Chinese smartphone maker Xiaomi reported a 4 percent revenue drop in the second quarter, tracking a shrinkage in China’s handset market, but said its move into making electric vehicles was running ahead of schedule. Sales dropped to CNY 67.4 billion (nearly Rs. 76,450 crore) from CNY 70.17 billion (nearly Rs. 80,650…
Betting big on the growing electric vehicle market in India, luxury car maker Mercedes-Benz is expecting its EV portfolio (present and future) to make up 25 percent of its total car sales in the next three years, growing from the current levels of three to four percent. Mercedes-Benz on Thursday…
Electric vehicle battery-swapping solutions provider Gogoro on Thursday announced a partnership with Swiggy to promote its electric Smartscooters to last-mile delivery partners of the on-demand convenience delivery platform across India. Gogoro and Swiggy will provide a seamless path for riders to adopt sustainable electric transportation and improve their business efficiency,…
Exponent Energy, an Indian rapid charging startup, is in talks with new and existing investors to raise money to expand its energy services business to three-wheeled passenger vehicles and buses, its chief executive told Reuters in an interview. The maker of electric vehicle batteries that can be fully charged in…
Micromax is looking to enter the electric vehicle manufacturing space in India, according to a report. The New Delhi-based phone manufacturer has faced stiff competition from Chinese brands in the country and reportedly laid off employees across the country, while senior executives have also exited the firm. The developments —…
MG Comet EV is now available in a special ‘Gamer Edition’ trim, which is designed to appeal to gamers and young buyers. Priced at Rs. 64,999 over and above the base cost of the car itself, the Gamer Edition is available across all three variants of the MG Comet EV…
China’s BYD has told its India joint-venture partner it would shelve plans for a new $1-billion (roughly Rs. 8,225 crore) investment to build electric cars after its investment proposal faced scrutiny from New Delhi, two people with knowledge of the discussions said. BYD and its partner, privately held Megha Engineering and…
Right on cue, Tesla skeptics are pushing back after this year’s sizzling $500 billion (roughly Rs. 41,05,550 crore) rally. Rival automakers pouncing on booming demand for electric vehicles pose the biggest challenge for Tesla over the next two years just as Elon Musk appears distracted thanks to his high-profile ventures,…
Ola Electric Mobility is in line for an initial public offering sooner than its founder previously imagined, reflecting the Indian startup’s whirlwind pace of growth since it started selling electric scooters in late 2021. “I thought it would take me four to six years of revenue to go public,” Founder…
China’s BYD has submitted a $1 billion (nearly Rs. 8,200 crore) investment proposal to build electric cars and batteries in India in partnership with a local company, three people with direct knowledge of the plan told Reuters. BYD and privately held Hyderabad-based Megha Engineering and Infrastructures have submitted a proposal to…
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