Toyota motors have hit top gear, enjoying a smooth ride during its first quarter under the leadership of CEO Koji Sato. The Japanese vehicle manufacturer reported a staggering 75% increase in net income, reaching an impressive 9.1 billion dollars. Operating margins soared past 10%, propelling Toyota's shares to an all-time high in the market.

Toyota’s net income surges by 75%

Get ready for the electric revolution in India. In the latest, Tesla is tying India with ambitious plans to set up a cutting edge factory - the goal is to produce an all-new affordable electric vehicle priced at just $24,000.

India's EV-olution: Tesla's mega-surge into India, bold plans for $24k electric car | WORLD DNA

In a major setback, India has rejected Chinese EV maker BYD's proposal to set up a 1 billion dollar plant. The EV maker had a proposed a joint venture with a Hyderabad-based company. Earlier this month, the BYD submitted a plan to the Indian Government, seeking permission to build EVS and car batteries with Megha Engineering & Infrastructure ltd. Reports suggest that security concerns over Chinese investments could be the reason behind India's blocking the deal.

India says no to BYD's investment | World Business Watch

The Narendra Modi government has trashed Chinese automaker BYD’s proposal to set up a $1 billion manufacturing plant in India, reported Economic Times on Saturday.

India trashes Chinese EV maker BYD’s proposal to set up $1 billion plant

Days after reports said Tesla was in talks with Indian authorities for setting up an EV Factory yet another electric vehicle maker has shown interest to set up its business in the country. Reuters sources say that China's BYD has submitted a one billion dollar proposal to build EVs and batteries in partnership with a local company.

Report: BYD intends to develop range of EVs in India

China's looming export controls on gallium a critical metal for electric vehicles could spell trouble for automakers who have relied on it as a game changer in EV technology.

Gallium crisis: Automakers grapple with supply chain industry

A tectonic shift is underway in the Thai automotive industry. Chinese automakers are making their presence felt, challenging the long-standing dominance of Japanese companies. Thailand is southeast Asia's largest car producer and exporter, and its second-largest sales market after Indonesia. Japanese automakers have traditionally been dominant in the region. With a focus on electric vehicles, Chinese investments worth $1.44 billion since 2020 have created a new battleground in southeast Asia's largest automaking hub.

Chinese investments spark EV revolution in Thailand

Elon Musk, the CEO of electric car giant Tesla, announced on Thursday that the company is on the verge of achieving fully autonomous vehicles "later this year." Speaking via video link at an artificial intelligence conference in Shanghai, Musk expressed his confidence in Tesla's progress towards achieving full self-driving capabilities.

Elon Musk expects fully autonomous self-driving Tesla vehicles 'later this year'

EV maker Tesla's ambition to make its charging technology a standard across the US. Has hit a roadblock in the US State of Texas. A report accessed by Reuters shows several EV charger makers opposed to Texas' plan seeking them to include tesla's charging technology as well as the combined charging standard (CCS) technology to electrify highways in the US State. These EV charging companies have called the plan "premature".

EV charger firms oppose Texas plan for Tesla chargers

Trees are magical. They provide us with food. They produce oxygen and they're beautiful to look at. And guess what, you may soon be able to charge your electric vehicles by connecting it to a tree. Solar botanic trees, a UK based startup is designing sleek solar powered trees that work as EV-charging stations. There are two versions of the tree; 5.5 metres tall and 3.5 metres tall. The sun’s energy is collected via leaves and is stored in a battery within the tree’s trunk. The trees feature solar panels that act as the canopy. These panels absorb sunlight and transform it into electrical energy. An ai-driven energy storage and management system regulates and releases the charging power. The company recently completed a half-scale prototype of the device and is now looking to build and test a full-size version, before going into commercial production at the end of the year. Sadly, the tree has a power generation capacity of only five kilowatts, making it a rather slow charging option for EV drivers.

