By: HT Auto Desk | Updated on: 28 Feb 2024, 16:49 PM
Hyundai plans to invest ₹32,000 crore for expansion of car and SUV platforms including electric vehicle range and charging infrastructure development
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Hyundai plans to invest ₹32,000 crore for expansion of car and SUV platforms including electric vehicle range and charging infrastructure development.
Hyundai plans to invest ₹32,000 crore for expansion of car and SUV platforms including electric vehicle range and charging infrastructure development.
Hyundai Motor India aims to reach the RE100 benchmark by 2025. To achieve this target, the South Korean auto giant aims to use 100 per cent renewable energy for its operations in India. The carmaker has announced in an official release that it has been strategically purchasing green electricity from the Indian Energy Exchange to increase its RE portfolio of 64 per cent. The OEM also claimed that it has conserved energy equivalent to about 19,200 tonnes of oil through key energy management projects till now in India.
Hyundai also claimed that it has achieved 80 per cent water neutrality by utilising recycled RO water and rainwater from harvesting ponds with a capacity of 350,000 tonnes. Besides that, the auto OEM claimed to have reduced hazardous waste by 19.4 per cent and non-hazardous waste by 14.3 per cent over the last five years.
The development and launch of electric vehicles and the setting up of EV charging infrastructure are also a key part of the brand’s strategy to reach carbon neutrality. For this, the OEM has announced to invest more than ₹32,000 crores in the next 10 years. This investment will be made for the expansion of car and SUV platforms including electric vehicle range and charging infrastructure development.
Speaking on Hyundai’s aim to reach the RE100 benchmark, Gopala Krishnan CS, Chief Manufacturing Officer at HMIL said that the automaker’s operations are driven by a strong sense of responsibility towards the environment and communities. “Our operations are driven by a strong sense of responsibility towards the environment and our communities. We view this proactive role as an opportunity to contribute to long-term sustainable development goals. Our sustainability initiatives are focused towards carbon neutrality and energy transition, circularity, clean tech products and services, operational eco-efficiency, and natural capital conservation. Our ‘Integrated Solutions to Climate Change’ initiative aims for carbon neutrality by 2045, with a sustainable operating system for future generations,” he added.
By: Paarth Khatri | Updated on: 28 Feb 2024, 16:25 PM
BYD Seal has a claimed range of up to 570 km on a single charge.
BYD Seal EV was also showcased at Auto Expo 2023.
BYD India has announced that they have started accepting bookings for their upcoming electric vehicle, Seal. The electric sedan will be unveiled officially to the Indian market on March 5th. Customers who book the BYD Seal by April 30, 2024, stand a chance of receiving a complimentary UEFA match ticket and round-trip flight ticket from India to the match city.
It is expected that the Seal will be the new flagship electric vehicle for BYD. As of now, the brand only sells the e6 MPV and the Atto3 crossover SUV. They are priced at ₹29.15 lakh and ₹33.99 lakh respectively. Both prices are ex-showroom.
BYD Seal: Range, battery and performance
BYD Seal is offered with single and dual-motor options. Depending on the version that the customer opts for, the electric sedan will be able to produce 308 bhp and 360 Nm or 522 bhp and 670 Nm. The rear-wheel drive powertrain has a WLTP-claimed range of 570 km whereas the dual-motor setup has a WLTP-claimed range of 520 km. These specs are for the larger 82.5 kWh battery pack.
There will also be a smaller 61.4 kWh battery pack that has a WLTP-claimed range of 460 km. The electric motor puts out 201 bhp of max power and a peak torque output of 310 Nm. The smaller battery pack can be DC fast-charged up to speeds of 110 kW whereas the larger battery pack supports 150 kW.
The Seal is one of the safest electric vehicles that a customer can buy in the Indian market. It passed the Euro NCAP crash test with 5-star safety rating last year. The Seal EV scored 89 per cent for adult occupants, 87 per cent for child occupants, 82 per cent for Vulnerable Road Users and 76 per cent in Safety Assist. The Seal EV that was tested was equipped with dual front airbags, belt pre-tensioners, belt load limiters, side airbags and a centre airbag. There were also ISOFIX child seat mounts, airbag cut-off switch and seatbelt reminders. Other features on offer are Autonomous Emergency Braking, Lane Assist System and Fatigue / Distraction Detection.
By: HT Auto Desk | Updated on: 27 Feb 2024, 15:46 PM
Volvo currently offers two electric cars in India – the C40 Recharge and the XC40 Recharge.
Volvo EX90 electric SUV (left) is the Swedish carmaker’s flagship EV based on the XC90 SUV. Volvo EX30 (right) is the smallest electric car in the Swedish carmaker’s lineup.
Swedish auto giant Volvo has confirmed that it will launch two more electric cars in India by 2025. Staying true to its commitment to go EV-only manufacturer, Volvo will drive in the EX30 and EX90 electric SUVs to India by next year. The launch of these two electric cars were confirmed by Jyoti Malhotra, Managing Director at Volvo India, on Tuesday. Volvo currently offers two electric cars in India – the XC40 Recharge and the C40 Recharge electric SUVs.
Volvo has not shared the exact launch timeline of the EX30 and EX90 electric SUVs. The carmaker has not confirmed which of these two models will hit the Indian shores first. However, Malhotra said that both the EX30 and EX90 will be brought to India as completely knocked-down (CKD) units for sale.
Volvo EX90:
Volvo EX90 electric SUV comes as the brand’s flagship EV, and it is based on the XC90 SUV. Unveiled back in November 2022, the electric SUV is powered by a dual-motor all-wheel-drive powertrain offering two power and torque output levels. The base model churns out 408 bhp of power and 770 Nm of torque, while the higher variant generates 517 bhp power and 910 Nm of torque. Both variants are capable of running at a top speed of 180 kmph.
Volvo EX90 also comes with a Lidar system that comprises eight cameras and 16 ultrasonic sensors around the car. These allow the car to detect small objects as far as 600 feet away anytime anywhere.
In terms of looks and features, the EX90 is offered with the carmaker’s iconic Thor’s Hammer LED headlights and a blanked-off grille like the XC40 Recharge. It also gets flush-fitting door handles, 22-inch alloy wheels, C-shaped split LED tail lamp.Volvo claims that the EX90 contains 15 per cent recycled steel, 25 per cent recycled aluminium, 48 kg of recycled plastics and bio-based materials. Inside, the electric SUV gets a 14.5-inch large, vertically-oriented touchscreen infotainment system powered by Google OS. The car gets 5G connectivity as standard, enabling over-the-air (OTA) updates.
