Page 83 - Electric Vehicles

Expert-consultant conflict impacting Delhi Transport work: Officials

Key policies and schemes of the Delhi government's Transport department, including electric vehicles and cab and bus aggregators, have been affected due to the disengagement of experts and consultants, official sources said on Sunday. A total of 437 specialists, advisors and fellows appointed by the Arvind Kejriwal government in different departments were terminated by the Services department following the lieutenant governor's order. The appointments were discontinued over alleged non-transparent manner of recruitment and violation of reservation norms. Later, the Finance department of the Delhi government also asked the departments to stop salaries of such appointees. Officials said around 50 advisors and experts were engaged in the Transport department who were playing crucial role in formulations of various policies and schemes related to electric vehicle, cab aggregators and premium bus service. "The work on these including electric vehicle policy 2.0, cab aggregator policy an

Top headlines: Hero Moto targets enhanced mkt share, market wrap and more

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With margins back to pre-Covid level, Hero Moto targets enhanced mkt share

With its margins back to pre-Covid levels, Hero MotoCorp is now looking at sustainable growth, enhancing market share across segments on the back of new product launches over the next few quarters, according to a top company executive. The country's largest two-wheeler maker is also looking at enhancing production capacity to roll out Harley-Davidson X440 which has already received over 25,000 bookings. The company is also on track to introduce its electric vehicle range in 100 cities by this year-end with a focus on attaining clear leadership in the vertical. "The ICE (internal combustion engine) business margins are now 14.5 per cent. Effectively, it means that we are back to pre-Covid levels which were around 14 per cent," Hero MotoCorp CEO Niranjan Gupta said in an analyst call. Therefore, moving forward, having covered the margins back to pre-Covid levels, the company's singular focus is going to be growth and market share on the back of lots of launches that have been done an

Audi launches Q8 e-tron in India; check expected price and specifications

The German automaker launches its new model in India in four variants. The company has already begun its advance booking with token money of Rs 5 lakh. Check full updates here

Electric 2-wheeler demand slowing down due to reduced subsidy: CARE Ratings

The reduction in FAME subsidy is slowing down demand for electric two wheelers and the manufacturers will now have to focus on achieving price reduction through R&D and innovation, a report said on Thursday. The medium term sales trajectory for two wheelers, which include e-two wheelers as well, is anticipated to be modest, characterised by uncertainties and driven by a host of factors, it said. In its report, CARE Ratings said the core segments of two wheelers, specifically the 75 cc - 110 cc range in motorcycles and the 75 cc - 125 cc range in scooters, have shown a sharp sales volume decline from FY19 to FY22, with a slight recovery seen in FY23. Sales of electric two wheelers also significantly declined in Q1 FY24 due to the government withholding FAME subsidies for certain Original Equipment Manufacturers (OEMs), it said. Additionally, the report said that a subsidy reduction to Rs 10,000 per kWh from Rs 15,000 per kWh and 15 per cent of the ex-factory price from 40 per cent .

PM-eBus Sewa to act as catalyst for EV promotion across urban centres: SMEV

The PM-eBus Sewa will act as a catalyst for promotion of electric vehicles across urban centres to drive the penetration of electric mobility, Society of Manufacturers of Electric Vehicles (SMEV) said on Thursday. "Buses being a pivotal source of urban pollution, the decision will help substantially reduce pollution levels and consequential carbon emissions," SMEV Director General Sohinder Gill said in a statement. "Moreover, this strategic manoeuvre is set to act as a catalyst for the promotion of electric vehicles across diverse urban centres, enabling a more extensive embrace of electric mobility," he said. The initiative holds the potential to generate direct employment opportunities and help upskilling existing resources, he said, adding that the scheme will also introduce economies of scale for the procurement of electric buses. It will also play an instrumental role in propelling India towards self-reliance, environmental stewardship, and its envisioned status as a hub for E

Gogoro, Swiggy join hands for adoption of EVs in last-mile delivery

Electric vehicle battery-swapping solutions provider Gogoro Inc on Thursday announced a partnership with Swiggy to promote its electric Smartscooters to last-mile delivery partners of the on-demand convenience delivery platform across India. Gogoro and Swiggy will provide a seamless path for riders to adopt sustainable electric transportation and improve their business efficiency, Gogoro Founder and CEO Horace Luke said. "Partnering with Swiggy, a leading player in the industry, to provide access to Gogoro Smartscooters and battery swapping is essential in successfully transforming India's urban fleets to electric," he added. Swiggy Head of Operations Mihir Shah said, "This partnership with Gogoro is another key step in our commitment to creating greener and cost-effective solutions for our delivery fleet." Shah further said, "Gogoro's battery swapping technology represents a new generation of electric refueling that has proven successful on a mass scale for last-mile delivery, and

Top four electric two-wheeler makers give refund of Rs 10 crore to buyers

An investigation by the Centre found that some electric two-wheeler manufacturers were billing their charger separately to their electric scooters to cut the reported sale price of their products

