PREMIUM EVS INDIA
Chorus grows for angel tax repeal; policy push for EVs
Startup Inc’s calls to do away with angel tax have found support from the government. This and more in today’s ETtech Top 5.
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.
MG Motor to launch its most premium electric car, Cloud EV, later this year : Report
MG Motor is gearing up to launch a new electric car in India later this year, with reports indicating that the MG Cloud EV will make its debut in September. The price range for the vehicle is expected to be below Rs 20 lakh, although some sources suggest it could be closer to Rs 25 lakh. If priced competitively, the Cloud EV will compete against popular models like the Tata Nexon, BYE E6, and the Mahindra XUV400 in the Indian market.
Nomura raises M&M stock target prices, sees upside potential of 13.5%
Global brokerage firm Nomura has increased the target price for Mahindra & Mahindra (M&M) shares to Rs 3,374 from an earlier Rs 2,929 as the company has set bold targets across the group to scale up over FY25-30.
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.
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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.
Tata Motors eyes 4-6% increase in PV market share by 2030
The introduction of new nameplates is expected to boost volumes and operating leverage and revenues across PV and EV, bumping up realisations at the portfolio level. It also sees softening of battery prices to drive higher profitability for EVs.
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.
Utpal Sheth on key megatrends that can shape India's future growth
“Even one megatrend will create multiple types of opportunities, multiple types of companies and business models that you will be able to participate in. I think the way the financial savings in the country will get channelised will be another megatrend,” says the CEO of Rare Enterprises.
Bajaj Chetak 2901 launched in India under Rs 1 lakh. Check price, features
Bajaj Auto has recently unveiled the latest addition to its electric scooter range, the Chetak 2901. Priced at INR 95,998 (ex-showroom, Bangalore), this model comes in five vibrant colors: Red, White, Black, Lime Yellow, and Azure Blue. The Chetak 2901 is equipped with a sturdy metal body and advanced technological features, making it a standout in the electric scooter market.
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.
EV ride-hailer BluSmart seeks $300 million to expand car fleet
BluSmart, India’s top electric cab operator, aims to raise $300 million to expand its fleet with cars from top manufacturers, targeting major cities for premium service. The company focuses on electrification and sustainability efforts in India, with plans to double revenue by 2025.
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.
Iconic British car brand Jaguar Land Rover plans to ride India's luxury boom
The luxury carmaker plans to launch at least half a dozen new models from the JLR stables, both ICE and EV (internal combustion engines and electric vehicles), as it seeks to capitalise on the growing number of high-net-worth individuals in the country. This is the most aggressive push by JLR since it entered the Indian market in 2009.
Kia unveils its 4th electric car, the EV3. Expected in India next year
Kia has unveiled the EV3, a new compact electric SUV with two battery options and advanced features. It will first launch in the international market before potentially entering India in 2025.
Auto component industry to double investment to $7 billion; Craftsman Automation could give 19% return
Auto component industry to double investment to $7 billion; Craftsman Automation could give 19% return. Premiumization trend drives shift to 'premium' vehicles. UV mix in PVs at 60% in FY24. 125cc+ segment in motorcycles at 52% in FY24. Social media influences rural trends. Finance accessibility boosts premiumization. India targets net zero emissions by 2070, promoting EVs and biofuels.
Consumers bend the road: No straight drive from ICE to electric
The transition from internal combustion engine (ICE) vehicles to electric vehicles faces challenges as consumers show a preference for hybrids and CNG vehicles over pure EVs. Maruti Suzuki expects significant growth in CNG car sales, signaling a shift towards alternative fuel technologies alongside traditional options.
ETMarkets Smart Talk: Next 30 days can see a bit of increased volatility as politics takes centrestage: Devang Mehta
Devang Mehta discusses the positive macroeconomic outlook for India, the impact of global trends on the market, and the growth potential in sectors like energy, renewable energy, and EVs, emphasizing the importance of fundamental analysis in IPO decisions. Mehta also says the next 30 days can see a bit of increased volatility as politics take the centrestage and all eyes will be on the election trends and actual results.
Auto players line up array of new EV models in coming years on govt push to green mobility
Mass market players like Maruti Suzuki, Hyundai, Mahindra & Mahindra and Tata Motors are lining up new models to cater to the demand across segments.
Volkswagen to bring more premium vehicles to India
India has surpassed Japan to emerge as the third largest vehicle market in the world, a feat which no one would have thought possible a decade back, Volkswagen’s executive director, international sales, Michael Mayer, said.
India's new EV policy: Accelerating at the right time
The ball is now in the court of global manufacturers, which are eyeing the massive potential in a country that has committed to going net-zero by 2070. With matters heading south in China, it has become imperative for MNCs to derisk their strategies. On the face of it, there is a convergence of interests.
India EV policy to encourage local production of premium electric cars: Audi official
Audi AG executive praises India's new electric vehicle policy for boosting local production of premium electric cars and accelerating EV adoption. The policy includes import duty concessions for companies investing in manufacturing units for EV passenger cars.
India's new EV policy to help launch many eco-friendly premium-quality SUVs: VinFast Auto
The Indian government's new electric vehicle (EV) scheme aims to drive large investments in manufacturing, create competencies and upskilling, set up a robust supply chain and offer consumers world-class, zero-tailpipe emission vehicles, VinFast India CEO Pham Sanh Chau said in a statement.
Audi launches new version of e-tron, the Q4 55, with better specs
Audi introduces the upgraded Q4 55 e-tron in India, with an 82 kWh battery, 258 miles of range, enhanced ride comfort, and a sportier appearance. It solidifies Audi's position in the electric vehicle market.
Okaya EV enters premium segment for two-wheelers with new brand 'Ferrato'
Okaya EV unveils Ferrato, a brand targeting passionate customers and redefining the electric two-wheeler landscape with high-end models. Ferrato will launch three electric motorcycles and one scooter, promising a unique riding experience. Managing Director Anshul Gupta aims to establish over 100 partners for Ferrato.
China’s BYD targets leadership in luxury EV segment in India
China's BYD, a leading electric car manufacturer globally, aims to solidify its position in India's luxury electric vehicle segment, focusing on cars priced above Rs 30 lakh. Despite recent challenges due to increased government scrutiny of investments from China, BYD is committed to showcasing its technology and expanding its footprint in India's premium electric vehicle market.
BYD to launch its premium electric sedan, Seal, in India tomorrow. Here's all about it
Chinese electric vehicle manufacturer BYD will launch its premium electric vehicle, Seal, in India tomorrow. The Seal competes with Tesla Model 3 and offers a stylish design, two battery pack options, both single- and dual-motor setups, all-wheel-drive, a range of up to 700 km, a luxurious cabin with advanced features, and a 5-star safety rating.
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