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.

Debt-ridden Future Enterprises Ltd (FEL) has announced another default, this time on payment of interest of Rs 6.15 crore for its non-convertible debentures.

The due date for payment was June 29, 2022, FEL said in a regulatory filing on Thursday.

"The Company is unable to service its obligations in respect of the interest on Non-Convertible Debentures...," it said.

McDonald's India on Thursday announced the launch of its first all-women drive-thru restaurant in Ekta Nagar, Gujarat.

This new restaurant, operated by Westlife Development, McDonald's India's franchise partner, is located in the vicinity of the Statue of Unity.

To run this drive-thru restaurant, Westlife Development employed 28 women from nearby villages, said a statement issued by the franchise partner.

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).

Daily coronavirus cases in India were recorded over 18,000 after a gap of 130 days, taking the COVID-19 tally to 4,34,52,164, according to the Union Health Ministry data updated on Thursday.

The active cases crossed the one-lakh mark again after 122 days.

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.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.