Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li><keyword id="126352" type="General" weightage="100" keywordseo="greaves-cotton" source="Orion">Greaves Cotton</keyword> unveiled its range of electric two-wheeler and three-wheeler electric vehicles at the ongoing Auto Expo 2023.</li><li>Company at the event unveiled three two-wheelers under <keyword id="1517554" type="General" weightage="80" keywordseo="ampere" source="Orion">Ampere</keyword> brand series -- Ampere Primus, Ampere <keyword id="3214445" type="General" weightage="50" keywordseo="nxg" source="Orion">NXG</keyword> and a multi-utility scooter Ampere NXU which can be also used for deliveries.</li></ul>New Delhi, Engineering company Greaves Cotton on Wednesday unveiled its range of electric two-wheeler and three-wheeler electric vehicles at the ongoing Auto Expo 2023. Company at the event unveiled three two-wheelers under Ampere brand series -- Ampere Primus, Ampere NXG and a multi-utility scooter Ampere NXU which can be also used for deliveries. In the commercial three-wheeler segment, the company unveiled an electric passenger vehicle Greaves ELP, cargo EV Greaves ELC and a futuristic cargo concept Greaves Aero Vision. Greaves Electric Mobility Private Ltd, CEO and Executive Director, <keyword id="254218" type="General" weightage="50" keywordseo="sanjay-behl" source="Orion">Sanjay Behl</keyword> said Ampere Primus will be available during the ongoing quarter, while rest of the vehicles will be made available during the course of next financial year. "Ampere Primus is now open for bookings across India. Rest of the vehicles will be launched in the next financial year," Behl said. Greaves Cotton Executive Vice Chairman <keyword id="1624060" type="General" weightage="50" keywordseo="nagesh-basavanhalli" source="Orion">Nagesh Basavanhalli</keyword> at the event shared the company's commitment to invest Rs 1,500 crore in the deployment of indigenous electric vehicle ecosystem in the country since its entry into the e-mobility business. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/mercedes-honda-bmw-and-others-showcase-some-exciting-car-tech-at-the-ces-2023-these-are-our-favorites/articleshow/96851293.cms">Mercedes, Honda, BMW and others showcase some exciting car tech at the CES 2023 — these are our favorites</a> <a href="https://www.businessinsider.in/tech/news/for-the-first-time-in-history-an-ai-bot-will-reportedly-defend-a-human-in-court/articleshow/96785418.cms">For the first time in history, an AI bot will reportedly defend a human in court</a>

Greaves Cotton unveils new two-wheeler, three-wheeler EVs

<ul><li>Shares of <keyword id="126352" type="General" weightage="20" keywordseo="greaves-cotton" source="Orion">Greaves Cotton</keyword> have been surging continuously since the last five days after its arm Greaves Electric Mobility reported strong sales for December 2021 quarter.</li><li>Greaves Electric Mobility, electric two and three-wheeler manufacturer, sold over 10,000 units in December.</li><li>Reportedly, the subsidiary forms 24% of Greaves Cotton’s revenue as of September quarter.</li></ul>Shares of Greaves Cotton have been surging continuously since the last one week after the company subsidiary announced strong sales numbers in December 2021. The stock has gained as much as 19% on January 11 and 51% in the last five days. Its subsidiary Greaves Electric Mobility, an electric two and three-wheeler manufacturer, sold over 10,000 units in December. <a href="https://www.business-standard.com/article/markets/greaves-cotton-soars-11-hits-all-time-high-stock-up-40-so-far-in-jan-122011000280_1.html">Reportedly</a>, the subsidiary forms 24% of Greaves Cotton’s revenue as of September quarter. <div type="image" title="greaves" height="900" width="1200" msid="88841846" hostid="261"></div>Reason behind the huge rally in stocks One primary reason for the continuous rise in the stock price is investors’ newly-found love for electric vehicles (EVs). “Electric vehicles as a subject by itself are attracting a lot of new funds from global investors because there is a significant amount of appetite for that. Market may be more euphoric about the EV, which has led to the price rise, and the company may or may not succeed in the segment. But right now at least the journey is sounding fundamentally good,” Deven R Choksey, managing director at KR Choksey Investment Managers told Business Insider. Investors’ liking for the company is beyond profits as the investor interest continued despite the company booking losses in FY21. “Earnings (levels of profits) for even a company like Tesla never came through for 12-15 years, so I don’t think investors are right nor arguing for earnings. Earnings will only come when the company achieves a scale and once they achieve a scale, earnings are bound to be there,” added Choksey. Besides, the core business of Greaves Cotton that is to manufacture engines and heavy equipment is also well positioned to do well. “Greaves Cotton’s core engine business, which is a capital goods business, is well positioned and in an upward cycle. Besides, there is a tremendous buying interest for green renewable energy and electric vehicles especially with respect to two wheelers, which is leading to a rally in the stock,” said Kranthi Bathini, director of equity strategy at WealthMills Securities, told Business Insider. The company’s operations were severely hit in FY21 due to lockdowns led by the pandemic. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Greaves Cotton </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Profit/loss </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,508 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-₹18.78 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,931 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹127 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY19 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,057 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹162 crore </td></tr></tbody></table> Demand for electric vehicles is only going up With changing environmental conditions and the Indian government's push toward electric vehicles, the demand for EV has remained robust. “Electric scooters have seen a dramatic increase in demand due to their broader demographic appeal and ease of handling. With changing consumer behaviour, enhanced environmental consciousness, rising petrol prices, rapid urbanisation and significant COVID protocols; we are seeing more people switching to sustainable personal mobility options,” said the company in a press release. Expansion of subsidiary Greaves electric mobility The company has acquired 100% stake in electric 3-wheeler company ELE (e-rickshaws). It also acquired a 26% stake in another electric 3-wheeler company MLR Auto (Teja brand). Along with it, the company also recently launched a new EV factory in Tamil Nadu’s Ranipet district, which is said to be one of the biggest EV factories in the country. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/due-date-for-filing-income-tax-returns-extended-to-march-15-2022/articleshow/88836918.cms">Due date for filing income tax returns extended to March 15, 2022 for individuals whose accounts are to be audited</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/hindalco-is-a-better-bet-than-tata-steel-because-electric-vehicles-need-aluminium/articleshow/88827641.cms">The rise of electric vehicles makes aluminium more attractive than steel</a>

