Page 5 - Electric Vehicles

Aiming to reach Rs 400 crore revenue in FY26: Euler Motors founder

Founder & CEO Saurav Kumar says the firm will expand to 100 cities, launch affordable EVs, and ramp up production as it eyes doubling revenue to Rs 400 crore in FY26

GST reform widens price gap; EV makers may face heat in festive season

Price cuts on petrol, diesel and CNG cars after GST reforms have widened the gap with EVs, making electric models less attractive to buyers in the near term

Xiaomi to release software update for 115K SU7s, fix assisted driving issue

Over-the-air (OTA) updates to software in China that are related to autonomous driving require regulatory approval to prevent automakers from using them to conceal defects or avoid liability

Blue Energy Motors raises $30 million from Nikhil Kamath, Omnitex

Blue Energy Motors raised $30 mn from Nikhil Kamath and Omnitex to expand LNG and EV truck output, boosting capacity to 10,000 units with Essar and FPT as backers

Ather crosses 500 experience centres, eyes 700 by FY26 amid demand

Ather Energy has crossed 500 experience centres across India and plans to expand to 700 by FY26 as its Rizta scooter drives growth in metros as well as tier 2 and 3 cities

Delhi govt working on formulating model EV policy, says CM Gupta

Delhi Chief Minister Rekha Gupta announced on Thursday that the government is working on a new model Electric Vehicle (EV) Policy and affirmed that all public transport vehicles will be electric by the end of 2026. Speaking at an event organised by The Society of Indian Automobile Manufacturers (SIAM), Gupta emphasised that drivers are responsible for accidents. "Accidents happen every minute, every hour. Vehicles are not to blame; it is the drivers. We need to change the Indian mindset. Many take pride in not wearing seat belts. There must be stricter enforcement of traffic rules. If you fear breaking traffic laws abroad, you should not be allowed to break them here," she stated. Gupta urged people to adhere to traffic rules "not for the sake of the government, but for their own safety." She acknowledged the persistent legacy issues in Delhi, such as garbage mountains, traffic congestion, and pollution, and assured that the government is addressing these problems. "We can give yo

China stockpiling so much oil raises questions despite surge in EVs

China has purchased more than 150 million barrels - costing about $10 billion at current prices - above its actual use so far this year

Tesla Group and SRAM & MRAM to build EV battery gigafactories in India

Battery energy storage systems maker Tesla Group a. s. and SRAM &AM Group, a global leader in technology and sustainable development, have inked a USD 1 billion agreement to set up electric vehicle battery facilities in India and other countries, according to a company official. As per the agreement, a total of five EV battery factories, also called gigafactories, will be set up in India and 15 other countries such as the US, Malaysia, Oman, Brazil, the UAE, and Cambodia, Sailesh L Hiranandani, Chairman of SRAM &AM Group, said in a statement. "The collaboration will create one of the largest battery manufacturing and storage supply chains for electric vehicles (EVs) globally," he added. SRAM &AM Group will lead efforts to secure single-window approvals, grants, subsidies, tax incentives, and local partnerships, while TESLA Group a.s. will oversee the design, engineering, and construction of these cutting-edge facilities to ensure seamless execution, he said. "By combining

From subsidies to surplus: How China's car boom spiralled into oversupply

Inside China's spiralling auto industry crisis is the problem of surplus. Factories are churning out more cars than buyers want, leading to heavy discounts and abandoned vehicles

Simple Energy develops India's first heavy rare earth-free EV motor

Simple Energy has started commercial production of heavy-rare-earth free EV motors, achieving 95 per cent localisation as it eyes a $350 million IPO in FY27

Delhi govt set to release Rs 140 crore EV subsidy dues after HC rap

The Delhi government will soon begin clearing pending electric vehicle (EV) subsidy dues of about Rs 140 crore, officials said on Monday. Transport Minister Pankaj Singh said the department will verify all subsidy applications to address the backlog, which has accumulated over two years. According to an official, the government is also preparing a portal for clearing the pending dues. The development comes in the aftermath of directions by the Delhi High Court. The court on September 3 ordered the Delhi government to take immediate steps to disburse the subsidies promised to customers for buying electric vehicles and said procedural hurdles cannot be used as a pretext to delay payments. A bench comprising Chief Justice Devendra Kumar Upadhayaya and Justice Tushar Rao Gedela noted that the government cannot hide behind the fact that the Delhi Electric Vehicles Policy of 2020 does not prescribe a timeline for disbursing the amount. Officials stated that the order will be followed,

