MG unveils ZS EV- pure electric Internet SUV with Autonomous level-2
The ZS EV, produced by MG Motor India, a company with British roots, has undergone an update, making it the country's first pure-electric internet SUV with Autonomous Level-2 (ADAS) capabilities. The ZS EV, which is available for a limited time at a price of Rs. 27.89 Lakh, combines electric power, internet connectivity, and autonomous functions to provide a remarkable driving experience.With 17 characteristics divided into three degrees of sensitivity and warning, the ZS EV's ADAS technology offers support and safety in a variety of driving circumstances. While the Forward Collision Warning (FCW) warns the driver of potential crashes and applies autonomous brakes if necessary, the Traffic Jam Assist (TJA) guarantees a smooth driving experience in heavy traffic.Overspeeding is avoided thanks to the Speed Assist System (SAS), and inadvertent lane departure is avoided according to the Lane Functions. By keeping an appropriate distance from the car in front of you, the Adaptive Cruise Control (ACC) improves convenience and safety. The ZS EV with ADAS, in the opinion of Mr Gaurav Gupta, Deputy Managing Director of MG Motor India, highlights the firm's dedication to electric mobility and a sustainable future. MG Motor India wants to hasten the switch to zero-emission cars and promote the EV ecosystem in India by providing a stylish and affordable electric SUV.The battery in the ZS EV has evolved to fulfil strict safety and performance standards. It confirms with IP69K for improved dust and water resistance, and it is rated with an ASIL-D Enhanced Safety Integrity Level and a UL2580 Safety Management System. The SUV also provides a variety of charging alternatives, including charge-on-the-go with RSA (Roadside Assistance), AC Fast Chargers for installation in homes and offices, and DC Super-Fast Chargers at dealerships.The ZS EV has a 461 km driving range on a single charge thanks to its cutting-edge prismatic battery, providing an enhanced driving range and confidence for longer trips. In comparison to SUVs with internal combustion engines, the SUV's total cost of ownership is competitive, with operating expenses as low as 60 pence/km, resulting in significant savings over three years. With R17 Tomahawk alloy wheels, full LED Hawkeye headlights, and a variety of paint colours, the ZS EV has a futuristic appearance. The SUV's inside is cosy and appealing, with amenities including a completely digital instrument panel, a market-first HD touchscreen infotainment system, and a rear AC vent.The ZS EV has six airbags, Hill Descent Control (HDC), rear parking sensors, electronic stability control, a tyre pressure monitoring system, and hill-start assist as part of its safety features. The ZS EV has three driving modes: Eco, Normal, and Sport, and is propelled by an 8-layer hairpin motor with 176PS of power. MG Motor India provides the MG e-SHIELD programme, which comprises maintenance plans, RSA extensions, and warranty extensions at affordable pricing, to improve the ownership experience. MG Motor India hopes to offer a compelling electric vehicle choice in India with the introduction of the improved ZS EV, encouraging eco-friendly transportation and catering to the changing demands of Indian consumers.
Altigreen join hands with Lohum for recycling EV batteries
To solve the crucial issue of sustainable battery disposal in the electric vehicle sector, Altigreen, a producer of electric three-wheelers, has signed a strategic agreement with Lohum, a top provider of sustainable energy transition materials.The partnership intends to minimise the carbon footprint of Altigreen's electric vehicles while promoting ethical and sustainable practices within the electric mobility industry.The collaborators will create a cutting-edge framework for fulfilling Alitgreen's goals for ethical battery recycling and disposal. Alitgreen will be able to easily accomplish these objectives thanks to Lohum, an Extended Producer Responsibility (EPR) partner recognised under India's Battery Waste Management Rules (BWMR 2022).In accordance with this cooperation, Lohum will recycle Altigreen electric vehicle end-of-life batteries using its 'NEETM' technology, recovering 95% of high-purity battery raw materials that may be utilised to create new batteries. Over the next three years, the cooperation will allow it to recycle 1 GWh of Altigreen EV freight vehicle batteries, significantly reducing battery waste and maximising resource use.Founder and CEO of Altigreen, Dr. Amitabh Saran, stated, "At Altigreen, we believe that sustainability is at the heart of our purpose. Through this agreement, we will be able to manage our electric car batteries properly, limiting waste and the environmental effect of our operations."We are thrilled to work with Altigreen Propulsion Labs, a company that shares our vision for a greener and more sustainable future," stated Rajat Verma, the founder and CEO of Lohum. We want to assist Altigreen in its dedication to circular economy principles and boost the general expansion of the EV sector with our experience in battery recycling.
