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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
idfclogo EV Loan Guide: Get the best Car Loan Interest rates from all Banks in one place!7.49%Click here
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punjablogo EV Loan Guide: Get the best Car Loan Interest rates from all Banks in one place!6.75%Click here

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?

India’s EV Market Set to Hit ₹20 Lakh Crore by 2030

By
Sudeshna Ghosh
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0
India's EV Market

India’s EV market to hit ₹20 lakh crore by 2030 creating 5 crore jobs, says Nitin Gadkari. Battery costs drop 66% fueling explosive growth. Union Minister Nitin Gadkari declared India’s EV market has potential to reach ₹20 lakh crore by 2030, creating five crore new jobs, signaling unprecedented economic transformation through sustainable mobility.

The numbers paint an explosive growth trajectory. Currently, 57 lakh EVs are registered in India, with EV car sales increasing 20.8% compared to petrol-diesel’s 4.2%. Two-wheelers lead adoption with 33% growth, while three-wheelers surge 18%—dramatically outpacing conventional vehicles across all segments.

India's EV Market

EV Market Battery Revolution Fuels Growth

Technology advances underpin market optimism. Lithium-ion battery costs plummeted from USD 150 per kilowatt-hour to USD 55 per kilowatt-hour, transforming EV economics fundamentally. This three-fold reduction eliminates traditional price barriers deterring mass adoption.

Domestic resources strengthen India’s position. Jammu and Kashmir’s 6 million tonnes of lithium reserves represent six percent of global total, positioning India strategically for battery self-sufficiency. The Mining Ministry actively develops extraction frameworks supporting Atmanirbhar Bharat ambitions.

Employment Explosion Expected

The economic ripples extend far beyond manufacturing. The entire EV ecosystem will create approximately five crore jobs by 2030, with EV finance market reaching ₹4 lakh crore. This encompasses manufacturing, charging infrastructure, battery production, and ancillary services.

Gadkari’s vision addresses critical national challenges. India imports fossil fuels worth ₹22 lakh crore annually, creating economic burden and pollution. Electric mobility directly tackles both issues while supporting renewable energy integration—currently 44% of India’s power basket.

Infrastructure Gaps Remain

Despite promising trajectories, challenges persist. India needs one lakh electric buses but current capacity stands at 50,000. Gadkari urged manufacturers expanding production capacity without quality compromises.

The charging infrastructure continues expanding, with 16,000 operational stations and 2,800 under development. However, meeting 2030 targets requires accelerated deployment matching vehicle adoption rates.

Startup Ecosystem Thrives

Entrepreneurial energy transforms the sector. Over 400 startups have emerged in the electric two-wheeler market, increasing 21% from 2024. This innovation explosion drives competition, improves technology, and expands consumer choices across price points.

Manufacturers across segments aggressively expand electric portfolios. Tata, Mahindra, and emerging players race launching affordable EVs targeting mass market penetration, while government policies maintain favorable taxation supporting adoption momentum.

India's EV Market

Global Implications

India’s automotive sector achieved remarkable milestones. Industry size expanded from ₹7 lakh crore in 2014 to ₹22 lakh crore currently, surpassing Japan as world’s third-largest. Electric mobility acceleration could propel India challenging China’s dominance through technological excellence and manufacturing scale.

FAQs:

What is the projected value of India’s EV market by 2030?

Union Minister Nitin Gadkari projects India’s electric vehicle market will reach ₹20 lakh crore by 2030, creating five crore jobs across the entire EV ecosystem.

How many electric vehicles are currently registered in India?

Currently, 57 lakh electric vehicles are registered across India, with EV sales growing significantly faster than conventional petrol-diesel vehicles in 2024-25.

Why are lithium reserves in J&K important for India’s EV sector?

Jammu and Kashmir holds 6 million tonnes of lithium reserves—six percent of global reserves—critical for domestic battery manufacturing and reducing import dependency.

Servotech Stock Surges: Solar-EV Play Rewards Investors

By
Sudeshna Ghosh
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0
Servotech

Servotech Power Systems stock surges on ₹31 crore solar contract win. Discover why this EV-solar play is attracting investor attention in 2024. That’s exactly what happened to Servotech Power Systems shareholders as the stock surged 5% to ₹169.40 on December 30, 2024 Liquide Blog, capping off a remarkable year for India’s renewable energy sector.

Servotech

Servotech: Government Contract Powers Rally

The rally wasn’t fueled by speculation—it was driven by solid fundamentals. Servotech secured a ₹31 crore contract from Uttar Pradesh New and Renewable Energy Development Authority (UPNEDA) to deploy 1,100 grid-connected agriculture pumps under the Kusum Component C-1 Scheme Liquide Blog. This isn’t just another deal; it’s validation of Servotech’s position in India’s accelerating energy transition.

The timing couldn’t be better. With India’s EV charging infrastructure expanding from 29,000+ stations nationwide and solar adoption accelerating, Servotech sits at the intersection of two booming sectors.

Financial Performance Tells Compelling Story

Beyond headlines, the numbers reveal why investors are paying attention. For the September quarter of FY 2024-25, Servotech reported consolidated net profit of ₹11 crore—more than threefold from ₹3 crore in the same period last year. Revenue surged to ₹200 crore from ₹86 crore year-over-year Liquide Blog.

