It is no doubt that China has a commanding lead in the worldwide market for electric vehicles. However, according to reports, Beijing is ordering businesses to halt their active hunts for production locations in the area, sign new agreements and generally maintain a low level of activity while discussions over EVs are underway.

According to sources, who asked to not be named because the discussions are confidential, the State owned Dongfeng Motor Group has already put a stop to plans to possible manufacturer automobiles in Italy in reaction to the warnings.

Although it is not a hard and fast rule, China’s instruction could exacerbate tensions as the two powers compete for control of the automobile sector. Earlier this month, the European Union voted to raise tariffs on Electric Vehicles (EV) made in China to 45% claiming Beijing unfairly subsidies to its carmakers. China has vehemently disputed this assertion and has now vowed to impose its own tariffs on the European diary, brandy, pork, and automobile industries.

According to one of the sources, Beijing is also worried about the possible overcapacity as a result of Europe’s rocky EV transition and low demand for Chinese cars in the market, even if Dongfeng Motor told Italian officials that Rome’s support for the EU tariffs was the reason for its change.
This tension rose when customs taxes levied by the European Union increased significantly.
Thus, it is can be said that there is high tension between the European Union and the Chinese Electric Vehicle industry.

New Delhi: Facing a barrage of customer complaints amid poor after-sale service, Bhavish Aggarwal-run Ola Electric saw its stock plummet to a record low on Wednesday — below Rs 80 apiece in the morning trade — as market experts said the share may soon trade below its debut price of Rs 76.  

At the end of the day, the stock closed marginally higher at Rs 81.76. During the session, the share touched Rs 79.15 on the lower side and Rs 83 on the higher side. The EV company’s stock has fallen about 48 per cent from its highest level of Rs 157.40.

Ola Electric’s shares were listed in August. After listing, a sharp rally was seen in the Ola Electric and the counter made an all-time high of Rs 157.40. Jigar S Patel, Senior Manager- Technical Research Analyst, Anand Rathi Shares and Stock Brokers, said for Ola Electric, the support will be at Rs 76 and resistance at Rs 86. Market experts said that the strong support of Rs 86 has broken in Ola Electric and the next target is Rs 75 and the “trend in the counter continues to be negative”.

The stock remains weak and selling is being seen at all levels. Due to the weakness, investors should stay away from this stock and invest in stocks with strong fundamentals, said market analysts. The reason for the fall in the shares of Ola Electric is the decline in sales and service-related problems.

According to the government portal Vahan, Ola Electric sold 24,665 e-scooters in September. In August, this figure was 27,587. As per reports, Ola Electric’s flagship S1 series EV scooter has become a nightmare for hundreds of customers who are consistently facing issues like malfunctioning hardware and glitching software and spare parts are hard to come by, resulting in inordinate delays.

Market analysts say that the share is showing extreme volatility due to challenges the company faces as well as rising competition and service-related issues.

Online food ordering and delivery company Swiggy has set a new Guinness World Record in collaboration with actor Ajay Devgn and director Rohit Shetty. The new record has been made for delivering the largest vada pav order – 11,000 vada pavs – in a single delivery. The order was delivered using Swiggy’s newly launched XL EVs for bulk deliveries. The vada pavs were delivered to children from the Robin Hood Army, an NGO that focuses on fighting hunger through surplus food distribution across multiple locations in Mumbai.

Mumbai’s iconic vada pavs were delivered by MM Mithaiwala, who collaborated with the upcoming film ‘Singham Again‘ team. Swiggy XL, a fleet of electric vehicles introduced to efficiently handle high-volume orders, played an instrumental role in achieving this Guinness World Record.
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The first stop was Airport High School and Junior College in Vile Parle, where Ajay Devgn, Rohit Shetty and Swiggy Co-founder Phani Kishan received the order, creating a Guinness World Record for the largest number of Vada pavs delivered in a single order. The vada pavs were distributed across Robin Hood Army-supported schools in Bandra, Juhu, Andheri East (Chandivali and Chakala), Malad, and Borivali.

Phani Kishan, Co-founder and Chief Growth Officer, Swiggy said, “In the 10 years of Swiggy, we have delivered millions of vada pavs across Mumbai, and other cities. We’re going XL by teaming up with ‘Singham Again’ to set a Guinness World Record for the largest single food order for vada pavs. This exciting event perfectly captures Swiggy’s commitment to delivering food whether big or small-and celebrates the love for Mumbai’s iconic street food in a truly spectacular Singham style.”
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Speaking about the record, director Rohit Shetty said, “We are pleased to have collaborated with Swiggy for this record-breaking delivery of vada pav, bringing food and joy to children. Like Singham’s larger-than-life personality and strong ethics, this initiative has achieved a meaningful cause.”

The event concluded with children enjoying the vada pavs, marking the success of this new Guinness World Record made by Swiggy and the ‘Singham Again‘ team.