Now enjoy low-interest funds: Okaya EV join hands with 12 finance companies
To provide its clients with appealing financing options for electric vehicles, Okaya EV, a manufacturer of electric vehicles, has worked with 12 financial solution providers, including HDFC, Axis, IDFC, Loan Tap, Bike Bazaar, and others.Due to this collaboration, Okaya EV will provide the lowest financing rates, with a starting rate of 5.99%. For its low- and high-speed product line, consumers may also take advantage of a Rs 0 down payment, no processing fees, and a customizable term of up to 48 months.According to Okaya EV, consumers may now receive loan approvals in as little as 30 minutes. "We are thrilled to partner with 12 renowned finance companies to offer our customers the finest financing options available in the market," stated Dr Anshul Gupta, MD, of Okaya EV. Our goal of promoting electric transportation and making it more widely available has been advanced by this partnership. We want to make the switch to electric cars smooth and easy by offering cheap interest rates, quick loan approvals, and on-road financing. This way, we can help create a cleaner and greener future.” In India, Okaya EV now has over 550 licenced locations where clients can make reservations and apply for financing on their favourite e-scooter.
Minda Corporation receives EV battery charger order worth Rs 750cr
The producer of auto parts Minda Corporation Ltd announced that a top automaker has awarded it a Rs 750 crore contract to develop battery chargers for electric vehicles.According to a regulatory filing by Minda Corporation, the product would be produced in the Pune site of Spark Minda Green Mobility Systems, a wholly-owned subsidiary. The business did not, however, reveal the identity of the automaker from which it received the order."The total worth of the order is Rs. 750 crore," it continued. The order is "a testament to Spark Minda's robust EV product portfolio and our focus on customer centricity," according to Minda Corporation Executive Director Aakash Minda.He continued, "This milestone underlines our commitment towards promoting sustainable mobility and our ability to adapt to the evolving demands of the global automotive industry." According to the business, approximately 20% of all orders secured during the previous fiscal year were for electric vehicles, and this initiative will further demonstrate Spark Minda's commitment to sustainable and interconnected transportation.
Push to EV segment: Mahindra & Mahindra may raise Rs 5,000cr from British International and others
10-Jul-23 06:09:49 am IST
The automobile maker Mahindra & Mahindra (M&M) is in advanced talks to raise up to Rs 5,000 crore ($605 million) for its electric vehicle (EV) segment from British International Investment (BII) and other international investors, a report read.According to the Economic Times, the British development financier would make its second round investment in the manufacturer with its headquarters in Mumbai if the discussions on Mahindra Electric Automobile are successful. According to the article, which cited anonymous sources, the deal's worth is anticipated to be 10–15 per cent higher than the prior round of fundraising, which valued Mahindra's EV business at Rs 70,070 crore ($9. 1 billion). It further stated, BII and Mahindra Electric have a deal in place for BII to inject Rs 1,925 crore ($250 million) in July 2022 via mandatory convertible preference shares, which would result in a holding of 2.75 to 4.76 per cent, depending on milestones reached.Citing a Mahindra representative, financial daily stated via email: "Our EV business continues to attract interest from investors, even though we have not appointed a banker to begin fundraising." In order to prevent dilution, "our approach has been consistent in raising a small amount of funds."According to the company's routine disclosures to stock markets, Mahindra has budgeted close to Rs 10,000 crore to build a factory in Telangana to produce electric three- and four-wheelers between FY22 and FY27.Between April and October 2025, the manufacturer of the Scorpio, Thar, and XUV line of SUVs plans to introduce five new EV vehicles. By FY27, M&M anticipates that the percentage of electric SUVs in its whole SUV lineup will be 20–30%, or, at the top end, 200,000 EVs annually.
