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Tesla to bring LFP battery supply chain to US – Bloomberg News – ET Auto

Baua Electric

This year, Tesla’s cheapest cars, the Model 3 compact sedan, lost tax credits for the purchase of EVs under the Inflation Reduction Act. Tesla is expanding its battery facility in Sparks, Nevada to bring the supply chain for cheaper lithium iron phosphate batteries (LFP) to the United States, Bloomberg News reported on Wednesday.

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Rane Brake Lining Q4 profit after tax rises 28% – ET Auto

Baua Electric

Auto component company Rane Brake Lining saw a 28% jump in net profit for Q4FY24 at INR 15.4 Export sales grew 19% during Q4 and had 33% growth for the full year as the company commenced supplies to the US market with new products for CV segment. crore compared to INR 12 crore in Q4FY23. Total revenue increased 12.6% at INR 186.7

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Automakers win extension on use of Chinese graphite in EV tax credits – ET Auto

Baua Electric

Treasury Department on Friday gave automakers additional flexibility on battery mineral requirements for electric vehicle tax credits on some crucial trace minerals from China, such as graphite. 1 restricting Chinese content in batteries eligible for EV tax credits of up to USD 7,500, which sharply cut the number of eligible vehicles.

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Uber, others seek clarity on GST after conflicting rulings – ET Auto

Baua Electric

App-based mobility providers such as Uber have approached the finance ministry, Goods and Services Tax Council and the Authority for Advance Rulings (AAR) seeking clarity on whether their business was liable to tax or not. According to tax experts, conflicting rulings had created ambiguity and there was a need to provide clarity.

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Cadillac ramps up Lyriq electric vehicle output as battery supply grows – ET Auto

Baua Electric

government tax credit this month as new sourcing guidelines kicked in. Download ETAuto App Get Realtime updates Save your favourite articles Scan to download App The post Cadillac ramps up Lyriq electric vehicle output as battery supply grows – ET Auto appeared first on Bauaelectric Auto News.

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Sona Comstar adopts 3-pronged strategy to beat China globally in EV parts supply – ET Auto

Baua Electric

Although I hear that, as we speak, Brussels is thinking of putting a 50% tax on Chinese EV imports into Europe.” Already, Sona Comstar has set up a new manufacturing facility in Mexico, which will be used to supply driveline solutions to BEVs in the North American market.

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Cummins India Q4 FY24 PAT up 76% to INR 562 cr – ET Auto

Baua Electric

Profit after tax at INR 562 crore was higher by 76% compared to the same quarter last year and higher by 23% compared to the previous quarter. Profit before tax at INR 701 crore was higher by 70% compared to the same quarter last year and higher by 16% compared to the previous quarter.

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