Results for “Electric vehicles” (2)

1 year ago

IMF endorses Rs 100 bln subsidy for electric vehicles

The IMF has endorsed the government’s policy of Rs 100 billion subsidy for promotion of electric vehicles from 2025–30, sources said. The new electric vehicle policy for five years, aiming to reduce carbon emissions, cut fuel imports, and promote local manufacturing of electric vehicles (EVs). To promote EVs’ adoption, the government has allocated Rs nine billion in subsidies for the fiscal year 2025–26. Read More…

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Hafsa Mustafa Posted in Business

2 years ago

Hyundai, Kia to partner with India’s Exide on batteries

Hyundai Motor and Kia on Monday signed a memorandum of understanding with India’s Exide Energy Solutions Ltd to supply batteries for their electric vehicles in a bid to boost competitiveness in the world’s No.3 auto market. The South Korean auto duo said in a statement that the partnership with Exide Energy, a unit of Exide Industries, aims to localise their EV battery production in India, specifically focusing on lithium-iron-phosphate (LFP) cells. Read More…

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