Through the collaboration, Ather will gain access to BPCL’s network of over 21,000 fuel stations across the country, facilitating the installation of Ather’s public fast-charging grid.

Ather already has more than 1,400 chargers across 100 cities.

“Our partnership with BPCL builds the momentum even further to create a widespread, nationwide fast-charging network,” Ather Energy Chief Business Officer Ravneet Phokela said in a statement.

As electric vehicle adoption continues to grow, the company believes that strategic alliances like these play a crucial role in making charging infrastructure more accessible, he added

Source : zeebiz

Lotus is offering base Eletre, mid-level Eletre S, and top Eletre R models, all with a 112-kwh battery pack. The pack features prismatic cells in a cell-to-pack configuration that eliminates battery modules, decreasing weight and
increasing energy density to more than 175 watt-hours/kilogram, Lotus claims. European WLTP range estimates are 373 miles for the base Eletre and Eletre S, and 304 miles for the Eletre R.

Lotus founder Colin Chapman followed the maxim “simplify and add lightness” when designing Lotus’ petite sports cars and race cars, but today’s Lotus engineers could only do so much with a vehicle of this size (at 200.9 inches, it’s longer than a Range Rover) with a larger battery pack onboard. Even the lightest Eletre—the base model—weighs a hefty 5,489 pounds. That’s with what Lotus claims is extensive use of aluminum in the Eletre’s Electric Premium  seconds and reach a 165-mph top speed, according to Lotus, while other versions take 4.5 seconds to reach 62 mph and top out at 160 mph. Adaptive air suspension, active anti-roll bars, brake-based torque vectoring, and four-wheel steering should help manage the mass in corners.

Lotus also claims a coefficient of drag of just 0.26, with active aerodynamic elements to maximize efficiency and performance. An active grille can open and close as needed for cooling or aerodynamic benefit, while an active rear spoiler can adjust to provide either additional downforce or less drag, as needed. Pop-up lidar sensors for the driverassist systems and camera mirrors (for Europe and China, at least) help further reduce drag.
Inside, the Eletre features a 15.1-inch OLED touchscreen, 12.6-inch OLED instrument cluster, and a 29.0-inch headup display. The dashboard itself was designed with the minimal amount of material necessary, to further save weight. Available Re-Fibre upholstery is made from fashion-industry waste, reducing consumption of raw materials, according to Lotus. In keeping on-brand, the automaker also noted that this material is lighter than leather upholstery.

Eletre deliveries have already begun in China and are scheduled to start in the U.K. and Europe soon. Pricing starts at 89,500 British pounds and 95,990 Euros, equivalent to roughly 114,000 and 105,000 at current exchange rates,respectively. Lotus hasn’t discussed a timeline for U.S. sales.

The Eletre is Lotus’ first volume EV, following the very limited production Evija supercar. The automaker has some notable history with electrification, as the original Tesla Roadster was based on the Lotus Elise.

The brand’s electrification shift is set to continue with a high-volume sports car launching in 2026, and potentially pushing battery cell packaging further in the name of light-weighting, along with a four-door coupe and a smaller SUV. The latter is expected to be unveiled later this year, with the four-door coupe debuting in 2025.

Source : greencarreports

The association between both the parties has been made across six strategic areas including product, charging ecosystem, sustainability targets and digital integrations. TVS’ battery-powered scooters will enable Zomato delivery partners to make green last-mile deliveries. The onboarded partners will also have access to charging stations within their radius and receive smooth digital integration.

The association is in line with both the companies’ commitment towards green and sustainable mobility solutions. While TVS aims to engage its electric scooters across diverse mobility segments, Zomato aims to accelerate EV adoption through its last-mile delivery partners. “With the success of TVS iQube, we are expanding our electric offerings across multiple segments and last-mile delivery services stands at the opportune inflection point
towards faster adoption of EVs,” said Manu Saxena, Senior Vice President, Electric Vehicles, TVS Motor Company.

The association aligns with Zomato’s commitment to The Climate Group’s ‘EV100’ initiative that implies 100% EV adoption by 2030. The Climate Group is an international non-profit organisation with the mission to drive accelerated climate action to achieve net-zero carbon emissions by 2050 by mobilizing and sensitizing corporations and governments.

TVS iQube is currently the only electric scooter offering from the brand. It comes in two variants – standard and S, while the range-topping ST variant is yet to go on sale in the country. The standard iQube and iQube S feature a 3.4 kWh battery pack, which offers a claimed range of 100 km per charge. The scooter gets a TFT screen with turn-by-turn navigation and controls for music, among other things.

Source : HT

The rise of electric vehicles in Delhi has seen a spike since 2020 when the Aam Aadmi Party government introduced the comprehensive Delhi Electric Vehicle Policy. It offered incentives to EV buyers in the national capital to boost the shift from conventional cars and two-wheelers. The government aimed to put as many EVs as possible on road in an attempt to curb vehicular pollution in Delhi.

According to the data shared by the government, Delhi saw around 1.28 lakh electric vehicles purchased since the government introduced its EV Policy in August, 2020. EVs currently have around 13% share among all vehicles plying on the streets of the national capital. “Our target was that by 2025, at least 25 per cent of all the new vehicles bought in Delhi should be EVs. As of now, 13 per cent of all the new vehicles that are bought in Delhi are EVs.
The national average at the moment is 6 per cent,” Kejriwal said.

On Tuesday, June 27, Kejriwal inaugurated 42 new ultra-low-cost electric vehicle charging stations at GTB Nagar in Delhi. The number of such EV charging stations in the city has now gone up to 53. According to the chief minister, the cost of using electric vehicles in Delhi is the minimum across India. He also said how increase in EV ownership has helped the city to reduce pollution in the last few years. He said, “Data shows that compared to
2014, the levels of PM2.5 and PM10 are lower by 30 per cent. Earlier in the year, we had several days where the AQI (Air Quality Index) was in the severe category. These were days with very high pollution levels. But now, there are hardly any such day.”

Kejriwal also said that one of the key reasons behind the rise of EVs in Delhi is the rate or cost per unit. According to him, running an electric scooter in the city costs seven paise per kilometre against ₹1.75 per kilometre for an ICE counterpart. For three-wheelers, an EV costs ₹0.09 per kilometre against ₹2.6 per kilometre if ran on fossil fuel. For those who own electric cars, the running cost is about ₹0.36 per kilometre against ₹7 per kilometre
for a petrol model.

Source : HT

TVS Motor, one of the leading two-wheeler manufacturers, believes that India will soon become a major hub for electric two-wheelers as well as for escooter and e-motorcycle exports. TVS Motor, which currently sells iQube electric scooter in India. The two-wheeler manufacturer plans to expand its electric two-wheeler portfolio in coming days

TVS Motor’s statement comes weeks after the Centre approved proposal by the Ministry of Heavy Industries to reduce subsidy on electric twowheelers bought on or after June 1. The notification issued by the ministry says a customer will only get 15 per cent of the overall cost of the electric two-wheeler back as subsidy. In its Annual Report for 2022-23, TVS Motor said,”The EV industry will continue to grow rapidly as the consumer
interest is buttressed with active policy support from the Central and State Governments through PLI, FAME II and State-specific support policies.”

