A MOU was signed between a Tata Group subsidiary, Tata Agratas, and the Gujarati government to establish a gigafactory for the manufacture of lithium-ion batteries.

EV sector of Gujrat will receive Rs 13,000cr investment from Tata Group 

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In connection with the Vibrant Gujarat Global Summit 2024, Gujarat Chief Minister Bhupendra Patel visited <a href="https://evindia.online/company/tata-motors" rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204); background-color: transparent;">Tata</a> Sons Pvt. Ltd. and Godrej Industries on Wednesday in Mumbai. Patel learned that the Tata Group, with its involvement in the power, vehicle, chemical, and information technology (IT) industries, is one of the top investors in Gujarat during his meeting with Tata Sons Chairman Natarajan Chandrasekaran. According to Chandrasekaran, the Tata Group has signed a Memorandum of Understanding (MoU) to invest Rs 13,000 crore in the construction of an <a href="https://evindia.online/" rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204); background-color: transparent;">EV</a> battery facility in Sanand. A memorandum of understanding was signed between a Tata Group subsidiary, Tata Agratas Energy Storage Solutions Pvt. Ltd., and the Gujarati government to establish a gigafactory for the manufacture of lithium-ion batteries. The Chief Minister expressed satisfaction with the Tata Group's significant investments in the green and renewable energy industries. One of the top businesses in the solar energy industry is Tata Power, to whom the Chief Minister indicated his willingness to provide funding in the subsequent stage of the Solar Production Linked Incentive (PLI) Scheme under a number of different categories. Rakesh Swamy, group chairman and director of corporate affairs for Godrej Industries, and Patel also had a meeting. By 2025, Godrej Industries would spend a further Rs 300 crore in its Dahej-based business, Swamy informed the Chief Minister. According to him, the business intends to make more investments to boost its position in the hydrogen and power sectors in order to supply sophisticated and substantial equipment. The Chief Minister informed Swamy that Gujarat state is the ideal location for his enterprise. Major investors in Gujarat include the Tata Group and Godrej Industries, and their sustained support will strengthen the state's economy and increase employment opportunities.

EV sector of Gujrat will receive Rs13,000cr

Prashant

The HeroMotocorp-backed Ather Energy, an Indian two-wheeler electric vehicle brand, has filed an IPO by announcing to issue shares worth Rs3100 crore ($369.4 million), according to the red herring prospectus draft submitted by the company. The announcement came weeks after the Indian EV giant Ola went public.&nbsp; According to a report by the Economic Times, in the announced IPO, top shareholders and investors will sell up to 22 million shares. The company has decided to go public to increase its capital expenditure by establishing a factory in Maharashtra and to further promote research and development, citing Ather ET reported.

The announcement came weeks after the Indian EV giant Ola went public. 

Ather energy to go public

Ather energy to go public; plans to issue $369.4 million worth of share

Zero Motorcycles, an electric vehicle partner of Hero Motocorp, is developing a new electric motorbike which seems to be a mini bike designed for urban markets, according to a report by Bikewale. According to the report, the leaked patent photos indicate that the bike's overall dimensions seem similar to the Honda Grom, a tiny motorbike recognised for its size and urban placement. The update seems indicative of the American EV manufacturer’s intention to enter into the low-cost electric vehicles segment.&nbsp; The patents indicate that the corporation intends to add detachable batteries to the vehicle. The motorbike will be one of its first kind, as currently, all Zero e-bikes have fixed batteries,For urban bikes, replaceable batteries make sense since the user can charge them in several locations if the riding range runs out. There are no specifics about the bike's specifications or features yet. However, as the launch date approaches, the company is expected to release additional details.&nbsp; Based on the vehicle's size, the report, taking precedent of the Honda Navi as a failure in the market, assumes that the Hero’s new electric motorbike is unlikely to be imported into India.

The leaked patent photos indicate that the bike's overall dimensions seem similar to the Honda Grom, a tiny motorbike recognised for its size and urban placement. 

