 Speaking at a press conference prior to Ola Electric's August 2 IPO, Aggarwal claimed that the company's market share in the electric vehicle (EV) sector is comparable to that of Maruti Suzuki, a major player in the auto industry.

Bhavish Aggarwal remarks on EV industry and Make-in-India push

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The CEO of Ola Cabs and the founder of Ola Electric, Bhavish Aggarwal, has been in the news recently for remarks he made emphasising the importance of made-in-India digital solutions to counter the dominance of large tech corporations. The tech entrepreneur from India has gradually increased his voice and frequently uses social media to discuss his opinions on technological advancements, especially as they relate to India. Here are some significant statements and declarations made by Bhavish Aggarwal in the last few weeks that highlight his long-term goals and strategic perspective for digital innovation, in light of Ola Electric's recent announcement that it is opening up its IPO to subscribers. Only a few days separate Ola Electric from being India's first EV firm to go public. Speaking at a press conference prior to Ola Electric's August 2 initial public offering (IPO), Aggarwal claimed that the company's market share in the electric vehicle (EV) sector is comparable to that of Maruti Suzuki, a major player in the auto industry. “In the EV space, we have already established a market position for ourselves. Since the others are far behind, we are also closing the gap in terms of margin of jump," Aggarwal stated. Each equity share of Ola Electric has a price range of Rs 72–Rs 76 as part of the IPO. The last day to subscribe is Tuesday, August 6. The IPO price for Ola Electric was 25% less than its prior $5.4 billion value. Citing Agrawral, Economics Times reported, “We are four-five years old and have scaled significantly. I wanted to make sure we price it attractively for the entire investor community in India. It’s a journey of significance for the country — we’re doing EVs, cells, India manufacturing, cutting-edge manufacturing. Hence, we represent a lot of themes that the future of the Indian economy is built on. The response from investors has been very encouraging,”&nbsp; Recently, the CEO shared a video on Twitter in which he can be seen riding a bike which is expected to be the Ola Roadster. The company in this upcoming annual Sankalp event on August 15 may release further details about this vehicle