Volvo EX30:
Volvo EX30 is the smallest electric car in the Swedish carmaker’s lineup. Launched last year in global markets, the electric SUV is the quickest among all EVs in Volvo’s lineup with ability to sprint 0-100 kmph in just 3.4 seconds. The EX30 comes with a closed grille and the Volvo logo at the front. The LED headlights have the signature Thor hammer shape, while at the rear, the taillights wrap around the tailgate as well as part of the C-pillar. The interior too has a very minimalist design. Dominating the cabin are two elements – the steering wheel which is flat at the top and bottom, and the central 12.3-inch touchscreen infotainment system.
Volvo EX30 will be offered with two choices of battery pack. The basic version is with a single motor which can churn out 272 hp of power. It comes equipped with a 51 kWh battery that helps the electric SUV to offer 344 kms of range on a single charge. There is also an Extended Range version using the same motor, but has a larger 69 kWh battery pack. It promises to offer 480-km range. The top of the range Twin Motor Performance version comes with dual electric motor and generates 428 hp of power. It can sprint from 0 to 100 kmph in just 3.4 seconds, faster than any Volvo ever. It can offer 460 kms of range on a single charge.
By: HT Auto Desk | Updated on: 25 Feb 2024, 15:57 PM
Tata Motors’ key official Shailesh Chandra has hinted at impending price hikes for passenger vehicles in the coming months.
Tata Motors’ key official Shailesh Chandra has hinted at impending price hikes for passenger vehicles in the coming months.
Despite the rapidly rising demand for personal mobility and SUV-mania across the country, India’s passenger vehicle segment is likely to see less than five per cent growth in the next financial year, forecasted Tata Motors. Tata Motors Passenger Vehicles Managing Director Shailesh Chandra stated that India’s domestic passenger vehicle industry is likely to see moderate to less growth in the next fiscal starting in April 2024. However, the Tata Motors official believes electric vehicle sales in the country will grow despite the slow pace of EV charging infrastructure development.
Passenger vehicles to see sluggish growth
Chandra said that in FY23, the industry witnessed 25 per cent growth in the passenger vehicle segment, which is expected to become moderate in this financial year to about eight per cent. The Tata Motors official said that the industry is currently witnessing a high base effect and in the next financial year, there will be be slightly challenging situation for the segment. This challenging situation would result in the industry recording less than a five per cent growth rate in the next financial year, claimed Chandra during an analyst call.
Watch: 2023 Tata Safari review: Family SUV with bachelor spirit?
Passenger vehicles likely to be pricier
In the last few months, automakers in India have announced price hikes for their respective passenger vehicle models citing increasing production costs due to factors such as surging raw material costs, inflation etc. Chandra hinted that there would be more such price hikes in the next financial year, which would pose challenges to the growth of passenger vehicles.
Citing various challenges for the growth of passenger vehicles in India, Chandra noted that while commodity prices have been stable in the past quarter or so, there is a risk that prices may go up going forward. He hinted that costs of crucial raw materials are going up, which may impact the prices of passenger vehicles negatively in the coming months.
Watch: 2023 Tata Nexon EV facelift first drive review: Best-seller gets even better?
Electric vehicles to continue growing
Tata Motors is spearheading the democratisation of electric vehicles in India’s passenger vehicles segment. The homegrown OEM is leading the Indian electric car segment with more than 80 per cent market share. In the last few years, the segment has witnessed rapid growth thanks to various factors such as rising costs of petrol and diesel, narrowing price gap between electric and fossil fuel vehicles, availability of various government subsidies and incentives for EVs, tightening emission norms, growing awareness about environmental pollution and vehicular emissions’ impact on that, the launch of new electric cars etc. Tata Motors believes this growth momentum will continue in the next financial year as well.
Chandra said that in 2023, while the overall passenger vehicle industry grew eight per cent on a year-on-year basis compared to 2022, electric vehicle sales surged by 95-100 per cent YoY compared to the previous year. “I think this trend is likely to continue. So companies with stronger portfolios in CNG and EVs will grow,” Chandra said.
Watch: Tata Altroz iCNG: First Drive Review
Interestingly, this growth projection comes despite the sluggish pace of growth for the electric vehicle charging infrastructure, which is considered a key factor for the growth of electric vehicle sales. “As far as EVs are concerned, I think the biggest challenge here is the pace at which the charging infra is growing. It is lagging behind the pace at which the EV adoption is happening,” Chandra noted further adding, “Given that the charging infra is crucial to the growth and expansion of EV market, we have gone for an open collaboration approach with all charge point operators as well as the oil marketing companies who are focusing on expansion of charging infra.”
By: HT Auto Desk | Updated on: 25 Feb 2024, 15:45 PM
VinFast is currently in the process of constructing a manufacturing facility in the southern state of Tamil Nadu. The company has urged the Indian gov
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VinFast is currently in the process of constructing a manufacturing facility in the southern state of Tamil Nadu. The company has urged the Indian government to reconsider the 100% import duty on fully-built EVs.
Vinfast has urged the Indian government to reconsider the 100% import duty on fully-built EVs. (Bloomberg)
Vietnamese electric vehicle (EV) manufacturer VinFast has approached the Indian government with a request to temporarily reduce import duties on its cars for approximately two years, a report by Reuters stated. This move aims to facilitate customer acceptance of VinFast’s products until the company’s local manufacturing plant becomes operational.
The request aligns with VinFast’s strategy to establish a presence in India, similar to the approach taken by American EV giant Tesla, which had also expressed interest in a duty reduction but faced a denial from the Indian government.
VinFast is currently in the process of constructing a manufacturing facility in the southern state of Tamil Nadu. The company’s India CEO, Pham Sanh Chau, has indicated that production is slated to commence by mid-2023, initially focusing on domestic sales before venturing into exports. VinFast’s investment plans in Tamil Nadu, in collaboration with the state government, entail a total investment of up to $2 billion, with an initial commitment of $500 million for the first five years of operations.
VinFast, akin to Tesla, has urged the Indian government to reconsider the 100% import duty on fully-built EVs, a stance that has been met with opposition from domestic automakers. While India, as the world’s third-largest vehicle market, is contemplating the requests, no definitive decision has been reached yet, as per a government official.
Chau highlighted VinFast’s proposal for a temporary reduction in import duty, suggesting bringing it down to 70% to 80% for a limited number of cars over two years. This approach, he believes, will help Indian customers acclimatise to VinFast’s offerings. While the central government deliberates on this proposal, VinFast remains committed to advancing its manufacturing facility’s construction.
India’s EV market is still nascent, accounting for just about 2% of total car sales in the previous year. However, the federal government has set an ambitious target of achieving a 30% market share for EVs by 2030, and is actively working on programs to attract EV manufacturers.
