Oben electric to launch 4 electric two-wheelers
Prices start as low as Rs 60,000 and go up to Rs 1.5 lakh. Key Points
The TribuneRaksha Bandhan 2024 gift ideas: 5 electric scooters you can buy for your siblings - Ola S1 X, Ather 450X and more
Celebrate Raksha Bandhan by gifting your sister an eco-friendly electric two-wheeler. Options include the Ola S1 X, Lectrix EV LXS G2.0, Hero electric Optima CX, LXS G3.0, and Ather 450X Gen 3. Key Points
mintOla S1 X hits Indian roads with three battery options, starting at ₹69,999
Ola electric launches the budget-friendly S1 X electric scooter in India, offering three battery options and various performance features. Priced from ₹69,999, the scooter aims to boost EV adoption with its affordability and practicality. Key Points
mintFord slows its push into electric vehicles
Ford and other automakers delay electric car plans, focusing on hybrids due to sales challenges. Consumers prefer hybrids for easier fueling. Ford aims to offer hybrid versions for all its models. Key Points
Economic TimesIt is up to Tesla to lay down EV plant investment plans: DPIIT Secy
India's industry secretary, Rajesh Kumar Singh, has urged Tesla to announce its investment plans in the South Asian nation following the government's cut in import duty on electric vehicles. The department released a policy to boost EV manufacturing, and it is up to Tesla to make the announcements. Tesla plans to send a team to India for a proposed $2 billion to $3 billion electric car plant and increase purchases of auto parts from the nation to $15 billion. Key Points
Economic Times
In the green race, auto companies hop on powertrains
Indian carmakers are adapting to a mix of powertrain technologies, including petrol, hybrids, and electric, to meet policy initiatives and changing preferences. The market demands diverse options for cleaner and sustainable transport solutions, driving competition and innovation. Key Points
Economic TimesThe original green drivers: The early adopters of electric cars in India are still passionate about EVs an
Early EV adopters like Saumya Prasad and Sanjay Gupta show dedication to sustainability. Their experiences with old electric cars demonstrate the longevity and value of EV ownership, contributing to the mainstreaming of electric vehicles in India. Industry watchers say electric vehicles are beginning to make economic sense. Now there is price parity between electric and ICE vehicles which will fuel the purchase of electric PVs and increase their penetration, which is now a mere 2%. Key Points
Economic TimesMarch could see the electric bike rally swelling to a record
Vehicle registration count is a proxy for retail sales. It touched 111,964 units for electric two-wheelers on March 29 - the highest for any month - according to data from Vahan, the government's repository of all vehicle registrations in India. The previous monthly high was 105,389 units in May 2023, when consumers had brought forward their purchase plans to avoid paying more due to a reduction in government subsidy from June. Key Points
Economic TimesHere Comes the Flood of Plug-In Hybrids
New US emissions rules mean more plug-in hybrid cars are on the way. The electric vehicle tech is clean—but has a catch. Key Points
WIREDelectric scooters to get costlier in the next two weeks
Electric scooter prices in India are set to rise by up to 10 per cent from April 1, 2024, impacting affordability. This increase, predicted by ICRA, stems from changes in the electric Mobility Promotion Scheme 2024, reducing subsidies. Despite setbacks, electric two-wheeler penetration is projected to reach 6-8% by 2025. Key Points
Economic Times
Amid booming EV sales in India, a nagging issue: Who will service your car?
