E CARGO VEHICLES
Budget 2024: EV makers seek stability in incentives, call for long-term subsidy assurance before FAME III roll out
Budget 2024: The Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme was originally launched in 2015 to encourage the adoption of electric and hybrid vehicles. Under it, a subsidy was provided to EV makers who used it to lower the prices of their products. The second edition, FAME-II, was introduced in 2019 and went on till March 2024 when it was scrapped. There has since been a steep slowdown in EV sales, according to a report by the Federation of Automobile Dealers Associations.
Flight to the Future: Noida International Airport's Asia-Pacific transit dream set to be ready by November-end
The Noida International Airport is set to become India's first transit hub and a major civil aviation facility in the Asia Pacific region. Modeled on Zurich Airport, this greenfield project in Jewar, Uttar Pradesh, will feature advanced passenger and flight handling capabilities. The airport will also include a multimodal cargo hub, operational by November 2024, developed by Air India SATS. Recruitment and infrastructure developments are underway to ensure the airport meets international standards.
Smallcap EV stock surges 20% after winning a billion-dollar Philippines deal
Shares of small-cap EV manufacturer Wardwizard Innovations and Mobility (WIML) soared by 20% on the BSE during Monday's trading session, reaching the day’s high of Rs 62.71. This surge was fueled by the company's announcement of securing a $1.29 billion contract from a Philippines-based company, Beulah International Development Corporation.
First to indicate good or bad about economy, as it stays strong, ignore noises about politics: 6 auto stocks with upside potential of upto 34 %
Unlike the US and some other western countries, where there is a separate transportation index which also has an element of logistic companies in it and is watched very closely, in India we don't have a very popular transportation index. The reason why transportation index numbers are extremely important is because there is enough historical evidence to show that auto industry numbers lead indicators of what is happening in the economy. That is why if one looks at the history of the stock market, the rallies which are led by the transportation and auto sector are more durable rallies. Especially the ones which are led by large commercial vehicles. Demand for large commercial vehicles would only increase when there is higher economic growth as more goods get moved from one place to another when the economy is doing well. At this point and in near term there will be noises about political instability, but better ignore it.
Anand Mahindra unveils India's first electric flying taxi prototype, praises IIT Madras' innovation
Anand Mahindra, Chairman of the Mahindra Group, unveiled India's first electric flying taxi prototype, highlighting IIT Madras' role in innovation. The ePlane e200, developed by the ePlane Company at IIT Madras, aims to revolutionize intra-city commute and cargo transportation. With a travel range of 200 kilometers and speeds up to 200 kmph, the ePlane e200 signifies India's progress in electric air mobility and its emergence as an innovation hub.
A play on restructuring and higher growth: These auto stocks can deliver more than 18% return
In the last four days of strong volatile moves, one sector which has been able to keep its head above the water is the Auto sector. Is it because of results which are expected to be good or it is rotational trade which is taking place, is the question. Whatever might be the reason, after remaining under pressure for one or the other reason, the auto sector has been witnessing a transformation, right from restructuring to a slew of launches, coming from companies. There is a high probability that this trend of restructuring is likely to continue. Check out Stock Reports Plus, powered by Refinitiv, for price targets of over 4,000 listed stocks along with detailed company analysis focusing on five key components - earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores. SR+ Reports is a complimentary offering to ETPrime members.
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Tata Motors launches Tata Ace EV 1000 mini truck
Tata Motors launched the Ace EV 1000 mini-truck for last-mile mobility with a 1-tonne payload and 161km range. It features advanced technology like the EVOGEN powertrain, robust aggregates, and a 7-year battery warranty.
TVS Motor Co expects 25-30% of 2-wheeler sales to come from EVs: MD Sudarshan Venu
TVS Motor Company is expecting electric vehicles (EVs) to account for 25-30% of its total two-wheeler sales in the next two to three years, according to Managing Director Sudarshan Venu. The company plans to invest Rs 5,000 crore in the design, development, and deployment of future technologies, products, and digital capabilities. In FY24, EV sales grew by 101 per cent, reaching 1.94 lakh units. TVS plans to introduce another electric scooter this year, and its EV presence will be across both scooters and motorcycle segments.