VinFast’s Tamil Nadu project is expected to have an annual capacity of up to 150,000 vehicles, complementing its main plant in Vietnam with a capacity of 250,000 vehicles annually. The company is already collaborating with around 55 Indian dealers to establish a robust sales network and is also considering introducing its two-wheeler models in the country in the future.
By: HT Auto Desk | Updated on: 11 Jan 2024, 16:58 PM
Raptee Energy’s upcoming electric motorcycle promises up to 150-kilometre range on a single charge.
Raptee Energy’s upcoming electric motorcycle promises up to 150-kilometre range on a single charge.
Raptee Energy unveiled its upcoming electric motorcycle on Thursday, previewing the upcoming EV. The electric motorcycle is slated to launch in April this year and it claims to be built on a high-voltage drivetrain. The EV manufacturer also claims that the upcoming electric motorcycle will come with a host of features and technology promising a thrilling ride experience. However, the EV maker has not revealed the name of the motorcycle or any details about its pricing.
The prototype showcased by Raptee Energy previews the design of the upcoming electric motorcycle, which carries a naked roadster styling. Expect it to feature an all-LED lighting setup as well as a fully digital instrument cluster. Also, the electric motorcycle will be running sporty alloy wheels wrapped with meaty rubbers. The prototype also hints the motorcycle will come featuring disc brakes on both front and rear wheels, while suspension duty will be done by telescopic front forks.
Speaking about the powertrain, Raptee Energy has stated that the upcoming electric motorcycle will boast a powerful drivetrain. It claims to be capable of running at a top speed of 135 kmph. The EV maker also claimed that the motorcycle will offer a real-world range of up to 150 kilometres on a single charge.
The battery pack onboard the electric motorcycle claims to be capable of being charged up to 80 per cent in 45 minutes, while it will provide up to a 40-kilometre range on 15-minute charging. The motorcycle also claims to come with an acceleration capability of 0-60 kmph in 3.5 seconds. Raptee claims the motorcycle will challenge internal combustion engine-powered models as well.
By: HT Auto Desk | Updated on: 07 Jan 2024, 21:53 PM
VinFast will establish EV and battery manufacturing facilities in Thoothukudi and says these will generate around 3,500 jobs.
Officials from VinFast are seen here with Tamil Nadu CM MK Stalin and Union Minister Piyush Goyal at the signing of a joint agreement between the EV maker and the state government. (CMO, Tamil Nadu)
VinFast is fast emerging as a name and brand to reckon with in the world of electric vehicles (EVs). The company from Vietnam has already expanded its presence across many markets across the world, including the United States, and has now confirmed its India entry via a mammoth $2 billion investment into EV facilities in Tamil Nadu.
In an official statement, Vinfast announced it has an intended commitment of $500 million for the first five years of the project and that it has signed a joint agreement with the state government of Tamil Nadu. The construction of a battery plant and a facility to manufacture EVs will begin from this calendar year itself – in Tamil Nadu’s Thoothukudi – and once both are fully functional, will generate up to 3,500 jobs in the state.
Entering the Indian market at this point in time may be as beneficial for VinFast as it could be to accelerate the EV adoption in India. India is the world’s third largest car market in the world – in terms of sales, but EV penetration is still quite small. What this may mean is enormous potential that VinFast is looking to tap into. And choosing Tamil Nadu as its base of operations in the country is stemming from its assessment that the state has enormous potential to be India’s EV hub. “VinFast Tamil Nadu project aims to evolve into a first-class electric vehicle production hub in the region, with an annual capacity of up to 150,000 units. Construction of the plant is anticipated to begin in 2024. This project is set forth to lay a strong foundation for economic growth in Tamil Nadu and India as a whole,” the company said in its official statement. “Besides the economic benefits, the project will also pave the way for green transportation development, targeting 30% of newly registered private cars to be electric. This aligns with the state government’s initiatives to minimize carbon emissions in the transportation sector.”
File photo of Vinfast VF9 electric vehicle on the opening day of the Geneva International Motor Show that was held in Qatar in 2023. (Bloomberg)
How significant is VinFast in the world of EVs?
VinFast is one of the newer players in the globa EV race and comes from a country that has traditionally not had much to show in terms of its automobile manufacturing capabilities. But the EV game has levelled the play-field significantly, providing opportunities for established automobile champions as well as emerging EV companies.
Founded in 2017 by Pham Nhat Vuong, Vietnam’s first billionaire and who made his riches as a property developer, VinFast has been manufacturing EVs since 2021. It may have only been over two years of manufacturing EVs but VinFast has been busy. The company bought a manufacturing facility from GM in Australia while it is working to open another production hub in Indonesia that is scheduled to start rolling out models from 2026 onwards. It also began shipping its EVs to the US in early 2023 and opened its first dealership in the country last month. It is also establishing a manufacturing plant in North Carolina and is investing $4 billion in the country.
What kind of EVs does VinFast offer at present?
VinFast EV models are quite striking in their exterior design language even if the specifications are not the best in the industry just yet. The company offers small electric models like VF3 and VF4, as well as large electric SUVs like VF7 and VF9. The likes of VF6 and VF7 are sub-compact and compact SUVs, respectively, while VF8 is a mid-size SUV.
By: HT Auto Desk | Updated on: 01 Jan 2024, 16:57 PM
Ola Electric sells S1 Pro, S1 Air and S1X Plus electric scooters in India.
Ola Electric sells S1 Pro, S1 Air and S1X Plus electric scooters in India.
Ola Electric on Monday announced that it sold 30,219 electric scooters across India in December 2023. The ride-hailing platform turned into an EV manufacturer also claimed that it captured 40 per cent market share in the Indian electric two-wheeler segment. Ola Electric further claimed that December 2023 witnessed its highest-ever monthly registrations.
The electric two-wheeler manufacturer has claimed in an official release that it registered a whopping 74 per cent sales growth in December 2023, as compared to the same month a year ago. Also, the company claims to have recorded 68 per cent growth in the last quarter ending in December 2023 with 83,963 units, compared to the October-December quarter of 2022. Also, the EV manufacturer claims to have sold a total of 2.65 lakh units of electric scooters in 2023.
Ola Electric further claimed that it crossed another milestone of becoming the first company in the industry to produce 400,000 electric scooters in just two years. Speaking about the sales performance, Anshul Khandelwal, Chief Marketing Officer of Ola Electric, said that its ‘December to Remember’ campaign was a massive success bringing thousands of customers under the EV fold. “We believe that we have continued our market leadership for yet another quarter on the back of our strong product lineup comprising the S1 Pro, S1 Air, and the S1 X+. Our ‘December to Remember’ campaign has been a massive success, bringing thousands more under the EV fold,” he added.
Ola Electric currently has five different electric scooters on offer across variants and different battery options. It sells models like S1 Pro, S1 Air and S1X Plus. Priced at ₹147,499 (ex-showroom), S1 Pro is the company’s flagship premium EV scooter while S1 Air is available at ₹119,999 (ex-showroom), and it is the band’s most affordable EV.