Like in ICE (internal combustion engine) two-wheelers, India will emerge as a major hub for EV two-wheeler exports in addition to the large domestic market.”

Under the FAME-II scheme, the demand incentive on electric two-wheelers has been revised to ₹10,000 per kWh. Besides, the cap on incentives for electric two-wheelers is now capped at 15 per cent of the ex-factory price of vehicles from 40 per cent earlier.

TVS Motor is also focussing on expanding its EV footprint in India. The reports says that the manufacturer aims to ‘expand the portfolio to new variants within iQube and introduce new brands’. TVS Motor will also introduce new innovative features and technology in coming days. It will also expand its footprint beyond 130 cities in India currently, as well as outside India.”In addition, with the strategic association with BMW, the company is involved in joint design and development of urban EV options for the global markets,” TVS Motor said.

According to the two-wheeler manufacturer, EV two-wheeler penetration in the last financial year was at 4.7 per cent. TVS said it has been made possible due to the incentives offered under the FAME II and PLI schemes.

Source : HT

The transformation of Jaguar into an all-electric luxury brand is on track with first new vehicles to be launched in 2025, according to Jaguar Land Rover chairman N. Chandrasekaran.

Addressing shareholders in the company’s Annual Report for 2022-23, he noted that the British automaker is set to transform into a modern luxury-vehicle business.

Jaguar Land Rover (JLR) has been a wholly-owned subsidiary of Tata Motors since 2008.

Chandrasekharan noted that the brand had faced a difficult business environment last fiscal, having to weather several headwinds including shortage of electronic components. The British brand had to contend with the shortage of semiconductors and challenges in energy supplies in the aftermath of the war in Ukraine, leading to a battle against inflationary pressures, Chandrasekaran said.

“In this context, I am pleased that the company is progressing well in its transformation journey and is set to become a modern luxury vehicle business, with sustainability at its heart,” he informed the shareholders.

Chandrasekaran noted that the company’s efforts to address the supply-chain challenges have started to yield results, enabling it to increase production of the new Range Rover, Range Rover Sport, and Defender vehicles.

“I am also pleased to see Jaguar Land Rover’s collaboration and active partnerships enabling it to leverage synergies across the Tata Group of companies,” he noted.

JLR Interim CEO Adrian Mardell said that in the coming years, the brand would launch pure-electric versions of all Range Rover, Defender and Discovery collections.

“This starts with the pure-electric Range Rover, for which we will start taking pre-orders later this year,” he added.

Meanwhile, the first of the three new Jaguar designs will be a 4-door GT with a range of up to 700 km (430 miles), Mardell said.

More details of the new Jaguar designs will be released later this year, before going on sale in selected markets in 2024, for client deliveries in 2025, he added.

“As we prepare for our electric-first future, we are taking steps to ensure our people have the skills vital to electrification, digital and autonomous cars. To this end, we launched our future skills programme in September 2022, to train 29,000 of our workforce for our modern luxury, electric future,” Mardell said.

He noted that the company had maintained momentum under extraordinary global pressures including semiconductor constraints, inflation, and geopolitical instability, alongside the ongoing effects of Covid-19.

Source: PTI

JLR (formerly known as Jaguar Land Rover) will partner Indian company Agratas to source battery packs that will give its EVs a range of up to 720km, the company told investors on Monday. Agratas is owned by JLR’s parent company Tata, which is looking at building a cell manufacturing plant in either the UK or Spain.

The batteries are expected to be manufactured in a plant in Gujarat, initially, after Tata signed a deal with the state this month to build a cell plant there with an initial capacity of 20GWh.

Increased battery capacity in a smaller package

JLR said that batteries from Agratas would have a much higher energy density than those in the Jaguar I-Pace – currently the company’s only EV.

The new batteries would give 120kWh from 342 litres of cell capacity, compared to the 84kWh from the I-Pace’s 387 litres, said JLR’s head of product engineering, Thomas Muller. The pack size would give a range of up to 720km in the EMA Ultra Range pack, Muller said.

EMA is the new EV architecture that will underpin smaller Range Rover, Discovery and Defender models in the future. The new battery would also allow rapid charging that would add 320km range in 15 minutes, Muller said.

Electric Range Rover next year

Agratas will be responsible for the cell design and production, with JLR overseeing the design and production of the cell pack. Both companies will also work on a recycling solution, and Muller has promised “full transparency across the value chain” when it comes to sourcing and refining materials for the pack.

JLR will launch an electric Range Rover next year, followed by the first of three electric Jaguars – a four-door GT – in 2025. However, it’s not clear whether the Agratas batteries will be ready for the first electric Range Rover or the Jaguar.

Source: PTI

The company aims for a commercial solid-state battery as soon as 2027. It seeks to win over customers by offering vehicles with quicker charging times and longer driving range.

“With the evolution of the vehicle’s operating system, the next-generation battery EV will also enable customization of the driving feel,’ with a focus on acceleration, turning and stopping,” it said.

The announcement comes a day before Toyota’s annual shareholders meeting where strategy and governance will be discussed. Toyota President Koji Sato has said the company must play catchup after falling behind in the EV sector. The car maker’s stock was up 4.45% at 2,161 yen on Tuesday.

In an official statement, the automaker said it would produce an EV with a more efficient lithium-ion battery which would have a range of 1,000 km (621 miles). To compare, the long-range version of the Tesla Model Y which is also the world’s best-selling EV, can drive for about 530 km.

Toyota did not disclose expected costs or place of manufacture of its new long-range EV, nor did it state where it would make the next-generation solid-state batteries.

“What we want to achieve is to change the future with BEVs,” Takero Kato, president of new Toyota EV unit BEV Factory, said in a video posted on the automaker’s YouTube channel on Tuesday.

“We will launch the next-generation battery EVs globally and as a full lineup on the market from 2026,” Kato said.

Toyota also detailed other technologies that it plans to deploy to reduce costs for its EVs and batteries. The company said that it has pledged to use a “self-propelling” assembly line and Giga casting to cut production costs, adopting a production innovation pioneered by U.S. EV leader Tesla.

Toyota, which makes the Prius hybrid, Camry sedan and Lexus luxury models, is also working on second-generation biofuels. Biofuels, such as ethanol, are considered more renewable than fossil fuels though they have other drawbacks.

BEV Factory, established in May, aims to produce about 1.7 million vehicles by 2030, Kato said – about half of the 3.5 million EVs Toyota aims to sell annually by that year.

In April, the automaker sold 8,584 EVs worldwide, including under its Lexus brand, accounting for more than 1% of its global sales in a single month for the first time.

Source: PTI

Source: Reuters

The Japanese giant’s technology roadmap, covering aspects as varied as next-generation battery development and a radical redesign of factories, amounted to the automaker’s fullest disclosure of its plan to compete in the fast-growing market for EVs where it has lagged rivals led by Tesla (TSLA.O).

The plan comes a day before an annual shareholders meeting where governance and strategy – including a slow pivot to battery EVs under former CEO Akio Toyoda – will be scrutinised.

Shares of the world’s best-selling automaker jumped 5% on the day to 2,173 yen, the highest since August.

