Foxconn is set to invest about $250 million (nearly Rs. 20,500 crore) in two new projects in Vietnam, including for the production of components for electric vehicles (EVs), the world’s largest contract electronics assembler and local authorities said on Friday. The move confirms Foxconn’s global plans to become a player…
Electric vehicle company Ola on Wednesday said it has commenced construction of its 100GWh gigafactory at its manufacturing facility in Tamil Nadu. The company has installed the first pillar of its cell factory in Krishnagiri, Tamil Nadu today. A gigafactory is a facility where equipment and components related to electrification…
Tesla is close to achieving fully autonomous vehicles, CEO Elon Musk said during a visit to Paris on Friday, adding autonomy was the “main driver” of the brand’s market value. The company’s shares rose by as much as 3 percent to their highest level in more than eight months. The…
Electric vehicle charging companies are cautiously embracing Tesla‘s charging technology as the main US standard, mere days after Ford and GM said they were adopting it, but questions remained about how any interoperability would work. The rare agreements between Tesla and each of the two US automakers, who among them…
The Supreme Court on Monday stayed the High Court order by which it had essentially allowed bike-taxi aggregators Rapido and Uber to operate in the national capital by asking the Delhi government not to take any coercive action against them till a new policy was formulated. A vacation bench of…
Tesla has proposed setting up a factory in India to build electric cars for domestic sale and export, the carmaker told government officials on Wednesday, according to a source with direct knowledge of the matter. The proposal comes after India refused to agree to Tesla’s request last year to lower…
Hyundai Motor India on Wednesday said it has tied up with Shell India to install 60 kW fast chargers across 36 of its dealerships in the country. The company has signed a memorandum of agreement with Shell India Markets in this regard, the automaker said in a statement. The strategic…
A group of senior Tesla executives plan to visit India this week to meet with federal government officials in a newfound bid to deepen the carmaker’s supply chain in the country as it pushes to diversify beyond China. The executives are scheduled to meet with government representatives including those from…
Last week, South Korea’s Hyundai Motor announced that it will invest $2.45 billion (roughly Rs. 20,000 crore) in Tamil Naidu over the next 10 years to bolster its electric vehicle (EV) production in India. SNE Research which provides global market research and consulting to the rechargeable batteries industry ranked Hyundai…
Koji Sato, the new president and CEO of Toyota Motor, made his first public speech in a live-streamed news conference on Friday afternoon, according to Nikkei Asia. On this occasion, Vice-President Hiroki Nakajima said the company will release 10 new EV models by 2026, which would amount to about 1.5…
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