Even more impressive? In the December 2024 quarter, net profit skyrocketed 617% to ₹7.96 crore, while sales jumped 316% to ₹216.30 crore Jmfinancialservices.

Strategic Rebranding Signals Future Focus

The company recently rebranded from Servotech Power Systems Limited to Servotech Renewable Power System Limited in December 2024 Yahoo FinanceMotilal Oswal, signaling laser focus on clean energy solutions. This isn’t cosmetic—it’s strategic positioning as India races toward its ambitious renewable energy targets.

Servotech’s diversified portfolio spans EV charging solutions, solar products, LED lighting, and power backup systems. With favorable EV taxation policies keeping the 5% GST rate on electric vehicles, demand for charging infrastructure continues accelerating.

image 66 Servotech Stock Surges: Solar-EV Play Rewards Investors

What This Means for Investors

The renewable energy sector in India isn’t just growing—it’s exploding. As affordable EV options proliferate and charging infrastructure becomes ubiquitous, companies like Servotech providing critical hardware stand to benefit enormously.

However, investors should note market volatility. While Servotech’s fundamentals look strong, renewable energy stocks can experience significant fluctuations based on policy changes and competition.

For those already holding Servotech shares, this rally validates your thesis. For potential investors, the renewable energy opportunity in India remains compelling, though due diligence on valuations is essential given the recent price appreciation.

Check the latest Servotech stock updates and stay informed about India’s evolving EV landscape at IndiaEVNews.com.

FAQs:

Q1: Why did Servotech Power Systems stock surge recently?

The stock gained momentum following a ₹31 crore government contract for 1,100 solar-powered agriculture pumps, coupled with strong financial performance showing 617% profit growth in December 2024 quarter.

Q2: What does Servotech manufacture?

Servotech produces EV charging solutions (AC and DC chargers), solar products (inverters, panels, batteries), LED lighting, power backup systems, and recently developed patented technology for charging compatibility.

Q3: Is Servotech a good investment for clean energy exposure?

Servotech offers diversified exposure to India’s solar and EV sectors with improving financials. However, investors should conduct thorough research, consider market volatility, and assess valuations before investing.

Meta Description: Servotech Power Systems stock surges on ₹31 crore solar contract win. Discover why this EV-solar play is attracting investor attention in 2024.

MG Select Hits 1,000 EV Sales: Luxury Goes Electric

By
Sudeshna Ghosh
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0
MG

MG Select crosses 1,000 luxury EV sales, securing second place in India’s premium segment with innovative Windsor EV leading 125% growth surge. Imagine walking into a dealership where luxury meets sustainability, where premium craftsmanship doesn’t compromise on environmental responsibility. That’s exactly what MG SELECT, the company’s luxury retail channel, has achieved—surpassing the 1,000-unit sales milestone since its launch and securing the second position in India’s luxury EV segment.

MG

Premium Push Pays Off

While most automakers chase volume in India’s mainstream market, JSW MG Motor India made a calculated bet on luxury electric mobility. The gamble is paying dividends. In November 2025, the automaker reported 32% year-to-date wholesale growth for January-November 2025, selling 5,754 units in November alone.

But here’s the remarkable part: MG’s three EVs together accounted for over 70% of its overall sales volumes of 7,516 units in December 2024, marking its best-ever EV sales month. The Windsor EV, in particular, has become a phenomenon.

Windsor Effect Powers Growth

The MG Windsor EV, unveiled in September with starting prices at ₹13.49 lakh, has captivated buyers with innovative features including lounge-like seating and a lifetime battery warranty. The results speak volumes—in the final three months of 2024 alone, the Windsor EV surpassed wholesales of 10,000 units, accounting for 49% of MG’s total sales during this period.

This success mirrors broader trends in India’s luxury EV market evolution, where premium features increasingly attract discerning buyers.

Market Share Surge

The numbers reveal MG’s dramatic transformation. Total EV sales of 21,464 units in 2024 represent a 125% jump from 2023’s 9,523 units, catapulting market share from 11% to 21%—securing the No. 2 spot behind Tata Motors.

What’s driving this surge? Innovation, primarily. MG’s Battery-as-a-Service (BaaS) program has democratized premium EV ownership. Under this flexible model, the Windsor is available at ₹9.99 lakh plus battery rental, dramatically lowering entry barriers while maintaining quality.

The strategy complements India’s expanding EV charging infrastructure, making electric mobility increasingly practical nationwide.

Aggressive Expansion Strategy

MG isn’t stopping at metros. The company is aggressively expanding its sales network, focusing on Tier 3 and Tier 4 cities and rural markets, with plans to establish 520 touchpoints in 270 cities by March 2025.

This mirrors the democratization happening across India’s EV landscape, from affordable city EVs to premium offerings, creating opportunities for every buyer segment.

image 63 MG Select Hits 1,000 EV Sales: Luxury Goes Electric

What This Signals

MG SELECT’s success validates a crucial hypothesis: Indian consumers are ready for premium electric mobility when value proposition aligns with aspirations. With upcoming launches at the Bharat Mobility Expo and continued innovation, MG is positioning itself as India’s premium EV champion.

For buyers, this competition means better products, more choices, and aggressive pricing. For the industry, it signals that India’s EV market has matured beyond basic transportation—luxury and sustainability can coexist profitably.

Stay updated on India’s luxury EV evolution at IndiaEVNews.com and discover how premium electric mobility is reshaping Indian roads.

