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This Is Why High-End Electric Cars Are Failing
Wired
·
1m ago
Medial
High-end electric vehicles are struggling due to high prices and performance limitations compared to internal combustion engine (ICE) counterparts. Legacy automakers like Mercedes and Porsche face low sales for their premium EVs, as consumers prefer cheaper ICE models. The market demands affordable, mass-market EVs, a challenge that Chinese manufacturers are addressing. A shift away from luxury-focused models to affordable, accessible electric vehicles could drive wider EV adoption and improve the charging infrastructure, reminiscent of the Model T's impact.
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Tata Motors’ EV Push: Plans To Unveil Multiple Electric Cars Under Avinya Brand
Inc42
·
1y ago
Medial
Tata Motors will introduce a lineup of electric cars, SUVs, and MPVs under the Avinya brand. The first models are scheduled for release in 2025 and will be positioned as high-end vehicles in terms of pricing. This move aligns with Tata Group's focus on expanding its presence in the electric vehicle market, driven by growing demand from the Indian middle class and supportive government policies.
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Why does EV design feel so smart now?
Inshorts
·
2m ago
Medial
Electric vehicles are no longer just about battery life they’re about user experience. From touchscreen dashboards to voice-controlled features, automakers are rethinking how drivers interact with vehicles. Smooth, intuitive UI/UX not only boosts safety but also turns cars into smart, enjoyable spaces people want to be in.
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India-UK deal shields mass market segment, a boost for luxury cars
Economic Times
·
15d ago
Medial
India and the UK signed a free trade deal reducing duties on high-end cars but maintaining protection for mass-market vehicles, benefiting Indian manufacturers. The deal slashes customs duties to 10% on a quota of luxury vehicles over five years, aiding brands like Rolls-Royce and Aston Martin. However, duty concessions for electric, hybrid, or hydrogen-powered vehicles are delayed for five years. Indian manufacturers, active in the under £40,000 segment, benefit from exclusion.
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Why Elon Musk’s robotaxi dreams are premature
Livemint
·
9m ago
Medial
Elon Musk's plan for Tesla's robot cars relies on end-to-end artificial intelligence (AI) where algorithms learn to drive safely by analyzing video footage from existing Teslas. However, this approach contrasts with competitors like Waymo, which break down the problem of self-driving into more distinct tasks with greater input from human engineers. While Musk's vision relies on AI technology reaching a higher level of sophistication, AI developers argue that it is still far from achieving that. Musk's optimism and vague promises have also raised skepticism about the feasibility of his plans.
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Video shows Aston Martin, Lamborghini, Porsche at Zomato office in Gurugram
Inshorts
·
10m ago
Medial
A video showing luxury cars in Zomato's Gurugram office parking has gone viral on social media. The ₹4.5-crore Aston Martin DB12, owned by Zomato CEO Deepinder Goyal, and other high-end luxury cars such as Porsche, Lamborghini, Ferrari, and Mercedes can be seen in the video. Notably, shares of Zomato, which made market debut in 2021, have rallied 123% this year.
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Why Ola Electric's sales numbers do not hold up
CNBC
·
4m ago
Medial
Ola Electric faced scrutiny for discrepancies between reported sales figures and government vehicle registrations, with only 8,600 registered compared to the claimed 25,000 sales in February. The company attributed this to a temporary registration backlog. Despite plans to resolve the issue by March's end, Ola Electric is losing market share to competitors like Ather Energy. The company’s stock fluctuated due to these issues and an insolvency petition against its subsidiary, reflecting broader market challenges.
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Tesla may head to India on incentive-paved road
Economic Times
·
1y ago
Medial
US electric automaker Tesla is reportedly close to setting up operations in India, as the government plans to extend concessional import duties on electric cars for 2-3 years. Tesla is willing to invest up to $2 billion if the Indian government offers reduced import duty of 15% on imported electric cars in the first two years of operation. The move aims to accelerate local manufacturing and bring down prices of electric vehicles through localisation. However, Indian automakers are cautious about any reduction in import duty, fearing an unfair advantage for Tesla.
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Toyota lobbies India to cut hybrid-car taxes as much as 21%
Reuters
·
1y ago
Medial
Toyota is urging the Indian government to reduce taxes on hybrid vehicles by up to 20%, stating that they are less polluting than petrol cars but receive unequal policy treatment. While India taxes electric vehicles (EVs) at just 5%, the tax on hybrids can be as high as 43%. Toyota argues for a larger tax differential and requests that hybrid cars be included in the government's incentive program, which currently only applies to EVs. The carmaker plans to expand its production capacity to meet rising demand for hybrids in India.
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Why consumer firms are lagging benchmark indexes in India's sizzling stock market
VCCircle
·
1y ago
Medial
Consumer stocks in India's booming economy are underperforming benchmark stock indexes. Despite double-digit gains, consumer firms selling everyday goods are struggling due to low income growth and volatile inflation impacting demand. Meanwhile, luxury goods are selling well. Private consumption, which contributes to 60% of economic growth, is expected to grow at the slowest rate in two decades. The wealth gap is also widening in India, with the richest 1% accumulating the highest concentration of wealth in six decades. This trend suggests that the premium segment, which sells high-end products, is experiencing growth while the broader consumer sector remains weak.
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Macquarie To Fuel India’s EV Fleet Electrification With $1.5 Bn Investment
Inc42
·
1y ago
Medial
Australia's Macquarie Asset Management is set to invest $1.5 billion in India's electric vehicle (EV) space through its new platform, Vertelo. Vertelo aims to provide end-to-end solutions for fleet electrification, including leasing and financing, charging infrastructure, fleet management services, and more. The platform has already secured an anchor investment of up to $200 million from the Green Climate Fund. Over the next 10 years, Vertelo aims to reduce greenhouse gas emissions by 9.5 metric tonnes of carbon dioxide-equivalent and support India's target of achieving 40% electric buses and 70% electric commercial cars by 2030.
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