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Fisker has announced that through its mobile app, customers will soon be able to finance their vehicle via a partnership with JPMorgan Chase Bank in the US or Santander Bank in Europe. In addition to finance, the app will also be updated to allow customers to make other purchases. Shoot me an email at william@teslarati.com.
billion) in green financing for its first battery gigafactory in Dunkirk , finalising its funding. The financing allows Verkor to fund construction of the plant, which will supply Renault’s premium and Alpine electric models among others. French battery start-up Verkor said on Friday it had secured more than 1.3
The financing partners will extend credit lines to the customers, with interest rates ranging between 12.4% The financing partners will extend credit lines to the customers, with interest rates ranging between 12.4% and 15%, with a repayment period extending up to five years. and 15%, with a repayment period extending up to five years.
Renault India and Bajaj Finance are confident that this collaboration will strengthen their position in the market and reaffirm their shared mission of providing outstanding autofinancing solutions to customers. RIPL), the European car brand in India, has partnered with Bajaj Finance Ltd., an arm of Bajaj Finserv Ltd. ,
The disparity in GST rates between Auto LPG and EVs, which enjoy heavy subsidies, creates a financial barrier for consumers and businesses considering the switch to Auto LPG. his appeal, Gupta highlighted the substantial environmental and economic benefits that Auto LPG offers over traditional fuels.
In the interim budget, the Finance Minister had hinted about the GoI’s strategy to promote energy security in terms of availability, accessibility and affordability. This policy also includes technology development, skilled workforce, extended producer responsibility framework, and a suitable financing mechanism. on copper scrap.”
Earlier this week, Wang was in France where he met French Finance Minister Bruno Le Maire. Download ETAuto App Get Realtime updates Save your favourite articles Scan to download App The post Visiting Chinese trade official warns EU on greentech probe – ET Auto appeared first on Bauaelectric Auto News.
Under a BOT contract, an entity (usually a govt) grants a concession to a private firm to finance, build, and operate a project for a period of up to 30 years, following which the project is returned to the public entity that originally granted the concession. So, we will start exporting energy in the next 10 years,” Gadkari said.
The results, following three years of in-house piloting, replicate what Vulcan has seen in its lab and pilot plant operations, and are in line with its commercial plant expectations and Vulcan’s financing model, the company added.
The strategic collaboration between Roadcast and AMU aims to revolutionize the EV market in emerging regions, creating opportunities for profitable EV financing. The collaboration aims to implement Roadcast’s GPS technology in as many e-rickshaws financed by AMU as possible.
SIDBI also supports other lenders by reducing their perceived risks, making the financing of EVs more accessible. SIDBI has launched the EV4ECO & EV-RSF schemes to enable the affordable financing of electric vehicles. SIDBI is pleased to support BluSmart in their journey of zero emission ridehailing service.”Dr. ”Dr.
Ashok Leyland’s key subsidiaries Switch Mobility, Ohm Mobility, Hinduja Leyland Finance and Hinduja Tech are progressing well and continue to add immense value to Ashok Leyland’s future. The board of directors of the company, at their meeting held on March 25, 2024, has declared an interim dividend of INR 4.95
App-based mobility providers such as Uber have approached the finance ministry, Goods and Services Tax Council and the Authority for Advance Rulings (AAR) seeking clarity on whether their business was liable to tax or not. Cab-hailing platforms Ola and Rapido did not respond to queries from ET.
Amphion addresses critical challenges faced by the commercial electric vehicle (EV) industry, including financing, data analytics, charging infrastructure, and energy efficiency. Amphion was launched at Day Zero 2024, Log9’s annual event. Its comprehensive suite of services empowers stakeholders across the EV ecosystem.
The company onboarded veteran investor Sachin Maheshwari as Head of Corporate Development, finance leader Nitin Goel as Chief Financial Officer (CFO), and R&D Pioneer Chidambaram Mandan as Vice-President and Head of R&D and Quality Control.
Mining conglomerate Vedanta Ltd has secured an 11-year term loan of INR 3,918 crore from Power Finance Corporation Ltd ( PFC ), sources said. The latest financing follows Vedanta group’s takeover of Meenakshi Energy Ltd on December 28 in an NCLT-driven insolvency process. GW by FY27, sources with knowledge of the matter said.
million) from private equity firm Stakeboat Capital in its first financing round. Download ETAuto App Get Realtime updates Save your favourite articles Scan to download App The post Robotics company Difacto raises USD 4.8 mn from Stakeboat Capital – ET Auto appeared first on Bauaelectric Auto News.
sources of the key electric vehicle battery metal, although key financing and local regulatory challenges remain. Piedmont must still obtain a local zoning variance and financing for the project, estimated to cost more than USD 1 billion. Low lithium prices may also hobble Piedmont’s financing attempts, analysts said.
billion) asset company, will help shore up the finances of loss-making battery maker SK On by combining it with a profitable company that has a stronger balance sheet, analysts said. 2 conglomerate undertakes a major overhaul to boost profitability. The move, which creates a 100 trillion won (USD 72.57
What is also helping is easy availability of finance. CarTrade, which acquired OLX last year, for instance offers a financing marketplace for used products both auto and non-auto. Typically, second hand car finance comes at a higher cost of 11.4-15% 15% compared to 8.2-10.5% for new ones.
