Page 48 - Electric Vehicles

JLR unlikely to leverage EV policy for now: Tata Motors on new EV policy

Expects incentives for 4W fleet to continue in FAME III

Discounts by OEMs, EMPS deadline rev up electric vehicle sales in July

Sales in July highlight a positive outlook for the remainder of the year, reflecting a growing consumer interest and the impact of strategic market incentives, sector experts said

Ola Electric IPO: E2W maker raises Rs 2,763 cr from anchor investors

Investors include SBI MF, Templeton, Amundi, Goldman Sachs

JSW MG Motor India christens first electric CUV model as MG Windsor

JSW MG Motor India on Thursday said it has named its first CUV electric vehicle as MG Windsor. In November, China's largest automaker SAIC Motor inked a joint venture agreement with JSW Group to accelerate the transformation and growth of MG Motor in India. MG Motor is a British brand that is owned by Shanghai-headquartered SAIC Motor. "We are excited to reveal the name of our upcoming CUV (Crossover Utility Vehicle) as MG Windsor. Windsor Castle is renowned worldwide. "The advanced tech offerings and the futuristic aerodynamic exterior further add to the appeal of the car. The MG Windsor caters to consumers who seek the best of both worlds comfort of a sedan and the expanse of an SUV," Satinder Singh Bajwa, Chief Commercial Officer at JSW MG Motor India, said.

Ola Electric to focus sharply on two-wheelers, cars not on agenda

The country's largest electric two-wheeler player is going for the biggest IPO of the year so far, aiming to raise Rs 6,146 crore

Maharashtra, Tamil Nadu lead the race for Tesla's manufacturing unit

Gujarat also in list, if govt rolls out sops; in talks to rope in local partners

Electric 2W player Ola Electric sets IPO price band at Rs 72-76 per share

Volume growth, vertical integration would be the main pillars for improving its margins, founder and CEO Bhavish Aggarwal told reporters on Monday

Bajaj Auto-powered electric mobility company Yulu eyes global ride

It plans to pedal overseas with a Bajaj product and accelerate into India's e-commerce space with a high-speed two-wheeler

Xiaomi purchases $116 million site in Beijing to expand EV production

Xiaomi's successful foray into EVs stands in contrast to competitors who are struggling for market share in a crowded industry

EV startup Simple Energy raises $20 million in series A funding round

The funds will be used to scale up the production of Simple Energy's e-scooters, the Simple One and Simple Dot One

China defends its manufacturing capacity, asserts world needs more EVs

While China pays attention to concerns of major economies about overcapacity, it too is concerned by trade threats like tariffs, Liao said

Electric 2W, 3W companies likely to face retest for FAME-III scheme

Re-certification needed for all models; EMPS may be extended for two more months

Tata Power Solar Systems partners with BoI for EV charging stn financing

Tata Power Solar Systems Ltd (TPSSL) on Friday said it has partnered with Bank of India (BOI) to facilitate easy financing for rooftop solar installations and establishment of electric vehicle (EV) charging stations. The partnership is a significant milestone with Tata Power Solar becoming the first solar company to collaborate with BOI for both solar and EV Charging Station financing and strengthening its leadership as a green energy solutions provider, a statement said. This collaboration supports the government's initiatives to promote rooftop solar installations, targeting a wide spectrum of customers, including residential users under the PM Surya Ghar Yojana, housing societies, and Micro, Small, and Medium Enterprises (MSMEs). Under the PM Surya Ghar Yojana, residential customers seeking to install solar systems up to 3 KW can avail loans up to Rs 2 lakh with only a 5 per cent margin money requirement. These loans are offered at an attractive interest rate of 7.10 per cent pe

Govt demands more local content in electric vehicle manufacturing

In its recent discussions with stakeholders, the ministry suggested reducing the number of components under PMP in FAME-III from 18 to 12

Ola Electric suspends India car project to focus on scooters, bikes: Report

Ola had planned to launch e-sports car this year

India's critical minerals: EV boom ahead, but policy gaps persist

The Centre has also extended the concessional Customs duty of 5 per cent on Li-ion cells until March 2026

India should keep its focus on EVs with regard to incentives: BMW Group

The German automobile company sells 24 models in India - one plug-in hybrid car, six EVs, and 17 internal combustion engine (ICE) cars

S Korea's LGES in talks with Chinese firms to make low-cost EV batteries

LGES' potential partnerships come as the global EV industry is grappling with a sharp slowdown in demand, and underscore growing pressure non-Chinese battery firms

Trump move against EV support would hurt competitors more than Tesla: Musk

Former President Trump, the Republican candidate supported by Musk, has been critical of the Biden administration's EV policies and has said that he will "end the electric vehicle mandate" if he wins

Customs duty exemption on lithium, cobalt to aid EV sector growth: Auto Inc

The proposed exemption in customs duty on import of lithium, cobalt and other rare minerals in the Union Budget 2024-25 is likely to lower the battery production cost and help in making electric vehicles more affordable for the buyers, auto industry leaders said on Tuesday. Finance Minister Nirmala Sitharaman while presenting the Union Budget for 2024-25 proposed to fully exempt customs duties on 25 critical minerals and reduce Basic Customs Duty (BCD) on two of them. "This will provide a major fillip to the processing and refining of such minerals and help secure their availability for these strategic and important sectors," she noted. Minerals such as lithium, copper, cobalt and rare earth elements are critical for sectors like nuclear energy, renewable energy, space, defence, telecommunications, and high-tech electronics, Sitharaman stated. Auto industry body SIAM President Vinod Aggarwal said the exemption of customs duty on import of lithium, cobalt and other rare minerals and