Taiwan-based Foxconn delegation visited India to discuss investment plans, and Ola decided to focus more on its emerging EV business.
Foxconn delegation visits India, reportedly looks at manufacturing EVs in India
A Foxconn delegation, led by chairman Young Liu, visited India and met India's prime minister Narendra Modi, who hailed Foxconn's investment plans, according to Press Information Bureau of India. Furthermore, The Economic Times, citing sources, reported that Foxtron, an EV venture of Foxconn, is looking for EV manufacturing locations beyond China and may consider producing EVs in India. Sources also said that the Tamil Nadu government is looking to woo Foxtron to invest there.
Ola closes used car and quick commerce division, prioritizes EV business
According to The Economic Times, Ola confirmed that they had shut down Ola Cars and Ola Dash, Ola's used car and quick commerce businesses, respectively. Ola said they made reassessments and decided to prioritize their electric car business.
Reliance looking for new green-hydrogen technologies
According to The Economic Times, Kapil Maheshwari, president for new energy at Reliance Industries, said that the company is assessing new technologies for making electrolyzers and plans to bid for incentive schemes launched by the Indian government in a bid to produce green hydrogen at a cost as low as US$1 per kilogram by 2030.
Sun Mobility joins Amazon to launch battery-swapping network in Maharashtra
According to PR Newswire, Sun Mobility, an India-based swappable EV battery services provider, announced a co-work with Amazon India to deploy over 2,000 battery swapping points across Maharashtra by 2025, the third partnership Sun Mobility has established in the past two months.
India fines Reliance for not timely disclosing Meta deal
The Wire reported that the Securities and Exchange Board of India on June 20 fined Reliance Industries for not promptly disclosing the US$5.7 billion investment by Facebook in Jio Platforms, Reliance Industries' subsidiary.