Solar-powered trees to charge your electric vehicles

China has announced an unprecedented tax break package of $72 billion aimed at propelling the growth of the electric vehicle (EV) industry, Reuters reported. The move comes as the country seeks to revitalize its economy and counter slower auto sales.

China's shock and bolt: $72 Billion tax breaks turbocharge Electric Vehicle market

In a bid to accelerate the growth of its electric vehicle industry, china has introduced a $72 billion package of tax breaks. These measures aim to boost the sales of electric vehicles and other green cars, revitalizing the country's economy amidst sluggish auto sales.

China’s $72 billion tax breaks to supercharge EV industry

India's Tata Group on Friday signed a strategy deal to build a lithium-ion cell factory, based on an investment of approximately 130 billion rupees ($1.58 billion), as per Reuters reports.

Tata Group signs $1.6 billion deal with Gujarat government to set up EV battery plant

In May 2023, India's retail sales of electric two-wheelers reached a new peak at 104,755 units, marking a 57 per cent increase compared to April 2023, which saw 66,724 units sold.

India's electric two-wheeler retail sales hit record high in May 2023

Over a period of 10 years (2023-32), South Korean automaker Hyundai will be investing USD 2.5 billion (INR 20,000 crore) in India. This investment is aimed at scaling up the firm's existing manufacturing operations of electric vehicles and internal combustion engine vehicles, developing an Electric Vehicle (EV) ecosystem, setting up EV charging stations and establishing an EV battery assembly unit.

Hyundai to invest $2.5bn in India, scale up production at its largest manufacturing hub outside Korea

India is reviving up its efforts to reduce emissions and ride the EV bus to a net-zero future. A government panel in India has proposed a ban on diesel 4-wheelers by the year 2027 in order to reduce emissions and achieve its 2070 net zero goal.

Mapping India’s EV landscape & progress | WION Climate Tracker

In an effort to increase demand, Elon Musk's electric car company, Tesla, has lowered prices by two to six percent for the fifth time this year. However, experts warn that this discount drive could harm company profitability pricing.

New price cuts by EV-maker Tesla to boost demand

The move toward electric vehicles in the U.S. automotive industry has brought increased attention to the sector’s reliance on Chinese technology. As VOA’s Kane Farabaugh and WION reports, a planned Ford battery plant is drawing congressional scrutiny.

WION-VOA Co-Production: Ford battery plant using Chinese tech raises alarms in congress

India’s leading manufacturer of Electric Vehicles OLA Electric has offered to provide a free upgrade to the new front fork of its S1 scooters, as per a statement by the company.

Ola Electric offers free upgrade of front fork in S1, S1 pro scooters amid controversy

US motor giant Ford plans to cut 3,800 jobs across Europe, including 1,300 in the UK and 2,300 in Germany, as it positions to switch to the production of a smaller range of electric vehicles.

Ford to cut 3,800 jobs across Europe as focus shifts toward EV  

As the electric vehicle manufacturer braces for an industry-wide pricing war, Rivian Automotive is laying off 6% of its workers in an effort to reduce expenses. The company is already dealing with declining cash reserves and a sluggish economy. According to Chief Executive R.J., the company is concentrating resources on increasing car manufacturing and achieving profitability.

Price war in electric vehicle space, EV maker Rivian to cut 6% of jobs

CEO Elon Musk has said that he won’t sell any further shares in Tesla for 18 months or more, in an attempt to pacify shareholders of the EV company who have watched the stock fall nearly half of its value since Musk’s takeover of Twitter.

Elon Musk reassures investors, tells them he will pause on Tesla stock sales for 18 to 24 months

The stocks are crashing as a sell-off continued yesterday over worries about softening demand for electric cars and CEO Musk's distraction with Twitter.

World Business Watch: Investors worry about softening EV demand, Tesla shares tumble

According to a report, electric-car maker Tesla will lay off employees in the next quarter. Reports also said Tesla is going to freeze hiring.

World Business Watch | Tesla to freeze hiring, lay off employees in next quarter: Report

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