Prashant

Ola Electric, on August 15, made its debut in the electric bike market with the introduction of its first line of motorcycles, the Roadster Series. The announcement came during the company’s annual event "Sankalp 2024" at the company's FutureFactory in Tamil Nadu.&nbsp; The Roadster Pro, which will launch at ₹1.99 lakh for 8kWh and ₹2.49 lakh for 16kWh, will be the first bike in the series whose delivery is expected to start at the beginning of Diwali 2025.&nbsp; According to the company, the Roadster Pro EV is capable of accelerating from 0-40kmph in just 1.2 sec and 0-60kmph in just 1.9 seconds. The e-bike can achieve a top speed of 194kmph and can travel a distance of 579 km(IDC) on a single charge making it the fastest e-bike in the whole series. The Roadster Pro comes with a 10-inch TFT touchscreen, two-channel switchable ABS, USD (upside down) forks and disc brakes at the front and the rear. In addition to DIY mode, the e-bike gets the company’s usual four riding modes including Hyper, Sport, Normal, and Eco. <img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXflbQyCVQYDTf9fR1R2nANHoHt6EPEV810YuMC3j8cLUorvRP5dA-p9mOeyL0LJ4RrKWppT8qAsWomGdDQrF7d9m4t3wrIbgHk2YCc59HxOy2svLwa_cPA1tZabCalvvlaLflmiRUJHtBsUFOvVckOr0_E?key=ptjaa9yPd5pNDAVHJMKX3g" height="466" width="502"> The next bike in the company’s fleet is The Roadster, which will be on sale at an introductory price of ₹1.05 lakh for 3.5kWh, ₹1.19 lakh for 4.5 kWh and 1.39 lakh for 6kWh. The vehicle can accelerate from 0-40 kmph in just 2 seconds (6 kWh) and has a top speed of 126 kmph. Moreover, the top model of the vehicle provides an exceptional range of 248 km.&nbsp; The Roaster e-bike can be driven in 4 riding modes including Hyper, Sports, Normal, and Eco. The vehicle features a 6.8-inch TFT touchscreen which is powered by MoveOS 5. The vehicle comes with a spectrum of features including cruise control, proximity unlock, party mode, temper alert and an additional AI-powered Kurtim Assistant, road trip planner and smartwatch app. At the front and rear, the vehicle also gets disc brakes which are backed by single-channel ABS equipped with brake-by-wire technology.&nbsp;The delivery of the Roadster bike is expected to begin in January 2025. <img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcxKLPScIg-E4u-hjFoq0yL2FaRwCnmcgwMIihbrGpNIlrm7dW24KX-qmhdDIZSQf6HC_QEtW4h8yuFhDIfX9emAHcy2Lj5STesIkx7_B78N3f4CN8xI5_G-yjdLL9XuAam7nUomsFqRPPAOz0n-exM2-Mk?key=ptjaa9yPd5pNDAVHJMKX3g" height="361" width="602"> The third and last offering of the Ola Electric bikes includes the Roadster X, which will come at ₹74,999 for 2.5 kWh, ₹84,999 for 3.5 kWh and ₹99,999 for 4.5kWh at launch. According to the company, the Roadster X can produce a peak power of 11 kW. The Roadster X in its top offering is capable of accelerating from 0-40kmph in just 2.8 seconds and can achieve a speed of 124kmph. The vehicle provides a range of 200km (4.5kWh) and comes with a Combi Braking System (CBS). The ride comes equipped with disk brakes which feature advanced brake-by-wire technology.&nbsp; The Roadster X can be ridden in 3 modes including Sports, Normal, and Eco. In features, the vehicle has a 4.3-inch LCD segment display which is powered by MoveOS 5,&nbsp;Ola Maps Navigation (Turn by Turn), cruise control, advanced regen, DIY Mode, TPMS alerts and much more.&nbsp; The bike is scheduled to go for delivery in January 2025. <img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdu57vPKJZoa_0yyN-5UKQGk6C_xzABPwjidDHhkDZ7VCHWnrBbWt916kSkZph1Bi5b6EfdKrTqi7r5tR6v-ZUCDQeAz7kyZgckIMN3GVt3RLZhbs9NaWBnEZAfn9pn0obSEkWnKXS7YlmDRv5Fo_NF5qAg?key=ptjaa9yPd5pNDAVHJMKX3g" height="267" width="602"> All three models will be available for pre-booking from today. Ola Electric CEO Bhavish Aggarwal emphasised Ola's commitment to India's future while outlining his vision for the company during his keynote speech. He emphasised that rather than leaving the future to chance, the Ola Group as a whole—which includes the Electric, Consumer, and Krutrim divisions—is committed to influencing it. During its annual flagship event on 15 August, Aggarwal added, that his company would introduce its electric motorbike portfolio spanning mass and premium markets. The launch came just a few days after the company listed itself on the stock exchange with an IPO price of ₹76 per share. As of Aug 15, the company’s share value stands at ₹110.

Ola Electric CEO Bhavish Aggarwal emphasised Ola's commitment and emphasised that rather than leaving the future to chance, the Ola Group is committed to influencing it.

Ola Electric releases e-bikes, Roadster, Roadster X, Roadster Pro

Ola Electric releases e-bikes, Roadster, Roadster X, Roadster Pro: Check out Range, Battery, Price

As part of its EV deployment initiative, Amazon India announced on August 12 that it has partnered strategically with Gentari, an electric mobility company, intending to have 10,000 electric cars in its fleet by 2025 for last-mile deliveries. As per the agreement, Amazon India stated that Gentari Green Mobility Business will supply delivery service partners (DSPs) with comprehensive fleet management services to guarantee the smooth operation and maintenance of the EV fleet, in addition to Gentari Green Mobility Business acquiring and deploying electric vehicles for the company within the next three years. The partnership is expected to provide access to more electric three-wheelers for Amazon deliveries to Delivery Service Providers (DSPs). The collaboration between the two companies will provide Delivery Service Providers (DSPs) easier access to more electric three-wheelers available for Amazon deliveries "Our goal is to enable our delivery service providers with the appropriate electric cars, complete life cycle management services, and parking and charging infrastructure," stated Abhinav Singh, Vice President of Operations at Amazon India. He further emphasized that the company had over 7,200 EVs in India by the end of 2023 and is still on track to reach its goal of 10,000 EVs in the nation by 2025.&nbsp; Citing Nikhil Thomas, CEO of Gentari Green Mobility India, MoneyControl stated, "I'm confident this collaboration will pave the way for a cleaner and electric future for India's transport sector as we work together to deploy more EVs and contribute to India's net-zero targets." Gentari Green Mobility India provides a full suite of services, which includes a large network of EV charging sites, EV subscriptions via Vehicle-as-a-Service (VaaS), and tailored value-added services.

The partnership is expected to provide access to more electric three-wheelers for Amazon deliveries to Delivery Service Providers (DSPs).

