INDIA EV PLAN
Mercedes-Benz mulls assembling more EVs in India to meet zero emission, carbon neutrality goals
Mercedes-Benz is considering assembling more electric vehicles at its plant in India. This move aims not only to reduce costs but also to advance the company’s goals of zero emission mobility and a carbon neutral setup. Mercedes-Benz India already assembles its flagship electric luxury sedan EQS at the Chakan unit and is evaluating the localisation of other models based on demand.
River Mobility plans Rs 1,000 crore investment in new EV manufacturing facility
River Mobility is planning a Rs 1,000 crore facility in Telangana to manufacture 5 lakh vehicles annually. They are discussing land options with Tamil Nadu, Karnataka, and Andhra Pradesh. The CEO announced $68 million funding from investors like Yamaha and Toyota. Rs 250 crore is invested in Bengaluru R&D. First retail outlet will open in Hyderabad.
Xiaomi to showcase its first electric car, the SU7 EV, in India tomorrow: Report
Xiaomi will showcase its first electric car, the SU7, in India on July 9 as a market test. The car comes in two versions with different driving ranges and is priced competitively. The event in Bengaluru will also feature other household appliances and new product categories.
Mercedes ready to invest $500 mn in Indian EV biz but it has a condition
Mercedes-Benz supports India's EV policy with condition of consistent 5% GST for 10 years. Plans $500 million investment. Expanding electric range to 6 models. Calls for collaboration in building charging infrastructure. Emphasizes government support for carbon neutrality.
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 EX30 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.
Changes likely in India's new EV policy, may benefit legacy car companies
The move comes as US electric carmaker Tesla Inc is still to make any firm commitment on building a factory in India. The policy, which aims to accelerate the local manufacturing of high-end electric cars, currently supports only fresh investments. Consultations are also on with stakeholders on another key issue troubling carmakers.
Xiaomi's newly-unveiled SU7 EV quietly brought to India, to be showcased in Bengaluru; no news on launch date
The car will be showcased in Bengaluru, although the company has stated there are "no plans" for an immediate launch in India. This exhibition may be a move to test the waters in the Indian car market or to celebrate a decade of Xiaomi's business operations in the country.
India's EV plans to get a policy boost as govt may fast-track 3 big-ticket schemes
The Indian government plans to fast-track three major electric vehicle schemes in its first hundred days, including incentives for local battery production and electric bus procurement under FAME 3. Aimed at boosting clean mobility, these initiatives aim to propel India towards net-zero goals amid rising global demand for EVs.
Tesla unlikely to move forward with India investment, Musk's execs cease contact: Report
Tesla Inc. is unlikely to pursue new investments in India in the near future, sources familiar with the matter said. Following Elon Musk's postponed visit and lack of further communication, Indian officials believe Tesla faces financial constraints. India now focuses on local automakers like Tata Motors and Mahindra & Mahindra to boost its nascent EV market.
India needs to build its own EV paradigm, products, and core technology in the EV stack: Bhavish Aggarwal, Ola
This is the start of the EV penetration. India is the world's largest two-wheeler market. 20 million two-wheelers are sold a year. Over time, EV penetration will grow to a much larger percentage in the overall industry and there is no single company that can achieve that full transition, says Bhavish Aggarwal,
Elon Musk's Tesla Highlights: Self-driving tech, cybertruck & robotaxi plans
Tesla's annual shareholder meeting on June 13 was marked by shareholder approval of Elon Musk's $56 billion performance-based pay package, despite previous legal challenges. Additionally, shareholders agreed to relocate Tesla from Delaware to Texas. Elon Musk, in his characteristic style, outlined ambitious technological advancements at the meeting: he projected rapid progress in self-driving car technology, including the potential for Tesla owners to connect with a future "Robotaxi" fleet for passive income.
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.
Hyundai Motor India plans to launch EV models in future; electric version of Creta by Q4 FY25
Hyundai Motor India Ltd plans to launch four electric vehicle models, including the Creta EV, in the final quarter of the current fiscal year, as outlined in its preliminary IPO filings with Sebi. The company aims to enhance the price competitiveness of its EV lineup by focusing on local production capabilities for critical components such as cells, battery packs, power electronics, and drivetrain, and establishing a localized EV supply chain.
Hyundai flags concerns with 'changes' by Indian govt ahead of planned Rs 25,000 crore IPO
Hyundai, which plans to raise Rs 25,000 crore through the Indian stock market by selling a 17% equity stake in the local unit, flagged the importance of stable policies for confidently making technological upgrades. They also highlighted concerns about localisation norms like PLI for automotive technology, aiming to reduce import dependence and lower manufacturing costs with significant initial capital investments.
Boost for Hyundai Motor export plans, as auto co plans to launch slew of EVs over next 4 years
Hyundai Motor India Ltd (HMIL) is planning a ₹25,000 crore IPO to drive its parent company's strategy of making India a key export hub. The company plans to introduce nearly half a dozen electric vehicles for local sales and exports as part of this ambitious strategy.
Ather Energy plans to build third plant in Maharashtra's Aurangabad: Report
Ather Energy reportedly planning to invest about Rs 1,000 crore in the plant. Spanning across 100 acres in phases, the plant will be situated in Bidkin town within Aurangabad. Ather's existing assembly and battery plants are currently located in Hosur, Tamil Nadu.
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.
Hyundai sets up EV charging station in Chennai, plans 100 facilities across Tamil Nadu
Hyundai Motor India Limited inaugurates its first fast electric-powered vehicles charging station in Chennai, as part of a plan to install 100 such facilities across Tamil Nadu.
JLR plans to start making flagship Range Rover model in India
The local assembly will translate into a 18-22% price reduction, Amba said. The Range Rover will drop to Rs 2.6 crore from Rs 3.3 crore while the Range Rover Sport will fall to Rs 1.4 crore from Rs 1.8 crore. India levies a duty of 15% on completely knocked down kits and more than 100% on imported models.
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