EV Maker BYD Said to Be Planning to Invest $1 Billion in India for Electric Cars, Batteries

EV Maker BYD Said to Be Planning to Invest $1 Billion in India for Electric Cars, Batteries

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…

Elon Musk Launches AI Startup xAI With Team of Former Google, OpenAI Engineers

Elon Musk Launches AI Startup xAI With Team of Former Google, OpenAI Engineers

Musk in March registered a firm named X.AI Corp, incorporated in Nevada, according to a state filing.  By Reuters | Updated: 12 July 2023 22:32 IST Billionaire Elon Musk‘s xAI on Wednesday announced the formation of the artificial intelligence (AI) startup with the launch of its website, unveiling a team…

Tesla’s Plug Made Compulsory in Kentucky for EV Charging Companies

Tesla’s Plug Made Compulsory in Kentucky for EV Charging Companies

Kentucky is requiring that electric vehicle charging companies include Tesla‘s plug if they want to be part of a state program to electrify highways using federal dollars, according to documents reviewed by Reuters.  Kentucky’s plan went into effect on Friday, making it the first state to mandate Tesla’s charging technology,…

Automakers Plan a Second Life for Old EV Batteries, but That Depends How Long the First Is

Automakers Plan a Second Life for Old EV Batteries, but That Depends How Long the First Is

Global automakers have touted plans to re-use electric vehicle (EV) batteries when they lose power, but competition for battery packs and cell materials, and the appetite for affordable cars cast doubt on this part of the circular economy. An array of startups offers second-life energy storage using old EV batteries….

Karnataka Government Invites Elon Musk to Set Up Business in State

Karnataka Government Invites Elon Musk to Set Up Business in State

The Karnataka government has extended an invitation to business magnate Elon Musk to set up businesses in the southern state.  Karnataka’s Minister for Commerce and Industries, Infrastructure MB Patil, in a Twitter post, wrote his state Karnataka is the “ideal destination” for Tesla‘s expansion into India. “If Tesla considers setting up a plant in India, Karnataka, with its great potential and capabilities, I must say is The Destination,” he added. “As a progressive state and a thriving hub…

Applied Materials to Invest $400 Million to Set Up New Engineering Centre in India

Applied Materials to Invest $400 Million to Set Up New Engineering Centre in India

US semiconductor toolmaker Applied Materials will invest $400 million (roughly Rs. 3,300 crore) over four years in a new engineering centre in India, the company said on Thursday. Indian Prime Minister Narendra Modi met with the company’s CEO Gary Dickerson in Washington on Wednesday and invited Applied to strengthen the…

Elon Musk’s Starlink High-Speed Internet Service Eyes India, Faces Resistance From Reliance Jio Over Auctions

Elon Musk’s Starlink High-Speed Internet Service Eyes India, Faces Resistance From Reliance Jio Over Auctions

Elon Musk is eager to bring his Starlink satellite broadband to India, but the world’s richest man faces strong resistance from Mukesh Ambani, Asia’s wealthiest, who runs Indian telecom giant Reliance Jio.Following a meeting with Indian Prime Minister Narendra Modi in the US on Tuesday, Musk said he was keen…

Elon Musk Reclaims Position as World’s Richest Person After Bernard Arnault’s Louis Vuitton Shares Drop

Elon Musk Reclaims Position as World’s Richest Person After Bernard Arnault’s Louis Vuitton Shares Drop

Elon Musk has yet again claimed his position as the world’s richest person after beating the CEO of the French luxury brand Louis Vuitton Bernard Arnault, according to Bloomberg Billionaires Index. According to the Bloomberg Billionaires Index, as of Thursday, Musk’s net worth was about $192 billion (roughly Rs. 15,82,483 crore),…