Page 2 - Ev Market

India must work with China on EV tech for 5-10 years: Uno Minda chair

Since April this year, China has restricted the export of rare-earth permanent magnets (REPMs) to India, hitting production in the domestic automobile industry

UP to offer EV incentives only to locally manufactured vehicles from Oct 14

Starting October 14, Uttar Pradesh will provide EV incentives only to vehicles that are manufactured, sold, and registered within the state, aiming to boost local production and employment

Automakers may form pool to meet CAFE norms under BEE draft rules

BEE has issued draft CAFE-3 and CAFE-4 norms allowing automakers to pool fleets with up to two others for compliance, with penalties falling on the designated pool manager

Ultraviolette plans IPO by FY28, launches radar-integrated EV bike X-47

Bengaluru-based Ultraviolette plans an IPO by FY28 after unveiling the X-47 Crossover, the world's first radar-integrated electric motorcycle, priced at Rs 2.49 lakh

Aiming to reach Rs 400 crore revenue in FY26: Euler Motors founder

Founder & CEO Saurav Kumar says the firm will expand to 100 cities, launch affordable EVs, and ramp up production as it eyes doubling revenue to Rs 400 crore in FY26

China's EV boom burdens auto insurers with mounting, chronic losses

Over the past year, some Chinese insurers have hiked premiums or backed away from selling EV policies, leaving vehicle owners struggling to find affordable coverage

Ather crosses 500 experience centres, eyes 700 by FY26 amid demand

Ather Energy has crossed 500 experience centres across India and plans to expand to 700 by FY26 as its Rizta scooter drives growth in metros as well as tier 2 and 3 cities

Rare-earth squeeze puts electric two-wheeler firms, suppliers at odds

OEMs seek temporary exemption to keep subsidy and avoid shutdowns

Simple Energy develops India's first heavy rare earth-free EV motor

Simple Energy has started commercial production of heavy-rare-earth free EV motors, achieving 95 per cent localisation as it eyes a $350 million IPO in FY27

India tests alternate EV motors as China tightens rare earth exports

Seven Indian automakers are reviewing the motors, and if cleared, production could begin within a year, well ahead of an initial 2029 target

Hinduja Group to invest ₹7,500 cr in TN, AstraZeneca to expand GITC

The Hinduja Group will target cell and battery manufacturing for Tamil Nadu's EV ecosystem, while AstraZeneca will invest ₹716 crore to expand its Chennai innovation and tech centre

EV makers relieved as GST Council retains 5% tax on electric cars

The GST Council's decision to retain the 5% tax rate on electric vehicles (EVs) reassures manufacturers, but competition from small petrol and diesel cars with lower taxes looms

₹950 crore subsidy to boost EV adoption, infra expansion in Uttar Pradesh

The state registered sales of about 370,000 electric vehicles in FY25, ahead of Maharashtra (240,000), Karnataka (170,000) and Tamil Nadu (132,000)

Tata Motors seeks govt help to ease electric vehicle raw material sourcing

Says that battery localisation remains a challenge

Recharging the old: How retrofitting can help improve green mobility

Unlike new EV purchases, which remain unaffordable for many low-income users and small fleet operators, retrofitting leverages existing assets

EV adoption surges in developing nations, challenging oil demand narrative

Like the EV surge in Gulf oil nations, it signals a rapid global shift to electric mobility, making OPEC's forecast of a 50% rise in developing nations' oil use by 2050 seem unrealistic

PM E-DRIVE subsidy scheme extended for 2 years for certain segments

Govt extends EV subsidy scheme for e-trucks, buses, ambulances and charging infra till March 2028; support for e-2Ws, e-rickshaws and e-3Ws to end by March 2026

Tesla leases retail space in Gurgaon for its second showroom in India

Tesla has leased 33,475 sq ft in Orchid Business Park, Gurgaon, for Rs 40.17 lakh a month for a service, delivery and retail centre; its Mumbai BKC showroom opened in July

China's rare earth curbs: No relief for EV cos as govt pushes localisation

The directive came amid growing industry concern over supply chain constraints following China's April 4 move to restrict exports of rare earth magnets

Price cap, certificate crunch stall Centre's electric truck drive

The scheme mandates that a buyer scrap an old vehicle to get a certificate of deposit (CD), which must then be used to claim the incentive on a new electric truck of the same or lower weight