Ola Electric Raises ₹3,200cr for Expansion
Ola Electric has raised Rs 3,200 crore from Temasek-led investors and SBI, the e-scooter maker said on Thursday. The funding – a mix of equity and debt – will be used towards the expansion of Ola’sEV business and setting up…
Stellantis Plans To Invest 1.5 Billion Euros in Chinese EV Manufacturer Leapmotor
Stellantis plans to invest about 1.5 billion euros, or about $1.6 billion, in Leapmotor, a Chinese electric vehicle manufacturer, the companies said late Wednesday. The European-based maker of Jeep and Ram and Leapmotor said in a joint statement that they…
AUTOMOBILES VinFast To Invest $400m On India, Indonesia EV Factories
VinFast aims to build factories in India and Indonesia, while anticipating a $1.2 billion cash infusion from its founder and others as the Nasdaq-listed electric vehicle producer hopes to reach 50 markets by the end of 2024. Vietnam-based VinFast sold…
India To Draft New Ev Investment Policy
India will come up with a new policy to attract electric vehicle (EV) manufacturers and encourage greater investment in the sector, the commerce minister said on Wednesday. Piyush Goyal’s comments come as U.S. EV maker Tesla (TSLA.O) continues talks with…
Bmw Says It Will Invest $750 Million To Build Electric Minis In Oxford
BMW said on Monday that it would invest 600 million pounds, or about $750 million, to build electric versions of its popular Mini car models in Britain. The German manufacturer’s move allays fears that the combination of Brexit and the…
French Carmaker Renault India Considers Bringing An Electric Car In 2024
French carmaker Renault, which has announced an investment of Rs 5,300 crore alongside its partner Nissan for India, is considering introducing a new electric car for the Indian market. This vehicle would be based on the Spring Electric architecture that…
China’s Huayou Mulls $20b EV Battery Investment In Morocco’s Sahara
Huayou, a Chinese manufacturer of electric vehicles battery materials, would invest 200 billion dirhams or $20 bln in a plant in Morocco’s region of Laayoune Sakia El Hamra in the Sahara, the regional investment center announced. A delegation of the…
TEMASEK TO INVEST $145M IN INDIAN MAHINDRA And MAHINDRA EV UNIT
Singaporean state investor Temasek will invest INR 1,200 crore ($145.02 million) into Indian automaker Mahindra & Mahindra Ltd’s electric vehicle (EV) unit for up to 3 percent stake. Mahindra & Mahindra said in a statement on Thursday that the firm and Temasek have…
Hyundai Motor Expects Reflective Benefits As India Rejects Chinese EV Investment
India has blocked Chinese automakers from investing in India. This is expected to give Hyundai Motor Group of Korea reflective benefits as the Korean automaker is expanding its investments in India. According to foreign media outlets including the Economic Times…
BYD’s Electric Car Manufacturing Plan in India Faces Political Scrutiny, Wants To Drop $1 Billion EV Investment Plan
BYD, the world’s largest producer of electric vehicles (EVs) and plug-in hybrid vehicles, is facing potential challenges with its electric cars manufacturing plan in India. The Indian government has been subjecting investments from Chinese companies to closer scrutiny since 2020,…
