The Union ministry of heavy industries, which implements the government’s production-linked incentive (PLI) scheme for advanced automotive technologies, is aiming for all the 85 applicants to receive the approval certification against the scheme’s domestic value-addition (DVA) criteria by July 2024, its secretary Kamran Rizvi said. “We are confident our PLI scheme will clear any audit … Read more
Khanij Bidesh India Ltd (KABIL), a joint venture of state-run miners, has inked India’s first overseas lithium exploration and mining deal involving five blocks in Argentina, setting off New Delhi’s overseas hunt for the critical mineral to loosen China’s stranglehold on a key element of energy transition. “The deal will help India strengthen lithium supplies, … Read more
EV-ready highways in India! The Indian government is planning to construct electric vehicle-ready highways on the Golden Quadrilateral, a network of highways connecting major cities, in order to reduce fuel consumption and vehicular emissions through the use of electric intercity public transport. The government aims to develop 6,000 km of these highways over the next … Read more
Key points related to the buyback are – 4,00,000 equity shares, representing 1.41% of the total shares would be bought back at Rs 10,000/ share i.e, Rs 4,000 crore of total consideration (excluding the associated costs and fees). Company may later decide to increase the buyback price without increasing the total consideration amount of Rs … Read more
The move comes as Europe and the United States scramble to wean themselves off rare earths from China. File. China, the world’s top processor of rare earths, on December 21 banned the export of technology to extract and separate the strategic metals, as it overhauled a list of technologies deemed key to national security. The … Read more
Classic Legends Private Limited (CLPL) is a subsidiary of Mahindra & Mahindra (M&M) incorporated in 2015 to revive classic motorcycle brands such as Jawa, Yezdi and BSA. M&M currently owns 60% of CLPL. CLPL is now raising fresh capital of Rs 875 cr to fund growth. M&M has decided to continue hold on to it’s … Read more
TVS Motor has announced a strategic entry into Europe by signing an agreement for import and distribution with Emil Frey, a 100 year old leading name in automotive distribution in Europe. Emil Frey is among the largest automobile importers and retailers in Europe, serving many leading automotive brands across the region. The group has more … Read more