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'The petrol lobby is very rich and strong.'
Major two-wheeler (2W) manufacturers in India witnessed a single-digit decline in domestic sales in November after dispatches had picked up in October for the festive season when wholesales went up by 14 per cent and retail also grew by 36 per cent.
Government wants to encourage manufacturing and selling of alternative fuel-based vehicles.
With India's EV penetration at just 2.5 per cent, the market presents an opportunity -- provided Tesla gets its pricing right.
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.
'Currently, EVs are about 30-50 per cent more expensive than ICE vehicles. I believe the inflection point for EVs will come when this price gap narrows to 20-25 per cent. That's when people will start coming in.'
Analysts believe Tesla will first focus on building the Model Y brand before expanding -- both in terms of volume and models.
South Korean auto major Hyundai Motor Co president & CEO Jose Munoz on Wednesday said the company's Indian arm will invest Rs 45,000 crore by FY30, aiming to make India its second-largest region globally. Addressing investors here in his first visit to the country, Munoz said Hyundai Motor India Ltd (HMIL) has set a target of up to 30 per cent export contribution.
Hyundai Motor India Ltd (HMIL) has since 2019 saved around Rs 5,700 crore in foreign exchange (forex) by locally manufacturing or sourcing more than 1,200 components, including battery packs for electric vehicles, said a senior executive of the automaker. The company's efforts for Aatmanirbhar Bharat, the government's campaign for domestic manufacturing, have resulted in a localisation rate of 92 percent in India, said Gopalakrishnan Chathapuram Sivaramakrishnan, whole-time director and chief manufacturing officer at HMIL.
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.
Amazon
In absolute terms, both types of cars must cut emissions by about 28-29 g/km. But in percentage terms, the lighter 900-kg car must reduce emissions by 27 per cent, while the 1,500-kg car needs a 22 per cent cut. And the target becomes progressively stringent for both -- but, once again, the tightening is sharper for the 900-kg car than for the 1500-kg car.
'I'm very much against petrol and diesel....'' 'I travel in an electric car.' 'I have had a really good experience with it.'
Tesla's plan to manufacture its affordable electric car priced at $25,000 in India and Mexico could materialise sometime in 2025 or thereafter, with Elon Musk declaring that these models would be produced at its existing factories to utilise their full capacity before investing in new manufacturing lines. The company operates factories in Texas and Fremont in the US, Berlin in Germany, and Shanghai in China. By the end of the calendar year 2023, Tesla was manufacturing 1.8 million vehicles annually.
Lining up its 2030 strategy, Hyundai said it was targeting up to 30 per cent export contribution and over 1.5-fold rise in revenue, to cross the 1 trillion milestone in five years.
For the first time, the event will take place across three locations in Delhi: Bharat Mandapam at Pragati Maidan, Yashobhoomi Convention Centre at Dwarka, and India Expo Mart at Greater Noida.
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.
New electric and hybrid vehicles on display as manufacturers plug into environment-friendly segment.
The US carmaker's entry into India is expected by the last quarter of the current financial year.
'The scheme excludes tractors, light commercial vehicles, and medium and heavy commercial vehicles.'
Any industrial policy is only as good as how it is applied and the other reforms that support it. This was as true 40 years ago as it is now, points out Debashis Basu.
'The real story of 2025 is that India officially stopped being a 'market of the future' and started acting as the world's primary economic engine.'
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.
The 17 rare earth elements that are at the centre of the current crisis are critical components of everyday products -- from cars to jet engines to electronics like smartphones and flat-screen TVs.
Starlink's application for offering satcom services in India had been held up for the company's inability to comply with mandatory ownership disclosure norms.
Dysprosium and terbium, two heavy rare earth elements with unique properties, are not available in extractable quantities in India.
Tesla's official entry into the Indian market is expected in the final quarter of the current financial year.
'A bus driver should possess a comprehensive road plan: Toll plazas, major hospitals, road conditions, repairs, diversions, and dangerous areas.' 'Only through such preparation can we save lives.' 'Otherwise, simply sitting in the driver's seat and pressing the accelerator -- anyone can do that.'
The Ministry of Heavy Industries has approved 11 electric vehicle (EV) manufacturers, including Ather Energy, Bajaj Auto, Hero MotoCorp, Ola Electric, and Mahindra, to receive incentives under the recently introduced Electric Mobility Promotion Scheme (EMPS) 2024. "A total of 11 firms have been granted approval under the EMPS, with several more under consideration," informed a senior official of the ministry to Business Standard. The scheme aims to sustain the growth in EV sales, replacing the Faster Adoption and Manufacturing of Electric Vehicles - II (FAME-II) scheme.
Players like Ola Electric, Ather Energy, Kinetic Green and BGauss are introducing premium services and infrastructure enhancements.
'Crude oil prices are around $66-67 per barrel now but could fall to $55-60 if global disturbances ease.'
Auto manufacturers have focused on launching CNG variants of their popular models to meet consumer demand for vehicles with lower running costs.
Foxconn means serious business in India. Its delegation to India was led by its Chairman Young Liu who met Prime Minister Narendra Modi.
Consumers should be given freedom to make a logical choice, and manufacturers enough leeway so that they can produce what the consumer wants.
The auto major is not just looking at domestic sales, but also planning to ramp up exports to key markets from here, like the Middle East, North Africa and Australia.
May invest around $100 mn in setting up a 200-acre park
Chinese electric carmaker BYD is focusing on launching vehicles in the Rs 25-45 lakh price range in India even as it continues to evaluate customer preferences and demand in more affordable segments, its Head of Electric Passenger Vehicles in India Rajeev Chauhan told Business Standard.
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.
'In terms of incentives, if you think about it, hybrids are a 20-year-old technology.'
