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The Economic Times

PM E-DRIVE to boost EV adoption: HD Kumaraswamy

The PM E-DRIVE Scheme, announced by Union Heavy Industries Minister HD Kumaraswamy, aims to boost electric vehicle adoption through incentives and charging infrastructure development. This initiative follows the success of the FAME scheme and seeks to reduce environmental impact, improve air quality, and strengthen the EV manufacturing industry.

Business Standard

Apple, mobile devices charge up 22% growth in electronics exports

Apple's contribution to electronics exports has grown steadily over the years

The Economic Times

Maruti plans 25,000 charging points ahead of its first EV launch

Maruti Suzuki India is set to launch its first electric vehicle, the Concept eVX SUV, in January 2025. The company plans to establish around 25,000 EV charging points and collaborate with oil marketing and energy companies to build a robust charging ecosystem. This initiative aims to address the challenges of EV adoption in India.

Business Standard

Yum! Brands appoints Pewekar as MD for Pizza Hut in Indian subcontinent

Yum! Brands, the US-based quick-service restaurant major, on Wednesday announced the appointment of Rohan Pewekar as the Managing Director (MD) for Pizza Hut in the Indian subcontinent. Yum! Brands owns restaurant chains, including KFC, Pizza Hut, Taco Bell, and The Habit Burger Grill. Pewekar will be based in Gurugram and will lead Pizza Hut's operations across India, Nepal, Bangladesh, Sri Lanka, and the Maldives, according to a statement. He will lead Pizza Hut for its next phase of expansion in the region, it added. Pewekar, an alumnus of IIM Calcutta and Wharton School, has been with Pizza Hut for over four years. He played a pivotal role in driving the brand's rapid growth in the region, serving as Chief Strategy and Finance Officer, it added. He has nearly 15 years of experience in B2C sectors and brings cross-functional expertise in finance, go-to-market strategies, channel expansion, and more. Before joining Pizza Hut, Pewekar worked with Samsung Electronics India and ..

Business Standard

Penetration of electric vehicles growing across segments in auto industry

Tata Motors reported a penetration of 12.05 per cent, down from 12.61 per cent last year, while JSW-MG Motors surged to 33.77 per cent, up from 23.75 per cent

Business Line

Ather’s IPO: Interesting gleanings on EV industry from its DRHP and how PM E-Drive can give a booster dose

Ather predicts that by 2031, electric two-wheelers will be 52% cheaper than petrol bikes even without subsidies, highlighting their long-term cost efficiency despite higher initial costs

Business Standard

Plan to launch six products under alliance with Nissan on track: Renault

The plan to roll out six new products, including two electric vehicles under the Franco-Japanese automotive alliance Renault Nissan, at a total outlay of Rs 5,300 crore has been progressing and is on schedule, a top official of French car major Renault India said on Wednesday. Renault-Nissan, in February 2023, had announced investments of USD 600 million (about Rs 5,300 crore) in India, to bring in six new products, including two electric cars, and an upgradation of their Chennai plant. Renault India Country CEO and Managing Director Venkatram Mamillapalle at an event said on Wednesday that about 70-80 per cent of the total committed investments have been invested so far. "We have announced investments of Rs 5,300 crore to introduce six new products. It (the project) is on schedule. You will be hearing from us hereafter, very soon (on the launch of new models)," he said. Mamillapalle was speaking to reporters after unveiling a new range of "Night and Day Limited Edition" variants .

Business Standard

PM E-DRIVE to boost electric vehicle adoption, says H D Kumaraswamy

FAME-II proved to be financially successful, with approximately 93 per cent of targeted vehicles incentivized and 92 per cent of the allocated funds utilised, Kumaraswamy said

The Economic Times

IIT alumni to invest Rs 700 cr for EV buses in Goa; will revive mass transport, says CM Pramod Sawant

The Goa cabinet has approved a proposal by IIT alumni to invest Rs 700 crore in introducing electric buses for the state's public transport system. The initiative aims to roll out 500 EV buses, enhancing the fleet of Kadamba Transport Corporation Limited and reviving non-operational routes and interstate services.

Business Standard

Quality Power files draft papers with Sebi to raise funds via IPO

Quality Power Electrical Equipments, an energy transmission equipment and power technologies company, has filed preliminary papers with capital market regulator Sebi to raise funds through a initial public offering. The initial public offering (IPO) comprises a fresh issue of equity shares aggregating up to Rs 225 crore and an offer for sale (OFS) of up to 1.2 crore equity shares, according to the draft red herring prospectus filed on Monday. As part of the OFS, promoter Chitra Pandyan will offload the shares of the IPO-bound company. The Pandyan family holds 100 per cent stake in Sangli-based Quality Power. Proceeds from the fresh issue are proposed to be utilised for the acquisition of Mehru Electrical and Mechanical Engineers Pvt Ltd, funding capital expenditure requirements for purchasing plant and machinery. Besides, the company will also use the funds for inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes. Quali

Business Line

Tata Group forms alliance with Analog Devices for semiconductor manufacturing

Tata Electronics, Tata Motors, and Tejas Networks ink MoU with ADI for semiconductor manufacture in India, and to use ADI’s products in Tata applications

The Economic Times

Quality Power files draft papers with Sebi; to mobilise funds via IPO

Quality Power Electrical Equipments, an energy transmission equipment and power technologies company, has filed preliminary papers with capital market regulator Sebi to raise funds through a initial public offering.

