E2W
What's draining the juice out of electric two-wheeler makers' battery
Sales of e2Ws plummet due to policy inconsistencies, supply chain issues with Chinese suppliers, and expectations for FAME III rollout, impacting top manufacturers like Hero Electric, Okinawa, and Ampere.
Capture the theme at the right time: Is investment in EV a good long-term bet?
The rise in EVs can be attributed to two main factors, first, a substantial global push by governments to achieve net zero emissions through various policy measures; and second, a nearly 90% decrease in battery costs over the past ten years, which has made EVs more affordable and, as a result, brought them closer to cost parity with internal combustion engines (ICE)
Ola plans to launch four electric motorcycles, to start delivery of Ola S1 X models from FY25
Ola Electric has received SEBI approval for its IPO, aiming to raise up to Rs 5,500 crore through fresh equity and an offer for sale. The EV maker plans to expand its product line with new motorcycles and scooters while boosting production capabilities.
EV sales soar 40.31 per cent in FY24, two-wheelers lead the charge
Electric two-wheelers (E2Ws) and electric three-wheelers (E3Ws) were the main contributors, representing 94 per cent of all EV sales. The E2W segment led the charge, selling 1,009,356 units, showing a 29 per cent year-on-year growth and capturing 57.60 per cent of total EV sales. The introduction of advanced models comparable to internal combustion engine vehicles played a crucial role in this growth.
Lectrix EV to invest INR 100 crore in FY25; plans multiple launches to strengthen EV market position
The company is planning to launch its new 2W model pre-Diwali and one post-Diwali. Pritesh Talwar, President - EV Business at Lectrix EV is optimistic about creating its name in the 2W market as he believes there is enough space to sustain and create a brand image for multiple companies.
Support to three EV 2-wheeler makers may be restored
The government after an initial probe into violation of vehicle localisation norms mandated under the Faster Adoption & Manufacturing of Electric Vehicles in India (FAME India) scheme issued notices for recovery of ₹469 crore subsidy distributed to these companies for sales made between 2020 to 2023.
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Companies knowingly violated FAME subsidy scheme, finds panel
The report, submitted by the panel earlier this month, counters findings of an earlier probe by a joint secretary in the Ministry of Heavy Industries (MHI) that said some key terms in the FAME were not clearly defined.
Govt keeping top EV makers accused of FAME subsidy misappropriation out of the new scheme: Report
EV makers face subsidy dispute. EMPS 2024 offers Rs 10,000 per two-wheeler. TVS Motor and Ather show notable sales growth in FY24, while electric vehicle manufacturers experience production decrease amid subsidy conflict.
Odysse Electric looking to raise USD 5-10 million for expansion
Odysse offers seven vehicle models with 12 variants, comprising both high- and low-speed electric scooters as well as bikes. he company has already started the process to secure external funding, which is expected to be completed by the current quarter of this fiscal, Vora said in an interaction with PTI.
Ola to slash S1X's price?
Ola's S1X electric scooter, with 143km range and 90 km/hour speed, gained popularity with record registrations. CEO Bhavish Aggarwal hinted at further price cuts, driving increased sales and market share.
Battle of e-scooters for customers moves to India’s hinterland
The electric scooter segment in India is set for a fierce battle between legacy and new-age OEMs with the launch of Ather Energy's Rizta. Distribution and finance options in small towns and cities will determine the outcome. Legacy OEMs like TVS and Bajaj are expanding their networks, while new-age OEMs face challenges in rural areas due to financing limitations. Offering affordable solutions and innovative financing options could change market dynamics in favor of new-age OEMs.
Small towns make it big for Ather’s electric two-wheeler sales
Started in 2013, Ather Energy, the fourth largest electric two-wheeler maker, has sold 2.3 lakh units cumulatively. The company sold more e-scooters in Tier 2 and 3 cities than in the metros and Tier 1 cities put together.
Green light for EV cos to claim subsidy under new scheme
Hero MotoCorp, Bajaj Auto, TVS, Ather Energy, Ola Electric Mobility, and Kinetic Green have been approved to sell two-wheelers and claim subsidies under the Electric Mobility Promotion Scheme (EMPS), 2024. The scheme, which aims to support 372,000 electric vehicles, is a fund-limited initiative from April 1 to July 31, 2024.
