Page 26 - Electric Vehicles

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

EV major Ola Electric lays off over 1,000 employees amid mounting losses

SoftBank-backed Ola Electric has laid off over 1,000 employees as part of a restructuring move to cut costs and improve margins, even as it struggles with mounting losses and rising competition

Here's why Chinese EV makers are facing reality check in Southeast Asia

While Southeast Asia's upwardly mobile population may aspire to own EVs, the still-pricey cars are beyond the reach of many

Luxury cars, electric vehicles hit fast lane in the South as demand rises

In 2024 alone, South India saw the highest rise in sales in the luxury segment, with Tamil Nadu reportedly registering a 19.3 per cent increase in premium car registrations from 2022-23

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

Ola Electric sells 25,000 units in February, retains 28% market share

The electric vehicle (EV) maker said this was backed by a strong S1 portfolio and a sales-and-service network of 4,000 stores across the country

Tesla will find it hard to compete with Tata, Mahindra EVs: Amitabh Kant

Tesla will find it hard to compete with Tata, Mahindra EVs: Amitabh Kant

Tesla sales crash in Europe, dropping 45% in Jan as EV competition heats up

Billionaire Elon Musk's increasing involvement in US politics and controversial stance on European leaders may have also attributed to the fall in Tesla sales

Euler Motors joins hands with Tata Power Renewables for fast chargers

Electric commercial vehicle maker Euler Motors on Monday said it has tied up with Tata Power Renewables for fast chargers. As per the long-term Memorandum of Understanding (MoU), Tata Power Renewables will provide fast chargers for the customers of Euler Motors, the company said in a statement. With this, Euler Motors customers will be able to access fast chargers at important high demand locations along their daily routes, it added. The company customers will receive smart cards, allowing seamless and easy access to Tata Power Renewables charging stations, Euler Motors stated. Through this MoU, Tata Power Renewables will install, operate, and maintain fast chargers, ensuring high uptime and reliability, while Euler Motors will facilitate rent-free spaces for Tata Power's chargers, reinforcing the mutual commitment to advancing India's EV ecosystem, it said. "Charging infrastructure is a key ingredient to enable EV adoption, and fast charging is a customer preference as it enables

Tesla entry not a major threat to electric vehicle OEMs, says CLSA

Even if Tesla launches a BEV at $25,000, CLSA feels that features and specifications would be 'meaningfully compromised' compared to its traditional models

Tesla, other cos welcome to invest, manufacture in India, says Piyush Goyal

India welcomes Tesla and also all the other global companies which want to invest and manufacture in the country, Union Minister Piyush Goyal said on Saturday. Replying to a question on Elon Musk-promoted EV maker Tesla's speculated entry into India, Goyal said the American company is welcome to set up a presence in India. It is the give and take which creates mutually beneficial partnerships, the minister said, making it clear that India is not anti-imports. "We welcome Tesla and also all the other global companies who want to invest and manufacture in India," Goyal said. The minister also said that construction activity and vehicle exhaust are the prime reasons for pollution in cities. He assured that the government is committed to reducing pollution, citing efforts like encouraging usage of electric vehicles as a step in the same direction. "In cities, the main reason for pollution is construction and vehicular pollution," Goyal, who handles the Commerce portfolio, said. Switch

Kinetic's EV component biz will be up to Rs 1.5K cr in 4 years: Firodia

Firodia talked about his plans for the EV-components business, and the components business at large for the group