Amazon India joins hands with Gentari 

Amazon India joins hands with Gentari to develop 10,000 EV fleet 

The automotive industry has high expectations for the Union Budget 2024–2025, believing it would include regulatory measures and improve incentives to support the nation's electric vehicle (EV) ecosystem. The government is expected by businesses to unveil plans to improve the nation's manufacturing and charging infrastructure. "EVs have done very well on the market, and appropriate regulatory and incentive measures should be introduced to further strengthen the ecosystem. Additionally, the GST slabs should be adjusted such that the initial purchaser of a 100cc car falls under the 18% slab, according to Indore-based auto dealer Vishal Pamnani.&nbsp; Reportedly, automotive dealer’s representatives are looking for a smooth administrative functioning by reducing paperwork which will streamline and improve the financing process. A budget announcement from the government on the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) 3 initiative is also anticipated by industry participants. According to them, in order to encourage owners to get rid of their older cars, the scrapping policy has to be reinforced further by offering better incentives for doing so. Industry participants anticipate that the government will expand the scope of the Production Linked Scheme (PLI).&nbsp; "The industry will receive a much-needed boost if the Production Linked Scheme is expanded to include tyre producers. Policy reforms are necessary to address the cost of advancement in industries, which has increased due to new technologies,” citing an industry leader from Pithampur's tyre manufacturing sector, Times Of India Reported.

A budget announcement from the government on the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) 3 initiative is also anticipated by industry participants.

Automobile sector seeks subsidy and incentive support 

Automobile sector seeks further subsidy and incentive support from government

Hyundai’s next upcoming major offering in the Indian automobile market is likely to be the all-electric Creta SUV. In the upcoming year, the well-liked vehicle will get an electric drivetrain replacement. Additionally, the same is scheduled to go into production in December of this year. The redesigned Creta facelift will serve as the foundation for the Hyundai Creta EV. The vehicle will include aerodynamic alloy wheels, a front-fender located charging port, a modified bumper, and a blanked-off grille—a few features not found on other EVs. These can be seen in the most recent spy photos. Regarding features, the Creta EV is expected to include a panoramic sunroof, new seat upholstery, dual-zone temperature control, a revamped centre console and AC vents, a new steering wheel, and a drive selector positioned in the steering column. A Level 2 ADAS suite, a 360-degree surround camera, a blind spot monitor, adaptive cruise control, six airbags, and front and rear parking sensors are further features that the electric SUV will include. Concerning the size and driving range of the battery pack, it is anticipated that the Creta EV will be available with a respectably large 50kWh to 60kWh battery unit, which should provide more than 500km of range on a single charge. The MG ZS EV, Tata Nexon EV, Mahindra XUV400, Tata Curvv EV, and Hyundai Kona Electric will be the Creta EV's competitors when it debuts on the market.

Regarding features, the Creta EV is expected to include a panoramic sunroof, new seat upholstery, dual-zone temperature control, a revamped centre console and AC vents, a new steering wheel, and a drive selector positioned in the steering column.

Hyundai to unviel all-electric Creta SUV

Hyundai to unviel all-electric Creta SUV?

