The most recent version of BMW iDrive with 'QuickSelect' and the BMW OS 9 come standard inside the BMW iX1 eDrive20.

BMW unveils new EV iX1 eDrive20 with hi-tech cabin, 475km range

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The BMW iX1 eDrive20, the company's newest <a href="https://evindia.online/car" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(17, 85, 204);">electric car</a>, has been unveiled. The SUV has a price tag of €47,900 (about Rs. 40 lakh) and has a WLTP-estimated electric range of between 430 and 475 km. The iX1 eDrive20 seeks to satisfy the rising demand for environmentally friendly and effective automobiles with a strong electric motor and exceptional performance. In Europe, it will be made accessible beginning in November.&nbsp; <h2>Electric range and performance</h2> A front-mounted electric motor with a highest power output of 204 horsepower and a maximum torque of 247 Nm is included in the BMW iX1 eDrive20. This all-electric crossover has an electronically capped peak speed of 170 km/h and can accelerate from 0 to 100 km/h in 8.6 seconds. Similar to the iX1 xDrive30 variant, the onboard high-voltage lithium-ion battery has a useable energy capacity of 64.7kWh and offers an electric range of 430–475km. The iDrive system The high-voltage battery for the BMW iX1 eDrive20 may be charged in a variety of ways. The battery can be fully charged using normal AC charging at up to 11kW in 6.5 hours. Charge time is decreased to 3.45 hours with an optional upgrade to a 22kW AC charger. The vehicle enables DC charging at a rate of 130kW for quick charging, enabling you to increase the battery from 10% to 80% in just 29 minutes. Double displayed The most recent version of BMW iDrive with "QuickSelect" and the BMW OS 9 come standard inside the BMW iX1 eDrive20. Additionally, it has dual-zone temperature control, leatherette seating, a Parking Assistant with a Reversing Assist Camera, and a BMW curved display with a 10.7-inch touchscreen and a 10.25-inch digital instrument cluster. The <a href="https://evindia.online/" rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204);">EV</a> rides on alloy wheels and has a powerful front fascia. It won't make its debut in the US, and it's unlikely that it will do so in India either.

The most recent version of BMW iDrive with "QuickSelect" and the BMW OS 9 come standard inside the BMW iX1 eDrive20.

