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EV Loan Guide: Get the best Car Loan Interest rates from all Banks in one place!

By
Rahul Roy
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0
EV Loan Guide: Get the best Car Loan Interest rates from all banks in one place!

EV Loan Guide

As the global movement towards sustainable transportation gains momentum, there has been a noticeable shift from traditional petrol and diesel vehicles to electric vehicles (EVs). This transition is driven by increasing environmental awareness and technological innovations. Recognizing the importance of this shift, the Government of India has taken proactive steps to encourage the adoption of EVs by offering various tax benefits and incentives to consumers.

Government Initiatives

The Government of India aims to boost the uptake of electric vehicles by providing tax incentives and financial benefits. These measures are designed to make EVs more accessible and affordable for the average consumer, thereby reducing the country’s carbon footprint and fostering a cleaner environment.

Financing Options

To further facilitate the purchase of electric vehicles, a range of financing options is available through various financial institutions. These options help bridge the gap for potential EV buyers who are looking for financial support to make the transition.

Types of Financiers

  1. Banks: Traditional banking institutions offer EV loans with competitive interest rates and flexible terms.
  2. Non-Banking Financial Companies (NBFCs): These institutions provide tailored financial products for EV purchases, often with fewer bureaucratic hurdles than banks.
  3. Small Finance Banks (SFBs): SFBs focus on providing credit access to underserved segments, making them a viable option for personal EV financing.

Categories of Loans

  • Personal Use Loans: These loans cater to individuals looking to purchase electric two-wheelers, three-wheelers, or cars for personal use.
  • Commercial Use Loans: Designed for businesses, these loans support the acquisition of electric vehicles for commercial purposes, including fleets of cars, UVs, and buses.

Segments Covered

  • Two-Wheelers: Ideal for short commutes and city travel.
  • Three-Wheelers: Commonly used for commercial transport and goods delivery.
  • Cars and Utility Vehicles (UVs): Suitable for both personal and commercial use.
  • Buses: Focused on public transportation and large-scale passenger movement.

Loan Details

When considering an EV loan, it’s important to understand the financial terms, which can vary depending on the financier and loan category:

  • Interest Rates: These rates can fluctuate based on market conditions and the financier’s policies.
  • Loan-to-Value (LTV) Ratios: This indicates the percentage of the vehicle’s value that can be financed through a loan.
  • Tenure: Loan tenures are typically flexible, ranging over several months, allowing borrowers to choose a repayment schedule that suits their financial situation.
  • EMI per Lakh: This metric helps borrowers estimate the monthly installment they would need to pay for every lakh borrowed.

By understanding these components, potential EV buyers can make informed decisions and select the most suitable financing option for their needs. With the right financial support, transitioning to an electric vehicle has never been more achievable.

Jasper 2024 08 28T093A58.769Z EV Loan Guide: Get the best Car Loan Interest rates from all Banks in one place!

Two Wheelers EV Loan Guide – Best Car Loan Interest rates

Bank – Personal

Summary

Interest Rates (%)LTV (%)Tenure (months)EMI per Lakh (Rs.)
12-18%60-80%12-24₹ 4,367

Bank Details

BanksInterest Rates (%)LTV (%)Tenure (months)Link
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NBFCs – Personal

Summary

Interest Rates (%)LTV (%)Tenure (months)EMI per Lakh (Rs.)
15-25%60-80%6-24₹ 3,978

Bank Details

BanksInterest Rates (%)LTV (%)Tenure (months)Link
revfinlogo EV Loan Guide: Get the best Car Loan Interest rates from all Banks in one place!Up to 25% (Annualised Reducing Rate) OR 14% Flat Interest Rate90% of On-road Price(Rs. 30,000 – Rs.1.00 lakh)3 – 15 MonthsClick here
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Four wheelers EV Loan Guide – Best Car Loan Interest rates

Bank – Personal

Summary

Interest Rates (%)LTV (%)Tenure (months)EMI per Lakh (Rs.)
6.5-11%90-95%36-48₹ 2,565

Bank Details

BanksInterest Rates (%)LTV (%)Tenure (months)Link
sbi EV Loan Guide: Get the best Car Loan Interest rates from all Banks in one place!7.05-7.75%Click here
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NBFCs – Personal

Summary

Interest Rates (%)LTV (%)Tenure (months)EMI per Lakh (Rs.)
12-18%85-90%36-48₹ 2,691

Bank Details

BanksInterest Rates (%)LTV (%)Tenure (months)Link
tatacaplogo EV Loan Guide: Get the best Car Loan Interest rates from all Banks in one place!10.75%Click here

Read more: When will India’s EV sales include Solid State Batteries?

IndiGo Takes Action: Mahindra’s ‘6e’ Trademark Under Fire!

By
Dhrubajyoti Dutta
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0
IndiGo Takes Bold Action: Mahindra's '6e' Trademark Under Fire!

IndiGo Takes Action: Mahindra’s ‘6e’ Trademark Under Fire!

