Electric Mobility News

In the quest for smaller batteries that charge extremely quickly, the startup firms are experimenting with materials like silicon-carbon, tungsten and niobium.

In May, Hyundai Motor Group, which houses Hyundai Motor and Kia Corp, said it would invest 63 trillion won ($48.1 billion) in South Korea through to 2025.

The two companies had signed a partnering agreement in May 2022 for sourcing EV components from VW with a binding supply contract yet to be signed.

As per the report, the company could also retrench employees in the coming days as it refocuses on EV business and improve cash flow.

The batteries will power the Indian automaker's XUV400 SUVs.

India's EV market, dominated by Tata Motors, represents only 1% of the country's annual sales of about 3 million vehicles. The government wants this to grow to 30% by 2030.

Mahindra could consider investing in a battery-cell company to meet future electrification needs.

Okinawa Autotech sold 49,196 electric two-wheelers between January 1 and July 9, 3,372 units more than Hero Electric, which was previously the leading electric two-wheeler manufacturer in India.