Business & Finance

Envision AESC Signs Agreement to Develop Phase 2 of Ordos Battery Project – EQ Mag

April 27, 2023 Anand Gupta

Chinese battery supplier Envision AESC formally signed the agreement with the governments of Ordos and Yijinhuoluo County for the development of the phase 2 of its Ordos battery project. The signing ceremony was held in Shanghai. The phase 2 of the Ordos battery project has a production capacity of 20GWh per year for high-quality battery […]

Business & Finance

Tesla Prices Drop Back to Levels from Two Years Ago, Ford’s Electric Pickup Increases US$20,000 – EQ Mag

April 27, 2023 Anand Gupta

Traditional automakers are facing increasing cost pressures while observing Tesla’s declining prices in the electric vehicle market. Meanwhile, EV competitors are not only failing to follow suit, but are raising prices themselves, leading to a shift in the competitive landscape in the EV segment. In 2021, Ford launched their all-electric pickup truck, the F-150 Lightning, […]

Kutch heritage, Modhera solar-powered village

Business & Finance

Jolywood and Baida Seiko to Jointly Invest in 13.5GW TOPCon Cell Project – EQ Mag

April 27, 2023 Anand Gupta

Jolywood, a major Chinese PV product manufacturer, announced on April 17 that it, along with its subsidiary Zhongtai Jolywood, signed a cooperation agreement with Baida Seiko and its subsidiary Jiangxi Baida. The agreement establishes a long-term and stable partnership with a focus on collaborating on the research and development, manufacturing, and sales of TOPCon cells. […]

Four Tesla models approved for Indian roads

Business & Finance

Tesla raises 2023 spending forecast as it races to ramp up output – EQ Mag

April 26, 2023 Anand Gupta

Tesla Inc raised its capital expenditure forecast for 2023 on Monday as the automaker ramps up output at its factories to take advantage of the rising interest in electric vehicles. The company, led by Elon Musk, said in a filing that it expects to spend between $7 billion and $9 billion this year, higher than […]

Juniper Research EV Charging to Generate $300 Billion Globally by 2027, as Siemens Ranked Market Leader

Business & Finance

Evergrande EV unit set for USD 3.6 bn gain from liability transfer – EQ Mag

April 26, 2023 Anand Gupta

Struggling Chinese real estate conglomerate China Evergrande Group (OTC:EGRNF) said its electric vehicle unit will record a gain of about 24.79B yuan (US$3.59B) from transferring two companies to another group unit as part of a massive restructuring plan. The $3.59B gain will come to fruition after the sale of the entire issued share capital of […]

Business & Finance

Thermax says its arm Sustainable Energy Solutions stands liquidated – EQ Mag

April 26, 2023 Anand Gupta

The winding up of this subsidiary will not affect any business/accounting policies and will not have any significant impact on the financials etc., according to a regulatory filing. Energy and Environment solutions provider Thermax on Tuesday announced that its arm Thermax Sustainable Energy Solutions stands liquidated, as per a National Company Law Tribunal order. The […]

Business & Finance

Global pension funds in fray for Mahindra Susten InvIT stake – EQ Mag

April 26, 2023 Anand Gupta

Mumbai: Canadian pension fund British Columbia Investments (BCI) and Dutch pension fund APG Asset Management are among the investors eyeing a stake in the infrastructure investment trust (InvIT) of Mahindra Susten Pvt. Ltd. (MSPL), the renewable energy platform of the Mahindra Group, according to people in the know. Mahindra Susten’s businesses include the conglomerate’s renewable […]

Business & Finance

GreenCell Mobility to invest 1,500 crore to double EV buses supply in India – EQ Mag

April 26, 2023 Anand Gupta

Greencell Mobility, which is backed by EverSource Capital, plans to invest Rs 1500 crore in the next year to more than treble the number of electric buses it deploys on Indian roads. GreenCell Mobility, an electric mobility as a service platform, will put an extra 1200 e-buses on the road for intra-city and inter-city travel, […]

ONGC Floats Tender For Supply And O&M Of 15 MW(AC)

Business & Finance

ONGC plans to invest Rs 1 lakh crore by 2030 to boost capacity – EQ Mag

April 26, 2023 Anand Gupta

The state-owned Oil and Natural Gas Corporation (ONGC) is planning to invest Rs 1 Lakh crore by 2030 to expand the petrochemical manufacturing capacity, as per the reports of Economic Times. It will include new facilities to produce chemicals directly from crude. In the plan of government to make India as major petrochemical hub in […]

Business & Finance

KEDA Posted Net Profit of RMB 4.251 Billion for 2022 – EQ Mag

April 26, 2023 Anand Gupta

KEDA Industrial Group, a Chinese machinery company, released its annual report for 2022 on April 14. According to the report, the company posted a realized annual revenue of RMB 11.157 billion, showing a YoY growth of 13.89%. The annual net profit attributable to the shareholders of KEDA’s listed companies came to RMB 4.251 billion, showing […]