FAQs:

Q1: What is MG SELECT and why is the 1,000-unit milestone significant?

MG SELECT is MG Motor India’s luxury retail channel specializing in premium EVs. Crossing 1,000 sales confirms strong demand for luxury electric vehicles and establishes MG as the second-largest player in India’s luxury EV segment.

Q2: Which MG electric vehicles are driving sales growth?

The Windsor EV leads with 49% of total sales, followed by the ZS EV and Comet EV. Together, these three models account for over 70% of MG’s overall sales, with the Windsor achieving 10,000+ units in just three months post-launch.

Q3: How is MG making luxury EVs more affordable?

Through its innovative Battery-as-a-Service (BaaS) program, which separates battery cost from vehicle price. The Windsor EV starts at ₹9.99 lakh plus battery rental, significantly reducing upfront costs while offering premium features like lifetime battery warranty.

Ultraviolette Raises $45M: Electric Motorcycle Boom

By
Sudeshna Ghosh
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0
Ultraviolette Raises $45M

Ultraviolette secures $45M from Zoho and Ferrari-owner Exor’s Lingotto, accelerating India’s electric motorcycle revolution with F77 and X-47 models. A homegrown Indian electric motorcycle startup securing backing from tech giant Zoho and Ferrari-owner Exor’s investment arm. That’s not science fiction—that’s exactly what happened when Ultraviolette raised $45 million from Zoho Corporation and Italy-based investment firm Lingotto as part of its ongoing Series E funding round.

Ultraviolette Raises $45M

Ultraviolette: Global Giants Bet on Indian Innovation

This isn’t just another funding announcement. The investment was driven by Sridhar Vembu, Mani Vembu, and Kumar Vembu from Zoho, while Lingotto is known in Europe for backing well-established global brands. When the investment arm of Ferrari’s parent company invests in an Indian electric motorcycle maker, it signals something profound about India’s EV potential.

The timing couldn’t be more strategic. India’s electric two-wheeler revolution is accelerating rapidly, with favorable government policies including the 5% GST rate on EVs providing tailwinds for manufacturers.

Aggressive Expansion Strategy

Ultraviolette’s growth trajectory reads like a startup fairytale. The company has expanded to 30 cities across India within just 12 months and plans to reach 100 cities by mid-2026. Internationally, the F77 electric motorcycle was recently launched in the United Kingdom, and Ultraviolette now has presence in 12 European countries.

The fresh capital will be used to scale up the company’s two existing models—the F77 electric sports bike and the recently launched X-47 crossover motorcycle—while also advancing upcoming product platforms codenamed Shockwave and Tesseract.

Technology-First Approach

What sets Ultraviolette apart in India’s crowded two-wheeler market? Pure performance DNA. Co-founder and CEO Narayan Subramaniam explained: “Lingotto’s legacy of backing iconic performance and mobility brands, combined with Zoho’s long-term commitment to fostering cutting-edge Indian innovation, aligns perfectly with Ultraviolette’s mission to build category-defining electric mobility solutions”.

CTO Niraj Rajmohan added: “With the ongoing Series E investments, we are doubling down on growth and expanding production. Our focus is on advancing breakthrough battery technology and elevating performance capabilities”.

This technology-first approach mirrors broader industry trends, as seen in India’s expanding EV charging infrastructure supporting performance electric vehicles.

Market Momentum Building

Ultraviolette recently launched the X-47 crossover electric motorcycle, which has recorded rising demand across India. For a company that started with one model less than four years ago, this expansion trajectory is remarkable.

The momentum extends beyond just domestic markets. With European certification achieved and operations spanning 12 countries, Ultraviolette is positioning itself as India’s first global electric motorcycle brand—a title no Indian two-wheeler manufacturer has seriously contested until now.

Ultraviolette Raises $45M

What This Means for India’s EV Future

Ultraviolette’s success validates a crucial hypothesis: Indian startups can compete globally in high-performance electric mobility. With India’s EV market projected to hit ₹20 lakh crore by 2030, companies combining performance, technology, and Indian engineering are attracting serious global capital.

For riders, this competition means better products, improved battery technology, and expanded charging networks. For the industry, it signals India has graduated from being just a market to becoming a hub for electric mobility innovation.

FAQs:

Q1: Why is Ultraviolette’s $45 million funding significant?

The funding from Zoho and Lingotto (Ferrari-owner Exor’s investment arm) validates India’s electric motorcycle potential. Lingotto’s backing of performance brands globally signals confidence in Ultraviolette’s technology and global ambitions beyond just the Indian market.

Q2: What products does Ultraviolette currently offer?

Ultraviolette manufactures two electric motorcycles: the F77 electric sports bike and the recently launched X-47 crossover. The company is developing two future platforms codenamed Shockwave and Tesseract, scheduled for upcoming releases.

Q3: How fast is Ultraviolette expanding operations?

Ultraviolette expanded to 30 cities across India within 12 months and plans to reach 100 cities by mid-2026. Internationally, the F77 launched in the UK and is now available across 12 European countries, marking India’s first serious global electric motorcycle brand.

Meta Description: Ultraviolette secures $45M from Zoho and Ferrari-owner Exor’s Lingotto, accelerating India’s electric motorcycle revolution with F77 and X-47 models.