This stock has gained 51% in the last five days on investors’ new-found love for electric vehicles

A corpus of Rs 1 lakh crore will be established with 50-year interest free loans to encourage the private sector to scale up research and innovation in sunrise domains, Union Finance Minister <keyword id="19916618" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="keywords">Nirmala Sitharaman</keyword> announced on Thursday. Presenting the interim Budget 2024-25, Sitharaman said this will be a golden era for India's tech savvy youth. "A corpus of Rs 1 lakh crore will be established with 50-year interest free loan. The corpus will provide long-term financing or refinancing with long tenures and low or nil interest rates," the minister said. "This will encourage the private sector to scale up research and innovation significantly in sunrise domains. We need to have programmes that combine the powers of our youth and technology," she added. EV stocks rally Shares of companies related to the electric vehicle segment jumped on Thursday after the announcement that the government will expand the electric vehicle ecosystem to support charging infra, and e-buses for public transport networks will be encouraged. The stock of Olectra Greentech jumped 6.21% to reach its 52-week high of Rs 1,849.25 on the BSE. JBM Auto climbed 4.96% to hit its one-year peak of Rs 2,010.80. Greaves Cotton went up by 3% to the day's high of Rs 168.55. The government will expand the electric vehicle ecosystem to support charging infra, and e-buses for public transport networks will be encouraged, Finance Minister Nirmala Sitharaman said on Thursday. Sitharaman, in her pre-election Budget, which is technically a vote on account and popularly termed an interim Budget, also said the blending of compressed biogas into compressed natural gas for transport and piped natural gas will be mandatory. Biomanufacturing and bio foundry scheme will be launched to provide environment-friendly alternatives for bio-degradable production, she added.

