India is set to revamp its electric vehicle incentive policy, expanding opportunities for automakers to invest in electric vehicle production. The new approach, expected to be finalized by March 2025, represents a significant shift in the country's strategy to promote EV manufacturing. Previously, the policy primarily incentivized automakers to build...
India’s Ola Electric to Raise $662 Million in IPO
Bangalore-headquartered electric vehicle company Ola Electric has filed for an initial public offering (IPO) planned for this year. The IPO aims to raise $662 million, which will make Ola Electric the first EV maker to be publicly listed in India. This upcoming IPO is seen as an important test case...
U.K. Govt Agency to Invest $1 Billion in India’s Climate-Related Projects
Drawn to India's expanding renewable energy capacity, the UK government’s development finance institution British International Investment (BII) plans to invest $1 billion in Indian climate-related projects by 2026. Nick O'Donohoe, CEO of BII told Reuters "We are evaluating exciting businesses in sectors such as bio-fuels, circular economy … as part...
Tesla Expresses Interest in Setting Up a Plant in India
Subsequent to a proposal from Tesla, which is mulling an entry into India's automotive market, the country's commerce ministry is working on a new electric vehicle policy that might slash import taxes for automakers who commit to some local manufacturing, reports Reuters. The policy being considered may allow automakers to...
India Encourages EV Sales
Makers of Two - Wheelers and Three Wheelers electrics in India are now permitted to sell their vehicles without a battery. This way a third party can add a battery or provider of "energy as a service" can be the battery supplier. This could lower the overall cost of ownership,...
Germany's Schaeffler To Support Electric Vehicles in India
Germany-based industrial and automotive components manufacturer Schaeffler Group plans to set up an engineering unit in India to meet the growing needs of the country's electric vehicles. The unit will help Schaeffler tailor India-specific solutions, based on the global solutions developed by the company. The group already uses India as...