Bengaluru Highways Add 149 New EV Charging Stations

By
Sudeshna Ghosh
-
0
Bengaluru Highways Add 149 New EV Charging Stations

Imagine cruising from Bengaluru to Mysuru in your electric vehicle, never once worrying about finding a charging station. That reality just got significantly closer as state-run oil marketing companies—IOCL, BPCL, and HPCL—have installed 236 EV charging stations along four major South India corridors, with 149 installed and 87 fully commissioned.

Bengaluru Highways Add 149 New EV Charging Stations

Strategic Highway Deployment

The infrastructure buildout targets Bengaluru’s most critical arteries. The Bengaluru–Pune Highway (NH-48) leads with 109 chargers, followed by the Bengaluru–Hyderabad Highway with 64 stations, the Bengaluru–Mysuru Expressway with 33, and the Bengaluru–Chennai Expressway with 30.

This strategic deployment addresses the biggest psychological barrier to EV adoption—range anxiety. For years, potential buyers hesitated at the thought of being stranded on highways. That fear is rapidly becoming obsolete.

The expansion builds on Karnataka’s leadership position as India’s EV infrastructure champion, where the state already commands 6,097 charging stations—more than any other Indian state.

Silicon Valley Gets Electric Backbone

Bengaluru’s nickname as India’s Silicon Valley isn’t just about tech companies anymore. According to reports, Bengaluru had approximately 273,000 EVs and 5,880 charging stations in April 2025, with projections suggesting over 2.3 million EVs plying its roads by 2030.

These highway chargers complement the city’s urban infrastructure, creating seamless connectivity for both daily commuters and long-distance travelers. The affordable EV options hitting Indian roads now have the infrastructure backbone needed for mass adoption.

Zero-Emission Trucking on Horizon

Here’s where it gets exciting for commercial transportation. The Bengaluru–Chennai Corridor has been identified for Zero-Emission Trucking, with inputs from the Office of the Principal Scientific Advisor indicating that a comprehensive readiness assessment of national corridors for Zero-Emission Trucks (ZETs) has been completed.

This signals India’s ambition extends beyond passenger vehicles into heavy-duty commercial transport—a sector responsible for significant emissions.

Private Sector Invited

The government isn’t monopolizing infrastructure development. Following the Ministry of Power’s guidelines issued on September 17, 2024, private companies are free to set up EV charging stations as an unlicensed activity.

This policy shift mirrors India’s broader EV charging revolution, where public-private partnerships are accelerating deployment timelines and improving service quality.

Bengaluru Highways Add 149 New EV Charging Stations

What This Means for EV Adoption

The highway charging network eliminates the final major barrier for fence-sitters. Combined with favorable 5% GST rates on EVs, improving vehicle technology, and expanding model choices, electric mobility in Karnataka is reaching an inflection point.

For Bengaluru residents planning weekend getaways to Mysuru’s palaces, Pune’s hills, or Chennai’s beaches, range anxiety is officially obsolete. The electric highway network ensures you’ll never be far from a charge point.

Stay updated on Karnataka’s EV infrastructure expansion at IndiaEVNews.com and explore the latest charging station locations via Ministry of Power guidelines.

FAQs

Q1: How many EV charging stations are now available on Bengaluru highways?

A total of 236 EV charging stations have been installed across four major highways connecting Bengaluru—with 149 installed and 87 fully commissioned. The Bengaluru–Pune Highway leads with 109 chargers, making it the best-equipped corridor for electric vehicle travel.

Q2: Which highways connecting Bengaluru have EV charging infrastructure?

Four major corridors are equipped: Bengaluru–Pune Highway (NH-48) with 109 chargers, Bengaluru–Hyderabad Highway with 64 stations, Bengaluru–Mysuru Expressway with 33 chargers, and Bengaluru–Chennai Expressway with 30 charging points installed by IOCL, BPCL, and HPCL.

Q3: Can private companies also install EV charging stations on highways?

Yes, following Ministry of Power guidelines issued on September 17, 2024, private companies are free to set up EV charging stations as an unlicensed activity, encouraging faster infrastructure expansion and improved service competition across highway networks.

Meta Description: Bengaluru’s 4 major highways get 236 EV charging stations from IOCL, BPCL, HPCL, with 149 installed across Pune, Hyderabad, Mysuru, and Chennai corridors.

China Floods World With Gas Cars as EVs Dominate Home

By
Sudeshna Ghosh
-
0

Picture this paradox: China’s domestic buyers are snapping up electric vehicles at record pace, yet the country is flooding global markets with millions of gasoline-powered cars. Welcome to the unintended consequence of the world’s most aggressive EV transition—where fossil-fuel cars made up 76% of China’s auto exports since 2020, with total shipments expected to exceed 6.5 million vehicles in 2024, up from just 1 million in 2020.

China Floods

The Domestic EV Revolution

At home, China’s transformation is staggering. Sales of traditional petrol and diesel-powered vehicles sank 17% in 2024, from 14 million to 11.6 million, while total vehicle sales reached 31.4 million—a 4.5% increase year-over-year. Electric vehicles, including plug-in hybrids, now command nearly half the market.

This mirrors global EV momentum, including India’s own electric revolution where affordable EV options and favorable tax policies are accelerating adoption.