BMW unveils new EV iX1 eDrive20

Prashant

<a href="https://evindia.online/electric-vehicle-companies/tata-motors" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(17, 85, 204);">Tata</a> had been planning to introduce three new <a href="http://www.evindia.online" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(17, 85, 204);">electric vehicles</a> in 2024 as part of its efforts to broaden its line of EVs. The Tata Punch EV was introduced earlier this year, while the Curvv EV and Harrier EV are the next variants. Tata has now disclosed the dates for the launches of these two models as well as the ICE-powered Curvv. <img src="https://lh7-us.googleusercontent.com/ad7JZEawVxbh6npXOMS6qLxuUvxJMs-br59lOp_G5XAgXiKgcZ84CfxtdTZYGLjY-ziuoHaOSrQOob1KPy_TJ62yOOs8sBvmX_1O39BBGQEFpxHxuCeQ7HN-bPJKo-UVM8y5Ru372JK7erPCQgkVBIs" height="339" width="602"> Tata disclosed during its investor meeting that it intends to introduce the Curvv EV during the second quarter of the 2024–2025 fiscal year. Accordingly, the Curvv EV is expected to hit the market in July or September of 2024. The Curvv EV was only in the idea stage when we last saw it in person in 2022. Additionally, even though the coupe SUV's battery pack and motor specifications are unknown, we do anticipate that it will have a 500 km range. <img src="https://lh7-us.googleusercontent.com/8h1lgfdsLXoaIXnJzJH_C7sSWCq7hDiJHIERnqCItQbhFB2IAW5EW4mlmNyRwjkQQG5wNR18AQDKsN195N9CS-DB_pSouSIQtyLTDZq3JGcTB8dhslAi5GqmKvKPkZl_7sORpteO91GG4aduBIVCQFo" height="339" width="602"> Moreover, Tata disclosed that the Curvv's internal combustion engine (ICE) version will be released three to four months after the electric version. Therefore, we may anticipate the ICE-powered Curvv to enter the market around this year's holiday season if the Curvv EV is introduced early in the second quarter of the fiscal year 2024–2025. Its features are expected to include the new 1.2-litre turbo-petrol engine from Tata, which produces 125 PS and 225 Nm. It will also likely include a 6-speed manual and a 7-speed DCT. Additionally, Nexon's 1.5-litre diesel engine (115 PS/260 Nm) will be installed, maybe with a choice of manual or automatic transmissions. <img src="https://lh7-us.googleusercontent.com/7PRn5FggsTMsmA-WVxtWX4JjGqpy9AudUthaKyySU_hqLpOduWxHbutlZq_fI7T6lDI8g_1Xl7cwIICdtDeDlvHKk4RIkMADjxM5souPapyHBMjoeFc9GPKX-597AOoqDIyARvozILGzU5ZwjCBEm14" height="376" width="602"> The Curvv EV is anticipated to start at Rs 20 lakh, while the ICE Curvv will most likely have a starting price of Rs 10.50 lakh. In the compact SUV market, which also comprises the Hyundai Creta, Kia Seltos, Volkswagen Taigun, Skoda Kushaq, Maruti Grand Vitara, and Toyota Hyryder, the Curvv EV will compete against the MG ZS EV and Hyundai Kona EV.

The Curvv EV is anticipated to start at Rs 20 lakh, while the ICE Curvv will most likely have a starting price of Rs 10.50 lakh.

Tata confirms launch of The Curv EV

Tata confirms launch of The Curv EV in second quarter of FY 2024-25

Reliance Industries, owned by Mukesh Ambani, the richest man in Asia and India, aims to revolutionise the<a href="https://evindia.online/" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(17, 85, 204);"> Indian electric vehicle (EV) market</a>. At the 'Battery Show' event in Greater Noida, RIL recently showcased its new product, swappable and multifunctional battery storage technology for EVs.&nbsp; The item is a component of the $10 billion renewable energy effort being made by the Ambani-led company. It's interesting to note that the new RIL product's application goes beyond only EVs because the replaceable and interchangeable batteries can also be used to power home appliances with the help of an inverter, according to Reuters. According to estimates, the Indian EV battery industry would be worth $5.9 billion (more than Rs 49000 crore) in 2023 and $10.14 billion by 2028. The unusual notion that a person may use the same battery for both transportation and powering domestic appliances is promoted by the new gadget, which was on display at a renewable energy exhibition. According to Reuters, unnamed executives, these batteries would be exchangeable at Reliance's battery swap stations or recharged by homes utilising rooftop solar panels.&nbsp;

At the 'Battery Show' event in Greater Noida, RIL recently showcased its new product, swappable and multifunctional battery storage technology for EVs. 

