Page 20 - Electric Vehicles

China stockpiling so much oil raises questions despite surge in EVs

China has purchased more than 150 million barrels - costing about $10 billion at current prices - above its actual use so far this year

Tesla Group and SRAM & MRAM to build EV battery gigafactories in India

Battery energy storage systems maker Tesla Group a. s. and SRAM &AM Group, a global leader in technology and sustainable development, have inked a USD 1 billion agreement to set up electric vehicle battery facilities in India and other countries, according to a company official. As per the agreement, a total of five EV battery factories, also called gigafactories, will be set up in India and 15 other countries such as the US, Malaysia, Oman, Brazil, the UAE, and Cambodia, Sailesh L Hiranandani, Chairman of SRAM &AM Group, said in a statement. "The collaboration will create one of the largest battery manufacturing and storage supply chains for electric vehicles (EVs) globally," he added. SRAM &AM Group will lead efforts to secure single-window approvals, grants, subsidies, tax incentives, and local partnerships, while TESLA Group a.s. will oversee the design, engineering, and construction of these cutting-edge facilities to ensure seamless execution, he said. "By combining

From subsidies to surplus: How China's car boom spiralled into oversupply

Inside China's spiralling auto industry crisis is the problem of surplus. Factories are churning out more cars than buyers want, leading to heavy discounts and abandoned vehicles

Simple Energy develops India's first heavy rare earth-free EV motor

Simple Energy has started commercial production of heavy-rare-earth free EV motors, achieving 95 per cent localisation as it eyes a $350 million IPO in FY27

Delhi govt set to release Rs 140 crore EV subsidy dues after HC rap

The Delhi government will soon begin clearing pending electric vehicle (EV) subsidy dues of about Rs 140 crore, officials said on Monday. Transport Minister Pankaj Singh said the department will verify all subsidy applications to address the backlog, which has accumulated over two years. According to an official, the government is also preparing a portal for clearing the pending dues. The development comes in the aftermath of directions by the Delhi High Court. The court on September 3 ordered the Delhi government to take immediate steps to disburse the subsidies promised to customers for buying electric vehicles and said procedural hurdles cannot be used as a pretext to delay payments. A bench comprising Chief Justice Devendra Kumar Upadhayaya and Justice Tushar Rao Gedela noted that the government cannot hide behind the fact that the Delhi Electric Vehicles Policy of 2020 does not prescribe a timeline for disbursing the amount. Officials stated that the order will be followed,

Tata Motors inks pact with 13 EV charging operators to boost infra

Tata Motors on Monday said it is partnering with 13 charging point operators to install and operate 25,000 additional public chargers for electric small commercial vehicles over the next 12 months. The company has signed Memorandum of Understandings (MoUs) with leading charging point operators (CPOs), including A Plus Charge, Ampvolts, chargeMOD, Charge Zone, Electric Fuel, Envo The Sustainer, EV Spot Charge, Kazam, Nikol EV, Sonik Mobility, Thunderplus Solutions, Volttic, and Zeon Electric, Tata Motors said in a statement. The company said that already 25,000 public chargers are available for electric SCVs (small commercial vehicles). All existing and upcoming charger locations will be integrated and visible on Fleet Edge, Tata Motors' connected vehicle platform, providing customers with real-time navigation and availability for seamless access, it added. "This partnership with India's leading Charging Point Operators underscores our dedication to building a robust support network

Ola Electric files PLI claim of Rs 400 crore, boosting financial prospects

Ola Electric has filed a claim of around Rs 400 crore incentive under the government's production-linked incentive (PLI) scheme, reinforcing its compliance with rigorous localisation and regulatory requirements, according to sources. As per industry sources, Ola has filed the claim with eligible sales of about Rs 3,000 crore for FY25, translating into an expected incentive of nearly Rs 400 crore. The incentive, calculated at a rate of 13 to 14 per cent, is expected to significantly strengthen the company's liquidity position and deliver a positive impact on its financial performance in the coming quarters, the sources close to the development said. Notably, Ola was the only two-wheeler Original Equipment Manufacturer (OEM) to receive the PLI incentive last year, marking a significant milestone for the company and the industry. Continuing this momentum, Ola has emerged as the top achiever in PLI-eligible sales in the two-wheeler category for two consecutive years, underscoring its .