Electric two-wheeler manufacturer Xero EV has joined with battery-swapping technology provider VoltUp for last-mile delivery solutions. The EV maker announced on Wednesday that it aims to get 15,000 electric two-wheelers on the road within the next two years, which will be used in the last-mile delivery segment.
By: HT Auto Desk | Updated on: 27 Dec 2023, 18:18 PM
Xero EV aims to produce 15,000 electric two-wheelers with swappable batteries by 2025.
Under the strategic partnership between Xero EV and VoltUp, the electric two-wheeler manufacturer’s pure electric scooters will leverage the latter’s battery-swapping facility across 12 cities in the country. The EV maker claims the partnership will revolutionise last-mile delivery solutions across these cities. While the company claimed that this partnership will initially benefit the Mink electric scooter, it will also benefit other Xero electric two-wheelers. Xero EV has further claimed that under this partnership, users of its electric two-wheelers will be able to swap their battery packs within a minute.
Speaking about this collaboration, Bharat Pritmani, co-founder of Xero EV has said that the two companies are creating a solution that not only meets but exceeds the demands of last-mile delivery partners. “This collaboration marks a turning point in the electric vehicle industry. By integrating Xero’s energy-efficient products with VoltUp’s swappable battery network, we are creating a solution that not only meets but exceeds the demands of last-mile delivery partners,” Pritmani added.
Ritesh Singh, Head of Business & Strategy at VoltUp said that this partnership between the two companies will play a pivotal role in minimizing costs for riders, unlocking new possibilities for the electric vehicle landscape. “The partnership between VoltUp and Xero EV not only underscores our dedication to offering cutting-edge solutions but also emphasises our commitment to creating a sustainable future for all. As we embark on this journey together, we are confident that this partnership will play a pivotal role in minimizing costs for riders, unlocking new possibilities for the electric vehicle landscape. The integration of VoltUp’s platform into Xero EVs Mink model will significantly reduce charging times, enabling riders to optimize their time on the road and eliminate the waiting game associated with traditional charging or fast charging stations,” he added.
Mercedes-Benz has stated that it will reveal a number of digital innovations at the CES 2024 in Las Vegas next month. Slated to take place between 9th and 13th January 2024. The German luxury car manufacturer has revealed that it will showcase a camouflaged prototype of the pure electric G-Class and its new Artificial Intelligence (AI) powered iteration of MBUX virtual assistant.
By: HT Auto Desk | Updated on: 25 Dec 2023, 16:48 PM
Mercedes-Benz is gearing up to show a camouflaged prototype of the pure electric G-Class and AI-powered assistant, while the Concept CLA will make its North American debut.
Consumer Electronics Show or CES has been witnessing an increasing penetration of automotive technologies with a rising number of automobile manufacturers every year and the 2024 edition of the annual event is not going to be any different. Honda has already teased an electric vehicle that will break cover at the CES 2024. Mercedes-Benz has also said that it will showcase its updated AI-powered MBUX virtual assistant that will offer a more human-like interaction opportunity with the car.
Mercedes-Benz has said the new MBUX virtual assistant takes the ‘Hey Mercedes’ voice assistant into a whole new visual dimension using high-resolution game-engine graphics developed by Unity Technologies. This updated MBUX system will debut in Mercedes-Benz cars in 2024.
While the AI-fuelled updated version of MBUX will be a key attraction from Mercedes-Benz at CES 2024, the carmaker will also showcase a camouflaged prototype of the pure electric G-Class that is among the much-awaited Mercedes-Benz electric vehicles. Also, the automaker will showcase the Concept CLA electric sedan with a coupe design promising more than 750-kilometre range. With an appearance at this event, the Mercedes-Benz Concept CLA will make its North American debut.
The Concept CLA four-door sedan previews the new entry-level vehicles from the luxury car marquee, which will comprise both internal combustion engine (ICE) propelled models as well as electric vehicles. Meanwhile, Mercedes-Benz India is gearing up to launch its GLS facelift in the country on 8th January 2024, which made its global debut earlier this year.
India is one of the fastest-growing electric vehicle markets in the world. Over the last few years, both legacy players and EV startups have been drastically transforming the landscape of the Indian EV industry. Electric two-wheelers dominate the Indian EV market, but car manufacturers too are introducing interesting products. While homegrown car manufacturers have been launching new electric cars in the country, foreign brands are also bringing their respective products into the segment.
By: HT Auto Desk | Updated on: 23 Dec 2023, 20:42 PM
From mass-market to luxury, the year 2023 witnessed launch of several electric cars across price-segments, with SUVs dominating the chart.
In 2023, several carmakers, in both mass-market and luxury segments have launched some spectacular electric cars across different pricing slabs. Interestingly, like the fossil-fuel-propelled passenger vehicle market, the Indian electric car market is witnessing the rise of SUVs. In 2023, the majority of the electric cars launched in the country were SUVs.
Here is a comprehensive list of the electric cars that were launched in India in 2023.
MG Comet EV
MG Comet EV is the most affordable electric car in India. This small boxy hatchback looks tiny compared to other models in the fray, but a perfect machine for in and around-city commuting. MG Comet EV was launched in 2023 at an introductory starting price of ₹7.98 lakh (ex-showroom). The electric hatchback threw a tough challenge to the Tata Tiago EV, the erstwhile most affordable electric car in India with its pricing. Design-wise, the EV is eye-catching on the exterior, while inside the cabin it looks simple yet very much urban at the same time. The Comet EV promises a 230 km range on a single charge.
Tata Nexon EV facelift
One of the most noteworthy car launches in India in 2023 was the arrival of the Nexon EV facelift. Tata Nexon EV is the country’s bestselling electric car and the homegrown automaker simply ramped up the appeal of the electric compact SUV with the launch of the Nexon facelift, which incorporates a wide range of design and feature updates. The Nexon EV facelift comes available at a starting price of ₹14.74 lakh (ex-showroom), and it promises a 465-kilometre range on a single charge, while it can accelerate to 0-100 kmph in 8.9 seconds. It comes with V2V and V2L technologies.
Powering the electric SUV is a 66.4 kWh battery pack paired with dual electric motors.
BMW iX1
BMW launched the electric avatar of the X1 SUV, christened as iX1 in India in 2023. The luxury EV was launched in the country at a price tag of ₹66.90 lakh (ex-showroom). BMW iX1 is the German brand’s fourth fully electric vehicle and is sold in India via the CBU route. Powering the electric SUV is a 66.4 kWh battery pack paired with dual electric motors. The electric propulsion system churns out 309 bhp peak power and 494 Nm of maximum torque. The EV promises up to 440-kilometre range on a single charge. It can reach 0-100 kmph in 5.6 seconds and can achieve a top speed of 180 kmph.
