EV Makers Expect Tax Cuts and Incentives in Budget 2023
The Indian electric vehicle (EV) industry is hoping for the government to rationalize the indirect tax structure on EV components and extend the rollout of incentives under the Faster Adoption ...
Tesla’s Q4 Profit Up 19% YoY, Solar & Storage Revenues Rise to $1.31 Billion
Tesla recorded a revenue of $24.32 billion from all its businesses in the fourth quarter (Q4) of 2022, a year-over-year (YoY) of 37% compared to $17.72 billion in the previous ...
Shell to Acquire US-based EV Charging Firm Volta for $169 Million
Shell USA, a subsidiary of the oil major Shell, has acquired Volta, a U.S.-based Electric Vehicle (EV) Infrastructure company, in an all-cash transaction valued at approximately $169 million. The acquisition ...
Study Says EV Batteries Can Meet Short-Term Grid Storage Demand by 2030
Electric car batteries could boost storage by injecting electricity into the grid during times of scarcity or store during periods of excess and meet short-term storage demand as early as ...
Electric Vehicle Motor Maker Chara Raises $4.75 Million in Pre-Series A Round
Chara, a Bengaluru-based manufacturer of electric motors for electric vehicles (EV), has raised $4.75 million in a pre-series A round funding, which was led by venture capitalist Exfinity Venture Partners ...
Industry Expects Electric Vehicle Sales to Build on Blockbuster 2022
The electric vehicle (EV) industry is entering the new year on the back of blockbuster sales in 2022 when it clocked one million units, a growth of over 300%, as ...
CESL to Lease 3,500 Electric Cars, Invites Bids
Convergence Energy Services (CESL), a wholly-owned subsidiary of Energy Efficiency Services (ESSL), has invited price bids to lease 3,500 electric four-wheelers (cars) to various departments and autonomous bodies across 18 ...
Central Government Issues Tender To Supply 4,675 e-Buses
Convergence Energy Services (CESL), a wholly-owned subsidiary of Energy Efficiency Services (EESL) has issued a tender to select bus operators for the procurement, supply, and maintenance of 4,675 electric buses ...
EV Charging Aggregation Platform ElectricPe Raises $5 Million in Funding
Bengaluru-based electric vehicle (EV) charging aggregation platform ElectricPe closed a pre-series A funding round of $5 million, taking the company’s total capital raised in the last 12 months to $8 ...
Norway EV Sales in 2022 Surged on Expectations of Higher Taxes in New Year
The market for electric vehicles (EVs) expanded further in Norway in 2022 with Norway’s Road Traffic Information Council data showing that 79.3% of all new passenger vehicles sold were electric, ...
Electric Vehicle Sales Clocked a Record One Million Units in 2022
Electric vehicle (EV) sales in India reached a record one million units in 2022, a jump of over 300% against the 322,877 units sold in 2021. EVs accounted for 4.7% ...
EV Charging Stations on Highways to be Powered by Solar
The National Highways Authority of India (NHAI) has proposed to power electric vehicle (EV) charging stations along highways with solar energy wherever feasible, the Ministry of Road Transport and Highways ...
Eicher Motors to Acquire 10.3% Stake in E-Motorcycle Firm for €50 million
India-based automobile conglomerate and the parent company of Royal Enfield, Eicher Motors (EML), said it would acquire a 10.35% stake in European electric motorcycle manufacturer Stark Future with an initial ...
Top Developments That Shaped the Electric Vehicle Industry in 2022
The rapid adoption of electric vehicles (EVs) and their increasing popularity indicate they are no longer a short-term trend but a viable alternative to internal combustion automobiles. EV sales stood ...
Madhya Pradesh Invites Bids for Installing EV Charging Stations
Madhya Pradesh State Tourism Development Corporation (MPSTDC) has issued a request for proposal (RFP) to set up electric vehicle (EV) charging stations at various facilities for 10 years. The cost ...
Neuron Energy to Invest ₹500 Million in Increasing Lithium-Ion Battery Production
Neuron Energy, a Mumbai-based lithium-ion battery manufacturer, will invest ₹500 million ($6.04 million) to increase production capacity. The investment will be split into ₹350 million ($4.2 million) of working capital ...
EV Charging Company ChargePoint’s Q3 FY23 Loss Widens to $84.5 Million
Electric vehicle (EV) charging solution provider ChargePoint Holdings recorded a net loss of $84.5 million in the third quarter (Q3) of the fiscal year (FY) 2023, compared to a loss ...
Pune Municipal Corporation Invites Bids to Set Up Electric Vehicle Charging Stations
Pune Municipal Corporation (PMC) invites proposals for the commissioning, operation, and maintenance of electric vehicle (EV) charging stations for the public at designated locations in Pune. PMC has issued a ...
Goa Invites Bids to Set Up 40 Electric Vehicle Charging Stations
Goa Energy Development Agency (GEDA) invites expressions of interest cum bids for the commissioning, operation, and maintenance of 40 electric vehicle (EV) charging stations at various locations in Goa. The ...
Battery Manufacturing Startup Clean Electric Raises $2.2 Million in Seed Fund
Clean Electric raised $2.2 million in a seed round led by a Bengaluru-based early-stage venture capital firm Kalaari Capital, to produce 5,000 electric vehicles (EV) battery packs monthly from a ...
GreenCell Raises $40 Million Funding from ADB to Develop Electric Buses
The Asian Development Bank (ADB) has inked a $40 million financing package with India-based shared electric mobility company GreenCell Express (GEPL) to develop 255 battery-powered electric buses (e-buses). The e-buses ...
EV Financing Platform Revfin Raises $10 Million to Expand Operations Across 25 States
Electric Vehicle (EV) financing platform for individuals Revfin has closed a Series A funding round of $10 million in a combination of equity and debt. The funding round was led by ...
Electric Two and Four-Wheeler Sales Increase 183% YoY in Q3 2022
Retail sales of electric vehicles (EVs) clocked 257,278 units in the third quarter (Q3) of the calendar year 2022. This represents a 183% year-over-year (YoY) growth compared to the 90,831 ...
West Bengal Tenders 205 EV Charging Stations to be Installed Across the State
West Bengal State Electricity Distribution Company (WBSEDCL) has invited bids for the supply, installation, operation, and maintenance of the electric vehicle (EV) charging stations and battery swapping stations. The stations ...
Uttar Pradesh Announces a Slew of Incentives for EV and Battery Manufacturing
Uttar Pradesh will provide a 30% base capital subsidy for the first two integrated electric vehicle (EV) and ultra-mega battery projects up to a maximum of ₹10 billion (~$121.43 million) ...
