Page 20 - Electric Vehicles In India

SMEV offers last ditch solution to government to resolve fame 2 issue

First suggestion, if accepted, would ensure that problems arising from the pandemic or other factors would no longer be considered violative, necessitating the repayment of subsidies to the government

Revolt Motors launches limited edition RV400 electric motorcycle: Details

The limited edition RV400 is available in stealth black colour and comes with high-end golden upside-down front forks

Adani TotalEnergies partners with Evera Cabs for developing charging hubs

Adani TotalEnergies E-Mobility Limited (ATEL) will set up EV charging infrastructure with all-electric cab aggregator, Prakriti E-Mobility (Evera), the company said on Tuesday. "The collaboration will feature an integration of 200 EV charging points super hub in Delhi. This strategic partnership will be scaled up pan-India to encourage decarbonized mobility," it said in a statement. Adani TotalEnergies E-Mobility Limited (ATEL) is a wholly-owned subsidiary of Adani Total Gas Limited, the equal joint venture of Adani Group and French energy giant TotalEnergies. ATEL is setting up EV charging ecosystem with a wide range of charging points catering to B2C and B2B customers. The partnership with Evera comes at a time of rising EV demand, though charging infrastructure still remains scant. It will "help catalyse India's 2030 decarbonization target, supported by a rising inclination towards electric vehicles in the cab-hailing segment," the statement said. ATEL and Evera hope to bridge

Godawari Electric Motors lines up Rs 100 cr over 3 yrs for biz expansion

Godawari Electric Motors on Tuesday said it plans to invest Rs 100 crore over the next three years to develop new electric products and bolster its sales infrastructure across the country. The Raipur-based firm on Tuesday forayed into the electric two-wheeler segment with the launch of Eblu Feo tagged at Rs 99,999 lakh. "We have invested around Rs 100 crore on the business so far. Over the next three years we plan to invest another Rs 100 crore on new product development, enhancing quality and expansion of sales infrastructure, " Godawari Electric Motors CEO Hyder Khan told PTI. He noted that with the launch of the Eblu Feo, the company now also plans to ramp up its sales network across the country. "Wth the new product on the road, we will go all out now and will have 50 dealers by September-end. By the end of this fiscal we aim to have 100 dealers," Khan said. Godawari Electric Motors can produce around 4,000 e-scooter units per month at its Raipur plant, he noted. By the end o

Porsche expects around 80% sales in India from EVs by 2030: Senior official

German luxury sports car maker Porsche AG expects around 80 per cent of its sales in India to come from fully electrified vehicles by 2030 and is lining up three such new vehicles to be introduced here early next year, a senior company official said on Tuesday. The company, which sells a range of luxury sports cars and SUVs priced between Rs 88 lakh and Rs 4.26 crore, is targeting GenZ customers, start-up entrepreneurs and women as it seeks to strengthen brand presence in India, Porsche AG Executive Board Member for Sales and Marketing Detlev von Platen told PTI in an interview. Porsche, however, has no plans in the short to medium term to locally assemble its vehicles in India, as it is focusing on establishing and strengthening the brand in India. "We announced that we want to be net carbon neutral by 2030. So, coming from a car manufacturer, which is more sporty-oriented, it was interesting to hear (that). By 2025, 50 per cent of our cars will be electrified, and by 2030, we expe

Ather Energy to make net profit in 24 months, plans to raise more funds

The company is raising funds to help set up a new factory and strengthen R&D

Mercedes-Benz India expects EVs to contribute 25% of its car sales in 3-yrs

: Betting big on the growing electric vehicle market in India, luxury car maker Mercedes-Benz is expecting its EV portfolio (present and future) to make up 25 per cent of its total car sales in the next three years, growing from the current levels of three to four per cent. Mercedes-Benz on Thursday launched the GLC, its new petrol/diesel SUV, in Hyderabad. Managing Director and CEO of Mercedes-Benz India Santosh Iyer said the automaker is planning to launch three to four EVs in the coming 12 to 18 months in India. For India as well we feel that there would be a rapid adoption as and when new cars launch, and at this stage we are looking at three to four new EVs in the next 12 to 18 months time. So, slowly but surely we should increase penetration. And in the next three years we feel that 25 per cent of our sales would be EVs in India as well, Iyer told PTI. According to him, it would be easier for Mercedes-Benz car users to adopt electric vehicles as most of them already have ...

Top four electric two-wheeler makers give refund of Rs 10 crore to buyers

An investigation by the Centre found that some electric two-wheeler manufacturers were billing their charger separately to their electric scooters to cut the reported sale price of their products

M&M expects to produce 200K EVs from upcoming Chakan plant by 2029: Nakra

Mahindra & Mahindra expects electric vehicle production at its upcoming plant in Chakan in Maharashtra to hit peak production mark of 2 lakh units per annum between 2027 and 2029, according to company President -Automotive Sector Veejay Nakra. The company estimates that EVs would account for 30 per cent of the overall volumes by 2030. In January this year, the auto major received an approval from the Maharashtra government to set up a Rs 10,000-crore electric vehicle plant in Chakan near Pune. The company, through its subsidiary, will make this investment over a period of 7-8 years for setting up the manufacturing facility, development and production of its upcoming Born Electric (BE) models. "We are looking at doing a number of 2 lakh units (at Chakan plant) between 2027 and 2029," Nakra said here. The first product under the BE range is expected to hit the markets by end of next year and the production at Chakan plant is expected to begin 4-5 months prior to that, he ...

