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French President Emmanuel Macron last year announced ProLogium's 5.2 billion euro (USD 5.67 billion) investment in a battery factory in the northern region of Dunkirk, adding to an emerging specialised cluster devoted to Europe's electric car industry.
GlobalData’s latest report, “Global Sector Overview & Forecast – 4WD and AWD”, reveals that the 4WD market in APAC is estimated to reach 39.2 million units in 2023 and 44.2 million units by 2028. The AWD market in the region is projected to reach 8.8 million units in 2023 and 10.8 million units by 2028.
Reliable sources within the industry have revealed that Ola Electric has successfully met the stringent eligibility assessment requirements outlined in the PLI Scheme, including a minimum of 50% domestic value addition to its vehicles.
ClearMotion founder and chief technology officer Zack Anderson told Reuters that the company's ClearMotion1 suspension system uses a combination of hardware - a small unit containing a motor and power electronics sits in each wheel well of a vehicle - and software to read the road ahead and cut motion inside the car by "about 75% compared to the best technology in the market today".
Post the stake sale by TACL, Nippon Leakless will own 100% of the company. TACL will realize INR 81.8 crores for its entire 40% equity stake sale. (JV Company valued at INR 204.5 crores). This transaction is subject to certain conditions precedent and is expected to be completed in Q4FY24, the company said in a media release.