Page 21 - Electric Vehicles In India

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

Electric two-wheeler firms cut on battery size after FAME subsidy reduced

Portfolio rejig may keep prices low for customers

FAME 3.0: Govt considering a renewed subsidy plan to support EV industry

Companies engaged in the electric two-wheeler industry have been demanding a fresh round of financial support, arguing that a complete withdrawal will kill sales

Mahindra & Mahindra to raise Rs 5,000 crore for its EV business: Report

If the deal goes through, it will be BII's second round of investment in India's biggest sports utility vehicle maker by revenue

EV two-wheeler sales dip 56% in June on FAME-II subsidy cut: Fada

Interestingly, the share of EVs in the overall two-wheeler sales for the month was seen at 3.5 per cent, compared to 7 per cent in May 2023 and 3.6 per cent in June 2022

EKA Mobility bags order for 57 supply of electric buses from MBMC

Electric vehicle maker EKA Mobility on Thursday said it has bagged an order for the supply of 57 e-buses from Mira-Bhayandar Municipal Corporation (MBMC). Now, EKA's order book has grown significantly, with more than 500 electric buses and 5,000 electric light commercial vehicle orders in the pipeline, it said in a statement. According to the company, the deployment of these 57 electric buses is expected to save 33,704 tonnes of CO2 emission in comparison to diesel buses and is equivalent to planting 1,02,134 trees. Sudhir Mehta, Founder & Chairman of EKA, said the order is a significant milestone for the company. "We look forward to commencing the deliveries in the coming months, which will further fortify our partnership with Mira-Bhayandar Municipal Corporation and help in environment-friendly mass mobility for the city of Mumbai," he added. Additionally, these e-buses will be equipped with intelligent charging infrastructure to support efficient operations and minimise ...

Maruti takes an offensive stance in EV space, to launch 6 EVs by 2030-31

So far, Maruti Suzuki has shown little interest in launching electric powertrain vehicles and has advocated hybrid and CNG technology as better alternatives

Magenta Mobility launches EV charger to charge 12 vehicles simultaneously

Magenta Mobility on Tuesday announced the launch of an in-house designed EV charger, which can charge 12 vehicles simultaneously, amid growing demand for such facilities and fast-paced electrification in the automobile industry. The EV charger with 12 charging outputs of 3.3 kW each will help in reducing per-point charging costs for fleet operators and residential societies, the company said in a statement. With charging times ranging from 3 to 3.5 hours, minimal downtime, and competitive pricing, among others, the charger caters to the needs of all types of EVs -- two, three and four-wheelers, it said. "We are introducing PLENT, a multi-charging product meticulously engineered in-house with remarkable features to enhance the EV charging experience while addressing the requirements of the Indian market," said Maxson Lewis, founder and Director of Magenta Mobility. The company said it comes with safety features such as system-level temperature monitoring and power and protection ...

Kia plans to launch 3 new models, including 2 EVs in India by 2025: Par

South Korean automaker Kia plans to launch three new models, including two electric vehicles in India by 2025, expecting 20 per cent of its total sales to come from EVs by 2030. The company, which on Tuesday unveiled the updated version of its flagship SUV Seltos, has set a target of garnering 10 per cent market share in the India passenger vehicles market in the near future, up from around 7 per cent at present, under its Kia 2.0 strategy in the country. "We have a long-term focus on the Indian market. As we already know, the Indian market is a very high potential market, as the number third (largest automotive market in the world)," Kia India Managing Director and CEO, Tae-Jin Park told PTI in an interview here. In order to keep pace with the growth trend in India, he said the company's current model line up is "not enough to maintain our market share". "So, that is why we are thinking about new products for this market that could be happening in 2025 with some ICE (internal ...

Govt's battery swapping policy for EVs faces resistance from industry

Finance Minister Niramala Sitharaman first talked about the battery-swapping plan in her budget speech in February 2022

Electroplating industry pegged at Rs 12,000 cr on back of high EV demand

Backed by the high demand for electric vehicles, batteries, and hydrogen, the electroplating industry in the country is estimated to be at Rs 12,000 crore, a top industry official said. Homi Bhabha National Institute Vice-Chancellor U Kamachi Mudali said the electroplating industry globally was expected to grow to USD 30 billion. The sector has over three lakh electroplaters present across the country, Mudali noted at the fourth edition of Surface and Coating Expo 2023 here organized by Confederation of Indian Industry (CII). "This (surface and coating) industry today is estimated to be about Rs 12,000 crore. Globally, this industry is expected to grow to USD 30 billion 2030 from the current USD 20 billion." Ramik Shah, Director of Ronuk Group, which is engaged in the manufacturing and supplying of metal finishing and plating, said India was poised to grow in the next decade as many electroplating and global companies were setting up shop in India. "To offer and be a world-class .

10% of country's fuel pumps now offer EV charging facilities, IOCL leads

5,600 IOCL pumps offer EV charging facilities which come at about 15 per cent of its total 36,400 fuel pumps across the country

EV plant, battery manufacturing unit to come up in Pune and Aurangabad

Maharashtra Chief Minister Eknath Shinde on Wednesday said an electric vehicle facility and an EV battery manufacturing unit in Pune and Aurangabad, respectively, are among the Rs 40,000 crore worth of projects sanctioned by the state government. Talking to reporters here, Shinde said the EV and battery manufacturing units will come up with an investment of Rs 12,482 crore. He said a private company, Gogora India Pvt Ltd, will set up 12,000 battery swapping stations across the state in the next few years. A battery swapping station is a place where EV owners can quickly exchange their empty battery with a fully charged one. The CM said these projects will provide a boost to the fast-growing EV sector.

Tata Motors expects EVs to be 50% of passenger vehicle sales by 2030

Tata Motors expects electric vehicles to account for half of its passenger vehicle sales by 2030, according to the company's Annual Report for 2022-23. The company, which has set a target to attain net zero emission by 2040, said it is "spearheading this mission with the support of our Gen 3 EV architecture strategy." "The EV contribution in our portfolio is likely to increase to 25 per cent in 5 years and reach 50 per cent by 2030," the report said. The company's current EV portfolio comprises the flagship SUV Nexon EV range, Tiago EV, Tigor EV and the XPRES-T EV. It sold 50,043 units of EVs in 2022-23, while its total passenger vehicle sales stood at 5,40,965 units. Tata Motors said its Tiago EV launched in FY 2022-23 has "accelerated the EV adoption by making it accessible to masses and received strong response with around 10,000 bookings on the first day". Further, the company said, "We unveiled products across the Gen 2 and Gen 3 architecture with the Harrier EV, Sierra EV,