Japanese automaker Suzuki Motor Corporation on Sunday said it will invest around 150 billion yen (about Rs 10,445 crore) by 2026, for local manufacturing of Battery Electric Vehicles (BEV) and BEV batteries in Gujarat. The company has signed a Memorandum of Understanding (MoU) to this effect with the Gujarat government. It was signed “on March … Read more
Recently in December 2021, Reliance New Energy Solar Ltd (RNESL), a wholly owned subsidiary of Reliance Industries had acquired 100% of Faradion Limited (FL), a British battery maker specialising in sodium-ion technology. Now, RNEL is acquiring 100% of Lithium Werks BV (“LWB”), a Dutch Company focused on cobalt free and high performance Lithium Iron Phosphate … Read more
Electric vehicles have made major gains in terms of how far a single charge will take you. A new analysis finds EVs still lag behind gas cars in terms of retail cost per mile of range. If trends of recent years continue, EVs could catch up around 2025, but major challenges remain. Something is loading. … Read more
Moody’s Investors Service Inc.’s move to ramp up Tesla Inc.’s credit rating to the cusp of investment grade is bolstering expectations that the famous electric vehicle maker will secure blue-chip status as soon as early next year. The agency boosted Tesla by two notches to the highest junk rating of Ba1 on Monday, citing improving … Read more
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