Electric vehicle (EV) sales in India topped the 1 million mark in less than nine months in 2023, a milestone that took an entire year in 2022. According to data from the Ministry of Road Transport and Highways' Vahan Dashboard, 1,037,011 EVs were registered with regional transport offices till September 19, accounting for 6.4 per cent of the total automobile sales in the country this year. The sales surge can be attributed to increased individual purchases as well as business-to-business (B2B) acquisitions by EV fleet operators, industry sources said.
The e2o is manufactured by Mahindra Reva Electric Vehicles.
Model 3 received 180,000 orders worldwide.
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.
India is sceptical that Tesla might import into the country cars made in China. Tesla executives were in India last month and appear to have proposed a factory in the country. But do not be surprised if that does not happen in a hurry.
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.
The vehicle will not be available until end-2017, or later.
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.
In October, the company had launched Ciaz in both petrol and diesel options.
Government needs to promote electrification and charge points and make sure India has stable power supply.
The Centre on Wednesday scrapped the mandatory human safety tests for electric vehicle (EV) batteries required to qualify for incentives under various government schemes. The ministry of heavy industries, in its fresh guidelines, has made compliance with the ministry of road transport and highways (MoRTH's) prevailing EV battery testing standards the only requirement to get incentives under the Centre's various incentive schemes.
Manufacturers of electric vehicles (EVs) have been lukewarm to the ad hoc subsidy scheme announced by the Centre for them. Sector majors have not been enthused by the lower level of incentives in the scheme, which has replaced the flagship Faster Adoption and Manufacturing of Electric (and Hybrid) Vehicles-II. Moreover, increased stringency in claiming subsidies and delays in disbursement have been cited by several original equipment manufacturers (OEMs).
Proliferation of home chargers of around 7 KWh and above, which take six to seven hours to fully charge a car depending on the model, bring running costs down by a third or so. That, coupled with the increasing range of modern electric cars, can lead to a massive increase in sales.
"There were discussions and the ministry had received suggestions that petrol-diesel vehicles should be banned. I would like to clarify that the government does not intend to ban petrol and diesel vehicles. We are not going to do anything like that," Gadkari said, addressing a gathering at the Society of Indian Automobile Manufacturers (SIAM) annual convention, 2019.
According to research by IHS Markit, for an ecosystem still grappling with infrastructure issues -- the high cost of EVs and a greater OEM (original equipment manufacturer) focus on electrifying two-wheelers and commercial vehicles first -- the share of such vehicles is expected to be 4 per cent by 2030, reports Pavan Lall.
London Mayor Boris Johnson officially welcomed the introduction of the buses.
Five cities -- Delhi, Bengaluru, Kolkata, Hyderabad and Surat -- ceded their power of procurement and agreed to a different procurement model to operate state-run buses.
India's second-largest passenger vehicles firm will be valued at Rs 1.59 trillion at the top-end of the price band of Rs 1,865-Rs 1,960.
Subsidies have been stopped for several manufacturers that are under investigation for alleged violations of local-sourcing rules.
'Two would be premium products and three would be mainstream products.'
Industry executives say the government could help in lowering prices of green vehicles by encouraging domestic research and development.
A host of passenger and commercial vehicle manufacturers displayed 'green' vehicles at the Auto Expo. Maruti Suzuki, Hyundai and Tata Motors displayed 100 per cent plug-in electric car concepts, while commercial vehicle manufacturers like Ashok Leyland displayed concept hybrid buses, fuelled both by electricity and diesel.
For the first time in history, the luxury car market is poised to cross the sales mark of 50,000 units in 2024, with Mercedes leading the way
as the FAME II deadline of March 31, 2024, nears, EV manufacturers are worried about their investments and future plans.
The e-SURVIVOR symbolises Maruti Suzuki's commitment to help develop the entire life cycle of EVs in India
Ola Electric's technology team is working hard to iron out the technical kinks that marred the electric vehicle company's hyped online sale of its electric scooters (e-scooters) - the S1 and the S1 Pro - on Wednesday, said company sources. The SoftBank-backed firm is facing technical difficulties in making the website live for the purchase of its e-scooters. According to company sources, the website couldn't go live as there were integration issues.
As the government plans no further extension of the scheme beyond FY24, the task is to achieve the unfinished target of subsidising 914,707 EVs.
Auto Expo 2023 may not trigger a fresh rally in automobile stocks, say analysts, as this year's edition lacks participation from major listed players. It is also owing to the focus on electric vehicles (EVs), a segment where four-wheelers have minuscule market share. "In the passenger vehicles (PV) segment, Maruti Suzuki India and Tata Motors are the only listed players.
Automotive (auto) and auto ancillary stocks have been in the fast lane thus far in 2023-24 (FY24), with the National Stock Exchange Nifty Auto Index surging nearly 27 per cent, outperforming the Nifty50, which has gained roughly 11 per cent during this period. The top-gear performance of auto stocks at the bourses, according to A K Prabhakar, head of research at IDBI Capital, has been triggered by the premiumisation of products across vehicle manufacturers, which has seen vehicle sales remaining relatively stable. "It is not about higher sales figures now, but about premiumisation.
During the six-day-long event, automakers have planned 10 global launches, 26 India specific launches, six concept vehicles, seven facelifts and 21 vehicle unveilings.
'If it is your second car (electric vehicle), you typically keep it for travel within the city.' 'And the first car (internal combustion engine-run vehicles) can then be used to travel to some other cities.'
GST will yield 'better value for money' for car buyers, increasing automobile industry demand, says Sandip Neogi.
The much awaited Mahindra e20 launched on Tuesday.
On December 15, 2020, JLR announced that it has opened bookings of its first Plug-In Hybrid in India, the New Defender P400e.
The global semiconductor shortage hit passenger vehicle sales in September, with major manufacturers like Maruti Suzuki, Hyundai and Mahindra & Mahindra reporting a decline in sales on Friday. Kia India and Honda Cars also reported a dip in wholesales last month as compared with the year-ago period. Carmakers like Tata Motors, Toyota Kirloskar Motor, Nissan and Skoda, however, reported an increase in passenger vehicle dispatches last month despite supply chain issues.
An EV has to be purchased along with the battery as there are hardly any battery swapping, rental, or leasing business models available across India.
The MG ZS EV, to be unveiled next month, will go head to head with Hyundai Kona, launched in July this year as the country's first fully electric SUV.
The Honda City is an iconic brand for the Japanese carmaker
'A lot of players such as Maruti and Hyundai are entering the market in the first and the second quarters of 2025.'
The company will showcase the Ioniq electric vehicle at the Auto Expo that begins next week.
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