Source : PTI | Ola Electric has eliminated its regional warehouses across India, and will now leverage its 4,000 retail stores nationwide for maintaining vehicle inventory, spare parts, accessories, and last-mile deliveries. The strategic move is expected to boost EBITDA margins by almost 10 percentage points, besides improving inventory management and faster customer deliveries, sources directly familiar with the matter said.

Ola Electric is redesigning its distribution network and optimizing vehicle registration process as India’s largest electric two-wheeler maker chalks out roughly INR 30 crore monthly savings in an accelerated profitability drive.

Continue reading “Ola Electric accelerates profitability drive axing regional warehouses, optimising costs”

Source : PTI | TVS Indeon Ltd., a wholly owned subsidiary of Lucas TVS Ltd., inaugurated a new battery pack production facility in Gummidipoondi, Tamil Nadu, on February 28. According to an official release, the expansion aims to double production capacity to 1,000 battery packs per day, with the company expecting to reach full capacity by March 2026.

The increased output will cater to the growing demand for lithium-ion battery packs, primarily supplying TVS Motor Company for its e-mobility and energy storage segments. Continue reading “TVS Indeon expands battery pack production facility in Tamil Nadu; aims to double capacity by 2026”

Summary

• Forvia drafts action plan on dealing with U.S. tariffs
• Shares drop 18.6% to bottom of SBF120 index
• Anticipates sales drop in Europe, North America
• Growth expected in South American, Chinese markets

(Reuters) – French car parts supplier Forvia is drafting an action plan on how to deal with the impact of U.S. tariffs on its Mexican operations, and plans to pass on costs to customers, it said on Friday. Continue reading “Car parts supplier Forvia to pass on cost of US tariffs to customers”

(Reuters) – Polestar has secured additional loan funding of up to $450 million, it said on Friday, and would delay its fourth-quarter results to April as the Swedish electric vehicle maker burns through cash in its bid to bolster the business, amid falling demand.

U.S.-listed shares of the company fell 2.7% in premarket trading. Continue reading “EV maker Polestar gets $450 million loan, delays quarterly results”

Summary

• Layoffs threaten U.S. space traffic management efforts
• NOAA’s Office of Space Commerce faces staff cuts
• Space industry faces increased collision risks without coordination
• Space industry fears delays in satellite launch approvals

WASHINGTON, (Reuters) – The Trump administration this week fired employees who were building a system to manage satellite traffic in space, weakening a badly needed effort championed by the U.S. space industry and the president’s first administration, according to people familiar with the move. Continue reading “Trump layoffs hit key ‘air traffic control for space’ unit”

Summary

• GM doubles share of U.S. EV sales to 12% in 2024
• GM credits broad EV lineup for sales surge
• EV sales still only about 6% of overall deliveries
• Trump’s plan to kill EV subsidies would test GM’s EV momentum

DETROIT, (Reuters) – General Motors has spent billions over decades trying to blaze an electric trail, releasing pioneering EVs and hybrids that ultimately failed to achieve mass-market sales before being scrapped. This time might be different. Continue reading “GM’s electric gains face critical test as Trump targets EV subsidies”

Summary

• European Commission to publish automotive action plan next week
• Package aims to help EU compete with Chinese and US car makers
• Includes local content requirements for car battery production

BRUSSELS, (Reuters) – The European Commission will present measures next week meant to boost demand for electric vehicles (EVs)in the European Union, and envisages local content requirements for car battery production, according to a draft of the proposals. Continue reading “EU to propose push to boost EV demand, require more local batteries”

(Reuters) – The leader of one of the largest U.S. labor unions on Thursday called on top asset managers to review Tesla’s valuation as the electric carmaker’s shares have slumped 30% so far this year.

Randi Weingarten, president of the American Federation of Teachers, wrote to top fund firms with Tesla shares including BlackRock Vanguard and T. Rowe Price saying she was concerned about the potential impact on members’ pension portfolios. Continue reading “US union chief calls on fund managers to review Tesla valuation”