HSBC India Partners With Tata Motors To Promote Mass Adoption Of Electric Vehicles
HSBC India announced that it has partnered with Tata Motors, India’s leading automobile manufacturer and the pioneer of the EV revolution in the country, for a corporate employee financing solution to accelerate the adoption of zero-emission Electric Vehicles. This partnership is in line with the shared vision of the two conscientious organizations to promote sustainability and de-carbonize road transport, paving the way for a greener and cleaner future. Consumers holding a salaried account with HSBC India will get a chance to apply for this one-of-a-kind tailor-made loan to purchase an electric vehicle of their choice from Tata Motors’ EV portfolio.
MOVIN Introduces Electric Vehicles In Delhi NCR For Its First And Last-Mile Deliveries
MOVIN, a logistics brand launched as a joint venture between UPS and InterGlobe Enterprises adds Electric Vehicles (EVs) to its fleet for first and last-mile deliveries. With the objective to reduce carbon emissions, aligning with its long-term sustainability goals, the deployment of the EVs begins with Delhi-NCR and will subsequently be covering Mumbai, Chennai, Bangalore, Kolkata and Pune by the end of 2023. The EVs were flagged off by JB Singh, Director MOVIN Express and Gregory Goba-Ble, Vice President for UPS in the Indian subcontinent, Middle East and Africa and Director for MOVIN Express from the Bilaspur Hub in Gurugram.
River Raises $15 Million In Funding Round Led By Al Futtaim Group
Electric vehicle company River has secured $15 million in a recent funding round led by Al Futtaim Group, a conglomerate based in Dubai. Existing investors Lowercarbon Capital, Toyota Ventures, Maniv Mobility, and Trucks VC also participated in the funding round. The funds raised will primarily be used for working capital needs, including the establishment of distribution centres, local sourcing and manufacturing of EV parts, and research and development. River aims to utilize the funding to support its growth and prepare its manufacturing and distribution networks for the planned August 2023 delivery. River’s CEO, Aravind Mani, mentioned that the subsidy reductions have prompted a price increase, which will encourage more domestic manufacturing within India.
Godawari Electric Motors Receives Homologation Certificate For Eblu Feo Electric Scooter
Godawari Electric Motors, manufacturer of the Eblu range of products, today announced that it has received the homologation certificate for its L1 e-scooter Eblu Feo. This scooter is fitted with a 60Volt 42Ah lithium-ion battery which has been approved for the highest global standards for batteries (AIS) 156 phase 2. Mandated by the Ministry of Road Transport and Highways, the Phase 2 amendments to AIS-156 are the latest standards that dictate the highest safety and performance for electric vehicles on Indian roads. Eblu Feo, a complete electric scooter built to cater to family needs, is Godawari Electric Motors’ new and upcoming addition to its Eblu range.
Greaves Electric Mobility Private Limited Joins Forces with Bike Bazaar Finance to Offer Versatile Financing Solutions for Electric Three-Wheelers
Greaves Electric Mobility Private Limited (GEMPL), a division of Greaves Cotton Limited focused on e-mobility, has partnered with Bike Bazaar Finance, an RBI-registered non-banking finance company specializing in retail financing for new and pre-owned vehicles. The collaboration aims to provide flexible financing options for GEMPL’s ELE-branded L3 electric vehicles. Initially, the financing services will be available in Uttar Pradesh and Bihar, with plans for expansion across the nation in the future. This strategic alliance marks Bike Bazaar Finance’s first partnership with an electric three-wheeler company.
SIDBI Collaborates With Niti Aayog, World Bank, And Korean Partners For Electric Vehicle Financing
SIDBI has established partnerships with Niti Aayog, the World Bank, the Korea-World Bank Partnership Facility, and the Korean Economic Development Cooperation Fund to facilitate the financing of electric vehicles (EVs) for small and medium-sized industrial units. The financing will be implemented through a new initiative called “Evolve,” which aims to create a dynamic ecosystem for EV operations and lending. Through this project, SIDBI will provide accessible and affordable commercial financing options for EVs, as announced in a statement by the national bank. While Niti Aayog will offer technical support to SIDBI, financial assistance will be provided by the World Bank, the Korea-World Bank Partnership Facility, and the Korean Economic Development Cooperation Fund, according to SIDBI.
Volvo Car India Unveils Its Electric SUV ‘C40 Recharge’
Volvo Car India has revealed its latest electric SUV, the C40 Recharge, adding to its lineup of electric vehicles. The C40 Recharge offers a range of up to 530 km per charge and features a sleek and stylish crossover design. Notably, it boasts a 100% leather-free interior, showcasing Volvo’s commitment to sustainability. Built on the CMA platform, the introduction of the C40 Recharge aligns with Volvo’s goal of having a 100% electrified vehicle portfolio by 2030. The car combines sustainability, style, and cutting-edge technology, aiming to cater to Indian consumers.
