Page 5 - Electric Mobility

ETO Motors bags order to deploy 500 EV 3-wheelers in UP, focus on Ayodhya

ETO Motors on Monday said it has bagged an order to deploy 500 electric three-wheelers in Uttar Pradesh, with special focus on Ayodhya. The Letter of Award (LoA) given by the Uttar Pradesh government has given the company the responsibility to deploy and manage the electric three-wheelers in Lucknow, Ayodhya, Varanasi, Prayagraj, Agra, Mathura, and Gorakhpur, ETO Motors said in a statement. Notably, ETO Motors has received authorisation to initiate the deployment with a special focus on Ayodhya, coinciding with the inauguration of the Ram Temple, it said. The strategic launch in Ayodhya aims to facilitate devotees visiting the sacred site, marking a beginning for the integration of electric mobility into cultural and religious events, the company said. "Our e-three-wheelers are not just vehicles but carriers of change, driving economic growth and social empowerment while upholding our commitment to environmental stewardship," ETO Motors Director Karthik S Ponnapula said. ETO Moto

Tata Motors begins production at new Sanand plant acquired from Ford

The new facility is spread over 460 acres and is adjacent to Tata Motors' existing passenger vehicle facility in Sanand

Tata Passenger Electric Mobility plans to roll out over 5 EVs in 18 months

Tata Passenger Electric Mobility plans to bring in more than five products in the next 18 months on its first advanced pure electric vehicle architecture 'acti.ev'. The company on Friday said the 'Punch.ev', the electric version of its compact SUV Punch, will be the first product based on its first pure EV architecture, acti.ev. The acti.ev platform will underpin future products from the Tata Passenger Electric Mobility (TPEM) portfolio and spawn a variety of products with multiple body styles and sizes, the company said in a statement. On a promotional video of the acti.ev platform, the company said it plans "five-plus products in the next 18 months". TPEM Chief Products Officer, Head of HV Programs and Customer Service Anand Kulkarni said, "This architecture has been meticulously designed to enable class-leading efficiencies, maximising space, and battery capacity and enhancing the overall driving experience. acti.ev is a global-ready, future-facing pure electric architecture tha

EKA Mobility to partner with Mitsui, VDL; plans joint investment Rs 850 cr

Electric vehicle maker EKA Mobility on Wednesday said it has entered into a partnership with Japan's Mitsui & Co., Ltd and VDL Groep of the Netherlands with a proposed joint investment of over USD 100 million (around Rs 850 crore) in phases. Under the cooperation, EKA Mobility will receive significant and strategic investments from Mitsui and technological support and an equity partnership from VDL Groep, a leading Dutch technology firm, the company said in a statement. It, however, did not elaborate on the financial details of the partnership. "With a joint investment of over USD 100 million in phases, the cooperation will position India as the global manufacturing and sourcing hub for electric vehicles," the statement said. EKA Mobility Founder & Chairman Sudhir Mehta said, this partnership represents a significant step toward making India a global hub for electric vehicle manufacturing. Mitsui & Co India GM Mobility Business Division, Nobuyoshi Umezawa said, "Through ..

Chinese carmaker BYD overtakes Tesla as world's most popular EV maker

Analysts expect BYD to launch its third-generation EVs next year offering more technology, such as automated-driving capabilities

India's plan for 50,000 electric buses on its roads gets support from US

The new fund mechanism from the government is designed to mitigate manufacturers' risks as they access finance for fresh investments

Full charge ahead: E2W sales likely to breach 1 million mark in 2024

Likely to be driven by increasing penetration in rural areas

TVS Motor plans to expand electric two-wheeler range over next 1 year

TVS Motor Company aims to expand its electric two-wheeler portfolio over the next one year as it looks to cater to customers at multiple price points, according to a top company official. The Chennai-based company, which currently has two e-scooters in its portfolio, also plans to expand its electric vehicle sales infrastructure going ahead. It is also developing an electric three-wheeler. "We are also planning to launch a series of products in the range of 5 to 25 kilowatts in the next year," TVS Motor Company Director and CEO K N Radhakrishnan said in an analyst call. He noted that with robust demand in the market, the company has ramped up the production capacity of electric scooter iQube to 25,000 units per month and plans to enhance it further going ahead. TVS plans to commence sales of its new electric scooter TVS X in the current quarter. Radhakrishnan said TVS has close to 400 touchpoints for e-scooters, and the company is continuously expanding the same. "With the produ

Hero Electric seeks to settle Rs 140 crore penalty imposed by MHI

As a result, Hero Electric has made it clear that it, too, is willing to make a similar settlement of any violations that the ministry might ascertain after examining its case

