Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
The largest supplier of battery cells to Indian manufacturers of electric scooters, LG Energy Solution, is based in South Korea and intends to expand into the passenger car industry in that nation, according to the business.
LG Energy, which supplies batteries to automakers such as Tesla and Hyundai, has stated that it is "proactively seeking partnerships" with local EV makers to expand its business in one of the world's fastest-growing automotive markets.
LG Energy's India unit is the primary supplier of battery cells to domestic e-scooter manufacturers such as Softbank Group-backed Ola Electric and domestic rival TVS. Since establishing its India unit in 2023, the company has amassed over a 50% market share. It also supplies battery cells to domestic car maker Mahindra & Mahindra for its EVs.
India's EV market is small but growing. The government targets 30% of total car sales in 2030 from electric models. Authorities also want 70% of scooters to be electric over the same period. India has urged companies to build EVs and batteries locally and is offering incentives under its domestic manufacturing program.
Also Read : Jindal Stainless aims to raise volume by 20% in FY25, invest over ₹5k cr in capex AGEL begins 551 MW solar capacity at Khavda RE park in Gujarat
India's coal export to neighbouring countries was 0.78 Million Tonnes (MT) in the April-November per...
Raw Material 07-Feb-2024
India is looking to boost domestic steel production capacity threefold to 500 million tonnes per ann...
Ferrous 10-Apr-2024
ArcelorMittal to cut 600 jobs in France amid European steel crisis. Rising costs, low demand, and i...
Europe 28-Apr-2025
National Mineral Development Corporation (NMDC), India’s largest iron ore producer, unveiled i...
Mid Corporate 19-Jun-2024
According to PSP Projects it has secured a construction order amounting to ₹631 crore in Gujarat. Th...
Mid Corporate 15-Feb-2024
India’s small and mid-sized steel and aluminium exporters are urging the government to lower i...
USA 07-Mar-2025