BMW i7
BMW i7 is an all-electric sedan that was launched in India in 2023 at a price tag of ₹2.50 crore (ex-showroom). The BMW i7 M70 xDrive is the brand’s first M-division electric car that was launched in India in 2023. Powering this luxury electric sedan is a 101.7 kWh battery pack that is paired with dual electric motors and generates up to a 560-kilometre range on a single charge. The electric propulsion system churns out 657 bhp peak power and 1,100 Nm maximum torque. This electric sedan can sprint to 100 kmph from a standstill position in just 3.7 seconds at a top speed of 250 kmph.
Mahindra XUV400
Mahindra XUV400 is the homegrown automaker’s first-ever electric SUV launched in India in 2023. The Mahindra XUV400 comes positioned in compact SUV segment and it competes with rivals like the Tata Nexon EV. Launched at ₹15.99 lakh (ex-showroom), the Mahindra XUV400 is available in two different battery options and promises up to 456-kilometre range on a single charge. Available in EC and EL, the Mahindra electric SUV’s price goes up to ₹18.99 lakh (ex-showroom).
Citroen eC3
Despite being a new entrant in the Indian passenger vehicle market, French auto giant Citroen was quick to launch an electric car in the form of eC3. The electric SUV comes priced from ₹11.50 lakh (ex-showroom) and it promises a range of 320 kilometres on a single charge, which is also the highest in its segment. Available in four different variants, the Citroen eC3 EV is powered by a 29.2 kWh battery pack that promises 320 kilometres range on a single charge. The electric SUV promises a top speed of 107 kmph.
Volvo C40 Recharge
Volvo C40 Recharge is the second electric car in India from the Swedish luxury car manufacturer after the XC40 Recharge. The electric car was launched at ₹61.25 lakh (ex-showroom). The EV competes with rivals such as Kia EV6 and Hyundai Ioniq 5. The EV gets power from a 78 kWh battery pack paired with dual electric motors. The EV churns out 402 bhp peak power and 660 Nm of maximum torque. The EV is capable of running at a top speed of 180 kmph and can sprint to 100 kmph from a standstill position in 4.7 seconds.
Hyundai Ioniq 5
Hyundai Ioniq 5 is the second electric car from the South Korean auto giant in the Indian market. The Hyundai Ioniq 5 EV has been launched in the country at ₹44.95 lakh (ex-showroom). The EV comes competing against the Kia EV6 but is more affordable than the rebadged sibling. Powering the Hyundai Ioniq 5 is a 72.6 kWh battery pack, that promises a 631 kilometre range on a single charge. It gets a rear-wheel drivetrain churning out 214 bhp peak power and 350 Nm of maximum torque. The EV claims come with a fast charging technology that charges the battery from 10 to 80 per cent in just 18 minutes.
Audi Q8 e-tron and Sportback e-tron
Audi launched the Q8 e-tron and Sportback e-tron in India in middle of 2023. The SUV and the Sportback were launched together, priced at ₹1.14 crore and ₹1.18 core (ex-showroom). The Q8 e-tron essentially came as a facelifted iteration of the erstwhile e-tron. Both the SUV and the Sportback were launched in two trims – 50 and 55, with range of up to 600 kilometres on a single charge. Powering the 50 variant is a 71 kWh battery pack, while the 55 onbe gets a larger 114 kWh battery pack. The SUV has a maximum claimed range of 491 kilometres and 582 kilometres for the 50 and 55 variants, respectively, while the Sportback has a maximum range of 505 kilometres and 600 kilometres for the 50 and 55 variants, respectively.
Mercedes-Benz EQB
Mercedes-Benz India launched the EQB 350 4Matic electric SUV in India in 2023, at a starting price of ₹77.50 lakh (ex-showroom). The luxury electric SUV was launched in the country replacing the previous EQB 300 4Matic that was launched in December 2022. The EQB is powered by a 66.5 kWh battery pack. The electric propulsion system onboard the SUV promises 288 bhp peak power and 520 Nm of maximum torque. These specifications are significant enhancements from the EQB 300 4Matic.
Mercedes-Benz EQE
Mercedes-Benz EQE electric SUV was launched in India in 2023 after the EQS and EQB, joining the lineup as the brand’s third EV in the country. The Mercedes-Benz EQE electric SUV was launched here at ₹1.39 crore (ex-showroom). It competes with rivals like Audi Q8 e-tron and BMW iX1 electric SUVs. Mercedes-Benz EQE 500 4Matic SUV comes promising 550 kilometres range on a single charge. The SUV gets power from a 90.56 kWh battery pack that is paired with dual motors. The SUV can accelerate from 0-100 kmph in 4.9 seconds at a top speed of 210 kmph.
Tata Motors has inaugurated its first EV-only dealership in Gurugram. The dealership will open for the general public on 7th January and it is located on Sohna Road. The manufacturer says that they will expand the network to 2-3 more cities where they sell the most number of electric vehicles.
By: Paarth Khatri | Updated on: 21 Dec 2023, 16:19 PM
The new EV-only dealership is located on Sohna Road, Gurugram and will be operational from 7th January.
Customers would be able to use fast chargers that will be available at these new dealerships. Tata has also announced that once the EV dealerships are up and running, they will stop selling electric vehicles from regular showrooms. Apart from this, all Tata EV showrooms will have workshops that will be exclusive to Tata electric vehicles, this information was already confirmed to us back in October last year when the manufacturer launched the Tiago EV.
Tata Motors currently sells the Nexon. ev, Tiago.ev and Tigor. ev in the Indian market. Nexon.ev and Tiago.ev contribute around 75 per cent of sales among all Tata electric vehicle sales. Speaking of Tiago.ev, 25 per cent of buyers of the electric hatchback are women. Tata aims to complete 2023 with about 70,000 EV sales.
Commenting at the inauguration of the new showrooms, Shailesh Chandra, MD, Tata Motors Passenger Vehicles Ltd., and Tata Passenger Electric Mobility, said, “With insights gathered from over 1 Lakh Tata EV customers, we understand that the EV consumers seek a different kind of customer experience. They are sensitive to how the planet is evolving, very conscious about the cost of driving, and desire cutting-edge technology. This is in line with the new brand identity’s core values – sustainability, community, and technology. The new flagship showrooms are the first physical manifestations of this brand philosophy and we have mapped the customer journey accordingly. We want to empower our customers so our plans include the creation of a harmonious community space to facilitate customer gatherings/services, sustainability-focused workshops, and events for customers. These showrooms are not just about retailing EVs but they become TATA.ev community centres in Gurugram.
