E Daddy, a sustainable urban mobility start-up, has announced the successful acquisition of $15 million (approximately AED 55 million) in funding, marking a significant milestone in its mission to revolutionise the UAE’s electric vehicle (EV) landscape. Headquartered in Dubai, E Daddy is the first company in the region to manufacture vehicles end-to-end within the Emirates,
On Friday, Ola Electric Mobility’s shares surged by 20% on their trading debut in Mumbai, India, highlighting growing investor confidence in the electric vehicle (EV) sector. The stock, initially listed at its IPO price of ₹76, quickly rose to ₹91.20, pushing the company’s valuation to an impressive $4.8 billion. This surge reflects a broader optimism
Al Laith, a leading provider of diverse temporary project solutions in the Middle East, is proud to announce its role as the Official Temporary Infrastructure Strategic Partner in an extensive multi-year collaboration with the Saudi Motorsport Company (SMC). As part of this wide-ranging strategic partnership, Al Laith will provide equipment and services for the 2024
Automobile giant Toyota has opened an inclusive mobility park in Paris. As the worldwide mobility partner of the International Olympic Committee (IOC) and the International Paralympic Committee (IPC), the company is committed to providing sustainable inclusive mobility solutions to the athletes, officials, volunteers, accredited media, and spectators. Most of the solutions presented at the park
Luxury carmaker Porsche expects the transition to electric vehicles to take longer than it thought, it has said, having previously said its aim was for 80% of sales to be all-electric by 2030. It has now watered down that goal by tying it explicitly to customer demand and developments in the electromobility sector, saying in
Volkswagen has warned that it may close the Brussels site of its luxury brand Audi due to a sharp drop in demand for high-end electric cars that has hit Europe’s top carmaker, forcing it to cut its margin target for the current year. Volkswagen has not shut down a plant since it closed the Westmoreland site
The European Union will impose tariffs of up to 37.6% on imports of electric vehicles made in China, EU officials said, ratcheting up tensions with Beijing in Brussels’ largest trade case yet. There is however a four-month window during which the tariffs are provisional and intensive talks are expected to continue between the two sides
Tesla shareholders approved CEO Elon Musk’s $56 billion pay package, the electric vehicle-maker said, a big thumbs-up to his leadership and an incentive to keep his focus on his biggest source of wealth. The approval underscores the support that Musk enjoys from Tesla’s retail investor base, many of whom are vocal fans of the mercurial
Cardino, a pioneer in the used electric vehicle (EV) market, announced a €4 million seed funding round spearheaded by Point Nine. The funding round was supported by an array of distinguished angel investors and notable figures, including key investors from platforms like Rosberg Ventures, Vinted.com, Bolt, HomeToGo, Dance and HeyJobs. Cardino was founded in 2022
European governments may be wary of budget Chinese electric vehicles flooding their markets but they’re also fiercely competing for a share of the manufacturing investment and jobs the new competitors bring. While the European Union investigates China’s auto subsidies and considers tariffs on imports, national governments across the bloc are dangling their own incentives to
