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In an effort to increase profitability in the face of intensifying competition, EV manufacturer Lucid Group said on Monday that it will lay off roughly 18% of its US personnel and that COO Marc Winterhoff has departed the firm. This was the company’s second significant managerial move in recent months. The company’s shares were down…
New Delhi: Electric passenger vehicle volumes are back in action after the initial knee-jerk reaction to the reduction in GST on internal combustion engine (ICE) vehicles, according to a report by YES Securities. The report noted that festive demand for electric passenger vehicles has remained healthy, with average retail growth of around 15-20 per cent…
New Delhi: In a bid to boost the domestic manufacturing of electric vehicles (EVs), the government on Tuesday announced the launch of a portal for the application process under the Scheme to Promote Manufacturing of Electric Passenger Cars in India (SPMEPCI). Union Minister H.D. Kumaraswamy said that guided by the visionary leadership of Prime Minister…
President Donald Trump signed a trio of congressional resolutions ending California’s restrictive rules for diesel engines and mandates on elective vehicle sales, with Trump celebrating that his signature “will kill the California mandates forever.” The move comes as the President has been trading barbs over the state’s Democratic California Governor Gavin Newsom over anti-ICE riots…
New Delhi: The government on Monday notified guidelines for the “Scheme to Promote Manufacturing of Electric Passenger Cars in India” to enable fresh investments from global manufacturers in the electric cars segment and promote India as a global manufacturing hub for e-vehicles. To encourage global manufacturers such as US tech giant Tesla to invest under the…
New Delhi: The ongoing transition to electric vehicles (EVs) is expected to reshape the auto component industry by increasing content per vehicle and creating new avenues for suppliers, according to a recent report by Ambit Capital. However, it also highlighted that while the rise of EVs poses a threat to manufacturers dependent on internal combustion…
New Delhi: Maruti Suzuki India aims to be the leading producer of electric vehicles in the country over the next one year, the company’s Managing Director and CEO Hisashi Takeuchi said on Friday. Speaking on the sidelines of the Bharat Mobility Global Expo 2025 here, he noted that the production of the company’s first battery…
Hyundai Motor India Ltd sees a triggering of acceleration in the electrification of the passenger vehicles market in the country in 2025 and 2026, according to company COO Tarun Garg. Set to enter the mass market electric vehicle segment with the EV version of its popular SUV Creta, the company, which plans to bring four…
Increase in tax on electric vehicles will make it difficult for the electrification journey of the Indian automotive industry, Kia India Managing Director and CEO Gwanggu Lee said on Thursday. The company, which unveiled its new company SUV Syros, is looking at around 17 per cent sales growth next year at 3 lakh units as…
Noida To Mussoorie And Back With MG ZS EV: Can electric cars go uphill? Of course, you can go and explore mountains or hilly areas driving electric cars, to an extent, and knowing the calibre of your vehicle helps in taking an informed call. Recently, I took MG ZS EV from Noida to Mussoorie. You…