Tata Motors inks pact with 13 EV charging operators to boost infra

Tata Motors on Monday said it is partnering with 13 charging point operators to install and operate 25,000 additional public chargers for electric small commercial vehicles over the next 12 months. The company has signed Memorandum of Understandings (MoUs) with leading charging point operators (CPOs), including A Plus Charge, Ampvolts, chargeMOD, Charge Zone, Electric Fuel, Envo The Sustainer, EV Spot Charge, Kazam, Nikol EV, Sonik Mobility, Thunderplus Solutions, Volttic, and Zeon Electric, Tata Motors said in a statement. The company said that already 25,000 public chargers are available for electric SCVs (small commercial vehicles). All existing and upcoming charger locations will be integrated and visible on Fleet Edge, Tata Motors' connected vehicle platform, providing customers with real-time navigation and availability for seamless access, it added. "This partnership with India's leading Charging Point Operators underscores our dedication to building a robust support network

Ola Electric files PLI claim of Rs 400 crore, boosting financial prospects

Ola Electric has filed a claim of around Rs 400 crore incentive under the government's production-linked incentive (PLI) scheme, reinforcing its compliance with rigorous localisation and regulatory requirements, according to sources. As per industry sources, Ola has filed the claim with eligible sales of about Rs 3,000 crore for FY25, translating into an expected incentive of nearly Rs 400 crore. The incentive, calculated at a rate of 13 to 14 per cent, is expected to significantly strengthen the company's liquidity position and deliver a positive impact on its financial performance in the coming quarters, the sources close to the development said. Notably, Ola was the only two-wheeler Original Equipment Manufacturer (OEM) to receive the PLI incentive last year, marking a significant milestone for the company and the industry. Continuing this momentum, Ola has emerged as the top achiever in PLI-eligible sales in the two-wheeler category for two consecutive years, underscoring its .

TVS Motor, ALT Mobility partner to deploy 3,000 e-three wheelers in FY26

TVS Motor Company on Monday said it has inked a pact with leasing and asset management company ALT Mobility to deploy 3,000 electric three-wheelers this fiscal year. As part of the collaboration, TVS will provide vehicles, while ALT Mobility will procure, lease, and finance them through its ecosystem. The models, variants, and specifications will be jointly finalised to best serve customer needs, and the vehicles will be rolled out through TVS Motor's extensive network of authorised dealers and ALT's point of sales across India, the company said in a statement. The vehicles will be deployed under ALT's drive-to-own leasing model to individual drivers and fleet operators for cargo and passenger transportation, it added. "This collaboration with ALT Mobility is a significant step towards enabling sustainable urban and last-mile mobility at scale," TVS Motor Company Business Head --Commercial Mobility Rajat Gupta said. Anuj Gupta, Co-founder & CBO, ALT Mobility, said partnering with

Hong Kong pitches itself as local assembly base for Chinese EV makers

Hong Kong seeks growth through new industries after economic setbacks from political crackdowns, COVID isolation, and a property slump, weakening its status as a top financial hub

Despite China's assurance, rare-earth magnet supply eludes automakers

Despite China's assurance, Indian automakers are yet to get rare earth supplies, deepening EV and auto component uncertainty

Qcom firms go on an EV drive, but cost, charging infra remain roadblocks

Major delivery platforms commit to adopting EVs for last-mile deliveries, but upfront costs of EV two-wheelers and lack of reliable charging infrastructure remain barriers

India tests alternate EV motors as China tightens rare earth exports

Seven Indian automakers are reviewing the motors, and if cleared, production could begin within a year, well ahead of an initial 2029 target

Policymaking lags industry pace, says VinFast Asia CEO Pham Sanh Chau

VinFast CEO Pham Sanh Chau said India's EV policy was notified after the firm had begun production, leaving it ineligible despite investments since March 2024

MP first state to frame EV policy, says CM on eve of World EV Day

Madhya Pradesh is the first state in the country to formulate an electric vehicle policy and it is ready to represent the future of electric vehicle transportation, Chief Minister Mohan Yadav said on Monday. It is the priority of the state to achieve the country's electric vehicle manufacturing targets as part of the global mandate to fight climate change under the leadership of Prime Minister Narendra Modi, he added. On the eve of World EV Day, he asked people to reduce carbon emissions through the use of clean energy. World EV Day is an annual global event celebrated on September 9 to raise awareness and promote the adoption of electric vehicles. "The state is getting ready to represent the future of electric vehicle transportation. Madhya Pradesh is the first state in the country to formulate an electric vehicle policy. Achieving the country's electric vehicle manufacturing targets under the global mandate to fight climate change and the leadership of Prime Minister Narendra Modi