MUMBAI: Ola Electric is cutting several jobs as the startup attempts to check costs and stem its losses, sources said. Over 1,000 employees and contract workers across departments including fulfilment, distribution and customer relations have been impacted by the move. The company did not comment on the number of affected jobs but said that it…
NEW DELHI: Finance minister Nirmala Sitharaman, while announcing the Union Budget on Saturday announced a proposal to extend duty exemptions on capital goods that are used in the manufacturing of lithium-ion batteries. This move aimed to boost domestic production in this major sector which is essential for electric vehicles and mobile phones.The FM said, “To…
NEW DELHI, Electric vehicle maker OPG Mobility, formerly Okaya EV, is seeking to raise around Rs 400 crore within the next 18-24 months to fuel its growth plans as it embarks on product portfolio and network expansion drive, according to its Managing Director Anshul Gupta. The company, which underwent a rebranding exercise recently, will house…
NEW DELHI: Price cuts towards end of 2024 saw sales of electric cars rise 20%, with the industry’s volumes finishing a shade lower than one lakh units against 82,688 units in the previous year.The growth comes despite doubts about a mass adoption for EVs as customers complain over a poor public charging infrastructure, longevity of…
CHENNAI: After SAIC (which owns MG) , Sajjan Jindal’s steel-to-paints conglomerate JSW Group is in talks with multiple auto majors for more electric vehicle joint ventures. According to sources with direct knowledge of the matter, among the OEMs that JSW is in talks with is Chinese auto major Geely. JSW, say sources, is betting aggressively…
BANGKOK: Volkswagen and Shanghai’s SAIC Motor have agreed to sell a factory in China’s far western Xinjiang region that drew criticism due to accusations by western governments of human rights violations. The companies also said Wednesday that they were extending their 40-year-old automaking joint venture until 2040, ahead of schedule, and that the JV will…