With this partnership, ACKO Drive is offering Zoomcar Hosts substantial savings of up to INR 85,000 on new car purchases along with attractive offers on car financing with instant loan approval, express car delivery and more. New Delhi: Zoomcar Holdings, Inc.,
Last August, Ola Electric raised USD 240 million from State Bank of India for building the Gigafactory as part of a USD 384 million financing round that saw participation from Singapore’s sovereign fund Temasek. GWh through FY25 and FY26.
Its potential remains vast, with opportunities ranging from fleet financing to advanced AI-driven insights, promising a future wherein the platform becomes an indispensable tool in our pursuit of a safer, more efficient, and sustainable transportation ecosystem.
Indian Auto Tech company CARS24 ‘s wholly-owned subsidiary, CARS 24 Financial Services, on Tuesday announced a strategic partnership with Credgenics to facilitate a digital-first approach in the business. We are excited about the upcoming features and the continued innovation that Credgenics brings to the table.”
Finally, BIS compliance can unlock new financing avenues for Log9. Download ETAuto App Get Realtime updates Save your favourite articles Scan to download App The post LTO batteries of Log9 Materials receive BIS certification – ET Auto appeared first on Bauaelectric Auto News.
The report found Bourns Inc, a California-based auto supplier, had sourced components from JWD, which was added to the UFLPA Entity List in December. The chair of the Senate Finance Committee said on Monday he was expanding its probe into German automaker BMW ‘s use of electronic components from a banned Chinese supplier.
New Delhi: Chargeup , a leading battery financing and full stack EV asset management platform , plans to onboard 1 lakh drivers within the next 3 years and extend its reach to 1 million drivers across 30 cities within 5 years.
government’s International Development Finance Corp is one of TechMet’s biggest investors. . “Some of our projects may need more investment from us than we expected because cashflows have been reduced by the low prices.” ” The U.S.
The overhaul comes with the European steel industry facing upheaval as it tries to finance less carbon-intensive production. Download ETAuto App Get Realtime updates Save your favourite articles Scan to download App The post Tata threatens to shut steelworks early ahead of strike – ET Auto appeared first on Bauaelectric Auto News.
To address the real and perceived financing risk towards deploying clean energy, a comprehensive risk mitigation plan should also be created to support the project’s smooth commissioning and operations. Additionally, it is important to pool in low-cost financing options for renewable energy projects consisting of BES.
In January, a source told Reuters the French company was in talks with German auto giant Volkswagen about adapting a battery for cars. The company plans to seek more than 100 million euros as part of a first financing round in the second half of this year to help develop the new battery, Bouveret said.
Auto marketplace CarTrade Technologies – which bought pre-owned goods classifieds platform OLX in a INR 535-crore transaction earlier this fiscal – is open to further acquisitions to fast-track its expansion plans in the country. CarTrade is a platform for classified automobile ads.
The rating agency also expects non-bank finance companies to continue to focus on used vehicles as assets class, presenting a favourable risk-return in terms of asset quality and pricing power. However, FY25 growth rates are likely to decrease from FY24 levels,” said Karan Gupta, Director, Financial Institutions, India Ratings.
Gupta recalled that in 2016-17, the penetration of finance was hardly 7%. Mahindra FirstChoice enables used car sales through inspections before it goes for financing. More customers are looking for young used cars, which are used for three to five years, whereas the availability of cars is five years and beyond.
” According to its 2023 annual report, the Franco-Italian-American carmaker has set aside 951 million euros to finance the extension of the Takata airbag recall campaign in extended Europe, North America, the Middle East, Africa and the Americas.
EVs were among several topics in the spotlight for ClimB, an annual platform for advancing climate solutions and sustainability initiatives around clean energy, finance, green infrastructure, mobility and technology to accelerate global efforts towards achieving net-zero emissions by 2050. “India has significant financing needs.
A company statement said the Steel Ministry suspended V S Chakravarthy, Director (Commercial), and A K Tulsiani, Director (Finance). In compliance with instructions from the centre, SAIL also placed 26 Below Board Level officials of the Company on suspension with immediate effect.
.””The onboarding of these EVs was facilitated through Assure by BluSmart , a unique opportunity for retail and institutional investors with access to capital to help finance the transition to electric mobility. Through Assure, institutions can finance the purchase of electric cars and lease them to BluSmart against fixed rentals.”
On April 12, ONDC-backed Namma Yatri, which was focused on auto rickshaws, launched cab services in Bengaluru, where it will charge a daily subscription instead of a commission per ride, which is the model used by Ola and Uber. However, these three companies firmly remain in the red.
Besides Ankush, whose lending startup Avail Finance was acquired by ANI Technologies in 2022, the CXO team includes executives like chief financial officer Kartik Gupta and chief business officer Sidharth Shakdher. Both Gupta and Shakdher have been with Ola Cabs for less than one and a half years.
The customer experience has been significantly enhanced with over 4 million app downloads and achieving an overall rating of 4.9 The company has also secured long-term sustainable EV asset financing of USD 200 million, backed by leading Development Financial Institutions (DFIs).
Backed by Mufin Green Finance Limited, Urja Mobility will purchase advanced high-quality battery packs from Neuron Energy. These battery packs will then be leased to 3Eco for their esteemed EV initiative.
The executive in charge of the company’s international operations will leave, as will the company’s finance chief. Johnston and Kochhar had essentially run the company together, although the reorganization will see Johnston stepping back.
On Thursday, the Volkswagen Group’s finance chief said it is in concrete talks about partnering up on passenger car production in India. In February, the automaker signed a supply agreement with Mahindra & Mahindra on the use of key electric components of the German carmaker’s open platform for electric vehicles (EVs).
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