Connect with us

Latest News

Government Invites Tenders For Electric Cars and Charging Stations

Ramya GovindRaj

Published

on

Government Invites Tenders For Electric Cars,Government Invites Tenders,Charging Stations,Government Tenders,Startup Stoires,2017 Latest Business News,2017 Technology News

The Government of India in an effort to reach their goal of 100% electric vehicles by 2030, has invited tenders from electric vehicle (EV) makers for up to 10,000 EVs. These cars will reportedly be released in the National Capital Region (NCR,) within the next six to eight months.

Tata Motors, Renault, Hyundai, Nissan, Maruti Suzuki and Mahindra & Mahindra have already shown interest in collaborating with the government for this project. Along with a tender for 10,000 electric cars, the government is also looking to invite bids for close to 4000 charging stations in Delhi NCR.

State owned Energy Efficiency Services Ltd., (EESL) has invited global bids for electric vehicles which will also be used by government departments. EESL will buy the electric vehicles in two phases as a part of a bigger initiative. A news daily reported the government aims at putting more than 1 million electric three wheelers and 10,000 electrically powered city buses on the country’s roads by mid 2019.

Speaking about the development, Managing Director at Energy Efficiency Services Limited (EESL), Saurabh Kumar said they will initially start small and scale up the program later. “We are testing a business model. This is a signal to the industry that government is serious about it. And 10,000 EVs is just the starting,” he added. According to sources, the electric rickshaws will have a speed limit below 25 KM per hour and will be able to seat four passengers excluding the driver. The electric autos will be able to cover larger distances with a speed limit of 45 KM per hour.

These vehicles will be procured by EESL and leased out to aggregators to be deployed in the market. The bidding on the tender will be conducted on September 25 and the tender will be awarded on 30 September. Piyush Goyal recently announced that their aim was to make India the first country of its size to have 100 per cent electric cars by 2030.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Entrepreneur Stories

SoftBank To Sell Off Entire Stake In Flipkart

Published

on

SoftBank Sell Off Entire Stake In Flipkart,Startup Stories,Startup News India,2018 Latest Business News,SoftBank Business Updates,Walmart acquisition,SoftBank funding,SoftBank CEO Masayoshi Son,Flipkart Stake

SoftBank Group Corp., a Japanese multinational conglomerate, is in talks to sell off its entire stake in Flipkart. In a recent announcement, SoftBank confirmed that it will sell its stake of 23.6 % in the e tailer giant Flipkart, post the Walmart acquisition.

SoftBank spokesperson stated, SoftBank confirms the sale of its entire stake in Flipkart to Walmart.

The CEO Masayoshi Son, said its investment in the Indian e commerce Flipkart, was worth around $ 4 billion. The SoftBank Vision Fund also invested $ 30 billion in startups, last year. At a recent press conference held in Tokyo, Masayoshi disclosed that SoftBank’s $ 2.5 billion stake in Flipkart which was picked up last year, would be now worth $ 4 billion if it chooses to exit the firm. As the SoftBank’s fund is registered in Jersey, USA, there is no Double Taxation Avoidance Agreement (DTAA) as a buffer. However, SoftBank has now decided to sell the stake and work out the tax issues. SoftBank was earlier in discussions as well in order to stay invested in Flipkart and delay the sale due to tax issues related to short term capital gains.

 

According to a source, Walmart’s price implies Flipkart’s operating losses over the 18 months starting in August would be close to $ 2 billion. The overall hit to Walmart’s earnings from the Flipkart deal, including Flipkart’s losses, will be between $ 2.5 billion and $ 2.7 billion.

In the next coming years, Walmart’s approach toward Flipkart’s financial activities is likely to be determined by its investors in the United States. However, Walmart’s stock fell by 4% on the day it announced the Flipkart acquisition.

The buzz is SoftBank is also looking forward to exploring other avenues since it is not willing to miss out on Indian e commerce industry. Walmart also claims that SoftBank’s decision of selling its stake in Flipkart, will not make a major difference to its future plans for Flipkart.