Legacy Automakers’ Survival Strategy

Here’s the twist: China’s aggressive EV subsidies decimated demand for gasoline cars domestically, leaving legacy state-owned manufacturers with massive overcapacity. China’s factories have the capacity to build up to 30 million gasoline vehicles annually, far more than Chinese consumers are willing to buy.

Rather than shutting these politically sensitive facilities, companies like SAIC, BAIC, Dongfeng, and Changan are exporting gasoline vehicles en masse. Former Vice Minister of Industry Su Bo warned that the country’s combustion-engine sector faces “a critical survival crisis,” with exports serving as the only workable lifeline.

Where Are These Cars Going?

The bulk of China’s gasoline-car exports are flowing to Latin America, Africa, the Middle East, Southeast Asia, and Eastern Europe, where EV adoption remains low. In Poland, over 30 Chinese brands launched since 2023. In South Africa, Chinese brands captured around 16% of the market, selling nearly 30,000 gasoline cars but only 11 EVs in the first half of 2025.

The strategy is clear: dominate markets where charging infrastructure remains limited and gasoline vehicles still make practical sense.

Impact on Global Automakers

The surge is crushing traditional players twice—first in China, then globally. Foreign automakers such as Volkswagen and Nissan, which historically relied on strong demand in China, are scrambling to develop electric vehicles for the Chinese market. Honda and Nissan recently announced merger plans specifically to counter Chinese EV makers.

Meanwhile, these same companies face Chinese gasoline vehicles undercutting them in developing markets by thousands of dollars.

What This Means for India

India must watch this carefully. While building robust EV infrastructure and supporting domestic EV manufacturers, India also needs strategies to protect against potential flooding of cheap gasoline vehicles as Chinese makers seek export markets.

The lesson? Industrial policy has far-reaching consequences. China’s EV push succeeded domestically but created global gasoline car overcapacity—reshaping automotive competition in unexpected ways.

Stay updated on global EV market dynamics at IndiaEVNews.com and explore China Association of Automobile Manufacturers data for detailed insights.

FAQs

Q1: Why is China exporting gasoline cars if it’s going electric domestically? China’s aggressive EV subsidies caused domestic gasoline car sales to plunge 17% in 2024, leaving factories with massive overcapacity (up to 30 million units annually). Rather than closing politically sensitive facilities, manufacturers export gasoline vehicles to developing markets where EV infrastructure remains limited.

Q2: Which countries are receiving Chinese gasoline car exports? Latin America, Africa, the Middle East, Southeast Asia, and Eastern Europe are primary destinations. In South Africa, Chinese brands sold 30,000 gasoline vehicles versus only 11 EVs in early 2025, highlighting infrastructure limitations in these markets.

Q3: How has China’s EV boom affected foreign automakers? Foreign brands like Volkswagen, Nissan, and Honda saw China sales collapse over 30% in five years as Chinese EV makers captured nearly 50% market share. This forced Honda-Nissan merger discussions and scrambling to develop competitive EVs for the Chinese market.

Meta Description: China exports 6.5M cars in 2024—76% are gasoline vehicles flooding global markets as domestic EV boom leaves legacy automakers with massive overcapacity.

Greaves Electric Mobility Strengthens Alt Mobility Partnership to Boost Commercial EV Leasing

By
Sudeshna Ghosh
-
0
Electric

ALT Mobility to deploy 700+ electric two-wheelers in Delhi & Bengaluru using Drive-to-Own model with battery-swapping for B2B fleets. Imagine a delivery partner starting their day without fuel cost worries, riding an electric scooter that’s affordable through innovative leasing—and actually earning ownership over time. That’s the future Greaves Cotton’s e-mobility arm Ampere just unlocked by partnering with electric vehicle leasing and fleet management company ALT Mobility to strengthen its play in the B2B segment.

Alt Mobility

Alt Mobility: Drive-to-Own Model Changes the Game

ALT Mobility currently operates more than 700 Ampere Magnus SW S vehicles across Delhi and Bengaluru and plans to expand the partnership with GEML in the coming months. But here’s what makes this partnership transformative: the Drive-to-Own model.

The Ampere Magnus SW S will be deployed under ALT Mobility’s Drive-to-Own model, ensuring gig riders, delivery partners, and fleet operators have accessible, cost-effective, and efficient access to zero-emission transport solutions.

This approach mirrors broader trends in India’s electric two-wheeler revolution, where innovative financing models are accelerating adoption among commercial users who depend on vehicles for livelihood.

Battery Swapping Solves Uptime Challenge

One critical innovation sets this deployment apart. The Ampere Magnus SW S—developed specifically for B2B needs—is being deployed in collaboration with Indofast Energy, a key partner providing energy infrastructure and battery-swapping solutions that enhance operational uptime and efficiency for fleets.

For delivery riders and fleet operators, downtime equals lost income. Battery swapping eliminates charging delays, ensuring vehicles stay productive throughout the day—critical for commercial viability.

17 Years of EV Expertise

Managing Director Vikas Singh emphasized the strategic importance: “GEML is committed to strengthening India’s B2B ecosystem by delivering reliable EV solutions to fleet operators and riders. Our partnership with ALT Mobility reflects our vision to build a future-ready B2B ecosystem where electric mobility is not just sustainable but also accessible and efficient”.

Backed by 17 years of EV expertise and manufactured at the advanced Ampere factory in Ranipet, the Magnus SW S is purpose-designed for cargo and passenger movement in India’s growing logistics and last-mile transport sectors.

