Source : PTI | India’s power consumption grew over 8 per cent to 127.79 Billion Units (BU) in February as compared to the year-ago period, according to government data. In February 2023, power consumption stood at 118.29 BU, higher than 108.03 BU recorded in the same month a year ago, the data showed.

There were 29 days in February as 2024 is a leap year. Thus the growth rate of power consumption in February is slightly higher.

The peak power demand met — the highest supply in a day — rose to 222 GW in February 2024. The peak power supply stood at 209.76 GW in February 2023 and 193.58 GW in February 2022. Continue reading “India’s power consumption rises over 8 pc to 127.79 billion units in February”

Source : PTI | The Cochin Shipyard Limited (CSL) on Friday carried out the steel cutting for the world’s first hydrogen fuel cell powered feeder container vessel built for a Norwegian logistics company. The ‘Sea Shuttle’ is an ambitious project admitted under the Norwegian Government green funding programme aimed at emission-free transport solutions by adopting sustainable path breaking future technologies.

“In zero emission mode, each vessel is expected to achieve around 25,000 tonne of CO2 reduction per year,” the CSL said. Continue reading “CSL carries out steel cutting for world’s first hydrogen fuel cell powered feeder container vessel”

Source : PTI | New Delhi: Prime Minister Narendra Modi on Saturday unveiled a series of oil and gas sector projects worth about INR 1.62 lakh crore across the country from Bihar’s Begusarai district. The projects are spread across various states like Bihar, Haryana, Andhra Pradesh, Maharashtra, Punjab and Karnataka.

The PM also flagged off four trains, including the Danapur-Jogbani Express (via Darbhanga-Sakri).

Trains from Jogbani to Saharsa and Siliguri and Sonpur-Vaishali Express were also flagged off. Continue reading “PM unveils oil and gas projects worth INR 1.62 lakh cr across India”

Source : PTI | Indian used car market is expected to touch the USD 100 billion-mark in the next ten years on the back of rising disposable incomes and a growing middle class, according to CARS24 Co-Founder and CEO Vikram Chopra. As per the findings of the Gurugram-based online used car marketplace, there are changes in market dynamics with customers opting for frequent upgrades when it comes to cars.

“According to our internal study, the anticipated growth of the Indian used car market is set to occur at a 15% CAGR, increasing from USD 25 billion in 2023 to USD 100 billion by 2034,” Chopra told PTI in an interaction. Continue reading “India’s used car market size to touch USD 100 bn-mark by 2034: CARS24 CEO”

Source : PTI | In light of instances of numerous vehicles from different states bearing fake engine and chassis numbers registered in Maharashtra, the state transport department has set a standard operating process (SOP) for vehicles being transferred from other states, an official said on Sunday. The department issued a directive recently after it came to light that several trucks and buses from Telangana, Arunachal Pradesh, Nagaland, and other places operating with fake chassis and engine numbers had re-registered at regional transport offices (RTOs) in the state, the official said.

Talking to PTI, state transport commissioner Vivek Bhimanwar said, “Earlier, there was no set procedure for registration of vehicles from other states, and at RTOs, clerks would make entries of transferred vehicles on the Vahan portal and senior clerks would approve it.” Continue reading “Maharashtra transport dept issues SOP for registration of vehicles from other states”

(Reuters) – Nissan is in advanced talks to invest in electric vehicle maker Fisker in a deal that could provide the Japanese automaker with access to an electric pickup truck while giving the struggling startup a financial lifeline, according to two people familiar with the negotiations.

The deal could close this month, said the sources, who asked not to be identified because the talks are ongoing and have not been finalized. Continue reading “Exclusive: Nissan, Fisker in advanced talks on investment, partnership-sources”

WASHINGTON, (Reuters) – President Joe Biden, vowing to “do right by U.S. auto workers,” launched an investigation this week into whether Chinese-made vehicles could be used to spy on Americans, a far-off threat given the few such cars on U.S. roads now.

The White House announced the probe Thursday citing national-security risks about “connected” cars creating “new avenues for espionage and sabotage.” Continue reading “The politics and economics behind Biden’s China-car espionage probe”

WASHINGTON, (Reuters) – The United States is opening an investigation into whether Chinese vehicle imports pose national security risks and could impose restrictions due to concerns about “connected” car technology, the White House said on Thursday.

