Ola Electric on Monday said it has raised over USD 200 million (about Rs 1,490.5 crore) from Tekne Private Ventures, Alpine Opportunity Fund, Edelweiss and others, valuing the electric vehicle maker at USD 5 billion. In September last year, Ola Electric had announced raising a similar amount in funding from Falcon Edge, Softbank and others … Read more
Hero Electric (HE) is different from Hero Motocorp that we all know. HE belongs to Vijay Munjal, the cousin brother of Pawan Munjal and is currently run by Vijay’s son Naveen Munjal. HE was amongst the 1st ones to have targeted EV space in India – working on it for last 15 years. Currently there … Read more
Days after announcing another round of investment into Ather, Hero now commits to ongoing funding round of Gogoro – it’s Taiwanese strategic partner in the Electric Vehicles (EV) space. Key points to note – Hero had announced strategic partnership with Gogoro in April 2021. Founded in 2011, Gogoro is into Electric Smartscooters and swappable battery … Read more
Hero already owns 34.8% of Ather Energy. The current investment of Rs 420 crore i.e, approx $56 mn by Hero is part of the ongoing bigger funding round. Actual stake to Hero in lieu of this amount would become clear once the round closes (expected by 30th April 2022). Key points to note – Ather … Read more
After Telangana, Maharashtra and Punjab on Sunday invited Elon Musk, the chief executive officer of US-based electric vehicle manufacturer Tesla, to set up a production unit in their states. After Musk tweeted about “challenges with the government” in connection with his firm’s plans to launch its products in India, Minister Jayant Patil responded on Twitter … Read more
Indian conglomerate Reliance Industries, South Korea’s Hyundai Motor Co and automaker Mahindra & Mahindra are among companies that have submitted bids under the country’s Rs 18,000-crore billion battery scheme, two sources told Reuters. India last year finalised an incentive program to encourage companies to invest in the local manufacturing of batteries as it looks to … Read more
Strategic partnership with German startup Magment to enable roads that recharge electric vehicles. Highway trials planned in the US. Other applications include robot recharging in warehouses and factories Holcim is partnering with the German startup Magment to improve its magnetizable concrete technology for road surfaces enabling electric vehicles to recharge wirelessly while in motion. Known … Read more
Reliance New Energy Solar Ltd (RNESL), a wholly owned subsidiary of Reliance Industries is acquiring 100% of Faradion Limited (FL), a British battery maker specialising in sodium-ion technology. Key points to note – RNESL is investing 125 mn pounds in the transaction – 100 mn pounds for 100% acquisition of FL and balance 25 mn … Read more
Mercedes-Benz took the wraps off of a striking electric concept car on Monday. Meet the Vision EQXX. Mercedes-Benz Vision EQXX. Mercedes-Benz You probably won’t be able to buy a Merc exactly like the Vision EQXX anytime soon. But some of the advancements Mercedes developed here could make their way into your future electric Benz. Mercedes-Benz … Read more