'Primary buyers are commercial taxi and fleet operators and small businessmen.' 'CNG prices have been remarkably stable unlike petrol.'
Ola Electric, India's largest maker of electric scooters, launched its most affordable ride on Tuesday, in an attempt to woo more customers and expand its electric two-wheeler lineup.
India will never provide company or enterprise-specific incentives in the electric vehicle sector, a top government official said on Friday, amid a push from American electric carmaker Tesla for special sops to set up its factory in the country. If the government has to consider providing incentives then it will only be for all EV makers and entrants who want to come to India, the official said. The official added that inter-ministerial discussions have happened on the customs duty concession demand of the US-based electric car maker Tesla, but "we never" came to any conclusion on those.
Electric mobility in India is touted to be the way to the future, but implementation of large-scale projects to bring infrastructure for charging is still lacking.
Risks emerging from the US have left automotive investors worried. US President Donald Trump has announced 25 per cent tariffs on automotive imports, while global electric carmaker Tesla has taken its first steps towards entering India. While these developments are sentimentally negative for related stocks, it may be too early to conclude the eventual impact, analysts said.
If the drop in sales over the past two years is anything to go by, India's dream of putting seven million electric vehicles on road by the end of this decade has come a cropper.
Even as India goes green, lack of uniform standards for setting up charging stations is holding back companies. Alnoor Peermohamed reports.
Even as India overtakes Japan in automotive sales in 2022, moving to third place for the first time, oddly enough the country's biggest motor show is going to see some big hitters give it a clear miss. Some prominent automotive brands have cited high event costs, negligible returns on investment, poor event management, and unfavourable location as reasons for their reluctance to participate. Major pure-play electric two-wheelers, too, are riding past this year's edition of the Auto Expo.
Large manufacturers are investing in small companies to get a peek into their R&D. Alnoor Peermohamed and Anita Babu report.
The Tamil Nadu government on Tuesday cleared the Rs 13,180 crore project by Yuzhan Technology, part of Taiwan's Foxconn Group, at Kancheepuram. The unit is reportedly expected to assemble smartphone display modules, which will be one of the first such units to cater to Apple's growing presence in the country. The unit is expected to generate at least 14,000 jobs. Of the 14 existing manufacturing units in the Apple supply chain, seven are based in Tamil Nadu.
Tesla needs to either sell the same models with reduced features to lower the cost for Indian market, or incur losses.
Two Japanese auto giants, Honda and Nissan, are moving towards a potential merger, but it remains unclear how their Indian operations will be immediately impacted.
Amazon
The electric vehicle evolution in India's passenger vehicle market has remained frozen in time and may see limited adoption over the next decade, experts say.
Maruti Suzuki India (MSIL) will hold discussions with the Centre and state governments on how the production of compressed biogas (CBG), which can be used in vehicles that run on compressed natural gas (CNG), can be expanded in the country, its majority shareholder Suzuki Motor Corporation (SMC) said. The demand for CNG vehicles has been rising significantly in the country. MSIL sold 145,000 CNG vehicles in the first quarter of 2024-25, marking a 28.3 per cent year-on-year (Y-o-Y) growth.
Tata Motors is the leader in the electric car market with about 62 per cent share.
The major reason for the policy confusion over e-vehicles is the lack of conviction within government about the utility of this disruptive technology and its role in India's larger Paris Agreement climate change commitments.
Based on discussions with stakeholders, the ministry is proposing to allocate Rs 26,400 crore for FAME-III subsidy alone with electric two wheelers getting around Rs 8,158 crore, electric buses Rs 9,600 crore and electric three-wheelers Rs 4,100 crore, according to sources in the know. Along with some other components like setting up an innovation fund and money for testing , the total allocation could cross Rs 33,000 crore, estimates suggest.
'Gujarat is the frontrunner at present.'
'However, Tamil Nadu's robust automobile ecosystem and Telangana's aggressive incentives make them strong contenders.'
Foxconn means serious business in India. Its delegation to India was led by its Chairman Young Liu who met Prime Minister Narendra Modi.
The only silver lining in March's performance -- which otherwise dragged down the financial year's momentum -- was a 6 per cent year-on-year (Y-o-Y) growth compared to March of the previous year. This is largely due to incentives, festival-driven gains, and new launches.
