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Hyundai, Kia Sell Stake in Ola Electric, Exacerbating Share Slump
South Korean automakers Hyundai Motor and Kia sold about 136 million shares in Ola Electric Mobility on Tuesday. While Hyundai offloaded 108.8 million shares at an average price of 50.7 rupees (59 cents), Kia sold 27.17 million shares at 50.55 rupees a share. Ola Electric shares fall after 3.3 percent of equity traded in blocks.
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Flagship India EV Policy Is a ‘Non-Starter’ for Global Firms
India is rolling out a new flagship EV policy in order to attract international automakers. The policy offers to slash duty to 15 percent on any imported electric car priced from $35,000 (roughly Rs. 30 lakh) if the maker invests at least Rs. 4,150 crore, or about $500 million (roughly Rs. 4,150 crore), to set up a local plant within three years.
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India to Open Flagship EV Making Policy to Lure Global Giants
India is set to open applications for its flagship policy offering lower import duties to global EV makers in exchange for manufacturing. The policy was announced in March 2024.
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Tesla Refunds Early India Bookings Signaling Entry Is Near
Tesla is refunding the years-old bookings since the older generation of the Model 3 is being discontinued. The move suggests a clearing of the decks before new models are officially launched in India, following years of hesitation due to high import duties.
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Apple Aims to Build Most iPhones for US in India by End of 2026
Apple is seeking to import most of the iPhones it sells in the US from India by the end of next year. The plans are the latest sign of Apple and its suppliers accelerating a pivot away from China, a process that began when harsh Covid lockdowns hurt production at its largest plant.
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Ola Electric Counted Yet-to-Be Launched E-Motorbikes in Its February Sales
Ola told India’s Ministry of Road Transport and Highways in a March 21 letter that it added customer bookings for 10,866 third-generation e-scooters as well as 1,395 Roadster X motorcycles in its February sales record, citing them as “confirmed orders.” Roadster motorcycles have not been rolled out so far, while third-gen scooter deliveries b...
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India Needs Satellite Internet, Telecom Minister Says in Boost to Elon Musk's Starlink
India needs satellite internet especially in its rural areas, Communications Minister Jyotiraditya Scindia said in an interview in New Delhi Tuesday. The minister’s remarks underscore the solid backing for these services from the Narendra Modi-led government.
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Ola Electric’s Unit Faces Two Insolvency Pleas Over Vendor Dues
Ola faces insolvency pleas from Rosmerta Digital Services Pvt. and Rosmerta Safety Systems — suppliers of vehicle registration services and high-security registration plates respectively. Ola said it strongly disputes the claims and is seeking legal advice on the matter.
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Ola Electric Stores See Raids, Seizures on Flouting India Rules
Ola Electric Mobility Ltd.'s shift to 4,000 brick-and-mortar showrooms since 2022 has faced regulatory challenges. A Bloomberg News investigation found that over 95 percent of the 3,400 showrooms analysed lacked trade certificates under India’s Motor Vehicles Act. In response to customer complaints, authorities across states have raided showrooms...
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Ola Electric Said to Cut Over a Thousand Jobs to Stem Losses
Ola Electric Mobility is laying off over a thousand employees and contract workers,, people with knowledge in the matter have told the media. The cuts at the SoftBank Group-backed firm, span multiple departments, including procurement, fulfillment, customer relations and charging infrastructure, the people said, asking not to be identified as the i...
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Bhavish Aggarwal's Ola To Cut 1,000 Jobs. 500 Were Laid Off In November
The current round of layoffs amounts to over a quarter of Ola's 4,000 employee size as of March 2024 but includes contract workers that aren't counted in the company's public disclosures.
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Tesla Posts Job Openings in India, Signaling Entry Plans After PM Modi’s US Trip
Tesla is hiring in India. The electric-vehicle maker sought candidates for 13 roles, including customer-facing and back-end jobs, according to advertisements on Monday on its LinkedIn page.
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Tesla Begins Hiring In India After PM Modi-Elon Musk Meet In US
Tesla Inc. is hiring in India, a sure sign it plans to enter the market shortly after Chief Executive Officer Elon Musk met Prime Minister Narendra Modi in the US.
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After Gaurav Khanna, Anupamaa Star Alisha Parveen Quits The Show: "Don't Know Why"
Alisha Parveen plays Rupali Ganguly's daughter in the show
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PSEB 10th Result 2024: Girls Outshine Boys Again, Ludhiana Student Secures 100% Marks
PSEB Class 10th Result 2024: Aditi, a Ludhiana student, has topped with a perfect score of 100%. Alisha Sharma, also from Ludhiana, and Karmanpreet Kaur from Amritsar secured the second position.