The U.S. Commerce Department probe is needed because vehicles “collect large amounts of sensitive data on their drivers and passengers (and) regularly use their cameras and sensors to record detailed information on U.S. infrastructure,” the White House said. Continue reading “US to probe if Chinese cars pose national data security risks”

BEIJING, (Reuters) – Li Auto (2015.HK), opens new tab officially launched on Friday its first pure electric model MEGA multi-purpose vehicle (MPV), which founder and CEO Li Xiang expects to become the Chinese electric vehicle startup’s top seller among cars priced above half a million yuan.

The company also unveiled some higher-priced new versions in its existing L series, despite a protracted price war in the sector, and announced plans to invest at least 6 billion yuan ($833.6 million) in the coming years to build more than 5,000 directly operated 5C charging stations. Continue reading “China’s Li Auto pins hopes on first all-electric model”

(Reuters) – Cash-strapped Fisker’s shares skid nearly 47% on Friday after the electric vehicle startup flagged going-concern risks, job cuts and a pause in investments into future projects until it secures a partnership with a manufacturer.

The company warned of a “difficult year” ahead, the latest sign of growing pain in the EV sector after weak production forecasts from Rivian and Lucid. Continue reading “Fisker slumps as cash warning sends investors ‘running for cover’”

BEIJING, (Reuters) – IM Motors, a premium electric vehicle brand of state-owned Chinese automaker SAIC, said on Friday it has raised more than 8 billion yuan ($1.1 billion) to work on new smart car models and technologies.

IM Motors’ Series B round of equity financing was among the biggest investments into Chinese EV brands in the past two years, following Abu Dhabi-based CYVN’s combined $3 billion investments into NIO and Stellantis’ $1.6 billion purchase of a 21% stake in Leapmotor. Continue reading “IM Motors raises $1.1 bln in one of China EV brands’ biggest recent deals”

BEIJING, (Reuters) – Tesla unveiled new incentives, including insurance subsidies, on Friday to woo consumers in the world’s largest auto market, where the U.S. electric vehicle giant is in a protracted price war against entrenched rivals such as BYD.

Customers picking up existing inventories of Model 3 sedans and Model Y SUVs by the end of March would be entitled to a maximum of 34,600 yuan ($4,807.76) worth of incentives, Tesla said in a post on its Weibo account. Continue reading “Tesla rolls out new incentives in China as price war escalates”

Source : PTI | In a stride towards sustainable transportation, Chief Executive Officer (CEO) of Jammu Smart City Rahul Yadav on Thursday flagged off electric-bus service from Jammu to Suchetgarh border for locals and tourists. The launch of the bus service coincided with the Border Security Force (BSF) extending the beating retreat ceremony, a major attraction for visitors, at Border Outpost Octroi near the International Border in Suchetgarh from weekend days to four days a week – Wednesday, Thursday, Saturday and Sunday, an official said.

The ‘Wagah-Attari-style’ ceremony, comprising a structured parade by BSF men, was launched in October 2021 as part of the government’s border tourism promotion programme.

Continue reading “E-bus service launched from Jammu to Suchetgarh to boost border tourism”

Source : PTI | New Delhi: Toyota Kirloskar Motor on Friday reported its best-ever monthly wholesales at 25,220 units in February. The company’s total dispatches to dealers increased by 61% last month to 25,220 units as compared with 15,685 units in February 2023.

While domestic sales stood at 23,300 units, exports were at 1,920 units in the month, the automaker said in a statement. Continue reading “Toyota records highest-ever monthly sales in February”

(Reuters) – EV startup Fisker warned on Thursday it might not be able to continue as a going concern and its shares tumbled 35% after the stock market closed.

Fisker said it would cut its workforce by about 15% and added it was in talks with a large automaker for a potential investment and joint development partnership. It did not disclose the name of the automaker or financials of the potential deal. Continue reading “EV startup Fisker raises going concern doubts, shares plunge”

(Reuters) – General Motors’ Cruise saw its internal share price cut by more than half from a quarter ago as the fallout from an October accident continues to weigh on the self-driving car company.

Cruise employees were told the share price had been estimated by a third party at $11.80, according to an email viewed by Reuters. That’s down from a prior estimate of $24.27 just one quarter ago. Continue reading “Exclusive: GM’s Cruise valuation slashed by more than half, adding to woes”

Source : PTI | New Delhi: The growth of eight key infrastructure sectors slowed to a 15-month low of 3.6% in January, on account of poor performance of sectors like refinery products, fertiliser, steel and electricity, according to the official data released on Thursday. The growth of eight core sectors — coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity — was 4.9% in December.

It was 9.7% in January 2023.

The previous low level of growth rate was recorded at 0.9% in October 2022. Continue reading “Key infra sectors’ growth slows to 15-month low of 3.6% in January”

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