Hyundai EV Charging Network Expansion in India by 2027
Hyundai Motor India Ltd., the country’s second-largest car manufacturer and the largest exporter since inception, has announced the successful expansion of its ultra-fast public EV charging network across key highways and cities in India. The company has installed 11 new DC fast charging stations, each featuring three charging points with different capacities, to cater to […]
VinFast Secures 400 Acres in Thoothukudi for EV Plant
VinFast, a leading electric vehicle (EV) manufacturer from Vietnam, has secured about 400 acres of land at an industrial estate owned by the State Industries Promotion Corporation of Tamil Nadu (SIPCOT) in Thoothukudi for its first India plant. The ground breaking ceremony for the integrated facility that will manufacture electric cars and batteries is scheduled […]
E-Mobility Boost: M&M, Volkswagen Enter Supply Agreement
Mahindra & Mahindra Ltd. (M&M), one of India’s leading automakers, has signed a supply agreement with Volkswagen Group, the largest car manufacturer in Europe, for components of Volkswagen’s Modular Electric Drive Matrix (MEB) for Mahindra’s purpose-built electric platform INGLO. The deal will enable Mahindra to launch five all-electric SUVs in India based on its new, […]
Ola Electric S1 Prices Cut by Rs 25,000: New Rates
Ola Electric has announced a price drop of Rs 25,000 for its S1 scooter range this month. The company said it has achieved this due to its strong cost structure, in-house technology and manufacturing capabilities, and eligibility to manufacturing incentives. What are the new prices of Ola Electric S1 scooters? The revised prices of the […]
Digital Commerce Platform OTO Bags $10M from K L Rahul
OTO, a digital commerce and lending platform for two-wheelers, has raised $10 million in a funding round led by GMO Venture Partners. The round also saw participation from Turbostart, Indian cricketer K L Rahul, and a few other family offices. Existing investors Prime Venture Partners, Matrix Partners, and 9 Unicorns funds also joined the round. […]
Vanguard Reduces Ola Cabs’ Valuation by 30%
Ola Cabs, one of India’s leading ride-hailing companies, has faced a significant valuation cut by US asset manager Vanguard, one of its investors. According to a regulatory filing, Vanguard has reduced Ola’s valuation by 30% to under $2 billion, marking its third consecutive markdown in the past year. What does this mean for Ola? Ola […]
Yamaha’s $40M Investment in E-Scooter Firm River
River, a Bengaluru-based electric scooter startup, has raised $40 million in a Series B funding round led by Yamaha Motor Corp and other investors. The company plans to use the funds to expand its distribution and service network across the country, as well as for research and development of its future products. River’s Indie e-scooter […]
Hyundai Eyes $3B India IPO, Estimated Valuation of $25-30B
Hyundai Motor Co, the South Korean automaker, is considering listing its Indian unit in the country’s booming IPO market, according to two sources who have been briefed on the matter. Hyundai Motor India is in early stage talks for the initial public offering and has held discussions with several banks, the sources said. India’s largest […]
Diesel Irregularities: Toyota Suspends 3 Models
Toyota Kirloskar Motor (TKM), the Indian subsidiary of the Japanese automaker, has announced that it is temporarily suspending the dispatch of three of its models – Innova Crysta, Fortuner and Hilux – in the country after “irregularities” were found in the certification tests for the diesel powertrain. What are the irregularities? According to a statement […]
responsAbility’s $25M Investment in BluSmart’s EV Expansion
responsAbility, a Switzerland-headquartered impact fund, has announced that it will invest up to USD 25 million on behalf of its investors in BluSmart, India’s leading EV ride-hailing service and EV charging infrastructure network. This investment is part of responsAbility’s broader USD 500 million climate investment strategy aimed at actively reducing CO2 emissions in Asia. BluSmart, […]