Switch Mobility is looking for strategic and financial investors, the report said, quoting Ashok Leyland's chief financial officer

The startup is targeting an annual revenue growth rate of $3 billion in two years and plans to go for an IPO after it turns profitable

More than a dozen electric two-wheelers are being developed by Hero, Bajaj Auto, TVS Motor and Honda. These firms have pledged over $1 billion in total for the rollout of EVs over the next five years

India's lethargic switch to electric vehicles suggests tougher policies are needed for the country to achieve a timely and effective transition to clean energy systems

Automaker will, however, make its EV debut in India initially via imports of its green SUV Enyaq

Musk sold 3% of his shares, partly to satisfy tax obligations related to exercising stock options. Tesla shares have rebounded since he asked followers on Twitter to vote on what he should do.

Foreign firms complain about lack of transparency, insufficient lead time for new rules and less access to policy and standard drafting – but realize that China is bigger player now

The Chinese smartphone maker has changed its strategy by opening thousands of new stores to spur sales growth, and provide a channel for its plan to sell electric vehicles

Looming zero-carbon mandates in cities such as London and Paris, and countries from Norway to China, have lent urgency to pledges to shift to electric vehicles

Group faces $148m in bond payments due on Wednesday and $255m due on Dec 28. Meanwhile, its EV unit says it plans to sell new shares to fund car production.

The move comes as parent group China Evergrande has reportedly found the funds for its latest payment deadline

Australia pledges $132 million to ramp up the rollout of hydrogen refuelling and charging stations for electric vehicles. But critics say it should also offer rebates to push transition from fossil fuels