For now, the pressure on service centres is not much as the share of EVs on the road is low. As per Jato Dynamics data, in CY 2023, the share of electric four-wheelers was 1.7% and two-wheelers 5.03%. Meanwhile, over 50% of three-wheelers were electric. Key Points
Economic TimesNew scheme announced to push sale of electric two-wheelers & three-wheelers in India
According to Heavy Industries Minister Mahendra Nath Pandey, Rs 500 crore is being allocated for the electric Mobility Promotion Scheme (EMPS), 2024. This scheme is valid for four months from April 1 onwards. Key Points
Economic TimesDigital lenders’ play for MSMEs; Ola electric to launch e-autos
MSME-focused digital lenders are increasingly gaining traction as banks slow down on unsecured consumer loans. This and more in todays ETtech Morning Dispatch. Key Points
Economic TimesOla electric plans e-autorickshaw launch ahead of IPO
Ola electric plans to launch an electric autorickshaw, which will take on the likes of Mahindra Treo, Piaggio Ape e-city and Bajaj RE in the electric three-wheeler segment. The product was under development for a couple of years as part of its wider plans to enter the commercial vehicle business. Key Points
Economic TimesEVs are more economical in India, but they are facing big hurdles
Electric vehicles in India offer lower lifetime costs. Small passenger EVs are cost-effective. electric buses have economic advantage. High-speed segment of electric three-wheelers require support. Heavy trucking sector's shift towards EVs is viable post-2030. EV adoption faces barriers like resale value, charging infrastructure, financing, consumer hesitations, and accessible financing. Key Points
The Economic Times
EVs were propped up as future of cars. So why are UK and US falling out of love with them?
Mercedes-Benz had said it would move toward becoming an 'electric-only' company by 2030 but has now put it off. The UK govt has withdrawn subsidies for EVs. And in India, the FAME-II subsidy is expected to lapse soon. Key Points
ThePrintGovt denies reports of FAME-II extension beyond March 31: Officials
The Indian government has clarified that it has not extended the FAME-II scheme beyond March 31. There were media reports suggesting a temporary four-month extension till July 31 with a Rs 500 crore outlay, but officials denied the extension and stated that subsidies would be eligible for EVs sold until March 31, 2024, or until funds are available. Key Points
Economic TimesVida V1 Plus launched again at ₹30,000 less than V1 Pro; check out new price
Vida electric reintroduces V1 Plus electric scooter in India at ₹97,800. With impressive features, 100 km range, and competitive pricing, Vida aims for a broader market share. Key Points
mintHow Greaves aims to capture a bigger share of the electric two-wheeler market
Greaves plans to launch affordable two-wheelers with advanced features and connected technology to address range anxiety. Predictive maintenance and alerts for aggressive driving patterns ensure reliability and inform user decisions. Key Points
Economic TimesView: India’s EV revolution is driven from the bottom up
India's urban landscape is rapidly evolving, especially in its bustling cities. A decade ago, the iconic auto-rickshaws were predominantly diesel-powered, with electric versions being a rare novelty. Fast forward to today, and Delhi leads the charge in transitioning to battery-powered three-wheelers, capturing 54% of the market. This shift is driven by the cost-effectiveness and efficiency of electric models, prompting even Uber's CEO to explore the trend. The financial allure of electric vehicles extends beyond three-wheelers, with manufacturers now eyeing the two-wheeler market. This shift, if replicated, could significantly impact India's oil demand, especially in the face of rising fuel prices. Key Points
Economic Times
Cos take price-cut route to get more electric two-wheelers on road
Ola Electric, Ather Energy, and Bajaj Auto-owned Chetak Technology have slashed prices of their electric scooter models, narrowing the price gap. Despite challenges, increasing affordability, evolving pricing strategies, and government initiatives are expected to boost the adoption of electric two-wheelers in India. Key Points
Economic TimesKerala emerges as frontrunner in EV adoption race in India
