Author Archives: Loknath Das

Tesla to build new car factory near Berlin – up to 10.000 new jobs

Elon Musk, founder and CEO of Tesla, one of the world’s best-known producers of electric cars, has announced that the company’s new factory for the European market will be built in Germany. New Tesla factory will be near Berlin-Brandenburg airport Speaking during a ceremony at the Golden Steering Wheel awards in Berlin, Musk announced that the company’s new car and battery factory ... Read More »

Vodafone CEO Nick Read says company’s future in India looks doubtful as situation is critical

Vodafone said its future in India could be in doubt unless the government stopped hitting operators with higher taxes and charges, after a court judgment over licence fees resulted in a 1.9 billion euro group loss in its first half. Chief Executive Nick Read said India, where Vodafone formed a joint venture with Idea Cellular in 2018, had been “a ... Read More »

Here’s how Fintechs are helping used car firms to boost sales

Droom Technology, the online transactional platform for automobiles, recently acquired Delhi-based non-banking financing company, Xeraphin Finvest, for an estimated USD 3 – 3.5 million. The online auto services provider is expanding its fintech business under Droom Credit Business Unit to drive auto loan disbursals and insurance for purchase of preowned vehicles and facilitate dealer financing options. In contrast to declining ... Read More »

UAE’s Masdar invests $150 million in Hero Future Energies

New Delhi: In what will rank among the largest deals in the India’s clean energy space, United Arab Emirates’ Masdar (Abu Dhabi Future Energy Company) has acquired around 20% stake in Munjal family-promoted Hero Future Energies Pvt. Ltd for $150 million. Masdar is owned by Abu Dhabi government’s sovereign wealth fund Mubadala Investment Company. Sovereign wealth funds are preferred for their ... Read More »

Ayodhya: This should be a guide for the future

There is an anecdote narrated to me by the late Arun Jaitley that comes to mind on the day the final hurdles in the path of the construction of a grand temple to Lord Ram at his birthplace in Ayodhya have been removed. The event centres on the evening of December 6, 1992, in the central office of the Bharatiya ... Read More »

10 New Cars Under Rs 25 Lakh To Buy This Diwali

The upcoming festive season is a popular time to buy new cars, especially with carmakers launching a variety of new and facelifted models in the last few months. From entry-level models to a long-range electric vehicle, there is plenty to choose from. Here are the top 10 new cars of 2019 that can be on your Diwali shopping list: 1) ... Read More »

UK: New car market down 6.7 percent in October

Demand for new cars in the United Kingdom fell 6.7 percent last month, the automotive industry said. Some 10,348 fewer cars were registered in October than during the same month in 2018, according to the Society of Motor Manufacturers and Traders (SMMT). The figure reflects a tough environment for businesses and consumers as economic and political uncertainty continue to hit confidence, the ... Read More »

City of the Future Explores the Future of Mobility in Cities

City of the Future is a bi-weekly podcast from Sidewalk Labs that explores ideas and innovations that will transform cities. In the third episode from season 2, hosts Eric Jaffe and Vanessa Quirk discuss the future of mobility in cities and share ideas that would make it way easier to get around without owning a car. In the podcast, author Horace Dediu talks ... Read More »

Tesla’s service and used car revenue is growing, but can’t make up for a plunge in US vehicle sales

While Tesla’s overall sales dropped 39% in the U.S. during the third quarter, the company is seeing robust growth on “services and other” revenue, which includes sales of used cars. Revenue in that category jumped 68% to $548 million from $326 a year earlier, according to Tesla’s latest financial filing. Over the first nine months of 2019, it grew 91% to $1.65 ... Read More »

Truebil offers 7 day trial period for used car buyers

New Delhi: Auto-tech platform for buying and selling of pre-owned cars Truebil on Wednesday has announced a seven day trial period offer. Under the new scheme, pre-owned car buyers from Truebil’s platform will be given a 7 day trial period and if the car does not meet the buyer’s purchase criteria, the company will refund the money. The customer has to ensure that ... Read More »