Electric two-wheeler sales surge by 33.3% in 2023-24, Ola tops chart
Electric two-wheeler sales soared in 2023-24, led by Ola Electric. Major players like TVS Motor and Bajaj Auto made significant strides. Despite challenges for some OEMs, the new EMPS aims to promote EVs with lower subsidies.
New Rs 500 crore scheme to promote electric mobility kicks in from April 1
The Rs 500 crore EMPS 2024 scheme aims to boost electric vehicle adoption till July, supporting 3,72,215 EVs with incentives for various types of vehicles and advanced batteries, aligning with the Atmanirbhar Bharat initiative.
India's electric two wheeler industry faces uncertainty as subsidies decline
The e2w OEMs have to contend with lower financial support from the government in the next fiscal. They also have to face increasing competition from the petrol counterparts of the companies which have distribution and brand strength. These factors drive the e2w OEMs to launch products more affordable to prospective customers.
Ather eyes larger pan-India presence with new family scooter
With Rizta, the electric scooter maker is hopeful of targeting a larger buyer base and growing its market share in the northern and western regions. Ather is also confident that its efforts in value engineering have done the trick in the overall cost management efforts.
Electric 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.
Rs 500 cr electric-mobility scheme shows govt's continued thrust on EV: Experts
Ministry of Heavy Industries has announced the new scheme to promote e-mobility in the country with an outlay of Rs 500 crore for four months beginning April 2024. The new scheme is for 2-wheelers and 3-wheelers. Commenting on the government's decision, Srikumar Krishnamurthy, Senior Vice President and Co-Group Head - Corporate Ratings, ICRA said the scheme is a favourable move towards the acceleration of the electrification pace in the country.
Centre announces new scheme to subsidise electric two and three wheelers
The centre on Wednesday announced a new scheme to promote sale of electric two and three wheelers. 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.
Electric two-wheeler market sees huge 24% growth in February. Ola at top of sales chart
The electric two-wheeler market in India experienced a surge in registrations in February 2024, indicating the growing traction of electric vehicles. Ola Electric led the pack with the highest registrations and market share, followed by TVS Motor, Bajaj Auto, and Ather Energy.
FAME-II subsidies for e-vehicles till March-end or until funds are available: Govt
To give a further push to clean mobility in the country, the Ministry of Heavy Industries has announced that the outlay of the Faster Adoption and Manufacturing of Electric Vehicles in India (FAME-II) programme has been enhanced from Rs 10,000 crore to Rs 11,500 crore, an official statement said.
What 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.
Volume ramp up, robust supply chain: What Bajaj and TVS can do to make EV biz count
Margin gains and volume share within the overall product portfolio of EVs are still small. And the EV production lines of the ICE OEMs continue to run from the profits they make by selling petrol scooters and motorcycles. This was despite subsidies which have been available under the government’s FAME (Faster Adoption and Manufacturing of Electric Vehicles) scheme, the second edition of which ends in March this year.
Electric 2-wheeler sales up 17% in India as electrification improves
In the E2W space, Ola Electric (Ola) remained the market leader by volume and gained market share, reaching 40 per cent. Ola gained the most market share, followed by Bajaj Auto while TVS Motor lost the most, according to BNP Paribas India EV report.
How 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.
Godawari forays into E2W segment, launches first electric scooter Eblu Feo at Rs 99,999
Godawari Electric Motors has launched its first electric two-wheeler, the Eblu Feo, priced at Rs 99,999. The scooter comes with a 2.52 kWh battery offering a range of 110 km. It also features three driving modes and a top speed of 60 km/hour. Deliveries will begin on August 23.
TVS Motor inches closer to Ola in E2W market as iQube becomes more popular
TVS Motor Co. is closing the retail market share gap with Ola Electric in the two-wheeler e-vehicle sector with 19.5% to Ola's 24.8% according to Vahan vehicle registration. This follows Ola's drop in volume share growth, prompting a price reduction on its S1 Pro electric scooter. TVS' electric scooter iQube, which now makes up 5% of its total two-wheeler wholesale volume, has increased in popularity. There is potential for improvement with e-2W penetration increasing 260 basis points from the previous year to 4.5% in FY23.
Kinetic Green Energy partners with Aima Tech to develop electric two-wheelers
As part of the collaboration, Aima will assist Kinetic with design and support for modifications and rapid localisation of the models to suit Indian customer requirements.
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