By: HT Auto Desk | Updated on: 12 Apr 2024, 07:00 AM
Tesla enjoys a massive following the world over and many of its offerings find a place in the list of top most-selling EVs in the world.
File photo of Tesla Model S electric vehicles. (REUTERS)
Even though the growth in sales of electric vehicles (EVs) is slowing down the world over, Tesla can perhaps rely on a majority of its existing buyers to once again buy a car from the brand. At least this is what 87 per cent of current Tesla owners in the US said in a survey conducted by Bloomberg Intelligence.
Tesla enjoys a massive cult following in markets where it has a presence. And while early adopters and affluent buyers are now making way for more gradual – and cautious – EV buyers, many of those who drive a Tesla appear happy with their ride. A brand loyalty of 87 per cent is impressive considering that Lexus finds itself second in the survey results with 68 per cent existing owners saying they would return to the Japanese brand. Toyota is third at 54 per cent.
The survey also found that 81 per cent of potential Tesla owners are those making their way in from a rival EV brand. The survey had 1,000 adult respondents who confirmed they had plans of either buying or leasing a new car within a year. The report observed that 42 per cent of those surveyed were willing to buy a fully-electric vehicle while 23 per cent were willing to purchase a hybrid. “Tesla, GM, and Stellantis’ slew of affordable EV models, set for debut by 2026, may tap more mass-market buyers,” said Steve Man, global lead director for auto & industrial market research at Bloomberg Intelligence and the lead author of the report. “Despite this, the market still has a long way to go to mature, with charging network inadequacy, range anxiety, and extended charging wait times topping the list of concerns for all car buyers.”
Tesla EVs like Model 3 and Model S are extremely popular in markets such as the US and China, and repeatedly find a place in the list of most-sold EVs in the world, as well as most-sold vehicles overall.
By: HT Auto Desk | Updated on: 09 Apr 2024, 07:10 AM
Tesla is scouting locations for setting up its manufacturing plant in India.
Tesla is scouting locations for setting up its manufacturing plant in India. (AFP)
The biggest news in the Indian automotive space in the last few days was that Tesla is scouting locations for its India manufacturing facility. Three states of the country, namely Maharashtra, Gujarat and Tamil Nadu are reportedly on the radar of the electric car giant. Telangana government is also said to be in talks with Tesla for the plant. We have also reported earlier that, Tesla has already started production of cars in a limited number for the Indian market at its Gigafactory in Berlin. Also, previously Tesla India Motor and Energy Pvt Ltd leased office space in Pune, marking its first official presence in India.
HT has reported that Tesla’s CEO Elon Musk said that it is going to be a natural progression for his company to provide electric vehicles in India. However, he didn’t reveal which models would be the first to reach Indian shores officially. We can expect the Model 3 and Model Y, two of the automaker’s most popular EV offerings to be introduced to the country initially, while the other models too would be launched here gradually.
Meanwhile, the auto company has pulled the plug on plans for its most affordable car project, which could have been a perfect model for the Indian market. Instead, Tesla now plans to focus and invest in robotaxis. This comes after it was reported that Tesla was searching for a location to set up its factory in the country.
Tesla setting up its manufacturing facility in India could mean the electric car manufacturer will invest somewhere between $2 billion to $3 billion in the country. The Indian manufacturing facility of the OEM will not only cater for the Indian market but the overseas demand as well. What’s more important is that this would be a major leap for the Indian electric vehicle industry as well as the local manufacturing sector.
Industries Minister D Sridhar Babu said that the Telangana government is holding discussions with Tesla by putting in all efforts to establish their p
…
Industries Minister D Sridhar Babu said that the Telangana government is holding discussions with Tesla by putting in all efforts to establish their plant in the state.
Tesla is reportedly sending a team in the third week of April to India to scout for locations to firm up its mega manufacturing plans to make vehicles in India (Representative picture) (HT_PRINT)
The Telangana government is holding discussions with Tesla by putting in all efforts to establish their plant in the state, Industries Minister D Sridhar Babu said on Thursday.
