EV COMPANIES
£315,000 Ferrari supercars growl a warning for EVs
Since going public in 2015, the Italian company has expanded both the volume and variety of cars it sells, while preserving exclusivity by raising prices, restricting who can order vehicles and resulting in long waiting lists. Around three-quarters of its cars are purchased by existing clients, while almost half the company’s vehicle sales are hybrids.
VCs chase auto parts makers to hitch a ride on EV journey
Smaller component makers for electric vehicles (EVs), many of which started with other businesses before pivoting to their current business mainstays, are increasingly attracting interest from venture capital firms amid a boom in EV sales. The boom in EV sales, as demonstrated in the sales of passenger EVs jumping 91% and of commercial EVs tripling year-on-year (YoY) in FY24, has meant that the demand for parts has also soared.
Tesla deliveries set to fall for second straight quarter
The company is expected to deliver 438,019 vehicles for the April to June period, according to an average estimate based on forecasts from 12 analysts polled by LSEG, seven of whom slashed their expectations in the past three months. The EV maker is expected to announce the results on Tuesday.
Faster nod for power connection to EV charging stations proposed
The Indian government has proposed new guidelines to reduce the approval time for electricity connections for electric vehicle (EV) charging stations. The approval time in metropolitan areas will be cut from seven days to three days, and in municipal areas from 15 days to seven days. In rural areas, the time will be reduced from 30 days to 15 days. The draft guidelines also call for an online single-window clearance system for faster processing of these connections.
Ola working on solid-state batteries, okay with govt tapering off EV subsidies
Ola Electric, led by Bhavish Aggarwal, revolutionizes electric vehicle batteries with cutting-edge technology. Partnering with Beijing Welion New Energy, they achieve a 1000 km range with innovative battery-swapping services. The industry anticipates electric aircraft powered by these advancements, cementing Ola Electric as a pioneering force in the EV sector.
Roadmap to EV 30@30: How can India achieve this ambitious target
India's climate change strategy includes the EV30@30 initiative, aiming for 30% of new vehicle sales to be electric by 2030. This transition enhances air quality, reduces oil dependence, and fosters economic growth. While challenges like limited commercial EV options and charging infrastructure persist, government incentives and rising private investments are accelerating EV adoption.
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Karnataka Industries Minister Patil blames Bommai govt for losing Ather EV project to Maharashtra
Bellad emphasizes the necessity of a leadership change to restore Karnataka's reputation as an investment-friendly state, calling for a shift towards concrete actions and results to attract investments.
Hyundai Inster EV micro SUV launched globally, may come to India as Creta EV. Check specs
The Hyundai Inster EV, with its retro-modern design and advanced features, presents a stylish and functional option for urban drivers. This compact electric SUV combines innovative technology with a spacious interior, making it a compelling choice in the evolving electric vehicle market.
Tata Motors has a Rs 18,000 crore EV plan, reveals MD Shailesh Chandra
Tata Motors is eyeing 30-40 per cent sales from EVs by FY30 and is planning to spend about Rs 18,000 crore to develope an ecosystem for the electric vehicle business. Over the next two years, the company has scheduled for launch Curvv EV, Curvv ICE ( internal combustion engine) and Sierra EV.
Explainer: What's behind Volkswagen's USD 5 billion EV software bet on Rivian?
The tie-up is the latest in a string of deals by Volkswagen Chief Executive Oliver Blume, who took over in September 2022 after the ousting of Herbert Diess. Shifting from combustion engine to electric cars requires expertise in areas where historically Volkswagen has little experience, from charging to batteries to software.
Bharat Forge's Amit Kalyani on what's wrong with India's EV model and whether green hydrogen is the silver bullet
The London session emphasized innovative EV approaches, green financing, and electrification for energy transition. It celebrated the London Stock Exchange's role in supporting Indian companies and capital flows, showcasing financial expertise for India's growth.
iVOOMi S1 Lite electric scooter launched, priced Rs 54,999 onwards
Experience the iVOOMi S1 Lite with its advanced features, powerful motor, and versatile battery options, providing a budget-friendly and efficient electric scooter for your daily commute.
Hyundai's first Indian EV, the Kona, discontinued. Here's the reason why
Hyundai discontinues Kona Electric in India, focusing on mass-market Creta EV. The Kona faced challenges with sales performance. The upcoming Creta EV aims to compete with MG ZS EV and Tata Curvv, offering a range of 400-500 km.
Tesla recalls thousands of Cybertrucks over windshield wiper, exterior trim issues
Tesla is recalling over 11,000 Cybertruck electric pickups due to potential safety hazards including windshield wiper failure impacting visibility and loose trunk bed trim posing a road hazard. This adds to previous recalls for accelerator pedal pad issues. These setbacks come as Tesla prepares for mass production of the delayed vehicle and faces challenges. The company will fix the problems at no cost to affected owners.