The battle over trademarks has taken a new turn as IndiGo, India’s largest airline, has filed a lawsuit against Mahindra Electric Automobile Ltd for alleged trademark infringement. The dispute centers around Mahindra’s use of the name ‘6e’ for its newly launched electric SUV, the BE 6e, which IndiGo claims infringes on its trademarked ‘6E’, a name synonymous with its airline services. The case has been filed in the Delhi High Court, and both parties are now working toward a resolution.

IndiGo Takes Action: Mahindra's '6e' Trademark Under Fire!
IndiGo Takes Action: Mahindra’s ‘6e’ Trademark Under Fire!

The Core of the Dispute

IndiGo, operated by InterGlobe Aviation Limited, has long used the ‘6E’ branding as part of its identity, representing its airline services. The company alleges that Mahindra’s use of ‘6e’ for its electric SUV could lead to confusion among consumers and dilute the airline’s brand equity.

IndiGo Takes Action: Mahindra's '6e' Trademark Under Fire!
IndiGo Takes Action: Mahindra’s ‘6e’ Trademark Under Fire!

Mahindra, on the other hand, has defended its position, stating that the ‘BE 6e’ name is part of its Born Electric SUV lineup and is fundamentally different from IndiGo’s ‘6E’ branding. The automaker clarified that its trademark application falls under Class 12 (vehicles), which is distinct from IndiGo’s aviation-related trademark.

Mahindra’s Response: No Conflict Intended

In an official statement, Mahindra said, “We don’t see a conflict as Mahindra’s mark is ‘BE 6e,’ not the standalone ‘6E.’ It differs fundamentally from IndiGo’s ‘6E,’ which represents an airline, eliminating any risk of confusion. The distinct styling further emphasizes their uniqueness.”

Mahindra also emphasized that it had no intention of infringing on IndiGo’s goodwill and is actively engaging with the airline to find an amicable solution. The next hearing for the case is scheduled for December 9, 2024.

IndiGo Takes Action: Mahindra's '6e' Trademark Under Fire!
IndiGo Takes Action: Mahindra’s ‘6e’ Trademark Under Fire!

A History of Trademark Disputes

This isn’t the first time IndiGo has taken legal action against an automaker. The airline previously filed a lawsuit against Tata Motors over the use of the name ‘Indigo’ for its subcompact sedan. Tata Motors used the name for several models, including the Indigo Marina, Indigo CS, and Indigo Manza, between 2002 and 2018. The case highlights IndiGo’s proactive approach to protecting its brand identity.

Mahindra’s Born Electric Lineup: A New Era

The BE 6e is part of Mahindra’s newly launched Born Electric SUV lineup, which also includes the XEV 9e. These vehicles are built on Mahindra’s innovative INGLO platform, designed to cater to the growing demand for electric vehicles in India. The BE 6e, in particular, has been positioned as a futuristic and eco-friendly SUV, aiming to capture the attention of environmentally conscious consumers.

IndiGo Takes Action: Mahindra's '6e' Trademark Under Fire!
IndiGo Takes Action: Mahindra’s ‘6e’ Trademark Under Fire!

What’s at Stake?

For IndiGo, the lawsuit is about protecting its brand identity and ensuring that its ‘6E’ trademark remains exclusive to its airline services. For Mahindra, the case could impact the marketing and branding of its electric SUV lineup, which is a critical part of its strategy to dominate the EV market.

The Road Ahead

As the case unfolds, it will be interesting to see how the Delhi High Court interprets the potential for consumer confusion between the two brands. With both companies expressing a willingness to resolve the matter amicably, a settlement could be on the horizon. However, the outcome will set a precedent for how trademarks are protected across different industries in India.

IndiGo Takes Action: Mahindra's '6e' Trademark Under Fire!

Why This Matters

The case underscores the growing importance of intellectual property rights in a competitive market. As brands diversify and expand into new sectors, the potential for trademark disputes increases. This legal battle between IndiGo and Mahindra serves as a reminder for companies to carefully evaluate their branding strategies to avoid conflicts.

Ola Electric Sales Crash 33%: What’s Next for the EV Giant?

By
Dhrubajyoti Dutta
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0
Ola Electric

Ola Electric Sales Crash 33%: What’s Next for the EV Giant?

In a surprising turn of events, Ola Electric has reported a significant decline in sales for November 2024, with new registrations of electric scooters dropping by 33% compared to the previous month.

According to data from the Vahan portal, the Bengaluru-based electric vehicle (EV) manufacturer registered 27,746 new scooters last month, starkly contrasting the 40,000 units sold during the festive season in October 2024. This downturn has also led to a notable decrease in the company’s market share, which fell from 30% in October to 24% in November.

Ola Electric

Market Dynamics: Ola Electric vs. Competitors

Despite the decline, Ola Electric still maintains the largest market share in the Indian electric scooter segment. However, the competition is heating up. Legacy players like TVS Motor Company and Bajaj Auto are closing the gap, holding 23% and 22% market shares, respectively. While both companies have a more limited product lineup—TVS with its iQube and Bajaj with the Chetak—they are steadily gaining traction in the market.

