world’s largest maker of electric-vehicle batteries has agreed to buy Canadian miner Millennial Lithium in a move to bolster its supply of key mineral lithium. Chinese battery maker Contemporary Amperex Technology (CATL) outbid rival Ganfeng Lithium‘s July C$353 million…
EV Maker WardWizard Plans To Double Its Annual Production Capacity To 2 Lakh Units
Electric two-wheeler maker WardWizard Innovations and Mobility Ltd said it will double its annual production capacity to 2 lakh units with the setting up of an assembly line at Vadodara plant. The company, which sells electric two-wheelers under the ‘Joy…
