Commerce and Industry Minister Piyush Goyal has visited the manufacturing facility of US-based electric vehicle major Tesla at Fremont, California and said that the company would be doubling its auto components imports from India. The minister is in the US on a four-day visit. The world's largest electric car producer Tesla Inc's chief Elon Musk met Prime Minister Narendra Modi in June in New York and after the meeting Musk had said that he planned to visit India in 2024.
The vehicle will not be available until end-2017, or later.
Model 3 received 180,000 orders worldwide.
American tech billionaire Elon Musk on Saturday said his proposed visit to India has been postponed due to "very heavy Tesla obligations". The electric carmaker Tesla CEO -- who was expected to be in India on April 21 and 22 and scheduled to meet Prime Minister Narendra Modi -- wrote on X that he is looking forward to coming to India later this year.
According to research by IHS Markit, for an ecosystem still grappling with infrastructure issues -- the high cost of EVs and a greater OEM (original equipment manufacturer) focus on electrifying two-wheelers and commercial vehicles first -- the share of such vehicles is expected to be 4 per cent by 2030, reports Pavan Lall.
A quarter of the car sales in China are of electric vehicles; domestic brands command 81% of EV sales in the country.
We no longer have the ambition to rival China save through words. We are happy to be fighting ourselves and digging up disputes from centuries ago as a substitute for real development, argues Aakar Patel.
India is sceptical that Tesla might import into the country cars made in China. Tesla executives were in India last month and appear to have proposed a factory in the country. But do not be surprised if that does not happen in a hurry.
As the Union government explores ways to restrict import of laptops and other electronic devices starting with a 5 per cent reduction from the current level, it is working to ensure that there's no supply disruption in India even if an import cap is introduced, it is learnt. The caveat assumes significance in the context of the government's announcement of its plan in August 2023 to issue licences for import of select IT hardware products to reduce the country's dependence on China.
Ola Electric has finalised its second phase of expansion, under which it will increase its plant capacity fourfold - from 1 million two-wheelers per annum to 4 million. This will also include motorcycles, said a top executive of the company. It will also build a plant with a 5 Gwh of advanced chemistry cell battery storage capacity in the same super factory located on the outskirts of Bengaluru.
Under the scheme, the government will provide financial incentives for each electric vehicle sold in India during the remaining part of the 11th Plan.
'Companies like Tesla and others have been given a long rope in India.'
Manufacturers of electric vehicles (EVs) have been lukewarm to the ad hoc subsidy scheme announced by the Centre for them. Sector majors have not been enthused by the lower level of incentives in the scheme, which has replaced the flagship Faster Adoption and Manufacturing of Electric (and Hybrid) Vehicles-II. Moreover, increased stringency in claiming subsidies and delays in disbursement have been cited by several original equipment manufacturers (OEMs).
Eicher Motors is a leader in the premium motorcycle segment, where it holds market share of over 85 per cent under the Royal Enfield (RE) brand. The company's joint venture VE Commercial Vehicles (VECV) with Volvo, where it holds 54.5 per cent stake, gives it a strong footing in commercial vehicles (CVs). The company had good results in FY23 and it has a strong balance sheet and good operating margins.
With US-based electric vehicle (EV) maker Tesla scouting for a suitable location for its foray in India, Rajasthan has joined the fray with a host of offers to woo the Elon Musk-led company. Other challengers include Gujarat, Tamil Nadu, and Maharashtra. Sources privy to the development said that an initial meeting between the senior executives of Tesla and the government of Rajasthan, which was held last week, turned out to be "quite positive." Tesla would now carry out a survey and is expected to share the survey details with the state's investment promotion department soon.
In 2025, India's tech job market is thriving, with tech professionals seeing a 9.5% salary increase and roles like AI/ML architects earning up to Rs 95 lakh annually.
The Trump trade shock is a chance to push long-overdue reforms, rather than tinker with tariffs to appease the US, suggests M Govinda Rao.
'We are seeing one of the highest discounts in recent years across companies.' 'October is a crucial month with several festivals coming up.'
Clean air needs action all year round; and that it will work only if we act jointly and at scale, asserts Sunita Narain.
The Centre on Wednesday scrapped the mandatory human safety tests for electric vehicle (EV) batteries required to qualify for incentives under various government schemes. The ministry of heavy industries, in its fresh guidelines, has made compliance with the ministry of road transport and highways (MoRTH's) prevailing EV battery testing standards the only requirement to get incentives under the Centre's various incentive schemes.
India stares at the risk of an influx of Chinese products as US tariffs on a range of Chinese goods, including solar panels, electric vehicles, lithium-ion batteries, syringes, and steel, are set to take effect from September 27. With higher tariffs reducing China's access to the US market, there is concern that China may divert its exports to other markets, including India, which could lead to potential dumping of goods. This situation could challenge Indian industries, particularly in sectors where competition with Chinese products is already fierce.
the largest transactions of the year include the merger of Quality Care India and Aster DM Healthcare valued at $5.08 billion, followed by Bharti Enterprises' acquisition of a 24.5 per cent stake in the BT Group at $4.08 billion, and a family settlement transaction in the Godrej family at $3.5 billion.
