Page 5 - Ev Market

India's EV market to reach Rs 20 trn by 2030, create 50 mn jobs: Gadkari

Nitin Gadkari appealed to the EV manufacturers to expand production capacity while maintaining high-quality standards to meet the fast-growing domestic as well as export demand

EV growth faces charging woes even as carmakers push ahead with launches

India's charging infrastructure lags behind EV demand despite policy incentives

Tivolt, Tata Power Renewable partner to boost EV charging infrastructure

Tivolt Electric Vehicles CEO Saju Nair exchanged documents with Tata Power Renewable Energy Ltd's Head of Business Development - EV Charging, Virendra Goyal, at an event

Nissan boss Uchida races to save the struggling company and his job

Uchida's tenure has coincided with a tectonic shift in the automotive landscape, as new EV makers challenge decades-old manufacturers

PURE EV to expand dealership network, launch new products by 2027

Electric two-wheeler manufacturer PURE EV announced plans on Wednesday to expand its dealership network to over 320 outlets across India by mid-2027. The company plans to launch PuREPower in 2025, leveraging its vehicle battery and powertrain platform. Over the next 30 months, we aim to add 250 new dealerships, expanding our network to over 320 across India. This growth will be fueled by increasing demand for long-range scooters, electric motorcycles, large B2B contracts, and our entry into the household brand segment, PURE EV Founder and MD Nishanth Dongari said. The company currently operates with 70 dealerships. PURE EV is the first to integrate Nano PCM (Phase Change Material) into its battery systems for efficient thermal management, Dongari said. This innovation eliminates the risk of unsafe thermal incidents, enhancing safety in electric vehicles and boosting consumer confidence, he added. PURE EV has focused extensively on electric motorcycles, already launching two models

JSW plans entry into EV market, to launch in-house electric vehicle brand

JSW had earlier announced a $1.5 billion joint venture with SAIC Motor, the Chinese automaker behind the MG brand, to produce and sell MG EVs in India

RevFin eyes financing 2 mn vehicles, Rs 20k cr loan payment in 5 yrs: CEO

Electric vehicle financing digital platform RevFin is aiming to finance 20 lakh vehicles in the next five years, translating to loan disbursements of nearly Rs 20,000 crore, according to the company's founder and CEO Sameer Aggarwal. With an aim to disburse loans of about Rs 5,000 crore by the end of March 2026, the company, which primarily focuses on financing electric commercial vehicles, plans to raise USD 50 million in equity to fund growth over the next 18 months, he told PTI. "From a five-year target perspective, we have set a target of financing 20 lakh vehicles," he said when asked about the company's plans. In terms of disbursements, Aggarwal said financing 20 lakh vehicles "roughly translates to nearly Rs 20,000 crore". Sharing how the company has grown, especially in the last couple of years, he said, "We have now financed about 75,000 vehicles, and out of that, about 25,000 vehicles have only been financed this year. Last year, we did 30,000 vehicles in total". RevFin

Hero MotoCorp to expand EV business with new affordable models lined up

Hero MotoCorp is looking to scale up its presence in the electric two-wheeler space as it gears up to introduce affordable models over the next few months, according to a top company executive. The two-wheeler major is also looking to bolster its presence in Europe as it looks to enter markets like the UK, France, Spain and Italy next year. "In the next six months, there will be a lot of action in the product portfolio (in the EV space). We will be launching products (under VIDA range) in the more affordable segments as well," Hero MotoCorp CEO Niranjan Gupta told PTI in an interaction here on the sidelines of EICMA. Hero MotoCorp's VIDA electric scooter range is currently priced between Rs 1-1.5 lakh, including state subsidies, in India. The company currently sells the VIDA range in over 230 cities and towns in the country, with over 400 sales touchpoints. Gupta noted that the company has done well in the electric segment, having sold 11,600 units in the just concluded 32-day fes

Suzuki's battery EV model 'e-Vitara' to hit market in 2025: Things to know

With the aim to tap into the global BEV market, Suzuki will begin the mass production of the BEV in Gujarat in 2025. The company expects the sales to hit by summer 2025

India's EV market sees festive season boost, reversing recent slump

This year has seen the EV sector on a roll, as it took only 10 months to hit the 1.5 million mark-a feat that took a full 12 months last year

Tesla stock jumps 12% as Musk reassures investors of strong EV growth plan

Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management and aprominent Tesla investor, said robotaxis and AI were not the fundamental businesses he wanted Musk to focus on

Tesla's China-made EV sales grow 19.2% in Sept, sells over 72K vehicles

Tesla sold more than 72,000 EVs in China's domestic market, up 66 per cent year-on-year, its best month this year, according to a company statement on Thursday

Nissan studies hybrid and CNG market in India, no immediate launch plans

Nissan previously announced that it is going to launch an "affordable" EV by 2026

Ola Electric plans 10,000 outlets by 2025, targeting smaller cities

Ola Electric plans to open 10,000 sales and service outlets by 2025 - a move aimed at boosting its presence in smaller cities across India

JSW MG sparks revolution in EV industry with bold Windsor pricing

Parth Jindal, Director, JSW MG Motor India, indicated the company is not satisfied with being a small player in India and has introduced this pricing model, and other benefits, to disrupt the electric

Indian EV market potential likely to touch Rs 20 trillion by 2030: Gadkari

Union Minister Nitin Gadkari forecasts India's EV market could hit Rs 20 trillion and 10 million annual sales by 2030. He expects the sector to create 5 million jobs

Chinese EV maker BYD aims to sell 4 mn vehicles this year: Report

BYD attributed the extra sales growth to this year's introduction of new models with its latest plug-in hybrid technology known as DM-i 5.0, which would also contribute a better margin

EV maker Wardwizard Innovations to form joint venture in Saudi Arabia

The EV cell plant will be dedicated to manufacturing electric vehicle cells. The company did not disclose the cost associated with entering into the joint venture

Why public EV chargers are almost never working as fast as promised

The chemical wizardry of battery power is more complex than pouring liquid in a tank, and both internal and external factors take a toll on charging speed

Automaker Minda Corp inks licensing pact with China's Sanco to tap EV mkt

Auto components maker Minda Corporation Ltd on Wednesday said it has signed a technology licensing agreement with China's Sanco Connecting Technology to offer electrical distribution systems solutions for the electric vehicles market. Sanco Connecting Technology is a leader in EV connection systems. Under the agreement, Minda Corp & Sanco will locally develop EV connecting systems, charging gun assemblies with sockets and accessories, bus bars, cell contact systems, power distribution units (PDU) and battery distribution units (BDU), the company said in a statement. "This agreement will enhance the product portfolio offering of Minda Corporation in the growing EV industry in the areas of Electrical Distribution Systems (EDS)," it added. Commenting on the partnership, Minda Corporation Executive Director Aakash Minda said, "By offering new-age EV solutions, we will enhance the overall kit value across vehicle segments, with a commitment to achieve successful localisation, ...