Top headlines: EV sales could rise 1 mn in 5 yrs, Kharif sowing over

Business Standard brings you the top headlines at this hour

Tata Motors leads Indian EV market with a market share of 72%: Canalys

The sales of EVs in India jumped 137 per cent to 48,000 units in HICY23 as compared to H1CY22

Govt to unveil Rs 4,126 crore 'payment security fund' for e-buses

Industry experts view this step as a positive direction, addressing not only the struggling state of STUs but also the high costs associated with acquiring e-buses and the operational risks

Tata Motors to bolster sales infra as it looks to tap demand for EVs

Tata Motors is looking to expand sales outlets in Tier II and Tier III cities in order to cater to the increased demand for its electric model range from such locations, according to a top company executive. The company, which ended the first quarter with sales of around 19,000 electric vehicle units, is also looking to have a separate sales infrastructure for its electric vehicle portfolio going ahead. In an analyst call, Tata Motors Passenger Vehicles Managing Director Shailesh Chandra noted that EV adoption is now growing beyond the top 20 cities in the country. "With the bias now moving to other parts of the country...that's a good sign in terms of how the EV sales will grow from here," he said. With the launch of Tiago EV, there has been a shift in terms of micro markets now, Chandra said. He noted that more than 49 per cent of the Tiago EV sales were now coming in from other than the top 20 cities, he added. "And therefore, we have taken that opportunity to really start ...

Pawan Munjal-backed Exponent unveils 15-minute charging tech for EVs

The energy-tech startup plans to expand operations to five new cities by the end of FY '24 and is targeting to deploy 1,000 e^pumps and 25,000 EVs powered by Exponent, by 2025

Startup Exponent Energy aims to power 25,000 electric vehicles by 2025

Energy tech startup Exponent Energy is aiming to power 25,000 electric vehicles by 2025 as it displayed its proprietary energy stack comprising battery pack, charging station and charging connector in Bengaluru on Monday. The company, in a statement, said it is looking to expand its operations to Delhi NCR, Mumbai, Hyderabad, Chennai and Ahmedabad by the end of this fiscal and is targeting to deploy 1,000 charging stations and 25,000 EVs powered by Exponent, by 2025. Exponent said its energy stack together unlocks a 15-minute rapid charge, and long battery life (3,000 cycle life warranty, 3 times the industry standard) - all done on regular LFP cells for the first time in the industry. Rapid charging kills range anxiety and the need for expensive, oversized battery packs, it said, adding that with this two-sided approach, EVs powered by exponent will be 30 per cent more affordable, which has been made possible by an optimised battery capacity (30 per cent smaller), and 5-year ...

Customers be asked to refund rebate on EV purchases amid subsidy revocation

Facing heat over alleged misuse of subsidies, a grouping of seven electric two-wheeler makers on Friday urged the government to look at the possibility of asking customers to pay back excess rebate availed by them on purchase of the vehicles. In a letter to Minister of Heavy Industries M N Pandey, the Society of Manufacturers of Electric Vehicles (SMEV) said the customers who have taken such subsidies can be asked to return these to the affected OEMs. The Centre has sought Rs 469 crore from seven electric two-wheeler makers, including Hero Electric and Okinawa for claiming incentives while not complying with the Faster Adoption and Manufacturing of Electric Vehicles (FAME) II scheme norms. "This is about the subsidies your department has claimed back from OEMs on retrospective basis: And this also holds for the Rs 1,200 crores that the OEMs claim remains un-reimbursed," Society of Manufacturers of Electric Vehicles (SMEV) Chief Evangelist Sanjay Kaul said in the letter. SMEV has ..

PMI Electro Mobility signs pact with REC for Rs 480 cr financial assistance

Electric commercial vehicles manufacturer PMI Electro Mobility on Saturday said it has signed an agreement with public-sector enterprise REC Limited to provide finance for its commercial EVs. PMI Electro Mobility MD Satish Jain said the signing of the memorandum of understanding (MoU) took place during the "Green Finance" Summit organised by REC Limited (formerly Rural Electrification Corporation) on the sidelines of the Clean Energy Ministerial and Energy Transition Working Group Ministerial meeting, which culminated on Saturday. As a part of the MoU, PMI will have the ability to avail Rs 480 crore of financial assistance from REC in the form of debt for funding requirements. The "Green Finance" Summit hosted by REC Limited, in conjunction with the Indian Government's G20 Presidency, presented a unique platform for industry leaders, policymakers and stakeholders to collaborate and forge meaningful partnerships that advance the nation's transition towards clean energy and green ...

Lexus set to foray into used car biz; roll out first EV in India by 2025

Luxury carmaker Lexus from next year is looking to foray into the used car business in India, having now completed six years in the market, according to a top company official. The Japanese carmaker, which currently sells its product range through 23 touch points, aims to transition some of the sales outlets to also cater to the pre-owned car vertical. Known for its self-charging hybrid cars, Lexus is now gearing up to roll out its first electric model in the country by 2025. In an interaction with PTI, Lexus India President Naveen Soni said the automaker is now seriously considering the introduction of a structured pre-owned car programme. He noted that the company will initiate the programme in select outlets after taking into account the business viability of the dealer partner. "So I think very soon, by the third quarter or maybe next year beginning, I should say," he stated when asked about the timeframe the company was looking to get into the used car segment. Soni stated t

US EV startup Fisker announces India debut with an SUV of 563 km range

Fisker is set to make its debut in India in September 2023. It will sell only 100 units initially, and the company will also set up a manufacturing unit in India in the upcoming years

Ola Electric founder Bhavish advances plan for IPO as e-scooters take off

The company, whose backers include SoftBank Group Corp. and Tiger Global Management, has become leader in India's electric-scooter market with a 38% share