Business Standard

Electronics sector to discuss tariff, reforms with PMO, finance ministry

The electronics manufacturing sector will hold meetings with the Prime Minister's Office (PMO) and the Ministry of Finance to discuss '$500 billion by 2030' goal

The Economic Times

Plan to launch six new products under Renault-Nissan alliance is on schedule: Official

Renault India is progressing on schedule with its plan to roll out six new products, including two electric vehicles, under the Renault-Nissan alliance. The company has invested 70-80% of the committed Rs 5,300 crore so far. New limited edition variants of existing models have also been launched, available on a first-come-first-served basis.

The Economic Times

Tata, Analog Devices to explore opportunities for semiconductor manufacturing in India

Tata Group and Analog Devices have partnered to explore semiconductor manufacturing opportunities in India. Tata Electronics, Tata Motors, and Tejas Networks signed an MoU with ADI to enhance cooperation and use ADI's products in Tata applications like electric vehicles and network infrastructure. This collaboration aims to boost India's electronics manufacturing ecosystem.

The Economic Times

Ola Electric forms new service team amid rising customer complaints

Ola Electric has established a new service team to address the increasing number of customer complaints regarding service issues. The company receives around 80,000 complaints monthly, leading to long wait times and customer dissatisfaction. Shares of Ola Electric Mobility Ltd surged 10% following the announcement.

The Economic Times

Coal India eyeing Argentina, Chile for critical minerals, says official

Coal India is exploring critical minerals in Argentina and is in discussions with Chile for lithium, according to India's federal mines secretary. The move aims to secure supplies of lithium, essential for electric vehicle batteries. India has listed 30 minerals as critical for clean energy adoption and is pursuing overseas pacts to secure these resources.

Business Standard

HEG, Graphite India soar up to 12.5% today; here's what's driving the rally

HEG, Graphite India share price today: Resonac Graphite has announced a minimum 20 per cent of global price increase on all new orders

Business Standard

Reliance Power shares lock in 5% upper circuit on bourses: Here is why

Reliance Power had announced that it has settled its obligations of Rs 3,872.04 crore towards the corporate guarantee of the lenders of Vidarbha Industries

Business Standard

HEG Ltd leads gainers in 'A' group

Vakrangee Ltd, Graphite India Ltd, Alkyl Amines Chemicals Ltd and Samvardhana Motherson International Ltd are among the other gainers in the BSE's 'A' group today, 18 September 2024.

CNBC TV18

Explained — Why shares of HEG and Graphite India are surging today

Graphite India shares have now turned positive for the year after the surge seen in today's trading session.

Mint

E-commerce orders may be harder to return this festive season as sellers aim to maintain margins

Fashion and accessories experience a high frequency of returns, while returns in electronics and personal care items are relatively low.

Business Standard

Bharti Airtel to invest $1 billion in 4G gear from Ericsson, Nokia, Samsung

The contracts will address 300,000 new 4G base stations, with Ericsson, Nokia, and Samsung supplying about 50 per cent, 45 per cent, and 5 per cent of the equipment, respectively, over three years

The Economic Times

Reliance Power shares locked in 5% upper circuit on settling Rs 3,900 crore obligations

Reliance Power Share Price: Shares of Reliance Power rose 5% today, reaching a high of Rs 32.98, following the announcement of a settlement regarding obligations worth Rs 3,872.04 crore for the lenders of Vidarbha Industries Power (VIPL). The company also settled all disputes with CFM Asset Reconstruction, pledging 100% of VIPL's shares to CFM for the release of the guarantee.

Business Standard

Revathi Equipment India standalone net profit rises 412.26% in the June 2024 quarter

Sales rise 165.73% to Rs 52.03 crore

Mint

Ola Electric service crisis: New team to manage backlog as complaints rise to 80,000 a month

Ola Electric’s problem of service delays coincides with a drop in sales. In August, it posted its worst monthly volumes this year, selling 27,506 units—a 34% decline from July—and saw its market share drop to 31% from 39%.

