Hindustan Motors (HM), the erstwhile maker of the iconic 'Ambassador' cars, expects to set up a new joint venture with a European partner to manufacture electric two-wheelers by next year, a senior official said.
It might look at making electric four-wheelers at a later date, he said.
Ola founder has said granting special incentives to Tesla in India was not be in the best interests of the country, as the government has been working to accelerate the growth of homegrown champions in the electric vehicle (EV) sector, the Financial Times reported.
Bhavish Aggarwal, chief executive of SoftBank-backed Ola, along with a handful of other companies, including Mukesh Ambani’s Reliance Industries and Hyundai, recently won a tender under India’s $2.4-billion programme to boost local battery cell production.
Shiv Sena leader Sanjay Raut will appear before the Enforcement Directorate (ED) office today after the investigating agency declined his request to provide some extra time for his appearance in connection with a money laundering case.
The ED had sent him a second summons to appear before July 1, after he failed to appear in his first summon on Monday due to the then political crisis in Maharashtra.
Maruti Suzuki aims to increase its share in the SUV segment, the fastest growing in India’s car market, by launching four new brands in the next couple of years, said sources.
The company, which has around 43 per cent share of India’s passenger vehicle market, launched on Thursday a refurbished version of its popular compact SUV model Brezza. The price starts at Rs 7.99 lakh for the base variant and goes up to Rs 13.96 lakh for the top variant.
Bosch, the leading supplier of technology and services, is expanding its AIoT (artificial intelligence of things) activities in India. It is doing this by transforming its headquarters in Adugodi, Bengaluru, into a new smart campus called Spark.NXT. AIoT is the combination of artificial intelligence (AI) technologies and the Internet of Things (IoT) infrastructure, where devices communicate with each other intelligently.
The Securities and Exchange Board of India (Sebi) imposed a penalty of Rs 11 crore on eight entities for violation of corporate governance and wrongful sharing of data by the National Stock Exchange (NSE) for development of software on algorithm trading.
The case dates back to a period between 2009 and 2016 when the exchange engaged with academician Ajay Shah and Infotech Financial Services (where Sunita Thomas and Krishna Dagli were directors).
The stage is set for the return of a BJP-led government in Maharasthra with Uddhav Thackeray resigning as chief minister shortly after the Supreme Court declined to stay the floor test called by Governor Bhagat Singh Koshyari in a special Assembly session on Thursday.
The BJP which is the single-largest party in the 288-member Maharashtra Assembly with 106 MLAs, is likely to stake claim to form the government.
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