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Electric Vehicle registration jumped by 130% in Maharastra last year

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March 11, 2023

According to the state economic survey released on Wednesday, Maharashtra recorded 1,00,750 battery electric vehicle (EV) registrations in 2022-23, a 130% increase from registrations in 2021-22. In 2021-22, 43,722 new EVs were registered in the state, while 7,544 new EVs were registered in 2020-21.

The Maharashtra government announced the Maharashtra Electric Vehicle Policy (2021) in 2021, with the goal of promoting faster adoption of electric vehicles in the state by 2025. The state’s nodal agency for developing vehicle charging infrastructure is the Maharashtra State Electricity Distribution Company Limited (Mahadiscom). The state has 26 electric vehicle charging stations, with 11 in Navi Mumbai, seven in Thane, five in Pune, and one each in Nagpur, Kolhapur, and Solapur. Mahadiscom is also putting in 36 more charging stations throughout the state.

Meanwhile, until January 1, 2022-23, Maharashtra saw a total of 3,15,90,000 new registrations of two-wheeler electric vehicles, a 5.5% increase over the 2,99,46,070 registrations reported in 2021-22.

Mumbai accounts for 8.3 percent of total registrations in the state. Mumbai experienced a 6% increase in two-wheeler electric vehicle registrations, with 2,653,290 new registrations in 2022-23, compared to 25,02,610 new registrations in 2021-22.

In the case of four-wheelers, Maharashtra saw 66,32,370 new registrations in 2022-23, a 7.3% increase over the 61,82,100 registrations in 2021-22. Mumbai accounts for 21.7 percent of this total. According to data from the economic survey, Mumbai saw 14,42,380 new four-wheeler vehicle registrations in 2022-23, a 6.1% increase from 13,58,840 in 2021-22.

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Ola tops electric two-wheelers sales chart with TVS coming second

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March 10, 2023

Despite the complicated situation surrounding the FAME-II schemes, registrations of electric two-wheelers (E2W) increased by nearly 1.7 percent month on month (MoM) to 65,675 units in February 2023, according to data available on the MoRTH Vahan portal.

According to Vahan data, the total number of electric two-wheelers sold last month was nearly double that of February 2022, at 35,709 units, and just a notch above the 64,595 units sold in January 2023. However, the figures are 15% lower than the highest monthly registrations of 77,094 units in October (festival month) 2022.

Among the country’s 100-odd (approximately) electric two-wheelers manufacturers registered on the Vahan portal, Ola Electric, TVS Motor, and Ather Energy are the top three players, accounting for 50% of total vehicle registrations in this category.

Ola Electric retained its top seller position, delivering 17,641 electric two-wheelers in February 2023. However, from 18,319 units registered in January, its registration numbers fell by nearly 4%.

The Bangalore-based startup recently expanded its e-scooter lineup by offering three different trims powered by 2kWh, 3kWh, and 4kWh battery packs for the S1 and S1 Air variants. Since September 2022, Ola Electric has led the sales charts after introducing affordable e-scooters and establishing experience centres across the country.

TVS Motor Company dethroned Ather Energy from second place in the retail sales rankings last month, selling 12,582 e-scooter units. From 10,450 units in January 2023, the company’s e-scooter registration increased by more than 20% MoM.

The Chennai-based automaker, which also sells petrol-powered motorcycles, announced that its iQube range of electric two-wheelers had its highest-ever monthly sales (dispatches to dealers) of 15,522 units in February 2023, up from 2,238 units in February 2022.

According to the OEM, the TVS iQube Electric is now available in over 100 cities and 200 touchpoints. For the fourth month in a row, the company sold more than 10,000 units and has a healthy order pipeline. Later this year, it will also begin shipping its flagship e-scooter, the iQube ST.

Ather Energy, which ranks third in sales, delivered 9,966 electric scooters in February 2023. Hero Electric, in fourth place, saw its sales drop 8.5 percent in February to 5,855 units from 6,399 units in January, owing primarily to the government’s withdrawal of FAME subsidies.

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Xiaomi solid-state battery technology is a Game Changer

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March 10, 2023

With the introduction of its latest Xiaomi solid-state battery technology for mobile devices and, more importantly, electric vehicles, the company has once again raised the bar for the industry. The company claims that its solid-state batteries have a 33% capacity increase over conventional lithium-ion batteries, with no safety concerns about puncture-related short circuits and fires.

The Chinese tech giant claimed to have made a significant breakthrough, achieving a massive 1,000 Wh/l energy density. That’s more than twice the energy density of most EVs which is currently around 450 Wh/l.

Xiaomi has achieved 1,000 Wh/L energy density with some of its prototype batteries, which is significantly higher than consumer-grade batteries currently available, according to the company’s Weibo account. The technology would allow Xiaomi 13 to offer a 6,000 mAh capacity in the same package size as the current market’s 4,500 mAh capacity.

The Xiaomi solid-state battery technology not only increases capacity but also has a number of advantages over traditional lithium-ion batteries.

