Bhavish Aggarwal, the founder of ride-hailing firm Ola who disrupted the electric scooters market in the country, is planning to launch an electric sports car in 2024. The plan will put it in competition with Indian players, such as the Tata group and Mahindra & Mahindra, and global giants like Tesla and Hyundai. Aggarwal, recently, took a group of reporters to the firm's design studio at the Ola campus in Bengaluru where his teams are working on several EVs, including scooters, motorcycles, sedans, and SUVs - and even robotaxis.
Making it clear that relaxations will not be provided to US-based electric vehicles major Tesla unless it participates in manufacturing activities in India, Union Minister Krishan Pal Gurjar on Tuesday said there cannot be a situation where the market is India but jobs are created in China. The minister of state for heavy industries also told the Lok Sabha during Question Hour that the company is yet to apply for schemes as per the government's policy. Last year, the Elon Musk-led company sought a reduction in import duties on electric vehicles (EVs) in India but the Ministry of Heavy Industries asked the firm to start manufacturing its iconic EVs in the country before any tax concessions can be considered.
According to reports, by last year, the company has helped its customers save 15 per cent on costs -- around 5-6 per cent on fuel and 15 per cent on fleet utilisation through digital measures.
The investment will be made through a joint venture with Toshiba and Denso. The battery is the most expensive single part of an EV.
Future strategy will not just revolve around EVs: Maruti Suzuki's Ayukawa. Maruti Suzuki's MD&CEO says electric vehicles cannot be a solution outside the cities.
Tata Power on Saturday said it has inked a pact with IIT Delhi to work together on clean energy and other projects that can be transformed from research and development level to pilot stage. Tata Power, one of India's largest private sector integrated utilities, and the Indian Institute of Technology (IIT) Delhi have signed a Memorandum of Understanding (MoU) to collaborate in areas like smart grid technology, clean energy solutions, a company statement said. Considering the large number of experts with their excellence in different fields in IIT Delhi and Tata Power, there is an immense potential to collaborate between academia, research and domain experts from business with a high transformational impact, it added.
Faced with one setback after another in expanding the scope of mining in the country, almost all the major miners of the world have wound down their operations in India.
They will not be followed by analysts and no fund manager can buy such small companies with low trading liquidity.
Large companies, those that are talked about in the media and tracked on social media, have already been discovered. They won't lead to extraordinary gains, Debashish Basu points out.
The Union Cabinet on Wednesday approved a Rs 26,058 crore production linked incentive (PLI) scheme for auto, auto-components and drone industry to enhance India's manufacturing capabilities, Union Minister Anurag Thakur said on Wednesday. The PLI scheme will incentivize the emergence of advanced automotive technologies' global supply chain in India.
A series of flip-flop on policies and a non-existent charging infrastructure are the biggest challenge in achieving the target of selling 6-7 million hybrid and electric vehicles by 2020.
The number of participating automakers has fallen from 50 in 2018 to 30 this year. The count of exhibitors, including technology companies, has come down from 119 to 112. And showstopper luxury and supercar brands, including Toyota, Jeep, Lamborghini, Porsche, and Volvo will be missing. Similarly, the commercial vehicle makers also gave the show a miss -- a prolonged economic slowdown has dented their fortunes and near chances of any recovery.
Eyes investments of Rs 31,000 cr in research and manufacturing of electric vehicles
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.
Emissions would still keep rising till 2030, and the path towards global warming would improve to 2.7c.
What will it take for Tesla to plug and play in India? Sector pundits say it's a mix of strategy, getting the price right, timing, the right talent, and above all, patience.
As a tech services company, Ola has never been in hardcore manufacturing. And unlike in ride hailing, which is a two-player market (Uber is the only other competitor), in two-wheelers it faces many entrenched players. But most of all, rivals say Ola's targets are out of sync with most, even ambitious, projections.
India's largest oil firm IOC will build the nation's first 'green hydrogen' plant at its Mathura refinery, as it aims to prepare for a future catering to the growing demand for both oil and cleaner forms of energy. Indian Oil Corporation (IOC) has drawn a strategic growth path that aims to maintain focus on its core refining and fuel marketing businesses while making bigger inroads into petrochemicals, hydrogen and electric mobility over the next 10 years, its chairman Shrikant Madhav Vaidya said. The company will not set captive power plants at all its future refinery and petrochemical expansion projects and instead use the 250 MW of electricity it produces from renewable sources like solar power, he told PTI in an interview.
'It is going to be extremely rapid and anybody who is not there, be it investor, manufacturer, supplier, will miss out.'
Ashish Narsale/Rediff.com brings you some of the innovative cars presented at the latest edition of the Consumer Electronics Show.
Maruti will showcase its first concept electric vehicle, the e-SURVIVOR; M&M it's six new EVs, including two futuristic concepts
New electric and hybrid vehicles on display as manufacturers plug into environment-friendly segment.
The new Honda Accord Hybrid combines two worlds to offer a fitting blend of power and fuel efficiency.
10 stocks which are most popular with brokerages right now and are expected to deliver maximum upside over the next 12 months.
M&M also showcased its new format next generation 'dealership of future' designed by Pininfarina.
The impact for all electric two-wheelers, which are imported mostly from China, is that it will lead to price escalation that will be passed onto customers.
A mix of industrialists and businessmen, who have inherited riches or rose from humble backgrounds and even endured boom and bust cycles, the top five MPs are illustrative of how the political stock of the wealthy is increasing rapidly.
New Creta, petrol Vitarra Brezza.. A quick look at what went down at Auto Expo Day 2.
A rich blend of technology and earthy materials giving the Lexus NX 300h a unique look.
Automobile dealers' body FADA said the Budget lacked immediate demand boosters for the automobile industry.
Four years after entering Formula E racing, Mahindra comes out with a racing car designed for the e-racing circuit. Rajesh Karkera/Rediff.com reports.
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 US has been, historically, a sleeping partner in India-China relations. Today, any attempt by the Modi government to make a bilateral move to improve relations with Beijing could upset Biden's apple cart, notes Ambassador M K Bhadrakumar.
Unlike previous Paris auto shows, where new diesel models took centerstage, much of the buzz this year centred around hybrids and electric vehicles.
Lexus continues its hybrid offensive in the country with the new NX midsize luxury SUV that eyes the popular Mercedes-Benz GLC and the Range Rover Evoque, among others
