South Korean auto majors Hyundai Motor Company and Kia Corporation on Monday announced a partnership with homegrown battery maker Exide Energy Solutions Ltd for electric vehicle battery localisation in India. Hyundai Motor Company and group firm Kia Corporation have signed a Memorandum of Understanding (MOU) with Exide Energy Solutions Ltd, a leading Indian battery company, […]
Day: April 8, 2024
Our EV firms do not rely on subsidies to gain competitive advantage: China
China’s electric vehicle companies do not rely on subsidies to gain a competitive advantage and accusations by the US and Europe of “overcapacity” are groundless, Commerce Minister Wang Wentao said on Sunday in Paris. Wang made the remarks at a roundtable meeting of Chinese firms in Paris, where he is set to discuss China’s exports […]
Russian corp Rosatom says 3 hurt in Ukrainian attack on Zaporizhzhia plant
Russia’s nuclear power corporation, Rosatom, accused the Ukrainian military on Sunday of launching an unprecedented series of attacks on the Russian-held Zaporizhzhia nuclear power station and said three staff members were hurt, one seriously. In a statement on its website, Rosatom said radiation levels at the plant, Europe’s largest facility with six reactors, were normal […]
Adani to invest Rs 2.3 trillion in renewable energy, manufacturing capacity
Adani Group will invest about Rs 2.3 trillion through 2030 in India’s most ambitious renewable energy expansion and solar and wind manufacturing capacity addition ever as it shrugs off a short-seller attack to pursue its trademark rapid growth plans. Adani Green Energy Ltd, India’s largest renewable energy company, will invest about Rs 1.5 trillion in […]
Singh warns of debt trap for using borrowed money to give free electricity
Power Minister RK Singh has warned of a debt trap for states like Punjab using borrowed money to provide free electricity, saying such populist schemes are fine only if a state has finances. Electricity, like any other commodity, involves the cost of generating it, and if a state is to provide it for free to […]
Fire breaks out at NTPC’s Kanhia power plant, fire doused, no injuries
A fire broke out at NTPC’s Kaniha plant in Odisha’s Angul district on Saturday, fire service officials said. The fire broke out at 8.10 am in the coal transporting conveyor belt of the plant in the Talcher area of the district, they said. There was no report of any injury in the fire, they said. […]
JSW Energy announces completing Rs 5,000 cr QIP to fund growth plans
JSW Energy has raised Rs 5,000 crore through the Qualified Institutions Placement (QIP) route, said the power company late Friday. “The proceeds from the QIP will bolster an already strong capital structure even further, significantly enhance our financial flexibility, and enable us to accelerate our ambitious growth plans,” said Pritesh Vinay, director (finance) and chief […]
JSW Energy raises Rs 5K cr by selling shares to investors, including ADIA
JSW Energy Limited has raised Rs 5,000 crore by selling shares to institutional investors, including Abu Dhabi Investment Authority (ADIA), to accelerate its growth plans. In a regulatory filing on Friday, the company informed that it has successfully completed its Rs 5,000-crore Qualified Institutions Placement (QIP). JSW Energy said, the proceeds from the QIP will […]
Vistara cuts 10% daily flights in April to stabilise its operations
Vistara announced on Sunday that it will be cancelling 10 per cent of its daily flights in April to provide a ‘much-needed buffer’ in pilot rosters. The airline typically operates about 350 flights daily. Since April 1, Vistara has been compelled to cancel over 150 flights, reportedly due to a specific faction of pilots unexpectedly […]
Vistara to discuss rostering system with pilots, incorporate feedbacks: CEO
After facing significant flight disruptions due to the non-availability of crew, Vistara chief Vinod Kannan said the airline will look to review the current rostering system after discussions with pilots and emphasised that there has been no unusual spike in attrition. The Tata Group airline, which is in the process of getting merged with Air […]
Virgin Atlantic jet collides with another plane at Heathrow; no injuries
A Virgin Atlantic jet collided with another plane while it was being towed at Heathrow Airport on Saturday, aviation authorities said. There were no reports of injuries. Virgin said its Boeing 787-9 had completed a flight and had no passengers aboard when its wingtip clipped a stationary British Airways jet while being towed from a […]
Over 98% pilots signed new contract, ops to stabilise soon: Vistara CEO
Vistara CEO Vinod Kannan on Saturday said the airline hopes to stabilise operations for this month by this weekend and that more than 98 per cent of pilots have signed the new contract. The full service carrier faced significant disruption in operation earlier this week due to the non-availability of crew and many flights were […]