In extreme cold, such as -20 degrees Celsius, Xiaomi claims that its solid-state batteries can provide up to 20% more power than lithium-ion batteries. This is especially important for users who live in cold climates and have been frustrated by their phone’s battery life dwindling in freezing temperatures.

Furthermore, the Xiaomi solid-state battery technology is safer than traditional lithium-ion batteries because it eliminates the risk of short circuits and fires caused by punctures. This is a significant benefit for users who have previously experienced battery-related safety concerns. Xiaomi, on the other hand, is not yet ready to mass-produce the solid-state batteries.

Companies like Xiaomi may need several years to transition their entire portfolio to solid-state batteries. Nonetheless, Xiaomi’s announcement of breakthrough Xiaomi solid-state battery technology is significant, and it represents a significant step forward in the industry’s development of more efficient and safer battery technology.

The real challenge, as is usually the case with cutting-edge technology, is producing those batteries at scale and making them economically viable. Xiaomi has a long way to go, but if it continues at its current rate, we could see a Xiaomi-made EV powered by a solid-state battery in the coming years.

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Volkswagen revises its sales plan for Europe

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March 9, 2023

Volkswagen Group has revised its EV sales target for its core VW passenger car brand in Europe. According to Thomas Ulbrich, head of VW brand’s New Mobility business unit for software and self-driving cars, the new goal is for at least 80% of the brand’s sales in Europe to be all-electric models by 2030.

The new target is significantly higher than VW’s Accelerate electrification strategy’s 70 percent goal for 2030, which was announced in 2021. According to Ulbrich, the VW brand has the most ambitious target of any Volkswagen Group brand, including Audi, Skoda, and SEAT/Cupra. However, the automaker is not raising its full EV targets for other major markets such as China and the United States.

The Volkswagen brand’s battery-electric vehicle targets in these countries remain at 50%.

Last year, fully electric cars accounted for slightly more than 10% of total passenger car sales for the Volkswagen brand. To meet Europe’s ambitious electrification target, Volkswagen will introduce a number of new and refreshed models in its ID lineup of all-electric vehicles.

The VW ID.3 has recently received a facelift that includes a more cohesive look both inside and out, as well as software updates; deliveries in Europe will begin in the fourth quarter of this year.

Following the release of the revised ID.3, Volkswagen will unveil the ID.7, a Passat-sized electric sedan, on March 15. The ID.7 will be available to European customers by the end of 2023. Volkswagen is also said to be considering an ID.7 Tourer waggon variant.

Volkswagen also intends to launch two entry-level EVs priced under $26,500 (€25,000) in 2025. These models will most likely be a hatchback and a crossover known as the ID.1 and ID.2. In addition, an all-electric Tiguan SUV is scheduled to arrive in 2026.

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Global Electric Vehicle passenger vehicles sales crossed 1.2 crores in Q4 2022

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March 9, 2023

How to Find the Best EV for Your Budget and Needs in 2023?

According to the most recent data, global sales of passenger Electric Vehicle (EVs) increased by 53% year on year in Q4 2022, according to a report by a global technology market research firm. This equates to more than 1.2 crore electric vehicle units for the fiscal year 2022-23.

According to the same report, Tesla’s Model Y has remained the best-selling Electric Vehicle model worldwide.

It is followed by the Song model from China-based BYD. Notably, battery electric vehicles accounted for nearly 72 percent of all vehicle sales in Q4 FY22-23. PHEVs, on the other hand, have absorbed the remaining market share. China, Germany, and the United States were the top three EV markets in 2022.

“The annual total for 2022 would have reached close to 11 million units had fresh Covid-19 infections not surfaced in China. The infections in China during November and December affected automotive production and sales and disrupted the component supply chain,” said research analyst Abhik Mukherjee.

Furthermore, the top ten Electric vehicle automotive groups, which own over 39 passenger car brands, accounted for nearly 72 percent of all EV sales in Q4 2022. Many Chinese brands began to expand in markets such as Europe, Southeast Asia, and Latin America in 2022.

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Honda Autonomous Work Vehicle prototype teased ahead of its unveiling

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March 9, 2023

The American Honda Motor Company is allowing the public to get a first look at its latest generation Autonomous Work Vehicle (AWV) prototype before showcasing its full capabilities at CONEXPO 2023 in Las Vegas later this month. The autonomous prototype, which can haul up to 2,000 pounds with zero emissions, was designed to support worksite efficiencies in the construction industry.

Honda released information about its third-generation Autonomous Work Vehicle, along with a demonstration video.

Honda is looking for new construction companies to put its new prototype to the test now that the company has made significant improvements to the EV based on field testing of its predecessor.

This prototype is the third generation of the Honda Autonomous Work Vehicle, with numerous improvements. Honda’s second-generation AWV was field tested successfully at a large-scale solar construction site in the southwest United States, and the company used that data to develop its latest version.

Honda’s new autonomous prototype will be on display this month in Las Vegas, where the company hopes to attract construction companies interested in field testing, but in the meantime, the company is sharing what this EV can do off-road.

