For the past decade, many Apple employees working on the company’s secretive car project, internally code-named Titan, had a less flattering name for it: the Titanic disaster. They knew the project was likely to fail. Throughout its existence, the car effort was scrapped and rebooted several times, shedding hundreds of workers along the way. As […]
Category: Power
Power
Biden calls Chinese electric vehicles a security threat
President Joe Biden took steps Thursday toward blocking internet-connected Chinese cars and trucks from entry to the US auto market, including electric vehicles, saying they posed risks to national security because their operating systems could send sensitive information to Beijing. The immediate action was the opening of a Commerce Department investigation into security threats, which […]
REC to issue deep-discount bonds to raise Rs 5,000 crore in March: Report
Mumbai: India’s REC will tap a unique and uncommon structure to raise Rs 5,000 crore ($603.2 million) through a private placement of bonds before the end of March, three sources directly aware of the development said on Thursday. The state-run financier plans to raise the money through 10-year, deep-discount bonds and the issue is likely […]
Apple to wind down electric car effort after decade-long Odyssey
Apple Inc. is canceling a decadelong effort to build an electric car, according to people with knowledge of the matter, abandoning one of the most ambitious projects in the history of the company. Apple made the disclosure internally Tuesday, surprising the nearly 2,000 employees working on the project, said the people, who asked not to […]
Plan to enter mass market EV segment in India: Skoda Auto
Mumbai: Czech carmaker Skoda Auto plans to enter the mass market of electric vehicles segment in India, for which it is exploring all options, including partnerships with local companies for economies of scale, company’s management board member Martin Jahn said on Wednesday. The company is gearing up to enter the electric vehicles segment in India […]
Adani hints at future collaborations with Uber after meeting CEO Dara Khosrowshahi
New Delhi: Billionaire Gautam Adani on Saturday met Uber CEO Dara Khosrowshahi, who is currently on a visit to India, and hinted at possible future collaborations between his conglomerate and the ride-hailing app. Taking to X, both business leaders appreciated their conversation on the Indian growth story and their vision for the subcontinent. “Absolutely captivating […]
CM Stalin lays foundation stone for VinFast’s EV plant in south Tamil Nadu
Tuticorin: Tamil Nadu Chief Minister MK Stalin on Sunday laid the foundation stone of Vietnamese EV manufacturer VinFast Auto’s vehicle and battery product facility.VinFast, a major competitor to American electric vehicle (EV) maker Tesla, has earmarked investments of Rs 16,000 crore in the state. Tesla has been negotiating with the Centre to lower customs duty […]
VinFast breaks ground for its first Indian EV factory in Tamil Nadu’s Thoothukudi
Chennai: Fifty days after signing a Memorandum of Understanding with the Tamil Nadu government, Vietnamese electric vehicle maker VinFast on Sunday began work on building its first India factory in the port city Thoothukudi by holding a ground breaking ceremony. The integrated electric vehicle and battery manufacturing unit will come up in an area of […]
Price parity for EVs within three years on softening prices
Electric vehicles in India are expected to achieve price parity with internal combustion vehicles as early as 2027-28, on the back of easing battery prices, industry insiders and experts told DH. This comes at a time when the growth in sales of electric vehicles has surpassed that of traditional ones, with EV sales registering 100% […]
Vietnam’s VinFast seeks India EV import duty cut as plant construction starts
Thoothukudi: Vietnamese electric vehicle maker VinFast has asked India to reduce import duties on its cars for about two years so customers can get familiar with its products while a local manufacturing plant comes on stream, an executive said on Sunday. VinFast has started building a factory in the southern state of Tamil Nadu and […]
Once the leader, Karnataka slips in renewable energy production
Karnataka, which in 2021, had the highest installed capacity for renewable energy production in the country, has fallen behind in the last two years. Renewable energy-rich states such as Rajasthan, Gujarat and Tamil Nadu, in the last two years, have surpassed Karnataka by increasing their installed capacity by at least 9,000 MW, while Karnataka has […]
Electric bike-sharing platform Yulu raises Rs 160 cr capital in equity funding
Mumbai: Electric bike-sharing platform Yulu Bikes on Friday said it has secured Rs 160 crore ($19.25 million) capital in equity funding through the issuance of shares to the company’s existing strategic investors– Magna and Bajaj Auto Ltd. The capital infusion will enable Yulu to maintain its growth streak and will strengthen its market leadership as […]