Page 2 - Electric Vehicles Sales

Ola Electric shares soar 18% even as Q1 loss widens; Here's why

Ola Electric shares rose over 9 per cent even after the company's net loss widened in the first quarter of the current financial year

Govt launches PM E-Drive scheme with up to ₹9.6 lakh for electric trucks

Union Minister H D Kumaraswamy on Friday launched the first scheme to provide customer facing incentives on purchase of electric trucks of up to Rs 9.6 lakh per vehicle as part of the government's PM E-DRIVE initiative, which has earmarked Rs 500 crore for electric trucks out of its Rs 10,900 crore outlay. Industries including ports, logistics, cement and steel will be the key beneficiaries of the scheme, which envisages support of up to 5,600 electric trucks. "Diesel trucks, though constituting only 3 per cent of the total vehicle population, contribute to 42 per cent of transport-related greenhouse gas emissions and significantly worsen air pollution. This pioneering scheme, guided by the visionary leadership of Prime Minister Narendra Modi, represents India's first dedicated support for electric trucks. It will drive our nation toward sustainable freight mobility, a cleaner future, and the realization of Viksit Bharat by 2047, in alignment with our net-zero emissions goal by 2070,

India's lithium-ion battery demand to reach 115 GWh by 2030: ICEA

EVs to drive India's lithium-ion battery demand to 115 GWh by 2030, ICEA report says, warning of $5 bn import exposure and underutilised recycling capacity

May 2025 auto sales preview: Nomura expects tepid volumes amid supply risks

Analysts at Nomura also flagged a looming production risk starting June, arising from China's export restrictions on rare earth magnets-used across both EV and ICE components.

Strong hybrids and BEVs cater to distinct buyers, says HSBC report

HSBC report says BEVs and strong hybrids are not cannibalising sales in states with dual incentives; both segments are growing independently with new launches

Electric vehicle sales down 17.6% at 167,455 units in April: Fada

Bajaj Auto, Ather Energy, and Hero also recorded double-digit declines in their monthly sales. Only Kinetic Green Energy and Power Solutions reported a rise in their m-o-m e2W sales, up 55.1 per cent

PM E-DRIVE scheme: Centre targets 5-day turnaround for EV subsidy claims

Under the PM E-Drive initiative, MHI offers a subsidy of Rs 5,000 per kWh of battery capacity for e2Ws, capped at Rs 10,000 per vehicle for FY25

Delhi govt may offer up to Rs 36,000 EV subsidy to women under new policy

The Delhi government is likely to provide a subsidy of up to Rs 36,000 on purchase of an electric two-wheeler to women under its proposed Electric Vehicle (EV) Policy 2.0, officials on Friday said. The benefit can be availed by the first 10,000 women, who are holding a driving license, according to the policy draft accessed by PTI. The proposal is under the government's consideration and it will be approved soon. To encourage female participation in the EV shift, the women in Delhi will receive a purchase incentive of Rs 12,000 per kilowatt-hour (kWh), up to Rs 36,000 on electric two-wheelers. Designed to complement the Centre's PM E-DRIVE scheme, the EV Policy 2.0 aims to accelerate electric vehicle adoption across Delhi. The scheme, which will remain valid until March 31, 2030, outlines a series of incentives targeting not just electric two-wheelers but also three-wheelers and commercial vehicles. To boost the adoption of electric two-wheelers in the city, the government may of

BYD to build a plant in India: Can it reshape the car and EV market?

BYD's India entry will spark a new EV battle. Can it outpace local giants and repeat its China triumph over Tesla, or will the competition reshape India's electric mobility landscape?

Indian roads will surpass US quality within two years: Nitin Gadkari

Nitin Gadkari expressed his optimism about India's future in electric vehicle (EV) adoption, predicting that the country will surpass the US in both EV adoption and manufacturing within next 5 years

Hero Electric's bankruptcy: EV pioneer faces insolvency over Rs 301 cr debt

Hero Electric, India's first e-scooter maker, enters insolvency under IBC with Rs 301 crore in admitted claims; bidders invited as creditors decide its fate amid EV market growth

Tata Motors announces special offers on EVs as Tesla prepares India entry

Tata Motors is offering an exchange bonus of up to Rs 50,000, 100 per cent on-road financing with zero down payment, and more

Matel teams up with Honda Power Pack for swappable EV battery solutions

Matel Motion & Energy Solutions on Wednesday said it has partnered with Honda Power Pack Energy India to integrate its ePowertrain with the latter's swappable battery solution. This collaboration aims to provide electric vehicle (EV) manufacturers with swappable battery solutions, Matel Motion & Energy Solutions Pvt Ltd (Matel) said in a statement. "This initiative will play a crucial role in driving EV adoption across India by providing a practical and cost-effective solution for vehicle manufacturers and users alike," Matel Co-founder and Director of Business Development & Partnerships, Netaji Patro said. The introduction of swappable battery technology addresses challenges of range limitations and lengthy charging time, particularly in the commercial segment where operational downtime translates to lost revenue, by enabling users to exchange depleted batteries for fully charged units at designated swapping stations in minutes. Honda's swappable battery, backed by ...

India's EV makers: Here's how they are expanding their charging networks

Government-owned fuel retailers Indian Oil, Bharat Petroleum and Hindustan Petroleum have together installed one of India's largest EV charging networks across at least 18,000 locations

Global EV sales up 18% in January; growth in Europe, US outpaces China

Global sales of fully electric vehicles and plug-in hybrids (PHEV) rose 17.7 per cent year on year to 1.3 million in January, the third consecutive month of slowing growth

M&M Q3 Preview: Profit may zoom up to 22% YoY to Rs 2,981 cr; Ebitda 39%

M&M is expected to report strong performance for Q3FY25, driven by solid growth across its automotive and tractor segments

Tata Motors targets 30% EV sales by 2030 amid intensifying competition

Tata Motors is planning to cover the majority of the segments with its upcoming EVs, targeting 30 per cent of its overall sales to come from EVs by 2030

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

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