With an EV market share of 90 per cent in the east, the signing of this MoU makes for the biggest ever EV fleet order in the region.
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Recent announcement that group CEO Herbert Diess would be replaced by Porsche boss Blume has rekindled investor concerns about corporate governance problems at Europe's top carmaker, which some shareholders have said weigh on the stock's performance.
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According to industry forecasts, aluminium consumption in transportation sector is expected to grow by 12 million tonnes from CY20 to CY30, 60 per cent of which will come from adoption of EVs. World over, there are about 3,000 applications of aluminium across various industries, whereas India has explored 300.
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These 300 e-buses will be supplied on a Gross Cost Contract (GCC)/OPEX model basis for 12 years.
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A transition to a greener steel plant is the intention that we have But this is only possible with financial help from the government, said Natarajan Chandrasekaran, Tata Sons Chairman
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The model will now have a starting ex-showroom price of ₹8.41 lakh (ex-showroom, Delhi)
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The first eEconic trucks will be sold to a Danish waste disposal firm, with further deliveries planned this year, Daimler Truck said.
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Oliver Blume, CEO of VW brand Porsche, will succeed Diess.
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India could electrify all two-wheelers currently on the roads and complete the electrification of public buses in five to seven years, CESL Managing Director Mahua Acharya said. Earlier this year CESL awarded a contract for 5,450 electric buses on behalf of five state governments.
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The carmaker was also boosted by the easing of a global chip shortage, which helped it resume overtime and weekend shifts at domestic plants. It now plans to step up vehicle production in the second half to meet consumer demand.
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