Passenger vehicle’s year-over-year sales increase by 131% despite overall drop in EV sales
10-Jul-23 06:02:33 am IST
The change to the FAME 2 subsidy, which resulted in a decline in the demand for electric two-wheelers and, as a result, a decline in total volumes, caused a major decline in the sales of electric vehicles in the month of June. However, sales of electric passenger vehicles (ePVs) were unchanged month over month in June but increased by 131% year over year. From 2% last month to 1.8% this month, the percentage of electric vehicle sales in total passenger vehicle sales declined marginally.The change in the subsidy still holds optimism because this is truly a "course correction" and retail sales are in line with what the government had predicted.Around 45,759 electric two-wheelers were sold last month, with Ola Electric accounting for 17,579 units sold, or 31.3 per cent of the market, followed by TVS Motor Co. with sales of 7,807 units, or 17 per cent of the market, and Ather Energy coming in third with 4,543 units sold or 12.7 per cent of the market. Additionally, one must be aware that many pre-purchases occurred in May when retail customers took advantage of greater FAME 2 subsidies; as a result, the decline in June volumes cannot be interpreted as an indication of real demand.According to research by BNP Paribas, sales could increase over the next few months as customers adjust to price increases and OEMs perhaps provide more affordable models. According to the report, EV penetration for electric three-wheelers and electric passenger cars marginally decreased monthly, while volume remained consistent.According to the study, Delhi had the greatest decline in the penetration of electric two-wheelers, which fell to 6.3% in June from 9.5% in FY2023. In the two-wheeler retail sector, both TVS Motor Company (3.4%) and Bajaj Auto (1.8%) saw a considerable month-over-month decline in the EV mix. It anticipates that June's e2W penetration will be at the bottom and stabilise around these levels before recovering once OEMs release more affordable models, which should be the subsequent encouraging development for the sector.In June, MG Motor India increased its monthly volume share from 7 per cent to 16 per cent, while Tata Motors saw a decline from 77 per cent to 66 per cent. Across the main states, the volume increase was uneven, with Karnataka reporting the highest monthly sales of electric vehicles. As of the first quarter of FY2024, ePV penetration increased to 1.8%. Kerala made the biggest gain in terms of penetration, with a penetration rate of 6.4 per cent compared to 2.3 per cent in FY23. In June, Tata Motors' EV mix in the PV market marginally declined to 12 per cent. It claims that new model releases, most of which should occur in the second half of FY2024, continue to be a significant positive stimulus for EV penetration.
Murugappa Group plans to unveil 3 e-tractors in FY-2023
08-Jul-23 10:55:24 am IST
TI Clean Mobility (TICMPL), the electric vehicle division of engineering firm Tube Investments of India (TII), owned by the Murugappa Group, intends to introduce at least three electric tractors during this fiscal year because it thinks the tractor market is ready for disruption given the favourable cost economics of battery-powered products.The company TICMPL will concentrate on what it refers to as "the productive end of the EV spectrum—three wheelers, tractors, and medium and heavy commercial vehicles," where there are real and significant financial advantages for the users/owners.In the electric three-wheeler category, the company has already made the battery-powered passenger autorickshaw "Montra" available in the southern regions.Since the cost economics for both electric tractors and electric three-wheelers are the same, the company believes that it is making a substantial bet on e-tractors as a successor to three-wheelers. According to MAM Arunachalam (Arun Murugappan), Executive Chairman of the $723.6 billion TII, "We foresee an enormous potential for tractors in the country due to favourable government initiatives for farm mechanisation and green energy programmes."In India, diesel engines, a growing source of carbon emissions and other pollutants, are used to power most tractors. Electric tractors may be a key component of environmentally friendly farming, helping the farmer as well as the environment.The business claims that e-tractors can reduce carbon dioxide emissions, which are a major contributor to both air pollution and climate change. By utilising the company's cost-effective engineering and application capabilities, TII was able to develop and construct e-tractors from the ground up thanks to the acquisition of Hyderabad-based Cellestial E-Mobility."For various user groups, we want to provide three alternative four-wheel drive options in tractors. The tractor's production facilities are being built at Apex Park in Chennai, Tamil Nadu, and the vehicles are expected to be introduced this fiscal year, according to Mukesh Ahuja, managing director of TII.Its future e-tractor will run on swappable, rechargeable batteries that can be charged within two hours from a home power source and can be driven for six hours before needing a recharge. It is being built as a cost-effective, pollution-free, maintenance-free, and noise-free device."The TCO study demonstrates that the cost disparity over a ten-year period is minimal even when power costs and opportunity costs are considered to be at the top bound, despite the fact that electric tractors need significantly higher purchase costs. Therefore, if certain incentives can be offered, electric tractors might be highly cost-competitive, according to a document from the International Council on Clean Transportation (October 2022).The diesel tractor's 10-year TCO was less than 30.2 lakh whereas that of the electric tractor was around 31.1 lakh. Fuel prices are the main factor in both variations, followed by finance and vehicle purchase expenses.However, persistent incentives offered for EVs, such as the FAME II plan, State-level subsidies, 5% GST, and subsidised insurance, can close the price difference between electric and diesel tractors. With these benefits, it was claimed that e-tractors might become cost-competitive with diesel versions or even less expensive over the long term.The report made it clear that the TCO estimate for electric tractors was conservative since there were gaps in the data's availability and knowledge of the performance of actual tractors. In 2021, the market for electric tractors was expected to be worth more than $120 million. With a compound annual growth rate (CAGR) of 13.1% from 2022 to 2030, it is anticipated to reach $300 million.
