Mahindra & Mahindra (M&M) is currently undergoing an extensive reorganisation exercise. It recently, Separated out the Passenger EV business Sold stake in the renewable business Partnered Actis to develop warehousing Now it has announced separating out the Last Mile Mobility Business and is also raising external funding in it from IFC. Last mile mobility business … Read more
Funds affiliated with Blackstone were classified as promoters and held 20.50% in the Sona Comstar before this transaction. Blackstone has now sold off this final balance 20.5% @ Rs 410/ share aggregating to Rs 4,917 cr through open market bulk deals Buyers included Foreign Institutional Investors, Sovereign Wealth Funds, Domestic Mutual Funds and Insurance. companies. … Read more
Electric Vehicles (EV) continues to attract investors’ attention. Now Tube Investments of India (TII) has announced fund raising in it’s wholly owned subsidiary, TI Clean Mobility Private Limited (TICMPL). TICMPL, a recent initiative of TII, is focused into manufacture and marketing of Electric Three Wheelers and through it’s subsidiaries into Electric Tractors and Electric Heavy … Read more
Tata Motors on Monday signed a memorandum of understanding (MoU) with ride-hailing platform Uber to induct 25,000 XPRES-T electric vehicles into its premium category service in India. The collaboration represents the largest EV partnership yet between an automaker and a ridesharing platform in the country. In July 2021, Tata Motors launched the ‘XPRES’ brand exclusively … Read more
Discovery of 5.9 million tonnes of lithium reserve in Jammu and Kashmir’s Reasi District is a major step in reducing India’s dependence on import of EV batteries, laptops, mobile phones, etc. The reserves can help cater to India’s lithium demand for its growing EV industry. But one needs to look from a bird’s eye-view to … Read more
Christine Orita was a loyal Tesla fan for years but recently ditched her Model S for an electric Mercedes-Benz. Elon Musk’s politics and disappointing self-driving tech pushed Orita to drop the Tesla brand, she told Insider. She loves how luxurious and comfortable her new Mercedes EQS is compared to her Model S. This as-told-to essay … Read more
Tesla is trying to use its overbuilding problem to maintain market share. Price slashes and piled up inventory at Tesla pose a big problem for rival startups. But the price cuts in the US alone could cost Tesla as much as $7 billion in annual profit. Tesla has the opposite problem of its competitors right … Read more
Tesla Inc. has reduced its electric vehicle prices in the United States and Europe, aiming to boost demand, Reuters reported. The move comes nearly one week after the luxury electric major slashed prices at its biggest international market in China. Following the news, Tesla shares were losing more than 4 percent in Frankfurt as well … Read more
Sona BLW Precision Forgings Ltd. (Sona Comstar) has signed an agreement to acquire 54% equity stake in NOVELIC, a Serbian Company founded in 2012. NOVELIC is primarily into providing sensor based solutions for smart vehicles. Sona’s immediate objective is to use it’s own existing client relationships to ramp up NOVELIC’s ADAS (Advanced Driver Assistance Systems) … Read more