Kerala's surprising surge in demand for electric vehicles has left automakers puzzled. Despite representing only about 4% of India's total passenger vehicle sales, Kerala ranks second in electric car adoption, closely behind Maharashtra. Factors such as heightened consumer awareness, reduced operational costs, and improved charging infrastructure have propelled sales in states like Kerala, Karnataka, and Gujarat. Key Points
Economic TimesTop 5 electric car (EV) launches between Rs 11 lakh and Rs 40 lakh in 2024
With advancement in green technology, improving EV infrastructure and multiple entrants flooding the Indian market, potential buyers have been drawn to all-electric offerings in the past couple of years. Though the real EV party for carmakers will begin from 2025 onwards, there are still several models lined up for launch in 2024. Key Points
Economic TimesJSW Group announces $4.82 billion investment in Odisha for electric Vehicle venture
JSW Group plans to invest $4.82 billion in the electric vehicle (EV) and battery manufacturing sector in Odisha, India, as part of an initiative to promote green mobility and develop the EV ecosystem. Key Points
mintJSW Group to invest Rs 40000 crore in Odisha for EV and battery plant
JSW Group plans to invest $4.82 billion to establish electric vehicle and battery manufacturing projects in Odisha. The conglomerate, which formed a joint venture with China's SAIC Motor in November, aims to compete with domestic and international players in India's growing EV market. The government hopes to achieve a 30% share of electric car sales by 2023. Key Points
Economic Times
'Government will try to back startups in mobility sectors'
India Business News: Discover how the government plans to back startups in the mobility sectors, including a payment security mechanism for electric buses and resolving financing issues for electric vehicles. Learn more about the role of larger companies in funding startups in the automobile sector. Key Points
Times Of IndiaBharat Forge expects rapid growth in e-mobility and aerospace businesses
Bharat Forge expects significant growth in its electric mobility and aerospace businesses due to rapid electrification in the automobile sector and a strong order book. The company's deputy managing director, Amit Kalyani, stated that these businesses will become multi-million dollar verticals over the next five years. Bharat Forge's e-mobility arm, Kalyani Powertrain Limited, recently unveiled a retrofitted electric truck that can be installed in existing diesel or compressed natural gas-powered vehicles at half the cost of a new electric truck. The company aims to sell thousands of these retrofitted units annually. Key Points
Economic TimesFrom Mercedes EQG to Suzuki eVX, EVs take centerstage at Bharat Mobility Global Expo
Discover the latest technological leaps in the world of electric vehicles at Bharat Mobility Expo. Prime Minister Narendra Modi to visit the expo and witness the iconic designs and futuristic elements of electric cars. Key Points
Economic TimesBudget 2024: FAME subsidies slashed by more than 55 per cent. What it means for EV buyers
The Interim Budget 2024 was presented by Finance Minister Nirmala Sitharaman. The budget did not mention the FAME III scheme and instead reduced the allocation for the FAME scheme by 55%. The expenditure budget for FAME in the next financial year is Rs 2671.33 crores, a significant decrease from the current year. The government has not yet revealed how funds will be allocated under the FAME scheme for different segments. The EV industry has been advocating for increased allocation in the FAME scheme, as alternative support mechanisms have stringent conditions. Key Points
Economic TimesEV sector may have to wait longer for FAME subsidy extension
The interim budget did not mention an extension of the FAME subsidy, leaving EV makers uncertain about the future of the FAME II scheme. While the government's emphasis on wider adoption of electric public transport and expanding charging infrastructure is positive, clarity on subsidies, taxation, and details of new schemes is needed. The sector also faces challenges such as the need for ample parking space and safe charging points for light electric vehicle charging. Key Points
Economic Times
Not just FAME, EV industry wants FM Sitharaman to do these changes in Budget Bahi Khata