Ola Electric’s diverse product portfolio, which includes several new models set to launch in the coming months, has been a key factor in its leading position. However, the recent sales slump raises questions about the company’s ability to maintain its edge in a rapidly evolving market.

Customer Service Issues Impacting Sales

Ola Electric

One of the critical factors contributing to Ola Electric’s declining market share is its inconsistent customer service. Reports of poor customer support have surfaced, leading to dissatisfaction among existing and potential customers. This decline in service quality is particularly concerning given that Ola Electric held a commanding 49.8% market share in May 2024, which has since dwindled to 28.6% in September and now 24%.

If Ola Electric does not address these service issues promptly, it risks losing more ground to its competitors. The entry of Honda into the electric scooter market with its new models, the Activa e: and QC 1, adds another layer of challenge for Ola. As Honda establishes its presence, the competition for market share will only intensify.

The Road Ahead for Ola Electric

Ola Electric

As Ola Electric navigates this challenging landscape, the company must focus on improving its customer service and addressing the concerns of its users. With a robust product lineup and upcoming launches, there is still potential for recovery. However, the pressure from established players and new entrants like Honda means that Ola must act swiftly to retain its leadership position in the EV market.

Mahindra BE 6e vs. XEV 9e: Which Base Variant Reigns Supreme?

By
Dhrubajyoti Dutta
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0
Mahindra BE 6e vs. XEV 9e

Mahindra BE 6e vs. XEV 9e: Which Base Variant Reigns Supreme?

As Mahindra gears up to dominate the electric vehicle (EV) segment in India, the launch of its two born-electric SUVs, the Mahindra BE 6e and XEV 9e, marks a significant milestone. With the BE 6e priced at ₹18.90 lakh and the XEV 9e starting at ₹21.90 lakh, both models offer a range of features in their base variants, known as Pack One. However, they do have some notable differences. In this blog post, we’ll dive into the features, specifications, and safety kits of these two exciting electric SUVs to help you make an informed decision.

Mahindra BE 6e vs. XEV 9e
Mahindra BE 6e vs. XEV 9e

Mahindra BE 6e vs. XEV 9e: Overview of Mahindra’s Electric Ambitions

Mahindra has ambitious plans to expand its presence in the EV market, and the BE 6e and XEV 9e are just the beginning. While both models are well-equipped, they do lack some premium features found in higher variants, such as a panoramic sunroof, Level 2 Advanced Driver Assistance Systems (ADAS), and self-parking functions. Let’s explore what each base variant has to offer.

Mahindra BE 6e Pack One: Features and Safety Kit

The Mahindra BE 6e Pack One is designed to impress with its high-tech features and safety equipment. Here’s what you can expect:

Mahindra BE 6e vs. XEV 9e
Mahindra BE 6e vs. XEV 9e

Key Features

  • All-LED Lighting Setup: Enhances visibility and adds a modern touch.
  • 18-Inch Wheels with Aero Covers: Stylish and aerodynamic design.
  • 150-Litre Frunk: Additional storage space alongside a 455-litre rear boot.
  • Dual 12.3-Inch Screens: For infotainment and a customizable instrument cluster.
  • Mahindra Artificial Intelligence Architecture (MAIA): Powers various tech systems for a seamless experience.
  • Qualcomm Snapdragon Chipset: Ensures fast and efficient performance.
  • Connectivity Features: OTA updates, 5G connectivity, pre-installed OTT apps, built-in Amazon Alexa, and support for external devices.
  • Audio System: Four speakers and two tweeters for an immersive sound experience.
  • Comfort Features: Push-button start/stop, fabric upholstery, keyless entry, auto climate control, and rear AC vents.
  • Safety Kit: Six airbags, rear camera and sensors, brake-by-wire technology, tyre pressure monitoring system, electronic parking brake, and driver drowsiness detection.

Mahindra XEV 9e Pack One: Features and Safety Kit

The Mahindra XEV 9e Pack One shares many features with the BE 6e but has a few differences worth noting:

Mahindra BE 6e vs. XEV 9e
Mahindra BE 6e vs. XEV 9e

Key Features

  • Similar High-Tech Equipment: Most features from the BE 6e are present, but some are missing.
  • No Electronic Parking Brake: Unlike the BE 6e, this feature is not available in the XEV 9e base variant.
  • Lacks 5G Connectivity and Push-Button Start/Stop: These features are exclusive to the BE 6e.
  • No Pre-Installed OTT Apps: The XEV 9e does not come with pre-installed news, social media, and shopping apps.

Powertrain and Performance

Both the BE 6e and XEV 9e are powered by the same 59-kWh battery pack, which connects to an electric motor generating 231 hp and 380 Nm of torque. They both offer an impressive range of 542 km (MIDC) and share features like virtual engine sounds, single-pedal drive, variable ratio power steering, and multiple drive modes (Range, Everyday, and Race). Notably, the BE 6e includes a Boost function in Race mode and features low rolling resistance tyres for enhanced efficiency.

