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JSW Motors also highlighted plans to invest $3 billion over five years to develop and make electric, hybrid, and plug-in hybrid cars in India. Under the partnership, KPIT will set-up a dedicated center of excellence for JSW Motors.
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Aside of the push for charging infrastructure, the note said India needs to resolve in a time-bound manner the rare earth supply disruption from China, currently hampering production timelines for some automakers.
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Deliveries are expected to start from late August, a separate person familiar with the development said. Customers will be able to configure and order their Tesla EVs from next week, the person added.
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Shenzhen-based BYD reported revenue of 777 billion yuan ($107 billion) for the 12 months ended Dec. 31, up 29%, according to a filing late Monday, beating estimates for 766 billion yuan. Tesla’s 2024 revenue was $97.7 billion.
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Maruti Suzuki said the eBorn SUV, which was recently unveiled by Suzuki Motor Corporation at Milan, Italy, is production ready, and a manufactured in India, for the world.
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Vingroup also said it will convert all existing loans of about $3.3 billion to VinFast Vietnam into dividend-entitled preferred shares, a move that will help address the "short-term financial pressure" on the EV maker.
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Bollywood icon Amitabh Bachchan, widely regarded as one of the most revered actors in Indian cinema, recently expanded his enviable car collection with the addition of a luxurious electric vehicle, the BMW i7. Valued at over Rs 2 crore, this cutting-edge luxury sedan marks a milestone in Bachchan’s ongoing passion for automobiles
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The company is offering the Windsor at Rs 9.99 lakh plus Rs 3.5/km for battery. It has also introduced an ownership plan through a Battery-as-a-Service (BaaS) offering and claimed that owning the Windsor, an electric CUV, will be at the price equivalent of a manual engine-based compact SUV.
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The scheme is likely to have incentives for electric buses, three-wheelers and two-wheelers. New categories like electric trucks, tractors, mining equipment and charging infrastructure could also be included.
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Production of Hyundai's locally manufactured EVs will begin by the end of 2024 and will be launched by 2025, along with Kia's India-made EV, the Hyundai Motor Group said in a statement on Thursday, adding that it would unveil five models by 2030
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In a message on X Sridhar Babu said since December 2023 the state government has been actively focusing on major investment opportunities by global giants, and as part of its focus, Tesla's planned investment initiatives in India are also being tracked.
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The company said global sales hit 800,000 units. Sales in Europe grew 12% versus February of last year and rose 31% in the U.S. and Canada, but they fell 12% in China.
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Officials say that although Tesla is keen on its India foray, it does not see India as a huge market just yet. Its charging infrastructure will take a few years to develop and only then can it think of a presence here, they say.
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While EV prices have surely dipped, the common worries of range anxiety, charging infrastructure, and resale value continue to plague the EV market
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The company says no plans currently for raising capital in the EV arm.
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The SU7 sedan is a highly anticipated model and could share operating system with the company's range of popular phones. In its efforts to diversify beyond its core business to EV, Xiaomi has pledged to invest $10 billion in autos over a decade.
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If that’s a bit rich, there’s an Ariya, Nissan’s all-new EV, listed for $36,690 in Kansas City — a discount of 18%. More affordable still is the $29,990 Hyundai Kona Electric available in Atlanta. That’s a 31% discount, making it almost as cheap as the gas-burning version.
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One reason that conventional vehicles are so profitable at the moment is precisely that investment in them is being wound down. Product lines are getting simplified and R&D pared back. That reduces the cost base and lifts profit margins — but if transition to EVs gets delayed, IC engine product offering risk becoming stale
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A Scottish man was left terrified after being kidnapped by his electric car. He eventually had to crash the car into a police van to get it to stop.
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Anand Mahindra has decided to gift an electric XUV400 to Praggnanandhaa's parents after the chess prodigy’s remarkable performance in the FIDE World Cup
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The Mahindra BE.05 was first showcased in concept form almost a year ago and the company has unveiled the car again. The company’s lead designer, Pratap Bose, has also teased the SUV on his Instagram handle
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Stocks may be booming, but having been through the correction between October 2021 and March 2022, many investors may have realised the truth in the adage that trees don’t grow to heaven.
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Kia will add more models to the market, such as the EV9, as part of the new strategy in India, Kia 2.0, and will also double its contacts to roughly 600 in order to increase its sales and market share in the country.
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Carmakers are all-in on electric options, but branding them has been a half-baked mashup of ideas.
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The boss of Jaguar Land Rover-owner Tata is expected to fly to London next week to finalise the deal, the BBC report added.
