Page 67 - Electric Vehicles

Elon Musk's $55 billion pay package at Tesla voided, things to know

When the package was proposed in early 2018, the goals seemed like moonshots. The top threshold in each category required Tesla to grow by more than 11-fold

PM Narendra Modi set to inaugurate India's first global mobility expo

The mobility show-Bharat Mobility Global Expo-will be conducted from February 1-3 in the national capital and will bring the entire mobility value chain under one roof

Discounts fail to fire up electric 2-wheeler sales in January, shows data

Industry unlikely to meet FY24 target of 1 million registrations

Servotech Power, BPCL to set up 1,800 EV charging stations pan India

Servotech Power Systems Ltd (SPSL) on Tuesday said it has secured an order worth Rs 120 crore from Bharat Petroleum Corporation Limited (BPCL) to install 1,800 fast EV charging stations across various locations in India. The project involves two charger variants, 60 kW and 120 kW, Servotech said, adding that it aims to complete this project by the end of this year. In a statement the company said it has bagged an order of 1,800 DC fast EV charging stations from BPCL and the order value is Rs 120 crore. "Our partnership focuses on establishing a dynamic EV charging network that makes EV charging accessible for EV owners nationwide. "Through cutting-edge DC Fast EV chargers, we aim to play a pivotal role in realizing India's ambitious goals in the E-Mobility sector, bringing the nation closer to becoming an EV-powered nation," Sarika Bhatia, Director of Servotech Power Systems said. Servotech Power Systems develops tech-enabled EV charging solutions.

60 battery, EV infra cos to participate in Bharat Mobility Global Expo

More than 60 battery, recycling, and electric vehicle infrastructure firms will participate at Bharat Mobility Global Expo to be held from February 1 to 3, to showcase their innovations, a statement said on Monday. Industry body India Energy Storage Alliance (IESA) is organizing a dedicated pavilion on battery technologies, recycling, and EV infrastructure as part of this global expo, an IESA statement said. More than 60 leading companies including Amara Raja, LivGuard, GODI Energy, Epsilon Advanced Materials, Bhilwara Group, Replus, Himadri Speciality Chemical, Trontek Group, and Battrix are participating in the event. "India is at the forefront of a transformative mobility revolution, and this expo serves as a testament to the nation's commitment to sustainable transportation," Rahul Walawalkar President, IESA and CES (Customized Energy Solutions) India said in the statement. The expo will showcase the diversity and innovation propelling emobility landscape, he added. "Central t

Olectra Greentech Q3 results: Net profit rises 77% to Rs 27.11 cr

Electric vehicles maker Olectra Greentech on Monday reported a 77 per cent rise in its net profit to Rs 27.11 crore for the December 2023 quarter on the back of higher revenues. "The PAT (net profit) stands at Rs 27.11 crore (in the October-December quarter), compared to Rs 15.30 crore in the previous fiscal year up by 77 per cent," a company statement said. Its revenue surged 33 per cent in Q3 FY2023-24 to Rs 342.14 crore, it said, adding that the significant revenue growth was recorded due to higher deliveries. The company has delivered 1,615 electric vehicles to date. Strong demand continues with the total number of bus orders on hand at 8,088 units, it added. During the quarter under review, Olectra delivered 178 electric vehicles, against 142 in 2022-23, an increase of 25 per cent. Olectra Greentech Managing Director KV Pradeep said, "We are pleased to report strong growth in our consolidated revenue and profitability for the Q3 and 9 Months FY23-24. Our focus continues on ..

Domestic auto component aftermarket to touch $14 billion mark: Report

The domestic auto component aftermarket is expected to touch USD 14 billion mark by 2028 on the back of robust growth in vehicle parc in the country, a report commissioned by industry body ACMA in partnership with Ernst & Young said. As per the Global Automotive Aftermarket Research Report, the size of the automotive aftermarket stood at USD 10 billion in 2023. The growth of aftermarket in India is being fuelled by a steady increase in the vehicle parc -- number of vehicles running on the road -- which currently stands at 340 million and is expected to grow at a CAGR of over 8 per cent for the next five years, it added. "The Indian domestic aftermarket, valued at USD 10 billion in 2023, is poised to surge almost 1.4 times over the next five years on the back of growing vehicle demand and promising capabilities of the Indian aftermarket players," ACMA President Shradha Suri Marwah said in a statement. Besides, key ten international markets offer export opportunities of over USD 35 .