IPO Plans Signal Growth Ambitions

The timing is strategic. Greaves Electric Mobility’s board approved an initial public offering (IPO) on December 1, 2024, subject to shareholder approval and regulatory clearances, signaling confidence in the B2B electric mobility market’s explosive growth potential.

What This Means for India’s EV Future

This partnership validates a crucial model: making commercial EVs accessible through innovative financing while solving operational challenges through battery swapping. As India’s EV infrastructure expands and manufacturers like Mahindra pursue aggressive electrification, B2B fleets will drive substantial adoption volumes.

For gig workers, delivery partners, and fleet operators, this represents real opportunity—affordable access to zero-emission vehicles with a path to ownership, backed by reliable infrastructure. That’s not just business strategy; that’s democratizing electric mobility.

Stay updated on India’s B2B EV revolution at IndiaEVNews.com and explore Greaves Electric Mobility innovations.

FAQs:

Q1: What is ALT Mobility’s Drive-to-Own model? ALT Mobility’s Drive-to-Own model allows gig riders, delivery partners, and fleet operators to lease Ampere electric scooters with payments structured so they eventually gain ownership—making EVs accessible without large upfront costs while providing a path to asset ownership.

Q2: How many Ampere vehicles is ALT Mobility currently operating? ALT Mobility currently operates more than 700 Ampere Magnus SW S vehicles across Delhi and Bengaluru, with plans to significantly expand the partnership with Greaves Electric Mobility in coming months across additional cities and use cases.

Q3: How does battery swapping benefit commercial EV operators? Battery swapping through partner Indofast Energy eliminates charging downtime by allowing instant battery exchanges. For delivery riders and fleet operators where time equals income, this ensures maximum operational uptime and productivity throughout the workday.

Meta Description: Ampere partners with ALT Mobility to deploy 700+ electric two-wheelers in Delhi & Bengaluru using Drive-to-Own model with battery-swapping for B2B fleets.

Anand Mahindra’s Humility: No Priority For The Boss

By
Sudeshna Ghosh
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0
Anand Mahindra's

Anand Mahindra’s humble response to product criticism goes viral, showcasing leadership philosophy behind Mahindra’s rise to India’s No. 2 automaker with BE 6e and XEV 9e EVs.
Picture this: The chairman of India’s second-largest passenger vehicle maker gets criticized publicly about his company’s products. How would most billionaire bosses react? With defensiveness? Legal notices? Radio silence? Anand Mahindra chose something refreshingly different—genuine humility and transparent acknowledgment.

Anand Mahindra's

Anand Mahindra: The Viral Exchange That Won Hearts

When an X user criticized Mahindra’s service quality and product designs after the BE 6e and XEV 9e launch, commenting that buyers “don’t study and research” and calling the designs “gobar kinda,” most expected corporate defensiveness.

Instead, Anand Mahindra responded: “You’re right, Sushant. We have a long way to go. But please consider how far we have come. When I joined the company in 1991, the economy had just been opened up. A global consulting firm strongly advised us to exit the car business since we had no chance, in their view”.

Harsh Goenka called it a “Masterclass in reacting to an irate customer”. The measured response revealed leadership philosophy rarely seen in corporate India—acknowledging criticism while highlighting journey over destination.

Mahindra’s Customer-First Philosophy

This humility isn’t performative. It’s embedded in Mahindra’s success story. When the new Thar launched in November 2020, waiting lists stretched for months. Buyers such as techies, women drivers, and families who had never considered the brand before queued for test drives.

The response validated Mahindra’s transformation from utility-first to desire-first brand—a shift requiring humble listening to market needs rather than imposing legacy perceptions.

Electric Revolution Built on Humility

Mahindra’s electric vehicle ambitions reflect similar philosophy. The company committed over ₹12,000 crore to its ‘Born Electric’ programme and developed the electric-origin INGLO platform that debuted with XEV 9e and BE 6e.

“We were convinced we needed a born-electric platform that would deliver a vehicle far better than one adapted from ICE vehicles,” says Group CEO Anish Shah. “That single decision turned an experiment into conviction”.

This willingness to start from scratch—abandoning the easier path of adapting existing platforms—demonstrates organizational humility at scale.

From No. 2 to Leader

The results speak volumes. M&M’s revenue rose from ₹74,277.78 crore in 2020–21 to ₹1,59,211 crore in 2024–25, while profit after tax from continuing operations quadrupled from ₹3,347 crore to ₹12,929 crore.

Mahindra overtook Hyundai to become India’s second-largest passenger vehicle maker—the first Indian manufacturer achieving this feat. The BE 6e and XEV 9e now lead India’s 500km+ range electric SUV revolution.

Leadership Lessons

Netizens were impressed: “It is heartening to see you take the criticism to fuel the hunger,” said one X user. “What a heart-warming reply Anand ji. Way to go. India needs to support such level-headed proprietors and brands with grit and iron will”.

In an era where corporate leaders often prioritize image over substance, Mahindra’s response offers a masterclass: genuine humility, transparent acknowledgment, and unwavering commitment to improvement beat defensive posturing every time.

Stay updated on Mahindra’s EV journey at IndiaEVNews.com and explore Mahindra’s electric SUV lineup.

