DELAYED VEHICLE DELIVERY
Ola Electric Q2 revenue slumps 39% to Rs 421 crore, losses narrow
The company said it has stopped orders from its direct-to-consumer stores on November 1, and plans to close them by December. The company, which had announced a pivot to a dealership model in August, now has 255 dealer partners operating over 300 stores, it said in the shareholder letter.
Ola Electric says demand outstrips supply, targets 25,000 vehicles in December
Ola Electric Mobility is experiencing high demand for its electric two-wheelers, causing supply constraints. The company plans to ramp up production to approximately 25,000 vehicles by December. Despite these plans, recent losses were reported along with a decline in consolidated revenue from operations. Ola Electric has significantly reduced its borrowings and expects to generate free cash flow soon.
Ola Electric Q2 Results: Loss narrows YoY to Rs 362 crore, revenue falls 39%
Ola Electric Q2 Results: The electric two-wheeler maker's revenue from operations fell 39% year-on-year (YoY) to Rs 421 crore from Rs 690 crore in the year-ago quarter.
Q2 Earnings Scorecard: Which sectors outperformed and which fell behind?
The September quarter results indicate strong revenue and profit growth in sectors like automobiles and banking. In contrast, sectors such as IT and pharmaceuticals showed weakness amid inflationary pressures. Automobile sector leaders like Maruti Suzuki and Bajaj Auto reported significant growth in sales and exports. L&T's orders surged, while the cement sector faced challenges with fluctuating prices.
India's invisible pain: The dirt in the air comes with a hefty price tag for economy and businesses
Severe pollution plaguing Indian cities is taking a toll on businesses. Restrictions placed on construction and transportation impede the movement of goods, leading to increased operational expenses. Many consumers are opting out of outdoor activities due to dangerous air quality, resulting in a drop in sales and foot traffic.
Tesla Cybertruck hits a dead end: Elon Musk's futuristic EV launched 4 years after unveiling, sold only 10% of his target, with its biggest buyer being another of the billionaire's companies
Elon Musk revealed that Tesla will halt Cybertruck production at Gigafactory Texas around mid-2027. The Cybertruck sold only 20,237 units last year, far below Musk's expectations of 250,000 units annually. Multiple delays and recalls significantly impacted the Cybertruck's journey since its unveiling in November 2019. Tesla plans to increase production of the Cybercab as part of its future strategy.
What went wrong with Tesla Cybertruck? Elon Musk says production will wind down in mid-2027
Tesla Cybertruck production: Tesla plans to wind down Cybertruck production at its Texas factory around mid-2027 as Elon Musk shifts manufacturing capacity towards the Cybercab. The decision follows years of production delays, repeated recalls, steep price increases and sales that fell short of the company's original ambitions.
Tesla Cybertruck discontinued: Elon Musk suffers big setback after spending $446 million backing Republicans who lost in midterm
Cybertruck cancelled: Tech billionaire Elon Musk is facing new business challenges as Tesla plans to wind down Cybertruck production. After spending at least $446 million backing Republicans in the 2026 elections, Musk saw Democrats make major gains. House Democrats have also called for investigations into his work at DOGE and promised to scrutinize federal funding for his companies.
European shares rise as miners rally, tech stocks lag
European shares opened higher, led by mining stocks, as strong earnings from ArcelorMittal and easing oil prices supported sentiment. Technology stocks declined amid concerns over US policy scrutiny of AI infrastructure, while Rheinmetall plunged after cutting its sales forecast.
EV maker Eka plans production in line with infra readiness
Eka Mobility, a Pune-based electric vehicle maker, is facing delays with electric bus deliveries due to charging infrastructure issues. The company can only deliver around 2,000 electric buses from an order book of approximately 11,000 over the next two years. Depot readiness takes about a year as state transport needs to establish necessary infrastructure. Chairman Sudhir Mehta suggested that the government should separate depot development from bus procurement.
Indian auto's real test lies ahead after firecracker start to festive season
India’s passenger vehicle dispatches crossed the 5-lakh mark for the first time in October, with wholesales estimated to grow 13-15% year-on-year to 5.25-5.3 lakh units. Maruti Suzuki and Hyundai reported record monthly sales, while commercial vehicle makers also posted strong growth.
ideaForge records profit in Q2 as revenue rises 124% to Rs 91 crore
"Building on the steady start of the year in Q1 FY27, Q2 FY27 saw continued progress in order book execution, new product development, and preparations to capitalise on upcoming procurement opportunities," cofounder and chief executive Ankit Mehta said in a statement.
Bali's petrol queues offer a reality check for India's holidaymakers
Bali is currently facing a fuel supply crisis that is causing significant disruption for travelers. Traffic jams and fuel shortages have led to longer wait times for airport transfers and local commutes. Authorities have implemented measures to improve fuel distribution and manage demand effectively. Despite challenges, tourist arrivals remain steady, contributing to the local economy. Travelers are advised to check fuel availability before visiting popular attractions in Bali.
Woman found AC, TV damaged in shifting, 23 items missing; sought Rs 7.75 lakh compensation from movers; gets relief in consumer commission
The lady claimed that the AC was delivered in broken condition, which is beyond repair and the LED TV was also damaged. When she told this to the movers, they were allegedly not ready to accept their mistake and, in turn, blamed others. According to Ms Longchar, the movers agreed to pay Rs 25,000 for the damaged AC after a lot of hassle.
ET Prime Special Series: Multibagger or IBC - Part 81: Momentum in numbers will decide fate of this auto ancillary's stock
A few years back, the important question for this auto ancillary supplier was whether its investments and customer programmes would begin producing enough revenue. Today, the numbers look very different. Annual income has jumped, exports have risen, and a large overseas-linked order has helped deliver a record quarter. How much of the improvement is repeatable, and how much reflects an unusual opportunity?
Taxi driver seeks Rs 3,000 for phone left in car, what Bengaluru police did next surprises everyone
A business visitor's account of recovering his manager's lost phone in Bengaluru has drawn attention online after a dispute over its return allegedly escalated into a Rs 3,000 demand. The men approached the Chikkajala police after spending hours trying to resolve the issue themselves. The officers helped bridge a language barrier, contacted the driver and facilitated an arrangement to retrieve the device, prompting users to praise their response.
Zelenskyy says early warning system for Russian missile attacks resumes following call with Rubio
Ukrainian President Volodymyr Zelenskyy stated that his country is now receiving crucial early warning intelligence from partners. Recent Russian missile attacks caused significant civilian casualties, prompting Zelenskyy to seek more American assistance. Although U.S. officials deny any political directives to slow support, Zelenskyy expressed concerns over military supplies and restrictions. European countries continue to allocate substantial funding to support Ukraine amid these challenges.
Russian aerial blitz kills 9 in Ukraine as Zelenskyy meets US and European officials in Norway
Russia conducted missile and drone strikes across Ukraine, causing civilian casualties and significant damage to infrastructure. Ukrainian President Volodymyr Zelenskyy is in Norway seeking increased American and European support for his country. Despite ongoing attacks, Zelenskyy expressed concerns about the delay in U.S. military aid, including critical air defense interceptors. European nations have stepped up their support, fearing Russian aggression will extend further.
How Elon Musk's 'flying car' can stick to ceilings and lift up from ground: Check booking details and will Tesla Roadster be legal?
Elon Musk’s Tesla Roadster has showcased stunts that seem to defy the laws of physics, from lifting off the ground to driving upside down. But the technology behind these moves is very different from what powers an ordinary electric car. Here’s how its rocket thrusters and suction system work, what makes its performance claims unusual, and whether buyers will be able to get their hands on this futuristic vehicle.
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