Hybrid vehicles practical solution for decarbonisation drive: Report

Hybrid vehicles are a practical medium-term solution for India's decarbonisation drive as the country moves towards eventual electrification, according to a report by HSBC Global Research. Under the current circumstances, the total carbon emissions (well to wheel) from hybrid cars is lesser than that of electric vehicles (EVs) and it may take 7-10 years for EV and hybrid emissions to converge. "Hybrids are critical not just from a cost of ownership perspective, but also for India's de-carbonisation drive," the report said. Hybrids are much less polluting than EVs, it said, adding that the "total carbon emissions i.e. Well to Wheel (WTW) from an EV is currently 158 g/km vs 201 g/km for diesel, 176g/km for petrol, and 133 g/km for hybrid". This means that hybrids are 34 per cent, 25 per cent, and 16 per cent less polluting than diesel, petrol, and a proportionate EV, respectively, it added. Total emissions include both vehicle emissions -- tank to wheel (TTW) and crude mining/refini

Switzerland-based responsAbility to invest up to $25 million in BluSmart

The announcement said that the investment will help BluSmart expand its EV charging infrastructure across the country

Ola unveils e-bike service in Delhi, Hyderabad; plans 10K EVs across cities

The company plans to deploy 10,000 e-vehicles across Bengaluru, Delhi and Hyderabad over 2 months

Tesla expects slowing of growth before new EV model launch in 2025: Musk

Tesla started slashing the prices of its cars in late 2022, igniting a price war that singed US rivals including Ford, who have all slowed EV production

Tesla set to erase $50 billion in valuation after Elon Musk's sales warning

"The Tesla headlines have essentially gone from bad to worse," said TD Cowen analysts, noting that the fourth-quarter revenue and profit were also below expectations

Mass mobility

FAME-III will drive low-emission public transport

Kinetic Green to launch E-Luna in February, bookings start on January 26

Consumers can secure their E-Luna by pre-booking on the Kinetic Green website for an amount of Rs 500. Kinetic had started a pilot around September in some locations of Maharashtra

Kinetic Green to roll out e-Luna next month, bookings start on Jan 26

Electric two-wheeler maker Kinetic Green is looking to invest Rs 100 crore for developing the e-Luna, which is set for a formal launch next month, the company's Founder and CEO Sulajja Firodia Motwani said. The booking of e-Luna will start on January 26 and the vehicles will be available next month, paving the way for the return of the Luna brand -- this time in an electric avatar -- over five decades after its first launch, the company said in a statement on Wednesday. The e-Luna will address the needs of passengers and last-mile delivery segments, and has the potential of a multi-utility vehicle, she said. The e-Luna comes to the market five decades after the launch of the Luna moped. She said the prospects of Electric Vehicles (EVs), particularly e-two-wheelers, in India are "very bright" in the near future. "I think in all, over the next 24 months, we intend to invest Rs 100 crore on the brand," she told PTI. The e-Luna is not just for India, but for Bharat, she said, adding

Tesla plans to build new EVs in mid-2025, to compete with cheaper gas cars

Those models, including an entry-level $25,000 car, would allow it to compete with cheaper gasoline-powered cars and a growing number of inexpensive EVs, such as those made by China's BYD

EV push: FAME-III scheme set to power electric buses this Union Budget

Plans are also being drawn up to reduce the allocation for electric two-wheelers to Rs 2,500 crore from Rs 5,311 crore

Hero MotoCorp planning to launch 3 electric scooters in 2024: CEO

Hero MotoCorp domestically sold 14,046 units of Vida in the April-December period in 2023-24. Vida comprised 4.53 per cent of its total scooter sales in the same time period, as per the SIAM data

Tata Motors to commence EV production at Sanand plant from April 2024

Tata Motors plans to commence production of electric vehicles at the Sanand plant, acquired from Ford India, from April this year, as per a top company official. Tata Passenger Electric Mobility Ltd, a unit of Tata Motors, acquired the facility from Ford India for Rs 725.7 crore in January last year. "We are planning to commence electric vehicle production at Sanand with Nexon EV from April," Tata Motors Passenger Vehicles MD Shailesh Chandra told PTI. The company has already commenced production of internal combustion engine-powered versions of the Nexon at the manufacturing plant with an installed capacity of 3 lakh units per annum. It can be further scaled up to 4.2 lakh units per annum. Chandra said the company is also looking to produce upcoming models at the facility. When asked about the company's product pipeline, he said that Curvv EV would be introduced around the second or third quarter of this calendar year. "We are also hoping that by the fag-end of this year, we sh

Tesla price cuts, delivery plan, CEO pay in focus ahead of results

Falling prices of battery materials are expected to let Tesla show a slight rise in profit margin from the previous quarter