Page 85 - Electric Vehicles

Fanuc Corp's road to redemption runs through India and the US Fed

India is looking hot, though. Revenue growth at its wholly owned Fanuc India Private Ltd. doubled over the past two years, according to data filed with the Ministry of Corporate Affairs

Freezing out ICE

EVs have a long way to gain traction

Logistics operator Maersk plans to add 300 EVs to its fleet in India by Oct

Global integrated logistics operator Maersk on Monday said it is planning to add more than 300 electric vehicles to its fleet in India by October. Maersk has already deployed over 200 Electric Vehicles (EVs) across 15 cities in the country, and is planning to expand to another 11 cities, taking its overall EV fleet to over 500, the company said. The company plans to be net-zero across businesses and provide customers 100 per cent green solutions by 2040. In September last year, the company unveiled its three-wheeler and four-wheeler EVs in Mumbai, which was followed by the rollout in the National Capital Region. Maersk said it has recently tied up with a large e-commerce platform in India to support its distribution requirements with a dedicated fleet of EVs that range in the capacity of 550-700 kg with a driving range of over 120 kilometres. India is a large market with a constantly growing demand for distribution logistics, Maersk South Asia Managing Director Vikash Agarwal ...

Electricity usage by EVs in Maha rises to 14.44 mn units in July: MSEDCL

The power usage for electric vehicles (EVs) rose more than three-fold from 4.56 million units in September last year to 14.44 million units in July 2023, the Maharashtra State Electricity Distribution Company Limited said on Monday. State-run MSEDCL, also called Mahavitaran, is the nodal agency for providing charging stations for EVs, as well as other works like helping the private sector come up with such infrastructure, and assisting the government in policies regarding the sector, an official release said. Quoting MSEDCL CMD Lokesh Chandra, the release said the power usage for EVs in Maharashtra was 4.56 million units in September 2022, which rose to 6.10 million units in March and further to 14.44 million units in July this year. The sale of power for EVs took place from 3,214 public and private charging stations statewide, it said, adding that the sale of EVs in Maharashtra increased from 4,643 in 2018 to 1,89,698 in 2022 and 2,98,838 as on March 31 this year. Two-wheelers ...

Tata Sons seek partnerships for UK battery plant to supply JLR EVs

The collaborations for the battery plant, capable of supplying cells for at least 500,000 vehicles a year, could range from a joint venture and sharing of knowledge to experimentation

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