Corpus of Rs 1 lk cr to scale up research in sunrise domains: FM Sitharaman

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Hello! You could win a prize worth up to $480,000 during the Super Bowl. (I'm not talking about that 10-leg same-game parlay you're banking on.) DoorDash is giving someone <a target="_blank" href="https://www.businessinsider.com/doordash-super-bowl-ads-every-item-sweepstakes-2024-1">everything being advertised during this year's Super Bowl</a>.In today's big story, we're looking at the <a target="_blank" href="https://www.businessinsider.com/lawmakers-grill-tech-ceos-on-online-safety-2024-1">grilling tech CEOs</a> got during a contentious Senate hearing, <a target="_blank" href="https://www.businessinsider.com/linda-yaccarino-x-twitter-senate-hearing-csam-social-media-2024-1">with one notable exception</a>.What's on deck:<ul><li>Markets: The Fed <a target="_blank" href="https://www.businessinsider.com/did-federal-reserve-cut-interest-rates-continue-pause-inflation-recession-2024-1">paused interest-rate hikes again</a>.</li><li>Tech: Google cofounder Larry Page <a target="_blank" href="https://www.businessinsider.com/larry-page-bought-puerto-rico-island-cayo-norte-2024-1">spent $32 million on a private Puerto Rican island</a> in 2018.</li><li>Business: Investors aren't buying <a target="_blank" href="https://www.businessinsider.com/byron-allen-media-group-buy-paramount-offer-why-streaming-tv-2024-1">Byron Allen's $14.3 billion bid for Paramount</a>.</li></ul>But first, we're headed to Washington.If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today">sign up here.</a><h2>The big story</h2><h3>Tech on trial</h3><div type="image" title="Photo of Big Tech leaders in the Senate" height="450" width="600" msid="107332949" hostid="261" sizebytes="31156"></div>Tech CEOs testified in a Senate hearing that turned into the type of fiery debates found on their social-media platforms.Executives for Meta, TikTok, X, Snapchat, and Discord were grilled by US lawmakers during a contentious Senate hearing on online child sexual exploitation.The hearing focused on what platforms are doing to keep young users safe and <a target="_blank" href="https://www.businessinsider.com/lawmakers-grill-tech-ceos-on-online-safety-2024-1">included tense exchanges</a>, Business Insider's Aaron Mok and Camilo Fonseca write.<a target="_blank" href="https://www.businessinsider.com/mark-zuckerberg-meta-faced-families-online-child-safety-senate-hearing-2024-1">The most shocking moment involved Meta CEO Mark Zuckerberg</a>, BI's Lauren Steussy reports. GOP Sen. Josh Hawley asked Zuckerberg to apologize to families in attendance whose children were harmed or died from the impacts of social media."No one should have to go through the things that your families have suffered, and this is why we invested so much," Zuckerberg said as he stood and addressed the families.Instagram, which is owned by Meta, came under fire last year over allegations it knowingly has <a target="_blank" href="https://www.businessinsider.com/news-today-november-28-instagram-advertising-ai-adtech-2023-11">millions of users under the age of 13 on its platform</a>.Meanwhile, TikTok CEO Shou Zi Chew, who is Singaporean, <a target="_blank" href="https://www.businessinsider.com/singaporean-tiktok-ceo-shou-zi-chew-repeatedly-asked-chinese-2024-1">grew agitated when he was repeatedly questioned</a> by Republican Sen. Tom Cotton about his citizenship and whether he has ties to the Chinese Communist Party.<div type="image" title="X CEO Linda Yaccarino" height="683" width="1024" msid="107332951" hostid="261" sizebytes="34370"></div>One CEO was able to avoid a majority of the fireworks: Linda Yaccarino.While Zuckerberg and Chew dealt with an onslaught of questions and accusations, X's Yaccarino <a target="_blank" href="https://www.businessinsider.com/linda-yaccarino-x-twitter-senate-hearing-csam-social-media-2024-1">left the hearing relatively unscathed</a>, BI's Katie Notopoulos writes.Yaccarino even touted that less than 1% of X users in the US are under 18. It's the type of statistic most social-media companies would be embarrassed by, <a target="_blank" href="https://www.businessinsider.com/linda-yaccarino-x-twitter-senate-hearing-csam-social-media-2024-1">Katie pointed out</a>, as young people are valuable to advertisers. (It's also a bit misleading, Katie added, as a <a target="_blank" href="https://www.pewresearch.org/internet/2023/12/11/teens-social-media-and-technology-2023/pi_2023-12-11_teens-and-social-media_0-01/">2023 Pew survey</a> found 20% of 13- to 17-year-olds use X.)But beyond trying to generate video clips they can tout to their constituents, lawmakers sought support from tech executives for various child-safety bills.Two of those — the "EARN IT Act" and the "STOP CSAM Act" — would enable tech companies to be sued for content on their platforms."There's no commission to go to that can punish you, there's not one law in the book [on online child safety] because you oppose everything we do, and you can't be sued," Sen. Lindsey Graham, told the CEOs. "That has to stop."We've seen Congress take a hard stance on Big Tech before, only to fall short of delivering actual results.But this time — whether because of bipartisan support or the fact real legislation is in the works — things feel different. <a target="_blank" href="https://www.businessinsider.com/facebook-mark-zuckerberg-senate-hearing-child-exploitation-social-media-law-2024-1">The result could be we actually see some changes</a>, Katie writes.<h2>3 things in markets</h2><div type="image" title="Fed Chair Jerome Powell" height="666" width="1024" msid="107332953" hostid="261" sizebytes="28248"></div><ol><li>No rate cuts from the Fed just yet. The Federal Reserve announced another pause in interest-rate hikes on Wednesday. Chair Jerome Powell <a target="_blank" href="https://www.businessinsider.com/did-federal-reserve-cut-interest-rates-continue-pause-inflation-recession-2024-1">dismissed hopes that a rate cut might come by March</a>, but some are still hopeful.</li><li>JPMorgan's dark horse CEO candidate. Troy Rohrbaugh, JPMorgan's <a target="_blank" href="https://www.businessinsider.com/jpmorgan-leadership-jamie-dimon-succession-2024-1">new co-CEO of commercial and investment banking</a>, has kept a fairly low profile at the bank for nearly 20 years. But his success in turning the bank's foreign-exchange business around and his experience managing risk <a target="_blank" href="https://www.businessinsider.com/troy-rohrbaugh-jpmorgan-jamie-dimon-succession-2024-1">make him a CEO option when Jamie Dimon retires</a>.