PTI – Infrastructure Investment Trust (InvIT) is an instrument on the pattern of mutual funds, designed to pool money from investors and invest in assets that will provide cash flows over a period of time. Elaborating further, the official told PTI that while INR 15,000 crore is planned to be raised in 2023-24 via project-based financing of high-speed corridors by securitising the future toll revenues without any guidance from the authority, INR 10,000 is planned to be raised via InvIT.

PTI – Cluster buses are monitored and managed by the Delhi Integrated Multi-Modal Transit System Limited (DIMTS). They were introduced in Delhi with the aim of replacing the killer Blue Line buses that were phased out in 2012. The cluster buses that have gone off the roads used to play in south, southwest, west and outer Delhi.

SAN FRANCISCO, April 21 (Reuters) – Tesla’s market share in its key California market tumbled in the first quarter of the year despite aggressive price cuts as rivals stepped up, data showed on Friday.

Tesla Inc (TSLA.O) controlled 59.6% of the battery electric market in California from January to March, down from 72.7% for all of 2022 and the lowest since 2017, according to Reuters calculations based on data from the California Energy Commission.

Continue reading “Tesla’s California market share tumbles despite aggressive price cuts”

LOS ANGELES, April 21 (Reuters) – Jurors in what appears to be the first trial related to a crash involving Tesla’s Autopilot feature told Reuters after the verdict on Friday that the electric-vehicle maker clearly warned that the partially automated driving software was not a self-piloted system, and that driver distraction was to blame.

A California state court jury on Friday handed Tesla Inc (TSLA.O) a sweeping win, finding that the automaker’s Autopilot feature did not fail to perform safely and awarding plaintiff Justine Hsu zero damages.

Continue reading “Exclusive: Tesla’s Autopilot never claimed to be self-pilot, juror says”

BERLIN, April 21 (Reuters) – Canada and Volkswagen (VOWG_p.DE) on Friday together committed more than C$20 billion ($14.8 billion) for a battery gigafactory in St. Thomas, Ontario, the biggest single investment ever in the country’s electric-vehicle supply chain.

Europe’s largest carmaker is investing up to C$7 billion to build the plant, Volkswagen said in a statement.

Continue reading “Canada, Volkswagen to invest more than C$20 billion in EV battery gigafactory”

DETROIT, April 21 (Reuters) – United Auto Workers union President Shawn Fain said on Friday there is “no excuse” for Detroit’s automakers to set up electric vehicle operations and ventures that are not unionized.

Fain also told the Detroit Automotive Press Association that Stellantis NV’s decision to idle an assembly plant in Belvidere, Illinois, is “a flat-out violation” of the union’s contract with the UAW and is unacceptable.

Continue reading “UAW President: ‘No excuse’ for Detroit’s non-union EV operations”

PTI – The passenger EVs will be leased to Blusmart Mobility Pvt Ltd (BMPL) to expand its fleet of ride-hailing cabs. The first tranche of the loan has been disbursed and the first lot of EV cabs has hit the Delhi roads, it added.

PTI – As part of this initiative, Energy Minister Peddireddy Ramachandra Reddy has inaugurated a charging station near Durga temple in the city and launched the Renewable Energy Resources Centre (RERC), established by NREDCAP and AP State Council of Science & Technology (APCOST).

BERLIN, April 21 (Reuters) – Volkswagen (VOWG_p.DE) significantly increased deliveries in the first quarter despite weaker business in China, its most important single market, the German carmaker said on Friday.

The group delivered 2.04 million vehicles to customers worldwide, up 7.5% compared with the same quarter last year, while in China, sales fell 14.5% to 644,500 vehicles.

Continue reading “Volkswagen increases Q1 sales despite weaker China business”

HONG KONG, April 21 (Reuters) – China’s BYD Co Ltd (002594.SZ), , the world’s largest electric vehicle (EV) maker, plans to build a $290 million lithium cathode factory in Chile’s northern Antofagasta region, said Chilean economic development agency CORFO.

The South American country’s government has named BYD Chile a qualified lithium producer, CORFO said, giving it access to preferential prices for lithium carbonate quotas.

Continue reading “China EV maker BYD to build $290 mln battery component plant in Chile”

LOS ANGELES, April 21 (Reuters) – A California state court jury began deliberating on Thursday in what appears to be the first trial related to a crash involving Tesla’s Autopilot partially automated driving software.

The verdict could offer an important sign of the risk facing Tesla Inc (TSLA.O) as it tests and rolls out its Autopilot and more advanced “Full Self-Driving (FSD)” system, which Chief Executive Elon Musk has touted as crucial to his company’s future, but which has drawn regulatory and legal scrutiny.

