Electric Vehicles Sales

Hero Electric, India's first e-scooter maker, enters insolvency under IBC with Rs 301 crore in admitted claims; bidders invited as creditors decide its fate amid EV market growth

Tata Motors is offering an exchange bonus of up to Rs 50,000, 100 per cent on-road financing with zero down payment, and more

Matel Motion & Energy Solutions on Wednesday said it has partnered with Honda Power Pack Energy India to integrate its ePowertrain with the latter's swappable battery solution. This collaboration aims to provide electric vehicle (EV) manufacturers with swappable battery solutions, Matel Motion & Energy Solutions Pvt Ltd (Matel) said in a statement. "This initiative will play a crucial role in driving EV adoption across India by providing a practical and cost-effective solution for vehicle manufacturers and users alike," Matel Co-founder and Director of Business Development & Partnerships, Netaji Patro said. The introduction of swappable battery technology addresses challenges of range limitations and lengthy charging time, particularly in the commercial segment where operational downtime translates to lost revenue, by enabling users to exchange depleted batteries for fully charged units at designated swapping stations in minutes. Honda's swappable battery, backed by ...

Government-owned fuel retailers Indian Oil, Bharat Petroleum and Hindustan Petroleum have together installed one of India's largest EV charging networks across at least 18,000 locations

Global sales of fully electric vehicles and plug-in hybrids (PHEV) rose 17.7 per cent year on year to 1.3 million in January, the third consecutive month of slowing growth

M&M is expected to report strong performance for Q3FY25, driven by solid growth across its automotive and tractor segments

Tata Motors is planning to cover the majority of the segments with its upcoming EVs, targeting 30 per cent of its overall sales to come from EVs by 2030

Electric vehicle sales in India crossed 14.08 lakh units in 2024, achieving a market penetration rate of 5.59 per cent, up from 4.44 per cent in the previous year, Union Minister H D Kumaraswamy said on Saturday. The minister asserted that the upward trend in EV adoption underscores the growing public trust in electric vehicles, as well as the positive impact of government incentives and industry innovation. "Total EV sales in calendar year 2024 reached 14,08,245 - a penetration of 5.59 per cent, up from 10,22,994 in calendar year 2023, which stood at 4.44 per cent," the minister for Heavy Industries and Steel said at a Federation of Automobile Dealers Association (FADA) event here. He observed that despite global uncertainties, the country's automotive sector has continued on a growth trajectory. "In the calendar year 2024, the industry collectively retailed 26.1 million vehicles, marking a robust 9 per cent year-on-year increase," Kumaraswamy said. Talking about the Production

These two models are expected to meet the electrification needs of consumers and set a new benchmark in the green transportation industry in India

Bharat Mobility Expo 2025 kicks off: PM says EV sales likely to grow eightfold by the decade's end

Commercial electric vehicle maker Euler Motors on Wednesday said it has secured up to USD 20 million in debt from responsAbility Investments AG to ramp up production and distribution networks as well enhance research and development capabilities. The fresh capital infusion comes close on the heels of the company closing its Series C funding round, raising an additional Rs 200 crore from investors including British International Investment, Blume Ventures, and Piramal Alternatives India Access Fund, Euler Motors said in a statement. The USD 20 million in debt funding from responsAbility Investments will help accelerate Euler Motors' mission to electrify India's commercial vehicle segment, supporting the growth of the recently-launched four-wheeler Storm EV for logistics and e-commerce clients, it said. "This new funding will boost us to scale further, expand our reach, and continue delivering sustainable, high-performance solutions that meet India's unique logistics needs," said ...

Hyundai Motor India Ltd sees a triggering of acceleration in the electrification of the passenger vehicles market in the country in 2025 and 2026, according to company COO Tarun Garg. Set to enter the mass market electric vehicle segment with the EV version of its popular SUV Creta, the company, which plans to bring four EVs in the future, is also looking at different segments, even below the mid-sized SUV segment. "India is at an early stage of electrification. Last year, we ended with about 2.4 per cent electrification. I personally feel that 2025 and 2026 are going to be great trigger points in terms of electrification, and Creta EV is going to drive it," Garg told PTI video here. In 2024, the Indian passenger vehicles segment witnessed record sales of around 43 lakh units. Citing an internal study by the Hyundai Motor India Ltd (HMIL) and also based "on some of the external consultants", he said by 2030 EV penetration could be 17 per cent. In an interaction with reporters he

BYD and contractor Jinjiang Group have agreed to assist and house the 163 workers in hotels until a deal to end their contracts is reached, Brazil's Labour Prosecutor's Office said

The PM-E drive, scheme launched in October, excludes subsidies for electric four-wheelers and hybrid vehicles, significantly impacting equipment manufacturers

China continued to lead sales growth, accounting for almost 70 per cent of total EV sales in the month, while registrations in Europe showed a marginal decline

Mahindra agrees to rebrand its electric SUV, but maintains it will challenge IndiGo's claims; next hearing in the case in April 2025

Mercedes-Benz blaze was undoubtedly an unfortunate event, but it cast a much-needed spotlight on the issue and sparked calls for stricter regulations

Under the policy announced in March, an automaker investing at least $500 million to manufacture EVs in India with 50 per cent of components sourced locally is entitled to a huge cut on import taxes

Commercial EV leasing and asset management firm Alt Mobility on Wednesday said it has secured USD 10 million funding in a Series A round led by European VC and PE funds and existing investor, Eurazeo. The latest funding round also saw the participation from other investors including Shell Ventures, Twynam Earth Fund and EV2 Ventures, Alt Mobility said. The fresh capital infusion would help the company in its next phase of growth including expanding the capabilities of its digital asset management platform and driving standardization of battery technology, among others, it said. "Alt Mobility has secured USD 10 million in a Series A funding round led by existing investor Eurazeo, and (it also) saw participation from other existing investors including Shell Ventures, Twynam Earth Fund and EV2 Ventures," the company said. Alt Mobility currently owns a fleet of 10,000 vehicles across 20 cities in India leased to fleet operators and individual drivers. The company said it is ...

Record production estimates for kharif foodgrains as well as promising rabi crop prospects augur well for farm income and rural demand, going forward