Revfin looking to raise Rs 500 crore in 12 months: CEO Samir Aggarwal

Electric vehicle (EV) digital financing platform Revfin is looking to raise up to Rs 500 crore in the next 12 months to fuel its business expansion plans, founder and CEO Samir Aggarwal has said. The company's expansion plans include the commercial roll-out of its battery financing services before the end of this fiscal year. The platform is also targeting to achieve a topline of Rs 90 crore this fiscal on the back of expanded portfolio, which includes two-, three- and four-wheeler financing for commercial uses, Aggarwal said. Set up in 2018 for financing electric three-wheelers, the Delhi-based digital lender has expanded the business to two- and four-wheeler financing as well as vehicle leasing and rental services. "So far, we have raised about Rs 300 crore which has been in a combination of equity and debt. And the plan is now to raise about Rs 500 crore in the next 12 months," Aggarwal told PTI. He said that the company is in talks with a number of venture capitalists and futu

Servotech Power Systems to instal 5,000 EV charging stations across India

Servotech Power Systems on Tuesday announced plans to instal 5,000 EV-charging stations across the country. In this regard, Servotech Power Systems said it has incorporated a subsidiary, Servotech EV Infra, which will do the business as a Charge Point Operator (CPO) for these EV chargers. "Servotech Power Systems is foraying into the EV CPO business by establishing its wholly owned subsidiary. It will manufacture and supply EV chargers to Servotech EV Infra which will do business as a CPO for these EV chargers," the company said. On the rationale behind the move, the company said the EV charging market is expected to grow rapidly in the coming years as the government is targeting 30 per cent of all vehicles to be electric by 2030. Servotech EV Infra is well positioned to capitalise on this growth, with its strong track record and expertise in the EV charging technology, the company said. "This will prove to be a significant game changer. The expansion into the EV CPO business with

Ultraviolette Automotive forays into Europe with focus on five nations

Electric bike maker Ultraviolette Automotive on Wednesday announced its foray into the European market as it looks to tap growth opportunities in the international markets. The Bengaluru-based company launched its flagship electric bike F77 in Europe with deliveries expected to commence in the second quarter of 2024. The bike is set to be priced between 9,000 to 11,000 euro in Europe, subject to federal/state government incentives and taxes. In an interaction with PTI on the sidelines of EICMA two-wheeler motor show here, Ultraviolette Founder and CEO Narayan Subramaniam said the company will focus on five countries in the continent in the first phase. "In Europe our immediate focus is Italy, Spain, France, Germany and the UK. These five countries would be our immediate target. And then of course, we can look at scaling to other countries as well," he noted. Subramaniam said the company is in active conversation with multiple distributors and dealers in the five geographies. "It

Okaya to partner with IOC to install over 2,500 EV chargers across India

Okaya EV Chargers plans to set up 2,550 electric vehicle chargers across India in collaboration with Indian Oil Corporation (IOC) at an investment of Rs 125 crore, the company said on Tuesday. As many as 362 such chargers have already been installed in over 20 states in a step towards bolstering the electric vehicle infrastructure in the country, according to Okaya EV Chargers. The chargers being set up comprise a diverse range of high-and low-voltage options, including 3.3-kw and 7.4-kw chargers, 30-kw wall-mounted CCS (combined charging system) 2 DC fast chargers, as well as 60-kw CCS2 DC fast chargers, the company said. "This partnership aligns with our vision of creating a sustainable ecosystem for electric vehicles in India. Our advanced charging solutions will empower EV users with convenient and efficient charging options, said Anshul Gupta, Managing Director at Okaya EV Chargers. The total investment for this initiative is pegged at Rs 125 crore, reflecting the substantial

Jaguar Land Rover, CVs take Tata Motors net profit to Rs 3,764 crore

During the quarter under review, the company's revenue from operations increased by 32 per cent to Rs 105,128 crore, up from Rs 79,611 crore during the July to September period of 2022-23

Piaggio Vehicles sells about 26,000 units of electric 3-wheelers in 2023

Piaggio Vehicles Pvt Ltd, the subsidiary of Italian automaker Piaggio & C. SpA, has sold about 26,000 units of its electric three-wheelers this year. The Indian subsidiary had retailed about 12,000 units last year, Amit Sagar, the company's Executive Vice President, Commercial Vehicles said on Thursday. Piaggio Vehicles today launched its first 3-wheeler passenger EV -- Ape E-city FX NE Max in Tamil Nadu priced at Rs 3.46 lakh. The passenger vehicle is an addition to the existing cargo range of vehicles. "We are not only launching a product today, we are launching a mindset, we are launching a new way of commuting," Sagar told reporters, after unveiling Ape E-city FX NE Max passenger that is equipped with a driving range of 145 kms on a single charge. "You will see a different kind of three wheeler in Tamil Nadu. A big difference..", he said and claimed that the running cost of the vehicle was 0.50 paise per kilometre. To a query, he said the company had sold about 26,000 units ..