Tesla has long held a place of prominence in the world of electric vehicles (EVs), enjoying a significant lead over all its rivals across the world. But the pedestal on which the US-based manufacturer has long been perched upon is under direct threat from China’s BYD which has now equalled Tesla’s 17 per cent market share in the world of battery electric vehicles or BEVs, as per Counterpoint Research.
By: HT Auto Desk | Updated on: 19 Dec 2023, 20:02 PM
BYD is on the hunt and it smells Tesla. Cars like BYD Song (in pic) are helping the Chinese company notch up sales numbers fast.
BYD is a significant player in China’s EV scene and has recently expanded to several overseas markets as well, including India. And unlike Tesla, the company also offers hybrids and plug-in hybrids (PHEVs), apart from its lineup of BEVs. Tesla, however, only offers BEVs and even here, its global market share is now under serious threat.
What is remarkable is that BYD had a 13 per cent market share in the previous Q3 (for BEVs alone) and was behind the curve to Tesla’s 17 per cent even then. But it has taken some massive strides to catch up and is now poised to shift to top gear and overtake. A key driving factor here may be BYD’s March of 2022 decision to stop production of vehicles that are powered by engines, and focus entirely on BEVs, hybrids and PHEVs. While China remains its biggest market, overseas expansion may also be helping with the additional boost.
Tesla vs BYD: David vs Goliath?
File photo of Tesla Model 3 vehicles rolling out of the company plant in Shanghai. (REUTERS)
Tesla’s rise has been meteoric. It has left established champions of the automotive world, the likes of Toyota, Volkswagen and even the German luxury brands far behind. The Elon Musk-led company has often been compared to David from the Book of Samuel. But BYD may be the new David in town.
Established in 1995 as a company focused on rechargeable nickel–cadmium batteries, BYD eventually established two main subsidiaries – BYD Auto and BYD Electronics. BYD Auto was founded in 2003, the same year as Tesla. The Chinese company entered into production of forklifts, buses, trucks and electric bicycles – not necessarily in that order, before seeing potential in battery-powered four-wheeled vehicles. The potential was also because China was emerging as a big player in the EV category. Today, the country leads the world.
Tesla only entered into the Chinese market in 2017. The Shanghai facility was its first outside of the US and currently supplies the local market as well as select European countries. But while the company remains an enormously popular manufacturer here, BYD has been consistently growing big in its home base while pressing on the expansionist mode as well.
If Tesla has Model 3, its most affordable EV, BYD has Seal. If Tesla has Model Y SUV, BYD has Song EV. Model for model, the competition is hotting up. Tesla is catering to the global audience. BYD is still a largely Chinese market-dependent company. But it is using its local popularity to add winds to its proverbial sails. Will Tesla weather the incoming storm?
In an era when almost every car manufacturer is focusing on touchscreen controls or touch panels inside their respective car cabins, Volkswagen is thinking otherwise. The German automobile giant is planning to bring back physical buttons in its new cars, reveals a report by British automotive publication Autocar UK. Volkswagen has revealed the interior of its ID. 2all concept and previewed what the cabin of its future cars would look like.
By: HT Auto Desk | Updated on: 19 Dec 2023, 16:07 PM
The revelation of Volkswagen’s plan to bring back physical buttons comes at a time when automakers around the world are being criticised for their over-reliance on touchscreen controls.
Volkswagen’s interior designer Darius Watola reportedly said that the ID. 2all previews a new approach for all the future cars the automaker is slated to bring. Also, Watola reportedly said that this move of bringing back physical buttons comes in response to the criticism about over-reliance on touch controls. Volkswagen is not the only automaker to think this way, as several other carmakers too are shifting their strategies in similar lines.
Interestingly, as almost every automaker around the world is increasingly focusing on removing the conventional physical buttons in favour of the touchscreen controls, consumers have been complaining that instead of increasing convenience the touchscreen controls are often proving to be inconvenient and risky as well. This criticism has reportedly propelled Volkswagen to plan to bring back conventional physical buttons in its future passenger vehicles.
Interestingly, this move comes as a complete reversal from the strategy the German automaker took under the former CEO Herbert Diess. It decided to follow in Tesla’s footsteps and centralize the majority of its controls to the touchscreen infotainment screen. Volkswagen also removed the physical buttons from the steering wheels and replaced them with touch-sensitive capacitive buttons. This move reportedly frustrated the Volkswagen customers. Volkswagen’s current CEO Thomas Schafer has even said that this move has done a lot of damage to the brand. Considering this, the move to bring back physical buttons inside the cabin comes as a significant shift from the automaker’s previous strategy.
India will get a number of new electric cars in the next 12 months as the EV segment continues to grow at a rapid rate. Several carmakers have already confirmed launch of their new electric vehicles in 2024. Some of these models will help top carmakers enter the EV fray in the country which currently has less than seven per cent contribution to overall vehicle sales in India. Key names among the expected electric cars to hit Indian shores include the likes of Maruti Suzuki’s first EV – the eVX, Tata Harrier EV among others. Here is a quick look at list of brand new electric cars to launch in India next year.
Maruti Suzuki is expected to launch its first electric vehicle in India with the introduction of the eVX in 2024. Tata Motors is also expected to launch at least three new EVs, including the electric avatar of its flagship Harrier SUV next year.
2024 will be a landmark year for Maruti Suzuki, the largest carmaker in India, as it plans to put its first ever electric car eVX to production. The carmaker has confirmed that the eVX electric SUV, first showcased at the Auto Expo held in January this year, will be manufactured from Suzuki Motor’s Gujarat facility at Hansalpur starting next year. It is expected to be launched some time in 2024. The eVX electric SUV will come with a range of around 550 kms in a single charge. It will be equipped with a 60 kWh lithium-ion battery pack. When launched, it will take on the likes of MG ZS EV and Hyundai Kona among others.
Tata Harrier EV
Tata Motors has confirmed that its flagship Harrier SUV, which recently received a major facelift, will get its electric version next year. The Harrier EV made its debut at the Auto Expo earlier this year. Built on the Gen 2 EV architecture, the Harrier EV will come with V2L and V2V charging facilities. The Harrier EV has been spotted testing on roads ahead of its launch within the next few months. However, very little is known about what this electric SUV will offer in terms of range, performance and features.
Tata Punch EV
The second electric vehicle from Tata stable expected to make India debut next year is the Punch. The smallest SUV from the carmaker already has the ICE and CNG version on sale. When launched, it will become the fourth car in Tata’s lineup to offer ICE, CNG and EV version of the same model. The Punch EV is expected to come with the same Ziptron technology that is doing duty in other Tata EVs like Nexon. The size of the battery could be the ones used for Tigor EV or the Nexon EV. Tata Punch EV could offer range of more than 300 kms in a single charge in the long-range version.