Mukesh Ambani in EV industry

Mukesh Ambani in EV industry: unveils new battery technology 

The urgent need for rapid development of the charging infrastructure is becoming increasingly strident among electric vehicle (EV) participants, including manufacturers and start-ups, as the ambitious government goal of one million EV sales in 2023 looms. According to an EV insider, the transportation sector is at a turning point when getting from Point A to Point B must be done responsibly and with consideration for the environment. According to Vinod Agarwal, MD and CEO of VE Commercial Cars, a joint venture between Volvo Group and Eicher Motors, "We forecast rapid adoption of our electric and clean technology vehicles by customers as charging infrastructure improves and green energy becomes widely available." The advantages of <a href="https://evindia.online/" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(17, 85, 204);">electric vehicles in India</a>, such as enhanced profitability and a smooth driving experience, have been acknowledged by both institutional and retail clients in the commercial category. The CEO of Euler Motors, Saurav Kumar, stated that "the industry should also emphasise making electric vehicle financing easier to obtain while continuing to enhance the charging and service infrastructure." Uday Narang, the creator of Omega Seiki Mobility, demanded that the government provide incentives and support for electric trucks. Although there have been creative ways to finance EVs, he believed that building charging infrastructure is still urgently needed. According to Sunjay Kapur, president of the Auto Components Manufacturing Association (ACMA), EV parts now comprise 2.7% of the components industry's total revenue, up from 1% in 2021–2022.“We've achieved significant advancements in the supply of components for electric vehicles thanks to more money being put into technology,”&nbsp; he claimed,

The advantages of electric vehicles in India, such as enhanced profitability and a smooth driving experience, have been acknowledged by both institutional and retail clients in the commercial category.

EV Industry demands increase in charging infrastructure

EV Industry demands high increase in charging infrastructure

According to Prime Minister Narendra Modi, the government has been working to offer various incentives for the <a href="https://evindia.online/" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(17, 85, 204);">electric vehicle (EV)</a> industry in order to achieve India's sustainability goal of reducing carbon emissions, according to Moneycontrol, citing their exclusive interview that covered the G20, as well as global issues, the economy, and more. The government has been putting effort into developing incentives for the electric vehicle market. According to Modi, the market has responded with more innovation, and consumers are reacting by being more willing to try the alternative. This occurs at a time when it is said that the Indian government is drafting a new EV policy that will lower import tariffs for businesses that commit to doing some local manufacturing. As opposed to the existing policy, which levies a 100 per cent tax on completely completed vehicles that cost more than $40,000 and a 70 per cent tax on everything else, the proposed policy would permit automakers to import fully built electric vehicles into India at a reduced tax rate as low as 15 per cent. The Ministry of Heavy Industries made the decision to reduce the FAME II scheme's subsidy for <a href="https://evindia.online/scooter" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(17, 85, 204);">electric two-wheelers</a> from Rs 15,000 per kWh to Rs 10,000 per kWh in June 2023. In addition to cutting the per-kWh incentive by Rs 5,000, the ministry also decreased the maximum subsidy ceiling from 40% of the vehicle's ex-factory price to 15%. The EV business has been witnessing fantastic acceptance despite the subsidy reduction. According to the government's Vahan website, retail sales of EVs in July 2023 included goods- and passenger-carrying commercial vehicles as well as two-, three-, and <a href="https://evindia.online/car" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(17, 85, 204);">four-wheeler</a> (car and SUV) divisions. In reality, sales of electric two-wheelers (E2Ws), which had plummeted in June as a result of the subsidy reduction, continued to rise in August. Compared to 45,000 units sold in June, over 59,000 E2Ws were sold across the nation in August. According to data taken from the Vahan website, the 59,313 units sold in August outsold the 54,498 automobiles sold in the previous month.

According to Modi, the market has responded with more innovation, and consumers are reacting by being more willing to try the alternative. This occurs at a time when it is said that the Indian government is drafting a new EV policy .

Government is developing incentives for EVs

According to Modi, the market has responded with more innovation, and consumers are reacting by being more willing to try the alternative. This occurs at a time when it is said that the Indian government is drafting a new EV policy.