In a message on X Sridhar Babu said since December 2023 the state government has been actively focusing on major investment opportunities by global giants, and as part of its focus, Tesla’s planned investment initiatives in India are also being tracked.
“We have been studying and tracking Tesla’s planned investment initiatives in India. We have been making all-out efforts to bring Tesla to Telangana for some time… Our team is continuing the dialogue and discussions with Tesla by putting in all efforts for Tesla to establish their plant in Telangana,” he said.
Telangana with its industry-friendly policy, is working with a progressive and futuristic vision by creating a world-class infrastructure and hassle-free permissions system to enable best-in-class companies like Tesla to do business in Telangana, he added.
The minister’s comments came after BRS leader K T Rama Rao in a post tagged a news report suggesting that Tesla Motors will send a team to India to scout for locations for a proposed electric car plant with a proposed investment of USD 2-3 billion.
“Request Telangana Government to go all out and do your best to bring them to our state. Make sure Tesla team visits Hyderabad and understands the progressive industrial policies of Telangana Government,” Rama Rao said in the post.
By: HT Auto Desk | Updated on: 04 Apr 2024, 06:42 AM
Tesla has started production of right-hand drive electric cars in its Giga Berlin plant focusing on the Indian market.
Tesla has started production of right-hand drive electric cars in its Giga Berlin plant focusing on the Indian market. (REUTERS)
Tesla has kicked off production for India-bound electric cars at its Giga Berlin facility, claims an HT report. The electric car manufacturer has started producing right-hand drive cars for the Indian market in its Berlin factory and hopes to have them on the roads of this country by the end of 2024, the report has stated quoting a person familiar with the OEM’s plans. Produced in a small number, these electric cars would be used as test prototypes in the Indian environment. However, the person didn’t reveal which models of the auto company are being produced as the Indian market-spec right-hand driver versions. Expect the EVs like Model 3 and Model Y to reach Indian shores.
Interestingly, this news comes immediately on the heels of the report that Tesla is sending a team to India in the third week of April to scout for locations to set up its manufacturing facility in the country. The OEM is reportedly planning to set up its India plant with an investment of about $3 billion.
The report stated that Tesla is working on its India plan in two dimensions, export and manufacturing dimensions. This comes after the Indian government announced its new EV policy in March this year, in which the customs duties for importing electric cars were reduced to boost electric mobility in India as well as local manufacturing. Also, this policy mandated that the OEMs could enjoy lower customs duty only if they set up manufacturing facilities in India with a certain level of investment. The Indian government linked the policy to a simultaneous manufacturing investment commitment above a certain threshold, within a specified period, and with a strong localisation of the supply chain as well.
In November 2023, it was reported that Tesla was working on its proposed most affordable car, which is likely to be a two-door sedan or SUV, which is specially focused on the Indian market. This affordable EV is meant to debut in Germany and India will be the second market for the car. This electric car is meant to be manufactured in Giga Berlin only. However, with the Indian market in focus, it will be later produced in Tesla’s intended India manufacturing plant as well.
Tesla is reportedly considering Gujarat, Maharashtra and Tamil Nadu for its intended India manufacturing plant site, primarily because these are coastal states with major ports, which will allow Tesla to export the cars produced locally in the country to overseas markets. The report further stated that Tesla will possibly make the largest foreign direct investment in India, including a direct and immediate investment of $3 billion to produce its most affordable new small car. Besides that, there would be a $10 billion commitment from its other partners to support this manufacturing ecosystem in the country, and a cumulative $15 billion in the battery industry ecosystem as well.
The Centre has approved a new EV policy that is expected to lure foreign brands like Tesla to invest and manufacture in India.
Indian auto manufacturers like Ola Electric believe that the new EV policy approved by the Centre will help India become the global EV hub of manufacturing and technology.
