Latest news with #EV-related
New Indian Express
5 days ago
- Automotive
- New Indian Express
TN signs pact with ITDP to boost EV infrastructure
CHENNAI: In a major push towards clean eco-friendly transportation, the Tamil Nadu Green Energy Corporation Limited (TNGECL) signed a memorandum of understanding (MoU) with the Institute for Transportation and Development Policy (ITDP) on Tuesday. The MoU, signed in the presence of Tamil Nadu Electricity Board (TNEB) CMD J Radhakrishnan, aims to promote the use of electric vehicles (EVs) and strengthen EV charging infrastructure across the state. As per the agreement, ITDP India will act as a knowledge partner and offer technical support to TNGECL in several important areas, including creating a mobile application for public EV charging, setting up a single-window portal for EV-related policies and market information, planning for land use and feasibility, and preparing city-level EV strategies that can be expanded in future. According to a release, the partnership highlights the state's strong focus on promoting green energy, climate protection, and better urban transport systems.
Time of India
11-06-2025
- Automotive
- Time of India
Godrej's Motor Solutions targets ₹1,000 crore revenue by FY28
The Motor Solutions business of Godrej Enterprises Group is aiming for a revenue of ₹1,000 crore by financial year 2028, with exports projected to contribute 20% of the total. The company expects to reach ₹750 crore in revenue by FY26, driven by increasing demand in the electric vehicle (EV), HVAC , pump, and actuator sectors across domestic and international markets. The company has announced a capital investment of ₹40 crore over the next three years to expand manufacturing capabilities and introduce new technologies in response to EV-related export demand. Manufacturing expansion and technology investments Xercsis Marker, Executive Vice President and Head of the Motor Solutions Business, stated: 'We are strengthening our manufacturing capabilities through significant R&D investments and advanced technology adoption. We continue to invest in technology and capacity to serve identified growth sectors like EV, automation, actuators, pumps, while advancing innovations in motor design to reduce reliance on rare-earth materials.' To meet growing demand, a new assembly line for EV motor components has been commissioned. The facility will also install a high-precision lamination punching line from AIDA Japan to support requirements for thin laminations used in EV, aerospace, and automation industries. Godrej holds a 60% market share in hermetic motors for refrigeration and air-conditioning in India. Product development and sustainability measures Recent developments include fully assembled motors for off-road EV applications catering to customers in the US, as well as upcoming manufacturing for a German group requiring compatible controller solutions. The business is also developing Switched Reluctance and Synchronous Reluctance Motors aimed at reducing rare earth magnet dependency while improving performance. The Pune-based facility has an annual production capacity of over six million motors and offers more than 300 customised SKUs for various industrial uses. The campus has certifications for environmental performance including IGBC Platinum and GreenCo Platinum Plus . It is water positive, recycles 80% of finished goods packaging, and operates with a zero-waste-to-landfill approach. Situated on a 36-acre manufacturing campus in Shindewadi, Pune, the unit benefits from a supply chain with most vendors located within a 100-kilometre radius. This regional sourcing is aligned with Pune's broader industrial ecosystem supporting India's automotive and manufacturing sectors.
The Sun
04-06-2025
- Business
- The Sun
Bateriku.com and RYDE EV unite to rev up electric mobility in Malaysia
PETALING JAYA: In a strategic move to revolutionise the electric mobility landscape in Malaysia, a vehicle support ecosystem, has teamed up with RYDE EV, a key player in electric vehicle technology, to launch a transformative initiative at the Bateriku Pitstop in Cheras, Kuala Lumpur. The collaboration introduces an innovative EV Swap Station and ICE-to-EV conversion services, marking a significant leap forward in promoting sustainable transportation solutions. By leveraging both companiesʼ strengths, the initiative aims to provide seamless, accessible and eco-conscious alternatives to traditional vehicle ownership. At the core of the partnership is a shared mission: to make electric mobility practical and scalable, while empowering communities through gig economy model BHero and enhancing environmental impact through ESG-driven practices. Through the partnership, and RYDE EV will provide EV Swap Stations to enable quick and convenient battery swaps to reduce EV downtime at 10 Bateriku Pitstop locations – Bateriku Bangsar, Bateriku Ampang, Bateriku Kelana Jaya, Bateriku Kepong, Bateriku Pudu, Bateriku Saujana Putra, Bateriku Subang Perdana, Bateriku Permaisuri Cheras, Bateriku Balakong and Bateriku Kajang. It will also support affordable transformation of internal combustion engine vehicles into electric-powered ones, mobilising gig economy network to support EV-related services, creating new income streams and entrepreneurship opportunities besides aligning with ESG standards. CEO Azarol Faizi said: 'Our partnership with RYDE EV is a bold step towards building a smarter, greener mobility future for Malaysians. By merging innovation with social responsibility, weʼre not just supporting the EV ecosystem, weʼre creating a new wave of opportunities for our BHeroes and contributing meaningfully to national sustainability goals.ˮ RYDE EV CEO Syed Ahmad Faiz said that working alongside allows them to scale their EV technology to the grassroots. 'From quick-swap stations to converting petrol vehicles into clean EVs, this partnership is about making green mobility accessible for everyone ,and thatʼs a future worth driving towards.'