Government is developing incentives for EVs: PM Modi

India's sovereign credit rating may be lowered as early as the 2030s as a result of the effects of climate change and the rise in temperature volatility, according to research. Delaying green investments would result in increased borrowing costs for countries, which will raise the cost of corporate debt, according to the team, which is led by researchers from the University of East Anglia (UEA) and the University of Cambridge in the UK. The study is the first to integrate climate science with "real world" financial data, and it was released on Monday in the journal Management Science. Without emissions reduction, it predicts that 59 countries' sovereign credit ratings would decline over the course of the next ten years. Investors frequently use sovereign ratings to determine a country's creditworthiness. The ratings, and the agencies that support them, serve as the gates to the world's capital, covering more than USD 66 trillion in sovereign debt. In order to model the economic impacts of climate change on Standard and Poor's (S&amp;P) ratings for 108 nations over the course of the next 10, 30, and 50 years as well as towards the end of the century, the researchers employed artificial intelligence (AI). Meanwhile, the 4th and last Energy Transition Working Group Meeting held by India under the G20 summit came to an end when the members of the group took a discussion on topics of climate change, sustainability, energy security, equitable energy access and financing, and global energy transitions. As most of the developing nations stay committed to Sustainable Development Goals (SDGs), the efforts from developed countries seemed stagnant.&nbsp; The fact can be seen as the carbon emission per capita in India along with Bangladesh seen as 1.78 metric tones and 0.55 metric tons respectively, while developed countries like the USA stand at 14.67 metric tons. Countries like the USA, China and other industry houses stand far above the baseline target of 2.3 metric tons per capita as set by the Institute of European environmental policy. Despite this, the USA allocates only&nbsp; 1-4% of its GDP for climate change programs. Whereas, India being a developing nation allocates around 3-10%. Amid such a situation, the lowering of credit rating in green investment for developing countries seems absolutely discriminatory.&nbsp; According to Patrycja Klusak, a researcher linked with Cambridge's Bennett Institute for Public Policy and a professor at UEA's Norwich Business School, "this research helps to bridge the gap between climate science and real-world financial indicators." As the climate warms and temperature volatility increases, "we find significant consequences from climate change as early as 2030, with significantly greater downgrades across more countries," Klusak added. The results provide credence to the premise that postponing green investments will raise borrowing costs for countries, which will result in higher costs of corporate debt, according to the researchers.&nbsp; “Because they were unprepared for the 2008 financial crisis, rating agencies suffered in terms of reputation. They must act immediately to reflect the considerably more serious effects of climate change”, Klusak continued. The team, which included Dr Moritz Kraemer, a former chief sovereign rating officer for S&amp;P, discovered that by 2030, 59 countries might have their credit ratings lowered by an average of more than one notch if nothing is done to reduce greenhouse gas emissions. According to the experts, Chile, Indonesia, China, and India would all go up a grade, while the US, Canada, and the UK would move down a notch each. They said that between January 2020 and February 2021, 48 sovereigns were downgraded by the three major agencies as a result of the economic turbulence brought on by the Covid-19 epidemic. According to the analysis, adhering to the Paris Climate Agreement and limiting global warming to two degrees would have no immediate negative consequences on sovereign credit ratings and little long-term implications. The researchers also estimated how these sovereign downgrades might affect company ratings and debt in 28 other countries. They discovered that the Paris Agreement may cost corporations up to USD 17 billion more globally by 2100 and that it might cost corporations up to USD 61 billion more if no action were taken to cut emissions. The main concept, according to the study team, was to adhere as closely as possible to both climate science and actual financial practices. AI creditworthiness prediction models were trained using S&amp;P ratings from 2015 to 2020. In order to get "climate-smart" credit ratings for a variety of global warming scenarios, they were later coupled with climate economic models and S&amp;P's evaluations of the risk of natural disasters. For India to achieve its climate-changing goal it feels more than necessary to switch energy sources from fossil fuel to more feasible and sustainable sources like electricity.&nbsp; As the given research is carried out by an AI while studying trends and data available, it still has a margin of error which may get altered if the demand of the Indian market increases. The potential customers of <a href="https://evindia.online/" rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204);">electric vehicles</a>, incentivised policy to welcome investment may save the Indian industry to fall.&nbsp;Hence, customers seeking to buy electric vehicles are likely to make an impact to change the foreseen situation.&nbsp;