Ola Electric raises Rs 3,200 cr from investors, SBI to fund EV biz

Ola Electric on Thursday said it has raised Rs 3,200 crore from Temasek-led investors and State Bank of India. The company announced the successful closure of the funding round from Temasek-led investors and State Bank of India. The funds raised would be utilised towards expansion of Ola's EV business and setting up India's first lithium-ion cell manufacturing facility at Krishnagiri, Tamil Nadu, the company said in a statement. The Bengaluru-based firm aims to accelerate its growth by ramping up its two-wheeler manufacturing capacity, launching electric motorcycles followed by electric cars and fast-tracking the construction of gigafactory, it added. "At Ola, our vision is to end ICE (internal combustion engine) age in automobiles and our upcoming gigafactory will be a big leap in India's journey towards becoming a global EV hub. We are committed towards developing core technologies in EVs and cell and are rapidly scaling up manufacturing to further accelerate the transition to ..

TVS Motor onboards ION Mobility to enter sports scooter sector in Indonesia

TVS Motor Company on Wednesday announced it is extending collaboration with Singapore-based tech startup ION Mobility for its entry in the sports scooter segment in Indonesia. The entry will be through Project Dynamo, ION Mobility's conceptual adaptation of TVS Motor's premium flagship crossover electric two-wheeler TVS X. The two partners will deepen their collaboration through Project Dynamo, which began in February 2023 after TVS Motor led ION Mobility's USD 18.7-million Series A funding as a strategic investor. "After successfully introducing its M1-S electric motorcycle, ION Mobility will enter the sports scooter market segment by unveiling Project Dynamo at the Indonesia Motorcycle Show," TVS Motor said in a release. The five-day Indonesia Motorcycle Show (IMOS) commences on Wednesday in Jakarta. Through this project, ION aims to capture the needs of Indonesian riders who prioritise performance and speed while improving upon the advantages of efficient and environment-friend

Servotech Power, EMCOR to set up 1,000 EV charging stations in India

Servotech Power Systems and EMCOR Power Solutions have entered into an agreement to develop 1,000 EV charging stations at various locations in India. EMCOR Power Solutions is part of Kuwait-based EMCOR International which is in the business of oil and gas, Servotech Power Systems said in a statement on Thursday. "Under the memorandum of understanding (MoU), EMCOR Power Solutions commits to provide 1,000 charging power operators (CPO) sites in India. These sites will serve as the foundation for the installation of EV chargers, as outlined by the agreement," the statement said. Servotech Power Systems will manufacture and install 30kW to 60kW and higher capacity DC fast EV chargers to cater to the varying power requirements. The project will be executed in a phased manner. Initially, 100 DC fast EV chargers will be installed at different locations in South India and later scaled up to other parts of the country. Raman Bhatia, MD of Servotech Power Systems said the MoU aims to accele

VinFast Auto earmarks $200 mn for assembly units in India, Indonesia

Vietnam's electric car maker VinFast Auto on Thursday said it is planning to invest up to USD 200 million (nearly Rs 1,665 crore) to set up assembly units in India and Indonesia with production expected to commence by 2026. VinFast, a competitor of American electric carmaker Tesla, "is aiming to access the tremendous potential for increased EV adoption in India and Indonesia where EV penetration is currently only 1 per cent", the company said, citing media reports in its third quarter earnings statement. "The establishment of VinFast facilities in these local markets can provide access to government incentives for local manufacturing, relief from certain tariffs and taxes and access to raw materials at attractive rates," it said. Each CKD (completely knocked down) facility in "Indonesia and India has a planned total capacity of up to 50,000 cars per year and an estimated total capital expenditure of USD 150-200 million in phase 1", the company said, adding, "Production is expected t

GreenCell, SCB ink green financing deal for Surat E-Mobility project

Electric mobility player GreenCell Mobility on Thursday said it has signed a green financing deal with Standard Chartered Bank for its Rs 125-crore Surat E-Mobility project. Surat E-Mobility project consists of 150 electric buses in Gujarat and aims to reduce 1 lakh tonne of CO2 emissions over the project lifetime, the company said in a statement. "GreenCell has availed green loan by the leading global bank, Standard Chartered Bank, in a significant move to step up our efforts towards transforming India's electric transportation landscape. "The green financing secured for our project will not only boost our operations but also reaffirm our leadership in the e-mobility sector in India," GreenCell Mobility CEO and Managing Director Devndra Chawla said. The company claimed that this is the first green loan project finance facility for an e-mobility project in India and globally by the Standard Chartered Bank. "We are delighted to support GreenCell Mobility on this landmark financing,