EV SALES
EU slaps Chinese electric cars with tariffs of up to 38%
The European Union imposed provisional duties of up to 38 per cent on Chinese electric car imports due to alleged unfair state subsidies, sparking concerns of a trade war. The move was criticised by China as "politically motivated" and "protectionist." European countries are divided on the issue, with Germany fearing harm to its auto industry. Talks with China continue, with hopes for a negotiated solution to avoid escalating tensions.
Volvo to launch only EVs in India, plans one new car every year
Swedish luxury carmaker Volvo Cars plans to exclusively launch electric vehicles in India after 2030. Volvo aims to introduce one new electric vehicle annually, starting with the EC30 in 2025. The market for electric cars in India, though currently small, is growing rapidly. Volvo holds a significant share in the luxury EV segment in India and sees potential for further growth in the country's luxury vehicle market.
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.
EV companies seek stability in incentives ahead of FAME-III rollout
The comparison between FAME-II and EMPS subsidies is crucial, as highlighted by a report from the Federation of Automobile Dealers Associations, emphasizing the importance of stable subsidy regimes for the EV industry's growth.
Mid-sized cities to emerge as big demand centre for EVs: Report
Lucknow, Thiruvananthapuram, and Gurugram shine in electric car sales growth. Tier 2 cities emerge as pivotal for electric two-wheeler market. Financial support crucial for tier 3 cities' EV growth. Bengaluru and Jaipur lead in EV adoption. Wealthier cities drive electric vehicle growth, while private uptake fuels tier 2 cities' demand.
Want continuity of policy supporting EVs for next 8-10 yrs: Mercedes-Benz India MD & CEO
Mercedes-Benz India's CEO Santosh Iyer emphasized the need for long-term policy continuity supporting electric mobility for 8-10 years to plan better for zero-emission vehicles. He highlighted the company's increased EV penetration and upcoming launches, urging clarity on GST benefits and infrastructure investments in the Union Budget for sustained growth and commitment to emissions-free mobility.
Tata Motors' passenger EV sales dropped 34 pc in June
Tata Motors experiences sales decline in passenger vehicles, including EVs, in June. Despite challenges, the company foresees a recovery in demand, especially with the upcoming festive season. Tata Motors stands ready to capitalize on growth opportunities, driven by a strong SUV portfolio and expanding presence in the international market.
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.
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.
Electric car sales in India to reach 1.3-1.5 lakh in FY25: Report
Electric car sales surged in FY24, with a forecast of 1.3-1.5 lakh units in FY25. The PV industry expects moderate growth, driven by SUV sales and premium vehicle demand, despite challenges in the entry-level segment.
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.
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.
Why India needs micro EVs ?
The 2nd car. The small car for the city. The wife's car. The college kid’s car. The urban machine - affordable, efficient, compact, cheerful. And that’s something the small EVs can be really good at. Yet, how many EV brands are launching cars that fit that description? And those that are closest to the brief e.g. the MG Comet EV, are not exactly inexpensive.
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.
BYD says to build second EU factory despite EV slowdown, to make hybrid cars
Chinese electric vehicle giant BYD is still committed to building a second factory in Europe and will roll out hybrid cars as the EV market slows down, a group executive told AFP. Stella Li, vice president for Europe and the Americas, also shrugged off a European Union probe that could lead to tariffs on Chinese EVs. "When your competition worries about you, that means that you're super good," Li said in an interview Thursday at the Top Marques auto show in Monaco. That means that Chinese cars have a good quality and are very competitive, accessible," Li said.
Mahindra to focus more on driving range, tech over price in future electric cars
Speaking to ET, R. Velusamy, president, automotive technology and product development at M&M said while TCO (total cost of ownership) approach to EV development or how much one saves after switching from petrol or diesel cars to EVs may work in the short term for “early adopters”, in the long term, it’s the range, technology and overall experience that will help in creating new market segments and to grow sales.
Hybrids catching up fast with EVs; Maruti, Toyota driving growth
Sales of hybrid transmission cars and SUVs are rapidly increasing, challenging electric vehicles in market share. Maruti Suzuki and Toyota offer popular models in this segment, with hybrid vehicles capturing 2.48% of the passenger vehicle market in Q1 2024.
India leads in electric vehicle sales amid global slowdown
Global electric vehicle sales growth faces challenges like capital costs and election uncertainty. US EV sales outpaced Europe, where EV sales declined due to Easter holidays. Germany saw a 29% drop in EV sales, while India's EV market share doubled to 4% in 2023.
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