Continue reading “US jury set to decide test case in Tesla Autopilot crash”

MEXICO CITY, April 20 (Reuters) – MG Motor is launching a plug-in hybrid SUV in Mexico, the carmaker said on Thursday, as the market for hybrid and electric vehicles in the Latin American country heats up despite a lack of infrastructure and high costs for locals.

The hybrid eHS model is set to hit Mexico’s streets on Friday, alongside two combustion-engine models, the company said.

Continue reading “MG Motor launches plug-in hybrid option in Mexico as EV race heats up”

SHANGHAI, April 20 (Reuters) – Automakers keen to make a splash at the Shanghai auto show showed off vehicles boasting features from crystal balls to in-car karaoke systems and 3D dashboards, as competition to attract drivers heats up in the world’s largest auto market.

At the first such showcase in China since the country’s COVID-19 curbs ended, Zeekr, a premium electric vehicle (EV) brand owned by Zhejiang Geely Holding Group (GEELY.UL), highlighted how its newly released X model SUV has seats that can massage passengers.

Continue reading “At Shanghai show, auto rivals lure drivers with in-car karaoke, crystal balls”

SEOUL, April 20 (Reuters) – The South Korean government and its top battery companies plan to jointly invest 20 trillion won ($15.1 billion) through 2030 to develop advanced battery technologies, including solid-state batteries, the industry ministry said on Thursday.

“The joint investment will allow South Korea to start commercial production of solid state batteries ahead of others,” the ministry said in a statement.

Continue reading “South Korea announces $15 bln investment in advanced battery technologies”

April 19 (Reuters) – Tesla Inc (TSLA.O) boss Elon Musk on Wednesday doubled down on the price war he started at the end of last year, saying the electric vehicle (EV) maker would prioritize sales growth ahead of profit in a weak economy.

The company posted its lowest quarterly gross margin in two years, missing market estimates, as it slashed prices aggressively in markets including the United States and China to spur demand and fend off rising competition.

Continue reading “Musk says Tesla will put sales growth ahead of profit”

SHANGHAI/BERLIN, April 19 (Reuters) – German automakers have turned up in full force at Shanghai’s Auto Show as they fight to stay on top of consumer trends in the country that will define whether they maintain their market dominance in the electric age both at home and abroad.

Their heavy presence – with the entire board of Volkswagen AG (VOWG_p.DE) and more than 100 VW employees attending, in contrast to Japanese or French automakers – shows they are taking the challenge seriously, said Yale Zhang of Shanghai-based consultancy Automotive Foresight.

Continue reading “Analysis: German automakers fight to defend their turf from Chinese rivals”

PARIS, April 19 (Reuters) – French car lobby Plateforme de la filière automobile (PFA) on Wednesday proposed that a state bonus for consumers buying electric cars be reserved for vehicles “made in Europe”.

The proposal comes as Europe looks at ways to counter Chinese protectionism and U.S. subsidies offered by the U.S. Inflation Reduction Act.

Continue reading “French car lobby makes plea for bonus for ‘made in Europe’ electric cars”

SHANGHAI, April 19 (Reuters) – Elon Musk has said the only thing holding back electric vehicle (EV) sales is their price.

Companies like BYD (002594.SZ) are solving that problem in China – and getting ready to solve it for the world.

China’s largest EV maker unveiled this week the Seagull at the Shanghai auto show, shocking analysts and rivals with the car’s specs: a battery range of more than 300 kilometers (186 miles) and a starting price of just over $11,000 – about a quarter of the price of most EVs now on the market in Europe.

Continue reading “As EV costs tumble in China, an export wave builds”

April 18 (Reuters) – Tesla Inc (TSLA.O) has cut prices for some of its Model Y and Model 3 vehicles in the U.S., the sixth time the company has made such a move this year as it looks to spur demand even at the cost of its industry-leading profit margins.

The cuts came ahead of the electric-vehicle maker’s first-quarter earnings due on Wednesday and sent the stock down nearly 3% in early trading. Shares have risen just a little under 50% this year, after posting their biggest annual drop in 2022.

Continue reading “Tesla cuts US prices for sixth time this year ahead of Q1 results”

April 19 (Reuters) – Passenger car registrations in the European Union rose 28.8% in March to more than one million units, the European Automobile Manufacturers Association (ACEA) reported on Wednesday.

Battery-electric cars made up 13.9% of new registrations in the EU, up 2.5% from the same month last year.

Continue reading “EU passenger car sales up 28.8% to over 1 million units in March, ACEA says”

SAN ANTONIO, Texas, April 19 (Reuters) – At Toyota Motor Corp’s (7203.T) sprawling factory here, just 16 miles (26 km) from the Alamo, a new gasoline-fueled Tundra pickup truck or hybrid Sequoia SUV rolls off the assembly line every 60 seconds.

“We can’t produce enough of the Sequoias and Tundras today,” said plant manager Kevin Voelkel. “There is a waiting list.”

