Page 7 - Ev Market

BYD pulls ahead as world's biggest producer of battery passenger cars

After a $12 billion selloff during November, BYD is as cheap as it has been going back to the start of 2010, despite 31 out of 32 analysts putting a Buy rating on the stock

EV golf car service begins in Ayodhya ahead of Ram Mandir inauguration

According to the government's press release, the operation of e-vehicle transport service has also started between Lucknow and Ayodhya

Electric buses penetration set to double to 8% next fiscal: Report

Despite the lingering counterparty risks and poor availability of charging stations, the share of electric buses (e-buses) is set to double to 8 per cent next fiscal, driven by supportive policy measures and favourable ownership costs, says a report. Citing the government focus on overall decarbonisation with the primary thrust being public transport as the main enabler along with favourable total cost of ownership, a Crisil Ratings report on Monday said this will drive the sales of e-buses in overall bus sales which is on course to hit 8 per cent of the new sales next fiscal from around 4 per cent this fiscal. Concerted efforts are underway to deploy e-buses via tenders already awarded under the faster adoption and manufacturing of (hybrid and) electric vehicles or the Fame scheme and the national electric bus programme (NEBP). When it comes to favourable total cost of ownership of an e-bus compared to internal combustion engine and compressed natural gas buses, the report credits

Kia India eyes 10% growth in sales volume next year: MD & CEO Tae-Jin Park

Park, however, anticipates the overall domestic passenger vehicle (PV) sales in the industry to stay "flat" in 2024, as demand primarily exists for sport utility vehicles (SUVs)

Okaya to partner with IOC to install over 2,500 EV chargers across India

Okaya EV Chargers plans to set up 2,550 electric vehicle chargers across India in collaboration with Indian Oil Corporation (IOC) at an investment of Rs 125 crore, the company said on Tuesday. As many as 362 such chargers have already been installed in over 20 states in a step towards bolstering the electric vehicle infrastructure in the country, according to Okaya EV Chargers. The chargers being set up comprise a diverse range of high-and low-voltage options, including 3.3-kw and 7.4-kw chargers, 30-kw wall-mounted CCS (combined charging system) 2 DC fast chargers, as well as 60-kw CCS2 DC fast chargers, the company said. "This partnership aligns with our vision of creating a sustainable ecosystem for electric vehicles in India. Our advanced charging solutions will empower EV users with convenient and efficient charging options, said Anshul Gupta, Managing Director at Okaya EV Chargers. The total investment for this initiative is pegged at Rs 125 crore, reflecting the substantial

Own an electric car? There is now an add-on cover for your car's batteries

The insurance add-on launched for private cars, covers expenses incurred in the repair/replacement of the batteries and any associated charges due to unexpected power surges while charging

Delhi govt may incentivise vehicle retrofitting under EV Policy 2.0: Gahlot

Delhi Transport Minister Kailash Gahlot on Thursday said the Electric Vehicles Policy 2.0 will look at incentivising retrofitting of vehicles considering its high cost. In an interview to PTI, the minister said that since the new policy is in the works, they will extend the existing policy by six months or until the new one is ready. The Delhi Electric Vehicles Policy-2020 expired on August 8 this year and the government had said that the subsidy being given under it would continue till a new policy gets notified. "We are moving a cabinet note and within this week it should be finalised. The existing policy will be extended for six months or until the new policy is notified," he said. Talking about the new policy that is in the works, the minister said the one thing that they will look at is the concept of retrofitting. "People want to convert their IC (internal combustion) engines into electric ones. The process is expensive. For converting a normal Gypsy, it takes almost Rs 5-6

EV sales could rise to 1 million in 5 years, says Tata Motors' Chandra

In India, only 47,102 EVs were sold by companies in FY23, indicating a 1.3 per cent penetration in the PV market: FADA

Need for subsidy to come down as manufacturing gains scale: Nitin Gadkari

In the backdrop of Elon Musk-owned Tesla stepping up its India engagement, Gadkari said he was hopeful of Tesla entering the country

Here's how China beat everyone to be world leader in electric vehicles

Beijing's success is breathtaking. EVs accounted for a quarter of all passenger cars sold in China last year, far ahead of the roughly one in seven in the US and one in eight in Europe

Mahindra & Mahindra to raise Rs 5,000 crore for its EV business: Report

If the deal goes through, it will be BII's second round of investment in India's biggest sports utility vehicle maker by revenue

'Socialist values' vow: Tesla, China rivals to end brutal EV price war

As early as March, some models made at Tesla's Shanghai plant were 14 per cent cheaper than in 2022

EV market surprises

Tesla has had a win in the EV charging market, but new entrants could redefine the landscape

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

Tata Motors on the green path, every 3rd vehicle to be either CNG or EV

Automaker to increase share of CNG-powered vehicles without compromising on comfort, features

Simple Energy to launch maiden e-scooter in May, quiet on delivery schedule

Electric two-wheeler maker Simple Energy on Wednesday said it will commercially launch its maiden e-scooter Simple One next month but remained quiet on its delivery schedule. The Bengaluru-based EV startup has in the past come out with various delivery schedules. In October last year, the company had announced deferring deliveries of its maiden scooter to the March quarter. "With the launch (of Simple One) scheduled for May 23 in Bengaluru, the company will strive to disrupt the burgeoning electric 2-wheeler market in India," Simple Energy said in a statement. It, however, did not specify when the customers would receive the e-scooter, whose booking commenced from August 15, 2021, when it unveiled the vehicle some 20 months ago with a much fanfare.

Hyundai Motor bolsters US presence with $5 billion EV battery venture

Rivals General Motors Co and Samsung SDI are also set to announce plans to build a joint venture EV battery manufacturing plant in the U.S., sources said

Tesla continues to dominate US EV market with a share of over 50%

Elon Musk-run Tesla remains the market leader in the electric vehicle (EV) market in the US with more than 50 per cent share, selling more cars than the other 17 automotive groups combined

Hero Electric to roll out 1 million vehicles per year for next 2-3 years

Hero Electric on Wednesday said it is set to roll out over 10 lakh vehicles annually in the next two to three years from its manufacturing units in India. The company, which launched new versions of its three electric scooter models priced between Rs 85,000 and Rs 1.3 lakh, plans to set up a greenfield plant at Rajasthan with an annual production capacity of 20 lakh units with an investment of around Rs 1,200 crore. "We have worked closely with our partners to cater to the surging demand for EVs in the country. As a result, we are proud to announce that we are all set to roll out over 1 million vehicles annually from our manufacturing units," Hero Electric Managing Director Naveen Munjal said here at the launch of the new models. Asked when the company could touch the 10 lakh units per annum mark, he said it could be in the next two to three years. In the ongoing fiscal, the company expects to end with over 1 lakh units sales and in 2023-24 it could be around 2.5 lakh units. He sa

India a great use case for 2-wheeler EV market: Dassault Systemes

Suchit Jain said that battery development and battery management for EVs as well as safety consumption are areas that will play a crucial role in India