BYD Plans $1 bln India EV Investment
Reuters sources say the world’s biggest maker of EVs and hybrids has submitted a $1 billion investment proposal to regulators. They say it wants to build electric cars and batteries there. That would be in conjunction with local firm Megha…
Tesla Is Set To Conquer Untapped Electric Vehicle Car Market In India
Elon Musk-owned Tesla‘s long-awaited plan for India’s debut appears to be gaining momentum after a considerable delay. The company is reportedly planning to establish a massive factory in India, capable of producing 500,000 electric vehicle (EV) units annually. According to media…
The SNB Capital EV Batteries Fund Succssfully Acquired A Stake In “SK ON” Amounted At USD 100mln
SNB Capital announces its successful acquisition of a stake in the Korean batteries manufacturer “SK ON” worth USD 100 million through its “SNB Capital EV Batteries” fund; a closed-end sharia compliant fund. SK ON is considered one of the largest…
Ampere Electric Scooter Crosses 2 Lakh Customers Milestone
Greaves Electric Mobility Private Limited (GEMPL), the E-mobility division of Greaves Cotton Limited, has achieved more than 200,000 secondary sales of its “Ampere” brand electric 2-wheelers as of the first quarter of fiscal year 2024. This achievement highlights Ampere’s commitment…
GM Drops Cadillac Lyriq Prices In China Following VW’s ID.3 Offer
General Motors is slashing the prices of its Cadillac Lyriq by almost 14% amid heightening competition in China’s EV market. The move comes days after Volkswagen introduced a “historical low price” offer on its ID.3 electric car. According to the company’s website…
Tesla Offers New China Rebate As Price Cuts Rock EV Market
Tesla on Friday offered a new incentive to boost electric vehicle sales in China as it notified some workers making battery packs at its Shanghai complex of layoffs, according to a company announcement and a worker who had received the…
Li Auto, Guangzhou And Geely Trump Legacy Automakers In China EV Market
In a significant shift in China’s electric vehicle (EV) market, traditional automakers are being outpaced by local EV manufacturers, The Wall Street Journal reports. Traditional automakers are also feeling the pressure to adapt their strategies to the burgeoning EV market. Approximately one…
Indian Startups Witness 72% Decline In Funding During H1 2023
Indian startups witnessed a 72% decline in funding during the first half of 2023 as compared to last year in the same period, according to a report titled ‘Tracxn Geo Semi-Annual Report: India Tech- H1 2023’. This year from January to…
Chinese EVs Charged Up To Threaten U.S., European Automakers On Home Turfs
Chinese electric car companies are growing, and they’re preparing to challenge legacy automakers in the United States and Europe on their home turfs. The growth bid by such Chinese EV players as BYD Co. Ltd. is shaping conversations among policymakers…
Electric Vehicle Sales Surge 66% YoY In Q2 2023 With 371,340 Units Sold
Electric vehicle (EV) sales in India reached 371,340 units in the second quarter (Q2) of 2023, a year-over-year (YoY) increase of 66% compared to 223,293 units sold in the same period last year. Sales increased by 6% compared to 349,676 units sold…
