Page 23 - Electric Vehicles In India

Independent houses, charging infra boosting EV popularity in non-metros

25 per cent of Tata Tiago EV buyers are first-time buyers and include customers from states such as Bihar, Madhya Pradesh, Uttar Pradesh, and Andhra Pradesh

Electric vehicle adoption levels in India to see exponential growth: Report

The growth in electric vehicle sales in India is likely to continue for the rest of the decade, with two and three-wheelers expected to dominate EV sales in the near future, according to a report. The jointly prepared report by KPMG and CII, released on Monday, also said that EV adoption is expected to see an inflexion point once all vehicle segments show significant ownership savings over the vehicles powered by internal combustion engines. The shift to EVs is no longer an uncertainty but only a question of when, the report said. Adoption levels are expected to see exponential growth in future with developing infrastructure, government incentives and the launch of new EV models, KPMG said in a release. Technology is at the forefront of the EV revolution. The shift from ICE to EV has increased the electronics content from 16 per cent to 55 per cent in a vehicle with the addition of new features and controls, it said. Many of these technologies are going to become standard offering

Government incentives to drive EV penetration in India, says Moody's

Government incentives, including those to consumers, local battery manufacturing, state-level subsidies and cut in GST rates would help drive EV penetration in India, Moody's has said. In a report, Moody's Investors Service said India has the fourth-largest car market globally, but electric vehicle (EV) penetration is currently only around 1 per cent. The pace of increase in EV sales and towards the government's target of 30 per cent by 2030 will also depend on the country's charging infrastructure, and consumers' readiness to switch to EVs from traditional ICE vehicles, or those traditional engines powered by petrol, diesel, or natural gas. "We expect various government incentives will drive an increase in EV penetration. These include consumer incentives, production-linked incentives for advanced battery storage to drive local cell manufacturing, goods and services tax (GST) rate cuts, and other state-level subsidies," Moody's said. India has beaten Japan to become the third-larg

Govt catching up, plans to develop infra to assess new-tech vehicles

Latest technology vehicles refers to test vehicles that feature internet-enabled technologies

MG Motor to launch Comet EV in India on April 19; check details here

Comet EV will be one of the most affordable electric cars on the market and is expected to be in direct competition with Tata Tiago EV

Electric vehicle sales cross 1-mn units in India, register growth of 58%

Two-wheelers are the biggest contributors, at 62% of total EV sales in the country

Electric 2-wheeler sales rise over two-and-half fold to 846,976 units: SMEV

Electric two-wheeler sales in India rose over two-and-half fold to 8,46,976 units in 2022-23 over the previous fiscal, Society of Manufacturers of Electric Vehicles said on Monday. Total sales of e-two-wheelers (E2W) were at 3,27,900 units in 2021-22. Citing data sourced from manufacturers, Society of Manufacturers of Electric Vehicles (SMEV) said FY23 saw sales of 1.2 lakh low-speed (LS) e-scooters with top speed less than 25 km/hr. "In the electric two-wheeler segment, the industry sold 7,26,976 high-speed E2W (top speed more than 25km/hr) in FY 2023," it added. In 2021-22, sales of low speed e-scooters were at 75,457 units, while those of high speed e-scooters were at 2,52,443 units. SMEV said in FY23 E2W adoption ended "with an annual shortfall of more than 25 per cent over the minimum target set by Niti Aayog and various research organisations". The industry body said withholding of subsidies under FAME II for not complying with Phased Manufacturing Programme (PMP) guideline

Honda's EV roadmap: Dedicated factory, first two e-scooter models in a year

Capacity of plant in Karnataka would be ramped up in phases to produce one million units by 2030

EV three-wheelers will be popular due to favourable operating economics

Electric three-wheelers are expected to gain traction due to favourable operating economics, and the government's focus on cleaner means of transportation, domestic credit rating agency Icra said on Monday. According to a recent Icra report, the electric segment is likely to account for 14-16 per cent of new three-wheeler sales (excluding rickshaws) by FY2025, up from 8 per cent currently. Penetration is estimated to rise to 35-40 per cent by FY2030 as the product gains more acceptance and financing-related challenges subside, as per the report. Icra said, according to its recent channel check, most e3W dealers have seen double-digit growth in sales in the last two years, owing to various factors, such as lower operating costs, exemptions from registration and road taxes, and higher demand for last mile connectivity. However, while demand for e3Ws (including e-rickshaws) is increasing, sales have been limited by a lack of financing options, with the loans being offered at ...

Mercedes-Benz plans to launch 4 electric vehicles in India in 8-12 months

Mercedes-Benz is the market leader in the luxury car market of India with about 44 per cent share

We want to become No. 1 EV player in India, says Hyundai's Unsoo Kim

"The Indian govt's initiatives on EVs are very strong and customers want to buy EVs. This will make the country's conversion to EVs faster than other markets, and I hope even faster than the US"

Electric two-wheeler maker Kabira Mobility secures $50 million funding

Electric two-wheeler maker Kabira Mobility on Friday said it has secured USD 50 million (around Rs 412 crore) funding from Qatar-based Al-Abdulla Group. The Panjim-based company plans to utilise the capital to fund its future growth in the country. The company plans to ramp up production capacity of its electric bikes KM3000, KM4000, introduce new products and enhance sales infrastructure across the country. The company currently has an installed production capacity of 40,000 units a month at its Dharwad-based plant in Karnataka. In an interaction with PTI, Kabira Mobility CEO Jaibir Siwach said the company has raised USD 50 million through equity sale. The companies, however, did not share the exact details of the deal. Siwach said the production capacity of the Dharwad plant could be enhanced to 60,000 units a month. "We are also looking to set up a new manufacturing facility around Jewar in Uttar Pradesh with an installed capacity of 1.25 lakh units a month," he noted. The p

Stock of this electric bus manufacture has zoomed 68% in 10 trading days

In the past three trading days,Olectra Greentech has rallied 24% after EVEY received two Letter of Awards from the Telangana State Road Transport Corporation for 550 Electric Buses

Centre likely to discontinue second phase of Fame-II scheme after FY24

Instead of the Fame-II scheme, the benefits may be given through the production-linked incentive (PLI) scheme

Foxconn seeks cooperation with India in new areas like EVs, chips

Major Apple Inc supplier Foxconn said on Saturday it was seeking cooperation in India in new areas like chips and electric vehicles (EVs) after a visit to the country by its chairman, Liu Young-way

Low penetration of electric cars in India? Hybrids may be the answer

In India, it's the hybrid market that Maruti Suzuki is understandably targeting

Uber to introduce EVs in India for ride-sharing in push to clean cars

Uber has set a 2040 target for 100% of its rides to be in zero-emission vehicles, public transport or with micro-mobility, including in India

EV manufacturer Greaves Electric eyes first annual net profit in FY25

Company likely to see net losses for FY23 & FY24

Judgement reserved

Too early to celebrate the lithium find

Indian electric scooter maker Ather installs over 1000 fast-charging units

The Ather Grid App allows scooter owners to locate and check the availability of the nearest charging stations in real-time