Toyota said it aims to launch next-generation lithium-ion batteries from 2026 offering longer ranges and quicker charging.

It also trumpeted a “technological breakthrough” that addresses durability problems in solid-state batteries and said it is developing means to mass produce those batteries, targeting commercialisation over 2027-2028.

Solid-state batteries can hold more energy than current liquid electrolyte batteries. Automakers and analysts expect them to speed transition to EVs by addressing a major consumer concern: range.

Still, such batteries are expensive and likely to remain so for years. Toyota will hedge with better-performing lithium iron phosphate batteries, a cheaper alternative to lithium-ion batteries that have spurred EV adoption in China, the world’s largest vehicle market.

At the high end of the market, Toyota said it would produce an EV with a more efficient lithium-ion battery offering a range of 1,000 km (621 miles). By comparison, the long-range version of the lithium-ion-powered Tesla Model Y, the world’s best-selling EV, can drive for about 530 km based on U.S. standards.

An EV powered by a solid-state battery would have a range of 1,200 km and charging time of just 10 minutes, Toyota said. By comparison, the Tesla Supercharger network – the largest of its kind – offers the equivalent of 321 km of charge in 15 minutes.

Toyota did not detail expected costs or required investment for the plans.

Engineers at the automaker have been considering a reboot of its EV strategy since last year to better compete.

The roadmap detailed on Tuesday showed that under new CEO Koji Sato, Toyota has adopted much of the revamp that engineers and planners have been developing as options for months.

That includes use of electric-axle and other technology from suppliers such as Aisin (7259.T) and Denso (6902.T).

“What we want to achieve is to change the future with BEVs,” Takero Kato, president of new Toyota EV unit BEV Factory, said in a video posted on the automaker’s YouTube channel on Tuesday.

NEW ASSEMBLY TECHNOLOGY

Toyota said it was developing a dedicated EV platform to reduce the cost of new models and a heavily automated assembly line that would do away with the conveyor belt system that has defined auto production since Henry Ford over 100 years ago.

In Toyota’s “self-propelling” assembly line, cars under production would drive themselves through the process.

It also said it would use Giga casting to cut production costs, adopting an innovation pioneered by Tesla using massive, aluminium casting machines to reduce vehicle complexity.

Koji Endo, senior analyst at SBI Securities, said he was surprised by Toyota’s move to counter Tesla’s lead in production efficiency. “I’m not sure yet Toyota can push back in a counter offensive, but it’s getting ready to try,” he said.

Toyota’s BEV Factory, established in May, aims to produce about 1.7 million vehicles by 2030, Kato said – about half of the 3.5 million EVs Toyota aims to sell annually by that year.

In April, the automaker sold 8,584 EVs worldwide, including under its Lexus brand, accounting for more than 1% of its global sales in a single month for the first time.

Toyota sold almost 10.5 million vehicles in 2022, and has a market value of about $254 billion. By contrast, Tesla sold one-eighth as many vehicles yet is valued at around $791 billion, a premium reflecting investor belief in Tesla’s growth potential.

Toyota has long said it wants to offer consumers a choice of new-energy vehicles, including petrol-electric hybrids and hydrogen fuel cells as well as battery EVs, as part of the industry’s transition from petrol-powered vehicles.

Source: Reuters

The sources said Ola, which makes electric scooters and is backed by investors such as SoftBank and Temasek, has plans to raise between $600 million and $1 billion in its initial public offering (IPO), which is planned for late 2023.

With the IPO still some way off, Ola is embarking on investor meetings earlier than usual to explain the business potential of India’s nascent EV market.

Ola’s founder and CEO Bhavish Aggarwal will travel to Singapore, United States and United Kingdom over the next two weeks, said the two sources, who declined to be named as the plans are confidential.

Aggarwal plans to meet investors, including BlackRock, Singapore’s sovereign wealth fund GIC, and mutual funds such as T Rowe Price, the first source said.

“EVs are still an emerging space and while there are some global parallels, it is an even newer story in India. So Bhavish wants to take the extra time to create comfort for investors,” said the first source.

Ola Electric declined to comment. BlackRock, GIC and T Rowe Price did not respond to Reuters’ requests for comment.

Reuters is the first to report details of Ola’s planned investor meetings.

India is one of the world’s biggest automotive markets with a small but fast-growing EV segment. Ola says it is the market leader in India in e-scooters, selling around 30,000 a month, priced around $1,600 each.

Ola Electric is likely to file regulatory papers on the IPO for approval by August, the two sources said.

The investor meetings will focus on Ola’s scooter business, its growth prospects and valuation, which is expected to be more than $5 billion, the sources said.

Ola competes with other startups and bigger companies like TVS Motors, Ather Energy and Hero Electric, which are ramping up their EV scooter plans.

It has also appointed Bank of America as one of its lead managers on the IPO, in addition to Goldman Sachs, Citi and local banks Kotak, Axis and ICICI Securities.

Bank of America, whose appointment has not been previously reported, did not respond to a query seeking comment.

Source: Reuters

London and New York : EV adoption is set to soar in the coming years, with over 100 million passenger EVs expected on the roads by 2026 and over 700 million by 2040, up from 27 million at the beginning of this year, according to research company BloombergNEF’s (BNEF) latest annual Long-Term Electric Vehicle Outlook (EVO). Electrification is now spreading quickly to all sectors of road transport from rickshaws to heavy trucks and is also picking up in emerging economies like India, Thailand and Indonesia.

As momentum grows, new economic opportunities are taking shape. The cumulative value of EV sales across all segments hits $8.8 trillion dollars by 2030 and $57 trillion by 2050 in BNEF’s base-case Economic Transition Scenario, which assumes no new policies are implemented. EVs and batteries are now a central part of many countries’ industrial policy and competition to attract investment will increase in the coming years.

Despite the rapid progress, urgent action is required from policymakers and industry participants to keep road transport on track for long-term emission targets countries have set. “Direct electrification via batteries is the most efficient, cost-effective and commercially available route to fully decarbonizing road transport. Still, a stronger push is needed on areas like heavy trucking, charging infrastructure and raw material supply” said Aleksandra O’Donovan, head of electric vehicles at BloombergNEF.

The report also includes a Net Zero Scenario consistent with a global zero-emissions-capable fleet by mid-century. Only one segment of road transport – three-wheeled vehicles – is fully on track for this more ambitious scenario, but buses and two-wheeled vehicles are also very close. Commercial vans and passenger cars are gaining momentum as well but will need additional policy support to stay on track. Heavy trucks are far behind the net-zero trajectory and should be a priority focus for policymakers. Grid investments, grid connections and permitting processes also need to be streamlined to support the large number of charging points needed for the trucking transition.

The report flags specific recommendations for governments and industry, including:

• Governments with mid-century net-zero goals should set a phase-out date for sales of new internal combustion vehicles no later than 2035, across all segments. These targets need to be backed by legislation and supported by concrete policy measures with interim targets.

• Fuel economy standards and/or tailpipe CO2 emissions standards need to be made stricter and stretch further in time than current rules. More stringent standards for vans, trucks and other commercial vehicles are needed urgently in all markets.