Yahoo
25-02-2025
- Automotive
- Yahoo
Blue Oval City delay gives West Tennessee opportunity to prepare for the future
The recent decision to delay the opening of Blue Oval City, Ford's massive electric vehicle (EV) manufacturing facility, has created quite a stir in West Tennessee. The prospect of thousands of new well-paying jobs in a relatively short period of time has been heralded as an economic game-changer for the region. However, the delay may offer benefits for the state and the region that are worth considering. First, this pause provides an opportunity for regional infrastructure and workforce development to better-align with the demands of this project. Blue Oval City will definitely have a profound and transformational impact on the local economy. An influx of jobs and people of the magnitude projected for this project requires a robust infrastructure that can support both the facility and the surrounding communities. Roads, public transportation, housing, healthcare and educational resources will all be impacted by the arrival of this large workforce. The delay allows state and local governments to address these needs more thoroughly. The additional time provides Tennessee's leadership a chance to plan and invest in ways that will make West Tennessee an even more attractive place to live for newcomers and will provide a slower and more sustainable pace of growth for long-time residents. The delayed opening also allows the region to more effectively develop the talent pipeline necessary for Blue Oval City's long-term success. With time to establish partnerships between Ford, community colleges, universities and technical schools, Tennessee can cultivate and nurture a highly skilled workforce equipped to excel in high-tech, EV manufacturing jobs. West Tennessee institutions like Tennessee Colleges of Applied Technology (TCATs) and local high schools have the chance to refine training programs, develop tailored certifications, and expand access to technical education that supports EV-related requirements. Opinion: Rep. David Kustoff: A blueprint to keep Tennessee competitive and prosperous This delay enables residents to prepare for stable, high-paying jobs, creating pathways for local talent to stay and thrive in their communities. As a workforce-aligned online nonprofit university with more than 5,400 current students throughout Tennessee, Western Governors University (WGU) plays a pivotal role in preparing skilled talent and offering educational partnerships, flexible learnings paths and industry-specific programs in fields such as information technology, cybersecurity and supply chain management, which are critical for EV manufacturing. The university's flexible, tech-forward, online model makes it easier for Tennesseans to upskill or transition into these high-demand roles without sacrificing current employment. The timeline shift allows for more engagement with local businesses that could play critical roles as suppliers and service providers for Blue Oval City. By cultivating relationships and resources, these small and medium-sized enterprises will have a greater opportunity to grow and participate in the economic boom that Blue Oval City is expected to bring. The delay can help these businesses prepare for expanded demand, thus ensuring they are ready to meet the needs of the new manufacturing hub and further fueling economic growth across West Tennessee. Finally, the delay offers an opportunity for Blue Oval City to be a model of sustainable development. As the project timeline extends, Ford and Tennessee have time to collaborate on eco-friendly practices and infrastructure improvements that will make Blue Oval City a benchmark in green manufacturing. Through sustainable energy sources, waste reduction and mindful water use, Blue Oval City can set a new standard in the automotive industry, further enhancing Tennessee's reputation as a leader in sustainable manufacturing. While delays are often seen as setbacks, this additional time gives Tennessee a unique opportunity to maximize Blue Oval City's benefits for the people of West Tennessee and the entire state. The result can be a more prepared workforce, strengthened infrastructure, empowered local businesses and a commitment to environmental responsibility. If managed well, this delay could transform West Tennessee into an even more vibrant hub of opportunity that propels growth and prosperity for the foreseeable future. Derriell Springfield resides in Jackson and is a partner success manager for Western Governors University. He earned his bachelor's and master's degrees from Tennessee State University and his doctor of education degree from East Tennessee State University. This article originally appeared on Jackson Sun: Blue Oval City delay helps West TN with sustainable growth | Opinion
