Ola Electric launches network partner program
Ola Electric has launched a new network partner program that will help the electric two-wheeler maker expand in tier 2 and tier 3 cities. The company has successfully onboarded 625 partners under this initiative to expand its sales presence across India. Additionally, Ola Electric intends to increase this number to 1,000 partners in anticipation of the upcoming festive season. Furthermore, the company emphasizes its goal to expand its network by including 10,000 partners in both sales and service areas by the end of 2025.
(Read more: Ola Electric aims to increase presence in small cities, launches new program)
BYD made one million cars in three months
BYD or Build Your Dreams is the largest manufacturer of all-electric and hybrid vehicles in China. It is now one of the largest EV sellers worldwide, giving huge competition to US-based Tesla. BYD has manufactured nine million vehicles in total so far and that's seriously fast for a company whose roots go back just over two decades. According to data from the Chinese Passenger Cars Association, in 2023, the company will sell 3,024,417 cars worldwide, significantly higher than the 427,302 cars sold in 2020.
(Read more: BYD on steroids? Chinese EV giant makes one million cars in three months)
Petrol and diesel prices may reduce
Margins on retail auto fuel have improved as falling crude oil prices in recent weeks have given state-owned companies the opportunity to cut petrol and diesel prices. Rating agency ICRA said on Thursday, 2-3 per litre.
The price of a basket of crude oil imported by India averaged US$74 a barrel in September, down from about US$83-84 a barrel in March when petrol and diesel prices were last cut. 2 per litre.
(Read more: Petrol and diesel prices may reduce by this much) 3 per litre, says report)
MotoGP to return to India in 2026
As per MotoGP announcement, India is set to host another Grand Prix race at the Buddh International Circuit in Greater Noida. The Fédération Internationale de Motocyclisme (FIM), the International Road-Racing Teams Association (IRTA), and Dorna Sports, the official management body of MotoGP, have confirmed that India will be one of the venues for the 2026 FIM MotoGP races.
Originally scheduled for 2025, these races have been postponed to 2026 due to various technical and operational challenges. Additionally, it was noted that the partnership with InvestUP will continue, as both MotoGP and InvestUP are committed to realizing the Indian Grand Prix and promoting India as a premier destination for international sporting events.
(Read more: MotoGP: Buddh International Circuit India to host another Grand Prix in 2026)
Karnataka government plans tax breaks for hybrid cars, incentives for EVs
The Karnataka government is considering reduction in duty and provision of financial incentives for automotive manufacturers making hybrid and electric vehicles. Additionally, the state administration is considering substantial tax cuts for hybrid cars, with the aim of increasing the sales of eco-friendly fuel technology vehicles within the state. This initiative is in line with the previous announcement made by the Uttar Pradesh government ahead of the Union Budget to make hybrid vehicles more accessible and affordable.
(Read more: Hybrid and electric vehicles will be more affordable in this Indian state. Learn more)
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First publication date: 27 Sep 2024, 08:40 AM IST