Tata Curvv EV
The third electric car from Tata Motors expected to be launched in 2024 is the Curvv EV. Tata is likely to launch the EV version of the SUV after its ICE version makes its debut. The Curvv EV will be based on Tata Motor’s X1 platform which will be heavily reworked to become EV ready. According to reports, the expected range of the Curvv electric SUV will be between 400 kms and 500 kms in a single charge. It is not clear if Tata Motors will use the same battery the Nexon EV facelift uses.
Kia EV9
The Korean auto giant is expected to expand its EV lineup in India with the introduction of its three-row electric SUV EV9. Based on the Electric Global Modular Platform (E-GMP), the EV9 stands more than five metres in length. It promises to offer range of up to 541 kms in a single charge. It is expected to be offered in two variants. Globally, the EV9 is powered by a 150 kW electric motor that can help it sprint 0-100 kmph in 9.4 seconds. The RWD version of the EV will come with a more powerful 160 kW electric motor. The EV has an 800-volt electrical architecture that enables the EV to charge at ultra-fast speed. Kia claims the EV9 can run 239 kms with just 15 minutes of charging.
Mahindra XUV.e8
Mahindra and Mahindra will also expand its EV lineup for India with the launch of an electric SUV based on the XUV700. This will be Mahindra’s second electric offering after the XUV400. Mahindra had showcased five upcoming electric SUVs during an event held in United Kingdom in August last year. To be launched under the Born Electric brand, the XUV.e8 is expected to come with dual electric motor as well as all-wheel drive technology. Mahindra is likely to offer at least 60 kWh battery pack with the XUV.e8 EV besides adding features like level 2 ADAS, 5G connectivity among others.
BMW’s high-performance car division, popularly known as BMW M has no intention to follow its arch-rival Mercedes-AMG’s strategy of offering downsized engines for its sporty cars. Also, the German automaker plans to continue selling its V8 and inline-six engines, claims a report by CarExpert. This revelation comes despite the build-up of pressure due to stringent emission norms.
By: HT Auto Desk | Updated on: 17 Dec 2023, 10:52 AM
BMW M is working on pure electric high-performance cars but that won’t come anytime soon.
In an interaction, BMW M’s boss Frank van Meel said that the automaker’s high-performance division has no plan to introduce three and four-cylinder engine-powered cars alongside the future electric vehicles. He said that putting a smaller engine under the hood of a full-blown M model in combination with big batteries simply would not be the right way for the auto company.
Meel reportedly said that BMW M wants to have a strong base engine and going to smaller engines in combination with bigger batteries wouldn’t be the right way for the automaker. “That’s not the way we see it because we want to have a strong base engine anyway. So, for us, going to smaller combustion engines in combination with bigger batteries would not be the right way. For us, then the step will be to go purely electric right away. And do that in a proper way,” van Meel reportedly said.
BMW M is working on pure electric cars as the demand for EVs is rising. However, such cars are not coming anytime soon, claimed van Meel. He believes that the electric propulsion technology is not ready yet for a track-focused machine, which can provide continuous power output in a significant way. “It has to do one or two laps of the Nurburgring Nordschleife at full speed, actually, then with the battery, if you go, let’s say over 250 kilometres per hour, you won’t get any much further anyway. So that’s currently the restriction,” the CEO added.
Tata Motors’ electric vehicle wing Tata Passenger Electric Mobility has tied up with as many as four EV charge point operators in India to bolster the EV charging infrastructure across the country. With the help of operators like Chargezone, Glida, Statiq and Zeon, Tata Motors plans to install around 10,000 new electric vehicle charging stations in the country in the next two years. The carmaker has signed a Memorandum of Understanding (MoU) with these charge point operators today (December 11).
By: HT Auto Desk | Updated on: 11 Dec 2023, 18:05 PM
Tata Motors is currently the leading manufacturer in the electric passenger vehicle segment. It also has one of the largest EV charging network across India.
Tata Motors is currently the leading manufacturer in the electric passenger vehicle segment. The carmaker has already sold more than 1.15 lakh electric vehicles across India. Tata offers three electric cars in its portfolio which includes the likes of Nexon EV, Tigor EV as well as Tiago EV. The carmaker is expected to launch at least three more electric vehicles within the next one year. Being the leader of the EV segment, Tata Motors also has one of the largest EV charging network across India with the help of Tata Powers.
The MoU signed between Tata Motors and the four charge point operators will use telematics insight from the carmakers and identify locations to set up the new EV charging stations. This would mean Tata Motors will be able to take help from these operators to install EV chargers at places where its electric vehicles sell the most or is most frequented by Tata’s electric vehicle owners.
Chargezone, Statiq, Zeon and Glida, also formerly known as Fortum Charge Drive India, are some of the leading EV charger operators in India. They have a combined EV charging network of around 2,000 stations spread across various cities in the country. The MoU with Tata Motors will extend the number to 12,000 within the next 12-15 months, said the carmaker. Balaje Rajan, Chief Strategy Officer at Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility, said, “This collaboration will benefit from Tata Passenger Electric Mobility’s unparalleled EV usage insights, coupled with the CPOs’ innovative charging solutions and entrepreneurial spirit, and create 10,000+ additional charging points in the country by FY25.”
Also watch: 2023 Tata Nexo EV first drive review
Tata Motors and these four charge point operators will also work on a smart payment gateway for its customers to make it easy for them to recharge and pay. They are planning to roll out RFID cards which will be accessible at any of the charge points operated by these companies. Customers will also be able to avail benefits of loyalty programs as well as access dedicated customer care number.
Currently. Tata Motors has nearly 5,000 public EV charging stations across the country in collaboration with Tata Power. Tata Motors and Tata Power have also launched EZ Charge Card, a touch-based RFID card. Tata Motors has also tied up with Bharat Petroleum to set up 7,000 chargers over the next year.
China’s Huawei Technologies has asked Mercedes Benz and Volkswagen’s Audi if they are interested in buying small stakes in its smart car software and components firm, according to three people with knowledge of the discussions.
By: Reuters | Updated on: 11 Dec 2023, 16:44 PM
The Huawei Aito M7 is the debut car model from the Chinese smartphone maker.
The move is aimed at expanding its partnerships beyond Chinese brands, they said. Huawei, the target of U.S. sanctions since 2019, also hopes the presence of foreign investors would help defend the business from potential further geopolitical tensions, according to one of the sources who was briefed on the matter.
The Chinese technology giant said last month it will spin off its four-year Intelligent Automotive Solution (IAS) business unit which is seeking to become the dominant supplier of software and components for smart electric vehicles (EVs).
Sources have previously said the unit will be valued at somewhere between $28 billion and $35 billion.