• Governments should set requirements and standards for the recycling of EV batteries and continue to support research into next-generation battery technologies. Funding and streamlined permitting process can help encourage new supply of raw materials.

• Advancements like sodium-ion batteries, solid-state batteries and next-generation anodes are now entering commercialization. Governments should look at ways to support domestic development of these areas, and continue to support R&D into emerging battery technologies that reduce dependence on critical raw materials.

• Dense public charging networks are required to help reduce the EV range consumers feel they need, which in turn reduces pressure on battery raw material supplies. EV ranges have increased by 10% annually since 2018. Even if this slows to 5% a year from 2023 to 2030 it adds nearly 50% more demand for lithium, nickel and cobalt compared to a base case where BEV ranges remain flat.

• Investment in clean power should go hand in hand with road transport electrification investment. As solar generation increases, more EV charging should be shifted to midday to maximize emissions benefits and lower costs.

Other findings include:

• EV sales rise sharply. In the Economic Transition Scenario, passenger EV sales rise from 10.5 million in 2022 to 22 million in 2025 (26% of sales), 42 million in 2030 (44% of sales) and 75 million in 2040 (75% of sales). Some countries go much faster, including the Nordics, China, Germany, South Korea, France and the UK. By 2030, there are 244 million EVs on the road, rising to 731 million by 2040 (46% of the fleet). The Net Zero Scenario requires a much faster transition, with 298 million EVs on the road by 2030 and 1.1 billion by 2040.

• Oil demand from road transport is very near its peak. The rise of EVs leads to a peak in overall road fuel demand in 2027. Demand in the US and Europe has already peaked, while demand in China is set to peak in 2024.

• Sales of internal combustion vehicles peaked in 2017 and are now in long-term decline. Overall vehicle sales continue to rebound after the pandemic and supply chain challenges, but by 2026 sales of combustion vehicles are 39% lower than their peak.

• Large investments are needed in all areas of the battery supply chain. At least $188 billion needs to be invested in battery cell and component plants by the end of the decade in the Economic Transition Scenario.

• Lithium supply is the most concerning of the battery metals in terms of supply sufficiency, with demand increasing by a factor of 22 times by 2050 in the Net Zero Scenario. However, aggressive uptake of sodium-ion batteries could reduce lithium demand by nearly 40% in 2035 compared to BNEF’s base case scenario.

• Small vehicles are still better than larger ones for climate targets. Consumer preferences for larger vehicles in the US means larger battery packs, which in turn means that upfront price parity in the country is one to three years later than for EVs in Europe.

• Autonomous vehicles are still a wildcard for the global vehicle market. Steady progress is being made on autonomous vehicle (AV) technology and the size of the global passenger vehicle fleet in 2050 varies significantly depending on AV uptake scenario. BNEF’s high adoption AV scenario reduces the global passenger vehicle fleet size to 1.1 billion in 2050, down 30% from the base case scenario of 1.5 billion.

• Additional electricity demand from EVs is part of a broader electrification push to reach net zero. EVs add about 14% to global electricity demand in 2050 in the Economic Transition Scenario, but only 12% in the Net Zero Scenario despite more vehicles on the road. This is because the Net Zero Scenario includes additional electricity demand from electrification of heating, industry and electrolyzer use for hydrogen production used in other sectors.

A comprehensive executive summary with key findings and more information on the Long-Term Electric Vehicle Outlook can be found at: https://about.bnef.com/electric-vehicle-outlook/.

About Bloomberg

Bloomberg, the global business and financial information and news leader, gives influential decision makers a critical edge by connecting them to a dynamic network of information, people and ideas. The company’s strength – delivering data, news and analytics through innovative technology, quickly and accurately – is at the core of the Bloomberg Terminal. Bloomberg’s enterprise solutions build on the company’s core strength: leveraging technology to allow customers to access, integrate, distribute and manage data and information across organizations more efficiently and effectively.

Source: Bloomberg

In a letter to the Finance Minister, the industy body has noted that the total amount of subsidies withheld and still due to various electric two-wheeler OEMs (Original Equipment Manufacturers) amounts to over Rs 1,200 crore and that the industry has been awaiting the funds for over 18 months exclusive of the interest.

“The cumulative effect of the subsidy blockade, the claim on older subsidies and the refusal to allow future sales has been devastating on startups and first movers in the electric two-wheeler segment,” SMEV Director General Sohinder Gill said.

Source: PTI

Several electric cars are set to launch in India in the coming months

The upcoming electric cars in India will play a very important role in the journey of making this great nation more sustainable and eco-friendly. Also, electric cars will contribute greatly to our march towards the net zero emission target. Today, on the occasion of World Environment Day, let’s take a look at the future of electric cars in India. Here we present a detailed list of the top 5 upcoming electric cars that are set to launch in the very near future and help propel India towards a green and pollution-free future.

Tata Punch EV

Recently spied for the first time, the Tata Punch EV is expected to be Tata’s next big EV offering. It is set to launch in the Indian market by the end of this year or early next year. Likely to be based on an improved, upgraded, and much more efficient Ziptron powertrain, the Punch EV will be placed between Tata Nexon EV and Tata Tigor EV in the brand’s EV lineup. According to recent spy images, the Punch EV is most likely to come with features like an electric parking brake with auto hold, rear disc brakes, and rotary type drive mode selector with a digital display just like the Nexon EV Max. We expect Punch EV to offer a better real-world range of around 350 to 450 km.

Tata Curvv EV

Tata showcased the near-production version of Curvv EV at the 2023 auto expo. Tata Curvv will be launched first with the electric powertrain sometime around mid-2024, and later with the petrol powertrain at the end of 2024 or early 2025. The coupe-style SUV is set to disrupt the mid-size SUV segment with its unique design and advanced technologies like next-gen advanced connected car tech, V2L & V2V charging (Vehicle to Load & Vehicle to Vehicle), level-2 ADAS, large & interactive infotainment screens, etc. It will rival the likes of the Hyundai Creta, Kia Seltos, MG Astor, Maruti Grand Vitara, Toyota Hyryder, etc. Tata is likely to offer Curvv EV will its next-gen Ziptron powertrain which is expected to be more efficient and robust compared to the Ziptron tech being used in current Tata EVs.

Tata Harrier EV

Tata Motors showcased the near-production version of the Harrier EV at the 2023 auto expo. Tata Motors has specified that the Harrier EV will be a long-range EV, with a dual-motor setup and all-wheel drive capability. With Harrier EV, Tata wants to cater to buyers who want a long-range, capable and go-anywhere electric SUV. Moreover, the Harrier EV will be embedded with Tata’s next-generation advanced connected car tech with cloud-connected telematics and auto OTA update capability. As Harrier EV is based on Tata Motors second-gen EV architecture, it would also be equipped with technologies like V2L (Vehicle To Load) and V2V (Vehicle To Vehicle) charging. Moreover, the Harrier EV is also likely to come with level-2 autonomous driving capabilities.