Prashant Sha

Eleven manufacturers of electric vehicles (EVs), including Ather Energy, Bajaj Auto, Hero MotoCorp, Ola Electric, and Mahindra, have been granted approval by the Ministry of Heavy Industries to earn incentives under the recently launched Electric Mobility Promotion Scheme (EMPS) 2024. Citing a senior ministry source, Business Standard reported, "A total of 11 firms have been granted approval under the EMPS, with several more under consideration." The programme, which took the place of the earlier Faster Adoption and Manufacturing of Electric Vehicles – II (FAME-II) programme, intends to maintain the rise in EV sales. The new programme, which has been allocated Rs 500 crore, went into effect on April 1 and will run until July 31. Manufacturers of EVs authorised for the EMPS 2024 scheme are Bajaj Auto, Ather Energy, TVS Motor, BGauss Auto, Ola Electric, Hop Electric, Quantum Energy, Hero MotoCorp, Kinetic Green, Mahindra and TI Clean Mobility. For this plan, the government has simplified the certification procedure. According to the official, "the approval process is now more efficient and expedited, ensuring a seamless experience for applicants." EV firms had already expressed worry that they would lose out on incentives for sales made after April 1. Nonetheless, from the dates of their separate approvals, firms that have been approved will be eligible for rewards. Manufacturer applications are still being accepted. According to officials, any candidate hoping to get incentives under the new programme would need to go through a registration process. The government has lowered the maximum subsidy ceiling in an effort to control the rising demand and ease the pressure on EV makers. The ceiling has been lowered for electric two-wheelers (e2W) to Rs 10,000 from Rs 22,500 and for electric three-wheelers (e3W) to Rs 50,000 from Rs 111,505. There will be incentives of Rs 5,000 per kilowatt-hour (kWh) for both categories. "In response to the strong demand, subsidies have been reduced. As subsidies cannot last forever, the objective is to sustain the sector while getting it ready for a post-subsidy age,” Heavy Industries Minister Mahendra Nath Pandey said, Business Standard reported. While there are incentives available for the e2W and e3W categories, the new programme does not provide any benefits for e-buses or electric four-wheelers (e4W). A three-year extension of FAME-II advantages to their category was requested by a number of e4W manufacturers, including the market leader Tata Motors, however this request was denied. Officials from the government clarified that the reason e4W and e-buses aren't included in the EMPS is because these groups are already served by programmes like PM-eBus Sewa Scheme and Auto PLI. "e4W and buses are already served by the PM-eBus Sewa programme and Auto PLI. The Heavy Industries Minister has stated that EMPS will only concentrate on the e2W and e3W categories at this time. Data from the government indicates that FAME-I provided demand incentives of Rs 343 crore, supporting over 278,000 pure EVs. FAME-II was later extended to March 2024. It started in April 2019 and has a three-year budget of Rs 10,000 crore. This year, EV sales have increased significantly by more than 45%, overcoming the obstacles posed by legislative changes and decreases in subsidies. EV registrations increased significantly in 2023, coming close to 1.5 million, compared to little over 1 million the year before. The overall EV penetration in India has increased to 6.3% from 4.8% in 2022, surpassing the 5% threshold thanks to this development.

The ceiling has been lowered for electric two-wheelers (e2W) to Rs 10,000 from Rs 22,500 and for electric three-wheelers (e3W) to Rs 50,000 from Rs 111,505. There will be incentives of Rs 5,000 per kilowatt-hour (kWh) for both categories.

11 EV manufacturers receives government subsidy approval

11 EV manufacturers receives government subsidy approval under EMPS scheme

The Gujarat government and <a href="https://evindia.online/electric-two-wheelers" rel="noopener noreferrer" target="_blank" style="color: rgb(0, 0, 0); background-color: transparent;">electric two-wheeler</a> manufacturer Wardwizard Innovation and Mobility Ltd have signed an agreement to establish an e-vehicle centre in Vadodara.&nbsp;The business would use the Rs 2,000 crore Memorandum of Understanding to position Vadodara as a hub for electric vehicles and to support the creation of over 6,000 new employment opportunities. Wardwizard is famously known for its manufacturing of the "<a href="https://evindia.online/electric-vehicle-companies/joy-e-bike" rel="noopener noreferrer" target="_blank" style="color: rgb(0, 0, 0); background-color: transparent;">Joy e-bike</a>" line of electric two-wheelers.&nbsp; According to the MoU, Wardwizard has purchased 100 acres of land from the state and intends to build auxiliary cluster units for the production of motors, control units, and batteries. Vendors establishing auxiliary units will receive free land and infrastructure from the government, and they will be allowed to sell their goods to other <a href="https://evindia.online/" rel="noopener noreferrer" target="_blank" style="color: rgb(0, 0, 0); background-color: transparent;">EV</a> players in addition to Wardwizard.&nbsp; In an effort to lessen reliance on China for battery production, the MoU also pledges to establish a facility for the production of 1 GHz lithium-ion battery cells. The business went on to say that this is its second partnership of this kind with the Gujarati government. Prior to this, Wardwizard spent Rs 650 crore and inked an MoU worth Rs 500 crore with the state government. This time around, the company hopes to see investments of at least Rs 2,000 crore.&nbsp; Wardwizard primarily works in the electric two- and three-wheeler markets and is better known for its electric two-wheeler brand, Joy e-bike. Although the firm has not disclosed its future intentions, expect to see additional high-speed e-scooters from them in addition to their commercial products.&nbsp;

In an effort to lessen reliance on China for battery production, the MoU also pledges to establish a facility for the production of 1 GHz lithium-ion battery cells. 