Amazon unveils first electric seaport trucks amid push to slash tailpipe emissions
The e-commerce giant already has eight of those semi trucks in use at the Los Angeles/Long Beach port complex, where every so-called drayage truck must be zero-emissions by 2035.
Auto stocks, mirror of economic growth: The not so bullish analysts would be proven wrong ?
Analysts projects are not bullish, they hardly expect any gains, but the hard fact, sometimes staying glued to excel sheet and earning projections makes one cautious more than it is required. Even the recent price moves are indicating that the street is getting ready to re-rate part of the auto sector, or rather has already done it. Whether it be large OEM or auto ancillary companies. Should one be ready to ignore the pessimism of analysts and move to take exposure for both a tactical trade and long term investment ?
Motovolt Mobility bets big on newly launched e-scooters
Motovolt Mobility launches e-scooters at Taratala factory, priced at Rs 1,22,000. The e-scooters can be converted from cargo to passenger vehicles, catering to different consumer segments. Motovolt collaborates with eROCKIT and Swobbee for manufacturing and battery swapping. West Bengal Transport Secretary emphasizes e-mobility as the future of sustainable development.
Yulu raises $19 million from Magna and Bajaj Auto, eyes expansion & new product launch
Yulu Bikes, a shared mobility services provider, has secured $19.25 million in funding from existing investors Magna and Bajaj Auto, with whom it has a strategic partnership for electric vehicle development. The funds will support the launch of a new product, expansion efforts, and technological advancements. Yulu has witnessed significant demand growth, particularly in Gurugram and Mumbai, prompting the need for additional capital to accelerate expansion plans.
Scandron receives DGCA Type Certification for logistics drone
Scandron receives DGCA Type Approved logistics drone certification, enabling efficient delivery for critical medical supplies and streamlining e-commerce logistics. Partnership with CriticaLog India introduces drone-based solutions. Manufactured in Bengaluru facility with a command and control centre.
From 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.
BluSmart Mobility taps Tata Motors, MG Motor India for 3800 e-cars
This will be the second biggest induction of EVs by the startup in 2023. In March this year, Gensol Engineering, the BSE-listed engineering solutions provider, had raised Rs643 crore from state-run Power Finance Corp. to purchase 5,000 e-cars from Tata Motors and MG Motor India, and to lease them to sister company BluSmart and a few of its other customers.
Tiny 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.
For uncertain and volatile times: 7 largecap stocks with right mix of RoE & RoCE
For most, market movement this week may not appear volatile, but the fact is last week was pretty much very volatile both at the index and market breadth level. First three days of decline and then two days of up move. But the underlying bias of the market is still bearish as even when the Nifty was trading in green, the market breadth was not very positive. So it would be better to be selectively bullish and put more checks and balances both in terms of quantitative and qualitative parameters while looking at stocks.
These largecaps have ‘strong buy’ & ‘buy’ recos with upside potential of over 20%
In volatile markets, where there is a readjustment in valuation across midcap space, it is only a matter of time that the concept of relative valuation will come into play and large caps will get more attention from the market. Stocks from different sectors are making to the list, this week, stocks from Oil refining and marketing, private banks, insurance, auto ancillary and fertilizer space. ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". The screener applies different algorithms for all BSE and NSE stocks.
Piaggio sells about 26,000 electric 3-wheelers since 2019
This year, the Italian automaker Piaggio & C. SpA's subsidiary Piaggio Vehicles Pvt Ltd has sold over 26,000 of its electric three-wheelers. The Indian affiliate sold over 12,000 units in retail last year. The announcement was made during the launch of Ape E-city FX NE Max, a three-wheeled passenger electric vehicle (EV), today in Tamil Nadu.