</li><li>Commercial real estate is a sinking ship, and lenders want off. A community bank's decision to sell a $401 million portfolio of loans at a 7% discount <a target="_blank" href="https://www.businessinsider.com/banks-commercial-real-estate-loan-sales-debt-interest-rates-2024-1">shows how dire the market is getting</a>. And with $2.1 trillion of debt connected to commercial real estate coming due between now and the end of 2025, it's likely going to ramp up.</li></ol><h2>3 things in tech</h2><div type="image" title="Illustration depicting Larry Page" height="300" width="600" msid="107332956" hostid="261" sizebytes="12656"></div><ol><li>Google cofounder Larry Page bought a Puerto Rican island for $32 million. Records show that <a target="_blank" href="https://www.businessinsider.com/larry-page-bought-puerto-rico-island-cayo-norte-2024-1">Page purchased Cayo Norte</a>, an island east of Puerto Rico, in 2018. He used an LLC that BI previously identified as his — making it <a target="_blank" href="https://www.businessinsider.com/larry-page-sergey-brin-post-google-investments-businesses-wealth-2022-12">the fifth island we know belongs to Page</a>.</li><li>Elon Musk is fighting with Delaware. After a state judge blocked his $55 billion pay deal, Musk <a target="_blank" href="https://www.businessinsider.com/elon-musk-tesla-leave-delaware-judge-blocks-pay-deal-2024-1">questioned whether Tesla should change its state of incorporation</a> to Texas. His <a target="_blank" href="https://www.businessinsider.com/elon-musk-delaware-battle-goes-beyond-55-billion-pay-package-2024-1">gripe with Delaware is about more</a> than just his massive compensation package — it's about his ambitions for Tesla and SpaceX, too. Meanwhile, Neuralink executive Shivon Zilis, who shares twins with Musk, defended his <a target="_blank" href="https://www.businessinsider.com/neuralink-shivon-zilis-defends-elon-musk-55-billion-pay-package-2024-1">Tesla pay package</a>.</li><li>The White House's AI advisor said "legislative discussions" about the tech are coming. Ben Buchanan told BI the White House wants creators of copyrighted content "appropriately compensated" when it comes to AI. <a target="_blank" href="https://www.businessinsider.com/white-house-ai-copyright-debate-2024-1">Check out our full Q&amp;A with Buchanan</a>.</li></ol><h2>3 things in business</h2><div type="image" title="Paramount water tower and Byron Allen" height="3000" width="3000" msid="107332958" hostid="261" sizebytes="279282"></div><ol><li>Media entrepreneur Byron Allen wants to buy Paramount for $14.3 billion. Wall Street doesn't think that's going to happen. Investors don't think it's worth any more than $10 billion. <a target="_blank" href="https://www.businessinsider.com/byron-allen-media-group-buy-paramount-offer-why-streaming-tv-2024-1">So why does Allen think it is</a>?</li><li>The US economy is tops among rich countries. Outlooks for other G7 nations show <a target="_blank" href="https://www.businessinsider.com/economy-us-gdp-inflation-federal-reserve-economic-growth-canada-germany-2024-1">slower growth and higher inflation</a> than the US. It's also far outperforming the world's second-largest economy, China, <a target="_blank" href="https://www.businessinsider.com/china-economy-us-trade-markets-investors-policy-beijing-finance-outlook-2024-1">which is facing several economic headwinds</a>.</li><li>Ken Griffin sounds off on China. The hedge fund billionaire said any issues cropping up in Taiwan would be "catastrophic" for the <a target="_blank" href="https://www.businessinsider.com/ken-griffin-chinese-invasion-taiwan-could-spark-new-great-depression-2024-1">Chinese and American economies</a>. He was also bummed to see <a target="_blank" href="https://www.businessinsider.com/ken-griffin-on-chinas-byd-ev-outperforming-elon-musks-tesla-2024-1">Chinese EV maker BYD overtake Tesla</a>.</li></ol><h2>In other news</h2><ul><li><a target="_blank" href="https://www.businessinsider.com/enhanced-child-tax-credit-parents-passes-house-business-tax-relief-2024-1">The House passes a bill to give parents a boosted child tax credit and businesses tax relief</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/elon-musk-start-shifting-tesla-state-incorporation-to-texas-2024-2">Elon Musk says the people have spoken, and he'll make moves to shift Tesla to be incorporated in Texas</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/alaska-boeing-737-max-9-door-blowout-company-response-earnings-2024-1">We now have more details on what happened with the Alaska Airlines door plug — and how Boeing plans to address quality issues</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/flexport-lays-off-15-of-workers-2024-1">Flexport has laid off 15% of its workers.</a></li><li><a target="_blank" rel="noopener noreferrer" href="https://www.businessinsider.com/how-tiktok-music-influence-is-put-to-the-test-in-umg-fight-2024-1">Inside TikTok's fight against the most powerful music label in the industry and what could happen next.</a></li><li><a target="_blank" rel="noopener noreferrer" href="https://www.businessinsider.com/yumi-organic-baby-food-startup-valuation-down-2024-1">Exclusive: Organic baby food startup Yumi has slashed its valuation after running low on cash</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/jeep-first-ev-electric-wagoneer-s-photos-2024-1">Jeep revealed its first EV: See inside the sleek, electric Wagoneer S</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/walmart-new-stores-expansion-2024-1">Get ready for a lot more Walmarts</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/roku-poaches-publicis-exec-jay-askinasi-ad-sales-2024-1">Roku is set to announce Publicis exec Jay Askinasi as its next ad-sales boss</a>.</li></ul><h2>What's happening today</h2><ul><li>Today's earnings: Meta, Apple, Amazon, and <a target="_blank" href="https://markets.businessinsider.com/earnings-calendar">other companies are reporting today</a>.</li><li>Today marks the start of Black History Month.</li></ul>The Insider Today team: <a target="_blank" href="https://www.businessinsider.com/author/dan-defrancesco">Dan DeFrancesco</a>, deputy editor and anchor, in New York. <a target="_blank" href="https://www.businessinsider.com/author/hallam-bullock">Hallam Bullock</a>, editor, in London. <a target="_blank" href="https://www.businessinsider.com/author/jordan-parker-erb">Jordan Parker Erb</a>, editor, in New York.

