Christine Orita was a loyal Tesla fan for years but recently ditched her Model S for an electric Mercedes-Benz. Elon Musk’s politics and disappointing self-driving tech pushed Orita to drop the Tesla brand, she told Insider. She loves how luxurious and comfortable her new Mercedes EQS is compared to her Model S. This as-told-to essay … Read more
Sona BLW Precision Forgings Ltd. (Sona Comstar) has signed an agreement to acquire 54% equity stake in NOVELIC, a Serbian Company founded in 2012. NOVELIC is primarily into providing sensor based solutions for smart vehicles. Sona’s immediate objective is to use it’s own existing client relationships to ramp up NOVELIC’s ADAS (Advanced Driver Assistance Systems) … Read more
Eicher is taking a strategic stake in Stark Future SL, investing € 50 mn (apprx Rs 450 cr) in lieu of a 10.35% equity stake. Stark is a European electric motorcycle manufacturer, incorporated in Barcelona Spain, in July 2020 with specific focus in the area of performance electric motorcycles. It has recently launched the motocross … Read more
At this stage, it’s only a MOU that has been announced by Amara Raja with the State of Telangana. What finally comes out of it remains to be seen. (It’s important to keep a track of these announcements as it helps in understanding management’s promises vs delivery over period) Key announcements – Proposed facility will … Read more
After consistent delays over the last few months, Hero has kept up with the festival period launch of it’s much awaited VIDA Electric Scooter. The model is called VIDA V1 and is being offered in two variants – V1 Pro and V1 Plus. Top speed is 80 kmph, running range is indicated at 143 and … Read more
M&M on August 15, 2022 announced the following – Inauguration of EV design studio in UK – Mahindra Advanced Design Europe (M.A.D.E) at Banbury, Oxfordshire. Its primary objective is to conceive the future Mahindra EV portfolio and the advanced vehicle concepts M.A.D.E shares the campus with the Mahindra Formula E team and forms a part … Read more
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
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
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