electric vehicles | Page 3

In September last year, Hero MotoCorp, its existing shareholder has announced its board's approval to invest INR 550 crore into Ather Energy.

The company intends to utilize the funds towards scaling up production at its manufacturing facility in Supa (Maharashtra), marketing and distribution of its current products including the recently-launched E-Luna, and towards research and development of new products.

To achieve this target, automobile financing will need to increase by 2-18 per cent unitl 2070 to address potential funding shortfalls in the industry.

For businesses, the app empowers fleet operators with access to an extensive network of public chargers, business credits and optimised fleet management through telematics support.

In addition, combining Solar Rooftop Systems with EVs de-couples the well-to-wheel emissions of EVs from the grid mix, thus offering a much faster path towards net zero emissions for the transportation sector.

According to the investors in the segment, opening a cell factory in India will be challenging in terms of infrastructure, logistics and required materials.

The company will launch its first electric vehicle and promote diverse eco-friendly technologies in FY25. The company aims to roll out six EV models by FY31, depending on cost reductions and the growth of local charging infrastructure.

If we look at company wise data, the market leader Ola Electric whose IPO has opened today, recorded 114 per cent YoY growth with 41,597 units sold in July 2024

According to the SOPs, consumers, owners, and associations who would like to install additional EV charging stations in the spaces which are specifically identified for those installations under the new clause would have to obtain permission from the distribution licensee which can also be the escom.

M&M currently sells the XUV400 in the EV segment and aims to expand its offerings by adopting more cost-effective lithium iron phosphate (LFP) technology over the more expensive nickel manganese cobalt (NMC) technology favoured in Europe.

New-age tech startups DecoverAI and ElectricPE have announced early-stage investments for further advancements in existing technology and market solidification.

As per the current EMPS scheme, this is eligible for INR 10,000 per motorcycle as subsidy from Government of India, which will make it competitively priced in the market further boosting both the sales and profitability of the company in a big way.

MediaTek and JioThings have jointly launched an indigenously made Internet of Things (IoT) platform for the electric two-wheeler market.

Kinetic Green boasts of being the first company to develop ARAI approved electric three-wheelers and the first to offer Lithium-ion battery technology in their electric three-wheelers in India

The rise in the red metal price will force manufacturers either to absorb the costs, reduce profit margins or increase vehicle prices.

Since October 2022, Mercedes-Benz India has been assembling the EQS at the Chakan plant. This is the only model currently being assembled locally out of the four EV models sold in India—SUVs EQA, EQB, and EQE, and the EQS sedan.

His comments came after Zerodha co-founder Nikhil Kamath took a light-hearted dig at Ather Energy's marketing strategy. Kamath appreciated Ather products for their quality but called out their inefficient marketing strategy.

The Faster Adoption and Manufacturing of Electric Vehicles scheme, if unveiled, is expected to offer financial incentives to electric two-wheelers and three-wheelers as well as government-owned buses.

These pioneers are not just aiming to capture a market share; they're striving to redefine the future of mobility in the world's second-most populous country.

This comes after the Uttar Pradesh government had announced a three-year exemption from tax and registration fees for the purchase of EVs which will be valid for five years for EVs manufactured within the state, last year.

In FY24, Sterling Tools reported INR 600 crore plus revenue in fastener business and INR 325 crore in the company's electric vehicle control units