Page 24 - Electric Vehicles

Focusing to scale up business sustainably, says Ather CEO Tarun Mehta

Speaking on the sidelines of TiECon, Mehta stated that Ather's focus remains on scaling its business, as the company is bullish on expanding its market beyond South India

Ola Electric eyes Ebitda breakeven in automotive by Q1FY26; stock up 3%

Ola Electric share rose after the company's announcement that it expects Ebitda breakeven in its Automotive segment by Q1FY26, with full financial benefits from recent initiatives expected by April'25

Sustainability Summit: Swiggy to drive all-electric fleet by 2030

On an annual basis, the company aims to reduce perishable waste in direct operations by 25 per cent and decrease adverse incidents by 10 per cent

Raptee launches electric motorcycle with 4-wheeler charging compatibility

The company expects to reach $25 million in first-year sales, supported by growing demand for premium electric motorcycles and increasing availability of fast-charging options

India's e-bus sales likely to grow 3.6-fold in FY27, projects CareEdge

In India, the e-bus sector is still in its early stage, representing just 4 per cent of total annual bus registrations in FY24

Uber partners with Refex Green Mobility to deploy 1,000 EVs by 2026

Ride-hailing app Uber on Tuesday said it has tied up with Refex Green Mobility to deploy 1,000 electric vehicles across key cities by 2026, furthering its efforts to boost electric vehicles on its platform. The collaboration aligns with Uber's global objective of providing 100 per cent emission-free rides by 2040, the company said in a statement. The deployment will see electric four-wheelers onboarded onto the Uber platform across Chennai, Hyderabad, Bengaluru, and Mumbai, it added. "Uber is committed to accelerating the shift to zero-emission mobility in India, and this partnership with Refex eVeelz is a significant step in that direction," said Aditya Kapoor, Head, Supply and Electrification, Uber India and South Asia. The company remains focused on removing barriers to EV adoption and driving the transition to a greener future through partnerships to build a sustainable future for all, he added. "This collaboration, in addition to our currently existing B2B as well as B2C ...

Elon Musk's Tesla is flailing in China and BYD's rapid rise is to blame

Elon Musk's automaker has been backsliding in China for the past five consecutive months on a year-on-year basis, according to data from the country's Passenger Car Association

Maharashtra govt proposes 6% tax on EVs costing more than Rs 30 lakh

The Maharashtra government on Monday proposed a 6 per cent tax on electric vehicles priced more than Rs 30 lakh in the budget for the fiscal 2025-26. Deputy Chief Minister Ajit Pawar, who also holds the finance portfolio, tabled the budget and announced a 1 per cent hike in the Motor Vehicle Tax on CNG and LPG vehicles. The government has also proposed a 7 per cent tax on vehicles used for construction activities, which will generate additional revenue of approximately Rs 180 crore. The state government has proposed a 6 per cent tax on electric vehicles above Rs 30 lakh and a 1 per cent tax hike on individual-owned non-transport four-wheeler CNG and LPG vehicles. The move will generate an additional revenue of approximately Rs 150 crore in 2025-26. Pawar also announced a 7 per cent tax on light goods vehicles (LGVs) carrying goods up to 7,500 kg, which will earn the state Rs 625 crore. The government has also increased the maximum limit of the Motor Vehicles Tax from Rs 20 lakh t

JSW group to raise Rs 1,487 crore for setting up EV unit in Maharashtra

The automotive facility is expected to have a capacity to make 10,000 e-buses and 5,000 e-trucks per annum

Ultraviolette may invest up to $100 mn in 4 yrs, eyes 100k annual sales

Premium electric two-wheeler maker Ultraviolette plans to invest up to USD 100 million (nearly Rs 870 crore) in the next three to four years to fuel growth, including expansion of product portfolio, manufacturing and network, according to its founders. The company, which announced plans to bring ten new products, including scooters and long-range cruiser bikes, in the next three years, is targetting annual sales of 1 lakh units in this period, with presence not just in India but also in Europe and South East Asia, Ultraviolette CEO & Co-founder Narayan Subramaniam, and CTO & Co-founder Niraj Rajmohan told PTI. Rajmohan said the company has already made investments on R&D to build the fundamental building blocks, including charging systems, battery systems, motor control and vehicle control electronics, smart connected systems and advanced sensing systems. "We are in discussions from a larger investment point of view in the order of the USD 70-100 million that is meant to ..