A Senate hearing with top tech CEOs about online child safety had plenty of fireworks 

Mumbai, Jul 6 () Ampere Vehicles, the electric arm of Greaves Cotton, on Monday announced the acquisition of Noida-based e-rickshaw firm Bestway Agencies (BAPL) with a 74 per cent stake. Bestway sells e-rickshaws under the ELE brand with a strong B2C presence in the mass market passenger segment. Through this acquisition, Ampere will expand its presence in this fast disrupting segment to become an integrated last-mile e-mobility player with strong presence in both electric two- and three-wheelers, Ampere vehicles said in a release. "With the acquisition of Bestway, Ampere has now embarked on a new journey to provide clean, safe and sustainable shared mobility solutions through e-3wheeler and become a leading player in the country's EV ecosystem," said Ampere Vehicles Chairman B V R Subbu. The acquisition is subject to customary closing conditions, the company said. E-rickshaw is one of the largest and fastest-growing categories of EVs in the country, and Ampere foresees growth in this segment, it said. In addition to the business-to-customer (B2C) segment, with this acquisition, Ampere will also be able to offer a complete product portfolio to its business-to-business (B2B) customers who have requirements for e-3 wheelers as well for both people and cargo mobility, the company said. "This acquisition will further strengthen our relationship with the domestic consumer by adding last-mile mobility products and services for uninterrupted journey, enhancing productivity across E-2W and E-3W spectrum," Nagesh Basavanhalli, MD and CEO of Greaves Cotton Ltd and director of Ampere Vehicles, said. He said combining Ampere's and Bestway's expertise will help in further boosting the company's growth and strengthen market positioning as a leading e-mobility business in India. The e-3wheeler segment has seen growth acceleration in the past few years and Bestway's ELE e-rickshaw has been one of the top-three brands in this organised segment in the high-growth markets of Eastern India and Eastern UP, the release said. IAS HRS

Ampere Vehicles acquires Noida-based e-rickshaw firm Bestway Agencies with 74 pc stake

