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Hyundai Motor projects slower growth in 2024 on weak demand, macro uncertainties

Hyundai Motor projects slower growth in 2024 on weak demand, macro uncertainties

Thu, Jan 25, 2024

Hyundai reported a net profit of 2.2 trillion won ($1.7 billion) for the October-December period, up from 1.7 trillion won a year earlier.

Pilbara Minerals' Q2 revenue halves, focuses on cutting costs

Pilbara Minerals' Q2 revenue halves, focuses on cutting costs

Wed, Jan 24, 2024

Pilbara posted revenue of A$264 million ($173.71 million) for the quarter ended December 31, down from A$493 million in the previous quarter.

Solid state: EV giants chase 'holy grail' of batteries

Solid state: EV giants chase 'holy grail' of batteries

Tue, Jan 16, 2024

The company says it aims to build a gigafactory for its new batteries by 2029 and has signed a joint development agreement with BMW.

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Samsung SDI, Stellantis choose Indiana for second joint EV battery plant

Samsung SDI, Stellantis choose Indiana for second joint EV battery plant

Wed, Oct 11, 2023

The first joint plant is set to start production in the first quarter of 2025 and the second joint plant targets a start in early 2027.

Carmakers apply for French EV subsidies under more stringent rules

Carmakers apply for French EV subsidies under more stringent rules

Tue, Oct 10, 2023

Automakers will from Tuesday submit the specifications of their electric vehicles to French authorities in the hope they can continue to benefit from subsidies under new conditions that are likely to edge out many Chinese models.

Vitesco shares soar on 3.64 billion euro Schaeffler deal

Vitesco shares soar on 3.64 billion euro Schaeffler deal

Mon, Oct 09, 2023

The offer, which Schaeffler expects to close by January 2024, will not be subject to a minimum acceptance rate, it added.

Nissan recalls over 9K EVs over a software defect

Nissan recalls over 9K EVs over a software defect

Mon, Oct 09, 2023

Nissan issued a recall notice for more than 2,36,000 small cars in the US due to a potential issue leading to a loss of steering control.

Evergrande's $500 million EV share deal suspended, stock to resume trading

Evergrande's $500 million EV share deal suspended, stock to resume trading

Mon, Oct 09, 2023

The suspension of the share subscription deal was due to "significant uncertainties" tied to the Evergrande group, the filing by the Chinese firm said.

Tesla's China-made EV sales volume falls 10.9% year-on-year in September

Tesla's China-made EV sales volume falls 10.9% year-on-year in September

Sun, Oct 08, 2023

The company missed market estimates for third-quarter global deliveries on October 2 as planned upgrades at its factories to roll out a newer version of the Model 3 mass-market sedan forced production halts.

EV maker Rivian plans $1.5 billion convertible bond sale, shares fall

EV maker Rivian plans $1.5 billion convertible bond sale, shares fall

Thu, Oct 05, 2023

Rivian's bond will mature in October 2030 and investors will have the option to convert the bonds into cash or shares in the company, it said in a filing.

Tamil Nadu accounts for sale of 4 lakh EVs in country between January-September 2023

Tamil Nadu accounts for sale of 4 lakh EVs in country between January-September 2023

Mon, Sep 25, 2023

Electric vehicle makers that contributed to the sales in Tamil Nadu (between January and September) include -- Ola Electric with 1,75,608 lakh units, followed by TVS Motor at 1,12,949 lakh units.

EV firm Ather Energy's losses swell 2.5 times to reach Rs 865 crore in FY23

EV firm Ather Energy's losses swell 2.5 times to reach Rs 865 crore in FY23

Sun, Sep 24, 2023

Founded in 2013 by IIT Madras alumni Mehta and Swapnil Jain, Ather is backed by Hero MotoCorp, GIC, NIIF, Sachin Bansal, and Tiger Global.

App-based platforms, aggregators changing experience of intercity travel

App-based platforms, aggregators changing experience of intercity travel

Sun, Sep 03, 2023

With the rise of app-based platforms and aggregators, the way people book and experience intercity travel is evolving.

Vinfast rallies on after becoming world's third-most valuable automaker

Vinfast rallies on after becoming world's third-most valuable automaker

Tue, Aug 29, 2023

Vinfast expects to sell as many as 50,000 electric vehicles this year, compared with Tesla's projection to deliver 1.8 million cars.

China's Xpeng to acquire Didi's smart EV unit in deal worth up to $744 million

China's Xpeng to acquire Didi's smart EV unit in deal worth up to $744 million

Mon, Aug 28, 2023

Didi said it will support the launch by "providing access to its mobility market" and the two companies will explore strategic cooperation in a number of areas, including marketing, financial and insurance services.

EV maker BYD buys Jabil's China manufacturing business for $2.2 billion

EV maker BYD buys Jabil's China manufacturing business for $2.2 billion

Mon, Aug 28, 2023

Jabil Circuit (Singapore), which manufactures printed circuit boards, established a unit this month with product manufacturing business in Chengdu and Wuxi, which will now be sold to the Chinese EV maker.

Government considering EVs for priority sector lending, official says

Government considering EVs for priority sector lending, official says

Sun, Aug 27, 2023

Allowing financing of electric vehicles under priority sector lending would reduce the cost of finance and could lead to their wider adoption.

With margins back to pre-covid level, Hero MotoCorp targets enhanced market share, biz growth

With margins back to pre-covid level, Hero MotoCorp targets enhanced market share, biz growth

Sun, Aug 20, 2023

The country's largest two-wheeler maker is also looking at enhancing production capacity to roll out Harley-Davidson X440 which has already received over 25,000 bookings.

Ola Electric eyes higher sales with affordable e-scooters

Ola Electric eyes higher sales with affordable e-scooters

Tue, Aug 15, 2023

The government wants this to grow to 70 per cent by 2030 and is offering incentives to boost sales.

UP govt, Servotech sign MoU to set up EV charger manufacturing plant

UP govt, Servotech sign MoU to set up EV charger manufacturing plant

Sun, Aug 13, 2023

The plant will also create direct employment for more than 500 people. The facility will likely become partially operational in the first quarter of FY2025.

South Korea's Hyundai to launch more EVs in India

South Korea's Hyundai to launch more EVs in India

Wed, Aug 09, 2023

Hyundai has already laid out plans to invest $2.45 billion to beef up EV production in the country and is bullish on the local appetite for EVS.

Accelerating the EV with M&M: Partnering with Major Investors for a High-Voltage EV Strategy

Accelerating the EV with M&M: Partnering with Major Investors for a High-Voltage EV Strategy

Mon, Aug 07, 2023

Electric speed in M&M EV with big investors M&M's megaplan on #EV increased brokerage's trust on M&M

Kinetic Engineering sets up new firm to make EV motors, controllers and batteries

Kinetic Engineering sets up new firm to make EV motors, controllers and batteries

Sun, Aug 06, 2023

The new firm is 92 per cent owned by the Aurangabad-based parent firm and the rest 8 per cent is held by the Firodia family.

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