Sensing a global opportunity in the electric vehicles (EV) segment, Indian automotive ancillaries are shifting gears in sync with the trend, said a top industry sector official. Many of the players in the $46 billion (FY21) industry are also supplying to non-auto sectors like defence, railways and aerospace, Automotive Component Manufacturers Association of India (ACMA) […]
Category: Power
Power
Greaves Electric Mobility allots nearly 36% stake to investor Abdul Latif Jameel for its Rs 1,171 crore capital infusion
CHENNAI: Greaves Cotton subsidiary Greaves Electric Mobility has announced the completion of allotment of 68,35,450 equity shares of face value Rs 10 each representing 35.80% shareholding on a fully diluted basis, to global investor Abdul Latif Jameel, by way of preferential allotment through private placement basis. This follows the announcement earlier this month about capital […]
Homegrown EV charging network provider Statiq raises $26 million
Homegrown electric vehicle (EV) charging network provider Statiq on Thursday said it has received $25.7 million in a Series A funding led by Shell Ventures. The company will use the funds to invest in product engineering and network infrastructure as well as reinforcing the core team. “Securing the first closing of our Series A ensures […]
Ellysium Automotives launches two-wheeler electric brand EVeium
UAE-based META4 Group’s auto arm Ellysium Automotives announced the launch of its electric two-wheeler brand EVeium. The company said it is planning to launch three ‘Made-in-India’ e-scooters within one month, which will be manufactured at the group’s proposed Voltly Energy manufacturing facility in Zahirabad (Telangana) at a planned investment of Rs 250 crore. Voltly Energy […]
EVTRIC Motors launches e-bike priced at Rs 1.60 lakh
Mumbai, EV maker EVTRIC Motors said it has rolled out its first motorcycle priced at Rs 1.60 lakh (ex-showroom). It also announced commencement of bookings for the e-bike — EVTRIC Rise — with an initial payment of Rs 5,000 from June 22. The motorcycle, launched during the company’s dealers’ meeting in Rajasthan recently, has a […]
Citroen’s mini EV limited edition sells out in just 18 minutes
A limited edition of 50 Citroen mini electric cars sold out in less than 18 minutes, parent company Stellantis said, prompting the French brand to post a cheeky message to electric car pioneer Elon Musk. “Sorry Elon, the only way to get one is to buy us”, Citroen wrote on a billboard at Paris’ Gare […]
Electric vehicle sales could reach 33% globally by 2028, claims firm
Electric vehicle sales could reach 33% globally by 2028 and 54% by 2035, as demand accelerates in most major markets, consultant AlixPartners said on Wednesday. EVs accounted for less than 8% of global sales last year, and just under 10% in the first quarter of 2022. To support that demand, automakers and suppliers now expect […]
Electric automakers make last-ditch plea for more tax credits before U.S. election
Shifting political winds during the US November mid-term elections could spell trouble for automakers’ hopes of getting billions of dollars in consumer tax credits that would help the United States compete with Chinese and European rivals. General Motors Co, Ford Motor Co, Chrysler-parent Stellantis NV and Toyota Motor Corp have pledged to invest more than […]
Servotech develops solar performance monitoring device ComPort
Servotech Power Systems announced that it has developed a solar performance monitoring and controlling device called ComPort. The device will identify defects, issue notifications, diagnose issues and suggest O&M (operation and maintenance) tasks. Servotech Power Systems has developed a first-of-its-kind solar performance monitoring and controlling device in association with the German development agency Deutsche Gesellschaft […]
On-road hydrogen vehicles to cross 1 million globally by 2027
The number of hydrogen vehicles in service globally is likely to exceed 1 million in 2027, from just over 60,000 in 2022 — a substantial growth of over 1,500%, a new report showed on Monday. Hydrogen vehicles use hydrogen propulsion systems as their onboard fuel. The chemical energy of hydrogen and oxygen reacts with the […]
Power plant boost: Coal output up 31%
NEW DELHI: A 31% year-onyear increase in domestic coal production and 26% rise in loading of railway rakes in the April-May period have reversed the trend of woefully low fuel inventories at power plants. This has also prevented a prolonged power crisis. Coal ministry data on Sunday showed fuel stocks at power plants rising from […]
EV prices to be on par with cost of petrol vehicles within a year: Gadkari
NEW DELHI: The prices of all electric vehicles (EVs) will be equal to the cost of petrol vehicles in the country within one year, road transport and highways minister Nitin Gadkari said on Friday. Gadkari further said the government is promoting ethanol produced from crop residue instead of petrol and diesel. “I am trying…within one […]