Indian electric vehicle manufacturers have welcomed the Centre’s decision to lower import taxes to invite foreign EV makers to invest in India and manufacture locally. On Friday (March 15), the Centre had approved a new EV policy which opened the gate for global EV brands to launch in India with the condition to invest a minimum of ₹4,150 crore and deadline of three years to start manufacturing locally. For India, aiming to be the next global hub for electric vehicles, the new policy could see a number of prominent companies like Tesla launching here soon.
India’s largest electric two-wheeler manufacturer Ola Electric and Mahindra, which plans to launch as many as five electric vehicles in India in the next few years, welcomed the Centre’s move. The Centre has promised to reduce EV import duties to 15 per cent for foreign carmakers if they fulfil the government’s condition on investments and local manufacturing. The policy says the imported EV prices should not exceed $35,000 (roughly converted to around ₹29 lakh). The condition restricts foreign EV makers to import no more than 8,000 electric cars to India in a year.
Mahindra and Mahindra issued a statement welcoming the new EV policy, It read, “The recently announced EV policy for new entrants reinforces the Make in India momentum, with requirements of bank guarantees, minimum investment commitment, and local value addition. This will help accelerate the EV ecosystem in India.” The carmaker, known more for its SUVs in India, currently offers XUV400 as the only EV in its lineup. Mahindra also said that first of its upcoming Born Electric SUVs is scheduled for India launch in January next year, most likely during the second edition of Bharat Mobility Global Expo.
Ola Electric too welcomed the new EV policy, calling it a ‘progressive decision’ to lower EV import duties. Bhavish Aggarwal, CEO and founder at Ola Electric, took to social media and said, “This is a win for the Make In India initiative & strengthens our manufacturing ecosystem, propelling India towards a greener future. India will become the global EV hub of manufacturing and technology.” Ola Electric sells the likes of S1 Pro, S1 Air and S1 X electric scooters in India.
Also Read : As India opens door for global EV makers, check out which brands are expected to launch soon
Among global EV makers aiming for a India launch soon, Vitenam-based EV startup VinFast has also reacted to the new EV policy. Pham Sanh Chau, CEO of VinFast India, issued a statement saying, “We highly value the Indian Government’s new EV scheme as it 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. With a long-term growth commitment in India, we have pledged an expenditure of $500 million.” VinFast is currently setting up an electric vehicle manufacturing facility in Tamil Nadu. It plans to manufacture electric SUVs locally.
The new EV policy is seen as an opportunity for global EV brands like Tesla to launch in India. In fact, Tesla has been the most active among global brands to lobby for a lower EV import duty in India. The efforts, despite Indian EV manufacturers like Tata Motors demanding level-playing field for all, bore fruits finally. Tata Motors is yet to come out with an official statement on the new policy. However, the Centre has put certain conditions that will help to promote local manufacturing as well as bring in foreign carmakers to turn India into a new global EV hub.
By: HT Auto Desk | Updated on: 10 Mar 2024, 17:35 PM
Insurance companies in the UK are reluctant to insure Chinese electric vehicles (EVs), citing concerns over high repair costs, lack of technical infor
…
Insurance companies in the UK are reluctant to insure Chinese electric vehicles (EVs), citing concerns over high repair costs, lack of technical information, and long lead times for replacement parts. Models such as the BYD Seal, GWM Ora 03, and some MG models are particularly challenging to insure.
While insurance costs for EVs in the UK are already high, Chinese EVs face additional hurdles due to parts availability issues and lack of manufacturer documentation for repairs. (Photo is representational)
Chinese electric vehicles (EVs) are facing insurance challenges in the UK, with many models being either uninsurable or burdened with exorbitant premiums. Factors such as high repair costs, lack of technical information, and lengthy lead times for replacement parts are contributing to this issue. Models like the BYD Seal, GWM Ora 03, and some MG models are particularly affected, according to a report by Auto Express.
Thatcham Research, a UK-based risk intelligence company, attributes this situation to Chinese automakers’ unfamiliarity with European repair processes. The intelligence company emphasises that there is a need for better engagement between Chinese automakers and the UK insurance industry. It advises these companies to understand the market and ensure they have the right logistics in place to support their vehicles.