FAQs

Q1: How did Anand Mahindra respond to criticism of Mahindra products? Anand Mahindra acknowledged the criticism gracefully, saying “You’re right…we have a long way to go” while highlighting the company’s journey from 1991 when consultants advised exiting the car business. His humble response went viral for demonstrating genuine leadership over corporate defensiveness.

Q2: What are Mahindra’s latest electric vehicles? Mahindra launched the BE 6e and XEV 9e electric SUVs built on the INGLO platform, offering over 500km range, 0-100 km/h in under 7 seconds, and fast charging from 20-80% in under 20 minutes with 175 kW chargers starting at ₹18.90 lakh and ₹21.90 lakh respectively.

Q3: How has Mahindra’s business grown recently? Mahindra’s revenue grew from ₹74,278 crore (2020-21) to ₹1,59,211 crore (2024-25) while profit quadrupled from ₹3,347 crore to ₹12,929 crore. The company overtook Hyundai to become India’s second-largest passenger vehicle maker, ending Hyundai’s 17-year hold on that position.

Meta Description: Anand Mahindra’s humble response to product criticism goes viral, showcasing leadership philosophy behind Mahindra’s rise to India’s No. 2 automaker with BE 6e and XEV 9e EVs.

Maruti Unveils ‘e for me’: 1 Lakh Chargers by 2030

By
Sudeshna Ghosh
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0
Maruti Unveils

Maruti Suzuki unveils unified ‘e for me’ EV charging platform targeting 1 lakh chargers by 2030. India’s top carmaker bets big on electric mobility infrastructure. India’s automotive giant just made electric vehicle ownership easier than ever. Maruti Suzuki has launched a unified EV charging platform that could reshape how millions of Indians charge their electric vehicles—and they’re backing it with an audacious target of 100,000 charging points by 2030 Business TodayRepublic World.

The announcement came alongside the unveiling of the e-Vitara, Maruti’s first electric SUV offering a claimed 543 km range EVMechanica—finally ending the wait for India’s most trusted carmaker to enter the EV segment. But what’s truly revolutionary isn’t just another electric vehicle; it’s the ecosystem Maruti is building around it.

Maruti Unveils

Maruti as One Platform, Endless Charging

Maruti has introduced ‘e for me’—a unified EV charging platform that consolidates the company’s own 2,000+ exclusive charging points across 1,100+ cities with networks from 13 Charge Point Operators Humans of EV. Think of it as the Unified Payments Interface (UPI) of EV charging—one app, multiple networks, zero hassle.

MD & CEO Hisashi Takeuchi revealed the company plans to position charging points every 5-10 km in the top 100 cities, alongside DC fast chargers on major highways EVreporter. For someone driving from Mumbai to Pune or Delhi to Jaipur, this infrastructure promises worry-free inter-city travel—something that’s been a major barrier to EV adoption.

The ₹250 Crore Investment

Maruti has invested approximately ₹250 crore towards establishing this charging infrastructure and developing the ‘e for me’ app Republic WorldBusiness Standard, signaling serious commitment beyond just selling cars. The platform integrates station discovery, digital payments, and even home-charger installation support—addressing ownership concerns from day one.

What makes this approach compelling is it’s dealer network advantage. With 1,500 service workshops being upgraded to EV-ready status, complete with specialized diagnostic tools and trained technicians EVMechanica, the company is creating India’s most extensive after-sales EV support system. They’re even deploying 500 mobile service vans for on-the-move assistance, particularly targeting non-metro regions where EV infrastructure remains sparse.

Why This Matters for India

India’s EV charging infrastructure has crossed 29,000+ stations, but availability remains uneven. It’s dealer-led expansion could accelerate penetration in Tier 2 and Tier 3 cities where commercial charging operators hesitate to invest.

Managing Director Takeuchi confidently declared, “We will be the leader in electric mobility in the country, and as a market leader, all our efforts will be to make EV adoption easier for all our customers” Business Today. This isn’t just corporate rhetoric—Maruti commands nearly 42% market share in India’s passenger vehicle segment, giving them unmatched reach.

The timing is strategic. With India’s favorable 5% GST rate on EVs remaining unchanged and the government’s ambitious electrification targets, Maruti is positioning itself to lead India’s EV transition. Their phased rollout aligns perfectly with Suzuki Motor Corporation’s global EV roadmap, with multiple electric models planned across different segments before 2030 EVMechanicaRepublic World.

image 53 e1764851957629 Maruti Unveils 'e for me': 1 Lakh Chargers by 2030

The Competition Heats Up

Maruti enters a space where Tata Motors has established early leadership and Mahindra is making bold moves with its Born Electric lineup. However, it’s mass-market expertise and trusted service network could prove to be game-changers. When families think “reliable car,” they think Maruti—that brand equity translates powerfully in EV adoption where service anxieties run high.

The e-Vitara, expected to launch in early 2026, will be the first to benefit from this ecosystem. With a 5-star Bharat NCAP safety rating and range exceeding 500 km, it’s poised to compete directly with established players while offering something they lack—India’s most extensive service footprint.

The Road Ahead

Building 100,000 charging points isn’t easy, but it’s dealer partnerships and CPO collaborations create multiple expansion pathways. As India’s EV charging revolution accelerates, integrated platforms like ‘e for me’ will determine which automakers succeed in converting ICE loyalists to electric evangelists.

FAQs:

Q1: When will Maruti Suzuki achieve 1 lakh charging points?

