Page 13 - Electric Vehicles

Three South Korean EV battery maker's global market sinks in 2022

The market portion of LG Energy Solution fell to 12.3 percent from 19.6 percent during the period, with its global ranking dropping to third place from second

Nvidia, Foxconn join hands to build automated EV platforms at CES 2023

Under the agreement, Foxconn will be a tier-one manufacturer, producing electronic control units (ECUs) based on Nvidia DRIVE Orin for the global automotive market

South Korea fines Tesla $2.2 million for EV range exaggeration: Report

The driving range of the American EV manufacturer's cars plunge in cold weather by up to 50.5% versus how they are advertised online, the KFTC said in a statement on Tuesday

Electric scooter maker WardWizard Innovations and Mobility's sales doubled

Electric two-wheeler maker WardWizard Innovations and Mobility Ltd on Tuesday reported an over two-fold increase in sales at 43,914 units in 2022. The company, which sells e-two-wheelers under the 'Joy e-bike' brand, had sold 18,963 electric two-wheelers in 2021, it said in a statement. In December 2022, the company said its sales were at 5,400 units as against 3,860 units in the year-ago month, a growth of 39.89 per cent. "The calendar year 2022 has been an important year in which the company achieved new sales milestones, entered into new segments and expanded its presence across global markets," WardWizard Innovations & Mobility Chairman & Managing Director Yatin Gupte said. As the adoption of electric mobility is increasing, he said, "We are expecting new opportunities in the industry; overcome previous challenges, and observe strong growth momentum.

SMEV seeks extension of subsidies for EVs under FAME-II in Budget

Society of Manufacturers of Electric Vehicles on Tuesday sought extension of subsidies for EVs under the FAME II scheme and also include light to heavy commercial vehicles in it to promote electric mobility. In its pre-Budget recommendations, the industry body also called for a uniform 5 per cent GST on spare parts for electric vehicles. "The validity of FAME II is set to expire on March 31, 2024. We believe FAME's validity needs to be extended since we have yet to meet the penetration the subsidy was supposed to catalyse," Society of Manufacturers of Electric Vehicles (SMEV) said in a statement. The new FAME II scheme should be linked to e-mobility conversion rather than being time-based, it added. The EV industry body said market trends suggest that e-mobility, particularly electric two-wheelers (E2W) has the potential to continue growing once it reaches 20 per cent of the total two-wheeler market. "The subsidy can be tapered thereafter," it said, adding the FAME II scheme shoul

Switch Mobility becomes L1 bidder for 3 of 8 mega electric bus tenders

Makes bids for 2,500 e-buses, PMI second with 2,080 electric buses

Electric two-wheeler sales surge 300%, breach 600,000-mark in 2022

In the first 9-months of the FY23, 506,000 2-wheelers sold

In 2025, 80% of total bus fleet in Delhi will be electric: CM Kejriwal

By 2025 end, 80 per cent of Delhi's total bus fleet will be electric, Chief Minister Arvind Kejriwal said on Monday and asserted that acquisition of e-buses will go a long way in reducing pollution in the national capital. Sharing a roadmap for procurement of electric buses, he said the government will be buying 1,500 such vehicles in 2023 and by 2025, 6,380 electric buses will be bought. Kejriwal, who flagged off 50 electric buses from Rajghat Depot here, said the addition of the new buses will take the electric buses plying on the Delhi roads to 300. Congratulating the officers behind the mission and the people of Delhi, he said, With the induction of 50 new electric buses today, Delhi now has 7,379 buses under its city bus transportation fleet. This includes 4,060 buses being operated under Delhi Transport Corporation (DTC) and 3,319 buses being operated under DIMTS (Delhi Integrated Multimodal Transit Systems). This is the highest ever number of buses in Delhi's fleet." The chi

Electric two-wheeler sales may miss FY23 target of 1 mn units by 20%: SMEV

Electric two-wheeler sales could miss the target of 10 lakh units in fiscal 2022-23 by 20 per cent, mainly due to withholding of around Rs 1,100 crore subsidy by the government, according to industry body SMEV. In 2022, sales of electric two-wheelers stood at around 6 lakh units, with three major electric two-wheeler (E2W) makers -- Hero Electric, Ola and Okinawa -- crossing the 1 lakh annual sales mark for the first time, the Society Of Manufacturers Of Electric Vehicles (SMEV) said. These original equipment manufacturers (OEMs) dominated the E2W market, controlling over 50 per cent of the total market share, and emerged as the top players in the category. Though the E2W industry performance in the calendar year 2022 looks positive with sales of around 6 lakh units, "the volumes are not keeping up with the projections made by Niti Aayog and many other research agencies", SMEV said. "December has raised a red flag for the industry as it has witnessed a 28 per cent dip in sales, ...

