Page 8 - Ev Market

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

Chinese EV makers gearing up to challenge Tata Motors' dominance in India

If MG Motor achieves the sales volume target, it would become the second-largest player in the segment with a market share of 20-24 per cent

Sparks will fly: Electric vehicle trade war between US, Europe heating up

The EU has launched a 750 billion-euro ($812 billion) fund to heal its pandemic-scarred economy, and not all of it is spent yet

After China, Tesla now announces price cuts on its electric vehicles in US

Tesla has also announced price cuts in South Korea, Japan, Australia and Singapore

Luxury carmakers likely to see faster electric vehicle transition

Overall, 37,000-38,000 luxury cars were sold in the country last year

Centre to recover subsidies wrongly claimed under Fame scheme: Report

Ministry of Heavy Industries has already initiated the process to find out the quantum of subsidy claimed without meeting the localisation commitments by EV makers in India

EV push: Eicher Motors to pick 10.35% stake in Spain-based Stark Future

Stark Future recently launched its first high performance electric motocross bike, the Stark VARG

Kinetic to start producing electric version of Luna at Ahmednagar plant

Company set ups dedicated production line with an initial capacity of 5,000 sets per month

EV makers optimistic about delivering fire-proof experience to riders

As India goes ballistic on the electric vehicle (EV) adoption, the real test of EVs, especially two-wheelers, will happen again with the onset of summer next year

Ola Electric launches third software update for its e-scooter customers

Upgrade will give vehicles more than 50 features and improvements, says company

Tiger Global-backed Battery Smart raises Rs 75 cr in funding from Stride

Company will use the financing to add more batteries to its network and expand services

Ather Energy, Greaves Cotton exit EV association SMEV, choose Siam

SMEV was set up primarily for electric two-wheeler players and start-ups in this space. Its membership restricts the entry of companies that have ICE operations and use petrol

FAME II: E2W makers want govt to delay localisation norms by 12-18 months

The supply chain for electric two-wheelers (E2Ws) is coming into shape but still not ready, argues the industry association SMEV

We Founder Circle announces 2 angel funds for early-stage start-ups

Mumbai-based We Founder Circle has in 23 months invested in more than 70 start-ups

Ola Electric scales up as it plans to gain a lead over competitors

Company will be adding in-house manufacture of motors as well as cells, which account for the bulk of the cost of a scooter

Rising battery prices threaten to derail arrival of affordable EVs

There are several factors driving the uptick in prices, but the single most important one is rising costs for materials including cobalt, nickel and lithium