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
The Company announced plans to invest in InoBat Auto (IA), a Slovakia based start-up focused on research and development of batteries for electric vehicles and production of lithium-ion battery cells as well as tailored and customs cells. Key points to note – IA was founded in 2019 and it’s 1st funding was a Euro 5 … Read more
Ola Electric Mobility Pvt., the Indian startup that’s pledged to build the world’s biggest electric scooter factory, doled out a handful of brightly-hued bikes earlier this month, complete with drummers and a saxophonist to mark the occasion. Founder Bhavish Aggarwal came to thank some 100 customers who brought along family and friends. But beyond the … Read more
The announcement was widely expected. Earlier in September 2021, Company had already informed that it’s exploring such possibility. Besides the Company is also into consolidation mode and had recently decided to sell the non core HDFC Life. On the subject, Company has announced – “We have now planned to setup a multi-gigawatt lithium-ion cell manufacturing … Read more