Electric Mobility News

Senior sources at German auto giant Volkswagen on Wednesday dismissed reports that up to 30,000 jobs could be at risk if it could not cut costs in its transition to electric models.

Volkswagen's CEO Herbert Diess told a supervisory board meeting in September that the company could lose 30,000 jobs if it transitioned too slowly to electric vehicles (EVs), two sources with knowledge of the matter told Reuters on Wednesday.

Earth Energy EV is also planning expanding its distributor network in a phased manner in the next five years.

Tesla claims this is a world first and said the test was a success based on the crash test with dummies.

Greaves Finance was set up last month to facilitate financing of electric two-wheelers and electric three-wheelers.

Shares of India's Tata Motors rose nearly 20% on Wednesday, a day after the Jaguar and Land Rover owner raised funds from private equity firm TPG and said it would invest over $2 billion in its electric vehicle (EV) business over the next five years.

Tata Motors will invest over $2 billion in its electric vehicle (EV) business over the next five years, a company executive said on Tuesday, after the Indian automaker announced it had raised funds from private equity firm TPG.

Tata had entered into a binding agreement with TPG Rise Climate, under which the latter along with its co-investor ADQ, will invest $1 billion or Rs. 7,500 crore, in Tata Motors' new electric vehicle (EV) business unit.