However, Chinese EVs are not the only ones facing insurance challenges in the UK. EV owners in general are paying nearly double the premiums compared to those with combustion vehicles. Tesla owners, in particular, are experiencing significant cost increases. Insurers are also quick to write off cars from mainstream Western manufacturers due to minor battery issues, especially those with batteries as structural elements.
The UK’s National Body Repair Association, highlights the lack of parts availability for Chinese manufacturers as a major issue. The repair association stated that repairers have had to write off models like the GWM ORA 03 due to unavailability of parts, despite these being repairable under different circumstances.
GWM ORA acknowledges the challenges faced by some owners in obtaining insurance coverage and claims to be taking steps to address the issue. However, the carmaker suggest that part of the problem may be due to unfamiliarity with the brand, leading to communication breakdowns and exaggerated parts lead times.
Another challenge lies in the differences between the Chinese and European repair markets. Labor rates in China are much lower, leading to a perception that repairs are simpler and more cost-effective than they actually are in Europe.
Ultimately, these insurance challenges could impact the competitiveness of Chinese EVs in the UK and European markets, especially in light of potential tariffs. The gap between the expectations of Chinese automakers and the UK insurance industry needs to be addressed to ensure a smoother path for Chinese EVs in these markets.
The smaller Rivian R2 SUV, which will start at $45,000, has attracted more than 68,000 reservations, CEO RJ Scaringe said in a post on X.
The Rivian R2 will go on sale in the US in 2026 while order books are open for the electric SUV
Rivian’s shares closed more than 2 per cent higher on Friday as its cheaper R2 SUV racked up tens of thousands of reservations within hours of its launch, fueling optimism that the electric vehicle maker could expand in the mass-market segment. Unveiled on Thursday, the smaller R2 SUV, which will start at $45,000, has attracted more than 68,000 reservations, CEO RJ Scaringe said in a post on X.
Analysts also said that the Amazon-backed EV maker’s plan to produce the R2 at its existing U.S. factory and pause the construction of its second factory in Georgia may result in cost savings that will delay further fundraising.
Rivian gains as new launch R2 SUV attracts
The pause in its Georgia plant is expected to drive additional savings of more than $2.25 billion for Rivian compared to its prior forecast. It will also hasten R2 deliveries to the first half of 2026.
Cost savings will leave the company with enough cash on hand through R2’s start of production, “relieving considerable pressure to raise capital in the near term,” Deutsche Bank analyst Emmanuel Rosner said.
The Illinois plant, where Rivian also makes its electric delivery vans, can produce 215,000 vehicles a year after production of the R2 starts, the company said on Thursday.
“With this new product, Rivian can potentially break more into the mass market segment, which represents about half of total U.S. auto sales,” said analysts at Bank of America.
In a surprise move, the company also introduced the R3 and a more powerful R3X variant on Thursday. The R3 will be cheaper than the R2 and will be launched after it.
The reveals come when EV demand is rising at a slower pace than automakers had expected, weighing on shares of the companies this year. Rivian’s stock had nearly halved in value this year, before the launch on Thursday.
After Friday’s close, Rivian’s market value stands at $12.49 billion, around $264 million more than its close on Thursday. Since the R2 launch event, Rivian’s market value has increased by more than $1.7 billion.
Meanwhile, market leader Tesla has slashed prices to spur sales and is also pursuing a cheaper model.
“Given Tesla has shown little ambition to move into the SUV space, Rivian could be one of the few EV SUVs on the market that most investors will likely want to buy over the next 3-4 years,” Evercore ISI analyst Chris McNally said in a note.
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
…
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: 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.
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?
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.
Tesla reportedly sent out special apparel for the vehicle launch team members of the Cybertruck pickup truck. Tesla Cybertruck is one of the most anticipated electric vehicles in the world. The official launch of the electric pickup truck is inching closer and ahead of that, the automaker has sent out special apparel for the launch team, reported the Cybertruck Owners Club forum.
