Over Rs 5,200 Crore Disbursed As FAME-II Subsidy On Electric Cars, Two-Wheelers
The Ministry of Heavy Industries (MHI) has revealed that electric two-wheelers, three-wheelers and passenger vehicles have availed of Rs 5,228 crore in subsidies under the FAME-II scheme. The government body in its review of 2023 said that so far 11,53,079…
China’s BYD picks Hungary for its First European Electric-car Plant
BYD plans to build its first European car factory in Hungary, part of a push by the Chinese electric-vehicle powerhouse to challenge Tesla as the dominant maker of battery-powered cars. The plant in the southern city of Szeged will produce…
Ola Electric to Raise USD 662 mn in India’s First EV Maker IPO
SoftBank Group-backed Indian e-scooter maker Ola Electric on Friday filed to raise at least 55 billion rupees (USD 661.9 million) in an initial public offering (IPO) that is tippd to be one of the country’s biggest share sales next year….
HOP Electric Targets Tripling Sales in 2024, Unveils Nimble ‘Nimbus’ Platform for Electric Motorcycles
HOP Electric is targeting up to three-fold rise in its annual sales in 2024 and is preparing to launch an electric motorcycle equivalent to the mass market entry level bikes of conventional engines to shore up volumes, according to company…
Chinese EV Maker Nio gets US$2.2 billion Investment from Abu Dhabi Fund
CYVN Holdings, an investment fund controlled by the Abu Dhabi government, has invested US$2.2 billion in Nio, making it the first Middle East investor to take a substantial stake in a Chinese electric-car maker. Nio, one of China’s top three…
SAR Group’s Livguard Acquires Emuron Tech To Enter EV Battery Swapping Space
SAR Group’s energy solutions brand Livguard said it has acquired Delhi NCR-based battery swapping and IoT solutions startup Emuron Technologies to venture into the EV battery swapping space. However, the company did not disclose the financial terms of the deal….
Macquarie Cheques Into EV Finance in India with $400 mn
Australian financial services firm Macquarie is looking to enter the credit space in India by launching a non-banking financial company (NBFC) as part of an electric vehicle (EV) platform it is planning to set up in the country. The NBFC…
Pure EV Introduces India’s First Electric Vehicle Exchange Program
PURE EV has successfully established the world’s first Electric Vehicle Exchange Programme, establishing a new standard in the automotive industry. The Vehicle Exchange Camp serves not just classic internal combustion engine (ICE) 2-wheelers, but also EV aficionados. Consumers have responded…
China to Help Promote Electric Vehicles in Punjab
Provincial Transport Minister Ibrahim Hassan Murad met with the officials of Chinese Electric Dynamic Company while Federal Minister for Trade and Commerce Gohar Ejaz accompanied him. In the meeting, the promotion of electric vehicles in Punjab and the comprehensive network…
SIMPLE ENERGY LAUNCHES DOT ONE ELECTRIC SCOOTER AT RS 99,999
Simple Energy, an electric vehicle and clean energy start-up, announced the launch of its’ latest electric two-wheeler Simple Dot One. An exclusive introductory price of Rs 99,999 (ex-showroom Bangalore) is being offered specifically for pre-booked Simple One customers from Bangalore….
