Ola and Uber are locked in an intense battle for leadership in the Indian market and have pumped in millions of dollars in driver incentives and discounted rides for customers.
For the EESL order, Mahindra is looking at various cost reduction measures in order to be price competitive to supply electric cars.
India is looking at having an all-electric car fleet by 2030 with an express objective of lowering the fuel import bill and the running cost of vehicles.
Tata Motors' EV strategy is a latent need for a range of electric vehicle mobility solutions and the company will partner with local start-ups or enterprises.
India is required to set up large lithium-ion batteries (LiBs) manufacturing plants to become a global player in electric vehicles (EVs) technology market Niti Aayog member V K Saraswat has said. As the government is looking to give a major push to use of EVs, Saraswat said the main challenge would be in reducing the cost of lithium-ion battery used in such vehicles.
M&M has also earmarked an investment of Rs 600 crore over the next two-three years to expand its electric vehicle production capacity from 500 to 5,000 units a month.
As per the tender conditions, Mahindra and Mahindra can supply up to 40 per cent of the order. But they have agreed to supply 30 per cent of the order of 500 electric cars in Phase-I. Thus they would supply 150 cars and Tata Motors would supply 350 cars.
While Honda clocked 52,000 volume on the first day of the Navratra, on the final day it sold over 1 lakh units, boosting the overall Navratra sales over 50 per cent to 3.9 lakh units from 2.6 lakh units last year.
Hero had earlier reported robust sales during Onam and Ganesh Chaturthi with double digit growth over the previous year.
As per EESL, Tata Motors quoted the lowest price of Rs 10.16 lakh, exclusive of GST in the competitive bidding. These electric cars are meant for usage by ministries and government departments, either through direct purchase from EESL or lease.
The Hansalpur-based facility in Gujarat has been producing close to 10,000 units of premium hatchback Baleno a month. The model currently has a waiting period of 18-19 weeks while that of compact SUV Brezza is nearly 20 weeks.
The latest provisions bring the total sum set aside by Volkswagen to deal with fines and costs over the diesel scandal to 25.1 billion euros ($29.6 billion).
Other companies, Mahindra & Mahindra (M&M) and Nissan had also participated in the tender and bids for Tata Motors and M&M were opened.
The company acquired the plant on an asset sale basis from General Motors India and therefore, it is free to hire its own fresh workforce at the plant.
There have been discussions lately with regard to the future of Tata Nano, which was the brainchild of chairman emeritus Tata Sons, Ratan Tata.
Kia's first car will roll out end of 2019 with over 50 per cent of the components made by the supply chain vendors in Andhra Pradesh.
The company's arm Ford Smart Mobility LLC will initiate a pilot project of its smart shuttle services involving its employees in Chennai by the end of this year. It has also been in talks with authorities in Indore to provide smart infrastructure as part of mobility services.
Toyota has no plans to introduce electric vehicles in the indian market as of now and will consider it once the infrastructure for electric vehicles is in place in the country.
Fans of Formula One got a taste of real-time virtual reality of the race, without the usual 30-second delay, after the "world's first" live 360-degree technology was put to test at the Singapore Grand Prix, according to Tata Communications and Formula 1.
Union Minister Alphons Kannanthanam has defended Centre's decision of fuel price hike by saying that the extra tax was aimed at mobilizing resources for infrastructure projects and it is an intentional decision taken by the government.