BYD Seal

BYD has already established itself with the Atto 3 and E6 MPV in the Indian market. Now, the world’s biggest EV maker is all set to launch its third product in India in the form of the Seal electric sedan. The BYD Seal sedan will boast of BYD’s born EV platform (e-Platform 3.0) and revolutionary & ultra-safe Blade Battery tech. It is expected to come with two battery pack options: a 61.4 kWh and an 82.5 kWh. According to the CLTC (China Light Duty Vehicle Testing Cycle), the smaller battery pack has a claimed range of 550 kilometers, while the larger one has a range of up to 700 kilometers. The smaller battery pack has a charging capability of up to 110 kW, while the larger one has a charging capability of 150 kW. Also, the bigger battery pack gets an All Wheel Drive drivetrain setup. Moreover, BYD has confirmed the launch of the Seal electric sedan in India in Q4 2023.

Mahindra XUV e8

The upcoming Mahindra XUV e8 is the electrified version of the already-on-sale XUV700. It will be the first Mahindra EV to come with Mahindras’s newly developed INGLO EV platform. Expected to be launched sometime around December 2024, the Mahindra XUV e8 is likely to carry forward the design of the XUV700 with some minor updates and changes. It will also be equipped with advanced features like triple 10.25-inch screens in the front dashboard, level-2 ADAS, next-gen AdrenoX connected car tech, and an all-wheel drive system.

Verdict: All these 5 electric cars are set to launch in India in the next one to one and a half years. Also, these electric cars will truly set the pace for faster EV adoption in India and thus will contribute greatly towards a clean & green environment. Today on the occasion of World Environment Day, let’s hope that the faster adoption of EVs will help India achieve the net zero emission targets before the year 2070.

Source: PTI

Electric vehicle (EV) registrations increased by 168% in 2021 compared to 2020. The Indian government has launched several measures to encourage the country’s use of electric cars (EVs). This government backing has produced a favourable climate for expanding India’s electric transportation ecosystem.

This is not it. Companies are developing business models such as battery swapping, leasing, and rental services to make EVs more accessible and inexpensive to customers. This is assisting in the expansion of India’s electric transportation ecosystem.

What is the EV scenario in India like?

India has not yet pledged to completely phase out conventionally fuelled automobiles by a particular year. However, the country has set an ambitious target of having electric vehicles account for 30% of all new vehicle sales by 2030. This might help India save more than $14 billion in crude oil imports yearly. This shift is projected to be aided by the rapid adoption of two- and three-wheelers (LEVs- Light Electric Vehicles).

To stimulate the usage of EVs, it has created programmes such as Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME). Its primary focus is on technological research, demand generation, charging infrastructure, and scaling up EV production. The quality and accessibility of charging infrastructure would have a big impact on EV production in India. This can be aided further by establishing an enabling framework with appropriate policies and regulations.

The Indian government has allocated a sum of $96.8 million towards the FAME plan, which involves implementing both supply and demand-side incentives to promote the adoption of electric vehicles. Some states have also set aggressive EV objectives; 18 of the 28 states have either a draught policy in place or have reported one.

Balancing local EV production with imports

The Indian government has prioritised the development of the domestic capacity to manufacture electric battery components and has strongly promoted the expansion of domestic manufacturing. (through interventions such as production-linked incentives). It is beginning to bear fruit, with several global corporations considering setting up Lithium-ion battery plants and other EV component manufacturing in India. Local businesses have also entered the EV market.

More initiatives to increase domestic car manufacturers are also expected to be unveiled by the administration. However, disincentivising imports through high import taxes may not be the best long-term strategy. The government has established an import charge of 60% on automobiles under $40,000 and 100% on cars exceeding $40,000. In 2021, import tariffs on EV components such as Lithium-ion cells and battery packs were also raised. This makes vehicle costs higher than traditional cars, particularly in the four-wheeler market. A temporary decrease in import levies may enable automobile manufacturers such as Audi and Tesla to achieve sufficient volumes to commit to producing them domestically.

The investment boom is projected to continue

Overall, EV sales are increasing, as are investments.

The sector received significant investments (US$6 billion) in 2021 and is expected to get US$20 billion by 2030. In 2021, PE/VC investors invested around $1.7 billion; by 2022, this figure had already surpassed $666 million.

The investment momentum is also projected to continue, with the number and size of climate-specific funds and environment, social, and governance (ESG) funds increasing. As the EV ecosystem grows, many new investors are jumping on board.

Now the question is, what motivates these investments?

The global shift to electric cars (EVs) has resulted in a considerable surge in investment in the Indian EV industry. The Indian government has set an ambitious goal of reaching 100% EV sales by 2030. Because of its enormous population and increasing middle class, India has drawn both domestic and foreign investment.

Here are some factors that are driving investments in the Indian EV space:

Government incentives: The Indian government has launched various initiatives to promote EV adoption. These include tax incentives, subsidies, exemptions from registration fees, road tax, and toll charges. Such incentives encourage more people to invest in EVs, driving the demand for EVs in India.
Growing market demand: With the increasing awareness of the harmful effects of air pollution, there is a growing demand for cleaner and more sustainable modes of transportation in India. EVs offer a solution to this problem, which has led to a surge in demand for EVs in the country. This growing market demand is attracting investments from both domestic and foreign investors.
Technological advancements: Advances in battery technology and charging infrastructure make EVs more practical and convenient for daily use. This has helped increase consumer confidence in EVs, driving the demand for EVs in India.
Collaborations and partnerships: Many domestic and foreign companies collaborate to develop EV technologies and infrastructure in India. For example, Ola has partnered with Siemens to build an EV manufacturing plant in the country. Such collaborations are attracting more investments in the Indian EV space.

Overall, as investors recognise this sector’s potential for development and profitability, the quick shift to electric cars encourages investments in the Indian EV field. Some drivers driving investments in the Indian EV field include the Indian government’s support for EVs, rising market demand, technical breakthroughs, and collaborations and partnerships.

The bottom line

Due to government participation at several levels, ownership of EV infrastructure, quick decision-making, collaboration and coordination with stakeholders, and dedication to short and long-term goals is essential to adopt EVs in India rapidly. There are a few challenges regarding R&D capability, charging infrastructure and EV batteries.

Despite the obstacles, worldwide EV industry trends continue to impact Indian customers, increasing EV choice. The advent of e-rickshaws, which have replaced traditional rickshaws in the public transportation sector due to their low cost, energy efficiency, and lower maintenance, has boosted familiarity with EVs. Aside from growing customer desire to adopt EVs, government incentives and subsidies will sweeten the deal and drive EV industry growth in India.

Source: PTI

The Indian government’s focus on reducing carbon emissions and increasing the use of EVs has led to the implementation of various schemes and tax incentives, encouraging manufacturers and consumers to shift towards EVs. Furthermore, the need for sustainable transportation and the decreasing cost of batteries has made EVs more accessible to consumers. In this context, let’s take a closer look at the key factors driving the growth of the Indian EV market.

Government initiatives:

Government initiatives have played a crucial role in driving the growth of the electric vehicle market in India. The Indian government has implemented various policies and schemes to promote the adoption of EVs, such as the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME) scheme. This scheme provides financial incentives to manufacturers, buyers, and suppliers of EVs, making them more affordable and accessible to consumers.

The Indian government has set an ambitious target of achieving 30% EV penetration by 2030 and has implemented various policies and incentives to promote the adoption of EVs in the country. These include tax exemptions, subsidies for EV buyers, and support for charging infrastructure development.