Electric vehicle sales down 1.9% in February due to challenges: Fada

While all four categories of EVs registered double-digit M-o-M declines in sales, three-wheeler, commercial, and passenger vehicles saw single-digit Y-o-Y growth

Toyota launches its cheapest smart EV in China in bid to boost market share

Toyota and its Chinese partner, state-owned Guangzhou Automobile Group (GAC), had first unveiled the car at an autoshow in Beijing last year

Ola Electric becomes first 2W EV manufacturer to bag PLI incentives

Ola Electric, India's largest electric vehicle company, has achieved a significant milestone by becoming the first two-wheeler automotive electric vehicle (EV) manufacturer in India to receive incentives under the Production Linked Incentive (PLI) Scheme for Automotive and Auto Component (PLI-Auto Scheme). The company has been granted a total incentive of Rs 73.74 crore for the Determined Sales Value of FY 2023-24 under the scheme, according to a stock exchange filing by the company. The PLI-Auto Scheme, launched by the Government of India, aims to boost domestic manufacturing in the automotive sector and promote the adoption of advanced, clean, and sustainable mobility solutions. Ola Electric's eligibility for the incentive underscores its leadership in India's EV revolution and its commitment to developing a robust local manufacturing ecosystem. "We wish to inform you that, Ola Electric Technologies Private Limited, a wholly-owned subsidiary of Ola Electric Mobility Limited, has

Tesla signs 5-yr lease for Mumbai showroom, to start EV sales in 2025

The rent will increase by 5 per cent every year reaching about $542,000 for the fifth year, according to the registered lease document

Ultraviolette hits the gas, to come out with 10 new e 2-wheelers in 3 years

At present they can make 10,000 two-wheelers a year, easily scalable up to 30,000 units a year in three shifts

Ultraviolette plans to introduce 10 new electric two-wheelers in 3 years

Electric premium motorcycle maker Ultraviolette plans to bring 10 new products, including scooters and long-range cruiser bikes, in the next three years as it looks to accelerate market presence, company CEO and Co-founder Narayan Subramaniam said on Wednesday. The company, which unveiled its first electric scooter 'Tesseract' along with new lightweight electric motorcycle 'Shockwave' here, is also looking at bringing 'multi-terrain bikes' in future. As part of its new product plans, Ultraviolette, in which TVS Motor Co is an investor, plans a new bike under its existing F series of performance bikes, two more scooters under the S series under which Tesseract will be introduced besides two more lightweight bikes under the L Series along with 'Shockwave'. Electric scooter Tesseract comes at an introductory price of Rs 1.2 lakh for the first 10,000 units after which it will be sold at Rs 1.45 lakh while its e-bike 'Shockwave' comes at an introductory price of Rs 1,49,999 for the first

India key to Hyundai's 2 mn global EV sales target by 2030: CEO Jose Munoz

India will play an important role in achieving Hyundai Motor Company's aim of selling 20 lakh electric vehicles globally by 2030, according to its president and CEO Joss Munoz. In a town hall meeting with Hyundai Motor India employees at the Gurugram office, he said the South Korean automaker plans to strengthen its electric vehicle portfolio in India. With Hyundai Motor Company's (HMC) target to sell 2 million EVs by 2030 globally, India will play an important role in achieving this milestone, he added. He noted that HMIL is dedicated to making EVs more accessible and suited to Indian consumers' needs, aligning with the country's push for green and eco-friendly mobility solutions. HMC will continue to support HMIL to expand its EV offering and invest in the necessary infrastructure to support this shift. Hyundai Motor India Ltd (HMIL) is the third-largest market in Hyundai's global operations, Munoz stated. HMIL's IPO has helped HMC to invest and expand in new products and addit

Astranova Mobility targets $1 billion in sustainable transport assets

The future of sustainable mobility will involve multiple technologies, says commercial vehicles operator

Ola Electric likely to lay off over 1,000 employees to reduce losses

The layoff news saw the SoftBank Group-backed firm's stock hit a 52-week low in intraday trading

Jupiter Electric aims ₹100 cr revenue from electric light CV biz in 1st yr

Jupiter Electric Mobility (JEM), the electric vehicle arm of the Jupiter Group, on Monday said it is aiming to achieve Rs 100 crore topline in the first year of operations of its electric light commercial vehicle business as it rolled out its flagship 1.05 ton e-commercial vehicle Tez. The company, which also announced the launch of its manufacturing facility at Pithampur (Indore) designed to produce 8,000-10,000 vehicles annually, also said it expects to sell 400 such eLCVs in the first year of the launch. The vehicle is priced at Rs 10.35-lakh (ex-showroom). "We had the necessary infrastructure in place. So the idea was that we wanted to build a vehicle which would contemplate our existing infrastructure and bring synergies to the business. The idea was always to launch an electric vehicle because the motto of our group is sustainability and all our products are also focussed around sustainability," said Vivek Lohia, Managing Director, Jupiter Group. Lohia said that the company h