The Indian electric vehicle industry seeks government support through initiatives such as the extension and enhancement of the FAME scheme, GST parity for EV batteries, and financial incentives including tax credits, subsidies, and low-interest loans. Industry players emphasize the importance of these measures in promoting a sustainable and eco-friendly future, incentivizing consumers, boosting industry growth, and stimulating innovation and job creation. Key Points
Economic TimesMaruti Suzuki to launch mid-size electric SUV next fiscal
To be its first EV in sports utility vehicle segment. Maruti Suzuki will launch a mid-size electric SUV in the next fiscal year and it will be powered by a... Key Points
The Tribune IndiaHero MotoCorp to ride in three electric two-wheelers by early 2025
Hero MotoCorp CEO Niranjan Gupta stated that it will take some time to introduce electric bikes through the company's partnership with California-based Zero Motorcycles because the Indian market is still in its early stages of development and is still quite expensive. He further added that future mass-market electric motorcycles will be developed using the partnership's technology. To further augment the EV sales, Gupta commented that the company has increased the availability of Vida to 100 cities as of last week and will enter 100 more cities in the next year. Key Points
Economic TimesRolls-Royce Spectre debuts in North India, price starts from Rs 7.5 crore
Last October, Spectre was unveiled to the world at the Home of Rolls-Royce in West Sussex. Spectre, the first fully electric Rolls-Royce, made its debut in... Key Points
The Tribune Indiaelectric car owners confront a harsh foe: cold weather
In Norway, where nearly 1 in 4 vehicles are electric, drivers are accustomed to taking steps to increase efficiency in cold weather. Longer lines at charging stations in winter have become less of an issue as Norway has built more charging ports and the majority of electric vehicle owners have their own charging stations at home. Cold weather is likely to be less of an issue as companies update electric vehicle models and innovate to solve the challenges posed by extreme temperatures. Key Points
Economic Times
Hybrid cars enjoy a renaissance as all-electric sales slow in US
Sales of hybrids are robust as General Motors, Ford Motor, and Volkswagen walk back ambitious targets for electric vehicles. Stubbornly high electric car prices and worries about charging push car shoppers to hybrids. Hybrids deliver savings at the pump without the need to plug in and have smaller, cheaper batteries than fully electric vehicles. Key Points
Economic TimesTata Motors drives in Punch EV at Rs 11 lakh
With the launch of Punch EV — mid-sized electric SUV — today, Tata Motors aims to catapult the Indian electric vehicle (EV) market and leapfrog... Key Points
The Tribune IndiaWhat electric two-wheeler makers need from Budget
The Indian EV market continues to expand with rising sales of electric two-wheelers (E2W). E2W sales in FY23 nearly tripled compared to FY22, reaching 7,28,054 units. However, subsidies under the FAME Scheme were reduced, leading to a slowdown in sales earlier this year. Despite this, sales are expected to surpass the previous year's figures but fall short of Niti Aayog's target. Industry players emphasize the need for continued government support, including FAME subsidies and EV tax exemptions. Key Points
Economic TimesFrom Honda's Saloon to Hyundai's MOBION: The next-gen electric vehicles revealed at CES 2024
The Consumer Electronics Show (CES) 2024 showcased groundbreaking electric vehicle (EV) concepts. Honda debuted the Saloon and Space-Hub models from its 0 Series. Kia revealed its Platform Beyond Vehicle (PBV) strategy with the Concept PV5, Concept PV7, and Concept PV1. VinFast Auto presented the VF Wild, an eco-friendly and innovative electric pickup truck. Hyundai introduced the MOBION EV with advanced 'e-Corner System' motion technology. Key Points
Economic TimesGovt to build 6,000 km of electric vehicle-ready highways on Golden Quadrilateral
The new e-highways are expected to catalyse the development of charging infrastructure, spurring more people to buy electric cars for everyday commutes. Sales of electric cars last year stood at 83,000 units, shy of the targeted 100,000 mark, as first-time buyers kept away from electric as the only option for their choice of vehicle. Key Points
Economic Times
Budget Announcements for EVs: Can Interim Budget get the 'fame' for EVs roaring?