Increased demand for sustainable transportation:

The increased demand for sustainable transportation is another crucial factor driving the growth of the electric vehicle market in India. As more people become aware of the environmental impact of traditional vehicles, they are increasingly seeking cleaner and greener alternatives. Electric vehicles offer a sustainable transportation option that produces zero emissions and reduces the carbon footprint of the transportation sector. As a result, there has been a surge in demand for EVs in India.

India has been facing severe air pollution issues in its cities, which has led to a growing awareness and concern for the environment. This could drive up demand for cleaner and more sustainable transportation options like EVs.

Decreasing battery costs:

The decreasing cost of batteries is another important factor driving the growth of the electric vehicle market in India. The cost of batteries is a significant barrier to the adoption of EVs, as it accounts for a significant portion of the vehicle’s total cost. However, the cost of batteries has been decreasing rapidly in recent years due to advancements in technology and increased production. With advancements in battery technology and economies of scale in EV production, the cost of EVs is expected to decrease significantly in the coming years. This could make EVs more affordable and accessible to a wider range of consumers in India.

Infrastructure development:

Infrastructure development is another key factor driving the growth of the electric vehicle market in India. One of the biggest barriers to the adoption of EVs is the lack of charging infrastructure. EV owners need access to charging stations to charge their vehicles, and a lack of infrastructure can limit the range and convenience of EVs. To address this issue, the Indian government has been actively working to develop the necessary infrastructure for EVs. The National Electric Mobility Mission Plan (NEMMP) aims to set up charging stations across the country, with a goal of establishing one charging station every three kilometers in cities and every 25 kilometers on highways.

With the government’s push for local manufacturing under the Make in India initiative, several global automakers have announced plans to set up EV production facilities in India. This could lead to increased domestic production and supply of EVs, further boosting the market

Innovation and collaborations

Innovation and collaborations are also important factors driving the growth of the electric vehicle market in India. The Indian EV industry is witnessing a significant increase in innovation, with companies developing new and advanced technologies to improve the performance and efficiency of EVs.

Overall, the Indian EV market has witnessed significant growth in recent years, and these factors are likely to continue to drive the growth of the market in the coming years.

Source: PTI

The Society of Manufacturers of Electric Vehicles (SMEV) has called upon the government to levy an additional green tax on two-wheelers with internal combustion engine to incentivise EV adoption and help in the reduction of pollution creating crude oil imports.

The Green tax would also rationalise the expected drop in sales of EV on account of reduction in subsidies starting this month, the industry body representing electric vehicles said in a statement.

SMEV believes that an increase in taxes to the tune of 100 basis points on traditional polluting ICE 2-wheelers will be required to fund subsidies for electric two-wheeler vehicles and put the FAME scheme back on track, it added.

SMEV Director General Sohinder Gill said it is time that the EV sector is allowed to compete at par with ICE vehicles.

“While we are tackling awareness and adoption issues as an industry, the biggest hurdle is the cost of ownership as India is a price sensitive market.

“Additional Green Taxing of ICE vehicles will not only bring EV and ICE at the same level but also encourage bigger OEMs to enter the EV market with confidence and a long-term outlook, which will benefit the country,” he noted.

The Heavy Industries Ministry has reduced subsidies on the electric two-wheelers from June 1, forcing companies to hike prices.

From this month, the cap on incentives for electric two-wheelers has come down to 15 per cent of the ex-factory price of vehicles from 40 per cent earlier.

The Faster Adoption and Manufacturing of Electric and Hybrid Vehicles (FAME) India scheme commenced on April 1, 2019, for a period of three years, which was further extended for two years till March 31, 2024.

Source: PTI

The Indian Electric Vehicle (EV) industry is the newest sunrise sector in the country due to its rising appeal as an alternative to internal combustion vehicles. This rise in popularity is helping as government regulations are encouraging wider EV adoption to help meet emission targets by 2030.

Today, India is the fifth-largest global automotive market, which includes both ICE (Internal Combustion Engines) and electric vehicles, and is predicted to grow to be the third-largest market by 2030. The sector has already attracted equity inflows from Foreign Direct Investment (FDI) of $ 32.84 Bn between April 2000 and March 2022 and the Indian EV market isexpected to grow at a whopping CAGR of 90 per cent in this decade to touch $150 billion by 2030.

The government’s push for clean energy has prompted the growth in the adoption of EVs resulting in the beginning of a change in consumer preferences. According to data on the government’s Vahan website, approximately 9,89,000 EVs were registered with regional transport offices in 2022 alone, indicating a more than threefold growth from 2021 already. These figures make it clear that EVs may likely to become the norm for automobiles in the future.

Electric cars are feature-packed, battery-powered vehicles with innovations that have made them appealing. The EVs of today come packed with technologies and software capabilities like navigation, infotainment, and other safety and sensory diagnostics. In simple terms, EVs are particularly well-suited for incorporating capabilities similar to that of autonomous vehicles (AV). Hence, as the EV industry booms, data storage innovation will also have to keep pace with the sector’s increasing data needs.

Why is data crucial to EV machinery?

One must understand that the E-mobility space as an ecosystem is completely different to the current automobile setup.

Electric vehicles provide a boost to IoT, as they form a large, connected network of things, including automobiles, charging stations, smart meters, intelligent electronic devices (IEDs), and phasor measurement units (PMUs). Numerous sensors found in EVs collect data on user driving habits, battery security through a battery management system (BMS), and grid charge management through charging stations. The charging and discharging patterns are closely correlated with the functionality, security, and effectiveness of the smart grid in the case of EV grid integration (EVGI). Data analytics are therefore essential to EVGI, green smart cities, and other green infrastructure. Particularly, efficient and dependable data analytics methods are needed for EV synchronization and charging planning to sell power back to the grid.

In addition, connected and semi-autonomous EVs need data to operate safely and effectively. And with millions of EVs predicted to be on the road over the next ten years, “highways of data” are being built.

Data is also crucial to improve the user experience and that is why original equipment manufacturers (OEMs) collect data generated by the vehicle. This is comparable to how apps and search engines get better over time as they collect more user data. The majority of the data consists of driving-related sensory and diagnostic data, but the integration of more mobility and digital services has led to an increase in the amount of extra data that the automobile is gathering. As the auto industry grows, automakers are using and analyzing that data to design and integrate advanced technology to ensure a seamless and next-generation driving experience.

Capturing, evaluating, and storing data will be key

Counterpoint Research projects that a minimum of 2TB to up to 11TB storage over the next decade will be needed to support in-vehicle storage at different autonomy levels. It’s crucial for OEMs to carefully assess their data strategy in advance in light of the EV revolution and avoid treating storage as an afterthought.

For various use cases, there are a range of demands and difficulties related to car storage. Data storage, for instance, must be able to function irrespective of the weather or temperature, be it freezing winters or broiling summers. An automobile’s dashboard and safety systems must work properly no matter the conditions, including weather, climate, or road surface. Additionally, certain data in the connected automobile is only maintained for a brief period, whilst other data must be kept for days, months, or even years. As a result, there is a need for various storage interfaces, performance, and endurance levels, including removable SDTM cards, BGA packed e.MMC, UFS, and NVMeTM SSDs, and so on.