Missing Features in Base Variants

While both SUVs come well-equipped, they do miss out on several desirable features that are available in higher variants:

Mahindra BE 6e vs. XEV 9e
  • Safety Features: 7 airbags, Level 2 ADAS, blind spot monitoring, a 360° camera, and self-parking functions are not included.
  • Luxury Features: A panoramic sunroof with integrated ambient lighting and a premium 1,400W, 16-speaker Harman Kardon sound system with Dolby Atmos are also absent.
  • Advanced Displays: A head-up display with augmented reality is not available in the base variants.

Pricing and Charging Options

The BE 6e Pack One is priced at ₹18.90 lakh, while the XEV 9e Pack One starts at ₹21.90 lakh. Additionally, buyers will need to invest in a charger, with options for 7.2 kW and 11 kW chargers.

MG Cyberster: India’s First Electric Roadster Unveil Soon!

By
Dhrubajyoti Dutta
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0
MG Cyberster

MG Cyberster: India’s First Electric Roadster Unveiled Soon!

Excitement is building in the Indian automotive landscape as JSW MG Motor India announces the launch of the MG Cyberster, the country’s first electric roadster. Set to make its grand debut at the Bharat Mobility Global Expo 2025 in January, this innovative vehicle promises to redefine premium electric mobility in India.

A New Era of Luxury Electric Vehicles

MG Cyberster

The MG Cyberster is the inaugural model under MG Motor’s luxury sub-brand, MG Select, which aims to cater to discerning customers seeking sustainability without compromising on performance or style. This electric roadster is not just a car; it’s a statement of intent, merging classic design with cutting-edge technology.

Classic Inspiration Meets Futuristic Design

MG Cyberster

Drawing inspiration from the iconic MG B Roadster of the 1960s, the Cyberster beautifully blends nostalgia with modernity. Its design features include:

  • Butterfly Doors: A striking entry that enhances the car’s sporty appeal.
  • Aerodynamic Body: Engineered for performance and efficiency.
  • Dual-Tone 20-inch Alloy Wheels: Adding a touch of elegance and style.
  • Arrow-Shaped Taillights: A futuristic element that complements its sleek silhouette.

The Cyberster is designed to turn heads while delivering an exhilarating driving experience.

Unmatched Performance and Specifications

Under the hood, the MG Cyberster is a powerhouse. Here’s what you can expect:

MG Cyberster
  • Dual Electric Motors: Delivering a staggering 528 bhp and 725 Nm of torque.
  • All-Wheel Drive: Ensuring superior control and stability on various terrains.
  • Acceleration: A jaw-dropping 0 to 100 km/h in just 3.2 seconds, making it one of the fastest electric roadsters in its class.
  • Battery Range: Powered by a 77 kWh lithium-ion battery, the Cyberster boasts an impressive range of up to 570 km on a single charge, making it ideal for both city driving and long journeys.

A Legacy of Innovation

The MG Cyberster is not just about performance; it embodies the rich heritage of MG’s iconic vehicle design. Gaurav Gupta, Chief Growth Officer of MG Motor India, stated, “The MG Cyberster blends the timeless allure of classic roadsters with modern technology and inspired innovation. It encapsulates the thrill and charm of a bygone era while appealing to the discerning tastes of new-age luxury customers in India.” This sentiment reflects MG’s commitment to crafting vehicles that resonate with both history and the future.

Shaping the Future of Electric Vehicles in India

MG Cyberster

With the Cyberster leading the charge, MG Select plans to roll out four additional premium electric models by 2026. This ambitious strategy underscores MG’s commitment to innovation and performance in the burgeoning luxury EV market. The Cyberster is set to establish a new benchmark, combining craftsmanship with advanced electric technology.

MG Select’s Vision for the Future

MG Select aims to cater to a niche segment of customers who value sustainability, innovation, and unique experiences. Over the next two years, the brand plans to establish 12 exclusive experience centers in major Indian cities, providing a premium and environmentally conscious automotive experience. This initiative will allow customers to engage with the brand and its offerings in a more immersive way.

New Electric Vehicle (EV) Programs in India for 2024

By
Sayonjit Roy
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0
EV charging service

The market for electric vehicles (EVs) in India is changing dramatically due to government initiatives and growing consumer environmental consciousness. Through 2024, a number of initiatives have been launched nationwide with the goal of lowering carbon emissions and encouraging environmentally friendly transportation. An outline of the main electric vehicle programs started by the federal and state governments is given in this blog.