By: HT Auto Desk | Updated on: 02 Oct 2023, 16:27 PM
Tesla Cybertruck is one of the most awaited electric vehicles in the world. (Image: Cybertruck Owners Club)
Tesla has already started production of the Cybertruck pickup truck. However, the production of this pure electric pickup truck with an unusual design has started at a limited number. Tesla plans to ramp up its production numbers from early 2024. However, before that, the official launch event is expected to take place in a few weeks.
A user of the Cybertruck Owners Club forum has shared an image of the official apparel. The apparel comes with the ‘Cybertruck’ word printed on it along with the ‘Launch Team’ words.
Back in April this year, Tesla CEO Elon Musk hinted that the Cybertruck handover event would happen towards the end of the third quarter. Considering that, the third quarter has been already over. However, given Tesla’s reputation of keeping with the deadlines, that is not very unusual. But now with the apparels sent out to the launch team, we can expect the event to take place in a few weeks. Also, over the last few months, the prototypes of the Tesla Cybertruck spotted have hinted that the EV is in its final phase of testing.
Tesla Cybertruck was first unveiled back in November 2019. Since then, the automaker has set multiple deadlines for the launch of the EV but failed to keep its promises again and again. It was supposed to enter production several times in the past two years, but that never happened, partly because of the global microchip shortage caused by the Covid-19 pandemic.
Lexus is benchmarking Tesla for developing its own next-generation electric cars, reported Automotive News. Lexus International President Takashi Watanabe has reportedly said that the Japanese luxury car brand owned by Toyota humbly looks at and learns from Tesla for its own electric cars, as the auto company aims to transform itself as a major EV player later in this decade.
By: HT Auto Desk | Updated on: 22 Sep 2023, 13:45 PM
Lexus plans to make its future electric cars using an altered production technique.
Lexus aims to launch a massive EV offensive with multiple electric cars scheduled to go on sale in 2026. However, the task is not easy considering the fact that there are already several players in both the mass-market segment and the luxury segment as well. Watanabe reportedly finds it a difficult mission to steer the brand through a massive EV overhaul.
Lexus is slated to preview its next-generation electric car that will launch in 2026 through a concept debuting at the Japan Mobility Show next month, claimed the report. The next-generation EV will be built on a modular architecture as the automaker has said. It will come with significantly altered production methods and a completely re-imagined software platform as well. “We have also prioritized vehicle design to embody the essence of Lexus,” he reportedly said while also adding that the auto company plans to make it easier to build and simply as much as possible. “One of our first steps will be modifying and rethinking our production methods,” he said.
With the altered production method, Lexus aims to drive down production costs by commoditizing the hardware as much as possible. With this strategy, it is reportedly aiming to compete with global EV leader Tesla and BYD. However, despite Tesla being its possible competitor, Watanabe didn’t shy away from admitting that Lexus has a lot to learn from the US electric car major.
Interestingly, Toyota at one point remained a key partner of Tesla. It would interesting to see if Lexus implements that learning into its own EV projects. The report claims the production technique is being developed by Toyota, from which Lexus will benefit. The production method will include giga-casting hat will greatly reduce the number of components. Also, the cars will reportedly drive themselves through assembly lines.
Tech-loaded cars may offer a lot of convenience to owners, but can also become a data privacy nightmare. Study by a California-based agency reveals that modern cars with connected features through apps and satellite collect massive personal data of the user and share externally. The agency, called Mozilla Foundation, reviewed 25 car brands operating in United States and European countries and found all of them breaching data privacy. The study has raised a debate whether cars should also be monitored for practically spying on the owner.
By: HT Auto Desk | Updated on: 14 Sep 2023, 16:57 PM
A Tesla model 3 car on display at the International Motor Show (IAA) in Munich. The world’s most popular car brands are a data privacy nightmare, collecting and selling personal information in an age when driving is going increasingly digital, a study by Mozilla Foundation showed. (AFP)
Nissan, Tesla, Kia, Hyundai Motor, Toyota, Volkswagen and BMW are some of the global brands who have been found breaching data privacy. The study says vague data security standards while using in-car apps, telematics, digital controls can steal personal data. These may include sensitive personal information to sexual activity and more. Almost every car manufacturer studied have admitted that they are collecting such personal information which they share with government or law enforcement agencies.
