Connect with us

Business

FM Nirmala Sitharaman says Air India, BPCL to be sold by March 2020

Published

on

New Delhi: Finance Minister Nirmala Sitharaman on Saturday said that the central government is looking to wrap up the sale of state-run companies Air India and Bharat Petroleum Corporation (BPCL) by March next year.

Sitharaman said that the sale has been strategically decided upon after being aborted a year ago due to lukewarm responses. Many investors have shown interest to purchase the two loss-making companies and it could help meet the government’s disinvestment target of Rs 1 lakh crore in the current fiscal year, she said in an interview.

“We are moving on both with the expectation that we can complete them this year. The ground realities will play out,” Sitharaman stated while speaking to The Times of India.

Earlier this month, Air India chairman Ashwani Lohani, in an open letter to Air India employees, had said that the divestment may enable the airline’s sustainability.

For Air India, there is a “lot of interest” among investors, Ms Sitharaman said.

Recently, the cabinet approved changes in the process of disinvestment where the prospective bidders will be heard in roadshows before the expressions of interest (EoIs) are floated so that concerns of the prospective buyers are addressed.

Last year, the government had floated the Expression of Interest (EoI) for Air India to offload a 76 per cent stake and management control in the airline but it did not get a single bidder. The government currently owns 100 per cent equity of Air India.

Business

Tesla bags 200,000 orders for its futuristic ”Cybertruck”

Published

on

By

New Delhi: Elon Musk is back with a bang with his all-new “Cybertruck”. Irrespective of the controversies the all-new Tesla Cybertruck has gathered, it is one of the most radical wheels that has gone on sale in recent times and is becoming quite popular by the day.

Elon Musk took to Twitter to share that Tesla has already received 200k orders since the launch of the “Cybertruck” which was actually 3 days ago(22 November).

Tesla Cybertruck’s production is expected to begin in late 2020. The electric pickup truck is available in three trims — single motor RWD with a range of over 250 miles, dual-motor AWD with a range of more than 300 miles and tri-motor AWD with a range in the north of 500 miles.

The single motor RWD variant of the Cybertruck can go from 0 to 60 mph in below 6.5 seconds and has a towing capacity of over 7,500 pounds, while the dual-motor AWD trim can make 0-60 mph in under 4.5 seconds and boasts of a towing capacity of more than 10,000 pounds. Tesla claims that the tri-motor AWD variant of the vehicle is good for 0-60 mph in less than 2.9 seconds and gets a towing capacity of 14,000 pounds.

Given its relative performance and price, the Cybertruck could be a massive success for Tesla as it enters into the largest segment in the US market. Almost three million pickups were sold to consumers in 2018. If Tesla can carve off a tiny sliver of that, it’ll go a long way toward taking Tesla’s annual sales to the next level.

Continue Reading

Trending