TVS Motor, ALT Mobility partner to deploy 3,000 e-three wheelers in FY26

TVS Motor Company on Monday said it has inked a pact with leasing and asset management company ALT Mobility to deploy 3,000 electric three-wheelers this fiscal year. As part of the collaboration, TVS will provide vehicles, while ALT Mobility will procure, lease, and finance them through its ecosystem. The models, variants, and specifications will be jointly finalised to best serve customer needs, and the vehicles will be rolled out through TVS Motor's extensive network of authorised dealers and ALT's point of sales across India, the company said in a statement. The vehicles will be deployed under ALT's drive-to-own leasing model to individual drivers and fleet operators for cargo and passenger transportation, it added. "This collaboration with ALT Mobility is a significant step towards enabling sustainable urban and last-mile mobility at scale," TVS Motor Company Business Head --Commercial Mobility Rajat Gupta said. Anuj Gupta, Co-founder & CBO, ALT Mobility, said partnering with

Hong Kong pitches itself as local assembly base for Chinese EV makers

Hong Kong seeks growth through new industries after economic setbacks from political crackdowns, COVID isolation, and a property slump, weakening its status as a top financial hub

Despite China's assurance, rare-earth magnet supply eludes automakers

Despite China's assurance, Indian automakers are yet to get rare earth supplies, deepening EV and auto component uncertainty

Qcom firms go on an EV drive, but cost, charging infra remain roadblocks

Major delivery platforms commit to adopting EVs for last-mile deliveries, but upfront costs of EV two-wheelers and lack of reliable charging infrastructure remain barriers

India tests alternate EV motors as China tightens rare earth exports

Seven Indian automakers are reviewing the motors, and if cleared, production could begin within a year, well ahead of an initial 2029 target

Policymaking lags industry pace, says VinFast Asia CEO Pham Sanh Chau

VinFast CEO Pham Sanh Chau said India's EV policy was notified after the firm had begun production, leaving it ineligible despite investments since March 2024

MP first state to frame EV policy, says CM on eve of World EV Day

Madhya Pradesh is the first state in the country to formulate an electric vehicle policy and it is ready to represent the future of electric vehicle transportation, Chief Minister Mohan Yadav said on Monday. It is the priority of the state to achieve the country's electric vehicle manufacturing targets as part of the global mandate to fight climate change under the leadership of Prime Minister Narendra Modi, he added. On the eve of World EV Day, he asked people to reduce carbon emissions through the use of clean energy. World EV Day is an annual global event celebrated on September 9 to raise awareness and promote the adoption of electric vehicles. "The state is getting ready to represent the future of electric vehicle transportation. Madhya Pradesh is the first state in the country to formulate an electric vehicle policy. Achieving the country's electric vehicle manufacturing targets under the global mandate to fight climate change and the leadership of Prime Minister Narendra Modi

VinFast enters India with VF6, VF7 electric SUVs: Check price, specs

Vietnam's VinFast debuts in India with two electric SUVs, VF6 and VF7, while also unveiling plans for e-buses, two-wheelers, charging stations, and smart cities

EV makers relieved as GST Council retains 5% tax on electric cars

The GST Council's decision to retain the 5% tax rate on electric vehicles (EVs) reassures manufacturers, but competition from small petrol and diesel cars with lower taxes looms

₹950 crore subsidy to boost EV adoption, infra expansion in Uttar Pradesh

The state registered sales of about 370,000 electric vehicles in FY25, ahead of Maharashtra (240,000), Karnataka (170,000) and Tamil Nadu (132,000)

VECV, Jio-bp Pulse ink pact to boost EV charging infra for trucks, buses

VE Commercial Vehicles (VECV), a joint venture of Volvo Group and Eicher Motors, has signed an initial pact with Jio-bp pulse to expand and streamline charging access for its electric commercial vehicle customers. Through this collaboration, all Eicher Trucks and buses' EV customers will gain seamless access to Jio-bp's network of over 6,000 charging points, India's largest DC fast-charging footprint, across urban centres, highways, and purpose-built EV hubs capable of accommodating all types of commercial vehicles, a statement said. According to the statement, VECV signed a memorandum of understanding (MoU) with Jio-bp pulse to expand and streamline charging access for VECV's electric commercial vehicle customers. Jio-bp, a fuel retail joint venture of Reliance Industries and bp, which operates under the brand name of Jio-bp pulse in the electric mobility space, has established one of the largest and fastest-growing EV charging networks in India. Under the MoU, both companies will

HC directs Delhi govt to disburse subsidies promised to EV buyers

The Delhi High Court on Wednesday ordered the Delhi government to take immediate steps to disburse the subsidies promised to customers for buying electric vehicles and said procedural hurdles cannot be used as a pretext to delay payments. A bench of Chief Justice Devendra Kumar Upadhayaya and Justice Tushar Rao Gedela noted the government cannot hide behind the fact that the Delhi Electric Vehicles Policy of 2020 does not prescribe any timeline to disburse the amount. "The government is taking shield of the fact that the Delhi Electric Vehicles Policy does not provide any fixed timeline for disbursal of subsidy. Such a ground, in our opinion, is not available for the government," it said. The bench noted that the government had funds but it was delaying disbursal owing to procedural issues. It directed the transport department of the Delhi government to expeditiously set up a dedicated bank account for the disbursal of the subsidy amount and ensure subsidies were released to eligib

Delhi HC directs govt to clear pending EV subsidies, raps delay in payments

The Delhi High Court has ordered the government to quickly release pending EV subsidies; buyers have been waiting as procedural delays held back over ₹48 crore in payments