The USA allocates only 1-4% of it GDP for climate change programs whereas, India allocates around 3-10%. Amid such a situation, the lowering of credit rating in green investment for developing countries seems discriminatory

Climate change is likely to drop India’s credit rating

Climate change is likely to drop India’s credit rating: You may save this 

The change to the FAME 2 subsidy, which resulted in a decline in the demand for electric <a href="https://evindia.online/scooter" rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204); background-color: transparent;">two-wheelers</a> and, as a result, a decline in total volumes, caused a major decline in the sales of <a href="https://evindia.online/" rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204); background-color: transparent;">electric vehicles</a> in the month of June. However, sales of electric passenger vehicles (ePVs) were unchanged month over month in June but increased by 131% year over year. From 2% last month to 1.8% this month, the percentage of electric vehicle sales in total passenger vehicle sales declined marginally. The change in the subsidy still holds optimism because this is truly a "course correction" and retail sales are in line with what the government had predicted. Around 45,759 electric two-wheelers were sold last month, with Ola Electric accounting for 17,579 units sold, or 31.3 per cent of the market, followed by TVS Motor Co. with sales of 7,807 units, or 17 per cent of the market, and Ather Energy coming in third with 4,543 units sold or 12.7 per cent of the market.&nbsp; Additionally, one must be aware that many pre-purchases occurred in May when retail customers took advantage of greater FAME 2 subsidies; as a result, the decline in June volumes cannot be interpreted as an indication of real demand. According to research by BNP Paribas, sales could increase over the next few months as customers adjust to price increases and OEMs perhaps provide more affordable models. According to the report, EV penetration for electric three-wheelers and electric passenger cars marginally decreased monthly, while volume remained consistent. According to the study, Delhi had the greatest decline in the penetration of electric two-wheelers, which fell to 6.3% in June from 9.5% in FY2023. In the two-wheeler retail sector, both TVS Motor Company (3.4%) and Bajaj Auto (1.8%) saw a considerable month-over-month decline in the EV mix. It anticipates that June's e2W penetration will be at the bottom and stabilise around these levels before recovering once OEMs release more affordable models, which should be the subsequent encouraging development for the sector. In June, MG Motor India increased its monthly volume share from 7 per cent to 16 per cent, while Tata Motors saw a decline from 77 per cent to 66 per cent. Across the main states, the volume increase was uneven, with Karnataka reporting the highest monthly sales of electric vehicles. As of the first quarter of FY2024, ePV penetration increased to 1.8%. Kerala made the biggest gain in terms of penetration, with a penetration rate of 6.4 per cent compared to 2.3 per cent in FY23. In June, Tata Motors' EV mix in the PV market marginally declined to 12 per cent. It claims that new model releases, most of which should occur in the second half of FY2024, continue to be a significant positive stimulus for EV penetration.

Ola Electric sold 17,579 units, , followed by TVS Motor Co. with sales of 7,807 units, and Ather Energy coming in third with 4,543 units sold

Around 45,759 electric two-wheelers were sold last month

Ola Electric sold 17,579 units, , followed by TVS Motor Co. with sales of 7,807 units, and Ather Energy coming in third with 4,543 units sold 

Passenger vehicle’s year-over-year sales increase by 131% despite overall drop in EV sales

