Hyundai Motor Company (HMC) and group firm Kia Corporation have signed a Memorandum of Understanding (MOU) with Exide Energy Solutions Ltd (EES) for electric vehicle battery localisation in India. (EES is a wholly-owned subsidiary of Exide Industries. It was established in 2022 to foray into the business of manufacturing Lithium-ion cells, modules and packs incorporating … Read more
Jayadev Galla, Chief of Amara Raja Batteries has been a two-time Member of Parliament for the Telugu Desam Party (TDP). He has announced taking a break from electoral politics to focus on business “without fear of reprisals and attacks”. “It is with a heavy heart that I announce my decision to not contest in the … Read more
The Union ministry of heavy industries, which implements the government’s production-linked incentive (PLI) scheme for advanced automotive technologies, is aiming for all the 85 applicants to receive the approval certification against the scheme’s domestic value-addition (DVA) criteria by July 2024, its secretary Kamran Rizvi said. “We are confident our PLI scheme will clear any audit … Read more
The increasing adoption of electric vehicles, the rising number of smartphones, laptops, and other consumer electronics, and the growing need for eco-friendly energy storage solutions have been driving the Lithium-ion (Li-ion) battery market in India. Estimated at $2.5 billion in 2023, it is expected to cross $5 billion in the next five years. The increasing … Read more
Reliance in recent years has announced big ambitions in the renewable space. In continuation of the same, it has now showcased it’s swappable and multipurpose battery storage technology for electric vehicles (EVs). As part of the plan, RIL has developed a removable lithium-ion battery that can power an electric scooter, electric three-wheeler and a light … Read more
In a surprise move, the promoters of SJS have sold 29.5% through the open market transactions. The selling is by a promoter entity, Evergraph Holdings Pte. It’s shareholding has consequently declined from 34.15% to 4.63%. What’s more interesting is – the combined promoter stake has now fallen to just 21.81% (from the earlier majority of … Read more