Page 92 - Electric Vehicles

Ignition of change in electric vehicle battery ecosystem in India

Manufacturers are gradually emerging in a business dominated by assembly operations

Toyota plans EV with 1,200-km range that fully charges in 10 mins

The batteries will deliver quicker charging and around 1,000 km (620 miles) of range, putting Toyota's vehicles ahead of the competition

Automaker Renault India to roll out three new models including a EV

During the calendar year Renault India sold about 84,000 units in the domestic market and shipped out about 28,000 units, Mamillapalle said

EVs to play significant role in closing on record sales this year: Volvo MD

Swedish luxury carmaker Volvo Cars expects electric cars to play a significant role in its bid to close in on record sales in India this year, a senior company official said on Wednesday. The company unveiled its all-electric SUV C40 Recharge in India, which will be launched in August and deliveries to start September onwards. The vehicle will be the company's second electric offering in India after its fully-electric XC40 Recharge launched last year. "2023 has started on a very promising note and we believe that we will do much better this year as compared to the last few years. Since the pandemic I think the market was a bit slow and then we had supply issues. "Supply issue is still around us but I believe that we should go back close to the 2018 number which was our peak," Volvo Car India Managing Director Jyoti Malhotra told PTI here. In 2018, Volvo Car India had sold 2,600 units. Last year it sold around 1,800 units in the domestic market. Asked if the company could cross re

EV makers body petitions NGT for green tax on fuel-based 2-wheelers

Society of Manufacturers of Electric Vehicles on Tuesday said it has petitioned the National Green Tribunal (NGT) expressing concerns against the government's move to cut FAME II subsidy and support a 'Green Tax' on fuel-based two-wheelers. The Ministry of Heavy Industries' latest decision to cut down FAME II subsidies is likely to disrupt India's growth in the EV sector and consequently have a detrimental impact on the environmental and health indices of the country, Society of Manufacturers of Electric Vehicles (SMEV) said it its petition. The ministry has suddenly decided to cut down subsidies by 75 per cent, it added. SMEV further said it has "requested for NGT's support to a Green Tax on fuel-based two-wheelers so as to incentivise the adoption of green vehicles and contribute to the national objective of environmental preservation and pollution reduction". "Electric vehicles are subsidised across the world with the intent to induce a mass shift towards non-polluting energy ..

Boom Motors renamed to Bharat New-Energy Company, launches inhouse battery

The company is also working on a portable fast charger that can plug into a standard three-pin 16A socket and charge the battery in two hours

Toyota Japan announces battery electric vehicle initiatives amid criticism

Toyota plans to make an all solid-state battery as part of its ambitious plans for battery electric vehicles, the company said Tuesday, amid mounting criticism Japan's top automaker needs to do more to fight climate change. Toyota Motor Corp. aims for a commercial solid-state battery as soon as 2027. Charging time, one of the main drawbacks of electric vehicles, will get shortened to 10 minutes or less, the company said in a statement. With the evolution of the vehicle's operating system, the next-generation battery EV will also enable customization of the driving feel,' with a focus on acceleration, turning and stopping, it said. EV owners usually have charging stations in their homes and keep their cars plugged in overnight to recharge. That's one of the main reasons Toyota has long insisted that hybrids are a better solution. A hybrid recharges as the car runs. Toyota President Koji Sato has said the company must play catchup after falling behind in the EV sector. The automaker

Climate laws could price Americans out of EV market, BYD executive warns

BYD Co., China's homegrown company that's now become the world's hottest maker of electric vehicles, has a warning for the US

Foreign automakers get a second chance as India transitions to EVs

But with the advent of EVs, firms like MG Motor India Pvt, the local unit of China's SAIC Motor Corp., Renault SA, Nissan Motor Co. and Volkswagen AG may finally gain a better foothold

Hyundai to utilise $5.9 bn in overseas operations' money for EV investments

Hyundai Motor Group said on Monday it will utilise 7.8 trillion won ($5.9 billion) worth of reservation money held by its overseas operations to push forward planned investments in domestic EV plants

Centre to come up with a master app to check EV charging stations near you

The users will be able to discover the nearest EV charging station, book a slot in advance and make payments through the app

Uber gears up for an electric vehicle future amid rising competition

It has drawn up plans to include more electric vehicles in its fleet by tying up with manufacturers, fleet owners and charging stations

EV financing platform Revfin raises $5 million in investment from DFC

The fintech plans to introduce new products by diversifying into two-wheelers for last-mile deliveries, four-wheelers for mid-mile cargo delivery, and ride-share taxis

HSBC partners Tata Motors for EV financing solutions for salaried accounts

HSBC India has teamed up with Tata Motors for financing the purchase of the latter's electric vehicles by the employee working in the corporate sector. Under the collaboration, consumers holding a salaried account with HSBC India will get a chance to apply for a tailor-made loan to purchase an electric vehicle from Tata Motors' EV portfolio, the domestic auto major said in a statement. Besides, the customers will be able to apply for a loan with zero down payment, no hypothecation, low processing fee and no documentation charges, among others, making vehicle financing simple and easier, it added. Moreover, as an added advantage, customers opting for this loan will also get a special accessory kit for the EV purchased from Tata Motors, the company said. "We are partnering with HSBC India as we work towards accelerating the mass adoption of sustainable mobility in the country. With over 85,000 EVs on the road, Tata Motors is the leader in this fast-growing segment. "Our new-age vehi

SMEV seeks Rs 3k cr rehabilitation fund to revive ops of e2W makers

Society of Manufacturers of Electric Vehicles (SMEV) has asked the government to create a Rs 3,000 crore fund to revive and sustain operations of OEMs which have been badly affected by the recent FAME subsidy blocks. In a letter to the Finance Minister, the industy body has noted that the total amount of subsidies withheld and still due to various electric two-wheeler OEMs (Original Equipment Manufacturers) amounts to over Rs 1,200 crore and that the industry has been awaiting the funds for over 18 months exclusive of the interest. "The cumulative effect of the subsidy blockade, the claim on older subsidies and the refusal to allow future sales has been devastating on startups and first movers in the electric two-wheeler segment," SMEV Director General Sohinder Gill said. Many of these companies will not be able to come out of the financial stress caused by these actions, he added. "In fact, their post-resolution existence is also a matter of time. It is therefore our considered, .

How FAME scheme changes impact electric vehicle fortunes in India

Sharp cutbacks in the incentive scheme is likely to put the brakes on this market

EV financing platform Revfin Services raises $5 million from US FDC

EV financing platform Revfin Services on Friday said it has secured USD 5 million funding from the United States International Development Finance Corporation (DFC). The investment is part of DFC's portfolio for impact and innovation and seeks to promote inclusive financing for EV adoption in India, Revfin said in a release. The freshly infused capital will be deployed for new products and in expanding company's footprint, it stated. Revfin said it plans to finance two million electric vehicles in the next five years. According to the company, it has already invested in over 21,800 electric three-wheelers and funds from DFC will further bolster its growth plans, which include new products by diversifying into two-wheelers for last-mile deliveries, four-wheelers for mid-mile cargo delivery, and ride-share taxis. "The EV industry in India has tremendous potential and also provides good employment prospects. The growth of the industry is restricted due to the limited financing option

Top Headlines: 4 states breach 10% e-2W adoption, Trump's Indictment & more

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Brokerages put medal to metal on Tata Motors stock, maintain bullish stance

EV focus, improved free cash flow, and debt reduction to be major drivers

From Goa to Kerala, four states breach 10% adoption of e-2-wheelers

National average jumps to 5.6%