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News Updates - Power Today Magazine

News Updates

Foxconn plans EV manufacturing in India: Report
News
  Oct 22, 2021

Foxconn plans EV manufacturing in India: Report

Taiwan-based tech company Foxconn, which has announced its entry into the electric vehicle space, is looking forward to come to India to manufacture its EVs.

Toyota to invest $ 3.4 billion for setting up EV plants in US
News
  Oct 20, 2021

Toyota to invest $ 3.4 billion for setting up EV plants in US

Toyota Motor has announced that it will invest about $3.4 billion to develop batteries for electric vehicles and EV production in United States till the end of the decade

Ford to invest around $ 300 million for EV car parts in UK
News
  Oct 19, 2021

Ford to invest around $ 300 million for EV car parts in UK

Ford said that it would invest up to $316 million to build electric car components at its Halewood factory in northern England.

European carmakers face scarcity of raw materials for EV batteries
News
  Oct 18, 2021

European carmakers face scarcity of raw materials for EV batteries

Major carmakers like Volkswagen, Daimler and Stellantis have been racing to secure battery cell supplies in Europe, but may face a bigger challenge finding enough battery raw materials as they plan to manufacture electric vehicles.

Tata Motors secures Rs 75 bn from TPG Rise Climate for new EV subsidiary
News
  Oct 14, 2021

Tata Motors secures Rs 75 bn from TPG Rise Climate for new EV subsidiary

Recently, the Tata Motors and TPG Rise Climate has entered into a binding agreement, wherein the latter along with its co-investor ADQ will invest in its newly incorporated subsidiary of Tata Motors.

ICRA slashes FY22 growth forecast for auto industries
News
  Oct 13, 2021

ICRA slashes FY22 growth forecast for auto industries

Ratings agency ICRA revised downwards the growth forecast for the auto components industry by 300 basis points for the ongoing fiscal year citing the impact of semiconductor shortage.

Reduced price of conversion kits may spur use of auto LPG
News
  Oct 01, 2021

Reduced price of conversion kits may spur use of auto LPG

A reduction in GST rates on auto LPG and subsidies on conversion kits can spur the use of LPG as a fuel in automobiles, according to Indian Auto LPG Coalition (IAC).

Raymond plans to consolidate engineering business
News
  Oct 01, 2021

Raymond plans to consolidate engineering business

Textile major Raymond has said its board has approved plans to consolidate the tools and hardware and auto components businesses into engineering business.

Raymond plans to consolidate engineering business
News
  Oct 01, 2021

Raymond plans to consolidate engineering business

Textile major Raymond has said its board has approved plans to consolidate the tools and hardware and auto components businesses into engineering business.

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