MASS PRODUCTION EVS
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.
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.
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.
VinFast making a tiny EV for about Rs 8 lakh to change its fortunes. Is it coming to India?
Designed specifically for the Vietnamese and other Asian markets, the VF3 is priced for "mass appeal", according to VinFast. The VF3 might also appeal to Indian families looking for a compact car with a range suitable for getting around in India's crowded cities.
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.
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.
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View: FAME III, tax rationalization, PLI tweak & more - What the Indian EV sector needs from Budget 2024-25
India, as per IBEF, is the world’s third-largest automobile market and supports the EV 30@30 Campaign. The Finance Minister, Smt. Nirmala Sitharaman, will table the Union Budget 2024-25 next month.
Ferrari's first electric car to cost over $500,000, source says
The Italian brand, Ferrari, famed for its roaring petrol engines, has said it will launch an electric car late next year, and the planned price shows its confidence that ultra-wealthy drivers are ready for it, even as mass-market rivals are slashing electrical vehicle (EV) prices amid faltering demand.
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.
Tata Motors to launch multiple electric cars under Avinya brand: Report
Tata Motors showcased the Avinya concept electric car, inspired by a catamaran, in April 2022. The company plans to launch it as a premium electric car brand with multiple products, as reported by Auto Car India.
Rural demand as healthy as urban demand for SUVs: Tarun Garg, Hyundai Motor India
I have been in the industry for 30 years and we had always imagined that the rural customers would prefer smaller cars but there also aspirations are taking over. And also the second thing is that because the infrastructure has really improved and also the dissemination of information has really improved, the aspirations of the rural customers are also shifting them towards SUVs.
Tesla drops reference to its goal of delivering 20 million vehicles annually in impact report
Tesla's latest impact report excludes the goal of delivering 20 million vehicles annually by 2030, shifting focus to robotaxis, diverging from Musk's 2020 target to outsell Toyota by nearly double.
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.
Motherson Sumi Wiring capacity to go up 10% as two new plants get operational in Q1: Management
Anurag Gahlot, CFO of Motherson Sumi Wiring, projects significant market growth for FY25 supported by factors such as Maruti Suzuki and Tata Motors' capacity expansions, India's low car penetration, and the growing Indian middle class. Additionally, the expansion of road infrastructure in India presents opportunities for OEMs and customers.
Xiaomi moves ahead with Tesla-like SUV as first EV hits goals
Xiaomi plans to enter the EV market with SUVs by 2025, starting with the SU7 model. The company aims to reduce reliance on smartphones, taking on competitors like Tesla and BYD, with positive market reception and potential break-even in 2026.
Small, well-built Chinese EV called the Seagull poses a big threat to the US auto industry
The Seagull, a low-priced electric car by BYD, poses a threat to American automakers. Chinese EVs face tariffs in the U.S., prompting concerns about the impact on the auto industry and the need for adaptation and competition.
D2C space: Investments in "not my parents' brands" are #trending
Investors like Titan Capital are shifting focus to Gen Z brands, moving away from traditional brands. This trend is visible in brands such as Perfora, Wakefit, Hocco and Mokobara across various sectors, reflecting the changing consumer behaviour towards new and innovative products. The phenomenon of Gen Z consumers not using their parents' brands is visible in even sectors such as automotive and smartphones.
Tesla lays off more staff in software, service teams, Electrek reports
Tesla laid off staff from various departments, including software and engineering, following the disbanding of the EV charging department. The company is focusing on autonomous software and robotaxis, with layoffs affecting multiple locations and top executives.
Tesla retreats from next-generation 'gigacasting' manufacturing process
Tesla, amid falling sales and increasing competition, has abandoned plans for an innovative one-piece gigacasting manufacturing process. Initially aiming to revolutionize manufacturing and reduce costs, Tesla has opted for its more traditional three-piece method for vehicle underbodies. The decision underscores Tesla's strategic pivot towards self-driving technology over massive EV sales growth, reflecting recent layoffs and executive departures. This shift also comes after the cancellation of the Model 2 and signals a more conservative approach to production innovation.
Hyundai plans to launch its first hybrid car in India in 2026, says EVs long-run strategy
The group, housing Hyundai Motor and Kia Corp, is evaluating a hybrid sport-utility vehicle of size similar to its top-selling, mid-sized Creta SUV in India, said two of the sources who have direct knowledge of the plans.
Hyundai to rev up India capacity to tap rising demand
To expand production, Hyundai Motor India will open its Pune plant - acquired from General Motors - in the second half of next calendar year. The company is upgrading the facility for producing more than 200,000 vehicles annually. Adding the Chennai plant's capacity of 824,000 vehicles, Hyundai Motor India's annual capacity will reach more than one million vehicles a year, the company said.
Hyundai plans to scale up production capacity, introduce more EVs in India
Hyundai Motor Group aims to boost its annual production capacity to 1.5 million units in India, focusing on expanding EV offerings and using India as an export hub. Hyundai plans to launch its first locally produced EV in 2023 and expand its EV lineup by 2030, while Kia will begin local EV production in 2025.
EV firms focussed on high-tech products need more support: Ultraviolette founders
Electric bike maker Ultraviolette is set to begin deliveries of its bikes in European Union (EU) markets like Turkey, Spain and Germany from the second half of this year.
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.
Coconut power for EVs? How startups are racing to decarbonise batteries
With the world betting on electric vehicles, the need for greener batteries has become important to maintain the balance between development and sustainability.
For 3rd term, BJP eyes rooftop solar to get to the masses
BJP's plan for energy independence by 2047 includes rooftop solar outreach, 300 GW solar by 2030, and clean energy excellence center. They aim to challenge China's dominance in renewable energy sector.
What are EV startups doing to ride out weak demand?
US electric vehicle startups are turning to cheaper models, slamming the brakes on their production ramp-up plans and laying off employees to navigate a slump in demand due to steep borrowing costs and high repair expenses for the vehicles.
In EV catch-up race, legacy automakers hitch a lift with Formula E
Formula E has struggled to win over many motorsports enthusiasts, with Formula One still attracting significantly bigger audiences because electric cars lack the sustained power and noise of the internal combustion engine. But legacy automakers with electric teams say the race to maximize or regenerate power - Formula E cars start each race with only 60% of the battery capacity they need and have to generate the rest through braking - helps them develop more efficient motors and invertors, and software to enhance performance and range.
Will Tesla be able to produce a Rs 20 lakh EV for Indian masses?
The announcement by Musk to manufacture in India is likely to be made in the presence of Prime Minister Narendra Modi at the flagship event, although the government or Musk are yet to make this mega news official.
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