Prominent Programs Encouraging EV Adoption

  1. PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-Drive)
    The PM E-Drive program, which was introduced on October 1, 2024, intends to hasten the adoption of electric vehicles by offering significant subsidies and incentives. This initiative, which encourages the purchase of electric two-wheelers, three-wheelers, e-ambulances, e-trucks, and more, has been given ₹3,679 crore by the government. It is anticipated that the program will make it easier to finance 14,028 e-buses and about 24.79 lakh electric two-wheelers.
  2. EMPS 2024: Electric Mobility Promotion Scheme
    Beginning on April 1, 2024, the EMPS was launched with a four-month investment of ₹500 crore. Promoting electric two-wheelers and three-wheelers that are registered for commercial usage is the main goal of this program. It intends to expand public transportation options while creating a competitive electric vehicle manufacturing ecosystem in India.
  3. Scheme to Promote Manufacturing of Electric Passenger Cars (SPMEPCI)
    This plan, which was approved on March 15, 2024, aims to transform India’s electric passenger car manufacturing industry. It seeks to lessen dependency on imported oil, reduce air pollution, and create jobs in the electric vehicle industry by promoting domestic manufacturing and innovation.

Also Read: EV Loan Guide: Get the best Car Loan Interest rates from all Banks in one place!

Tata EV

Initiatives at the State Level

In order to encourage electric mobility, several states have also implemented their own programs:

  • Delhi: To encourage electric vehicle adoption in the face of elevated pollution, the Delhi Electric Vehicle Policy restored incentives for EVs.
  • Maharashtra: As a bylaw, the state provides significant incentives for electric buses and two-wheelers.
  • Chandigarh and Punjab: To promote local adoption, offer particular financial incentives for e-cycles and e-vehicles.

Obstacles and Opportunities for the Future

Even with these encouraging advancements, there are still obstacles in the way of increasing electric vehicle adoption in India. Due to restricted model availability and higher prices as compared to vehicles with internal combustion engines, electric vehicle adoption in the passenger vehicle market is now at around 2.5%. To maintain growth in this area, industry leaders stress the necessity of more precise regulations and long-term planning.

Conclusion

Achieving sustainable urban transportation depends on the Indian government’s aggressive promotion of electric vehicles through a number of programs. It is anticipated that these projects will have a major impact on the nation’s economic growth and environmental outcomes as they develop throughout 2024. In order to remove current obstacles and promote a strong electric vehicle ecosystem, government agencies and automakers must maintain their cooperation.

India’s EV Market: Shocking Future You Need to Know!

By
Dhrubajyoti Dutta
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0
India’s EV Market

India’s EV Market: Shocking Future You Need to Know!

As India strides towards a sustainable future, the electric vehicle (EV) market is poised for explosive growth. With Prime Minister Narendra Modi envisioning a developed India by 2047 and committing to net-zero emissions by 2070, the push for cleaner transportation is more critical than ever. The transportation sector, responsible for approximately 20% of urban pollution in India, is at the forefront of this transformation.

India's EV Market: Shocking Future You Need to Know!
India’s EV Market

The Urgent Need for Change

India faces a significant challenge: out of the 50 most polluted cities globally, 42 are in India. This alarming statistic underscores the necessity for a robust transition to electric vehicles. The Indian government is actively promoting the EV sector to combat pollution and foster sustainable growth, making it a priority for both policymakers and consumers.

A Sector Ready to Thrive

The shift towards electric vehicles is already underway, particularly in the logistics sector, which is rapidly adopting EVs for last-mile deliveries. This initial adoption is paving the way for greater acceptance among consumers, with many opting for EVs as their second vehicles.

Government initiatives, such as the FAME (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) schemes, have been instrumental in this growth. These programs offer attractive subsidies and have reduced the Goods and Services Tax (GST) on EVs to 5%, compared to 28% for internal combustion engine (ICE) vehicles. This financial incentive has spurred local manufacturing, with a strong emphasis on developing components like battery packs, battery management systems, and motors within India.

India's EV Market: Shocking Future You Need to Know!

The Investment Landscape

To fully decarbonize the transportation sector by 2070, it is estimated that OEMs (Original Equipment Manufacturers) will need to invest over USD 323 billion. While this figure may seem daunting, it represents a massive opportunity for early investors. Companies that invest in EV infrastructure, vehicle production, and battery technology now stand to reap significant rewards in the future.

The successful IPO of Ola Electric and the upcoming IPO of Ather signal a positive trend for the sector. Major players like Hero Motors and TVS Motors are also investing in promising startups, further solidifying their positions in the EV market. By 2050, EV sales in India are projected to reach USD 300 billion, creating a wealth of opportunities for OEMs and investors alike.

Building the Infrastructure

As the EV market matures, the need for robust public charging infrastructure and locally produced battery packs becomes paramount. Currently, there are over 16,000 CCS2 chargers available across India, with numerous startups and SMEs working on innovative battery solutions. Energy giants like HPCL and BPCL are stepping up to install chargers at their outlets, while IOCL partners with Phinergy to offer aluminum-air battery packs.

India's EV Market: Shocking Future You Need to Know!
India’s EV Market

Battery swapping technology is also gaining traction, providing consumers with flexible charging options and further supporting the sector’s expansion. For investors, the real potential lies in backing the infrastructure that will power the EV revolution.

The Battery Boom: A New Era

Batteries are becoming the lifeblood of the EV industry, often referred to as the “new oil.” India is actively promoting local battery manufacturing through Production-Linked Incentive (PLI) schemes. As charging technology advances, reducing charging times without compromising battery life, the adoption of EVs will continue to rise. Electric two-wheelers are expected to lead this charge by 2030, driving demand for batteries and components.