 

Continue Reading

Latest News

Netherlands To Setup ‘Startup Link’ In Collaboration With India

Published

on

Netherlands To Setup Startup Link,Startup Link Collaboration With India,Startup Stories,Startup News India,Netherlands Prime Minister Mark Rutte,Startup Link in India,Largest Investor in Netherlands,Indian Market

The Prime Minister of Netherlands, Mark Rutte is all set to visit Bengaluru on 25 May.

The Country wants to strengthen  the innovation ecosystem with India efficiently. This comprises the setting up of Startup Link in India. Startup Link is an umbrella initiative in order to help Dutch startups explore the Indian market. This trip for Mark Rutte plays a vital role in pertaining to Netherland’s focus toward India.

It could also be understood by the fact  with a 120 member business trade delegation, with two ministers and the mayor of the Hague to Bengaluru, the Netherlands-India delegate is the country’s largest delegate to any foreign country!

Even larger than that of Netherland’s recent visit to China.

The Netherlands Minister for Foreign Trade and Development Cooperation, Sigrid Kaag, is expected to launch the Indo-Dutch Startup Link Digital Hub, on 25 May.

According to a source, Consul General Jaap Werner stated,

The delegates will be visiting Delhi, Mumbai and Bengaluru, signing a number of MoUs to promote technology and Innovations at all levels universities to SMEs and corporates. In Bengaluru alone, we are expecting to sign 15-20 MoUs. The Bengaluru visit will focus to strengthen the bilateral trades and relationships in the areas of healthcare, smart cities, life sciences, waste management and cybersecurity.

Recently, Netherlands also upgraded its Bengaluru, South India office to a fully operational Consulate General. It also amalgamated various ministerial departments under one roof.

The Senior Deputy Representative Consulate General Of Netherlands, Bengaluru, Meenakshi P.R., stated that the Consulate General would also help Dutch startups soft launch in Indian territory, specifically in Bengaluru.

She also added,  IoT, 3D Printing, cybersecurity and blockchain are some of the areas where the startups under startup link can collaborate.

Apart from that, the events on 25 May also include an ‘Innovation power lunch’ where the Dutch PM will meet 30 top Indian CEOs.

However, there are over 200 Netherlands companies operating in India. While India is the fourth largest investor in the Netherlands, the latter stands fifth in India.

There are plenty of opportunities and challenges to do business in the Indian market. India has been abuzz with Startup culture now!

 

Continue Reading

Latest News

Google Launches YouTube Music Service

Startup Admin

Published

on

Google Launches YouTube Music Service,Startup Stories,Startup News India,2018 Technology News,New YouTube Music Service,YouTube Music,YouTube New Music Streaming,Google YouTube Music

With more than 1 billion people visiting YouTube on a daily basis, it comes as no surprise that music is the most listened to service on the online streaming platform. With Netflix and Spotify gearing up to compete with YouTube, the new YouTube Music service comes as a refreshing change of pace.

To put it in simple words, YouTube Music is a service which lets you stream and play music, with discovery being a major part of the service. While Google Play lets you do the same, there are quite a few differences between the two services provided by Google. Unlike Google Play, YouTube Music lets you do more than stream music. The service gives you the remixes, covers, live versions and parodies YouTube hosts too, as well as music from people who do not have record or albums.

Furthermore, Google’s YouTube Music gives you music even with extremely vague key words. Not just that, it creates very specific playlists. For example, if you are at the airport, the app creates a relaxing and refreshing playlist perfect for traveling. With discovery playing such a major role in this new service, get ready to explore and experience music like never before!

“To preserve this incredible opportunity the music business has, we need competition in distribution,” said Lyor Cohen, YouTube’s head of music. “It’s not like it was 30 years ago, when some guy could rent a warehouse, buy a bunch of records and put a sign called Tower Records in front. Now you have to have a ton of engineers, a global footprint and a ton of money.” Scheduled to launch on 22 May, 2018, Google plans on integrating artificial intelligence into the music app! When it comes to the price, YouTube Music comes at $ 10 for a month. However, Google has not mentioned if there is going to be a family plan package (a service which both Netflix and Spotify offer.)

Continue Reading
Advertisement

Recent Posts