Vedanta targets $100 bn revenue by 2030. 6x in 8 years.

Putting in big long term targets is in fancy and Vedanta is not the one to be left behind. Addressing shareholders at the company’s 57th AGM, Anil Agarwal, the chairman has set the target of $100 bn, i.e., approx Rs 8 lakh crore revenues by 2030. Company reported revenues of Rs 1.33 lakh crore in … Read more

22 Features That Make Tesla Cars Unique

All Tesla models are equipped with a driver assistance system called Autopilot. The feature enables a car to steer, accelerate, and brake automatically within its lane. The function does not replace the role of a driver, but is intended to make driving easier and cut down on accidents. New Tesla models have eight cameras and … Read more

Macquarie seeks funds to set up EV leasing co

Macquarie Group, one of the largest foreign infrastructure investors in India, is in talks with commercial investors to raise $205 million to set up an electric vehicle (EV) leasing and finance company, said two people aware of the development. The India-focused e-mobility financing platform will be managed by Macquarie Asset Management, which has assets of … Read more

M&M benchmarks to Tata. Does a token fund raise in the EV business.

After Tata Motors doing it last year, M&M going for external fund raise in the EV business was widely expected. The Company has now announced raising Rs 1,925 crore from British International Investment Plc (BII) for the same. BII (formerly CDC Group plc) is the Development Finance Institution of the UK Government and invests between … Read more

M&M wants to merge EV tech arm with itself. Confusing.

As per newspaper report, M&M is seeking approval from National Company Law Tribunal for a merger of Mahindra Electric Mobility Ltd (MEML) with itself. Rationale given Consolidation of the complete value chain of Electric Vehicle (EV) development, manufacturing and sales. MEML has expertise in EV technology while M&M has expertise in automotive design, engineering and … Read more

Tesla To Cut 10% Staff, Pauses All Hiring, Says Elon Musk

The world’s richest man and chief executive of Tesla Elon Musk has said that the electric car maker is going to reduce its staff strength by 10% and also he had a super bad feeling about the world economy. An internal email which was titled “pause all hiring worldwide,” was sent to Tesla executives on … Read more

Greaves Cotton raises significant money in EV subsidiary

Money is being raised by Greaves Electric Mobility (GEM), currently a 100% subsidiary of Greaves Cotton Limited (GCL). It has got total commitments of $220 mn from Abdul Latif Jameel (ALJ), a family-owned diversified business founded in Saudi Arabia in 1945. Key points to note – ALJ is a leading distributor of Toyota products for … Read more