Electric Mobility

India's battery electric vehicle market to grow threefold next year: S&P

Battery electric vehicle production is projected to hit 377K units in 2025, says S&P Global Mobility

Hero's Vida V2 launch intensifies competition in sub-Rs 1 lakh EV market

Data from the Federation of Automobile Dealers Associations (FADA) shows that electric two-wheeler retail sales increased from 65,554 units in April to 1,39,159 units in October

No coercive action needed against Hero Electric for now: Delhi HC to SFIO

Hero Electric said it was willing to resolve the dispute with the ministry, which had demanded the disgorgement of Rs 133 crore paid to the company in sops, citing alleged violations of FAME II norm

Lectrix EV plans to raise $100 million to fund next phase of growth

Lectrix EV, the e-mobility arm of SAR Group, plans to raise around USD 100 million (over Rs 800 crore) from external sources next year to fund its next phase of growth, according to founder Rakesh Malhotra. The company has invested around Rs 300 crore in the business from internal accruals so far. "I would say we are within 12 months from raising a sizable round of capital (outside)," Malhotra told PTI in an interaction. When asked to elaborate, he noted that the company could raise around USD 100 million. "By the time we raise capital, we would have put in 50 million of our own capital. So the next round has to be in the in a size which is meaningful and can keep us going for another year or two," Malhotra said. The raised capital would go into developing the business across the country, he stated. The company plans to invest the capital to enhance the dealership network and set up swapping infrastructure in about 100 cities, Malhotra said. "We are at about 200 (dealerships) to

Rivals press the accelerator as Ola Electric's e2W market share shrinks

Electric scooter registrations for the first time crossed the 1 million mark in a year in CY 2024 and stood at 1.03 million at the end of November

Hero MotoCorp US partner in advanced stage of developing mid-sized e-bike

Hero MotoCorp and its US-based partner Zero Motorcycles are in the advanced stage of developing a mid-sized performance segment electric motorcycle, according to a top company executive. California-based Zero Motorcycles specialises in electric motorcycles and powertrains. In September 2022, Hero MotoCorp's board approved an equity investment of up to USD 60 million in the company. In 2023 the companies announced collaboration for the development of premium electric bikes. "As far as EV motorcycles ... we are developing in partnership with Zero Motorcycles..it (bike) will be coming in the middle-weight segment," Hero MotoCorp CEO Niranjan Gupta said in an analyst call. He further said: "I would say it's in the advanced stage. We haven't announced the timeline as yet, but we would be looking at something which would not be too far off." The bike will come in the performance segment, Gupta stated. The company is also expanding its electric scooter range covering multiple price segme

Wardwizard partners with SpeedForce to boost Joy e-bike service, reach

SpeedForce, which operates in over 350 locations and services around 150 vehicles per outlet monthly, will now provide sales and service support for Joy e-bikes

Chennai-based Refex to raise Rs 927 crore through preferential issue

This funding comes at an opportune time as Refex continues to innovate in logistics for ash management, addressing environmental challenges associated with thermal power plant operations

EV sales by Chinese carmakers BYD, SAIC in Europe lowest since Feb 2023

European automakers have called on Brussels to reconsider key climate targets including 2025 fleet-emissions goals that could lead to billions of euros in fines

Mobility sect in Asian mkt to absorb $1.3 trn in green fund by 2030: Report

The mobility sector in emerging markets of South and Southeast Asia is growing so rapidly that it could absorb up to USD 1.3 trillion in green capital by 2030, mirroring China's phenomenal electric vehicle (EV) growth, according to a report. The Powering an affordable EV revolution in emerging Asia report, released on Friday -- ahead of the Climate Week NYC by investors LeapFrog Investments and Temasek alongside electric mobility companies Mahindra Last Mile Mobility Limited and Battery Smart -- showed affordable entry points for electric mobility across the low-income markets of emerging Asia. An analysis of the lifetime cost of owning an electric vehicle versus fossil-fuel powered vehicles highlighted how electric scooters and electric three-wheelers have hit price tipping points across the region, spiking demand for green mobility even amongst first-time vehicle buyers. Case studies from Mahindra Last Mile Mobility Limited and Battery Smart also found that manufacturing and ...

Revolt Intellicorp to launches new electric motorcycle on Tuesday

Live streaming of the grand launch can be viewed today at 05:00 P.M. on Youtube

E-bus drive set for boost, but delay in tendering poses challenge

PM E-DRIVE and PSM schemes instil confidence among e-bus manufacturers

Evaluating 2 extremes for EV launch in 2025: BYD India's Rajeev Chauhan

BYD plans to expand its sales touchpoints, aiming to double their number within the next 6 to 8 months, Rajeev Chauhan said

EVs get Rs 14k crore double shot: Boost for ambulances, buses, trucks

Rs 3,435 crore PSM gets nod; will support deployment of more than 38,000 e-Buses

Cabinet meet: Widened net for Ayushman Bharat, renewed EV subsidy, more

Cabinet clears Rs 5 lakh health cover under Ayushman Bharat for those 70 years and above

EMPS to continue till FAME-III launch, says MHI Minister Kumaraswamy

Last week, Kumaraswamy indicated that FAME-III would be launched within the next two months

Electric Mobility Promotion Scheme 2024 to be extended: HD Kumaraswamy

The Electric Mobility Promotion Scheme 2024, that provides incentives to electric two-wheelers and three-wheelers, will be extended till FAME III is finalised, Union Minister HD Kumaraswamy said on Monday. Speaking at the sidelines of the annual session of Automotive Components Manufacturers Association (ACMA), Kumaraswamy, the Minister of Heavy Industries said it will take some more time to finalise the third phase of the 'Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicle' (FAME) scheme. "It will be extended for another one or two months," he said when asked if the Electric Mobility Promotion Scheme (EMPS), which is coming to an end this month, would be extended. Asking the industry not to panic, he said "it will be extended till the FAME-III is announced." The EMPS was launched in April and was extended till September 30. It was announced in March this year, to be applicable from April 1 to July 31, with an outlay of Rs 500 crore. Later it was extended till ...

FAME-III likely to see vehicles sporting government subsidy branding

Move aims to highlight Centre's electric mobility schemes and ensure greater transparency

Govt expected to clear FAME 3 scheme in 1-2 months: H D Kumaraswamy

The government is expected to finalise the third phase of its flagship electric mobility adoption scheme FAME in a month or two, Union Heavy Industries Minister H D Kumaraswamy said on Wednesday. He said that an inter-ministerial group is working on the inputs received for the scheme, and efforts are being made to address the issues in the first two phases of the Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicle (FAME) scheme. FAME 3 will replace the temporary Electric Mobility Promotion Scheme (EMPS) 2024, which is set to expire in September. The second phase of FAME was rolled out in 2019 with an initial outlay of Rs 10,000 crore for three years. It was later extended up to March 2024 with an additional outlay of Rs 1,500 crore. The initial target of the scheme was to support 10 lakh electric two-wheelers, 5 lakh electric three-wheelers, 55,000 passenger cars, and 7,000 electric buses. "On FAME 3, several suggestions are coming because in FAME 1, FAME 2 whatever

Gensol-Matrix consortium wins Rs 164 crore for first bio-hydrogen project

It announced they have emerged as the lowest bidder for the EPC of India's first biomass to green hydrogen project.