Financing the Future of EVs

One of the significant challenges facing the EV sector is the availability of financing options. While EVs generally have higher upfront costs, several startups are emerging to fill this gap. Companies like Alt Mobility, Oto Capital, and Leaf Round are providing innovative financing solutions, while traditional financial institutions are slowly entering the market. This shift will help bring parity to financing costs, making EVs more accessible to consumers.

India's EV Market: Shocking Future You Need to Know!

Opportunities Across the Value Chain

The EV ecosystem offers vast investment potential beyond just vehicles. Opportunities abound in charging stations, battery production, after-sales services, and software solutions that optimize vehicle performance. The expansion of charge point operators, driven by both new entrants and established energy companies, presents a promising area for growth.

As the EV sector scales, significant investments will be required not only in vehicles but also in the infrastructure that supports them. Battery-swapping technology is gaining momentum, offering faster solutions for consumers and further encouraging adoption.

20+ New Electric Vehicles Coming to Boost India’s EV Sales by 2027!

By
Sayonjit Roy
-
0
electric vehicle

With recent policy reforms intended to boost its growth, India’s electric vehicle (EV) sector is at a critical juncture. Industry executives have praised the Delhi government’s decision to bring back EV subsidies. In an exclusive interview with CNBC-TV18, Veejay Nakra, President of Automotive at Mahindra & Mahindra, praised the action, stating that “Electric vehicles are the destination technology for the country, and this policy will go a long way in helping enhance the EV penetration in Delhi.”

According to Nakra, the adoption of EVs in India is still in its infancy, having started in 2018. On the other hand, over 10 years of concentrated efforts have been made in international markets with higher EV penetration, which is frequently in the double digits. He emphasized the critical role of government programs like the Production Linked Incentive (PLI) program, investments in charging infrastructure, and FAME (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) phases I, II, and III, which have been in place for the past five years.

According to Nakra, the small selection of electric vehicles on the market has an impact on India’s EV adoption, which is currently at around 2.5% in the passenger car segment. Many modern EVs are converted internal combustion engine (ICE) cars, which are typically 25–30% more expensive than their ICE counterparts. In order to pique public interest, he emphasized the significance of launching “born electric” vehicles that are particularly made to be EVs, like electric SUVs. In a significant move for the sector, he disclosed that 23 new electric SUVs are anticipated to be introduced in India by 2027.

Tata Curvv EV

What are India’s Electric Vehicle Giants Saying?

EY India Partner Som Kapoor emphasized that consumption is a major factor in EV adoption. He noted that high-usage vehicles like buses, three-wheelers, and two-wheelers should take precedence over passenger automobiles. These segments are frequently used for business applications, such as delivery and transportation, where longer vehicle usage periods guarantee a higher return on investment.

“The real turning point will occur between charging infrastructure, safety, and product availability,” stated Kapoor. Let it run for another 12 to 18 months to determine when you reach inflection.

Co-founder of Yulu Bikes RK Misra voiced his displeasure with India’s inconsistent electric vehicle laws. He praised FAME-I for its wider reach but criticized later stages, pointing out that fleet operators, who have a major positive impact on the environment and the economy, are frequently disregarded.

Commercial fleets that are used twelve hours a day, such as delivery trucks and taxis, offer more value than individual vehicles, which are usually used for just one hour each day, according to Misra. He also drew attention to the fact that many incentive programs do not include low-speed EVs, which are frequently utilized in delivery services.

Given Delhi’s high pollution levels, Misra questioned why the city’s EV policy had lapsed before being revived, highlighting the lack of clarity and long-term planning in EV regulations. He said that merely prolonging programs through March 2025 breeds doubt and erodes public trust. According to Yulu Bikes’ co-founder, “if the policy is there, it has to be meaningful and consistent, and that can only happen when you go for mass adoption.”

Exide’s ₹100 Crore EV Battery Investment: A Game Changer!

By
Dhrubajyoti Dutta
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Exide's ₹100 Crore EV Battery Investment

Exide’s ₹100 Crore EV Battery Investment: A Game Changer!

In a bold move to solidify its foothold in the rapidly expanding electric vehicle (EV) market, Exide Industries, India’s leading battery manufacturer, has announced a significant investment of ₹100 crore in its EV battery subsidiary, Exide Energy Private Limited. This strategic investment underscores Exide’s commitment to advancing battery technology and supporting the Indian government’s ambitious goals for electric vehicle adoption.

A Legacy of Innovation

Exide's ₹100 Crore EV Battery Investment
Exide’s ₹100 Crore EV Battery Investment

With over 70 years of experience in battery manufacturing, Exide Industries has established itself as a pioneer in the industry. As the demand for electric vehicles surges, the company is doubling down on research and development to create innovative battery solutions that meet the needs of modern EVs. This latest investment is a testament to Exide’s proactive approach in adapting to the evolving automotive landscape.

