Ex-AAP strategist Shefali Misra to join Uber as head of public policy
There is also lack of mandate from the government on adoption of electric mobility after ambitious talks of moving all new automobile sales to electric by 2030
Bangalore-based Reva Electric Car Company, one of the world's most recognised electric car manufacturing companies, may see a change of ownership, with its current promoters holding talks with an international automotive investor for a sell-out.
The 2-door vehicle may finds its way back in India with the launch of the all-new Thar by Mahindra and Mahindra, says Rajesh Karkera.
Reva, which had recently entered into an agreement with General Motors India for launching electric version of the compact car Spark, said it was also open to partnering other companies.
The ongoing key reforms such as sops for manufacturing, easier labour laws, wooing FDI inflows and privatisation will help improve productivity and support long-term growth at 7.5-8 per cent levels, which if played out well, can help India contribute 15 per cent of global GDP growth by FY2026, says a report. According to a report pencilled by the India economist at UBS Securities, Tanvee Gupta Jain, the country has the lowest manufacturing costs among peers, even though China retains significant ecosystem advantages and despite that India and Vietnam appear most likely to benefit from a shift out of China.
It is keen on electric cars as battery costs go down
While the value of the deal could not be ascertained, it is estimated that it could be around $100 million (Rs 450 crore approximately).
Electric car manufacturer Reva is planning manufacturing facilities abroad under a franchise model to penetrate those markets.
Known for its phones and emerging from nowhere in the segment, it might take on the scooter Goliaths.
Chetan Maini names the company Reva, after his mother. Over the next seven years, Maini and his men research electric cars, register five patents and try to develop insights into the consumer's mind.
India's electric mobility goal, which has so far been riding on two wheels, is all set to graduate to four wheels. At least, the journey has begun. Hyundai Motor India said it would invest Rs 4,000 crore till 2028 to launch half-a-dozen electric vehicles (EVs) in India. It would eventually straddle premium and mass segments. The first of these - the electrified version of an internal combustion engine (ICE)-powered model - will go on sale as early as next year.
If the drop in sales over the past two years is anything to go by, India's dream of putting seven million electric vehicles on road by the end of this decade has come a cropper.
Joint crack team of Maruti, Tata Motors, M&M to develop hybrid cars in India
Bangalore-based Reva Electric Car Company, two-wheeler maker Bajaj Auto and Tata Motors are finalising plans to launch electric vehicles in Europe and the US to take advantage of subsidies these countries are offering as part of their environmental agendas.
With only a handful of models by a few manufacturers including Tata Nexon, MG ZS, Hyundai Kona, among others, the segment has remained under tapped.
Tesla's Model 3 sedan, scheduled to roll out later this year, will be critical to founder Elon Musk's ambitions to transform his company from a niche car-maker into a mass-market manufacturer.
With 100 new car models, the 84th Geneva Motor Show has a lot to offer for car enthusiasts.
The letter "o" continues to play a superstitious role in Mahindra & Mahindra (M&M's) car launches, as the name of its first electric car after the acquisition of Reva showed.
India's first electric car, Reva,is set to roll into Israel soon as a leading firm of the country has been granted the franchise to import the battery-operated vehicle, a media report here said.
IPO-bound mobility platform Ola, said it has successfully raised $500 million via a Term Loan B (TLB) from marquee international institutional investors. This term loan has no impact on the valuation of Bhavish Aggarwal-led Ola. The Bengaluru-based firm recently raised $139 million. This is part of a $1 billion funding round for which the company is in talks with investors, increasing its valuation to about $7.5 billion, according to the sources.
Korea Advanced Institute of Science and Technology has developed the car.
Emission norms for automobile industry should be tightened.
Customers won't shift to electric cars until there is countrywide infrastructure for charging stations, which should be as spread out as petrol pumps now. Two, the price of the lithium ion battery, which constitutes 30 to 40 per cent of the cost of an electric car, has to fall substantially, so that the vehicle is as affordable as a gasoline one.
The Pune-based research institute will design and develop car batteries and offer the technology for mass production.
Elon Musk's likely referring to waiver of 30% local sourcing norm for setting up single-brand retail
SoftBank-backed Ola Electric took the wraps off its maiden e-scooter offerings -- Ola S1 and S1 Pro -- for a commercial launch on Sunday. With prices starting from Rs 99,999 (excluding state government incentives, registration fee, and insurance cost), the Bhavesh Aggarwal-founded firm said the e-scooters are designed and engineered in India for the world and will deliver the best scooter experience to the consumer. He suggested that after 2025, sale of petrol-powered two-wheelers should not be allowed.
This comes at a time when Ola is looking to replicate nationally the success of its auto-rickshaw offering in Chennai and Bengaluru.
A hike in cess on luxury cars will not only hinder Jaguar Land Rover's network expansion but also prevent it from introducing new technologies in India, JLR India managing director Rohit Suri tells Shubham Parashar in an interview.
A US-based startup has unveiled an electric sports car that costs Rs 74 lakh and has a top speed of 250 kmph.
The promoters of Bangalore-based Reva Electric Car Company are in talks with global private equity investors to raise Rs 75 crore (Rs 750 million) by offloading 15 per cent equity, its managing director Chetan Maini said.
After positioning itself as a niche product in the passenger car segment, Bangalore-based Reva Electric Car Company is looking at using the technology for the production of mini-buses and taxis.
After creating a niche for itself by making the country's only electric car, Reva Electric Car Company is all set to raise about Rs 70 crore (Rs 700 million) through private equity infusion to fuel its expansion into other segments like mini-buses an
Chappell said 'the skill level of Indian youth teams would embarrass some of our first-class teams'.
Apple's head of mergers and acquisitions, Adrian Perica, met with Tesla Motors Inc founder Elon Musk at the company's headquarters last year around the same time analysts suggested that Apple acquire the Model S electric car maker, the newspaper reported on Sunday.
The compact sleek car with no grille features a roof that is a panoramic pane of glass from front to back.
Gujarat, Telangana to roll out policies to encourage manufacturing
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