Latest news with #ElectricVehicle
Arab News
a day ago
- Automotive
- Arab News
Pakistan unveils new EV policy with over $353 million in subsidies for electric bikes, rickshaws
ISLAMABAD: The government on Thursday unveiled Pakistan's new Electric Vehicle (EV) Policy 2025-30, announcing a five-year subsidy of over Rs100 billion ($353 million) for electric bikes and rickshaws. The move comes amid a steady rise in electric vehicle adoption in a market traditionally dominated by Japanese automakers. Pakistan's urban areas exhibit some of the world's highest levels of air pollution, with road transport being a major contributor. Chinese and Korean EV brands are increasingly entering the local market, making these vehicles a more frequent sight in cities such as Islamabad, Lahore and Karachi. 'Total subsidy over five years will be over Rs100 billion and it will basically be focused on the two-and-three wheelers,' Haroon Akhtar Khan, a close aide to Prime Minister Shehbaz Sharif, told a news conference. 'We will have subsidized financing for 116,053 electric bikes, 3,171 rickshaws.' 'A Rs9 billion [$31 million] subsidy will be allocated, and it is already there in the 2025-26 budget,' he continued. Khan added the government also allocated a 25 percent quota for women to increase their mobility. He projected the initiative will help with the annual savings of Rs283 billion ($1 billion) in fuel costs and a reduction of 4.5 million tons of carbon emissions. Khan said Pakistan's new EV policy was aimed at disincentivizing internal combustion engine vehicles and promoting electric mobility to help cut greenhouse gas emissions that damage the earth's ozone layer. He informed Pakistan has around 70,000 electric motorcycles, 5,200 electric cars and 450 electric buses, adding the government issued 61 manufacturing licenses for electric two- and three-wheelers including motorcycles and rickshaws. Khan also acknowledged the country lacks adequate EV charging infrastructure and faces challenges related to the absence of safety and quality standards. He said the government aims for 30 percent of all new vehicles produced over the next five years to be electric. 'So, we are establishing new electric vehicle testing rules, safety and emission standards,' he said. 'We have to make sure that if anybody is manufacturing an electric vehicle there are no emissions,' he continued. 'Another thing is battery disposal. We don't want to create any environmental problem that the battery is not disposed properly.' The country previously approved an ambitious National Electric Vehicles Policy (NEVP) in 2019, aiming for electric vehicles to make up 30 percent of all passenger car and heavy-duty truck sales by 2030. The policy set an even more ambitious target of making 90 percent of all vehicle sales electric by 2040.
Business Standard
3 days ago
- Business
- Business Standard
ENBEE Trade and Finance to consider the declaration of upto 50% Interim Dividend for the Financial Year 2025- 26
PNN Mumbai (Maharashtra) [India], June 17: ENBEE Trade and Finance Limited (BSE: 512441), a non-banking financial company is considering the declaration of upto 50% Interim Dividend for the Financial Year 2025- 26. Meeting of the Board of Directors of the company is scheduled on 20th June 2025 for the decision. Face value of the company's share is Rs. 1 per share. For the financial year ended March 31, 2025, ENBEE Trade and Finance Ltd reported total revenue of Rs. 19.73 crore, a sharp increase from Rs.10.25 crore in FY 2023-24--translating to more than a 92% year-on-year growth. The company's net profit for FY25 stood at Rs. 4.95 crore, reflecting a nearly 217% Y-o-Y rise compared to Rs. 1.56 crore in FY24. For the fourth quarter that ended on March 31, 2025, the company recorded a consolidated net profit of Rs. 1.64 crore, a 76% Y-o-Y rise compared to net profit of Rs.0.93 crore in Q4 FY24. These results underscore ENBEE's strong operational momentum, robust growth strategy, and disciplined financial execution. Company has recently announced a strategic alliance with Sunrise FinServe Pvt Ltd in a move aimed at significantly enhancing the efficiency and scalability of its loan disbursement operations. The partnership marks a an important step in ENBEE's ongoing efforts to strengthen its lending ecosystem, particularly across the states of Maharashtra and Gujarat. This collaboration will see ENBEE leveraging Sunrise