Page 63 - Electric Vehicles

Govt approves 11 EV manufacturers for receiving incentives under EMPS

EMPS scheme offers subsidies for e2W and e3W to sustain the growth in EV sales in the country

24,000 Nm torque, 300 kWh battery: Tresa Motors unveils V0.2 electric truck

Tresa Motors designed the V0.2 with Indian road conditions in mind. The company says the truck is a durable and reliable solution for eco-friendly logistics, particularly e-commerce

IPEF to organise clean economy investor forum in Singapore in June

The department has invited applications from domestic climate and tech entrepreneurs for participation in the meeting

Electric vehicle retail sales grow across segments in FY24, says Fada

Electric vehicle retail sales in India increased last fiscal with all the segments, including passenger vehicles and two-wheelers, witnessing enhanced registrations, according to automotive dealers' body FADA. The overall sales of electric passenger vehicles rose to 90,996 units in 2023-24 as compared to 47,551 units in FY23, registering an increase of 91 per cent. Tata Motors led the segment with registrations of 64,217 units, up 66 per cent over 38,728 units in the 2022-23 financial year. Similarly, registrations of electric two-wheelers rose by 30 per cent to 9,47,087 units in 2023-24 fiscal as compared to 7,28,205 units in FY23. Ola Electric led the space with retail sales of 3,29,237 units, followed by TVS Motor Company with registrations of 1,82,969 units. Electric three-wheeler retail sales rose 56 per cent to 6,32,636 units last fiscal as against 4,04,430 units in FY23. Mahindra Group retailed 60,618 units last fiscal, registering a growth of 69 per cent over 35,916 units

Hyundai, Kia tie up with Exide for electric vehicle battery localisation

The two auto majors plan to focus on the production of lithium iron phosphate cells. This will make them pioneers in the space

China commerce minister begins Europe trip defending Chinese EV sector

Wang reiterated Beijing's stance that Chinese EV makers did not depend on subsidies to gain a competitive advantage, according to a statement published by the commerce ministry on Monday

Will China flood globe with EVs? Here's what's behind latest US-China fight

China's burgeoning production of electric cars and other green technologies has become a flashpoint in a new US-China trade fight, highlighted by Treasury Secretary Janet Yellen during her five-day visit to China and seized on by former President Donald Trump in incendiary remarks on the campaign trail. China has sharply ramped up its production of cheap electric vehicles, solar panels, and batteries just as the Biden administration has pushed through legislation supporting many of those same industries in the United States. Concerns are growing not just in the US but also in Europe and Mexico that China will seek to bolster its own struggling economy with a wave of exports that could undercut factories overseas. A US trade group, the Alliance for American Manufacturing, noted in a February report that leading Chinese automaker BYD had recently introduced an electric SUV at the astonishingly low price of USD 14,000. China's auto industry poses an existential threat to US carmakers,

Exide zooms 15%, hits new all-time high on heavy volumes; here's why

According to reports, Hyundai and Kia have entered into an agreement with Exide Energy for electric vehicle (EV) battery localisation in India.

Adani, TotalEnergies to set up EV charging stations at new MG dealerships

A unit of a joint venture between Adani group and French energy giant TotalEnergies will set up EV charging stations at new MG dealerships to bolster the charing network, the company said on Monday. "Adani TotalEnergies E-Mobility Limited (ATEL), a wholly-owned subsidiary of Adani Total Gas Limited (ATGL), and MG Motor India signed a memorandum of understanding (MoU) to strengthen the EV charging infrastructure in India," it said in a statement. In terms of MoU, ATEL will set up CC2 60 kW DC chargers at upcoming MG dealerships to bolster the charging network and enhance customer accessibility. "The partnership will also provide a comprehensive solution encompassing supply, installation, commissioning, operations, and maintenance of charging infrastructure. In addition, a digital platform will be launched to facilitate a seamless customer experience, covering discovery, user authentication, charging, and billing settlement through a dedicated mobile application," it said. Adani-Tota

Our EV firms do not rely on subsidies to gain competitive advantage: China

Commerce Minister Wang Wentao made the remarks at a roundtable meeting of Chinese firms in Paris, where he is set to discuss China's exports of EVs into the European market among other things

Electric two-wheelers surge in March: Has the tipping point indeed arrived?

The new EMPS, valid for four months, halved the subsidies per KWH (kilowatt hour, a measure of battery capacity) to Rs 5,000 per vehicle

Tesla's low quarterly sales spark concerns over company's future growth

The growth issue around Tesla has become so sensitive, that a report on Friday saying the company was getting rid of its low-cost EV plans which were considered key to fixing its demand problem

Tesla scraps low-cost car plans amid Chinese EV competition; Musk denies

The automaker will continue developing self-driving robotaxis on the same small-vehicle platform, the sources said

India has given over $1 bn to private firms under PLI scheme: Official

The 1.97-trillion-rupee ($24 billion) production-linked incentive scheme (PLI) is India's key industrial policy and covers 14 sectors ranging from electronic products to drones

Battery cell demand for EVs to rise, India's reliance on imports continues

S&P Mobility said that while Maruti has a tiny EV market share, its battery cell demand is expected to be 20 per cent by 2035, as against Tata Motors at 22 per cent

Telangana govt holds discussions with Tesla to set up electric car plant

The Telangana government is holding discussions with Tesla by putting in all efforts to establish their plant in the state, Industries Minister D Sridhar Babu said on Thursday. In a message on X Sridhar Babu said since December 2023 the state government has been actively focusing on major investment opportunities by global giants, and as part of its focus, Tesla's planned investment initiatives in India are also being tracked. We have been studying and tracking Tesla's planned investment initiatives in India. We have been making all out efforts to bring Tesla to Telangana for some time... Our team is continuing the dialogue and discussions with Tesla by putting in all efforts for Tesla to establish their plant in Telangana, he said. Telangana with its Industry friendly policy, is working with a progressive and futuristic vision by creating a world class Infrastructure and hassle-free permissions system to enable best-in-class companies like Tesla to do business in Telangana, he ...

Why has Tesla stock tanked over 33% in 3 months? Here are 4 key reasons

Even before the sales numbers were unveiled, traders were aggressively selling off Tesla stock. The sell-off was attributed by analysts to a cooling-off in the electric vehicle (EV) market

4 Reasons why Tesla shares are falling since January 2024

The Tesla stock price has plummeted by more than 33 per cent in calendar year 2024 (CY24) to around $170 levels now, marking the electric vehicle giant as the worst performer in the Nasdaq

Tesla's sales drop, a sign that its grip on the EV market is slipping

The sales decline caught investors off guard as rivals like BYD of China and Kia and Hyundai of South Korea reported increases in electric vehicle sales

EV push to create more jobs despite disruption to traditional roles: Report

The report also says that Pune, India's auto hub, should take the lead in a smooth transition to electric vehicles for Maharashtra