FAME SCHEME In Budget: The Indian budget has a significant impact on the electric vehicle (EV) industry's growth trajectory. With the demand for EVs increasing, policies and support through budget allocations become pivotal for both the industry and consumers. Recent data indicates a soaring demand for EVs, with Tata Motors projecting substantial sales growth. However, challenges persist, including issues related to FAME schemes and the need for consistent policies and standards. The upcoming budget discussions will likely focus on sustaining incentives, funding extensions, and setting new frameworks for EV growth. Key Points
Economic TimesAyodhya gets ready for green pilgrimage with electric cars for public transport
12 electric cars have been deployed to provide a pleasant journey to VVIP tourists. All these 12 electric cars are parked at Ayodhya Cantt Railway Station, Ayodhya Dham Junction, Maharishi Valmiki International Airport Ayodhya to welcome VVIPs. Key Points
Economic TimesTata Motors shares jump 6% to double money in 2023. What's fueling the rally
A total of 2,11,18,340 Tata Motors equity shares worth Rs 1,655.5 crore changed hands so far. Meanwhile, the rally in the stock was also led by the government's plan to replace 800,000 diesel buses, more than a third of all buses on the road, with electric ones over the next seven years. Key Points
Economic TimesFrom Hyundai Creta Facelift to New Maruti Suzuki Swift: Upcoming car launches in India 2024
Upcoming cars in India in 2024 include the facelifted Mercedes-Benz GLS, the Hyundai Creta, the Mahindra Thar 5-door, the new generation Maruti Suzuki Swift, the Maruti Suzuki eVX, the Tata Harrier EV, the Tata Punch EV, the Tata Curvv EV, the Kia EV9, and the Mahindra XUV.e8. Key Points
mintBest electric blanket: 10 options to have comfortable sleep in winters
Best electric blanket: Bring home a complete comfortable sleeping solution with the electric blankets that are affordable and come with adjustable heating levels. Check out the top options and get home the one that fits your bed and suits your needs. Key Points
mint
Interim Budget 2024: Government considers extending FAME II scheme to FY25
Budget 2024: Additional funds for FAME II can be sought in a vote on account, said a person aware of the matter. The extension would not require multiple approvals as needed for a fresh scheme and will help maintain momentum in the market in the interim, he added. Next year's budget will be a vote on account as general elections are due in April-May. Key Points
Economic TimesWant to buy an electric 2-wheeler? You may have just few days to get a good bargain
If you're considering purchasing an electric vehicle, especially a two-wheeler, time is of the essence to secure a great deal. Numerous electric vehicle manufacturers have introduced special offers on electric two-wheelers exclusively for this month. Additionally, there are uncertainties surrounding the continuation of the FAME subsidy in the near future. Key Points
Economic TimesTiny electric vehicles pack a bigger climate punch than cars
The big shift to tiny electric vehicles is underappreciated in the United States and Europe, where, despite the popularity of electric bicycles and scooters, the focus has been mainly on cars. The global majority, though, doesn't roll on four wheels. Key Points
Economic TimesIndia will address EU's carbon tax issue; will retaliate if required: Goyal
Bharat will address the problem of CBAM with confidence, and we will find solutions. We will see how we can convert CBAM to our advantage if it comes in. Of course, I will retaliate. You need not worry about it, said Commerce and Industry Minister Piyush Goyal on Friday at an event. Key Points
Economic Timeselectric blankets to keep you warm on chilly night? Pick one from top 8 options
Electric blankets are a sweet combination of a blanket and a heater. Bring home one this winter season and experience a warm bliss on chilly days. Choose from our hand-picked top 8 options with multiple features and convenient functionality. Key Points
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Volkswagen CEO: 20,000-euro EV could come in second half of decade
Volkswagen (VOWG_p.DE) has not made a decision on producing a 20,000-euro ($21,714.00) electric car yet, but Chief Executive Oliver Blume is convinced that the company can get there by the second half of the decade, he said at a conference on Wednesday. Key Points
ReutersUS to partner with India in accelerating e-mobility adoption
As per the proposal, which has been forwarded for inter-ministerial consultations, the US will extend $150 million (about ₹1,250 crore) to set up a fund as a payment guarantee for companies supplying electric buses to ailing state transport undertakings (STUs). The two sides are in talks to finalise the modalities of the financial mechanism. Key Points