Gujarat Government and Wardwizard join hands

Gujarat Government and Wardwizard join hands to establish EV Hub 

According to Ramalinga Reddy, Minister for Transport and Muzrai Department, here on Wednesday, inexpensive <a href="https://evindia.online/" rel="noopener noreferrer" target="_blank">electric vehicles</a> should be made available to meet the goal of a green and clear environment, and the Karnataka government was ready to offer all necessary support to encourage the adoption of EVs in the State. Reduced EV prices, according to the Minister, will not only draw in more purchasers but also considerably help the country reach its goal of zero carbon emissions by easing traffic congestion and lowering pollution levels. He was speaking at the start of the three-day E- Mobility Show, where industry professionals and decision-makers would be debating recent advancements in the EV business. The Minister went into further detail on tax breaks, funding for EV-related research and development, and encouraging domestic production of EV parts and batteries.

The Minister went into further detail on tax breaks, funding for EV-related research and development, and encouraging domestic production of EV parts and batteries.

Karnataka to promote EV adoption in state: Ramalinga Reddy

Bhavik

<a href="https://evindia.online/" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(17, 85, 204);">Electric vehicles</a> are far more cost-effective to operate than conventional vehicles, but what may be more intriguing is the fact that India is the third-cheapest place in the world to charge an EV. According to research by Australian data aggregator Compare the Market, Denmark, Italy, and Germany had some of the highest EV charging costs, while Argentina, Malaysia, and India had the lowest rates worldwide. The study examined the cost of charging the most recent Hyundai Kona EV in 50 nations and rated them according to the price of energy used per 100 kilometres of driving. It also computed how much money a person would save on fuel if they switched from an ICE vehicle to an EV India stands third in EV running cost According to the study, the cost of completely charging the Kona EV in India is Rs 231, placing it third overall after Argentina and Malaysia, which cost Rs 113 and Rs 157, respectively. The United Arab Emirates, Vietnam, China, and Turkey were the nations that came after us in offering inexpensive EV charging rates. The most costly nations, on the other hand, were Denmark and Italy, where a full charge for a Hyundai Kona EV costs Rs 1,823. The Netherlands, Germany, Belgium, Lithuania, and Austria (tied for fourth), and these nations were the most costly for EV charging. The study also found that, of all the countries it examined, charging an electric vehicle tended to be more expensive in Asia than in Europe. According to the study, driving an EV in India costs Rs 76 in power expenses per 100 km, compared to Rs 647 in petrol prices for a comparable automobile. Driving an EV instead of a petrol vehicle in India can therefore result in a savings of 88.26% on one's prospective fuel expense. Furthermore, among all the countries considered, the savings % was the second-best result. The study also found that due to the greatest price disparity between electricity and fuel, Norway and Iceland claim the most net savings when comparing battery charging to petrol filling. In both countries, one may save more than Rs 8,318 for every refill or recharge. Italy, on the other hand, was the country where one saves the least per mile relative to the cost of fuel. For every 100 kilometres driven, EVs cost an average of Rs 267 to charge, compared to Rs 763 for a fuel equivalent across all investigated countries. As a result, refilling an identical petrol vehicle costs just around one-third of what it does to charge an EV. The study demonstrates that the operating cost reductions vary greatly depending on the nation and the price differential between gasoline and electricity, with EV drivers saving anywhere between 27.63 per cent and 92.59 per cent of their fuel expenditure every km (compared to an identical petrol vehicle). Research Methodology The most recent Hyundai Kona model was the vehicle utilised to evaluate operating expenses. It was chosen for a comparable foundation of comparison since it is available in both petrol and electric varieties, the latter of which has even been on sale in India in its previous-gen appearance. The petrol version featured a 148hp, 2.0-litre, four-cylinder petrol engine with a 50-litre fuel tank, while the electric version had a 39.2kWh battery with 136hp of power (the same as the India-spec vehicle). Please be aware that operating expenses were estimated based on stated fuel economy and range estimates, and that actual costs and differences may change depending on actual operating circumstances. Additionally, GlobalPetrolPrices.com was used to obtain the most recent publicly accessible data for both measures (September 2022) for the fuel and power price data.

Driving an EV in India costs Rs 76 in power expenses per 100 km, compared to Rs 647 in petrol prices for a comparable automobile. Driving an EV instead of a petrol vehicle in India can therefore result in a savings of 88.26%.

India ranks third in world’s cheapest EV charging

India ranks third in world’s cheapest EV charging: Study

 Speaking at a press conference prior to Ola Electric's August 2 IPO, Aggarwal claimed that the company's market share in the electric vehicle (EV) sector is comparable to that of Maruti Suzuki, a major player in the auto industry.  | EV Marketplace

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Bhavish Aggarwal remarks on EV industry and Make-in-India push

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