Welcome to <a href="http://newsletter.businessinsider.com/join/4np/insider-energy">Insider Energy</a>, a weekly <keyword id="6357014" type="ORGANIZATION" weightage="60" keywordseo="energy">energy</keyword> newsletter brought to you by Business Insider. Here's what you need to know:<ul style="text-align: left;"><li>Want to get <keyword id="9962321" type="UNKNOWN" weightage="60" keywordseo="insider-energy">Insider Energy</keyword> in your inbox every Friday? <a href="http://newsletter.businessinsider.com/join/4np/insider-energy">Sign up here</a>. </li><li>Do you have feedback or story tips? Reach out to me at <a href="mailto:bjones@businessinsider.com">bjones@businessinsider.com</a>. </li><li>Reminder: We're looking for a reporter/editor to help lead our coverage. <a href="https://www.linkedin.com/jobs/view/energy-reporter-editor-at-insider-inc-2011708590/">Apply here</a>. </li></ul>I've been thinking a lot about <a href="https://www.businessinsider.com/fly-mike-pence-head-vice-presidential-debate-photos-video-2020-10">that fly</a>. Speaking of surprise appearances at the VP debate Wednesday, fracking made a show — Mike Pence repeatedly said that Joe Biden and Kamala Harris want to ban the technology. Harris said they wouldn't. Fracking is a super <a href="https://www.businessinsider.com/outlook-for-private-equity-energy-investments-oil-price-collapse-2020-4">common method</a> of extracting oil and natural gas in the US, which involves some engineering magic like <a href="https://www.businessinsider.com/outlook-for-private-equity-energy-investments-oil-price-collapse-2020-4">sideways drilling</a>. The technology <a href="https://www.businessinsider.com/us-shale-oil-industry-vaporized-money-before-energy-markets-collapsed-2020-5">turned America into a fossil-fuel powerhouse</a>, starting around 2009. It also led to a surge in plastics and chemicals.As I recently learned, pretty much everything that's not made of wood or cotton is made with chemicals derived from oil and gas, known as petrochemicals. Laundry detergent, diapers, antifreeze, hand sanitizer ... these chemicals are everywhere! And Big Oil wants to keep it that way. Let's start there. <div type="image" title="global demand for petrochemicals" height="1340" width="1640" msid="78580052" hostid="261"></div><h2 style="text-align: left;"><a href="https://www.businessinsider.com/petrochemical-empire-built-by-big-oil-exxon-shell-total-2020-10">This obscure $400-billion industry might just save Big Oil</a></h2>As we've written, <keyword id="154273" type="ORGANIZATION" weightage="60" keywordseo="clean-energy">clean energy</keyword> sources like wind and hydro power will eventually dominate the global electricity mix, and EVs are set to replace gas-guzzling cars. That alone doesn't spell the end of big oil companies. Reality check: Most of the world's largest fossil-fuel producers including <keyword id="6383208" type="ORGANIZATION" weightage="60" keywordseo="exxon">Exxon</keyword> and Shell have invested in a wide range of products to stay relevant <a href="https://www.businessinsider.com/petrochemical-empire-built-by-big-oil-exxon-shell-total-2020-10">including petrochemicals</a> — which have grown into a gigantic industry. <ul style="text-align: left;"><li>The US market was worth almost $400 billion last year, according to the American Chemistry Council. </li></ul>Defined: <a href="https://www.businessinsider.com/petrochemical-empire-built-by-big-oil-exxon-shell-total-2020-10">Petrochemicals are chemicals derived from petroleum and natural gas</a>. <ul style="text-align: left;"><li>By quantity, the vast majority of chemicals out there — the stuff in disinfectants, detergents, everything in The Container Store — are, in fact, petrochemicals. </li><li>My point being: The reach of this industry, backed by Big Oil, <a href="https://www.businessinsider.com/petrochemical-empire-built-by-big-oil-exxon-shell-total-2020-10">is almost unfathomable</a>. </li></ul>A lifeline: As oil giants stare down a future with fewer gas-powered cars, <a href="https://www.businessinsider.com/petrochemical-empire-built-by-big-oil-exxon-shell-total-2020-10">they're looking to petrochemicals to stay afloat</a>. <ul style="text-align: left;"><li>By 2050, petrochemicals are projected to overtake the transportation sector as the largest driver of growth in oil demand, according to the International Energy Agency.</li><li>Top oil companies are adjusting accordingly, <a href="https://www.businessinsider.com/petrochemical-empire-built-by-big-oil-exxon-shell-total-2020-10">as we reported this week</a>. </li></ul><a href="https://www.businessinsider.com/petrochemical-empire-built-by-big-oil-exxon-shell-total-2020-10">Read our full story here.