FinServe's experience, strong distribution network, and advanced customer acquisition capabilities to enhance the lending processes. The partnership is set up to speed things up, make the application process easier, and help more people in smaller towns and underserved areas get access to credit. The management of ENBEE Trade and Finance Ltd, commented, "We're really happy to team up with Sunrise FinServe Pvt Ltd as we grow our lending business. This partnership will help us work more smoothly and reach more people who need financial support. With Sunrise's experience and strong digital network, we'll be able to offer faster and easier financial services, especially in important areas like Maharashtra and Gujarat." Enbee Trade & Finance has taken an aggressive stance on sustainable finance, targeting projects in solar panel installations, wind energy developments, Electric Vehicle (EV) charging infrastructure. Additionally, the company plans to fund startups promoting green technologies and enterprises aligned with ESG standards. This includes financial backing for renewable energy adoption, social impact ventures and eco-friendly industry practices. The company came up with Rs 45.08 crore Right Issue in December 2024. The issue size was 3,46,76,061 shares. The Rights Issue was priced at ₹13 per share, offered existing shareholders an opportunity to enhance their equity stake in the company. The Board of Directors had considered and approved the rights issue, with an entitlement of 121 Rights Equity Shares for every 50 fully paid-up equity shares held as on the record date of November 28, 2024. Enbee Trade and Finance Rights Issue 2024 got oversubscribed by 1.03 times by the end of the bidding period with total bid quantity received by BSE of 3,55,58,889 shares. The amount was raised to repay unsecured loans availed by the company from promoter and promoter group of the company as well as augmentation of capital base of the company. About ENBEE Trade and Finance Limited Established in 1985, ENBEE Trade and Finance Ltd is a non-deposit taking NBFC registered with the Reserve Bank of India. The company is primarily engaged in providing business loans, personal loans, and structured financial solutions to SMEs and individuals.
CTV News
13-06-2025
- Automotive
- CTV News
Tesla upgrades its Model S and X cars in U.S., raises prices by $5,000
Tesla said on Thursday it upgraded its Model S and Model X cars in the U.S. and raised their prices by $5,000, according to the electric vehicle maker's post on X and its website. Prices were hiked for all configurations of the two models by $5,000, Tesla's website showed. The all-wheel drive version of Model X costs $89,990, while its plaid variant is priced at $104,990. The model S all-wheel drive now costs $84,990 and its plaid variant is $99,990. Model S & X are now even better – launching today in the US 🇺🇸 Highlights: – Frost Blue paint color – Up to 410 miles of range (Model S Long Range – our longest range Tesla yet) – Even quieter inside: less wind + road noise & more effective Active Noise Cancellation – New… — Tesla (@Tesla) June 13, 2025 (Reporting by Devika Nair in Bengaluru)
Car and Driver
12-06-2025
- Automotive
- Car and Driver
2026 BMW XM Comes Exclusively in 738-HP Guise and Charges Faster
BMW has dropped the base model from the XM's lineup for 2026, leaving only the 738-hp Label variant. The XM will charge more quickly than before, with BMW upping the maximum charging rate from 7.4 to 11 kilowatt. BMW will also offer a new Frozen Tanzanite Blue exterior color; production of the 2026 XM starts this August. The BMW XM and its aggressive snout debuted for the 2023 model year with a 644-hp plug-in hybrid powertrain, before adding the even brawnier Label variant for the 2024 model year. For 2026, the XM lineup reverts back to just one trim, ditching the base model and retaining only the 738-hp Label model. The 2026 BMW XM also receives a series of new optional colors inside and out, along with a faster charging rate for the battery. Just One Type of XM Since the entry-level XM is no longer, the combination of a twin-turbocharged V-8 and an electric motor will generate 738 horsepower and 738 pound-feet of torque in all XMs for 2026. The 4.4-liter engine is good for 577 hp on its own, while the transmission-mounted electric motor makes 194 hp. An eight-speed automatic transmission routes those motivating forces to all four