Revving up: Fuelled by PLI, Indian automakers eye global EV space, targeting Europe & other developed markets
Indian auto manufacturers are seizing the export opportunity in the electric vehicle (EV) market, driven by increasing demand for cleaner mobility in developed countries and government support. Companies like Maruti Suzuki and Hero MotoCorp are gearing up to export their EV models to Europe, leveraging India's frugal manufacturing capabilities. With India's production-linked incentive scheme and alignment with global standards, automakers aim to challenge Chinese dominance in the EV sector and establish India as an EV export hub.
Electric vehicles: Desi automakers are seizing export opportunities driven by increased demand for cleaner mobility
Domestic auto makers like Maruti Suzuki, Hero MotoCorp, and TVS Motor are seizing the export opportunity in the electric vehicle market. Maruti Suzuki is set to export its first electric SUV to Europe, Hero MotoCorp is launching its VIDA V1 electric scooter in European countries, and TVS Motor is expanding to the European Union with its electric scooter iQube.
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.
BII bullish on Indian EV ecosystem, expects to invest USD 300 mn in 3 yrs: MD Abhinav Sinha
Abhinav Sinha of British International Investment envisions India surpassing China in EV adoption by 2030, ahead of Europe and the US, driven by government support and cost considerations, emphasizing the country's potential for significant growth in electric transportation.
BPCL retail outlets will act as EV hubs to purchase, test ride & experience electric scooters
BPCL has teamed up with Bounce Infinity, an Indian electric scooter manufacturer, to accelerate EV adoption in India by launching "eDrive stores" at BPCL retail outlets. These stores aim to make electric two-wheelers more accessible nationwide. Pardeep Goyal, BPCL's Business Head of Retail, highlighted the initiative's role in supporting sustainability goals and transforming fuel stations into versatile energy hubs.
The secret behind Chinese EV industry's rise: $231 billion in 15 years
China's EV industry received $231 billion in government subsidies and aid from 2009 to 2022. Support per vehicle decreased, with sales tax exemptions being over half the total. Research suggests EU and US tariff responses. EV quality is improving, challenging global automakers.
EU electric car sales drop in May as German demand slumps, industry says
Sales of new battery-electric cars in the EU dropped 12% in May, led by a 30% plunge in Germany. The EU imposed provisional duties on China-made EVs, affecting Tesla's Model 3 price. Elon Musk's company recorded a 34.2% drop in May sales.
Oben Electric offering electric motorcycle in Delhi with huge Rs 40,000 discount. Check Details
Oben Electric opens its first showroom in Delhi, introducing the Oben Rorr electric motorcycle. The EV maker, as an introductory offer, is also offering almost Rs 40,000 discount on its electric motorcyles for buyers in the national capital.
Zelio X Men low-speed electric scooter launched, priced from Rs 64,543
Zelio Ebikes introduces the X Men low-speed electric scooter with lead-acid battery options, aimed at students, college goers, and office commuters.
Inside Tata Motors' plan to stay ahead in the EV race
Tata Motors, a dominant player in the Indian electric car market, is on a mission to solidify its position by implementing an ambitious plan. With a significant increase in electric car sales in the past fiscal year, the company aims to further drive growth by integrating electric vehicles (EVs) and rooftop solar (RTS) systems. Tata Motors plans to promote synergy between RTS and EVs, with the goal of having 50 percent of Tata EV users also utilizing RTS by the end of the decade, a substantial increase from the current 10-15 percent.
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.
China says it never uses EV subsidies barred by WTO
China's Foreign Ministry denies using subsidies banned by the World Trade Organization for electric vehicles (EVs), addressing concerns over its EV industry flooding the U.S. market. Spokesperson Mao Ning stated that China's success in the EV market stems from market laws and comparative advantages, not government subsidies.
SUN Mobility joins hands with IndianOil for setting up battery swapping infrastructure
SUN Mobility announced a joint venture with IndianOil to set up 10,000 battery swapping stations by 2030, enabling electric mobility with 'Battery as a Service' for two, three, and small four-wheelers.
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.
Japanese automakers least prepared for EV transition: Think-tank
The four automakers with the lowest proportion of forecasted EV production in 2030 are all from Japan (Suzuki at 10%, Honda at 24%, Toyota at 29% and Mazda at 30%), with Toyota, Mazda and Suzuki all receiving the lowest performance, says InfluenceMap in its latest report titled, “Automakers and Climate Policy Advocacy: A Global Analysis.
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