Amara Raja Batteries to expand into two-wheeler market to power growth

The company, which owns the Amaron battery brand, aims to penetrate into two-wheeler EV market first with chargers and eventually through battery packs as it expands its so-called 'new energy' segment

M&M expects to produce 200K EVs from upcoming Chakan plant by 2029: Nakra

Mahindra & Mahindra expects electric vehicle production at its upcoming plant in Chakan in Maharashtra to hit peak production mark of 2 lakh units per annum between 2027 and 2029, according to company President -Automotive Sector Veejay Nakra. The company estimates that EVs would account for 30 per cent of the overall volumes by 2030. In January this year, the auto major received an approval from the Maharashtra government to set up a Rs 10,000-crore electric vehicle plant in Chakan near Pune. The company, through its subsidiary, will make this investment over a period of 7-8 years for setting up the manufacturing facility, development and production of its upcoming Born Electric (BE) models. "We are looking at doing a number of 2 lakh units (at Chakan plant) between 2027 and 2029," Nakra said here. The first product under the BE range is expected to hit the markets by end of next year and the production at Chakan plant is expected to begin 4-5 months prior to that, he ...

PM-eBus Sewa: Cabinet approves Rs 57,613 cr for 10k e-buses across cities

10,000 e-buses will be deployed on a public-private partnership model across 169 cities

Evergrande's EV maker agrees to sell 28% stake for $500 mn to Dubai's NWTN

NWTN has agreed to invest $500 million in China Evergrande New Energy Vehicle Group Ltd. in exchange for shares and a majority of the EV maker's board

Ashok Leyland to acquire OHM India as part of EV plan, to invest Rs 300 cr

Hinduja group flagship firm Ashok Leyland on Monday said it will fully acquire OHM Global Mobility Pvt Ltd from OHM International Mobility Ltd and will invest Rs 300 crore into the acquired entity. OHM Global Mobility Pvt Ltd (OHM India) is a wholly-owned subsidiary of OHM International Mobility Ltd UK (OHM UK) and the promoter, Hinduja Automotive Ltd, directly holds 20 per cent and indirectly through other subsidiaries holds 43.23 per cent in OHM UK, Ashok Leyland said in a regulatory filing. The acquisition is a part of the company's EV strategy to engage in the business of eMaaS (e-Mobility as a Service). This would likely result in enhancing the operational efficiency and synergy, it added. OHM India is envisaged to operate in transportation, logistics operation and management and eMaaS. "The company also proposes to infuse fresh equity or preference capital of up to Rs 300 crore in one or more tranches into OHM India for its business requirements," Ashok Leyland said. OHM Ind

Top headlines: Adani probe ends, chana prices rise ahead of festival season

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Foxconn Technology looks at India as its third global electric vehicle hub

Plans to corner 5% of EV sales worldwide by 2025

Servotech, UP govt collaborate to set up EV charger manufacturing plant

Servotech Power Systems will invest Rs 300 crore to set up an EV charger manufacturing plant in Uttar Pradesh as part of an agreement with the state government. The manufacturing facility is being set up under the Uttar Pradesh Electric Vehicle Manufacturing and Mobility Policy 2022, the company said in a statement on Saturday. Servotech Power has signed an MoU with the Uttar Pradesh government in this regard, it said. The MoU was signed by Servotech's MD Raman Bhatia and UP's Industrial Development Minister Nand Gopal Gupta 'Nandi'. Invest UP CEO Abhishek Prakash and other senior officials of the state government were also present on the occasion. Bhatia said the state has huge potential to become the manufacturing hub of electric vehicles (EV), chargers, and batteries, etc. Prathamesh Kumar, Special Secretary to Chief Minister and Additional CEO, Invest UP said,"This MoU is a major step towards our goal of making Uttar Pradesh a leading EV manufacturing hub in India. We are ...

Top headlines: EV sales could rise 1 mn in 5 yrs, Kharif sowing over

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New model should help double our market share to 30%: Ather's Tarun Mehta

Ather Energy's founder, Tarun Mehta, discusses his strategy to increase volumes, the competition, and the impact of the FAME-II reduction

Tata Motors leads Indian EV market with a market share of 72%: Canalys

The sales of EVs in India jumped 137 per cent to 48,000 units in HICY23 as compared to H1CY22

IEMC demands continuation of incentives for EV sector to maintain sales

Industry body IEMC on Thursday demanded continuation of incentives given to electric vehicle sector and cautioned that the withdrawal of sops would reduce EV sales to 37 million units by 2030 from estimated 125 million. According to India Electric Mobility Council (IEMC), India Energy Storage Alliance (IESA) has estimated that on discontinuation of the demand incentives, the electric vehicles (EV) sales in India will reduce from estimated 125 million units to 37 million units by 2030. The central government launched the FAME (faster adoption and manufacturing of hybrid and electric vehicles) scheme in 2015, under which subsidies are given to electric vehicle manufacturers and the benefit is passed on to buyers. The second phase of the scheme FAME II was launched in 2019. The scheme, which also provides incentives for setting up battery charging stations in the country, is likely to end in March next year. "...to ensure sustained growth of EV adoption in India, more than 80 EV ...