Ola Electric shares fell 6.5 per cent after Goldman Sachs downgraded the stock to sell and cut its target price to Rs 23. Concerns over cash flow, funding needs, rising costs, declining revenue and market share weighed on investor sentiment
India’s electric vehicle market saw strong growth in May as rising fuel prices encouraged consumers to switch to EVs. Electric car and two-wheeler sales gained market share, with manufacturers benefiting from increased demand, supportive policies, and growing consumer acceptance
Elon Musk’s Tesla is set to open its first Indian showroom in Mumbai on July 15, while Starlink prepares for its India launch. Tesla plans to sell electric vehicles without local manufacturing, leasing multiple properties for sales and service operations
Hyundai Motor will halt operations of Line 12 at its Ulsan Plant 1 in South Korea from Feb 24 to 28 to adjust production volumes amid sluggish domestic sales and declining orders
Punch.ev will be the first product based on this Pure Electric Architecture – acti.ev, which will spawn a variety of products with multiple body styles and sizes.
