Page 8 - Electric Vehicles In India

BYD to keep focus on launching EVs in Rs 25-45 lakh range: India Head

Chinese EV manufacturer unveiled Sealion 7 for Indian market at Bharat Mobility Global Expo

Price parity with ICE-run cars important for EV boom: Kia's Hardeep Brar

About 99,165 electric cars were sold in India in 2024, recording 20 per cent year-on-year growth, according to FADA

Electric vehicle sales in India crossed 1.4 mn units in 2024: Kumaraswamy

Electric vehicle sales in India crossed 14.08 lakh units in 2024, achieving a market penetration rate of 5.59 per cent, up from 4.44 per cent in the previous year, Union Minister H D Kumaraswamy said on Saturday. The minister asserted that the upward trend in EV adoption underscores the growing public trust in electric vehicles, as well as the positive impact of government incentives and industry innovation. "Total EV sales in calendar year 2024 reached 14,08,245 - a penetration of 5.59 per cent, up from 10,22,994 in calendar year 2023, which stood at 4.44 per cent," the minister for Heavy Industries and Steel said at a Federation of Automobile Dealers Association (FADA) event here. He observed that despite global uncertainties, the country's automotive sector has continued on a growth trajectory. "In the calendar year 2024, the industry collectively retailed 26.1 million vehicles, marking a robust 9 per cent year-on-year increase," Kumaraswamy said. Talking about the Production

Tesla rival VinFast lines up premium SUVs VF 7 & VF 6 for Indian market

These two models are expected to meet the electrification needs of consumers and set a new benchmark in the green transportation industry in India

Vietnam's VinFast to launch 2 premium electric SUVs in India in 2025

Vietnam's electric vehicle maker VinFast Auto on Saturday said its two electric SUVs -- VF 7 and VF 6 -- will hit the Indian market later this year to mark its foray into the country, which it says has a huge growth potential. The company, which is investing USD 500 million to set up its manufacturing plant at Tuticorin in Tamil Nadu, expects completion of the facility in the second half of 2025 after which it will launch the products. It is also in talks with the government for its investment in India to be considered for incentives under the new EV policy and is looking to export EVs produced in India to the Middle East and African markets. "We hope that it (Tuticorin plant) will be completed by the end of H1 or H2 beginning of 2025, then we can launch our cars," VinFast Asia CEO Pham Sanh Chau said here in an interaction. "This year, we will launch two products," he said when asked about the product launch plans of the company in India. Stressing that the premium SUVs VF 7 and

Future of mobility belongs to India, PM Narendra Modi tells auto majors

Bharat Mobility Expo 2025 kicks off: PM says EV sales likely to grow eightfold by the decade's end

Interest for electric vehicles from Tier-II,- III cities surprising: M&M

M&M launched the BE 6e at a starting price of Rs 18.9 lakh (ex-showroom), as well as the XEV 9e at a starting price of Rs 21.9 lakh (ex-showroom), in November last year

Maruti plans fast charging boost, battery rentals at India auto show

Maruti is also considering battery rental services as a solution to address what many experts view as a pain point that hinders EV adoption in India

India to become EV production hub, aims for small electric cars: Suzuki

Japan's Suzuki Motor Corporation plans to enter the electric small car segment in future after gathering experience from its first EV, SUV e VITARA which will make its global debut in India which will be the company's production hub, its Representative Director and President Toshihiro Suzuki said on Thursday. The Japanese carmaker also believes that despite declining sales, small cars will not cease to exist in India, where its subsidiary Maruti Suzuki India is the market leader, as "one billion people" who are likely to upgrade from two-wheelers to four-wheelers in future would still need affordable cars, Suzuki told reporters here in an interaction. Maruti Suzuki India will unveil the e VITARA on Friday at the Bharat Mobility Global Expo 2025 being held at Bharat Mandapam. "Although we are launching our first EV, e VITARA, my personal feeling is that the compact vehicles will be the best for EVs... (but) I think first one has learn and master properly the manufacturing techniques

Carmakers in India plan EV onslaught in 2025 despite slowing global demand

Electric cars will take centre stage at India's five-day auto show in New Delhi starting Friday with models from new Vietnamese entrant Vinfast shown alongside Maruti Suzuki and Mahindra & Mahindra

Euler Motors secures $20 mn in debt funding from responsAbility Investments

Commercial electric vehicle maker Euler Motors on Wednesday said it has secured up to USD 20 million in debt from responsAbility Investments AG to ramp up production and distribution networks as well enhance research and development capabilities. The fresh capital infusion comes close on the heels of the company closing its Series C funding round, raising an additional Rs 200 crore from investors including British International Investment, Blume Ventures, and Piramal Alternatives India Access Fund, Euler Motors said in a statement. The USD 20 million in debt funding from responsAbility Investments will help accelerate Euler Motors' mission to electrify India's commercial vehicle segment, supporting the growth of the recently-launched four-wheeler Storm EV for logistics and e-commerce clients, it said. "This new funding will boost us to scale further, expand our reach, and continue delivering sustainable, high-performance solutions that meet India's unique logistics needs," said ...