Applications, sensors, and cameras will continue to expand in quantity and variety, requiring routine upkeep and updating throughout the course of a car’s existence. It is typical for connected vehicles to be built with the ability to send operating data from onboard systems to the cloud as well as receive updates, such as feature upgrades and security patches, over the air (OTA). This indicates that with connected and now electric cars, the significance of data and data storage will only increase. To provide solutions that meet the evolving needs of the automotive industry, the storage sector must keep innovating.

Source: PTI

Mercedes has hit the ground running as it embraces the electrification wave with gusto. Fresh off the launch of the EQE electric sedan earlier this year, the automaker shows no signs of slowing down, confidently expanding its electric portfolio with two additional SUVs.

Diverging from the EQA and EQB models currently gracing Taiwan’s roads, the EQE SUV and EQS SUV are conceived from a state-of-the-art all-electric module. This innovative approach offers an efficient allocation of interior space and promises to outstrip hybrid models with superior battery performance.

The EQE SUV will be available in two dynamic variants—the EQE 350 SUV and the performance-driven AMG EQE 43 SUV. Both variants come equipped with all-wheel drive. The 350 SUV flaunts an OFFROAD mode, supplemented by ground monitoring features, ensuring it’s equipped to tackle a diverse range of terrains. Its AMG Line exterior package comes standard, seamlessly merging form and function by reducing air resistance and providing an impressive range of up to 549 km under the Worldwide Light Vehicles Test Procedure (WLTP) cycle.

The Mercedes-AMG EQE 43 SUV is a testament to AMG’s performance tuning. It boasts a whopping 476 horsepower, offering a thrilling 0–100 acceleration in just 4.3 seconds. Adorned with hallmark AMG design elements, this model promises an exhilarating drive.

However, it’s the EQS 450 SUV that has likely sparked the most anticipation among Mercedes-Benz enthusiasts. This seven-seater SUV offers the ultimate in luxury with air suspension as standard, while the groundbreaking inclusion of the gigantic Hyperscreen display adds an element of futurism that could render its pricing fiercely competitive.

Under the hood, Mercedes’ commitment to the EV revolution runs deep, with considerable investments in the unseen yet vital areas of battery technology, information systems, electronic control systems, and advanced connectivity features. As revealed in our previous tests, Mercedes’ MBUX voice recognition capability, although not flawless, outshines most competitors and even outperforms home-based systems like Siri.

However, these enhancements do come with additional costs. Consequently, Mercedes-Benz is channelling efforts into crafting an even more luxurious and comfortable interior, seeking to elevate the passenger experience and create distinct customer value. Whether these bold strides will resonate with Taiwan’s discerning luxury car owners will be revealed in this year’s sales figure.

Source: energytrend

The report also claims that among the consumers who have placed a pre-order for the ES6, 70 per cent are male buyers between the ages of 30 and 40, with the target group of the car being families with young children.

Nio claims the second-generation ES6 SUV can sprint from 0-100 kmph in just 4.5 seconds, while riding on standard 20-inch alloy wheels. There are 21-inch alloy wheels on offer as an option. The SUV draws energy from a dual-motor setup that channels power to all four wheels. Each axle of the car comes fitted with an electric motor. The dual-motor powertrain includes a 150 kW front motor and a 210 kW rear unit, churning out a total of 482 hp of peak power.

The SUV is being offered at a starting price of $52,000 for the entry-level variant with a 75 kWh battery pack, while the long-range version of the electric SUV comes with a 100 kWh battery pack, and its price starts from $60,400. There is an ultra-long-range version of the car with a 150 kWh semi-solid battery pack, which will debut in July 2023. This ultra-long-range variant of the ES6 is claimed to offer a 930 km range on a single charge. Interestingly, the Nio ES6 can be purchased without a battery as well, which drastically drops the price to $42,300. However, in this case, the buyer will have to pay a monthly subscription fee for the battery pack.

Source: PTI

Electric vehicle manufacturers will need around 13 million square feet of real estate space by 2030 to make targeted 23 million units of two-wheelers and 4 million units of four-wheelers, according to CBRE.

Real estate consultant CBRE South Asia released a report, ‘Electric Vehicles in India – New Wheels on the Roads’, on Thursday that focuses on the trends, growth, and influence of electric vehicles (EVs) on the real estate sector in India.

“Real estate requirements of manufacturing facilities of 4-wheeler and 2-wheeler (4W and 2W) electric vehicles is estimated to be around 13 million square feet by 2030 as a result of the government’s EV adoption targets,” it said.

Moreover, EV battery manufacturing facilities would require 2,400 acre of land to accommodate the production of 200 GWh of batteries by 2030.

By 2030, this real estate requirement will allow a production capacity of about 4 million units of 4Ws and 23 million units of 2Ws.

The Indian EV market is expected to grow at a Compound Annual Growth Rate (CAGR) of 49 per cent between 2021-2030 and cross annual sales of 17 million units by 2030.

The consultant noted Built-to-Suit (BTS) and leased facilities are largely preferred by EV manufacturers at present due to ease of capital deployment, flexibility in lease terms, speed to market and location advantages.

However, an owned facility provides more scope for customisation, save monthly rental outgoings and has better prospects for land price appreciation, it added.

Anshuman Magazine, Chairman & CEO – India, South-East Asia, Middle East & Africa at CBRE, said, “As we look ahead, the intersection of real estate and the EV sector presents exciting opportunities and challenges. The rapid growth in EV manufacturing is set to revolutionise the automotive industry, and it will undoubtedly have a profound impact on the real estate market.” The cumulative investment value in EVs over the last three years demonstrates the immense financial commitment and confidence placed in this sector, he said.

“This investment not only signifies the financial potential of EVs but also underscores the transformative power they hold in shaping the future of mobility,” Magazine said.

The report mentioned that policy initiatives by the union and state governments have enabled the creation of an indigenous EV manufacturing ecosystem by incentivising fresh investments from global/domestic players.

For the current year, the EV sector has recorded investment announcements of about USD 6.2 billion to date. The year 2022 witnessed a strong traction, with global and domestic players announcing investments of over USD 17.1 billion in the EV industry, compared to USD 4.4 billion in 2021.

During the 2020-2023 period (year to date), Maharashtra and Tamil Nadu led EV investments with a 15 per share each of the cumulative USD 28.8 billion investment.

Karnataka accounted for 11 per cent share, Gujarat 8 per cent, and Uttar Pradesh and Telangana recorded 7 per cent share each.

Source: PTI

TVS Motor Company, a reputed manufacturer of two-wheelers and three-wheelers globally, continues to demonstrate its commitment towards sustainable future mobility solutions. This is in line with the Government of India’s vision to promote electric mobility, and TVS Motor’s endeavour to support their initiative to enable faster adoption of electric mobility and development of the overall electric vehicle ecosystem in the country.

KN Radhakrishnan, Director and CEO, TVS Motor Company, said, “TVS Motor is spearheading the EV transformation narrative in the country. Backed by this electrification journey, TVS iQube recorded a sales milestone of 1,00,000 units for its range of scooters in the last financial year, which is a testament of its strong community of happy customers. In May 2023, TVS iQube crossed 20,000 units of retails and continues to have a healthy booking pipeline of over 30,000 units.”