Supporting India’s EV Vision

The Indian government has set an ambitious target of achieving 30% electric vehicle penetration by 2030. To facilitate this transition, various incentives have been introduced, including subsidies for both EV manufacturers and consumers. Exide Industries is strategically positioned to leverage these opportunities, enhancing its capabilities in designing, developing, and manufacturing advanced lithium-ion batteries specifically for electric vehicles.

Exide's ₹100 Crore EV Battery Investment
Exide’s ₹100 Crore EV Battery Investment

According to a statement from Exide Industries, the funds will be directed towards enhancing the company’s technological capabilities, ensuring that it remains at the forefront of the EV battery market. This investment aligns with the government’s vision of promoting sustainable transportation and reducing carbon emissions.

Exide's ₹100 Crore EV Battery Investment
Exide’s ₹100 Crore EV Battery Investment

Strengthening Industry Partnerships

Exide Industries has already forged partnerships with several prominent EV manufacturers in India, including Tata Motors and Mahindra & Mahindra. These collaborations are crucial as they allow Exide to integrate its battery solutions into a variety of electric vehicles, further solidifying its position in the market. With this new investment, Exide aims to deepen these partnerships and expand its reach within the growing EV ecosystem.

Insights from Leadership

Gautam Chatterjee, Managing Director of Exide Industries, emphasized the significance of this investment, stating, “Our investment in Exide Energy Private Limited demonstrates our commitment to supporting the growth of the EV market in India. We believe that our advanced lithium-ion battery technologies will play a critical role in enabling the widespread adoption of EVs in the country.” This forward-thinking approach highlights Exide’s dedication to innovation and sustainability.

A Vision for the Future

Exide Industries is not just a leader in lead-acid batteries; it is actively expanding its operations in lithium-ion battery production. The company is developing a gigafactory for lithium-ion cells in Bengaluru, aimed at scaling up production for both mobility and stationary applications. This facility will play a pivotal role in meeting the increasing demand for high-performance batteries in the EV sector.

Exide's ₹100 Crore EV Battery Investment

With a strong focus on sustainability and innovation, Exide continues to lead the battery industry in India while supporting the country’s transition towards renewable energy and clean transportation solutions. The investment in Exide Energy Private Limited marks a significant step forward in the company’s strategy to become a dominant player in the Indian EV market.

Honda Activa E vs Ather 450S: Which one Offers the Best Value?

By
Dhrubajyoti Dutta
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Honda Activa E vs Ather 450S

Honda Activa E vs Ather 450S: Which One Offers the Best Value?

The electric scooter market in India is heating up, and Honda Motorcycle & Scooter India Pvt. Ltd. (HMSI) is making a significant entry with the all-new Honda Activa E. This electric version of the beloved Activa scooter is set to compete with established players like the Ather 450S. In this blog post, we’ll dive deep into a comparison of these two electric scooters, examining their performance, features, and pricing to determine which one offers the best value for money.

Design and Looks

Honda Activa E

The Honda Activa E retains the classic charm of the original Activa while introducing modern upgrades. It features stylish LED lighting for both the headlamp and taillamp, giving it a contemporary look. The scooter is built on a new platform, equipped with 12-inch wheels and a telescopic suspension at the front, complemented by a rear mono-shock for a smooth and comfortable ride.

Honda Activa E vs Ather 450S
Honda Activa E vs Ather 450S: Which one Offers the Best Value?

Ather 450S

In contrast, the Ather 450S boasts a sporty design inspired by motorsport aesthetics. Its all-aluminum frame ensures durability while keeping the scooter lightweight and easy to manoeuvre. The apron-mounted LED headlight provides excellent visibility, and the integrated turn indicators enhance its sleek, streamlined appearance.

Honda Activa E vs Ather 450S
Honda Activa E vs Ather 450S: Which one Offers the Best Value?

Also Read: EV Loan Guide: Get the best Car Loan Interest rates from all Banks in one place!

Specifications

SpecificationsHonda Activa EAther 450S
Battery1.5 kWh * 2 (Swappable)2.9 kWh
MotorPMSM Direct Drive6.4 kW
Range102 km115 km
Peak Power6 kW5.4 kW
Max Torque22 Nm26 Nm
Top Speed80 km/h90 km/h
Acceleration (0-60 km/h)7.3 seconds3.9 seconds
Riding ModesEco/Standard/SportSmart Eco/Eco/Ride/Sport

The Honda Activa E comes with a 3-year or 50,000 km warranty, including three free services in the first year. Additionally, Honda offers complimentary roadside assistance for the first year. The Ather 450S features a standard battery warranty of 3 years or 30,000 km, extendable to 8 years or 80,000 km with the Eight70 Pro add-on.

Features

Honda Activa E Features

The Activa E is equipped with three riding modes—Eco, Standard, and Sport—which can be accessed through a 5-inch LCD on the QC1 variant. The top-tier Activa E Roadsync Duo trim features a 7-inch TFT screen that enables advanced functionalities such as turn-by-turn navigation, music and call management, and compatibility with over-the-air (OTA) updates. A smart key fob adds convenience with features like Smart Lock and Smart Locate.

