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    VCs chase auto parts makers to hitch a ride on EV journey

    Smaller component makers for electric vehicles (EVs), many of which started with other businesses before pivoting to their current business mainstays, are increasingly attracting interest from venture capital firms amid a boom in EV sales. The boom in EV sales, as demonstrated in the sales of passenger EVs jumping 91% and of commercial EVs tripling year-on-year (YoY) in FY24, has meant that the demand for parts has also soared.

    VCs chase auto parts makers to hitch a ride on EV journey

    Smaller component makers for electric vehicles (EVs), many of which started with other businesses before pivoting to their current business mainstays, are increasingly attracting interest from venture capital firms amid a boom in EV sales. The boom in EV sales, as demonstrated in the sales of passenger EVs jumping 91% and of commercial EVs tripling year-on-year (YoY) in FY24, has meant that the demand for parts has also soared.

    Confident of over $800 billion exports in goods, services this fiscal, says Piyush Goyal

    India recorded a current account surplus of USD 5.7 billion or 0.6 per cent of GDP in the March quarter. This is the first time in ten quarters that the crucial metric of the country's external strength has turned into surplus mode. In the year-ago period, the current account deficit stood at USD 1.3 billion or 0.2 per cent of GDP, and the same was USD 8.7 billion or 1 per cent of GDP in the preceding quarter ending December 2023.

    73% IPOs trading above issue price as primary market shines in H1, four turn multibaggers

    The fundraising of Rs 26,272 crore, however fell short of the previous two years likely due to the absence of mega issues. Investors' reception also remained positive with only one failed IPO.

    VinFast making a tiny EV for about Rs 8 lakh to change its fortunes. Is it coming to India?

    Designed specifically for the Vietnamese and other Asian markets, the VF3 is priced for "mass appeal", according to VinFast. The VF3 might also appeal to Indian families looking for a compact car with a range suitable for getting around in India's crowded cities.

    BIS introduces new safety standards for EVs in India

    Bureau of Indian Standards (BIS) introduces safety guidelines for electric vehicles in India, focusing on powertrain components. New rules, IS 18590: 2024 and IS 18606: 2024, aim to enhance safety in L, M, and N vehicle categories.

    • EV startup River, battery firm IBC to invest in rural Bengaluru district

      Bengaluru's River and International Battery Company's investments in Bengaluru rural district to create jobs and revolutionize electric mobility, supported by global investors.

      BPCL retail outlets will act as EV hubs to purchase, test ride & experience electric scooters

      BPCL has teamed up with Bounce Infinity, an Indian electric scooter manufacturer, to accelerate EV adoption in India by launching "eDrive stores" at BPCL retail outlets. These stores aim to make electric two-wheelers more accessible nationwide. Pardeep Goyal, BPCL's Business Head of Retail, highlighted the initiative's role in supporting sustainability goals and transforming fuel stations into versatile energy hubs.

      How to maximise your electric vehicle's battery lifespan: Tips and tricks

      Maximizing the lifespan of EV batteries is crucial for cost-effectiveness and environmental sustainability. Essential tips include avoiding deep discharges, regular use, and proper charging practices.

      Uber's electric vehicle service, Uber Green arrives in Kolkata

      Uber launched its electric vehicle service, Uber Green, in Kolkata, offering users on-demand EV rides across the city, including to and from the Kolkata International Airport. The initiative aims to improve air quality in the city and reduce carbon emissions. Uber plans to provide zero-emission services globally by 2040, with approval from the Science Based Targets Initiative. Uber India and South Asia President, Prabhjeet Singh, highlighted the company's commitment to expanding green transportation options in India.

      eBikeGo plans to expand e-two-wheeler fleet to 1 lakh units by FY26

      eBikeGo, under the leadership of founder and CEO Irfan Khan, plans to expand its e-two-wheeler fleet to 1-lakh units by FY26, targeting the growing last-mile and e-commerce segment.

      India-UK FTA talks: Pending issues to be resolved after UK polls

      The issues that need to be ironed out include duties in sectors like electric vehicles, alcoholic beverages and services. General elections in the UK will be held on July 4.

      Budget-day release for FAME-III; Indian VCs need to pivot

      Measures to boost the sale of electric vehicles are likely to be announced in the upcoming budget. this and more on today’s ETtech Top 5.

      View: EV financing should be cheaper than ICE financing

      The financial infrastructure for commercial vehicles is built around ICE vehicles, hindering EV adoption. EV financing faces challenges due to uncertain residual value, battery concerns, and higher interest rates. Small operators struggle with higher EMIs, but a new battery-as-a-service model could make EV financing cheaper and more flexible.