Huawei held preliminary talks with Mercedes in recent weeks, according to two sources. One source said the German auto brand was offered a 3% to 5% stake with the valuation to be negotiated.
But Mercedes was not that interested as it wants to remain in charge of its software to sustain its premium brand positioning rather than outsource it to a supplier, the source added.
Audi’s level of interest in Huawei’s offer could not be immediately determined.
However, two of the sources said Audi and Huawei are planning a partnership to develop autonomous driving technologies for Audi. Those technologies would be used in vehicles for the Chinese market from 2025 and which would be built by the German automaker’s venture with FAW Group.
The sources declined to be identified as the discussions were confidential.
Mercedes declined to comment on what it called speculation. Huawei and Volkswagen did not respond to requests for comment. The move by Huawei comes as global automakers in China increasingly seek to partner with Chinese companies, which have pulled ahead in developing high-end features for tech-savvy Chinese consumers. Volkswagen has been working with EV automaker Xpeng and autonomous driving chip designer Horizon Robotics to develop China-specific intelligent and connected electric cars.
Audi has also partnered with SAIC Motor to develop EVs in a segment for the Chinese market it did not previously have a presence in.
Richard Yu, who oversees Huawei’s smart car business, told a forum in April that it had been difficult for European, U.S. and Japanese companies to choose Huawei as their main supplier of intelligent solutions due to U.S. sanctions. “Therefore it’s a huge challenge because we have invested tremendously,” Yu said at the time.
While many of China’s most high-profile EV manufacturers like Nio and BYD rely on their own software, Huawei has formed partnerships with smaller electric car makers like Seres Group and some big older automakers like Chongqing Changan Automobile.
Changan Auto has said it will be an investor in Huawei’s smart car business once it is spun off, owning as much as 40% along with relevant parties.
Yu said in November that Huawei had invited Seres, Chery Automobile, Jianghuai Automobile Group and BAIC Motor to invest in the smart car firm and hoped FAW Group could join as well.
Dongfeng Motor is another potential investor in the firm, sources have said.
India’s Ola Electric has slashed its sales goals for 2023-2025 by more than half and delayed its target of achieving profits by a year, after reduced government incentives pushed up e-scooter prices, according to a document and two sources with direct knowledge of the company’s finances.
By: Reuters | Updated on: 06 Dec 2023, 16:42 PM
Ola Electric, India’s largest electric two-wheeler manufacturer, is planning to cut down its sales targets ahead of its IPO launch.
The scaling back of Ola’s targets comes ahead of its $700 million stock market debut plan, even though the SoftBank-backed company, which likens itself to Tesla in the West, continues to lead the small yet fast growing e-scooter market. In a surprise move in May, India’s government cut cash incentives available for e-scooter buyers without giving an explanation. Ola’s CEO Bhavish Aggarwal at the time said the reduced incentive would be a “short-term blip” for sales, and the company said the move would “have no impact on volumes”.
A document seen by Reuters with Ola’s latest financial projections shows it now expects to record 300,000 e-scooter sales in the ongoing fiscal year to March 2024, two-thirds lower than the earlier goal of 882,000 which Reuters reported in July.
The revenue target for the ongoing fiscal year period is now $591 million, versus the earlier goal of $1.55 billion – a cut of about 60%, according to the internal document.
In a statement, Ola did not acknowledge the document or comment on the cuts to internal forecasts. It said future financial targets were “yet to be verified”.
“This is completely confidential information of the company,” Ola said.
The targets have been lowered because of the government’s lower subsidy, said two sources with direct knowledge of the company’s finances, who declined to be named citing confidentiality.
“The new numbers have been toned down so the company is able to meet or exceed them … that is what investors want to see,” said one of the sources.
EV Goals
While Ola is launching new scooters, parts of its nationwide network of over 400 service hubs which maintain and repair its EVs are showing signs of strain after a surge in sales, Reuters reported last month.
India e-scooters sales nearly tripled to over 700,000 during 2022-23 versus the previous year, with Ola a market leader, but the sales were still a fraction of 15 million plus two-wheelers sold in the country.
Prime Minister Narendra Modi wants 70% of all new two-wheeler sales to be electric by 2030. India now offers 15% of the price before tax as incentives for e-scooters, compared with 40% earlier, leading to higher prices.
Before the government incentive cuts, Ola, still loss-making, was expecting to record its first operating profit of $220 million in the ongoing 2023-24 fiscal year. The revised targets in the document show it will record an operating loss of $92 million this year, and a profit of $111 million next year.
Sales will also rise but at a far slower pace than earlier predicted.
Ola will sell 900,000 units in 2024-25 and 2.3 million units in 2025-26, the new document showed. Those targets are 60% and 21% lower than earlier estimates when incentives were in place.
On Saturday, Ola’s Aggarwal slashed prices of his entry-level e-scooter by about 20% to around $1,100 to boost their appeal and bring more people into the EV fold, adding that lower government incentives were not a worry.
“People had feared the e-scooter industry will be hit due to government incentive cuts. Industry has more than recovered,” Aggarwal said.
BMW is working with a Michigan-based energy storage technology company named Out Next Energy (ONE), which announced that it used a battery on a BMW iX test car, which achieved nearly a 1,000-kilometre range on a single charge. Interestingly, BMW is one of the major investors in the company, which makes us think that the German luxury car brand that is aiming big with its EV strategy may introduce a new battery to the future iX electric SUVs, which will enable the cars to run nearly 1,000 kilometres on a single charge.
By: HT Auto Desk | Updated on: 04 Dec 2023, 16:59 PM
BMW iX currently offers a 372-kilometre range, which can be extended to nearly 1,000 kilometres with new battery technology.
BMW is one of the leading car manufacturers globally that has been aggressively working on electric vehicles. The automaker has already launched multiple electric cars across different segments globally, including India as well. One of the BMW electric cars is the iX SUV, which is available in India alongside some other global markets. The BMW iX currently offers a 372-kilometre range on a single charge. However, ONE claims that with its Gemini dual-chemistry battery, the electric SUV can get a massive boost, enabling it to run nearly thrice the range compared to the current model.
Watch: BMW iX electric SUV launched in India: First impressions
The battery technology company has claimed that its Gemini battery is rated at 450 Wh/l of volumetric energy density, while the energy content is more than 185 kWh in the same space allotted to typical passenger electric vehicles’ packs.
Meanwhile, BMW has applied for a trademark for the iM3 nomenclature, which fuelled speculation that the automaker is working on a performance-focused electric vehicle under its M division, possibly an all-electric M3. However, BMW M boss Frank van Meel has revealed that despite the trademark filing, the automaker will not make an electric performance car named iM3. On the other hand, he also said that an electric M3 is a viable option for the automaker.