Assam records instalment of 139 EV charging stations since 2021
08-Jul-23 10:40:55 am IST
Indian Oil has installed up to 139 electric vehicle charging stations in Assam from 2020–21 to help the state reach its 2070 goal of net zero emissions. There are already 270 such units installed throughout the North Eastern state.In the current fiscal year, according to G Ramesh, executive director and state head of Indian Oil's Assam Oil Division, the company plans to install 230 additional EV charging stations throughout the northeast. "Building the charging stations will encourage people to switch to electric cars, which will help us all cut carbon emissions more quickly. The Central government has set a goal of achieving net zero emissions by 2070. But if we work together, we think we can achieve zero emissions by 2046, when our country will have been independent for 100 years.Arunachal Pradesh has 27 EV charging stations, Meghalaya has 26, Assam has 139, Nagaland has 12, Tripura has 31, Arunachal Pradesh has 27, Arunachal Pradesh has 26, Manipur has 33, and Mizoram has two.To encourage EVs, the Assam government introduced the "Electric Vehicle Policy" in 2021 and the "Vehicle Scrappage Policy" last year, with the goal of replacing all public transport and government vehicles with EVs by 2030 and destroying all cars older than 15 years.The goal of the electric vehicle policy is to hasten the adoption of electric cars such that by 2026, they will account for 25% of all new vehicle registrations. The largest obstacle to the switch to EVs, nevertheless, has been the scarcity of charging facilities.The state government offered an incentive of Rs 20,000, Rs 50,000, and Rs 150,000 for early adoption of EVs for two-wheelers, three-wheelers, and four-wheelers, respectively. According to the policy, registration fees and road tax for electric vehicles would also be waived for a period of five years or refunded. It is important to note that Assam Electronics, which is controlled by the state governmentIn October of last year, Development Corporation Limited (Amtron) signed a contract with a German automaker to establish the northeast's first EV charging station production facility at the Tech City in Bongora, close to Guwahati.
Breakthrough in EV charging: CATL finds Battery technology more efficient in cold weather
07-Jul-23 03:14:15 pm IST
Chinese battery manufacturer CATL said on Thursday that it has created new lithium-ion battery materials that would significantly increase the charging efficiency of electric vehicles, particularly in extremely cold climates.The world's largest battery supplier, CATL, has created new electrolyte materials that might significantly increase the charging efficiency of existing lithium-ion battery designs, according to Wu Kai, the company's top scientist, who spoke at a symposium in Shanghai.Wu didn't go into specifics on how CATL has managed to increase battery performance. He claimed that the new electrolyte may enhance efficiency by 50% at minus 20 degrees Celsius and by 43% at temperatures closer to normal.Winter weather is a difficulty for EVs since the cold delays processes in the electrolyte solution, which are necessary to transfer a charge between the two electrodes of the battery. The additional work required by the battery to heat an EV in cold weather reduces the range even further.This year, he said, CATL will be ready to mass-build a battery with a 400-kilometre driving range and a 10-minute charge.For the same driving range as its next objective, the business wants to reduce that charge time to five to seven minutes, he added. Solid-state batteries with more power and a longer range are being developed quickly by automakers and certain suppliers. These batteries, which are still in prototype, are anticipated to be pricey for many years.Toyota said last month that it has solved a problem with the longevity of solid-state batteries, opening the door to manufacturing as early as 2027. It claimed that it would be able to give a charging time of 10 minutes or less and cut the price and weight of those batteries in half.Wu declared that he did not believe the claims of cost savings and the readiness of solid-state batteries for mass manufacturing. Moreover, Wu responded to a query by saying, “What I know for sure is that no one in the industry today is able to produce solid-state batteries in large quantities. They say they can cut prices in half, which is fantastic and would be tremendously disruptive, but I wonder against what baseline they are measuring.”