Altigreen aims to sell 1,500 units of three-wheeler cargo neEV Tez by year-end
Altigreen on Thursday launched its three-wheeler cargo Tez in the Delhi market, when 200 NeEV Tez vehicles were delivered to Magenta Mobility, an e-mobility services provider for goods transport. Besides, the company also has plans to expand in markets such as Ahmedabad, Kolkata, Bengaluru, Hyderabad, and Chennai.
Mukesh Ambani-backed Altigreen launches commercial 3-wheeler with rapid charging
The commercial vehicle manufacturer's neEV Tez features 3-in-one charging that lets the user choose between normal, fast and rapid charging options.
Reshaping urban logistics with electric vehicles and last-mile solutions
To foster a sustainable future and mitigate the environmental impact of logistics, reshaping urban logistics with the adoption of electric vehicles (EVs) and innovative last-mile solutions is necessary. The use of EVs and other sustainable delivery alternatives not only reduces greenhouse gas emissions and operational costs but also provides better last-mile delivery efficiency.
PFC to provide Rs 633-crore loan to Gensol Engineering for 6K electric vehicles
The passenger electric vehicles will be leased to Blusmart Mobility to expand its fleet of ride-hailing cabs. The first tranche of the loan has been disbursed, and the first lot of electric cabs has hit the roads of the national capital, the companies said in a statement. “E-mobility adoption is going on at a fast pace in the country, and we believe that there is a huge potential in this field,” PFC Chairman and Managing Director Ravinder Singh Dhillon said.
New variant of e-scooter Quantum Bziness launched at Rs 99,000
Electric vehicle startup Quantum Energy has announced the release of its latest variant for delivery fleets, the Quantum Bziness, with a starting price of INR 99,000 ($1,335). The firm has collaborated with NBFCs ICICI and HDFC to provide finance for fleet drivers and last mile delivery outfits. The scooter has a range of up to 130 km on a single charged battery and top speed of 55 kmph. The new model has upgraded features such as an LFP battery, wider seat and stronger cargo rack, and comes with a three-year or 90,000KM battery warranty.
Greaves Cotton announces plans to foray into electric powertrains; unveils e-scooter, electric cargo vehicles at the Auto Expo 2023
The company at the event unveiled three two-wheelers under Ampere brand series -- Ampere Primus, Ampere NXG and a multi-utility scooter Ampere NXU which can be also used for deliveries. In the commercial three-wheeler segment, the company unveiled an electric passenger vehicle Greaves ELP, cargo EV Greaves ELC and a futuristic cargo concept Greaves Aero Vision.
Omega Seiki Mobility to supply over 5,000 electric cargo 3-wheelers to Porter
"We are seeing the last and middle-mile segment for the trucks growing significantly stronger with demand coming in not just from the e-commerce players but also from sectors such as FMCG, dairy, construction and auto components, etc," Omega Seiki Mobility Founder and Chairman Uday Narang told PTI.
Magenta ties up with Euler Motors to deploy 1,000 e-cargo vehicles in key cities
Under its eFaas (electric fleet as a service) operating model, EVET offers a comprehensive end-to-end solution, Magenta said in a statement. The partnership has already deployed 100 EVET e-cargo three-wheelers in Bengaluru. The fleet is meant for mid-mile and last-mile delivery, servicing e-commerce, food delivery, pharma and other last-mile logistics clients, it said.
EV maker OSM to supply 1,500 e-cargo 3-wheelers to logistics provider Zyngo for last-mile delivery
OSM said it will commence a second shift at its main manufacturing facility at Faridabad from April to cater to the increased demand for green vehicles driven by the COVID-19 pandemic induced lockdowns and the rising demand by e-commerce marketplaces.
Mahindra launches electric three-wheeler tagged at Rs 1.44 lakh
The launch of the e-Alfa Cargo marks the company's entry into the rapidly growing e-cart segment.
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