Exide Industries Q4 profit jumps 37% on recovery in OEM demand, replacement market and EV battery initiatives

Exide Industries delivered a strong Q4 performance. It’s net profit increased 37% YoY to Rs 284 crore from Rs 208 crore in Q4FY23,. Its Q4FY24 revenue came in at Rs 4,009 crore, up 13% YoY from Rs.3,543 crore in Q4FY23. The Q4 performance was powered by strategic initiatives to boost sales and control costs and […]

BII commits $19 to charge zone for EV infrastructure

Charge Zone has secured a $19 million (Rs. 1.58 crore) commitment from British International Investment (BII), the UK’s development finance institution (DFI) and impact investor. This investment marks a milestone in Charge Zone’s mission to revolutionize electric vehicle infrastructure in India. It aims to facilitate the seamless transition to electric mobility for commercial fleets operating […]

IOC arm to build 1 GW RE capacity, invest Rs 5,215 crore

Indian Oil Corp (IOCL) plans to invest Rs 5,215 crore in building 1 gigawatt (GW) of renewable energy capacity including standalone ground mounted solar projects or standalone onshore wind or wind-solar hybrid projects. The company’s board approved the investment plan on Tuesday stating that the projects will be implemented by IOC’s proposed wholly owned subsidiary […]

New-age technologies paving the way for smarter and sustainable mobility solutions

Until a few years ago, commuting had several challenges: boarding overcrowded buses, manually searching for an auto on the road, negotiating a fair price, etc. However, today, commutation has transformed immensely, enabling us to book a ride digitally and travel with comfort. Moreover, features like live GPS tracking, predicting accurate ETAs, Maps integration for traffic […]

Unlocking the Potential of Micro-Mobility: Examining the Impact of E-Scooters and Bike-Sharing Programs

“EV charging is not just about powering vehicles; it’s about powering the future of transportation. By providing innovative charging solutions, we are not only reducing emissions but also paving the way for a sustainable and accessible mobility ecosystem.” – Harry Bajaj, CEO of Mobec Innovation – EV Charging Solutions. In recent years, micro-mobility has emerged […]

Auto parts makers to inject Rs 25,000 crore for EV biz: ICRA

To support India’s journey to electrification, auto component makers will make investments of Rs 25,000 crore in 3-4 years to make components for the electric vehicle industry. This capital expenditure will be used for capacity building, technology and product enhancements, research and rating agency ICRA said on Tuesday. About 45-50% of this, would be towards […]

Pavna Industries to supply ignition switches and latches to Ola Electric

Pavna Industries has announced that it has inked an agreement with Ola Electric to supply ignition switches and latches. This contract further consolidates the company’s foray into the two-wheeler electric vehicle segment. Under this agreement, Pavna Industries commits to providing high-quality ignition switches and latches to Ola Electric across its manufacturing plants in India. Commenting […]

Macquarie to invest $1.5 bn in EV leasing, charging infra

Macquarie Asset Management (MAM) on Monday launched Vertelo, a platform to provide end-to-end solutions in fleet electrification, and committed to invest $1.5 billion over 10 years in India. The company aims to accelerate the transition of fleets to EVs and build an ecosystem by offering leasing, financing, charging infrastructure, fleet management services and end of […]

Sona Comstar inaugurates new plant in Mexico to serve Northern America EV market

Sona Comstar has opened a new manufacturing unit in the Fipasi Industrial Park, Silao, Mexico. This strategic expansion aims towards meeting the growing demand for high-quality driveline solutions for Battery Electric Vehicles (BEVs) in North America. This facility in Mexico will be equipped with advanced manufacturing technologies, adhering to the highest quality and safety standards. […]

How can India accelerate the adoption of green hydrogen?

India stands at a critical juncture in its energy transition, with green hydrogen emerging as a transformative solution to mitigate environmental impact and foster sustainable development. Green hydrogen, produced through electrolysis using renewable energy sources like solar and wind power, has garnered global attention as a clean and versatile energy carrier. India’s abundant renewable resources […]