A made-in-China electric vehicle will hit U.S. dealers this summer offering power and efficiency similar to the Tesla Model Y, the world’s best-selling EV, but for about $8,000 less. The EX30 from Volvo Cars, the Swedish luxury brand owned by China’s Geely , foreshadows the fierce competitive threat U.S. automakers could face from Chinese EV […]
Day: April 25, 2024
Billionaire Zoho CEO Sridhar Vembu, one of the richest Indians, now owns an electric three-wheeler
Indian business mogul Sridhar Vembu recently caused a stir on the internet after he showcased his latest wheels – an electric three-wheeler. Sridhar Vembu is the chief executive officer (CEO) of Zoho Corporation. The Padma Shri Awardee, who is the 55th richest person in India with a net worth of $3.75 billion according to Forbes, […]
China’s EV survival game creates peril — and power
BEIJING: By most measures, the last thing China needs is more electric cars crowding a market with more losers than winners, driving down prices at the expense of profit and taking the fight for market share beyond China. And that’s just what it is getting.
Offshore wind capacity of 1GW may be auctioned in first 100 days of new govt
India could bid out 1 GW of offshore wind capacity under the viability gap funding (VGF) scheme and issue guidelines to implement the PM-Surya Ghar Muft Bijli Yojana within 100 days of the next government taking charge, people familiar with the matter said. Financial assistance for 1 GW offshore wind energy projects was announced in […]
Naveen Jindal group plans Rs 15,000-crore green energy push
The Naveen Jindal group is finalising a Rs 15,000-20,000 crore investment plan for the development of renewable energy projects which could become a source of captive clean fuel for its expanding steelmaking operations, said people with knowledge of the matter. Jindal is the promoter of the listed Jindal Steel and Power, which has announced a […]
Grew Energy bags order to supply 200 MW solar equipment
Grew Energy on Wednesday said it has bagged an order to supply 200 MW of solar modules. The company has secured the project under an auction process conducted by Solar Energy Corporation of India (SECI), it said in a statement. “Grew Energy secures 200 MW of SECI’s 400 MW solar PV module auction. Grew amongst […]
IGX launches ssLNG contracts, to take gas availability beyond national grid
New Delhi: Close on the heels of receiving approval from the Petroleum and Natural Gas Regulatory Board (PNGRB), the Indian Gas Exchange (IGX) has launched contracts for small-scale Liquefied Natural Gas (ssLNG) on its platform in a bid to address the demand for fuel in areas not connected to the national gas grid. “The introduction […]
GAIL plans to expand LNG trading business to global markets
India’s top gas marketer GAIL aims to become a global liquefied natural gas (LNG) trader as the expanding market fuels new business opportunities. “We plan to ramp up our LNG trading business. We began with sourcing LNG cargoes for ourselves and have expanded to sourcing cargoes for some other Indian companies. Now we plan to […]
REC to extend term loan of Rs 1,869 cr for Kiru Hydro Electric Project in Kishtwar
REC Limited, a Maharatna Central Public Sector Enterprise and an NBFC under the Ministry of Power has signed an agreement with Chenab Valley Power Project Private Limited (CVPPPL), under which REC will provide CVPPL with the financial assistance of Rs 1,869.265 crores as term loan.
NTPC-NPCIL JV may invite bids for work on Rajasthan nuclear power unit this FY
NTPC Ltd and Nuclear Power Corporation of India, through joint venture Anushakti Vidhyut Nigam Ltd, are looking to invite bids for works of 2,800-MW Mahi Banswara Rajasthan nuclear power project in this financial year in line with the government’s aim to speed up nuclear power generation. “The proposal has been sent to the Atomic Energy […]
Railways working on Amrit Yard model to decongest junctions, chokepoints
After Amrit Bharat stations and trains, the Ministry of Railways is now working on the Amrit Yard concept to decongest saturated yards on the railway network, which have been impacting the speeds and movement of trains, despite track expansion works undertaken in the past years. The ministry has set up a committee consisting of senior […]
CPCL Q4 results: Net profit falls 39% to Rs 628 cr on foreign exchange loss
Chennai Petroleum Corporation Ltd, a subsidiary of Indian Oil Corporation (IOC), on Wednesday reported 39 per cent drop in March quarter net profit on lower prices and foreign exchange loss. Consolidated net profit of Rs 627.89 crore in January-March FY24 was lower than Rs 1,012.81 crore earning in the same period last year, according to […]