Electric Vehicles Sales

Court accepts Mahindra's undertaking to drop '6E' amid tussle with Indigo

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

Blaze in Mercedes-Benz helps South Korea to reshape it's EV policy

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

Govt to expand EV manufacturing incentives after Tesla disappointment

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

EV leasing firm Alt Mobility raises $10 mn from Eurazeo, other investors

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 ...

Pvt consumption back, medium-term economic outlook bullish: RBI Bulletin

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

EV players seek GST cut on batteries, charging services to boost adoption

GST on batteries and charging services needs to be cut to keep electric vehicles competitive and boost customer adoption, FICCI Electric Vehicle Committee Chair Sulajja Firodia Motwani said on Tuesday. Speaking at the sidelines of FICCI National Conference on EVs here, she also stressed enhancing PM E-Drive corpus to support enhanced sales of EVs. "We would be making a recommendation to the GST Council to rationalise the GST taxation on EV-related areas," Motwani said. Elaborating on the demands, she noted, "Currently the GST on charging services is still 18 per cent which we would request to bring down to 5 per cent so that charging becomes more affordable to the consumers." Secondly, the GST on batteries should also come down to 5 per cent, Motwani, who is also the founder and CEO of Kinetic Green Energy & Power Solutions, added. "While EVs attract a GST of 5 per cent, GST on batteries is 18 per cent. The request is to reduce it to 5 per cent so that when consumers buy ...

Odysse to give 40,000 EVs to Zypp as investment deal, says CEO Nemin Vora

City-based electric two-wheeler maker Odysse Electric on Monday said it has secured an order for 40,000 vehicles from EV-as-a-Service platform Zypp Electric as part of an investment deal. Zypp's investment is expected to bolster Odysse Electric's B2B market presence and support the expansion of its dealership network nationwide, the company said without disclosing the nature or quantum of investment. The 40,000 electric vehicles are to be supplied over the period of the next three years, Odysse said. "The new investment in Odysse Electric signifies a pivotal moment. Zypp Electric's deep industry expertise and vision of fleet electrification will significantly accelerate our nationwide expansion plans underscoring the robust B2B and consumer demand for electric vehicles," said Nemin Vora, CEO, Odysse Electric. By increasing production and enhancing distribution capabilities, Odysse aims to increase its production capacity to meet the rising demand for clean and efficient mobility an

Hero MotoCorp to expand EV business with new affordable models lined up

Hero MotoCorp is looking to scale up its presence in the electric two-wheeler space as it gears up to introduce affordable models over the next few months, according to a top company executive. The two-wheeler major is also looking to bolster its presence in Europe as it looks to enter markets like the UK, France, Spain and Italy next year. "In the next six months, there will be a lot of action in the product portfolio (in the EV space). We will be launching products (under VIDA range) in the more affordable segments as well," Hero MotoCorp CEO Niranjan Gupta told PTI in an interaction here on the sidelines of EICMA. Hero MotoCorp's VIDA electric scooter range is currently priced between Rs 1-1.5 lakh, including state subsidies, in India. The company currently sells the VIDA range in over 230 cities and towns in the country, with over 400 sales touchpoints. Gupta noted that the company has done well in the electric segment, having sold 11,600 units in the just concluded 32-day fes

Suzuki's battery EV model 'e-Vitara' to hit market in 2025: Things to know

With the aim to tap into the global BEV market, Suzuki will begin the mass production of the BEV in Gujarat in 2025. The company expects the sales to hit by summer 2025

UK classic sports cars startup RBW EV Cars launches supplier business

CEO Swain said RBW aimed to make 300 of its own-brand EVs annually, and also produce up to 3,000 EV systems for other automakers via its Spirit EV unit

