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Future of electric vehicles in India

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Grab your sunglasses, because the future is brighter than ever. The reason for our optimism?
Because the world’s most valuable electric vehicle manufacturer, Tesla, is now all set to launch its cars in India this year.
The launch of the tech giant is expected to boost the adoption of EVs in the country. This launch is also proof that there is a lot to gain via the widespread adoption of EVs. Plus, the Make in India program can aid the manufacturing of EVs and their components. Some reports show that this could increase the country’s GDP by 25 per cent over the coming years.
EV adoption campaigns
Some cities like Delhi, Kolkata, etc. aggressively promoted the use of e-rickshaws to lower operation and economical costs. There are reportedly over one lakh e-rickshaws on the streets of Delhi while Kolkata is also following suit. This development is encouraging a jump in EV sales for personal use as well.
The newly launched ‘Switch Delhi’ Campaign has seen a great response so far which is an encouraging sign for the EV industry. The campaign was introduced to promote the adoption of EVs. Owing to its success, some leading two-wheeler companies have stated that they will be launching new EV models in the nation’s capital.
The Transport Minister of Delhi announced that since the campaign was launched, there has been an increased registration of electric two-wheelers. The campaign is an eight-week awareness drive to promote the benefits of switching to EVs. The Switch Delhi campaign also aims at focusing on creating an outreach for electric three-wheelers while encouraging people to opt for this mode of public transport.
Battery swapping stations
The rise in demand for delivery services also creates a demand for increased run-time. As EVs take over the delivery system, there is a need for them to maintain speed. The battery charging process for an EV usually takes up to a couple of hours, which can be a problem if delivery personnel have to constantly wait for a charge to complete.
Therefore, some last-mile delivery companies have actively set up battery swapping stations to decrease the turnaround time. With these battery swapping stations; delivery personnel can swap a drained battery for a fully charged battery in a matter of a few minutes.
These battery swapping stations are catching on as awareness of their effectiveness spreads. It’s a solution that is being adopted by automobile companies to provide their customers with a short and convenient solution to their EV charging needs. The future looks to be clean and green, so prepare to be electrified.

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Business

Facebook to rebrand the company ‘Metaverse’

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Facebook is the world’s largest, and arguably most influential, social media platform, with more than 2.8 billion monthly active users and a net worth as of now of $1 trillion.

It’s safe to say that the majority of our lives rely on Facebook. Recently, Facebook, the parent company of Instagram and WhatsApp, hit the headlines when it went dark for six hours, causing havoc all over the world.

According to a report by The Verge, Facebook is planning to rebrand the company with a new name to focus on building the metaverse. Metaverse, as the term suggests, is a virtual-reality space in which users can interact with a computer-generated environment and other users.

According to the report, CEO Mark Zuckerberg will reveal the company’s new name on October 28 at the annual Connect conference, but it could be announced sooner.

Facebook, which aspires to be renowned for more than just social networking, revealed on Sunday that it will hire 10,000 people in Europe over the next five years to help construct the metaverse, which the corporation regards as critical to its long-term success.

In July, Zuckerberg said that Facebook’s future lies in the virtual metaverse, in which users will live, work and play inside.

Facebook already has more than 10,000 employees who build consumer hardware like AR glasses that Zuckerberg believes will be as ubiquitous as smartphones.

The company wants to be known as much more than a “social media” company, and is promising to change the way humanity interacts.

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One to lookout for: Rakesh Jhunjhunwala invests in a furniture startup!

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Rakesh Jhunjhunwala, often referred to as India’s own Warren Buffett, is an ace investor with a track record of successful investing. Many treat him as a bellwether, and look to him for guidance and inspiration when it comes to navigating the vagaries of the investing landscape. And so, it would be of interest to investors to know that India’s Big Bull has out his money where his mouth is and invested in a furniture-based startup, Arrivae.

What is Aarivae?

Founded in 2017, Arrivae is a customized full home interior solution provider that enables customers to get the house customers want. From designing the finest homes by some of the finest architects and interior designers to material supplied by some of the most credible vendors. It specializes in providing practical solutions for various situations. Arrivae works in four simple steps; meeting the designer, designs made for customers, intelligent manufacturing and lastly concierge services.

Arrivae raised Rs 50 crore in its first round of external funding, backed by ace investor Rakesh Jhunjhunwala. Enam family, Siddharth Yog (Founder, Xander Group), Anand Jain (Chairman, Jai Corp), Harsh Jain (Founder, Dream 11), and Ramesh S. Damani (Chairman, DMart) all participated in the fundraising round.

“At Arrivae, we’re still in the early phases of our plan to build India’s most comprehensive home renovation ecosystem. Partnerships are important to us at Arrivae because they help us build brand confidence in the ecosystem, especially among customers.” said founder Yash Kela.

Kela rounded things off by saying, “All the veterans who have participated in this round will enable more faith in the Arrivae brand.”

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The right pricing will be crucial for the launch of Zydus Cadila’s vaccine.

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The destiny of Zydus Cadila’s Covid vaccine is in doubt, as the vaccine’s price appears to be delaying its introduction into the vaccination program. The business has received emergency use authorization from the FDA to inject its Covid vaccine, ZyCoV-D, to children aged 12 to 18.

Zydus Cadila, located in Ahmedabad, has imported the pharmaJet, a needle-free applicator for painless intradermal vaccine delivery. 

Each jet is responsible for delivering a specific amount of vaccination. 

As a result, a single dose is split into two shots, one for each arm. “It’s an expensive device and hence jacks up the overall price,” a government official said.

Around 20,000 dosages can be administered with the jet injector.

The government has been purchasing Covaxin at 225 per dosage and Covishield, another Covid vaccine developed in India, at 215 per dose.

The price of the Zydus Cadila vaccine, according to Health Secretary Rajesh Bhushan, will be significantly more than that of existing vaccines.

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