Business Standard

Tata Motors taps used car market to boost electric vehicle resale, exchange

The company has the largest car park in EVs in India, estimated to be around 170,000 units. As a pilot, the company has already started work with used online car marketplace Spinny

Business Standard

Export of electric two-wheelers from India has lot of potential: Gadkari

Exports of electric two-wheelers from India has a lot of potential, specially to markets where Indian manufacturers are already selling conventional engine counterparts, Union Minister Nitin Gadkari said on Tuesday. Speaking at the launch of Revolt Motors' electric commuter motorcycle here, Gadkari said 50 per cent of motorcycles produced in India are exported and major players like Bajaj Auto, Hero MotoCorp, and TVS have a large presence in the international markets. The minister asked Revolt Motors to explore markets in the neighbouring countries as well as Africa and Latin America. Anjali Rattan, Co Founder and Chairperson of Rattan India Enterprises -- the promoter firm of Revolt Motors -- said the company has firmed up plans for exports to Sri Lanka to start with. The company is exploring export opportunities in Nepal, Africa, and Latin America as well. Revolt Motors on Tuesday launched its commuter bike RV1 with introductory prices of Rs 84,990 and Rs 99,990 for two variants

The Economic Times

AI to electronics: Micromax to foray into new-age businesses

Micromax co-founder Rahul Sharma said Micromax's manufacturing arm Bhagwati has taken over Vivo's mobile phone factory in Greater Noida, where it will be making originally designed mobile phones, IT hardware and automotive parts through a joint venture with one of the largest ODMs (original design manufacturers).

Business Standard

Bajaj to TVS, legacy ICE players assert dominance in EV two-wheeler segment

Bajaj Auto, TVS and Hero Motocorp collectively grab nearly half the electric two-wheeler market share in the second half of September till 17th

The Economic Times

India has potential to export electric two-wheelers: Nitin Gadkari

India has the potential to become a major export hub for electric two-wheelers, according to Transport & Highways Minister Nitin Gadkari. He highlighted that companies like Bajaj and TVS are already exporting nearly 50% of their production. With battery prices decreasing, electric vehicles are expected to be cost-competitive with petrol and diesel vehicles within two years, driving up demand.

The Economic Times

India has potential to produce lithium-ion batteries, Kashmir has 6% of global lithium stock: Nitin Gadkari

Union Road Transport and Highways Minister Nitin Gadkari announced that Jammu and Kashmir holds 6% of the world's lithium stock, highlighting India's potential to produce lithium-ion batteries. He emphasised the future of electric vehicles and the need for alternate fuels like ethanol and hydrogen. Gadkari also discussed India's growing automobile industry and its significant export contributions.

Business Standard

Revolt Motors launches electric motorcycle - the Revolt RV1

The RV1 and its premium variant, RV1+, are offered in four striking colours, priced at an introductory Rs 84,990 for the RV1 and Rs 99,990 for the RV1+.

Business Standard

PMEA Solar Tech Solutions files for IPO, eyes Rs 600 cr via fresh issue

PMEA Solar Tech Solutions has filed preliminary papers with capital markets Sebi to raise funds through an initial public offering (IPO). The Mumbai-based company's IPO is a mix of fresh issues of shares aggregating up to Rs 600 crore and an offer for sale (OFS) of up to 1.12 crore equity shares by promoters, according to the draft red herring prospectus (DRHP) filed on Monday. The company may consider raising up to Rs 120 crore in a pre-IPO placement. If such placement is completed, the fresh issue size will be reduced. Proceeds from the fresh issue to the extent of Rs 119.55 crore will be used for the setting up of certain manufacturing facilities undertaken through investment in the wholly owned subsidiary PMSS, Rs 120.45 crore for purchase of machinery/equipment; Rs 240 crore for payment of debt and remaining funds for general corporate purpose. Founded in 2006, PMEA Solar Tech Solutions specialises in solar tracking mounting systems and equipment and has an annual installed ..

Business Standard

Electronics industry plans strategy to meet PM's $500 bn production goal

In FY 2024, the total electronics production stood at $115 billion

The Economic Times

EV maker Revolt Motors launches RV1; here is the price and range, and specs of the new bike

Revolt Motors has introduced its third electric bike, the RV1, following the RV300 and RV400. The RV1 is designed for city commuting and comes in two variants with different battery capacities. It features a strong frame, dual disc brakes, portable waterproof batteries, and an LCD display. Prices start at Rs 84,990, with bookings open from Tuesday.

The Economic Times

EVs could reach 24% EU car market share by 2025, T&E says

Battery-electric cars in the European Union are projected to reach a market share of 20% to 24% by 2025, driven by lower prices. EV sales have slowed due to varied green incentives and tariffs on Chinese cars. Seven new electric models priced under 25,000 euros are expected in 2024 and 2025, boosting sales.

The Economic Times

More electric cars in Norway than petrol cars for first time

Electric cars outnumber petrol cars in Norway for the first time ever, an industry organisation said on Tuesday. Of the 2.8 million private cars registered in the Scandinavian country, 754,303 are all-electric, compared to 753,905 that run on petrol, the Norwegian Road Federation (OFV) said in a statement.

Mint

DCX Systems shares jump 5%, hit upper-circuit; What's driving the rally?

The stock's strong performance today has enabled it to recoup all the losses incurred earlier this year. Looking at a longer timeframe, the stock has gained 13.5% over the past 12 months.

Business Standard

From Tata Motors-JLR to Ford, Tamil Nadu's EV ecosystem expands in 2024

In the two-wheeler sector, three out of the top five EV manufacturers-Ola Electric, TVS Motor, and Ather Energy-are already based in the state