JSW Group mulls foray into EVs, to manufacture 4-wheelers: Seshagiri Rao

Sajjan Jindal-led conglomerate JSW Group is considering a foray into the manufacturing of electric vehicles, according to a top official of the group. "The group had examined EV manufacturing plans earlier also but now it is becoming attractive," JSW Group Chief Financing Officer Seshagiri Rao told PTI. The manufacturing of EVs is being discussed actively at the group level, he said while divulging JSW Group's plan to expand its presence into more sectors. The group is looking to manufacture four-wheelers, Rao said. When asked about details of the manufacturing location, he said it is yet to be decided. On the timeline for the launch of an EV manufacturing facility, he said, "it (plan) is at advanced stages." JSW Group company JSW Steel owns and operates a one million tonne per annum (MTPA) steel plant at Salem in Tamil Nadu. The company manufactures auto-grade steel at Salem plant and supplies the high-value steel to automobile companies including the EVs makers. Besides, the U

EV industry ends 2022 with one million unit sales; worries loom ahead

Despite consumer interest EVs, reluctance on the part of the auto industry to invest more in them, lack of long-term policy and the rising number of Covid cases put the sector at risk

MG Motor India retail sales rise 53% to 3,899 units in December 2022

MG Motor India on Sunday reported a 53 per cent rise in retail sales at 3,899 units in December 2022. The company had sold 2,550 units in the same month in 2021. The twin challenges of the pandemic and logistical headwinds have had an impact on production, but the coming month could see an improvement across many of these parameters, the company said in a statement. MG Motor said it has continued to foster EV adoption in the country in the form of multiple industry partnerships such as those for charging station installations with JioBP and BPCL. A total of 150 chargers have been installed across the country as part of MG's drive to support the EV infrastructure in India. Sales of the company's ZS EV recorded a growth of over 60 per cent in 2022, it added.

E-two-wheeler sales ride past 500,000-mark in 2022, penetrate 4% of mkt

See big action next year amid a few rough patches on the road

Eicher Motors to invest over Rs 440 cr in electric bike firm Stark Future

Eicher Motors Ltd on Thursday said it will acquire a 10.35 per cent equity stake in Spanish electric motorcycle maker Stark Future for 50 million euros (over Rs 440 crore). The acquisition is part of a strategic collaboration in the electric motorcycle space with Stark Future SL, said Eicher Motors, the parent company of Royal Enfield, a mid-weight motorcycle manufacturer. The Board of Directors of Eicher Motors Ltd at its meeting held on Thursday "approved an investment of euro 50 million for a close to 10.35 per cent equity stake in Stark Future", the company said in a statement. With this investment, Eicher Motors will have a seat on Stark Future's Board, and will explore further opportunities to collaborate in the space of electric mobility, it added. The investment will pave the way for a long-term partnership in collaborative research and development in electric motorcycles, technology sharing, technical licensing and manufacturing, the statement said. Eicher Motors Ltd Mana

15 electric auto-rickshaws catch fire near charging station in Gujarat

As many as 15 electric auto-rickshaws, part of a fleet used to ferry tourists around the Statue of Unity in Gujarat's Narmada district, were gutted in a fire early Thursday morning, officials said. The Statue of Unity Area Development and Tourism Governance Authority (SOUADTGA), however, denied reports that the rickshaws caught fire during battery charging. A private firm manages a fleet of more than 90 electric auto-rickshaws for tourists who visit the Statue of Unity and employs local tribal women as drivers, an official said. "During early hours of Thursday, 15 auto-rickshaws parked at a charging station near Kevadia village caught fire due to unknown reasons. The autos were parked 35 feet away from the charging station which proves that rickshaws did not catch fire during battery charging," said a statement issued by SOUADTGA. Personnel of the local fire brigade rushed to the spot and doused the fire before it could spread to other electric three-wheelers parked nearby, it said

JBM Auto hits over 7-month high in a volatile market; rises 26% in 2 weeks

In the past two weeks, it has rallied 26 per cent in an otherwise volatile market. In comparison, the S&P BSE Sensex was down 3 per cent, during the same period

Three Wheels United inks pact with Piaggio to buy 3,300 electric vehicles

Tech-enabled EV financing firm Three Wheels United (TWU) has inked an initial pact with small commercial vehicle maker Piaggio Vehicles to procure 3,300 electric three-wheelers, a release said on Monday. Under the partnership, the company will facilitate easy and affordable financing for individuals and fleet operators to easily switch from conventional engines to EV three-wheelers, Three Wheels United said in a statement. Drivers will be provided loans covering up to 100 per cent of the vehicle cost without any collateral, the company said, adding that its driver app, which provides details on the locations of charging stations, parking options, and vehicle maintenance, will offer constant support to them. These vehicles will be deployed across Delhi-NCR, Uttar Pradesh, Karnataka, Kerala, Telangana, Maharashtra and Andhra Pradesh over the next one-and-a-half year, it stated. Additionally, TWU will provide a buyback option that allows drivers to sell their existing more than ...

EV makers optimistic about delivering fire-proof experience to riders

As India goes ballistic on the electric vehicle (EV) adoption, the real test of EVs, especially two-wheelers, will happen again with the onset of summer next year

EV maker Avon Cycles denies allegations over misappropriation of incentives

India's Avon Cycles Ltd has denied any wrongdoing in a scheme granting subsidies to vehicle manufacturers to boost the sale of electric vehicles (EV)

Chinese EV firm Xpeng Aeroht's $1,40,000 car can fly over traffic jams

"The flying car is approaching reality and we think it was the right time to chip in," Brian Gu, Xpeng's president, said on the sidelines of the Dubai event, called GITEX