Servotech ties up with Ensmart Power to expand EV charger business in UK

Servotech Power Systems on Wednesday announced its collaboration with UK-based Ensmart Power to expand EV (electric vehicle) Charger business in the UK and beyond. This agreement will capitalise on the rapid growth of electric vehicle adoption in these regions, the company said in a statement. By combining Servotech's innovative EV charging solutions with Ensmart Power's expertise in energy storage and distribution, the partnership aims to provide a reliable and accessible charging infrastructure for consumers, it stated. According to the statement, Servotech Power Systems Ltd, a leading EV charger manufacturer, and UK-based Ensmart Power, a pioneer in critical power, solar, and energy storage systems, have signed a sole distribution agreement to expand their EV charger distribution network across the UK and beyond, including North America. The collaboration will drive the development of green mobility alternatives, contributing to a carbon-neutral transportation ecosystem and sett

Electric car sales slump as misinformation holds back potential buyers

Electric car sales have slumped. Misinformation is one of the reasons

Global EV sales rise 30.5% in Sept as China shines, Europe recuperates

Chinese carmakers are seeking to grow their sales in the EU despite import duties of up to 45 per cent and amid cooling global demand for electric cars

China's stimulus package has EV makers talking 'best golden week' in years

With electric vehicles in China now comprising one-in-three new car sales in some parts of the country, many of those road trips were made in an EV, although government doesn't break out exact figures

British auto industry set to miss 2024 EV sales target, warns trade body

Britain's ZEV mandate, introduced by the former Conservative government, requires at least 22 per cent of an automaker's new car sales to be purely EVs in 2024

Govt launches PM E-DRIVE subsidy scheme for EVs with Rs 10,900 cr outlay

The government on Tuesday launched the PM E-DRIVE Scheme, with an outlay of Rs 10,900 crore for faster adoption of electric vehicles, setting up of charging infrastructure and development of EV manufacturing ecosystem in India. The scheme shall be implemented from October 1, 2024 to March 31, 2026. The EMPS-2024 (Electric Mobility Promotion Scheme) being implemented for the period April 1, 2024 to September 30, 2024 is being subsumed under the PM E-DRIVE scheme. The subsidy under the PM E-DRIVE scheme for electric two-wheelers has been fixed based on battery power at Rs 5,000 per kilowatt hour but the overall incentive will not exceed Rs 10,000 in the first year. In the second year, it will be halved by Rs 2,500 per kilowatt hour, and the overall benefit will not exceed Rs 5,000. Currently, popular electric scooter makers like Ola, TVS, Ather Energy, Hero Vida (Hero Motocorp) and Chetak Bajaj have battery capacities of 2.88-4 kWh in price range of Rs 90,000 to Rs 1.5 lakh. Address

Need to have common platform for ease of EV charging: Mercedes-Benz

Luxury carmaker Mercedes-Benz India has pitched for a common platform to provide real-time information about all available charging stations operated by different service providers to make it more convenient for electric vehicle owners. Mercedes-Benz India MD and CEO Santosh Iyer pointed out that the common app would go a long way in enhancing customer convenience and help in pushing electric vehicle adoption in the country. In an interaction with PTI, Iyer noted that there is a need to democratise charging infrastructure for electric vehicles. "Today, if you buy an electric car, you need 3-4 different apps on your phone. What we are requesting the government is to come up with something like a UPI-based system," Iyer said. India is a leader in digital technology, but when it comes to charging, there are still multiple apps, he stated. "They (apps) don't talk to each other...payment gateways are not in sync..if it can be solved the convenience of EVs will be next level," Iyer ...

China's carrot-and-stick tactics on EU nations starting to pay off

China-made EVs exported to Europe rose 38% in 2023 to 656,000 units, including shipments non-EU countries

Why public EV chargers are almost never working as fast as promised

The chemical wizardry of battery power is more complex than pouring liquid in a tank, and both internal and external factors take a toll on charging speed

Sales of electric vehicles in August decline 13% to 156,199 units

But, despite this decline, August sales still represented the third-highest monthly total this year, following March and July