Hero Motocorp Ltd (HML) at 34% market share is the largest two wheeler manufacturer in India. Given the increasing interest in Electric Vehicles (EV) globally, market has been keenly awaiting the launch by HML. The Company has also made it’s intentions clear –Â beside in the process of launching it’s own EV, it has also … Read more
Road transport minister Nitin Gadkari on Tuesday said rapid strides in technology and green fuel will reduce the cost of electric automobiles, bringing them at par with petrol-run vehicles in the next two years. Replying in the Lok Sabha on the demands for grants for road transport and highways ministry, 2022-23, Gadkari emphasised the need … Read more
Rahul Bajaj, chairman emeritus of Bajaj Auto, who died in Pune on Saturday of cardiac and respiratory ailments at the age of 83, wasn’t known to mince words, or give up without a fight. In 1970-71, when licences and production capacities were tightly controlled by the government, he vigorously argued his company’s case for producing … 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
Classic Legends, the motorcycle company part-owned by Mahindra Group re-launched the Yezdi brand of classic motorcycles for the Indian market on Thursday. The brand is making a comeback to India after a two and half decade hiatus and part of a larger strategy to tap into the fast expanding mid-market segment (350cc to 600cc) in … 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