EV financing Industry welcomes Rupyy with objective to acquire 10% market share
07-Jul-23 03:03:52 pm IST
A financial technology business called Rupyy, which is a subsidiary of the CarDekho Group, has entered the market for financing electric vehicles.To meet the rising demand for EV finance, the firm claims it has worked with top OEMs and multi-brand outlets (MBOs) in the EV market, including Tork, Pure EV, Trinity, Blive - MBO, Electric One - MBO, Jitendra EV, Hero MotoCorp, Hero Electric, Hop Electric and Ampere, It states that the typical EV loan term is between 12 and 48 months. It recognises the wide range of demands of consumers and provides EV loans along with adaptable repayment choices to fit different financial situations. Rupyy intends to develop plans with reduced EMIs by utilising longer tenures or other cutting-edge methods, in line with customer desires, because it recognises the importance of affordability. For a limited number of EV buyers, Rupyy claims it would finance up to 100% of the on-road pricing.“We have been on a quest to make auto financing available to every Indian and to radically simplify the buying process,” stated Namit Jain, Co-Founder & CEO of Rupyy. He said, "After making a groundbreaking effect in the field of used automobile loans, expanding into the field of EV finance, particularly for two-wheelers, seems like a logical next step in our efforts". With about 4% of the two-wheeler market already embracing electric alternatives, EV adoption is already well underway. Rupyy wants to reimagine how finance works in the sector while placing the customer at the centre of everything. Also, for the foreseeable future, Rupyy wants to take 10% of the market for EV financing.
Audi plans to unveil electric SUV Q8 e-tron in India
06-Jul-23 03:08:52 pm IST
The German luxury automaker Audi will introduce its electric SUV Q8 e-tron in India next month, citing a senior business official, PTI reported. The update is considered to expand the company’s line-up of electric vehicles.On August 18, the business will introduce the Q8 e-tron, which will come in two body variants -- Q8 e-tron SUV and Q8 e-tron Sportback -- and have a 114kW battery that offers a longer range than the current e-tron's 95 kW battery.According to Audi India Head Balbir Singh Dhillon, "We are essentially strengthening our (electric vehicle) product portfolio and (bringing) what is available globally also for our customers in India." "We want to bring India," he continued, "and with the Q8 e-Tron, we wish to further develop our (EV) portfolio with what is the latest available across Audi's offering." The Q8 e-tron is being introduced in India within the same cycle as it is being introduced everywhere in the world, according to Dhillon, underscoring the importance of the Indian market.So, he said, "we are looking very favourably at this model to boost our EV range in India. The current lineup of electric vehicles from Audi India includes the e-tron 50, e-tron 55, e-tron Sportback 55, e-tron GT, and RS e-tron GT.The Q8 e-tron, which he claimed will be one of the premium models in the lineup, will be imported as a completely assembled unit. As part of a global ambition to become an all electric car firm by 2033, Audi has chosen to concentrate on petrol and electric vehicles. "On the same, we are concentrating. We are beginning our journey towards the next generation of (electric) automobiles with the Q8 e-tron. Consequently, more electric automobiles would arrive in India in the upcoming years,” according to Dhillon.He said that despite being offered for an average price of Rs 1.5 crore and catering to a relatively small sector of customers, Audi's electric automobiles in the luxury market are gaining popularity in India."While still relatively small relative to the overall number of cars we sell, the percentage of electric vehicles is rising, and hopefully will continue to do so in the near future. We'll eventually transition to being an all-electric vehicle manufacturer. Therefore, strengthening the e-tron brand in India is still a priority.However, he added, "Electric cars, including the e-tron, are finding their flavour not just in category B and category C towns; there is a lot of positivity that we have from customers across the board and that is helping us grow our volumes."Comparing the first half of 2023 to the same time last year, Audi retail sales in India increased by 97% to 3,474 units. Sales for Audi India increased by 27.14 percent in 2022 to 4,187 cars from 3,293 units in 2021.