      Expo Centre Sharjah signs agreement to launch Middle East Electric Vehicle Show 2025

      Expo Centre Sharjah (ECS) has forged a strategic partnership with MIE Events to debut the Middle East Electric Vehicle Show (MEEVS) in 2025 at the Centre. This groundbreaking agreement paves the way for the region's premier electric vehicle event, set to feature over 100 leading global brands. MEEVS aims to spotlight the future of sustainable transportation by showcasing cutting-edge electric, hydrogen, and hybrid vehicles, as well as electric bikes, and innovative technologies in the electric transport sector.

      How electric car batteries might aid the grid (and win over drivers)

      New technology could transform expensive electric car batteries into assets for owners, offering benefits like reduced utility bills and free parking. Automakers like Ford, GM, and BMW are exploring using electric car batteries to store excess renewable energy, creating a potential new revenue stream.

      Mirae Asset Mutual Fund files draft document with Sebi for Nifty EV & New Age Automotive ETF

      Mirae Asset Mutual Fund has filed a draft document with SEBI for India's first ETF focused on Electric Vehicles (EV) and New Age Automotive. The fund will track Nifty EV & New Age Automotive Index.

      Adani One superapp clocked gross sales of Rs 750 crore in FY24

      According to the 2023-24 annual report of the Ahmedabad-based conglomerate's flagship company Adani Enterprises, the user base of the superapp grew to 30 million at the end of the financial year. The company aims to expand the superapp's customer base to 400 million by 2030. Adani group is also in discussions with Paytm for potentially acquiring a stake in the fintech firm.

      Hybrid vehicles aren't just bridge to EVs, Ford chief says

      Ford CEO Jim Farley emphasized the importance of hybrid vehicles as a long-term solution rather than just a transitional technology during a recent Bernstein analyst conference. Farley expressed his belief that plug-in hybrids may become irrelevant in the near future, but extended-range hybrids will play a crucial role in the industry's future. Despite the surge in demand for hybrid vehicles over the past year, automakers have been scaling back on their electric vehicle (EV) investments.

      NSE Indices launches India’s first electric vehicle index

      NSE’s index services subsidiary, Nifty EV & New Age Automotive index, will track the performance of companies forming a part of the EV ecosystem. With the base date fixed on April 2, 2018, and the base value at 1,000, the index will be reconstituted semi-annually and rebalanced on a quarterly basis.

      How China's EV makers aim to beat Tesla, legacy automakers in Europe

      Chinese EV titans BYD, Chery and Great Wall Motor (GWM) are preparing a fusillade of product launches - about 20 over the next five years - and spending heavily on sales and marketing in their most important export market.

      FAME 3 rollout soon; Euler Motors fundraise

      The next edition of the electric vehicle incentive scheme is likely to be unveiled within months of the new government taking charge. Details on this and more in today's ETtech Top 5.

      Zypp Electric raises $15 million from Japanese firm Eneos for India expansion

      Zypp Electric confirmed funding from Eneos as part of a larger $40 million round. Existing investors like 9unicorns and IAN also participated in the fundraising. The company's revenue increased threefold to Rs 325 crore in 2023-24.

      Tata Power-DDL, India Smart Grid Forum tie up for vehicle-to-grid technology demo project

      Tata Power Delhi Distribution partners with India Smart Grid Forum for Vehicle-to-Grid Technology Demonstration Project, exploring EVs' grid services, backup power, and carbon emissions impact. The project involves stakeholders like Delhi Electricity Regulatory Commission, Central Electricity Authority, Tata Motors, and the University of Delaware, USA. Key figures include Gajanan S. Kale and Reji Kumar Pillai.

      Domestic copper at lifetime highs; factors affecting the price surge

      Record copper prices are driven by Chinese stimulus, mine supply concerns as well as green demand. MCX and LME futures surge. The Chinese 1 trillion yuan stimulus has boosted industrial metals demand for electric vehicles, renewable energy, and power grids. Goldman Sachs predicts major copper market deficit with US manufacturing rebound.

      M&M is wheeling big money into business. What is the plan?

      Mahindra & Mahindra had outlined a new strategy for the coming five years with a focus on capitalizing on its market leadership in segments like SUVs, tractors and pickup trucks while scaling its growth-phase businesses five-fold during this period.

      The rising role of software in electric vehicles

      Altigreen enhances 3Ws with software for battery management, motor control, diagnostics, telematics, user interface, and energy-saving algorithms. Data monetization and government support may offset costs.

      Honda commissions new R&D facility to accelerate electrification in India

      Honda R&D (India) established a Bengaluru centre to drive Indian electrification, in line with Honda's 2050 carbon neutrality vision. Their focus includes achieving carbon-neutral motorcycles by the 2040s through advanced technologies and open innovation.

      Switching to green careers: A quick guide to skills and strategies for a smooth transition

      Rising demand for sustainability roles prompts a shift towards green careers. Industry experts emphasize understanding required skills and pay structures. Key roles include wind turbine technicians, ESG analysts, and energy specialists. Acquiring skills like carbon accounting and climate action planning is crucial for success.

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