Page 2 - Electric Vehicles Sales

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

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 ...

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

Workers at BYD construction site victims of human trafficking: Brazil

BYD and contractor Jinjiang Group have agreed to assist and house the 163 workers in hotels until a deal to end their contracts is reached, Brazil's Labour Prosecutor's Office said

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

China leads global EV sales as it hits third consecutive record high

China continued to lead sales growth, accounting for almost 70 per cent of total EV sales in the month, while registrations in Europe showed a marginal decline