Economic TimesKarnataka unveils draft EV policy, targets Rs 50,000 crore investment
Karnataka was the first in India to launch the EV policy in 2017. With approximately 2.5 lakh EVs registered and 700 charging stations, the state stands as the third highest in EV registrations nationally. It is also home to several electric vehicle makers like Ola Electric, Ather, Altigreen, and Bounce. Key Points
Economic TimesVolkswagen aims to bring under-$35,000 EV to US in 3-4 years-VW executive
Volkswagen (VOWG_p.DE) aims to bring an under $35,000 electric vehicle to the U.S. market in 3-4 years, while Chinese automaker Nio said it is still "debating" a 2025 entry into North America, senior executives said on Thursday at a Reuters conference. Key Points
ReutersIndia proposes slashing EV import taxes in UK free trade deal
India is considering reducing import taxes on some high-value electric vehicles. New Delhi is contemplating a 30% concessional tariff on up to 2,500 electric vehicles annually imported from the UK, priced over $80,000. The move aims to address a key issue in ongoing trade talks, potentially delaying the agreement's announcement until December. Key Points
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India's Greaves Cotton posts Q2 loss on one-off charge
India's Greaves Cotton (GRVL.NS) on Tuesday reported a second-quarter loss, hurt by a one-time charge relating to a government incentive for electric scooter sales and higher expenses. Key Points
ReutersTesla to build 25,000-euro car in Germany - source
Tesla (TSLA.O) plans to build a 25,000-euro ($26,838) car at its factory near Berlin, a source with knowledge of the matter said on Monday, in a long-awaited development for the electric vehicle maker which is aiming for mass uptake of its cars. Key Points
ReutersLooking beyond electric vehicles: Auto makers race ahead with green-fuel launches
The industry saw 24 CNG PV launches this fiscal as compared to 14 in FY 20. In the case of electric, there were 31 PV launches as compared to 7 models in FY20. Strong hybrids have also seen increased traction, with sales outpacing electric for the first time in last 2 months. Petrol model launches at 111 were lower by 21% and diesel at 54 down by 61%, according to Jato Dynamics. Key Points
Economic TimesAn electric motorcycle startup founded by an ex-Tesla engineer plans for some disruption in e-mobility
The bike will be a mid-premium motorcycle variant running on 200 cc with a top speed of 135 km with NMC, the high voltage battery. It will be priced around INR 2 lakh to 2.5 lakh. Key Points
Economic TimesSee eventual split in platforms for ICE, electric passenger vehicles: Tata Motors' Martin Uhlarik
Tata Motors plans to eventually split the platforms for its conventional engine and electric vehicles to create unique products and fully harness the potential of electric vehicles. The company's Global Head of Design, Martin Uhlarik, stated that electric vehicles developed on traditional platforms are hindered in terms of range and battery layout. Key Points
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Japan's Denso, Mitsubishi electric to invest $1 bln in Coherent's silicon carbide unit
Coherent (COHR.N), a major U.S. supplier of materials used to make chips for the automotive industry, said on Tuesday Japan's Denso (6902.T) and Mitsubishi electric (6503.T) will invest $1 billion in the company's silicon carbide business. Key Points
ReutersIndia demands e-scooter makers return $60 million aid for using China parts
Several electric scooter startups in India are facing challenges and losing investor interest due to their reliance on Chinese parts instead of local sourcing. The government has demanded that six companies return subsidies worth $60 million for violating localization rules. Last year, a series of e-scooter fires prompted an investigation into whether companies were meeting localization norms. Key Points
Economic TimesPlanning to buy an electric vehicle? Consider buying used
The prices of used electric vehicles have fallen significantly over the past year, making them a more affordable option for buyers. Climate legislation passed in 2022 includes a tax credit to encourage more people to buy used electric cars and trucks. Used battery-powered models are 28% less expensive than a year ago. $25,000. Key Points
Economic TimesVolkswagen: to build Trinity model at Zwickau, no further plant needed
Volkswagen (VOWG_p.DE) plans to build its Trinity electric vehicles (EV) at its factory in Zwickau, the company said in a statement on Friday. Key Points
ReutersHow TVS is leveraging tech for a premium play with X, its latest offering
Far away from similarities with the existing iQube, X is built on a new platform. Loaded with a host of connectivity and features, TVS X gives the touch and feel of a premium two wheeler. However, the catch with the newly- launched TVS X is its steep price tag of INR 2.5 lakh. Key Points
Economic Times