India to Expand EV Manufacturing Incentives After Tesla Disappointment
India plans to expand electric vehicle incentives to automakers building models at existing factories in the country, instead of limiting the benefits to automakers willing to build new plants, a person with direct knowledge of the matter said. India’s EV…
Sterling Tools Partners with GLVAC to Boost EV Component Manufacturing in India
Sterling Tools Limited, through its subsidiary Sterling Tech-Mobility Limited, has joined forces with China-based Kunshan GLVAC Yuantong New Energy Technology Co., Ltd. (GLVAC YT) to enhance the manufacturing of High Voltage Direct Current (HVDC) contactors and relays in India. This…
Key PLI Schemes Bring Significant Boost To Local EV Manufacturing In India
To bolster the domestic electric vehicle (EV) manufacturing, the government’s production-linked incentive (PLI) scheme with an approved outlay of Rs 25,938 crore, along with some other key initiatives, have brought a significant change for the industry. The Centre has already…
EV Manufacturer Kinetic Green Raises $25 Million from GPC
Electric vehicle (EV) manufacturer Kinetic Green secured a ₹2.09 billion (~$25 million) investment from private equity firm Greater Pacific Capital (GPC), as part of an overall targeted Series A fundraiser of up to $40 million. The company plans to use…
Eka Mobility to Invest Rs 600 Crore in Pune Plants for EV Manufacturing
Eka Mobility, a Pune-based electric vehicle (EV) manufacturer, has announced a significant investment of Rs 600 crore for the expansion of its manufacturing facilities in Chakan and Koregaon Bhima. Sudhir Mehta, the founder and chairman of Eka Mobility, revealed plans…
Pepper Motion will Invest ₹4,640 crore in EV Manufacturing Unit at Punganur
Andreas Hager, CEO of the German-based Pepper Motion Company, called on Chief Minister Y.S. Jagan Mohan Reddy at the latter’s camp office at Tadepalli, near here, on November 29 (Wednesday). Pepper Motion, which manufactures electric buses and trucks, is all…
Suzuki Eyes to Make India Global Electric Car Manufacturing Hub
Maruti Suzuki’s parent Suzuki Motor Corporation plans to make India its global electric car manufacturing hub with the first batch of vehicles expected to be rolled out as early as 2025, according to a news report. Suzuki will start producing…
Gujarat’s Newer Strides Towards EV Manufacturing Hub
Even though a late entrant in the race of becoming India’s soughtafter automobile hub, Gujarat is clearly taking newer strides when it comes to electric vehicle (EV) manufacturing. As the policy focus of both the state and the Centre is…
Foxconn Considers India For EV Manufacturing Hub, Targets 5-7 Lakh EVs By 2025
Foxconn is also aiming to establish a compound semiconductor fabrication plant in India, focusing on gallium nitride and silicon carbide chips. Foxconn Technology Group, the world’s foremost contract electronics manufacturer, is actively considering India as its third worldwide hub for…
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,…