Ather 450S Features

The Ather 450S features a cutting-edge DeepView display, an industry-first 18-segment EBN display designed for exceptional visibility in all lighting conditions. Powered by an 800MHz processor, it offers smooth performance with 8GB of internal storage and 1GB RAM for efficient multitasking. The scooter is equipped with dual disc brakes for superior stopping power and safety, along with a fall-safe alert system. Additional features include an Emergency Stop Signal (ESS), park assist, and an auto-hold feature for added convenience.

Also Read: Electric Vehicles Sales Breakup in India as of October 2024

Color Options

Honda Activa E Colors

The Honda Activa E is available in five attractive colors:

  • Pearl Serenity Blue
  • Matt Foggy Silver Metallic
  • Pearl Misty White
  • Pearl Shallow Blue
  • Pearl Igneous Black
Honda Activa E vs Ather 450S
Honda Activa E vs Ather 450S: Which one Offers the Best Value?

Ather 450S Colors

The Ather 450S comes in four stylish colors:

  • Cosmic Black
  • Still White
  • Salt Green
  • Space Grey
image 3 png Honda Activa E vs Ather 450S: Which one Offers the Best Value?
Honda Activa E vs Ather 450S: Which one Offers the Best Value?

Pricing in India

Honda Activa E Pricing

While Honda has yet to announce the official pricing for the Activa E, sources suggest it could range between ₹1 lakh to ₹1.20 lakh. Both the Activa E and QC1 are expected to launch in spring 2025, with pricing details anticipated in January.

Ather 450S Pricing

The Ather 450S is priced starting at ₹1,15,599, with a financing option available through Flexipay at ₹2,475 per month.

Ultraviolette’s Shocking Plan for EV: 30% Revenue from Exports!

By
Dhrubajyoti Dutta
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0
Ultraviolette EV

Ultraviolette’s Shocking Plan for EV: 30% Revenue from Exports!

In an exciting development for the electric vehicle (EV) industry, Ultraviolette Automotive, a Bengaluru-based start-up, a Bengaluru-based start-up, is setting ambitious goals for its future. The company, known for its innovative electric motorcycles, aims to generate 30% of its revenue from exports within the next three years. This strategic move comes on the heels of receiving global certification for its flagship model, the F77 Mach2, which is now approved for road use in 40 countries.

Ultraviolette's EV
Ultraviolette Automotive

Global Expansion Plans for Ultraviolette

Narayan Subramaniam, CEO and co-founder of the company, shared insights into the company’s growth strategy during a recent interaction. The start-up, backed by notable investors such as TVS Motor, Zoho, Qualcomm, and GoFrugal Technologies, plans to kick off its export operations by January/February 2025. The initial markets targeted for expansion include Turkey, Germany, Spain, France, and Italy.

“We conducted testing and roadshows in select European markets, and last month we received the global certification L3e for our F77 Mach2 bikes,” Subramaniam stated. “We expect that 30% of our sales revenue will come from exports in three years.”

Ultraviolette’s Shocking Plan for Expanding the Product Portfolio

Ultraviolette is not just focusing on exports; the company is also committed to expanding its product lineup. Subramaniam revealed that the R&D team is actively developing new models across various segments, including sports, street, cruiser/roadster, adventure, and scrambler bikes. This diversification aims to cater to a broader audience and enhance the brand’s presence in the competitive EV market.

Ultraviolette Automotive
Ultraviolette Automotive

Production Capacity and Future Goals

Since launching its retail operations in select Indian cities in April 2024, Ultraviolette has successfully sold over 1,000 bikes. The company’s manufacturing facility in Bengaluru Electronics City currently has a production capacity of 30,000 bikes per year, with plans to ramp up production to 1,000 units per month in a single shift. Subramaniam expressed optimism about reaching full capacity by 2027, especially as the company expands into more Indian cities.

“We are adequately capitalized for the time being and expect to achieve breakeven by mid-2025,” he added. To support future growth, Ultraviolette is scouting for land in Tamil Nadu, Andhra Pradesh, Karnataka, and Maharashtra to establish new manufacturing facilities.

Ultraviolette Automotive

Enhancing Customer Experience

In a bid to enhance customer engagement, the EV company recently opened an Experience Centre in Chennai, with plans to launch additional centres in Coimbatore, New Delhi, and Mumbai next month. Currently, the company operates seven Experience Centres and aims to expand this number to 30 by March 2025. These centres will provide potential customers with hands-on experiences of Ultraviolette’s electric motorcycles, further solidifying the brand’s presence in the market.

As Ultraviolette Automotive gears up for an exciting future, its commitment to innovation, expansion, and customer experience positions it as a formidable player in the electric vehicle landscape. With ambitious export goals and a diverse product lineup on the horizon, Ultraviolette is poised to make a significant impact in both domestic and international markets. Stay tuned for more updates on this dynamic EV start-up!

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