Government wants to encourage manufacturing and selling of alternative fuel-based vehicles.
As Modi's government embarks on its third term, apart from ensuring these schemes boost India's green mobility, addressing bottlenecks like battery swapping and meeting PLI deadlines are likely to be the government's major tasks.
The state is also the biggest market for TVS, another incumbent player, and together with Bajaj Auto, they accounted for 88 per cent of Maharashtra's total electric scooter sales last month. As many as 8,417 units were sold in Maharashtra in September. Bajaj Auto's contribution was 4,048 vehicles and that of TVS was 3,389, according to model- and state-wise data from the Society of Indian Automobile Manufacturers (Siam).
Audi plans to focus the Indian market, including deepening market penetration and increasing sales volume.
Posing a series of questions to the prime minister, Congress general secretary in-charge communications Jairam Ramesh also asked if Modi would convey to the US president that India would send its own aircraft -- like Venezuela and Colombia did -- to bring back Indian deportees in the future.
Police have registered a case on charges of culpable homicide not amounting to murder against the driver of a BEST bus involved in an accident in Mumbai which claimed six lives and left 43 others injured, officials said on Tuesday.
New electric and hybrid vehicles on display as manufacturers plug into environment-friendly segment.
To come up with first EV by 2025, expects market to grow two to three-fold in the next ten years.
Maruti Suzuki India Ltd (MSIL), the largest passenger vehicle manufacturer in India, has set a road map to expand its global presence by targeting exports of 800,000 units by the end of this decade -- almost double the approximately 280,000 units sent abroad in 2023-24, Rahul Bharti, executive director, corporate affairs, told Business Standard. The company's upcoming electric vehicle (EV) strategy is expected to play a crucial role in its global ambitions.
'From data on enquiries, we can build what we call a data lake or a data warehouse where data is classified into various cohorts and then we use AI and ML tools to predict demand down the line.'
The death toll in the BEST bus accident in Mumbai has risen to seven, officials on Tuesday said as experts inspected the wet leased vehicle to ascertain if it had any mechanical fault.
Consumers should be given freedom to make a logical choice, and manufacturers enough leeway so that they can produce what the consumer wants.
The Budget has given signals that India is sensitive to the US needs and willing to walk the extra mile, but if need be, we should respond in equal measure as a sovereign nation, notes Ajay Srivastava.
From Tetley Tea to Jaguar Land Rover and Air India, Ratan Tata has ticked off almost every item on his bucket list. However, one that remains unfinished is the electric version of his small car, the Tata Nano. A concept entrusted to Coimbatore-based Jayem Automotives (Jayem Auto) is still on the shelves, despite nearly 400 cars being launched, primarily due to Covid-19 and new crash norms.
Major two-wheeler manufacturers in India witnessed a double-digit increase in domestic sales in October, driven by the festival fervour.
Vietnam-based electric vehicle maker VinFast, a rival of Tesla in the global market, has set foot in India and began work on building its Rs 16,000 crore EV manufacturing facility at Thoothukudi in Tamil Nadu. The company has already sought a reduction in import duties on its cars for about two years until customers get familiar with the brand and its unit in the state. The global major kicked off the construction of the first phase of its integrated EV hub, which may see Rs 4,000 crore of investment initially and will create more than 10,000 jobs.
Ola Electric is moving the delivery for the first batch of its electric scooters to between December 15 to the end of the month, a two- to four-week delay from its earlier schedule, due to a shortage of chipsets and electronic parts. The first batch of deliveries were scheduled for November 30 but the company decided to delay them after a meeting between its factory team and the global supply chain on Saturday. It became clear that the late delivery of chips and electronic parts was only 'getting worse', sources told Business Standard. Ola has apologised to customers for the delay and said it is "ramping up production as fast as we can so that you can get your Ola S1 at the earliest". It has stopped taking any new bookings until the chip shortage has eased, say sources.
May invest around $100 mn in setting up a 200-acre park
This is not the first EV that Mercedes would be making in India though. It has been making the EQS sedan here for the last 18 months, and has sold 500 units of the car.
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