wheels, allowing this behemoth to blast from zero to 60 mph in a claimed 3.6 seconds. However, in Car and Driver's instrumented testing, the 644-hp version leapt to 60 mph in 3.4 seconds; the Label is likely even quicker than BMW says. Top speed is limited to 155 mph, but opting for the M Driver's package unlocks a 175-mph maximum. This content is imported from Third party. You may be able to find the same content in another format, or you may be able to find more information, at their web site. View Photos BMW Along with simplifying the lineup, BMW has added a new optional BMW Individual color called Frozen Tanzanite Blue metallic. The 23-inch alloy wheels can also now be had in Jet Black, and BMW also implemented a new "Welcome Light Animation" that displays as the owner approaches and unlocks the car. There are three new BMW Individual interior color combinations for 2026. Two of these—Night Blue with Vintage Coffee accents and black with Vintage Coffee accents—are "full" Merino leather packages, meaning virtually every surface of the cabin is covered in the rich material. The last, Silverstone with black accents, is an "extended" Merino leather package, meaning some areas, such as the lower dash, do not receive leather upholstery. View Photos BMW Lastly, but arguably most importantly, BMW has increased the onboard AC charger from 7.4 kilowatts to 11 kilowatts, which will allow the XM to replenish its 26-kWh battery more quickly. BMW says production for the 2026 model year will kick off at its Spartanburg, South Carolina, plant in August, with pricing to be revealed later. The 2025 XM Label starts at $186,175, and we expect the price to rise only slightly for the 2026 model year. Caleb Miller Associate News Editor Caleb Miller began blogging about cars at 13 years old, and he realized his dream of writing for a car magazine after graduating from Carnegie Mellon University and joining the Car and Driver team. He loves quirky and obscure autos, aiming to one day own something bizarre like a Nissan S-Cargo, and is an avid motorsports fan. This content is imported from Third party. You may be able to find the same content in another format, or you may be able to find more information, at their web site.
Business News Wales
11-06-2025
- Business
- Business News Wales
Green Light for New Aberavon Aldi and Starbucks Development
Proposals for a new Aldi food store and Starbucks coffee shop on vacant land known locally as Burrows Yard in Aberavon, Port Talbot, have been approved. Members of Neath Port Talbot Council's Planning Committee gave the go ahead for the development earlier this month. It will involve 141 parking spaces, a number of bicycle parking hoops and 18 Electric Vehicle (EV) charging points. The Starbucks outlet will come with an associated drive-thru facility. The planning permission also covers landscaping and drainage works and access onto the adjacent Afan Way and Water Street. The new development will also mean Active Travel benefits for Water Street. There will be a new pedestrian / cycle route from Water Street (3.5m wide) and a widened footway along Water Street's southern flank (3.2m wide). Cllr Jeremy Hurley, Neath Port Talbot Council's Cabinet Member for Climate Change and Economic Growth, said: 'This proposal will result in the redevelopment of what has been derelict, unsightly, underused and vacant land. 'The project will contribute to creating a more viable 'destination' for shoppers both travelling to Port Talbot via car or using active travel.' A planning officers' report said: 'It is considered the proposal represents an appropriate form of development that integrates well within the surrounding urban context, with no adverse impacts upon visual amenity, residential amenity, flood risk or drainage, land contamination, highway or pedestrian safety nor biodiversity.' Public consultation led to 317 representations of support with just three objections. The planning committee was told the development fits in with Future Wales: The National Plan 2040 which is the national development framework, setting the direction for development in Wales to 2040. The development plan sets out a strategy for addressing key national priorities through the planning system, including sustaining and developing a vibrant economy, achieving decarbonisation and climate resilience, developing strong ecosystems and improving the health and wellbeing of communities.