EV companies stand tens as Karnataka govt plans to end exemption on road tax
06-Jul-23 02:39:58 pm IST
In Karnataka, companies that sell electric vehicles (EVs) and potential customers are keeping their fingers crossed for the state budget since the transport department has suggested ending the 100% road tax exemption and implementing a 50% road tax for EVs.Concerns about the potential removal of the MV tax exemption have been expressed by EV firms and potential customers since it would result in increased pricing for EVs in the state. EV usage has grown in Karnataka in recent years, but the higher costs may put off some potential buyers from making the move.According to statistics, the state has almost 3 crore registered automobiles, including 2.37 lakh EVs. Karnataka has seen considerable growth in the number of EVs registered, going from 6,152 in 2019 to 9,716 in 2020, 33,314 in 2021, and 95,934 in 2022. In Karnataka, 77,711 electric vehicles (EVs) were registered between January 1 and July 6, 2023. Most electric vehicles (EVs) in Karnataka are two-wheelers and are registered there.The tax on motor vehicles is one of the government's main sources of income. Additionally, Karnataka has the highest internal combustion engine (ICE) car road tax in the nation. For instance, the tax rate is 13% of the real price for automobiles costing less than Rs 5 lakh, 14% for cars costing between Rs 5 lakh and Rs 10 lakh, 17% for cars costing between Rs 10 lakh and Rs 20 lakh, and 18% for cars costing more than Rs 20 lakh. Road taxes for two-wheelers range from 10 to 14 per cent of the price.A senior transport department official stated, "We have suggested a 50% road tax for EVs, but the state administration has not yet made a final decision.""It's too soon to implement a road tax on EVs," said Vivekananda Hallekere, co-founder of Bounce, a maker of electric two-wheelers. The FAME subsidy has already been decreased. This will raise the price of EVs, and the sector will not benefit from the abrupt implementation of road tax on EVs. Instead, the size of the government might grow gradually. A rapid increase in EV prices can put off potential customers.Amit Gupta, co-founder and CEO of the electric mobility firm Yulu, stated that while his company won't be impacted, others who are considering purchasing EVs could. Although the state can't permanently exclude EVs from paying taxes, it should be done so gradually.The Karnataka government exempted all EVs from paying road fees in March 2016. However, some governments give financial incentives to promote EVs, but Karnataka offers road tax exemption and free registration for EV purchasers.The nation's first state to adopt an electric vehicle and energy storage policy was Karnataka in 2017. Although the policy was in effect for five years, a replacement has not yet been revealed by the administration.The state administration, which is governed by Congress, is also putting pressure on the transport department to raise motor vehicle tax income. In Karnataka, where the party gained 135 seats in the 224-member assembly, the Congress party's election guarantees—which included everything from unemployment payments to free food grains for the poor—played a big role in the party's electoral success. However, it is predicted that putting these assurances into place will cost between Rs 50,000 and Rs 60,000 crore annually.
MG Comet EV join hands with G20 Start-up Summit
05-Jul-23 02:25:33 pm IST
A substantial relationship between MG Motor India and the prestigious "Startup20" Shikhar event has been announced.In keeping with its ground-breaking MG Developer & Grant Programme (MGDP), this partnership symbolises MG Motor India's continuous commitment to fostering innovation and entrepreneurship in India's dynamic mobility industry. The Summit, which is expected to be held in Gurgaon on July 3 and 4, 2023, promises to be a remarkable venue for both established companies and start-ups. MG Motor India's Deputy Managing Director, Gaurav Gupta, expressed his enthusiasm for this collaboration by saying, "We take enormous delight in confirming our commitment to supporting innovation and enabling entrepreneurs in the Indian automotive sector through our MG Developer & Grant Programme. At MG Motor India, we have always promoted technology improvements and provided budding business owners with significant support. We are looking forward to the opportunity to promote fruitful partnerships and the sharing of ground-breaking ideas by taking part as the official Mobility Partner in the Startup20 Shikhar event.Since it first arrived in India, MG Motor India has encouraged tech companies to create ground-breaking programmes and experiences that would transform the automotive industry. MG Motor India has worked with almost 1,500 startups in the past four years alone through its highly regarded MGDP, the largest mentorship programme in the automotive industry. In particular, 25 exceptional businesses have won in a variety of categories, including Artificial Intelligence, Autonomous Mobility, Blockchain, Connected Cars, Electric Vehicles & Infrastructure, Virtual Reality (VR), Ease of Business, Shared Mobility, Vehicle Diagnostics, and Sustainability.Startup20, a formal engagement group created under India's G20 presidency, functions as an essential platform for communication amongst international players in the startup ecosystem. This important event, which primarily aims to represent the global startup ecosystem, brings up macroeconomic issues and problems encountered by entrepreneurs in front of G20 officials. Over 300 dignitaries, including representatives from G20 members and invitee nations, international organisations, and national delegations, are expected at the "Startup20" Shikhar event. The 'Startup20' Shikhar event's association with MG Motor India as the Mobility Partner sets the setting for a thrilling confluence of creative minds, lighting the fuse for unparalleled innovation and raising the bar for India's startup ecosystem.