Honda AVW can navigate rough terrain autonomously or manually via remote control, such as construction sites. Its 18.6 kWh battery pack can provide up to 28 miles of all-electric range while towing up to 2,000 pounds.

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BYD lost $18 billion in the price war with Tesla

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March 8, 2023

BYD, which is backed by Warren Buffett, has lost $18 billion in value in the last month as rival EV maker Tesla pursues a price war. The Chinese automaker’s US-listed shares have fallen 14% since February 1, trading at just under $58 as of Friday’s close. In comparison, BlackRock’s iShares Self-Driving EV & Tech ETF, which tracks publicly traded companies in the sector, has dropped 5% during the same time period.

BYD’s fall has reduced its total US market capitalization to $104 billion in just over a month.

Meanwhile, Tesla’s stock has risen 9% since February 1, adding to a rally fueled by investors’ growing confidence that interest-rate cuts are on the way, as well as a strong fourth-quarter earnings report that exceeded Wall Street forecasts.

Wedbush analyst Dan Ives described the Elon Musk-led carmaker’s price cuts in China as a huge success in order to revive faltering demand and boost revenues in the key EV market. However, Tesla has since reversed the price cuts on its flagship Model Y and Model 3 vehicles.

Tesla reduced the prices of its two most expensive models in the United States over the weekend. This is the fifth time the carmaker has reduced the price of its vehicles in 2023, indicating that it is committed to continuing its price war.

BYD shares in Hong Kong and Shenzen, China, have fallen around 13% since February 1, mirroring losses in the US. Berkshire Hathaway spent $232 million in 2008 to purchase 225 million shares of BYD at a price of around $1 per share. Even after the recent losses, BYD’s stock price has increased nearly 60-fold since then, implying that Berkshire has made roughly $13 billion, or a 5,500% gain, on its initial investment.

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Bill Gates spotted riding e-rickshaw in India!!

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March 7, 2023

As part of his India trip, Microsoft co-founder and philanthropist Bill Gates has been seen meeting the country’s most well-known figures, from Anand Mahindra and Ratan Tata to Prime Minister Narendra Modi. Bill Gates has been posting updates from his India trip on his blog and social media accounts on a regular basis. On Monday, he posted a video of himself driving a Mahindra e-rickshaw, Treo, with the classic ‘Babu Samjho Ishaare’ by Kishore Kumar and Manna Dey playing in the background.

Bill Gates described his video as, “India’s passion for innovation never ceases to amaze. I drove an electric rickshaw, capable of traveling up to 131km (about 81 miles) and carrying up to 4 people. It’s inspiring seeing companies like Mahindra contribute to the decarbonization of the transportation industry.”

Anand Mahindra, Chairman of the Mahindra Group, invited Bill Gates to a race with him and Sachin Tendulkar via Twitter.

“Chalti ka Naam Bill Gates ki Gaadi” So glad you found the time to check out the Treo @BillGates Now on your next trip’s agenda should be a 3-wheeler EV drag race between you, @sachin_rt and me… pic.twitter.com/v0jNikYyQg
— anand mahindra (@anandmahindra) March 6, 2023

This follows a meeting between the businessman and Master Blaster and Gates last week in Mumbai.

I had a great time learning more about your work in children's healthcare. I’m optimistic that, working together, we can score a century for progress! https://t.co/JAPnjBQIwk
— Bill Gates (@BillGates) February 28, 2023

According to photos taken at the same event, Bill Gates also met Reserve Bank of India (RBI) governor Shaktikanta Das, Tata Sons Chairman Emeritus Ratan Tata, and Tata Sons Chairman N Chandrashekaran. He also met Anand Mahindra and gave him a book in which Mahindra was addressed as a fellow Harvard classmate.

The Microsoft co-founder wrote in his blog ‘Gates Notes’ that India has been a shining example of resilience and innovation. He added that the country has demonstrated its ability to address major issues while also providing hope for the future.

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Two-Wheeler EV Registration rises in Feb 2023 with Ola leading the race

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March 6, 2023

Despite the ongoing problems with the FAME-II scheme, the total number of two-wheeler EV registrations increased slightly in February, with Ola Electric, TVS Motors, and Ather Energy leading the pack.

According to Vahan data, registrations in the two-wheeler EV category increased 1.6% month on month (MoM) to 65,623 units last month (as of March 1, 2023). The increase in two-wheeler EV registrations is about 15% lower than the highest monthly registrations of 77,094 units in October of last year.

Ola Electric, TVS Motor, and Ather Energy currently account for nearly half of the total vehicle registrations in this category among the 97 two-wheeler EV companies registered on Vahan.

It is worth noting that, while the overall number has increased MoM, the situation for most original equipment manufacturers has been quite the opposite (OEMs). Following five months of continuous growth in vehicle registrations, Ola Electric’s registration numbers fell to 17,616 units in February, a 3.8% decrease from the 18,313 escooters registered in January.

Despite a flood of customer complaints on social media platforms and several safety concerns raised by customers, demand for Ola Electric’s escooters has been heading north since September last year, when the startup launched a more affordable two-wheeler EV model and began opening experience centres across the country.

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