Kinetic Green partners with Yuma Energy to deploy 100K EVs in 4 years

Kinetic Green Energy & Power Solutions on Monday said it has collaborated with battery-as-a-service operator Yuma Energy, for deploying 1 lakh electric vehicles over the next four years to accelerate last-mile e-mobility in the country. The rollout will start from Pune next month with approximately 1,000 E- Luna being offered under the strategic partnership to select fleet operators, the company said. The E-Luna caters to various last-mile delivery applications such as food, groceries, e-commerce and quick commerce delivery. The partnership will then be scaled nationally to 1 lakh electric two-wheelers and three-wheelers in next four years. The company said that as part of the partnership it will integrate its various swap-ready EVs into Yuma Energy's BaaS network to maximise convenience to customers including EV fleet operators and riders while subscribers to Yuma Energy's BaaS network will have access to over 200 existing swapping stations, with more locations being continuously

See acceleration of EV penetration in India in 2025-26: HMIL COO Tarun Garg

Hyundai Motor India Ltd sees a triggering of acceleration in the electrification of the passenger vehicles market in the country in 2025 and 2026, according to company COO Tarun Garg. Set to enter the mass market electric vehicle segment with the EV version of its popular SUV Creta, the company, which plans to bring four EVs in the future, is also looking at different segments, even below the mid-sized SUV segment. "India is at an early stage of electrification. Last year, we ended with about 2.4 per cent electrification. I personally feel that 2025 and 2026 are going to be great trigger points in terms of electrification, and Creta EV is going to drive it," Garg told PTI video here. In 2024, the Indian passenger vehicles segment witnessed record sales of around 43 lakh units. Citing an internal study by the Hyundai Motor India Ltd (HMIL) and also based "on some of the external consultants", he said by 2030 EV penetration could be 17 per cent. In an interaction with reporters he

LICO Materials aims to triple revenue to Rs 100 cr in FY26, says CEO

LICO Materials, a battery recycling and repurposing company, is looking to triple its revenue to over Rs 100 crore in FY26 on the back of growing EV and energy storage demand in India, its CEO Gaurav Dolwani said. "This year, we're expecting about Rs 30 crore...In a commodity upswing, doing the same business, we could probably cross Rs 100 crore," Dolwani said. The company was hoping for a better revenue in the current financial year but the decline in lithium, cobalt, and nickel prices has impacted the numbers, even though the company has hit its desired quantities. Last month, it inaugurated a battery recycling facility in Bengaluru, which has the capacity to process about 17,500 tonne of battery input per annum. LICO Materials, which plans to set up its own downstream chemical facility in two-three years is committing Rs 250 crore for the same. Asked how does the company plan to fund the unit, the CEO said it will be a mix of equity and debt. The company also plans to open anot

EV firms agree to end subsidy after current benefits end: Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Friday said the electric vehicle (EV) companies present in the meeting have unanimously agreed that they would no longer need subsidies once the existing subsidy regime ends. Stakeholders from the EV sector held deliberations with the minister here on issues pertaining to development of battery charging and swapping infrastructure. The minister also said that companies are free to choose their own business models. Whether they prefer to collaborate and share resources for battery swapping or sell vehicles with their own batteries, the decision is entirely up to them, he said. "Everybody was unanimous in the room that once the existing subsidy regime comes to an end, none of them requires the subsidy to grow further...Each sector has one or the other model which makes it self-sustaining and does not call for further subsidies," Goyal told reporters when asked about the views of companies on subsidies. In a bid to woo global EV makers i

Chinese EV makers extend buying incentives as price war enters 3rd year

Li Auto announced on Thursday cash subsidies of 15,000 yuan ($2,055) per car purchase as well as a three-year zero-interest financing scheme

Electric two wheelers, premium bikes set to dominate market in 2025

Honda will kick off January 2025 with the highly anticipated launch of the Activa e: and QC1 electric scooters

Bajaj rises to top in e-scooters with low-cost strategy: Can it stay there?

The two-wheeler giant had only 14 per cent of the electric two-wheeler market in May this year, but its 26.8 per cent in December

EV funding in India drops 37% from 2022 to 2024 amid policy, sales slowdown

The PM-E drive, scheme launched in October, excludes subsidies for electric four-wheelers and hybrid vehicles, significantly impacting equipment manufacturers

Ola Electric Powers Up: Expands to 4,000 stores, share price zooms 6%

The rally in Ola Electric share price came after the company announced that it has expanded its network to 4,000 stores nationwide, registering a four-fold increase from the existing network