Continue reading “Biden’s push for electric vehicles hits deep in the heart of Texas”

April 19 (Reuters) – Jaguar Land Rover (JLR) said on Wednesday it planned to increase its investments in electric vehicles (EVs) as it chases global rivals, with the British luxury carmaker promising its first new electric Jaguar in 2025.

JLR, which is owned by India’s Tata Motors (TAMO.NS), said it would invest 15 billion pounds ($19 billion) over the next five years on EVs.

Continue reading “Jaguar Land Rover ups electric investments to catch up in EV race”

SHANGHAI, April 19 (Reuters) – At the Shanghai auto show this week, the largest crowds can be found around an unassuming, bright yellow hatchback parked at the booth of China’s largest electric carmaker BYD (002594.SZ).

Dubbed the “Seagull”, BYD’s latest electric vehicle (EV) made its debut at the event this week, stunning visitors not so much for its look or its features, but the fact it will sell from just 78,000 yuan ($11,300) – around half the price of the cheapest new energy vehicles available elsewhere.

Continue reading “Shanghai auto show crowds flock to BYD’s Seagull”

PTI – The conferences on materials for sustainable energy and circular bioeconomy have already concluded at Ranchi, Jharkhand and Dibrugarh, the statement said.

PTI – Electric vehicle industry body SMEV on Tuesday appealed to a parliamentary panel to direct the government to release the pending subsidy of Rs 1,200 crore earmarked for the liquidity- hit sector. In a petition to the Parliamentary Standing Committees on Industry and Estimates, the Society of Manufacturers of Electric Vehicles (SMEV) stated that EV adoption is slowing down due to the financial stress being faced by the industry.

PTI – Mahindra & Mahindra sold 3,23,691 passenger vehicles last fiscal to log in a market share of 8.94 per cent. It had retailed 1,99,125 units in FY22 to record a market share of 6.77 per cent, FADA said.

SHANGHAI, April 18 (Reuters) – Global automakers, including Toyota and Volkswagen, took the stage at the Shanghai auto show on Tuesday with built-for-China and electric-drive products to compete for a high-stakes comeback in the world’s largest market.

But after a year when trends have shifted sharply against the established foreign brands that once dominated in China, executives from Chinese automakers offered a reality check: the game is moving faster and the pressure to cut prices is getting more intense.

Continue reading “Once-dominant foreign auto brands pledge comeback in China”

April 18 (Reuters) – Japan’s Nissan Motor (7201.T) on Tuesday unveiled a new electric sport-utility vehicle (SUV) at the Shanghai auto show as it pledged its commitment to the Chinese auto market, which it said was likely to continue to pioneer the rise of electric cars.

China has long been a key market for Nissan, but like other global automakers, it faces increasing pressure and the threat of declining market share from the rise of home-grown auto companies.

Continue reading “Nissan unveils new EV for China as it aims to up game in no. 1 auto market”

SHANGHAI, April 17 (Reuters) – China’s auto market, the world’s largest, is accelerating toward an electric future – leaving established global brands stuck in the slow lane.

When auto executives convene in Shanghai for the auto show starting Tuesday, they will return to a sharply different market from the one they left in 2021 when the industry gathered for a limited event under strict COVID-19 controls.

Continue reading “China’s electric car drive, led by BYD, leaves global brands behind”

SHANGHAI, April 18 (Reuters) – Chinese electric vehicle (EV) maker Li Auto Inc (2015.HK) said on Tuesday it plans to expand its line-up to 11 models by 2025, up from four currently, targeting the market for vehicles priced at 200,000 yuan ($29,100) and higher.

Speaking on the sidelines of the Shanghai auto show, Li Auto’s president and chief engineer Ma Donghui said the line-up by 2025 will include one flagship model, five range-extended electric models and five high-voltage pure electric models.

Continue reading “China’s Li Auto aims to nearly triple electric model line-up to 11 by 2025”

FRANKFURT, April 18 (Reuters) – The number of electric vehicle charging points in Germany rose by 35% last year, exceeding the rate of increase needed to keep up with the rollout of battery EVs in the country, the BDEW energy industry association said on Tuesday.

The German government last October approved a plan to spend 6.3 billion euros ($6.9 billion) over three years to rapidly scale up the number of charging stations as part of its push towards net zero emissions from transport.

Continue reading “Germany added 35% more EV charge points in 2022, says BDEW”

LOS ANGELES, April 17 (Reuters) – California’s bustling seaports, dominated by massive container vessels and soaring cranes, may seem an unlikely setting for investors seeking to capitalize on the “green” revolution.

But thanks to the state’s plan to phase out by 2035 heavy-duty diesel trucks that haul containers to ships and warehouses, the ports have become ground zero for forward-looking investors who are lining up to build charging stations for the electric semis that will eventually serve those trade gateways.

Continue reading “California’s port truck-charging plan gets a jolt from big investors”