ELECTRIC
Europe is slapping tariffs on Chinese electric vehicles - for now. Here's what to know
EU raises customs duties on Chinese electric vehicles due to unfair subsidies. Tariffs aim to address market imbalance. Negotiations ongoing between EU and China. Concerns about impact on European jobs and green technology production. Uncertainty looms over potential solutions and retaliatory measures.
Greaves Finance appoints P. B. Sunil Kumar as CEO to accelerate EV financing
Greaves Finance, a Greaves Cotton subsidiary, appointed PB Sunil Kumar as Executive Director and CEO effective July 3, 2024. He will advance financing for electric two-wheelers via the evfin platform. With 25 years' experience, including positions at Taiki Consulting, Tata Finance Ltd, ICICI Bank, and GE Capital Services India, Kumar is also a chartered accountant.
EU slaps Chinese electric cars with tariffs of up to 38%
The European Union imposed provisional duties of up to 38 per cent on Chinese electric car imports due to alleged unfair state subsidies, sparking concerns of a trade war. The move was criticised by China as "politically motivated" and "protectionist." European countries are divided on the issue, with Germany fearing harm to its auto industry. Talks with China continue, with hopes for a negotiated solution to avoid escalating tensions.
Tesla Vs Tesla: HC orders mediation in trademark dispute between Musk's firm & Gurugram-based company
The Delhi High Court has directed Tesla Inc. and Gurugram-based Tesla Power India to mediate their trademark dispute. Tesla Inc. alleges that Tesla Power India's use of the "Tesla" trademark infringes on its rights, causing consumer confusion and harming its business. Mediation is scheduled for July 18, with a further hearing on September 18.
India's EV plans to get a policy boost as govt may fast-track 3 big-ticket schemes
The Indian government plans to fast-track three major electric vehicle schemes in its first hundred days, including incentives for local battery production and electric bus procurement under FAME 3. Aimed at boosting clean mobility, these initiatives aim to propel India towards net-zero goals amid rising global demand for EVs.
India's solar output grows at slowest pace in six years in first half of 2024
Solar power generation in the third-largest producer of electricity from the sun rose to 63.6 billion kilowatt-hours (kWh) in the first half of 2024, the data showed, up 14.7% compared with the same period last year and 18.5% in the calendar year 2023. The world's fastest growing major economy has prioritised coal to address a surge in power demand in recent years.
Volvo to launch only EVs in India, plans one new car every year
Swedish luxury carmaker Volvo Cars plans to exclusively launch electric vehicles in India after 2030. Volvo aims to introduce one new electric vehicle annually, starting with the EC30 in 2025. The market for electric cars in India, though currently small, is growing rapidly. Volvo holds a significant share in the luxury EV segment in India and sees potential for further growth in the country's luxury vehicle market.
Mahindra & Mahindra selects ABB technology for new EV paint facility
M&M partners with ABB using PixelPaint tech to offer precise finish application without disrupting production line for personalization options on new EVs, marking a significant advancement in the automotive industry.
Matter Group raises USD 35 mn from US-based Helena, others
Matter Group secures a significant USD 35 million Series B funding led by Helena, with plans to deliver advanced AERA electric motorbikes in India to address global climate challenges.
What's draining the juice out of electric two-wheeler makers' battery
Sales of e2Ws plummet due to policy inconsistencies, supply chain issues with Chinese suppliers, and expectations for FAME III rollout, impacting top manufacturers like Hero Electric, Okinawa, and Ampere.
EU governments waver over Chinese EV tariffs as trade spat escalates
EU countries debate supporting tariffs on Chinese electric vehicles in Brussels amid concerns over Beijing's possible retaliation affecting EU exports like cognac and pork.
EV companies seek stability in incentives ahead of FAME-III rollout
The comparison between FAME-II and EMPS subsidies is crucial, as highlighted by a report from the Federation of Automobile Dealers Associations, emphasizing the importance of stable subsidy regimes for the EV industry's growth.
Renewables produce almost 60% of Spain's electricity
Spain significantly increased its renewable energy generation in the first half of 2024, with renewables contributing 60 per cent of its electricity, up from 51 per cent a year earlier, driven by new solar capacity and increased output from hydropower plants, according to data from grid operator Redeia, with wind farms generating 24.4 per cent of the total, solar plants 16. per cent, and hydropower dams 15.9 per cent, aligning with Spain's goal to reach 80 per cent renewable electricity by 2030.
Faster nod for power connection to EV charging stations proposed
The Indian government has proposed new guidelines to reduce the approval time for electricity connections for electric vehicle (EV) charging stations. The approval time in metropolitan areas will be cut from seven days to three days, and in municipal areas from 15 days to seven days. In rural areas, the time will be reduced from 30 days to 15 days. The draft guidelines also call for an online single-window clearance system for faster processing of these connections.
Skoda eyeing local equity partnership amid electric shift
Skoda Auto Volkswagen India is making progress in equity partnership talks with an Indian company to share costs and risks. While open to continuing solo, Skoda sees value in local collaboration amid government EV pushes and stricter emissions regulations. Future investments depend on this decision.
Ola Electric to invest $100 mn in first phase of Gigafactory, says Bhavish Aggarwal
Ola Electric, the electric vehicle manufacturer, plans to invest $100 million in the first phase of building its Gigafactory for producing lithium-ion battery cells. The investment will be used for 'phase 1A' of the Gigafactory, which will set up 1.5 GWh of cell manufacturing capacity. The aim is to expand capacity to 5 GWh in 'phase 1B'.
GT Force Texa electric motorcycle launched at Rs 1.2 lakh. Check specification and other details
GT Force's GT Texa, priced at Rs 1.20 lakh, offers a 130 km range with a 3.5 kWh battery. The electric motorcycle features alloy wheels, E-ABS controller, and telescopic dual suspension systems for a comfortable ride. Available in multiple states, it complements GT Force's electric two-wheeler lineup.
Budget 2024: Tata Motors expects policy continuity in electric mobility
Tata Motors expects policy continuity in the upcoming Union Budget and calls for more players in the charging infrastructure space for faster adoption of electric mobility in India. The new NDA government is expected to present the Union Budget next month, with GST and PLI schemes already in place.
Uber Green electric cabs launched in Kolkata
Uber becomes the second ride-hailing service provider to offer electric vehicles in the city of Kolkata, following Snap E, another brand operating with an all-EV fleet.
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