As of May 2024, the average price tag for a used electric vehicle stands at USD 28,767, marking an 8.3 percent reduction.

The capital infusion from Cactus Partners will be channeled into several strategic initiatives by Indigrid Technology.

Lectrix EV, launched in 2020, is the electric mobility division of the SAR Group.

It has already attracted over 10,000 customers with its long range, performance, and advanced features.

Positioned as a forward-thinking EV manufacturer committed to green mobility solutions, Corrit Electric aims to make a notable impact in the Middle East.

This partnership underscores the shared commitment of both companies to promote sustainable transportation solutions and contribute to India’s goal of achieving net-zero emissions.

The equity raise is also supported by the Caisse de dépôt et placement du Québec, Investissement Québec, as an agent of the Québec government.

The European Commission intends to levy tariffs of up to 25% on imported Chinese electric vehicles.

Ionna has hinted at the possibility of incorporating “new partners” into its consortium, although the nature of these additions remains ambiguous.

Despite criticisms surrounding the weight and potential for harmful emissions when the batteries are not charged, BYD sold an impressive 1.5 million PHEVs last year,