In order to install EV charging stations in public parking lots around the city, Tata Power, one of the industry's top companies, teamed up with the Ayodhya Development Authority. The Memorandum of Understanding (MoU) was signed in the presence of Virendra Goyal, Head- Business Development (EV Charging), Tata Power, Vishal Singh, VC, Ayodhya Development Authority, and Gaurav Dayal, Divisional Commissioner of Ayodhya. Under the agreement, Tata Power offers to install EV charging points at several important points accessible to the public, including Guptar Ghat, Parking Survya Kund, Kaushesh Kunj MLCP parking near the Ayodhya railway station, Amaniganj multi-level parking (MLCP) in front of the Jalkal Department, collectorate Office parking in Ayodhya and the Tedhi Bazar MLCP parking on the east and west sides of Ayodhya. These locations have been carefully chosen to provide EV drivers with easy and easily accessible charging alternatives, ensuring a seamless charging experience across the city.&nbsp; The government of Uttar Pradesh has made substantial efforts to encourage the use of electric vehicles (EVs) in the state. The government provides a 3-year tax and registration fee exemption in order to encourage the purchase of EVs. Additionally, EVs made in the state are exempt from taxes for five years, which helps the local EV industry expand and the state's economy. These policies seek to increase the availability and affordability of EVs in the state of Uttar Pradesh. According to Virendra Goyal, "Our strategy includes a thorough focus on infrastructure development, technical innovation, and strategic partnerships. We are totally dedicated to creating a smooth and easily accessible charging ecosystem for electric vehicle users in Ayodhya through our relationship with the Ayodhya Development Authority. We are committed to supporting the city's sustainable mobility goals and advancing the transition to a cleaner and more environmentally friendly future for the city and the country by utilising our significant knowledge and skills in modern technology. Tata Power has currently set up 110 public and semi-public charging stations all throughout Uttar Pradesh. The business claims to have more than 40,000 home chargers, 4,000 public and semi-public charging stations, 250 bus-charging points, and a market share of around 60% in India's EV charging market.

Tata Power offers to install EV charging points at Guptar Ghat, Parking Survya Kund, Kaushesh Kunj MLCP parking, Amaniganj multi-level parking (MLCP) , collectorate Office parking in Ayodhya and the Tedhi Bazar MLCP parking 

UP government has made substantial efforts to encourage the use of EVs in the state

Tata Power signs MOU with Ayodhya Development Authority to set up EV charging facilities 

On Monday, integrated battery recycling and repurposing solutions provider <a href="https://lohum.com/" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(0, 0, 0);">Lohum</a> announced a partnership with <a href="https://www.mgmotor.co.in/" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(0, 0, 0);">MG Motor India</a> to create aftermarket options for the <a href="www.evindia.online" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(0, 0, 0);">EV</a> batteries used in the automaker's vehicles. As part of the partnership, Lohum will create a 2nd-life Battery Energy Storage System (BESS) using MG electric car end-of-first-life batteries for a variety of sustainable energy applications in domestic urban and rural markets. An entirely off-grid 5 kWh battery energy storage device was also launched as part of the partnership to provide an ongoing power supply even in areas with erratic grid infrastructure. In addition to the recently introduced tiny <a href="https://evindia.online/vehicles?type=3" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(0, 0, 0);">electric car</a> Comet EV, MG Motor India presently distributes the ZS EV in the Indian market. In around three years, MG Motor will deploy more than 1 GW of batteries in the market through its vehicles. According to Rajat Verma, founder and CEO of Lohum, the business has already used the batteries in close to 100-MW of power deployment, and this is anticipated to increase over the next three years. In order to maximise the potential of cells before recycling, Lohum claimed its unique repurposing technique would be employed. Healthy cells with a high Remaining Useful Life (RUL) will be used to create sustainable second-life BESS for a broad range of clean energy applications. The market for recycling lithium-ion batteries is anticipated to reach $10 billion in the next five to seven years, according to Verma. Rajeev Chaba, CEO Emeritus of MG Motor India said, "With their numerous applications, low cost, and undeniable support for local communities, battery energy storage solutions hold immense potential to revolutionise India's energy landscape."

Healthy cells with a high Remaining Useful Life (RUL) will be used to create sustainable second-life BESS for a broad range of clean energy applications.

Lohum will create 2nd-life battery using MG EV's end-of-first-life batteries

MG Motor India and Lohum collaborate on repurposed EV battery technology

The most recent version of BMW iDrive with "QuickSelect" and the BMW OS 9 come standard inside the BMW iX1 eDrive20.  | EV Marketplace

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