Page 30 - Electric Vehicles

Evera Cabs initiates repossession of BluSmart-operated 500 electric cabs

App-based electric taxi service provider Evera Cabs (Prakriti Mobility) on Monday said it has initiated the repossession of 500 electric cabs earlier operated by troubled BluSmart. Already 220 vehicles have been acquired and the remaining 280 are set to be reclaimed in the coming days, Evera Cabs said in a statement. The company is looking to enhance its position as a leading electric cab service provider, with a strong focus on airport mobility, it added. Evera claimed that alongside the fleet integration, "a big chunk of BluSmart drivers" are queuing up to join it with 10 per cent of them being women. Around 150 drivers have started doing trips and recruitment efforts are ongoing to ensure service readiness as the fleet scales up. "What we're executing is not just a scale-up, it is a realignment of the electric mobility narrative in India. As key players recalibrate, Evera is stepping forward with clear intent, absorbing proven EV assets and trusted drivers to ensure uninterrupte

Maruti Suzuki making production lines flexible to roll out ICE, EV models

Maruti Suzuki is making its production capabilities flexible so that more models, including electric vehicles, could roll out from the same manufacturing set-up, according to a senior company official. The country's largest carmaker Maruti Suzuki India is looking to add another 20 lakh units-production capacity by 2030-31 with about 28 different models in the market. Currently, the auto major has a production capability of around 26 lakh units per annum across its manufacturing plants in Haryana and Gujarat. The two plants in Haryana at Gurugram and Manesar roll out around 16 lakh units per annum. The new plant in Kharkhoda has also commenced production. To begin with, the new facility will have an annual production capacity of 2.5 lakh units and produce the compact SUV Brezza. Suzuki Motor Gujarat, a unit of the company, has also set up a facility in Gujarat with an installed production capacity of 7.5 lakh units per year. "In terms of production planning, increasingly we are ma

Tesla chair denies report that EV maker seeks new CEO to replace Musk

Musk said on X the report was a 'deliberately false article'. Activist investors have long accused Tesla's board of lacking independence and failing to rein in Musk

Early EV adopters pull ahead in sales; post twice the sales of latecomers

In FY25 alone, India recorded 1.96 million EV sales, with a penetration rate of 7 per cent, says Gagan Sidhu

Ather Energy IPO manages to scrape through; achieves 1.4x subscription

High net-worth individuals (HNIs) subscribed only 66 per cent, while retail and employee portions fared better at 1.78x and 5.4x, respectively

Ola again makes it to top spot in sales in April; e2W market share at 22.4%

The impact of the government subsidy on escooters, which has been halved to ₹5,000 from April 1, is clearly taking its toll on overall sales of e2Ws

New Maharashtra EV policy aims to strengthen charging infrastructure

With outlay of ₹1,995 cr, state is targeting 30% EV registrations by 2030

Delhi HC orders status quo on 95 more EVs leased to Gensol, BluSmart

Appoints court receiver for upkeep, maintenance of cars, asks Gensol, BluSmart to not interfere

Stake in SML Isuzu, M&M eyes e-bus foray soon, 21% share in LCV bus segment

M&M has entered into an agreement to acquire 58.96% in SML Isuzu for Rs 555 crore

Eka Mobility aims to manufacture 10,000 e-buses annually by FY27

According to Mehta, Eka plans to bring in a new product every six months across its commercial vehicle (CV) segments

Ahead of listing, Ather Energy bullish on driving past rivals in e2W market

The electric scooter maker cited nine-month performance as proof of strength amid rising EV competition

Centre plans to procure 14,028 electric buses in multiple tranches

The Centre has received a demand of 15,400 e-buses from four states (Gujarat, Telangana, Karnataka and Delhi,) of total 7, including around 2,500 from Delhi

Maruti Q4FY25 results: Net profit drops 4.3% amid tepid car sales

MSIL chairman R C Bhargava said that the larger part of the sales growth is being recorded in the rural market

Ather Energy garners Rs 1,340 cr from anchor investors ahead of IPO

Electric two-wheeler maker Ather Energy Ltd on Friday said it has mobilised Rs 1,340 crore from anchor investors days ahead of the launch of its initial share sale for public subscription. The Ather Energy IPO opens for public subscription on April 28. Some of the key anchor investors who were allocated shares include Custody Bank of Japan, Franklin Templeton, Abu Dhabi Investment Authority, Eastspring Investments, Morgan Stanley Investment Management and Societe Generale. PSBI Mutual Fund (MF), Aditya Birla Sun Life MF, ICICI Prudential MF, Invesco MF, Aditya Birla Sun Life Insurance, ITI MF and Union MF are among the anchor investors. According to a circular uploaded on BSE's website, the electric two-wheeler maker has allotted 4.17 crore shares to 36 funds at Rs 321 apiece, which is also the upper end of the price band. This aggregates the transaction size to Rs 1,340 crore. The Rs 2,981-crore public issue, with a price band of Rs 304 to Rs 321 a piece, will be available for pu

India's PV volume to cruise past 5 million in FY26 despite slow growth

As volume growth slows, original equipment manufacturers (OEMs) will rely on premiumisation and better product mix to protect margins

Maruti Suzuki plans up to $1 bn capex for new EV launch, higher exports

The company is already India's biggest exporter of cars, and the e-Vitara key will be key to further boost its overseas shipments, which it plans to grow by 20% in the current fiscal year

Stellantis to launch Leapmotor EVs in India to boost mobility drive

The entry of the Leapmotor brand into the market aligns with Stellantis' ambition to drive innovation and expand its EV footprint in one of the world's fastest-growing automotive landscapes

EV car policy may be tweaked based on free trade agreement outcomes

The Centre notified SMEC in March last year to turn India into a hub of electric vehicle (EV) manufacturing

Tesla rival VinFast plans to open India plant by end of June, says CEO

VinFast, the Nasdaq-listed global rival of American EV giant Tesla, had selected Thoothukudi in Tamil Nadu for its $2 billion facility

Ex-Tesla hand steers San Fransisco-based Zeno into India e-motorcycle race

First model to roll out at mass-market prices by Q4 2025