Ev Market

Sebi finds only 2-3 labourers, no EV production at Gensol's Pune unit

Markets regulator Sebi has said it found "no manufacturing activity" at Gensol Engineering's electric vehicle (EV) plant in Pune with only 2-3 labourers present when a National Stock Exchange (NSE) official visited the site. These revelations were part of markets regulator Sebi's interim order issued on April 15 following a complaint received in June 2024 alleging manipulation of Gensol's share price and misappropriation of funds. In its order, the Securities and Exchange Board of India (Sebi) found discrepancies as well as misleading disclosures to investors by Gensol Engineering, a company promoted by brothers Anmol Singh Jaggi and Puneet Singh Jaggi. One of the disclosures came from an investigation conducted by the NSE, which revealed a lack of manufacturing activity at Gensol's EV plant -- Gensol Electric Vehicle Private Ltd -- at Chakan in Pune. During a site visit to the facility on April 9, an NSE official found only 2-3 labourers present. "It was found that there was no .

Jitendra EV to invest up to ₹125 cr in 5 yrs to boost products, capacity

Electric vehicle maker Jitendra EV plans to invest up to Rs 125 crore in the next five years on research & development (R&D), product development and enhancing manufacturing capacity, its Co-Founder Samkit Shah said. The company, which had showcased its Hydrix -- a hybrid vehicle targetted for launch in 2028 -- is also looking to double its sales in the ongoing fiscal year, up from a total of 4,200 units sold in 2024-25, Shah told PTI. "In the next five years we are planning to invest around Rs 80 crore to Rs 100 crore on R&D and product development and another Rs 25 crore on manufacturing," he said. Shah said the company is focusing on both high-speed and low speed electric two-wheelers in order to address the evolving customer requirements, including those of last-mile delivery in the e-commerce segment. On the product side, the company is developing its Hydrix, a hybrid Triquad set to launch in 2028, powered by both hydrogen and electricity with an estimated range of ...

MG Windsor becomes fastest-selling EV in India with 20K units in 6 months

As of March 2025, JSW MG Motor enjoys a 31 per cent retail market share in the EV segment, trailing only Tata Motors, which holds a 38 per cent share

JSW MG Motor India expects EVs to make up 65% of sales by end of 2025

JSW MG Motor India on Friday said it expects up to 65 per cent of its total sales to come from electric vehicles by the end of this year. The company, whose all-electric crossover utility vehicle Windsor has crossed 20,000 units cumulative sales milestone in six months, had 50 per cent of its sales from EVs in 2024. It had sold a total of 60,000 vehicles in 2024. At present, JSW MG Motor India sells three EV models -- ZS, Comet and Windsor -- and three internal combustion engine (ICE) vehicles -- Hector, Astor and Gloster. "EVs are constituting more than 60 per cent of sales in our M-o-M (month-on-month) sales in CY25. We will carry this momentum throughout the year and are confident that our EVs will drive 60-65 per cent of our total sales by year end," JSW MG Motor India Director Sales & Marketing, Rakesh Sen said. JSW MG Motor India is also expanding its new energy vehicle portfolio with MG Cyberster and MG M9, which will be retailed through its newly 'accessible luxury' ...

Opportunity in crisis: Duty on cars, auto parts likely to spur EV push

India's growing auto components industry could step in to fill the gap left by these shifts

BYD plans EV manufacturing unit with Megha Engineering in Telangana

Location likely to be Shabad near Hyderabad; battery project also under consideration

Indian roads will surpass US quality within two years: Nitin Gadkari

Nitin Gadkari expressed his optimism about India's future in electric vehicle (EV) adoption, predicting that the country will surpass the US in both EV adoption and manufacturing within next 5 years

Ease of imports, company-agnostic norms to be focus of scheme for EV cars

Since the announcement of the scheme, about 4-5 consultations have so far taken place between MHI and stakeholders like original equipment manufacturers

500 kms on a 5 minute charge? BYD reveals new 1,000 kW battery system

Electric vehicle maker BYD promises gas-like refuelling speeds with latest EV charging platform, plans nationwide charging network in China

Ola Electric eyes Ebitda breakeven in automotive by Q1FY26; stock up 3%

Ola Electric share rose after the company's announcement that it expects Ebitda breakeven in its Automotive segment by Q1FY26, with full financial benefits from recent initiatives expected by April'25

UK EV delegation visits Kolkata, FIDC spots challenges for clean mobility

A UK electric vehicles delegation, comprising six innovative SMEs specialising in fleet telematics, battery energy storage systems, AI, IoT-based cybersecurity and modular decentralized generators, visited Kolkata on Tuesday to explore opportunities in India. The delegation, facilitated by Connected Places Catapult and supported by Global Business Inroads (GBI) in association with the Bengal Chamber of Commerce and Industry (BCC&I), aims to foster bilateral trade and investment between the UK and India, particularly in the 2- and 3-wheeler EV segments. Andrew Fleming, British Deputy High Commissioner to East and Northeast India, said, This EV delegation marks a major step in advancing EV innovation and forging new partnerships. By working together, we can unlock opportunities, drive investment, and accelerate the adoption of clean mobility solutions. However, the push for EV adoption in India faces significant financing challenges, as highlighted by the Finance Industry ...

Trump's u-turn on EVs: Promises to buy Tesla amid falling stocks, protests

Challenges grow for Elon Musk's Tesla, as stocks plummet, sales drop, and 'Tesla Takeover' protests erupt across US, with some owner defacing their own cars

Musk wins the Twitter war, but Tesla and X are fighting for survival

Elon Musk's business empire is facing mixed fortunes-Tesla's stock has declined, X continues to struggle financially, while SpaceX remains strong due to government contracts and commercial missions

This industrialist thinks Elon Musk will not succeed in India. Here's why

Industrialist backs domestic manufacturers, calls India a great platform for entrepreneurs

Tata and Mahindra EVs will give Tesla a run for its money: Amitabh Kant

India's G20 Sherpa Amitabh Kant speaks on India's potential to become a global champion in two- and three-wheeler EV market at BS Manthan

India's EV makers: Here's how they are expanding their charging networks

Government-owned fuel retailers Indian Oil, Bharat Petroleum and Hindustan Petroleum have together installed one of India's largest EV charging networks across at least 18,000 locations

Global EV sales up 18% in January; growth in Europe, US outpaces China

Global sales of fully electric vehicles and plug-in hybrids (PHEV) rose 17.7 per cent year on year to 1.3 million in January, the third consecutive month of slowing growth

Trump administration halts federal funding for US EV charger expansion

Elon Musk, who heads Trump's government efficiency team, is also chief executive officer of Tesla Inc., which has the largest EV charger network in the US

M&M Q3 Preview: Profit may zoom up to 22% YoY to Rs 2,981 cr; Ebitda 39%

M&M is expected to report strong performance for Q3FY25, driven by solid growth across its automotive and tractor segments

Tesla registrations drop 63% in France amid rising competition in EU

Tesla's sales plummeted 41% last year in Germany, while overall battery-electric vehicle sales declined 27%. The Federal Motor Transport Authority is scheduled to report January results on Wednesday