Page 40 - Electric Vehicles

EV shift especially in China likely to disrupt global oil market, says IEA

An increasing shift toward electric vehicles globally, especially in China, is poised to disrupt the global oil market, according to a report released Wednesday by the International Energy Agency. In recent years, China has accounted for most of the growth in oil demand and planet-heating emissions, but electric vehicles now make up 40% of new sales of cars there, and 20% of sales globally, putting major oil and gas producers in a bind. The IEA World Energy Outlook 2024 outlines a future where EV adoption continues to gain momentum, potentially displacing up to 6 million barrels per day of oil demand by 2030. The agency said based on current trends and policies and the availability of materials, EV will reach 50% of global car sales in 2030. China already accounts for half the world's electric cars on the road. By 2030, it's projected that 70% of new car sales in China will be electric. With its massive additions of new wind and solar power, China is aligned with its target for ...

Not price cut, but festive discounts: Ola Electric on ARAI notice

The Boss sale of Ola is already under regulatory scanner as the Automotive Research Association of India (ARAI) has raised concerns over the company's recent pricing practices

Festival season, discounts boost Ola Electric's daily average sales

This pricing strategy positions Ola Electric as a formidable contender, making it a tough act to follow in the competitive landscape, said market observers

VW, BMW and, Mercedes getting left behind in auto race by China's EVs

The latest warning signs came last week, when all three German manufacturers reported slumping third-quarter sales in China

Global EV sales rise 30.5% in Sept as China shines, Europe recuperates

Chinese carmakers are seeking to grow their sales in the EU despite import duties of up to 45 per cent and amid cooling global demand for electric cars

China-Europe rivalry heats up at Paris car show as EV tariffs loom

This year, they account for only about a fifth of the brands thanks to a much stronger showing from Europe's auto industry - a sign of its determination to defend its home turf

Ola Electric's Bhavish Aggarwal and his EVs need to be less combustible

An online spat between Aggarwal and Kunal Kamra, a popular Indian stand-up comic, has had India riveted

Ola Electric's BOSS sale under regulatory lens: What are ARAI's concerns?

Not updating ARAI about discount could risk subsidy claim

Indian EV market may grow 'strongly, steadily' till 2030: Hyundai India MD

HMIL's chief operating officer, Tarun Garg, stated that the company's first high-volume EV, the Creta EV, will be launched in the last quarter of the current financial year

Over 10k complaints filed against Ola Electric; CCPA sends notice

Consumer rights regulator CCPA has slapped a notice on electric two-wheeler manufacturer Ola, as it initiates a class action after over 10,000 complaints related to quality and after-sales service remained unaddressed, according to sources. The National Consumer Helpline (NCH) has been getting complaints against Ola Electric for the last one year, which were escalated to higher levels at the company for redressal "but there was little interest shown in redressing these complaints", said a source. Subsequently, the Central Consumer Protection Authority (CCPA) "started examining these complaints for class action and found that over the last one year, NCH received over 10,000 complaints", the source added. According to the source, the major categories of consumer complaints include charging during the free service period/warranty, delayed and unsatisfactory services, refusal or delay in warranty services, inadequate services, recurrent defects despite services, inconsistent performance

Ratan Tata leaves an unfulfilled dream behind: The Nano electric vehicle

In 2015, Tata thought about creating a low-cost EV, which gave birth to a product called the Neo EV. It was jointly developed by Jayem and Tata Group

Ola Electric executives meet MHI, seeks time to resolve service complaints

Ola Electric has said that the show-cause notice from the CCPA "would not impact" its activities and that the company will file a response to the notice within the 15-day deadline

Shift to EV-only future likely to bring job losses, warns Toyota chairman

Toyota, the world's biggest automaker by sales, has been more cautious in its approach to EVs than other makers

In EV penetration race, India's electric two-wheelers still in rearview

China leads the e2W market, selling 5.9 million vehicles in CY 2023 - six times more than India - although this represents a 25 per cent drop from CY 2022

MHI seeks ARAI's comments on consumer grievances against Ola Electric

The notice from CCPA came in response to 9,948 consumer complaints registered against Ola Electric between September 1, 2023, and August 30, 2024, on the National Consumer Helpline

Not applying for benefits under India's new EV policy in near term: BYD

Chinese electric vehicle maker BYD is not ready to apply for benefits in the short term under India's new EV policy announced earlier this year that seeks to attract global manufacturers to the country, a senior company official said on Tuesday. The company, which launched its new all-electric multipurpose vehicle eMAX 7 priced between Rs 26.9 lakh and Rs 29.9 lakh, is looking at the homologation route in the short term to meet the demands of its high volume models in India, BYD India Head of Electric Passenger Vehicles Business Rajeev Chauhan told PTI here. "Representatives of our company, who have a good idea about that policy went in, went through that. The final conclusion... is that we have decided that, no, we are not ready to implement this policy in the short term. So, we are not applying," he said when asked if BYD was looking to apply for benefits under the new EV policy in India. Chauhan said having a manufacturing plant gives some advantages, but BYD India is not there .

China imposes deposits on EU brandy in tit-for-tat after EV tariff vote

As of Oct 11, importers of brandy originating in the EU will have to put down security deposits mostly ranging from 34.8 per cent to 39.0 per cent of the import value, the ministry said

China's stimulus package has EV makers talking 'best golden week' in years

With electric vehicles in China now comprising one-in-three new car sales in some parts of the country, many of those road trips were made in an EV, although government doesn't break out exact figures

Amid rising service complaints, CCPA issues notice to Ola Electric

The notice, issued on October 3, cites the 'potential violation' of key provisions of Consumer Protection Act, 2019

Ola electric vehicles on a bumpy ride as social media takes stock

Comedian Kunal Kamra and Ola's Aggarwal engaged in a verbal duel on X