Industry bodies request Delhi govt to relax timeline of EV transition
05-Jul-23 02:16:45 pm IST
The Delhi administration has been encouraged to slacken the deadlines for the transition to electric vehicles (EVs), according to a story in The Economic Times.IAMAI's (Internet and Mobile Association of India) argument is that an aggressive EV transition might harm the lives of gig workers in Delhi who had invested in conventionally powered two-wheelers. As cited by ET, IndiaTech, a lobbying organisation for the technology sector, and Nasscom, which represents firms like Ola, Zomato, and Zepto, have also indicated the dates for the switch to electric vehicles.“The availability of automobiles and accompanying infrastructure should be taken into consideration when setting adoption goals for EVs,” Nasscom stated in its proposal. The objectives for electrification seem unattainable given the minimal availability of EVs in Delhi today, particularly in the 2- and 4-wheeler segments.Furthermore, even if EVs were accessible, it would be challenging for drivers to transition to EVs due to a lack of supporting infrastructure. Therefore, an aggressive electrification policy in a weak supply-side ecosystem will force aggregators and delivery service providers (DSPs) to significantly slow down their business growth in the National Capital Territory of Delhi, which will ultimately affect people's mobility in the NCT of Delhi, it continued.IndiaTech said in its submission that the programme places the obligation of transition on the platforms, which have no control over the cars, and urged the Delhi government to ease off on the objectives and eliminate fines on the mandatory EV transition."The vehicles belong to the gig worker, and any intention to switch to EV is at the sole discretion of the gig workers," it said.In order to comply with this legislation, industry participants will have to "reserve" all gig work for just those who have electric vehicles for two years and for four years, respectively. Such regulation will result in entrance obstacles for people who cannot afford an EV.
Luxury car segment will observe a 20-25% growth in EV penetration: Head of Audi India
04-Jul-23 08:10:44 am IST
The term electric vehicle has gained popularity in India, where new models are often introduced by the nation's automakers. The luxury automobile makers have also switched their base from diesel and petrol cars to hybrid and electric vehicles, betting on India's EV journey. According to Balbir Singh Dhillon, Head, of Audi India, as the nation progresses towards EVs, the luxury automobile segment's participation in the electric mobility area would increase to 20%-25% by 2025-26.Citing Dhillon, Fortune India reported, "While India is heading in the direction of electric mobility, I think the luxury segment penetration in electric mobility will be much faster. Because this will also be a phenomenon in India when the majority of global luxury automotive manufacturers transition to electric mobility. Accordingly, we do think that the 5% electric vehicle penetration rate in the luxury market in India would increase to 20-25% by 2025–2026 and continue to expand from there, adds Dhillon.Currently, the company's lineup of electric vehicles includes the Audi e-tron. Audi E-Tron is available in a variety of models, including the 50, 55, Sportback, GT, and RS e-tron GT. This year, the business intends to introduce new items to the Indian market. The Q8 Etron, Audi India's next electric vehicle, will be on sale in the second half of this year, the company has previously said."We will either introduce new items or new versions this year. Sportbacks, sedans, SUVs, and sports vehicles are all part of our extensive global lineup. Additionally, many body types are accessible on a worldwide scale. Although we are experimenting with our goods, there are some market sectors where clients prefer SUVs” Dhillon added.Currently, just 1% of all vehicles sold in the nation are in the luxury car sector. According to Dhillon, the luxury automobile segment in the Indian market is still in the region of 1%–1.5% compared to other South East Asian economies where luxury vehicle penetration has persisted to close to 6% or occasionally up to 20%.However, according to Dhillon, India has a lot of untapped potential and the luxury market will continue to expand over the next 20 to 30 years. "India has a lot of untapped potentials, and we expect the luxury market to develop steadily over the next 20 to 30 years. And for that reason, we'll keep making investments and bringing our consumers more and more goods. We definitely think India is a market to be in for the medium to long term, and that's been our aim -- to provide new goods, grow with our partners, and build on client loyalty," adds Dhillon. The premium automobile maker has 29 shops spread across 24 Indian cities.The luxury automobile market, which in the past struggled with concerns including a scarcity of semiconductors and supply-chain problems, has gathered up steam in recent quarters. By selling more than 9,500 units during the January to March quarter of 2023, the luxury automobile sector had a 10% year-over-year (YoY) increase. Audi India had a 126% YoY increase in sales as a result. Audi India's H1 2023 sales increased 97% year over year (YoY) to 3,474 units from 1,765 units during the same period in 2022.“Our performance in the first half of the year laid the foundation for a successful second half of the year, despite supply problems and rising input prices. Audi Q3, Audi Q3 Sportback, Audi Q5, Audi A4, and Audi A6 are among the models that are in high demand. Our best models, such as the Audi Q7, Q8, Audi A8 L, Audi S5, Audi RS5, Audi RS Q8, and Audi RS e-tron GT, are also doing well on the market. With the addition of the Audi Q8 e-tron to our electric portfolio, we predict even greater success in this market.” adds Dhillon.The corporation places the blame for this increase in sales on the introduction of new models, the expansion of the used vehicle market, strong customer loyalty, as well as a change in consumer mood in tier-II and tier-III cities. "The new models that we have introduced have contributed to the rise. The sector is likewise expanding rapidly. Additionally, we enjoy a high level of client loyalty, and we are expanding our used car industry, adds Dhillon."Customer attitudes are changing in Tier II cities and beyond in India. Initially, we exclusively sold in the top five metro regions; but, as of late, we have expanded into tier II cities and beyond. As a result, our presence in metro regions has decreased in contrast to tier-II and tier-III communities” he says. The luxury automaker expects that despite a decline in the proportion of sales in metro areas, Audi India's overall sales would continue to increase in the first half of 2023.According to the German automaker, Audi India's SUV (sports utility vehicle) lineup has dominated sales over the past six months.According to Dhillon, the sector accounted for 60% of Audi India's first-quarter sales. The company's SUV lineup includes the Audi Q3, Q5, Q7, and Q8 models. According to Dhillon, of these, the Audi Q3 has grown to be the most desired and well-liked product by consumers. In August of last year and in February of this year, the business introduced the Audi Q3 and Audi Q3 Sportback.