Yahoo
13-02-2025
- Automotive
- Yahoo
Why Electric Vehicle Stocks Rivian, Wolfspeed, and Indie Semiconductor Rallied Today
Shares of electric vehicle (EV) stocks were on the rise Thursday, including Rivian (NASDAQ: RIVN) and EV-related power chipmakers Wolfspeed (NYSE: WOLF) and Indie Semiconductor (NASDAQ: INDI). These stocks were up 5.7%, 14.9%, and 5.1%, respectively, as of 1:30 p.m. ET. There was no company-specific news for these three stocks today. That means investors were likely reacting to positive incremental news for EVs generally. Plus, given how beaten down these stocks were, even "less bad" news was probably enough to generate short covering. While each of these stocks is experiencing a big move today, all three have been beaten down severely. Indie Semiconductor is down 78% from all-time highs, but Rivian and Wolfspeed are down a stunning 93% and 96%, respectively. Meanwhile, short interest in each of these stocks is relatively high: Rivian's short interest as a percentage of shares outstanding is 14%, and Wolfspeed's and Indie's short interest are both around 25%. All three companies are currently losing money as they invest in an attempt to capture their share of the future EV industry. Rivian is attempting to scale its manufacturing plants and best rivals in terms of technology, which is expensive. Wolfspeed has invested huge sums of money in silicon carbide chip-production plants in the U.S., but thus far has little revenue to show for it. And Indie is a small-cap stock that produces both sensors and power chips for autonomy and electrification. However, with last year's severe slowdown in electric vehicle sales, all three are seeing muted demand for their products after making big investments. The demand slowdown has been especially painful since each stock has to invest capital up front but isn't receiving as much revenue from those investments yet. It was unclear exactly why beaten-down EV-exposed stocks moved today. The rise could be related to a media story published today that the State Department was planning to buy 400 armored electric vehicles to transport diplomats and other high-level officials. The story is likely getting attention because it was initially reported the contract would go to the Tesla (NASDAQ: TSLA) Cybertruck. Given CEO Elon Musk's involvement in the Trump Administration, the story highlighted a potential big conflict of interest. A department official later clarified that in December, the State Department issued a request for information from private companies about building an armored EV and that only one company had responded, likely Tesla. The official then went on to say the next step would be an official solicitation to manufacturers to bid on the project. However, the solicitation is on hold for now. Still, the news may have spurred buying or short covering in EV stocks, given that investors have thought the current administration was less EV-friendly. Seeing the State Department's interest in purchasing armored EVs would reverse that narrative. While the story may be considered a positive today, investors should know that this initial request happened in December under the previous administration. Currently, the project is on hold, and a department official said there are no current plans to issue the bidding request. Additionally, in a post on X, Elon Musk denied the $400 million award: Therefore, investors shouldn't take today's EV stock action as a sign of a recovery. It's likely just a dead cat bounce. A real recovery in these stocks will come only from a broader resumption of EV demand growth after a big slowdown last year. That would happen either due to technological innovation that lowers EV prices and spurs demand and/or lower inflation and interest rates. Before you buy stock in Rivian Automotive, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Rivian Automotive wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $0!* Now, it's worth noting Stock Advisor's total average return is 0% — a market-crushing outperformance compared to % for the S&P 500. Don't miss out on the latest top 10 list. Learn more » *Stock Advisor returns as of February 7, 2025 Billy Duberstein and/or his clients have no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Tesla. The Motley Fool has a disclosure policy. Why Electric Vehicle Stocks Rivian, Wolfspeed, and Indie Semiconductor Rallied Today was originally published by The Motley Fool Sign in to access your portfolio