</a><div type="image" title="FILE PHOTO: Darren Woods, Chairman &amp; CEO of Exxon Mobil Corporation attends a news conference at the New York Stock Exchange (NYSE) in New York, U.S., March 1, 2017. REUTERS/Brendan McDermid" height="533" width="800" msid="78580054" hostid="261"></div><h2 style="text-align: left;"><a href="https://www.businessinsider.com/leaked-documents-exxon-cutting-jobs-roles-europe-oil-downturn-2020-10">Exxon's no good, very bad week</a> </h2>I mean, it's not like any of us had a good week. But Exxon's was particularly challenged. <ul style="text-align: left;"><li>On Monday, the company announced that it was <a href="https://www.businessinsider.com/leaked-documents-exxon-cutting-jobs-roles-europe-oil-downturn-2020-10">cutting up to 1,600 jobs across Europe</a>, as part of a global restructuring. <a href="https://www.businessinsider.com/leaked-documents-exxon-cutting-jobs-roles-europe-oil-downturn-2020-10">We got our hands on four documents that detail which divisions will shrink</a>.</li><li>Also on Monday, <a href="https://www.bloomberg.com/news/articles/2020-10-05/exxon-carbon-emissions-and-climate-leaked-plans-reveal-rising-co2-output">Bloomberg News reported</a> that Exxon had plans to ramp up its carbon emissions by 17% by 2025, as its rivals looked to cut their carbon budgets. (Exxon <a href="https://corporate.exxonmobil.com/News/Newsroom/News-releases/2020/1005_ExxonMobil-statement-regarding-inaccurate-Bloomberg-news-story">said</a> the story is inaccurate.) </li><li>On Tuesday, Exxon CEO Darren Woods <a href="https://www.businessinsider.com/exxon-ceo-letter-employees-oil-price-slump-job-cuts-2020-10">sent a letter to staff</a>, reassuring them that oil and gas would be needed for decades to come. <a href="https://www.businessinsider.com/exxon-ceo-letter-employees-oil-price-slump-job-cuts-2020-10">We obtained the letter, which also reveals some more details on how the company is trying to regain dominance after slipping.</a></li><li>Then on Wednesday, the company <a href="https://www.businessinsider.com/chevron-stock-overtakes-exxon-market-cap-most-valuable-oil-company-2020-9">lost its title as America's largest oil company</a>, as its market value fell below <keyword id="60772" type="CITY" weightage="60" keywordseo="Chevron">Chevron</keyword>'s for the first time. Earlier in the week, NextEra, a renewable-energy giant, <a href="https://www.cnn.com/2020/10/05/investing/exxon-stock-solar-wind-nextera/index.html">also overtook Exxon in market value</a>. (Exxon's market value was greater than Chevron's again Friday morning.) </li><li>On Thursday, the Church of England Pensions Board, which manages more than $3.6 billion, divested from Exxon, <a href="https://www.bloomberg.com/news/articles/2020-10-05/exxon-carbon-emissions-and-climate-leaked-plans-reveal-rising-co2-output">Bloomberg News reported</a>. </li></ul>What's going on? Exxon is trying to maintain its dividend and <a href="https://www.businessinsider.com/exxon-managers-dub-some-employees-poor-performers-cut-staff-2020-7">reputation as a stable employer</a> even as oil prices fail to gain ground. They were down about 35% this year as of Friday morning. <ul style="text-align: left;"><li>At the same time, investors are souring on companies that fail to set climate-change targets. </li><li>Exxon is considered a laggard among oil companies when it comes to climate policy. </li></ul>What next? More job cuts are likely as the restructuring carries on. The company is also doubling down on its oil resources in lower-cost regions <a href="https://www.businessinsider.com/exxon-in-guyana-government-approves-9-billion-oil-drilling-project-2020-10">including Guyana</a>. Do you have information on Exxon? You can reach me at <a href="mailto:bjones@businessinsider.com">bjones@businessinsider.com</a> or through Signal/text at +1-646-768-1657.<div type="image" title="Vivint Solar rooftop solar" height="1560" width="2080" msid="78580056" hostid="261"></div><h2 style="text-align: left;">Layoffs reach all corners of the energy industry</h2>Two new reports this week detail the toll COVID-19 has taken on energy-industry jobs. It's not great. Clean energy: Just under half a million clean-energy workers are still out of work from the pandemic, <a href="https://e2.org/reports/clean-jobs-covid-economic-crisis-september-2020/">according to BW Research</a>. <ul style="text-align: left;"><li>The industry added 12,500 jobs back last month, and is recovering at a slower rate than the rest of the economy, the group said. </li><li>California, to no surprise, has lost the largest number of positions. </li></ul>Oil and gas: The fossil fuel industry, including chemicals, laid off 107,000 workers from March through August, according to <a href="https://www2.deloitte.com/us/en/insights/industry/oil-and-gas/future-of-work-oil-and-gas-chemicals.html?id=us:2el:3pr:4di6870:5awa:6di:100520:&amp;pkid=10072807280">a new Deloitte analysis</a>. <ul style="text-align: left;"><li>Bleaker still, as many as 70% of those jobs may