On June 27th in Ahmedabad, the third iteration of EVangelise, India's largest EV innovation challenge, was launched by iCreate (International Centre for Entrepreneurship and Technology), the country's top innovation-based start-up incubator. Distinguished businessmen attended the launch event in the honourable presence of Shri Jagdish Vishwakarma, Hon'ble Minister of State, Government of Gujarat, including Mr Rajeev Chaba, President and MD of MG Motor India, Mr Amitabh Saran, Founder and CEO of AltiGreen, Dr Yogesh Bhatia, MD and CEO of LML Electric, and Mr Kartikey Hariyani, Founder of TecSo Charge+Zone.The Hon'ble Chief Minister of Gujarat, Shri Bhupendra Patel, highlighted the value of electric mobility in a message, emphasising how it would help India become a cleaner, greener country in the future, in keeping with the vision of Atmanirbhar Bharat that the Hon'ble Prime Minister, Shri Narendra Modi, has outlined. He praised iCreate for their ongoing efforts in putting on EVangelise and urged participants to help India gain a leading position in the world's electric vehicle market.The CEO of iCreate, Mr Avinash Punekar, expressed his happiness at the EVangelise 23 debut and reaffirmed the company's commitment to actively support India's transition to sustainable mobility. He expressed confidence that building on the success of the other editions, EVangelise 23 will provide EV entrepreneurs and innovators with chances like never before.The opening event featured engrossing keynote addresses from business experts who discussed the direction of the EV industry's growth, obstacles, and lessons learned from their own experiences. Rajeev Chaba, CEO Emeritus of MG Motor India, said how proud he was to be a part of such an amazing project. In order to overcome challenges encountered throughout their journey in India's EV sector, he emphasised the need for technology and strategic alliances. In addition, he said that EVangelise was a huge step forward for the Indian e-vehicle industry and that it will fuel the development of sustainable, efficient, and clean transportation in the future. Mr Chaba continued, "EVangelise offers a fantastic opportunity to find distinctive solutions that are specially designed for India and at a reasonable cost.”A panel discussion titled "Steps to Make India a Global Leader in the EV Sector" was also part of the event. Arun Pratap Singh, co-founder and CEO of Matter; Amitabh Saran, founder and CEO of Altigreen Propulsion Labs; and Dr Yogesh Bhatia, MD and CEO of LML Electric are just a few of the panellists that represent well-known businesses. The panellists' deep knowledge and experience were put to use in a productive discussion about creating strategic plans to maintain India's dominant position in the world's EV market.The founder of TecSo Charge+Zone, Mr Kartikey Hariyani, enthralled the audience with his insightful stories about his experiences in the EV sector. He talked about how excited he was to be a part of EVangelise23 and how the platform offered great potential for development and cooperation in the EV sector. "I never thought I'd discover my calling in the EV environment. When we first entered the EV market in 2018, we encountered several difficulties. The State Government's assistance and our committed staff, however, allowed us to successfully negotiate the charging industry's difficulties. Without iCreate's incredible assistance, none of this would have been possible. The mission of EVangelise 23 is to catalyse ground-breaking innovation in India's electric vehicle industry. The programme seeks to foster the development of innovative concepts and advance India's electric vehicle market by broadening the challenge's scope and reach.