The survey, called Privacy Not Included, has raised a big concern given that these vehicles are also susceptible to hacking. Jen Caltrider, the study’s research lead, says, “Cars seem to have really flown under the privacy radar and I’m really hoping that we can help remedy that because they are truly awful. Cars have microphones and people have all kinds of sensitive conversations in them. Cars have cameras that face inward and outward.”
The survey also says that cars have the worst data privacy record among dozen other products ranging from connected home appliances like Google or Alexa, fitness trackers to even smart speakers. The survey marked Nissan as the worst among all the brands studied. The survey says the Japanese auto giant is “probably the worst car company we reviewed, and that says something because all car companies are really bad at privacy.” Nissan says it can draw inferences from the data to create user profiles which reflect the the person’s ‘preferences, characteristics, psychological trends, predispositions, behavior, attitudes, intelligence, abilities, and aptitudes’. The carmaker has also admitted that it can even collect ‘genetic information’ or ‘genetic characteristics’. However, Nissan did not explain how it collects data on sexual activity of its users.
Kia and Hyundai are not too far behind either. Caltrider says, “Kia mentions sex life. General Motors and Ford both mentioned race and sexual orientation. Hyundai said that they could share data with government and law enforcement based on formal or informal requests.”
Tesla also scored high on Mozilla’s “creepiness” index. According to the survey, opting out of data collection in a Tesla car is difficult as its privacy notice says the EV maker may not be able to notify drivers “in real time” of issues that could result in “reduced functionality, serious damage, or inoperability.”
Out of the 25 brands surveyed, 19 said they can sell personal data, while half of them are ready to share these information with governments on request. Renault and Dacia are the only two carmakers who offer drivers to delete all data collected by their cars.
One of China’s largest technology conglomerates Xiaomi could reveal its first electric car by the end of this year, CarScoops reported. The long-awaited electric vehicle received government approval for production last month, though its first images were leaked online in January this year. The company had first announced its plans to produce an EV about two years ago.
By: HT Auto Desk | Updated on: 12 Sep 2023, 17:51 PM
Xiaomi’s first electric car appears to be influenced by the design of BYD Seal showcased at the Auto Expo 2023.
The EV has been codenamed MS11 and is called Xiaomi Modena by local media reporters China. As per Car News China, the trial production of the car started last month at a factory in Beijing and the facility is said to be building roughly 50 prototypes each week. Xiaomi is said to be on schedule to receive approval from China’s Ministry of Industry and Information Technology (MIIT) in the coming month or two. Once this approval comes through, it will be able to start selling its electric car.
Once launched, the Xiaomi Modena will rival vehicles such as TeslaModel 3 and BYD Seal with a local starting pricing in the region of 200,000 yuan ($27,400). As per the car’s leaked images, its exterior design is constituted of large LED headlights and relatively simple front bumper. Xiaomi’s first EV is also expected to get flush door handles, a roof-mounted LiDAR, and a panoramic glass roof just like what is found on the Tesla Model 3.
Expect the electric car to come with a massive 101 kWh ternary battery and an 800-volt electrical architecture. It could be able to travel up to 800 kilometres or 497 miles on a single charge. It will be equipped with a self-developed electric motor while its batteries will be provided by CATL and BYD.
Until last year, Хіаоmі hаs invested more than 3 billion уuаn (roughly converted to $433 million) іn іtѕ automotive dіvіѕіоn, with a tеаm оf оvеr 2,300 реорlе deployed in research and development.
Self-driving capability is central to Tesla’s financial future, according to Musk, whose own reputation as an engineering leader is being challenged with allegations by plaintiffs in one of two lawsuits that he personally leads the group behind technology that failed. Wins by Tesla could raise confidence and sales for the software, which costs up to $15,000 per vehicle.
