ELECTRIC TWO WHEELER
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.
How financing is turning out to be a bigger roadblock for EVs
Electric vehicle financing presents varying rates across different vehicle types, with banks and NBFCs playing a crucial role in offering competitive options. Understanding the evolving landscape of interest rates and the influence of factors like EV batteries is essential for customers looking to finance their electric vehicles effectively.
Scepticism drives EVs to a disadvantage over ICEs when it comes to financing
India navigates the financing challenges of electric vehicles (EVs) amidst climate change fervor. While electric passenger vehicles (e-PVs) benefit from competitive rates akin to Internal Combustion Engine (ICE) vehicles, e-two-wheelers face higher rates due to brand and credit profile variances. EV financing sees cautious optimism amid evolving battery concerns and nascent resale markets, with recent rate adjustments by banks and non-banking financial companies (NBFCs)
Musashi India begins mass production of e-Axles for EV two-wheelers
Musashi Auto Parts India, a subsidiary of Musashi Seimitsu Industries, has started mass production of e-Axles for electric two-wheelers in India with a Rs 160 crore investment in EV business.
How cheap are electric vehicle (EV) loans? This depends on two factors
EV loan interest rates: For electric passenger vehicles, the rates are competitive with internal combustion engine (ICE) vehicles and sometimes even lower. However, for electric two-wheelers, the rates tend to be consistently higher, varying based on the brand and the customer's credit profile.
Indian electric two-wheelers better than global counterparts, says Ather Energy cofounder
Swapnil Jain, cofounder of Ather Energy, highlighted India's potential to emerge as a global leader in EV technology and design, attributing this progress to the government's 'Made in India' initiative. Jain also expressed optimism about future EV sales. Union Minister of Road Transport and Highways, Nitin Gadkari, was also present at the event.
- Go To Page 1
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.
Indian automobile industry grows 19 pc to Rs 10.22 lakh cr in FY24: Report
In the two-wheeler segment, India witnessed 10 per cent increase in volume and 13 per cent in value. The three-wheeler segment grew by 16 per cent in volume and 24 per cent in value and the commercial vehicle segment rose by 3 per cent in volume and 7 per cent in value.
eBikeGo plans to expand e-two-wheeler fleet to 1 lakh units by FY26
eBikeGo, under the leadership of founder and CEO Irfan Khan, plans to expand its e-two-wheeler fleet to 1-lakh units by FY26, targeting the growing last-mile and e-commerce segment.
Ola Electric gets Sebi nod for public offer
Ola Electric, set for a $6 billion IPO, plans layoffs amid IPO filings by Swiggy and FirstCry.
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.
Magenta Mobility joins hands with with Tata Motors, deploys 100 Ace EV
Magenta Mobility partners with Tata Motors to deploy over 100 Tata Ace EV units, including Ace EV and Ace EV 1000, as part of their MoU from October 2023. Maxson Lewis expresses excitement about their 'Ab Ki Baar Dus Hazaar' program aiming for 10,000 EVs by 2025. Vinay Pathak highlights the milestone in revolutionizing intra-city distribution.
TVS Motor recalls select units of iQube e-scooter. Here's the reason why
TVS Motor Company has recalled a select set of iQube electric two-wheeler units manufactured between July 10, 2023, and September 9, 2023, for a proactive inspection to ensure ride handling over extended usage.
Sachin Bansal exits Ather Energy selling remaining stake to Hero MotoCorp, Nikhil Kamath
Hero MotoCorp bought this stake at an inferred valuation of Rs 5,636 crore. This is a premium to the Rs 4,666-crore valuation at which the company had invested Rs 140 crore in Ather in December 2023.
Hero MotoCorp invests Rs 124 crore into Ather Energy, valuation up 20% at Rs 5,636 core
Hero MotoCorp has invested Rs 124 crore into Ather Energy, a significant electric scooter manufacturer, increasing its share by 2.2% and solidifying its position as the largest shareholder. This investment, made at an inferred valuation of Rs 5,636 crore, underscores Hero's commitment to the electric vehicle market.
FAME 3 rollout soon; Euler Motors fundraise
The next edition of the electric vehicle incentive scheme is likely to be unveiled within months of the new government taking charge. Details on this and more in today's ETtech Top 5.
FAME 3 likely to be rolled out soon with Rs 10,000 crore outlay
The third edition of the Modi government's FAME scheme, worth Rs 10,000 crore, will focus on electric two-wheelers, three-wheelers, and government buses. The inclusion of electric cars for institutional buyers like taxi aggregators is undecided.
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.
Hero MotoCorp plans to expand electric model range to increase customer base
Hero MotoCorp expands its electric two-wheeler segment presence with new models and plans for significant growth. The company aims to enter European and UK markets, launch new scooters, and accelerate growth for FY25 and beyond.
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.
TVS Motor launches electric two-wheeler iQube in Bengaluru
TVS Motor Company unveiled the new TVS iQube variant with a 2.2 kWh battery in Bengaluru, offering fast charging, a top speed of 75 km per hour, and a range of at least 100 km on a single charge.
Hero MotoCorp, India's top two-wheeler maker, has a three-pronged strategy for the EV sector
Hero MotoCorp, led by CEO Niranjan Gupta, aims to boost EV sales with strategic acquisitions. Gupta, with a 30% stake in Ather Energy, plans to expand the VIDA portfolio with affordable variants and enhance the charging infrastructure network.
Wardwizard Innovations' electric 2-wheeler sales double in April to 1,071 units
The company, which manufactures electric vehicles under the 'Joy e-bike' and 'Joy e-rik' brands, had sold 455 units of electric two-wheelers in April 2023, Wardwizard Innovations said in a statement.
Bullet maker Royal Enfield wants to bring an 'amazing' EV but isn't in a hurry
Royal Enfield delays its electric motorcycle debut to prioritize excellence. The Indian e-motorcycle market expands with new players like Revolt, Tork Motors, and Hero MotoCorp joining the race.
Hero MotoCorp planning to launch electric two wheelers in mid and affordable segment
Hero MotoCorp plans to launch electric vehicles in the mid and affordable segment, aiming for international sales growth. CEO Niranjan Gupta expresses optimism about industry growth and Q4 profits, facing competition from TVS Motor, Bajaj Auto, Ather Energy, Ola Electric.
Expect capex for EV components to cross Rs 25,000 cr in next 3-4 years: ICRA
Icra forecasts Rs 25,000 crore investment by auto component industry in 3-4 years for electric vehicle parts, with a strong focus on enhancing EV production, localisation, and addressing manufacturing challenges.
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.
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.
Load More