Maruti targets establishing over 100,000 public and semi-public charging points by 2030 through partnerships with dealers and 13 Charge Point Operators, supporting multiple EV launches planned before the decade’s end.

Q2: What is the ‘e for me’ platform?

‘e for me’ is Maruti’s unified EV charging ecosystem that integrates 2,000+ exclusive Maruti charging stations with partner CPO networks into a single app, enabling seamless charger discovery, digital payments, and home-charger installation support across India.

Q3: When will Maruti’s first EV launch in India?

The e-Vitara, Maruti’s debut electric SUV, is scheduled to launch in early 2026 with a certified range of up to 543 km, two battery pack options, and comprehensive charging infrastructure support through the ‘e for me’ platform.

Odisha Hits 2.19 Lakh EVs: Subsidy Success Story

By
Sudeshna Ghosh
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0
Odisha Hits 2.19 Lakh EVs

Odisha reports 2.19 lakh registered EVs with ₹340 crore subsidies disbursed. Transport Minister announces new EV policy coming soon. State leads India’s electric mobility revolution.Over 2.19 lakh electric vehicles are now silently gliding across the state, marking one of India’s most impressive regional EV adoption stories—and it’s all thanks to smart policy and generous incentives.

Transport and Commerce Minister Bibhuti Bhusan Jena dropped this bombshell in the State Assembly on Thursday, revealing numbers that showcase Odisha’s commitment to clean mobility isn’t just talk—it’s delivering results on the ground.

Odisha Hits 2.19 Lakh EVs

Odisha: The ₹340 Crore Bet That Paid Off

Here’s what makes Odisha’s story remarkable: the state government has disbursed incentives totaling ₹340.95 crore across different EV categories, essentially betting big on electric mobility—and winning. This isn’t mere spending; it’s strategic investment in cleaner air and sustainable transportation.

The financial muscle behind this transformation is impressive. Under the Odisha Electric Vehicle Policy 2021, buyers received substantial subsidies: up to ₹5,000 for two-wheelers, ₹12,000 for three-wheelers, and a whopping ₹1 lakh for four-wheelers. Add 100% road tax exemption and registration fee waivers, and you’ve got a deal that makes going electric irresistible.

Government Leads By Example

What truly distinguishes Odisha’s approach? The government isn’t just incentivizing citizens—it’s walking the talk. Various government departments and agencies have procured 680 electric vehicles, demonstrating leadership commitment that goes beyond policy documents.

This matters because when citizens see government vehicles going electric, it sends a powerful message: EVs aren’t experimental technology anymore; they’re mainstream transportation.

The Infrastructure Challenge

However, there’s a critical gap that needs addressing. Currently, only 12 EV charging stations are functional in Bhubaneswar—a number that seems inadequate for 2.19 lakh EVs statewide. This disparity highlights India’s broader challenge: vehicle adoption is outpacing charging infrastructure development.

The good news? Minister Jena informed the Assembly that a new Electric Vehicle Policy is in the works, with additional benefits to be announced once formally approved. If it’s track record with the 2021 policy is any indication, this updated framework could accelerate adoption further.

Regional Success Stories

The state’s EV revolution isn’t uniform—certain districts are leading the charge. While comprehensive district-wise data wasn’t disclosed Thursday, previous Assembly sessions revealed Khordha district as the frontrunner, housing the capital Bhubaneswar and its tech-savvy population eager to embrace electric mobility.

This aligns perfectly with India’s broader EV charging infrastructure expansion, where urban centers with 29,000+ charging stations nationwide are setting the pace for nationwide adoption.

Why This Matters For India

Odisha’s success offers a blueprint for other states struggling with EV adoption. The formula is straightforward: generous subsidies + tax exemptions + government fleet electrification = rapid consumer adoption. The state has proven that financial incentives work—when they’re substantial enough and consistently implemented.

With India’s favorable 5% GST rate on EVs remaining intact, combined with progressive state policies like Odisha’s, India’s electric mobility future looks increasingly promising. The question isn’t whether electric vehicles will dominate Indian roads—it’s how quickly.

The Road Ahead

As upcoming electric SUVs with 500+ km range from manufacturers like Tata and Mahindra enter the market, it’s robust incentive structure positions it perfectly to capitalize on this new wave of EVs. The state’s 2.19 lakh EVs represent just the beginning—not the destination.

For potential EV buyers in Odisha, the message couldn’t be clearer: the financial case for going electric has never been stronger. Between state subsidies, central government incentives, and manufacturers’ aggressive expansion plans, the stars are aligned for India’s electric mobility transformation—and it is leading the way.

FAQs:

Q1: How many electric vehicles are currently registered in Odisha?

Odisha has 2,19,677 electric vehicles registered and operational across the state as of December 2024, according to Transport Minister Bibhuti Bhusan Jena’s statement in the State Assembly.

Q2: What subsidies does Odisha offer for electric vehicle buyers?

The state has disbursed ₹340.95 crore in incentives under the Odisha EV Policy 2021, offering up to ₹5,000 for two-wheelers, ₹12,000 for three-wheelers, and ₹1 lakh for four-wheelers, plus 100% road tax and registration fee exemptions.

Q3: How many EV charging stations are available in Odisha?

Currently, 12 EV charging stations are functional in Bhubaneswar, with the state government working on a new Electric Vehicle Policy that will likely address infrastructure expansion and announce additional benefits.

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