India's e-commerce market alone is projected to reach $200 billion by 2026, making it a prime industry for ambitious entrepreneurs, explains rediffGURU Harsh Bharwani.
A BEST electric bus, traveling at a speed of 46 kmph, collided with a crowd in Kurla, Mumbai, killing seven people and injuring 42 others. The driver, Sanjay More, has been arrested for reckless driving. The accident has raised concerns about speed limits and training for drivers of automatic transmission buses.
Tata Group on Wednesday announced an investment of 4 billion pounds (about Rs 42,500 crore) in setting up a flagship factory to make batteries for Jaguar Land Rover as well as other manufacturers. Tata Sons, owner of JLR, chose Bridgwater in Somerset in southwest England for the gigafactory over a rival location in Spain. The gigafactory, at 40GWh, will be one of the largest in Europe and Tata's first outside of India, the conglomerate said in a statement.
Mobile phones and TV sets manufactured in India would become cheaper with Finance Minister Nirmala Sitharaman announcing cuts in Basic Customs Duty (BCD) on import of their components but smokers would have to pay more as the government has increased taxes.
Subsidies have been stopped for several manufacturers that are under investigation for alleged violations of local-sourcing rules.
"Lady candidates need not apply." So read the postscript in a job notice from Telco (now Tata Motors) on a notice board in the corridors of the Indian Institute of Science, Bangalore (now Bengaluru), in 1974. Irked, Sudha Murty, who was then pursuing her masters in computer science at the institute, wrote a postcard to JRD Tata, expressing her surprise at this gender discrimination, especially since the Tata Group were pioneers on many fronts. Shortly, Murty became the first woman on the firm's shop floor.
Govt will save Rs 30,000 cr in fuel by giving Rs 14,000 cr subsidy to industry for making electric vehicles.
Automobile manufacturers, new and old, as well as ancillary suppliers are set to spend a combined Rs 70,630 crore over the next five years on either entering the electric vehicle segment or stepping up their presence in it. Data culled from announcements made by firms shows India, the world's fifth largest automobile market, is poised to receive one of the biggest capex pushes ever to fuel the transition from internal combustion engines to electric motors and batteries as part of a green drive. The EV push, egged on by the government's emphasis on electric mobility to meet its net zero targets, is expected to yield at least 25 electric vehicles - new ones as well as electrified versions of existing vehicles running on internal combustion engines.
Electric scooters suddenly catching fire has become a cause for concern of late.
The e2o is manufactured by Mahindra Reva Electric Vehicles.
While Maruti held the top spot for four decades, the Ambassador was the best-selling car in post-Independence India for three decades.
India's second-largest passenger vehicles firm will be valued at Rs 1.59 trillion at the top-end of the price band of Rs 1,865-Rs 1,960.
The BSA Gold Star is launched....Ola Enters e-motorbikes Biz... Bajaj, TVS To Enter e2Ws Market...
At Prestige Polygon Towers in Chennai's Teynampet, hectic preparations are on for a mega global investors' meet under the aegis of Guidance Tamil Nadu (the state investment promotion agency) scheduled for January 2024. Asked about the key focus areas of the meet, the agency's managing director and chief executive officer, V Vishnu, said the state was betting big on electric mobility. This is no surprise, given that the state has signed electric vehicle (EV)-related memorandums of understanding (MoUs) with several companies in the recent past that may bring in investments worth around Rs 33,000 crore with the potential to create over 43,000 job opportunities.
The stock of commercial vehicle (CV) company Ashok Leyland is up 46 per cent in the past three months, gaining despite worries about a slowdown in sales volume. Brokerages have a mixed view on the country's second-largest medium and heavy commercial vehicle manufacturer. The company reported steady March quarter results and its valuation, focus on growth and medium-term prospects are positive, but some brokerages are cautious, given near-term demand concerns and the risk of competition increasing in the industry.
Union Minister Nitin Gadkari on Tuesday said if the US-based Tesla is ready to manufacture its electric vehicles in India then there is 'no problem' but the company must not import cars from China. In an interactive session at the Raisina Dialogue, Gadkari further said India is a large market and there is a huge potential for all electric vehicles. "If Elon Musk (Tesla CEO) is ready to manufacture in India then there is no problem ... Come to India, start manufacturing, India is a large market they can export from India," he said. The road transport and highways minister said his request to Musk is to come and manufacture in India.
In its first official engagement with the Indian government, Elon Musk-led Tesla and other global automotive (auto) manufacturers sought clarification on the new electric vehicle (EV) policy, specifically regarding investment guidelines and the timeline for the domestic value addition (DVA) requirement. Officials who attended the meeting told Business Standard that the original equipment manufacturers (OEMs) tried to understand whether the complete investment would be made within three or five years and the duration they would have to achieve the 50 per cent DVA. "The consultation meeting was convened to address queries from auto OEMs.
Kolkata trams -- now in their 150th year -- are the last to survive modernity in Indian cities, writes Ishita Ayan Dutt.
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