Tesla faces two trials in quick succession, with more to follow. The first, scheduled for mid-September in a California state court, is a civil lawsuit containing allegations that the Autopilot system caused owner Micah Lee’s Model 3 to suddenly veer off a highway east of Los Angeles at 65 miles per hour, strike a palm tree and burst into flames, all in the span of seconds.
The 2019 crash, which has not been previously reported, killed Lee and seriously injured his two passengers, including a then-8-year old boy who was disemboweled. The lawsuit, filed against Tesla by the passengers and Lee’s estate, accuses Tesla of knowing that Autopilot and other safety systems were defective when it sold the car.
Musk ‘de facto leader of Autopilot team
File photo of Tesla CEO Elon Musk. (REUTERS)
The second trial, set for early October in a Florida state court, arose out of a 2019 crash north of Miami where owner Stephen Banner’s Model 3 drove under the trailer of an 18-wheeler big rig truck that had pulled into the road, shearing off the Tesla’s roof and killing Banner. Autopilot failed to brake, steer or do anything to avoid the collision, according to the lawsuit filed by Banner’s wife.
Tesla denied liability for both accidents, blamed driver error and said Autopilot is safe when monitored by humans. Tesla said in court documents that drivers must pay attention to the road and keep their hands on the steering wheel. “There are no self-driving cars on the road today,” the company said.
The civil proceedings will likely reveal new evidence about what Musk and other company officials knew about Autopilot’s capabilities – and any possible deficiencies. Banner’s attorneys, for instance, argue in a pretrial court filing that internal emails show Musk is the Autopilot team’s “de facto leader”.
Tesla and Musk did not respond to Reuters’ emailed questions for this article, but Musk has made no secret of his involvement in self-driving software engineering, often tweeting about his test-driving of a Tesla equipped with “Full Self-Driving” software. He has for years promised that Tesla would achieve self-driving capability only to miss his own targets.
Tesla won a bellwether trial in Los Angeles in April with a strategy of saying that it tells drivers that its technology requires human monitoring, despite the “Autopilot” and “Full Self-Driving” names. The case was about an accident where a Model S swerved into the curb and injured its driver, and jurors told Reuters after the verdict that they believed Tesla warned drivers about its system and driver distraction was to blame.
Stakes higher for Tesla
The stakes for Tesla are much higher in the September and October trials, the first of a series related to Autopilot this year and next, because people died.
“If Tesla backs up a lot of wins in these cases, I think they’re going to get more favorable settlements in other cases,” said Matthew Wansley, a former General Counsel of nuTonomy, an automated driving startup and Associate Professor of Law at Cardozo School of Law.
On the other hand, “a big loss for Tesla – especially with a big damages award” could “dramatically shape the narrative going forward,” said Bryant Walker Smith, a law professor at the University of South Carolina.
In court filings, the company has argued that Lee consumed alcohol before getting behind the wheel and that it is not clear whether Autopilot was on at the time of crash.
Jonathan Michaels, an attorney for the plaintiffs, declined to comment on Tesla’s specific arguments, but said “we’re fully aware of Tesla’s false claims including their shameful attempts to blame the victims for their known defective autopilot system.”
In the Florida case, Banner’s attorneys also filed a motion arguing punitive damages were warranted. The attorneys have deposed several Tesla executives and received internal documents from the company that they said show Musk and engineers were aware of, and did not fix, shortcomings.
In one deposition, former executive Christopher Moore testified there are limitations to Autopilot, saying it “is not designed to detect every possible hazard or every possible obstacle or vehicle that could be on the road,” according to a transcript reviewed by Reuters.
In 2016, a few months after a fatal accident where a Tesla crashed into a semi-trailer truck, Musk told reporters that the automaker was updating Autopilot with improved radar sensors that likely would have prevented the fatality.
But Adam (Nicklas) Gustafsson, a Tesla Autopilot systems engineer who investigated both accidents in Florida, said that in the almost three years between that 2016 crash and Banner’s accident, no changes were made to Autopilot’s systems to account for cross-traffic, according to court documents submitted by plaintiff lawyers.
