Category: Auto

Indian electric scooter maker Ola Electric expects revenue to quadruple to $1.5 billion (nearly Rs 12,300 crore) this fiscal year and then double again within two years, according to a document containing company forecasts and people familiar with the matter. However, the figures were released before the federal government unexpectedly cut e-scooter incentives in May….

Tesla Chief Executive Elon Musk on Wednesday set new goals for artificial intelligence products, including self-driving software and the use of humanoid robots in factories, although he acknowledged that he had previously been optimistic. Musk added that the electric car maker is in early talks with a major automaker to license its fully autonomous technology….

Tesla representatives will meet India’s commerce minister this month to discuss plans to set up a factory to produce what the company says is a brand-new car worth $24,000 (about 20 lakh rupees), a person with direct knowledge of the matter told Reuters. Tesla has expressed interest in setting up a factory in India to…

Just one week after the Hungarian Grand Prix, Formula 1 will return to the Belgian Grand Prix for round 12 of the 2023 F1 Championship. The F1 race weekend starts on Friday, July 28 and runs until Sunday, July 30. This is F1’s sprint weekend, so there are fewer practice sessions, and qualifying for the…

Kia recently launched the 2023 Seltos facelift, which is one of its most popular cars in India. This midsize SUV offers an impressive balance of power and comfort, making it suitable for both city driving and long-distance driving on the highway. In addition to a new look, the Kia Seltos (2023) also comes with a…

A group of major automakers said Wednesday they are forming a new company to offer electric vehicle charging services in the United States to challenge Tesla and try to take advantage of subsidies from the Biden administration. The group includes General Motors, Stellantis, Hyundai Motor and its Kia subsidiary, Honda, BMW and Mercedes-Benz, brands that…

In the most recent showdown ahead of the 2023 London Electric Grand Prix, the final race of the 2022-23 Formula E season, Formula E broke the indoor land speed record. The record attempt was successfully held at London’s ExCel Arena, with NEOM McLaren driver Jake Hughes setting a speed of 218.71 km/h on the 346…

China’s BYD has told its Indian joint venture partner that it will shelve a new $1 billion (roughly Rs. 8,225 crore) investment in the production of electric vehicles after its investment proposal faced scrutiny in New Delhi, two people familiar with the matter said. BYD and its partner, privately held Mejia Engineering and Infrastructure, submitted…

Ola Electric, India’s largest electric scooter maker, had revenue of $335 million (about Rs 2,754 crore) and an operating loss of $136 million (about Rs 1,118 crore) in the last fiscal year that ended in March, three sources told Reuters, falling short of publicly disclosed revenue targets. SoftBank-backed Ola Electric, which is preparing for an…

Two senior Tesla executives discussed the company’s plans to enter India with officials from India’s investment promotion agency in New Delhi, two people with direct knowledge of the matter said, in the latest in a series of high-level talks. The US automaker has expressed interest in setting up a factory in India to produce a…