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Hyundai, Kia Sell Stake in Ola Electric, Exacerbating Share Slump
South Korean automakers Hyundai Motor and Kia sold about 136 million shares in Ola Electric Mobility on Tuesday. While Hyundai offloaded 108.8 million shares at an average price of 50.7 rupees (59 cents), Kia sold 27.17 million shares at 50.55 rupees a share. Ola Electric shares fall after 3.3 percent of equity traded in blocks.
-
Flagship India EV Policy Is a ‘Non-Starter’ for Global Firms
India is rolling out a new flagship EV policy in order to attract international automakers. The policy offers to slash duty to 15 percent on any imported electric car priced from $35,000 (roughly Rs. 30 lakh) if the maker invests at least Rs. 4,150 crore, or about $500 million (roughly Rs. 4,150 crore), to set up a local plant within three years.
-
India to Open Flagship EV Making Policy to Lure Global Giants
India is set to open applications for its flagship policy offering lower import duties to global EV makers in exchange for manufacturing. The policy was announced in March 2024.
-
Tesla Refunds Early India Bookings Signaling Entry Is Near
Tesla is refunding the years-old bookings since the older generation of the Model 3 is being discontinued. The move suggests a clearing of the decks before new models are officially launched in India, following years of hesitation due to high import duties.
-
Apple Aims to Build Most iPhones for US in India by End of 2026
Apple is seeking to import most of the iPhones it sells in the US from India by the end of next year. The plans are the latest sign of Apple and its suppliers accelerating a pivot away from China, a process that began when harsh Covid lockdowns hurt production at its largest plant.
-
Ola Electric Counted Yet-to-Be Launched E-Motorbikes in Its February Sales
Ola told India’s Ministry of Road Transport and Highways in a March 21 letter that it added customer bookings for 10,866 third-generation e-scooters as well as 1,395 Roadster X motorcycles in its February sales record, citing them as “confirmed orders.” Roadster motorcycles have not been rolled out so far, while third-gen scooter deliveries b...
-
India Needs Satellite Internet, Telecom Minister Says in Boost to Elon Musk's Starlink
India needs satellite internet especially in its rural areas, Communications Minister Jyotiraditya Scindia said in an interview in New Delhi Tuesday. The minister’s remarks underscore the solid backing for these services from the Narendra Modi-led government.
-
Ola Electric’s Unit Faces Two Insolvency Pleas Over Vendor Dues
Ola faces insolvency pleas from Rosmerta Digital Services Pvt. and Rosmerta Safety Systems — suppliers of vehicle registration services and high-security registration plates respectively. Ola said it strongly disputes the claims and is seeking legal advice on the matter.
-
Ola Electric Stores See Raids, Seizures on Flouting India Rules
Ola Electric Mobility Ltd.'s shift to 4,000 brick-and-mortar showrooms since 2022 has faced regulatory challenges. A Bloomberg News investigation found that over 95 percent of the 3,400 showrooms analysed lacked trade certificates under India’s Motor Vehicles Act. In response to customer complaints, authorities across states have raided showrooms...
-
Ola Electric Said to Cut Over a Thousand Jobs to Stem Losses
Ola Electric Mobility is laying off over a thousand employees and contract workers,, people with knowledge in the matter have told the media. The cuts at the SoftBank Group-backed firm, span multiple departments, including procurement, fulfillment, customer relations and charging infrastructure, the people said, asking not to be identified as the i...
-
Bhavish Aggarwal's Ola To Cut 1,000 Jobs. 500 Were Laid Off In November
The current round of layoffs amounts to over a quarter of Ola's 4,000 employee size as of March 2024 but includes contract workers that aren't counted in the company's public disclosures.
-
Tesla Posts Job Openings in India, Signaling Entry Plans After PM Modi’s US Trip
Tesla is hiring in India. The electric-vehicle maker sought candidates for 13 roles, including customer-facing and back-end jobs, according to advertisements on Monday on its LinkedIn page.
-
Tesla Begins Hiring In India After PM Modi-Elon Musk Meet In US
Tesla Inc. is hiring in India, a sure sign it plans to enter the market shortly after Chief Executive Officer Elon Musk met Prime Minister Narendra Modi in the US.
-
After Gaurav Khanna, Anupamaa Star Alisha Parveen Quits The Show: "Don't Know Why"
Alisha Parveen plays Rupali Ganguly's daughter in the show
-
PSEB 10th Result 2024: Girls Outshine Boys Again, Ludhiana Student Secures 100% Marks
PSEB Class 10th Result 2024: Aditi, a Ludhiana student, has topped with a perfect score of 100%. Alisha Sharma, also from Ludhiana, and Karmanpreet Kaur from Amritsar secured the second position.