not return by the end of 2021 in a business-as-usual scenario, the firm said. </li><li>"Such large-scale layoffs, coupled with the heightening cyclicality in employment, are challenging the industry's reputation as a reliable employer," the report said. </li></ul>In other news: Chevron is <a href="https://www.businessinsider.com/oil-giant-chevron-restructures-global-operations-cuts-jobs-2020-10">demanding its workers reapply for jobs</a> as part of a global restructuring that's set to reduce its workforce by up to 15%. <div type="image" title="Chevron gas station" height="2066" width="2756" msid="78580061" hostid="261"></div><h2 style="text-align: left;"><a href="https://www.businessinsider.com/morgan-stanley-likely-mega-mergers-deals-in-the-oil-stocks-industry-2020-10">Will there be more mega-mergers? These top analysts think so — and list the most likely ones.</a></h2>Chevron bought Noble Energy <a href="https://www.businessinsider.com/chevron-noble-energy-deal-merger-layoffs-job-cuts-2020-7">in a deal worth $5 billion</a>. Devon Energy <a href="https://www.houstonchronicle.com/business/energy/article/Devon-Energy-to-acquire-WPX-Energy-for-2-56B-15602555.php">has agreed to acquire</a> WPX Energy. Meanwhile, <a href="https://www.businessinsider.com/inside-sunrun-and-vivint-solar-historic-deal-2020-8">Sunrun took over Vivint Solar</a>, a deal that closed this week. Who's next? Morgan Stanley has some ideas. In a report Wednesday, <a href="https://www.businessinsider.com/morgan-stanley-likely-mega-mergers-deals-in-the-oil-stocks-industry-2020-10">the bank laid out 11 potential mega-mergers in the US energy industry</a> (specific to oil and gas) that involve heavyweights like Exxon and Chevron. <ul style="text-align: left;"><li>The energy industry is entering a new phase focused on returns, which is likely to bring a wave of consolidation, the bank said.</li><li>The bank said the majors could use M&amp;A to build out their renewable-energy divisions. </li><li><a href="https://www.businessinsider.com/morgan-stanley-likely-mega-mergers-deals-in-the-oil-stocks-industry-2020-10">You can see their list of "hypothetical" deals here</a>. </li></ul><div type="image" title="FILE PHOTO: A sign of JP Morgan Chase Bank is seen in front of their headquarters tower in Manhattan, New York, U.S., November 13, 2017. REUTERS/Amr Alfiky" height="533" width="710" msid="78580064" hostid="261"></div><h2 style="text-align: left;">5 big stories we didn't cover this week</h2><ul style="text-align: left;"><li>JPMorgan, the nation's largest bank, <a href="https://www.jpmorganchase.com/ir/news/2020/adopts-paris-aligned-financing-commitment">said it would push clients to align with the Paris Climate Agreement</a>, which requires global net-zero emissions by 2050.</li><li>Oil prices are all over the place, so nothing's new. On Friday morning, <a href="https://markets.businessinsider.com/commodities/oil-price">Brent crude was up 6%</a> from last Friday, when it tanked in the wake of Trump's coronavirus diagnosis. </li><li>California fires hit a new and unfortunate milestone this week. The August complex fire surpassed 1 million acres and was dubbed a "gigafire," <a href="https://www.theguardian.com/us-news/2020/oct/06/california-wildfires-gigafire-first">The Guardian reports</a>. </li><li>Amazon <a href="https://blog.aboutamazon.com/transportation/introducing-amazons-first-custom-electric-delivery-vehicle">debuted</a> its all-electric delivery van, built by Rivian, a Tesla rival. </li><li>In yet another sign the hydrogen industry is booming, Hyundai <a href="https://www.reuters.com/article/us-hyundai-switzerland-hydrogen-trucks/hyundai-delivers-first-fuel-cell-trucks-to-switzerland-idUSKBN26S1DK">delivered its first fuel-cell trucks</a> this week, and global oil giant <a href="https://www.bloomberg.com/news/articles/2020-10-09/total-adds-fuel-cell-truck-maker-to-alternative-energy-bets">Total said it was betting on fuel-cell startup Hyzon Motors</a>. </li></ul>That's it! Have a great weekend. - Benji Ps. I planted basil in a wine bottle, merging my top interests. <div type="image" title="Benji Jones basil wine bottl" height="2268" width="3023" msid="78580067" hostid="261"></div>

You Searched For "greaves cotton EV business" and got 7 results

Greaves Cotton unveils new two-wheeler, three-wheeler EVs

PTI

This stock has gained 51% in the last five days on investors’ new-found love for electric vehicles

Bhakti Makwana

Corpus of Rs 1 lk cr to scale up research in sunrise domains: FM Sitharaman

PTI

A Senate hearing with top tech CEOs about online child safety had plenty of fireworks

Dan DeFrancesco

Ampere Vehicles acquires Noida-based e-rickshaw firm Bestway Agencies with 74 pc stake

PTI

Exxon's no good, very bad week

Benji Jones

How to dress like a local in 25 cities around the world

Talia Avakian

Popular Keywords

Buying Guides