Page 7 - Electric Vehicles

Musk-owned Tesla adjusts its EV pricing for 4th time in US in over a month

Elon Musk-owned Tesla has adjusted the pricing for its electric vehicle in the US for the fourth time in just over a month

Domestic commercial vehicle sales volume likely to grow by 9-11% in FY24

Domestic commercial vehicle sales volume is expected to grow 9-11 per cent in FY24 driven by medium and heavy commercial vehicles and an estimated economic growth of around 6 per cent, rating agency CRISIL said on Monday. Besides, an increased allocation to infrastructure spending in the Union Budget for next fiscal year will support demand, it said. This would be the third consecutive year of growth in the domestic CV industry, according to CRISIL. Of the total domestic CV sales, the light commercial vehicle (LCV) segment may grow 8-10 per cent while the medium and heavy commercial vehicle (MHCV) sale is expected to register a higher growth of 13-15 per cent in FY24, it said. With strong demand prospects, we expect LCV sale volumes to grow 8-10 per cent next fiscal, and cross pre-pandemic (fiscal 2019) sale volumes. MHCV sale volumes will continue to grow faster than LCVs at 13-15 per cent next fiscal, but are expected to exceed pre-pandemic sale volumes in fiscal 2025, said Anuj

Electric vehicles likely to equal petrol cars in price this year: Report

The tipping point when EVs become as cheap or cheaper than cars with internal combustion engines could arrive this year for mass market models and is already the case for some luxury vehicles

Ola rides down the value chain, accelerates into the mass market

Ola is also pushing the pedal in the premium electric scooter market ( Rs 1 lakh to Rs 1.5 lakh) where it has a 50 per cent share

A slow turn in EV sales as investor funding, state subsidies continue

Fewer than six out of every 100 vehicles sold in India are electric

Ola Electric unveils 5 electric motorcycles, launch planned next year

Ola said the success of the S1 Pro and S1 have cemented its market leadership

World's fastest accelerating e-car unveiled at Hyderabad e-motor show

Battista, the world's fastest accelerating electric car, was unveiled at Hyderabad E-Motor Show here on Thursday

Mahindra to invest $121 million to set up EV facility in Telangana

Mahindra and Mahindra said on Thursday it will invest 10 billion rupees ($121 million) to set up a manufacturing facility in the southern state of Telangana to make electric three- and four-wheelers

Unintended consequences

Subsidy on EVs must be revisited

Cobalt's battery-powered boom in 2022 on EV demand surge busts

Pound for pound, the batteries used in laptops, phones and tablets contain much more cobalt than EV batteries, and demand from the industry has fallen about 30% to 40% over the past year

Zypp Electric raises $25 million in Series B funding round led by Gogoro

Zypp plans to deploy 200,000 electric scooters and expand its footprint to 30 cities

EV startup Zypp Electric nabs $25M to hit 30 Indian cities by 2025

EV-as-a-service platform Zypp Electric on Wednesday announced raising funds of USD 25-million under series B funding from a clutch of investors, led by Gogoro. The round is a mix of equity and debt funding, with the USD 20-million equity round and USD 5-million debt for fleet expansion from global impact fund IIX along with a large national bank participating the same, the company said. This is also the first time global impact funds and Indian banks are participating in EV debt for any fleet operator or startup in the country, it added. Besides Gogoro, the latest funding round also witnessed participation from new and existing investors like Goodyear Ventures, 9Unicorns, WFC, Venture Catalysts, LetsVenture, IAN, Ivygrowth, Grip & other angels. In November last year, Gogoro and Zypp formed a strategic B2B partnership to accelerate the electric transformation of fleets and last mile deliveries in India. Under the pilot project, Zypp and Gogoro are deploying 100 ...

Top players showcase next gen EV models at Hyderabad e-motor show

Top automotive players are showcasing their next gen electric vehicle models at the inaugural Hyderabad E-Motor Show, which began here on Wednesday

Top headlines: Two-wheeler EVs under fire, Vivad se Vishwas-II, and more

Business Standard brings you the top headlines at this hour

FAME subsidy violation: Two-wheeler EVs under fire for pricing breach

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

Turning India into a green mobility hub

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

Subsidy halt, price rise and supply-chain bottlenecks hit EV sales in 2023

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

CNG, EVs, hybrid vehicles to comprise 30% of total auto sales: ICRA

CNG, EVs and hybrid vehicles may grab up to 30 per cent share in total auto sales in next five years even as petrol cars are likely to dominate passenger vehicle volumes in medium-term, a report said on Tuesday. Demand for Electric Vehicles (EVs) has increased exponentially in the last two years with the government's push, increasing awareness, and new launches, domestic rating agency Icra said in its report. However, the share of EVs in the overall PV (passenger vehicle) industry remains low, at 1 per cent currently, it stated. On the other hand, CNG vehicles have also gained prominence in recent years, aided by favourable running costs, improving penetration of CNG dispensing stations across the country, and enhanced product offerings by OEMs, Icra said and added, lower emissions in CNG vehicles would also help OEMs (original equipment manufacturers) comply with the impending Corporate Average Fuel Economy (CAF) norms. Noting that a cohesive approach from all stakeholders is ...

Murugappa group's Chola expects 30% AUM growth next fiscal, bets on EVs

Chennai-based company is expanding EV presence by forming tie ups with original equipment manufacturers

Volvo may set up its new EV manufacturing facility in India: Report

Volvo, in 2022, had announced its plans to expand its certified used-car business across India by early 2024