He further added, “FAME II will gradually reduce over the next few quarters. TVS Motor will continue to deliver delightful product options and great value proposition to propel the electrification and green energy penetration in two-wheelers in the country. In line with TVS Motor’s commitment of being customer centric, the company will offer a loyalty benefit programme for the customers of TVS iQube who have made bookings till May 20, 2023, for a limited period to ease the cost burden post the revision in FAME II subsidy. Additionally, new customers can also avail new prices without having to bear the full burden of FAME II revision on booking the vehicle starting June 1, 2023.”

“Towards propelling the electrification journey further in a sustainable manner and keeping our customer at the forefront, after FAME II revision TVS iQube‘s price increase from June 1, 2023 will be in the range of Rs. 17,000 – Rs. 22,000 depending on the variant. TVS Motor is also extending an additional loyalty benefit to its customers who have pre-booked before May 20, 2023. Specifics and further details on this will be available on our website soon,” said Manu Saxena, Senior Vice President – Electric Vehicles, TVS Motor Company.

Towards this exciting EV journey, TVS iQube is inspired by three fundamental principles: Giving customers the POWER OF CHOICE for range, connected capabilities, chargers and colours; Complete PEACE OF MIND around vehicle safety by adhering to latest norms and overall purchase experience leading to promise of delivery and the SIMPLICITY OF OPERATING the TVS iQube which is impactful yet hassle free. Currently, the scooter is available in 140 cities across India.

About TVS Motor Company

TVS Motor Company is a reputed two and three-wheeler manufacturer globally, championing progress through Sustainable Mobility with four state-of-the-art manufacturing facilities in Hosur, Mysuru and Nalagarh in India and Karawang in Indonesia. Rooted in our 100-year legacy of Trust, Value, and Passion for Customers and Exactness, we take pride in making internationally aspirational products of the highest quality through innovative and sustainable processes. We are the only two-wheeler company to have received the prestigious Deming Prize. Our products lead in their respective categories in the J.D. Power IQS and APEAL surveys. We have been ranked No. 1 Company in the J.D. Power Customer Service Satisfaction Survey for consecutive four years. Our group company Norton Motorcycles, based in the United Kingdom, is one of the most emotive motorcycle brands in the world. Our subsidiaries in the personal e-mobility space, Swiss E-Mobility Group (SEMG) and EGO Movement have a leading position in the e-bike market in Switzerland. TVS Motor Company endeavours to deliver the most superior customer experience across 80 countries in which we operate.

Ather 450S electric scooter will be available for booking for customers from July 2023 onwards at Ather Experience Centres across India, said the company. It also said that the pricing of this scooter complies with the revised FAME 2 scheme. The consumers can avail more benefits from their respective state EV policies. Powering the Ather 450S is a 3 kWh battery pack that claims to offer a 115 km range on a single charge and enables the scooter to run at a top speed of 90 kmph, which is sufficient for commuting in and around the city.

Speaking about the launch of the new electric scooter, Tarun Mehta, Co-Founder & CEO of Ather Energy, said that the 450 platform has been immensely successful for the company and it wanted to make the EV available to a wider range of buyers. “The 450 platform has been immensely successful for us, and we wanted to make it available to a wider set of buyers. The 450S will be our new entry-level variant for those looking to enter the electric segment but are seeking the quality and assurance that Ather scooters provide. Within the category, the 450S will break new grounds and will offer first-of-its-kind tech features in the performance scooter segment, raising the bar in terms of riding pleasure and safety while still delivering on performance,” he added.

Source: PTI

On May 19, the Ministry of Heavy Industries restructured the Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme. The new structure, which comes into effect on June 1, brings down the subsidy per electric two-wheeler from 40 percent to 15 percent of the ex-factory price or from Rs 15,000/kWh to Rs 10,000/kWh. Under the earlier structure, some electric two-wheelers were getting a subsidy of up to Rs 60,000 and now companies would have to absorb or pass on the subsidy loss.

Bajaj Auto, the maker of the Chetak electric scooter, said the company has raised prices by Rs 22,000, which is equivalent to the subsidy loss. Ather Energy, which has seen a subsidy loss of roughly Rs 33,000, has increased prices by Rs 10,000. The revised prices for the Ather 450X are Rs 1.45 lakhs for the base variant and Rs 1.65 lakhs for the pro variant. Ola Electric had last week increased prices by Rs 10,000-Rs 12,000.

“Towards propelling the electrification journey further in a sustainable manner and keeping our customer at the forefront, after FAME II revision, TVS iQube‘s price increase from June 1, 2023, will be in the range of Rs 17,000 – Rs 22,000. TVS Motor is also extending an additional loyalty benefit to its customers who have pre-booked before May 20, 2023,” said TVS Motor Company in a statement.

Among other electric vehicle makers, Greaves Cotton, which owns Ampere Electric’s two-wheeler company, has also increased prices between Rs 21,000 – Rs 39,000.

Hero MotoCorp has not announced a price increase as yet.

Reacting to the new structure of the FAME scheme, Manish Saigal, Managing Director at Alvarez & Marsal said, “While the short-term effect of the subsidy cut may lead to higher prices for EV two-wheelers, the eventual outcome will be a considerable reduction in cost for consumers. A recent study by A&M showed that in a survey conducted on over 2,500 end-consumers, 70 percent said they would consider buying an electric two-wheeler over an ICE vehicle.”

Source: PTI

Starting from 1 June, electric scooters are set to become more expensive as the government subsidy provided to electric two-wheeler manufacturers will be reduced. The subsidy reduction is part of the government’s second phase of the Faster Adoption of Manufacturing of Electric Vehicles in India (FAME) scheme.

The Ministry of Heavy Industries issued a notification stating that the subsidy under FAME II will be decreased from Rs 15,000 per kWh to Rs 10,000 per kWh. Additionally, the maximum subsidy offered under the scheme will be capped at 15 per cent of the ex-factory pricing, a significant reduction from the previous 40 per cent subsidy.

The decision to reduce the subsidy was made following a meeting between government representatives and 24 electric two-wheeler manufacturers earlier this month, reported PTI.

The FAME II scheme, according to the government, aims to incentivize the purchase of electric vehicles and promote their wider adoption, particularly in public and commercial transport sectors such as electric three-wheelers (e-3W), electric four-wheelers (e-4W), and electric buses.

The Society of Manufacturers of Electric Vehicles (SMEV) strongly criticised the government’s decision, stating that the sudden reduction in subsidies could lead to a significant decline in electric vehicle adoption, negatively impacting the entire industry for a substantial period of time, reported NDTV.

Media reports suggest that start-up players in the electric mobility sector welcomed the government’s decision, seeing it as an opportunity for the electric vehicle industry to become self-reliant.

The FAME II scheme was initially implemented on 1 April, 2019, and was extended for an additional two years in June 2021, extending the subsidy scheme until 31 March, 2024. However, a PTI report suggests that the government does not intend to further extend the subsidy beyond March 2024 or introduce a third phase of the FAME scheme.

Source: PTI