Electric Vehicles In India

Electric two-wheeler sales in India rose over two-and-half fold to 8,46,976 units in 2022-23 over the previous fiscal, Society of Manufacturers of Electric Vehicles said on Monday. Total sales of e-two-wheelers (E2W) were at 3,27,900 units in 2021-22. Citing data sourced from manufacturers, Society of Manufacturers of Electric Vehicles (SMEV) said FY23 saw sales of 1.2 lakh low-speed (LS) e-scooters with top speed less than 25 km/hr. "In the electric two-wheeler segment, the industry sold 7,26,976 high-speed E2W (top speed more than 25km/hr) in FY 2023," it added. In 2021-22, sales of low speed e-scooters were at 75,457 units, while those of high speed e-scooters were at 2,52,443 units. SMEV said in FY23 E2W adoption ended "with an annual shortfall of more than 25 per cent over the minimum target set by Niti Aayog and various research organisations". The industry body said withholding of subsidies under FAME II for not complying with Phased Manufacturing Programme (PMP) guideline

Capacity of plant in Karnataka would be ramped up in phases to produce one million units by 2030

Electric three-wheelers are expected to gain traction due to favourable operating economics, and the government's focus on cleaner means of transportation, domestic credit rating agency Icra said on Monday. According to a recent Icra report, the electric segment is likely to account for 14-16 per cent of new three-wheeler sales (excluding rickshaws) by FY2025, up from 8 per cent currently. Penetration is estimated to rise to 35-40 per cent by FY2030 as the product gains more acceptance and financing-related challenges subside, as per the report. Icra said, according to its recent channel check, most e3W dealers have seen double-digit growth in sales in the last two years, owing to various factors, such as lower operating costs, exemptions from registration and road taxes, and higher demand for last mile connectivity. However, while demand for e3Ws (including e-rickshaws) is increasing, sales have been limited by a lack of financing options, with the loans being offered at ...

Mercedes-Benz is the market leader in the luxury car market of India with about 44 per cent share

"The Indian govt's initiatives on EVs are very strong and customers want to buy EVs. This will make the country's conversion to EVs faster than other markets, and I hope even faster than the US"

Electric two-wheeler maker Kabira Mobility on Friday said it has secured USD 50 million (around Rs 412 crore) funding from Qatar-based Al-Abdulla Group. The Panjim-based company plans to utilise the capital to fund its future growth in the country. The company plans to ramp up production capacity of its electric bikes KM3000, KM4000, introduce new products and enhance sales infrastructure across the country. The company currently has an installed production capacity of 40,000 units a month at its Dharwad-based plant in Karnataka. In an interaction with PTI, Kabira Mobility CEO Jaibir Siwach said the company has raised USD 50 million through equity sale. The companies, however, did not share the exact details of the deal. Siwach said the production capacity of the Dharwad plant could be enhanced to 60,000 units a month. "We are also looking to set up a new manufacturing facility around Jewar in Uttar Pradesh with an installed capacity of 1.25 lakh units a month," he noted. The p

In the past three trading days,Olectra Greentech has rallied 24% after EVEY received two Letter of Awards from the Telangana State Road Transport Corporation for 550 Electric Buses

Instead of the Fame-II scheme, the benefits may be given through the production-linked incentive (PLI) scheme

Major Apple Inc supplier Foxconn said on Saturday it was seeking cooperation in India in new areas like chips and electric vehicles (EVs) after a visit to the country by its chairman, Liu Young-way

In India, it's the hybrid market that Maruti Suzuki is understandably targeting

Uber has set a 2040 target for 100% of its rides to be in zero-emission vehicles, public transport or with micro-mobility, including in India

Company likely to see net losses for FY23 & FY24

Too early to celebrate the lithium find

The Ather Grid App allows scooter owners to locate and check the availability of the nearest charging stations in real-time

FAME-II was launched with an outlay of Rs 10,000 crore for a three-year period, but was extended till March 2024

The current demand of lithium ion batteries, around 3 gigawatt hour (GWh), is projected to touch around 20 GWh by 2026 and 70 GWh by 2030

Reimbursement of state goods and services tax (SGST), investment and turnover based subsidy, advanced chemistry cell subsidy, electrification of public and commercial transport.

The ex-factory price norm was added to the FAME scheme to make E2Ws affordable for buyers and also boost sales

While almost all cars that fell into that category cost less than larger sedans or even mid-size SUVs, the underlying truism led to two realities

The dip comes after sales hit an all-time monthly high of 119,483 units in November