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Nasscom Raises Concerns Over ‘Unrealistic’ EV Targets in Delhi, Cites Inadequate Charging Infrastructure

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Nasscom has flagged concerns over “unrealistic electrification targets” for EVs in the national capital citing supply constraints, inadequate charging infrastructure, and challenges ahead for cab drivers in its submissions on Delhi Motor Vehicle Aggregator and Delivery Service Provider Scheme.Nasscom highlighted that only 0.16 percent of the total vehicle in use in Delhi are currently EVs, […]

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Uber CFO Nelson Chai Plans to Step Down in Most Senior Executive Exit Since IPO: Report

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Uber Technologies Chief Financial Officer Nelson Chai is planning to leave the ride-hailing company, Bloomberg News reported on Monday, citing people familiar with the matter. Chai informed Uber CEO Dara Khosrowshahi of his intentions to move on, though a decision on the timing of his departure hasn’t been made, according to the report. Uber did

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LG Electronics Targets $77 Billion Sales by 2030, Aims to Enter List of Top 10 Global Vehicle Component Firms

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LG Electronics said on Wednesday it is targeting KRW 100 trillion (roughly Rs. 6,33,791 crore) in sales by 2030 and plans some KRW 50 trillion (roughly Rs. 3,19,007 crore) of investment as the South Korean company announced its future strategy. It plans to become a global top 10 company in vehicle components by more than

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Tesla Rolls Out First Cybertruck After Two-Year Delay: All Details

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US automaker Tesla on Saturday announced that its first electric pickup — a slick-looking silver Cybertruck — had rolled off the assembly line at its huge plant near Austin, Texas. “First Cybertruck built at Giga Texas!” says a tweet from the company, accompanied by a photo of the futuristic vehicle amid a sea of helmeted

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Amazon Prime Day 2023 Sale: Best Deals on Car Accessories to Grab Today

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Amazon Prime Day Sale 2023 is now in its second day and is available to all Prime members in India. The sale event began on July 15 and will end on July 16. Cardholders from select banks may also be eligible for bonus benefits on certain product purchases. Customers who meet certain payment method requirements

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Ola Advances Plan for IPO as EV Scooters Take Off in India, Plans to Unveil Electric Car in 2024

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Ola Electric Mobility is in line for an initial public offering sooner than its founder previously imagined, reflecting the Indian startup’s whirlwind pace of growth since it started selling electric scooters in late 2021. “I thought it would take me four to six years of revenue to go public,” Founder and Chief Executive Officer Bhavish

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Tata Group to Build Electric Vehicle Battery Plant in UK

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India’s Tata will build an electric vehicle battery plant in Britain, the company and the government said on Wednesday, in a major boost for a car industry in need of domestic battery production to help secure its long-term future. The company said the factory includes an investment of GBP 4 billion (roughly Rs. 32,800 crore).

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All New Tourist Vehicles Provided for Rentals in Goa to be EVs from January 2024, CM Says

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All new tourist vehicles, as well as cabs and motorbikes provided on rent in Goa will have to be electric vehicles from January 2024, Chief Minister Pramod Sawant said on Wednesday. The Goa government proposes major reforms to promote EVs in the coastal state, Sawant said addressing a side-event organised by the NITI Aayog during

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Tesla’s Second-Quarter Profit Jumps 20 Percent as Price Cuts Lead to Record Car Sales

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Tesla reported a jump in second-quarter profits Wednesday as a series of price cuts translated into sharply higher car sales. Elon Musk’s fast-growing electric vehicle company reported profits of $2.7 billion (roughly Rs. 22,156 crore), up 20 percent on the year-ago level. Revenues surged 47 percent to $24.9 billion (roughly Rs. 2,04,334 crore) — a

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Ola Electric Said to Have Recorded $136 Million Loss in FY 2022-23, Missing Revenue Goal

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India’s largest e-scooter maker Ola Electric recorded an operating loss of $136 million (roughly Rs. 1,118 crore) on a revenue of $335 million (roughly Rs. 2,754 crore) in the last financial year which concluded in March, three sources told Reuters, missing its publicly disclosed revenue goal. The 2022-23 loss number of SoftBank-backed Ola Electric, which is

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