Chennai: India’s electric vehicles (EV) value chain revenue pool is expected to reach anywhere between $76-$100 billion by 2030, says a recent report released by Bain & Company. This could translate to an $8-11 billion profit pool for the EV industry. “Contributors to the auto revenue and profit pools in 2030 will be significantly different,” […]
Category: Power
Power
15 lakh consumers opt out of Delhi government’s power subsidy scheme
NEW DELHI: More than 15 lakh consumers have opted out of Delhi government’s power subsidy scheme. As per the power department’s estimates, in 2021, an average of 47 lakh of a total 58 lakh domestic consumers benefited from the government’s subsidy scheme every month. The number of beneficiaries ranged from a little over 34.1 lakh […]
Maharashtra industry power users up by 2,193 in a year
MUMBAI: The number of industrial consumers of state power utility MSEDCL has increased by 2,193, indicating that industries were willing to stay in Maharashtra due to “reliability and affordability of power”, a senior official said on Wednesday. Sources said that the government was keen on ensuring that industries do not shift to neighbouring states “in […]
A year on, BMC cancels EV deal over delay in supply
MUMBAI: More than a year after the BMC bought its first electric vehicle (EV) for the then mayor Kishori Pednekar, the BMC has scrapped its deal to deliver four more EVs as the selected company allegedly failed to supply the remaining EVs on time and also hiked its rates. The company, Energy Efficiency Services Limited […]
Mahindra to produce born-electric, e-utility vehicles at upcoming EV plant
Pune: The Mahindra group-owned automotive firm Mahindra & Mahindra (M&M) said that it is planning to develop and manufacture electric vehicles from its dedicated INGLO platform for EVs, the EV-only brand BE, as well as the electric version of its XUV utility vehicle, from its upcoming plant in Chakan. M&M showcased some of its born-electric […]
Electric vehicles confront the leap to the mass market
The past year was sobering for investors who poured money into Tesla Inc and rival electric vehicle startups that hoped to emulate Tesla CEO Elon Musk’s success. As interest rates rose and financial markets gyrated, shares in many EV startups deflated. Rivian Automotive Inc, which had a higher market value than Ford Motor Co shortly […]
Mercedes-Benz gears up powertrain network for EVs from 2024
Mercedes-Benz laid out on Wednesday an over 1 billion-euro ($1.06 billion) plan to adapt its global production network for electric powertrain systems, including battery assembly, electric drive units, and axles, from 2024. Plants in Kamenz and Untertuerkheim in Germany as well as Beijing, which already assemble batteries for electric and hybrid models, will assemble batteries […]
German car giants and Asian battery kings: A match made in Hungary
German automakers and Asian battery suppliers are getting together in Hungary in a multi-billion-dollar marriage of convenience to drive their electric ambitions. The companies are flocking to central Europe, where Viktor Orban’s government is defying Western wariness of China and offering generous benefits to host foreign operations and stake Hungary’s claim as a global centre […]
Mercedes-Benz, Rivian EV partnership on hold
Electric car-maker Rivian has put a pause on plans to co-develop multiple new electric delivery vans with luxury German automaker Mercedes-Benz. Rivian was concerned about spending a lot of money on an expensive new vehicle development project amid a slowing economy. “At this point in time, we believe focusing on our consumer business, as well […]
Volkswagen and Italy’s Enel launch joint venture for high-speed charging
Volkswagen and Italy’s Enel have formed a joint venture to build 3,000 high-speed charging points across Italy for electric vehicles (EVs), investing 100 million euros ($105.38 million) each, Volkswagen said. The charging points will be accessible to drivers of cars made by all manufacturers at 500 locations by the end of 2023, and will have […]
Servotech to install solar-powered EV charging port at Ministry of New & Renewable Energy premises
Servotech Power Systems said that it has inked a pact with the National Solar Energy Federation of India (NSEFI) to install a solar-powered electric vehicle (EV) charging carport at the Ministry of New & Renewable Energy’s premises in Delhi. “Servotech Power Systems Ltd. has signed an agreement with India’s apex solar organisation, the National Solar […]
Don’t stop power supply to farmers: Maharashtra deputy CM Devendra Fadnavis
MUMBAI: Ahead of the monsoon session of the state assembly, deputy chief minister Devendra Fadnavis has directed senior officials of MSEDCL not to stop power supply to any farmer across Maharashtra for non payment of bills. Although this decision has come as a “huge relief” and benefited several farmers across the state, it has also […]