The lawyers tried to blame the lack of change on Musk. “Elon Musk has acknowledged problems with the Tesla autopilot system not working properly,” according to plaintiffs’ documents. Former Autopilot engineer Richard Baverstock, who was also deposed, stated that “almost everything” he did at Tesla was done at the request of “Elon,” according to the documents.
Tesla filed an emergency motion in court late on Wednesday seeking to keep deposition transcripts of its employees and other documents secret. Banner’s attorney, Lake “Trey” Lytal III, said he would oppose the motion.
“The great thing about our judicial system is Billion Dollar Corporations can only keep secrets for so long,” he wrote in a text message.
Tesla Cybertruck is one of the most awaited electric vehicles coming to the market in a few weeks. The US electric car manufacturer has already started production of the electric pickup truck and it is slated for delivery soon. Over the last few months, Tesla Cybertruck prototypes have been spotted in an increasing numbers ahead of its imminent market entry. The latest of them has revealed an interesting fact about the Cybertruck’s tyre.
By: HT Auto Desk | Updated on: 14 Aug 2023, 17:52 PM
Tesla is testing a wider set of tyre options for its upcoming Cybertruck electric pickup truck.
A spy shot of the Tesla Cybertruck posted on Instagram has revealed that the EV manufacturer has been testing the electric pickup truck with more than one tyre size. As the images reveal the tyres appear to have an all-season tread pattern and are sized at 285/65R20. The images also reveal that roughly 35 inches of rubber are wrapped around a 20-inch wheel rim.
The spyshots also reveal the tyres coming with an M+S marking, which means Mud+Snow, confirming that it is an all-season tyre. However, the three-peak mountain with the snowflake symbol is missing from the tyre, which means that it has not been tested and rated for driving in freezing temperatures. The photos also point out an H speed rating, which is usually stamped on sports cars’ tyres. This indicates that the car tyres can sustain speeds of up to 209 kmph.
Interestingly, this is not the first time a Tesla Cybertruck prototype has been spotted with larger asphalt-focused tyres. The tyre pictures that went online recently reveal a look similar to the ones spotted back in 2019 on the original prototype.
The Tesla Cybertruck is currently in the pre-production phase at the automaker’s Texas Gigafactory, with the delivery-intent production expected to commence from next month, and a ramp-up in manufacturing scheduled in early 2024, as Tesla CEO Elon Musk revealed earlier this year.
Over the last few years, several Tesla electric cars have made headlines for reasons that were unexpected and at times, unpleasant. The latest addition to the list of antics performed by Tesla car owners is when an EV bashed through a wall and plunged into a swimming pool. The incident took place in Arizona when a homeowner found the Tesla barreled through his house’s concrete wall and took a dive in the backyard pool, reported AZFamily.
By: HT Auto Desk | Updated on: 06 Aug 2023, 15:10 PM
It is not confirmed if the Tesla EV plunged into the pool because of a driver’s error or some technical glitch. (Image: Youtube/AZFamily)
The report says that despite such a crash into the swimming pool, the Tesla EV’s driver survived without any injury. However, the same can’t be said of the car or the yard it crashed into. The report has further revealed that the police are still searching for the cause of the crash. It is not known if the mishap took place because of the driver’s error or some technical glitch in the car.
The affected homeowner, Joe Papineau, said that he thought that he’d heard an explosion. “I was sleeping in my bed when all of a sudden I hear this huge crash and big explosion,” he said to the local news station. Papineau also said he believes that the Tesla car was passing through the area when another car pulled out in front of him. In a desperate attempt to avoid the accident, the Tesla driver made an evasive manoeuvre but couldn’t recover in time to avoid crashing into the wall and ending in the pool.
The video that emerged online shows the Tesla car has received extensive damage including a demolished windshield. Its front profile got damaged severely. However, the driver reportedly escaped with only minor injuries. There was no other passenger in the car during the time of the accident, the report has further revealed.
