In a news release, India’s Ministry of Heavy Industries announced that Hyundai Global Motors, Ola Electric, Reliance New Energy Solar, and Rajesh Exports had been chosen for the Production Linked Incentive for Advanced Chemistry Cell to enhance local battery cell production.
Suzuki Motor Corp. and SkyDrive, a flying car developer, have struck an agreement for electric, vertical takeoff aircraft, according to Reuters. The aircraft would be initially sold in India, where Suzuki has more than 40% of the passenger vehicle market.
Ola announced in a news release that it has invested in StoreDot, a pioneer in fast-charging batteries that can go from zero to 100 per cent in just five minutes. The StoreDot deal, Ola Electric said, is the first of numerous major investments it plans to make in advanced cell technology research, development, and manufacture.
Here’s this week’s India Roundup of big names like Hyundai Global Motors, Ola Electric and Reliance New Energy Solar
According to The Economic Times, which cited anonymous sources, Vedanta has formed nearly ten teams in states such as Telangana, Tamil Nadu, Maharashtra, Gujarat, and Himachal Pradesh to select a suitable site after unveiling an $8.4 billion investment plan to establish a chip factory.
Samsung met with India’s telecom department and showed interest in participating in the second phase of the Production Linked Incentive (PLI) for telecom equipment, according to sources familiar with the situation. According to the sources, Samsung discussed 4G expansion and 5G supply contracts with Reliance Jio and Bharti Airtel, as well as the prospect of exporting 4G and 5G equipment from India.
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