Zero designing a mini electric bike

Zero, Hero Motocorp's EV partner designing a mini electric bike

Amara Raja Energy &amp; Mobility (ARE&amp;M), on Monday, declared its intention to seek external funding options including debt, equity, or a combination of both. Reportedly, the firm is looking for funding to reach its goal of allocating Rs 9,500 crore for the establishment of a gigafactory corridor in Telangana. Currently, AREM is sourcing its funds by investing through Amara Raja Advanced Cell Technologies (ARACT) and internal accruals. It is to be noted that the ARACT has been previously separated to form a new entity. "We intend to use our own internal accruals and borrowings to manage during the initial phase of our manufacturing activities when we reach the 8–10 gigawatt-hour (GWH) capacity. However, to go beyond that, equity funding will be required,” according to AREM Chairman and Managing Director Jayadev Galla. ARACT, a subsidiary entity formed in 2021 is in charge of making battery packs, fixed chargers, and individual cells for electric vehicles. Amara Raja said in December 2022 that it is constructing a 16 GWH lithium-ion cell manufacturing and battery pack assembly factory in Telangana. The Amara Raja Group launched phase 1 of the 1.5 GWH battery pack facility in Mahabubnagar district this week, along with a groundbreaking ceremony for their Customer Qualification facility for cell production. Gala said, “Our goal is to have a manufacturing capacity of 16 GWH cells by 2029.” He further emphasized that the company’s capacity increase would be adjusted in accordance with the outcome of the market demand. He continued, "We have not yet decided on the course of action at that point, but we're looking at different options."&nbsp; Giving indication to the company’s intention of listing, he further added that they will seek stake dilution after achieving 50% of the intended production. Galla stated he won't be able to disclose the amount to be raised or the level of stake dilution at this time.

ARACT is in charge of making battery packs, fixed chargers, and individual cells for electric vehicles. Amara Raja said in December 2022 that it is constructing a 16 GWH lithium-ion cell manufacturing and battery pack assembly factory in Telangana.

Amra Raja seek external funding 

Amra Raja plans to expand EV battery manufacturing, seek external funding 

The Volkswagen Group has started localising its electric vehicle chassis and powertrains for India, according to recent reports. The "PEAK EV" project will be used to build the new "born EV" platform. VW intends to introduce the 'MEB21G” platform in India, per sources in the media. However, to keep it affordable, it will be highly localised. It is anticipated to support a number of SUVs produced at the company's Chakan facility. There is talk that the entry-level and mid-size SUV categories will likely be the main emphasis, while specifics are yet unknown. A more widely available Skoda vehicle is anticipated to launch with the VW-branded electric SUV which is anticipated to be the first model built on the localised MEB21G platform. It is anticipated to make its debut in 2026. One billion euros will need to be invested in the PEAK EV project. The automaker wants to produce 500,000 vehicles annually for export and domestic markets. The VW Group presently provides electric automobiles from its high-end brands like Porsche and Audi in India. They are brought in as fully assembled units (CBUs).

A more widely available Skoda vehicle is anticipated to launch with the VW-branded electric SUV which is anticipated to be the first model built on the localised MEB21G platform.

Volkswagen Group’s “PEAK EV” project

Volkswagen Group’s “PEAK EV” project attempts to localise EVs in India

Popular Chinese smartphone maker Xiaomi revealed the SU7, their first <a href="http://www.evindia.online" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(17, 85, 204);">electric vehicle</a>. Xiaomi has now said that tomorrow, December 28, during an event, it will reveal the technology underlying its first-ever <a href="https://evindia.online/electric-cars" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(17, 85, 204);">electric car</a>. The exhibition, which will be held during the Stride event in China, will provide attendees with a peek into the technology that goes into Xiaomi's SU7, the company's first electric vehicle. The firm made it clear that there will be no product demonstrations during the event; instead, all attention will be on its electric vehicle technology.&nbsp; On his X account, Xiaomi's CEO and founder, Lei Jun, revealed the date of the technology's introduction for the SU7. He said, "Today marks the 1000th day since we announced our entry into the EV industry. Back in the early days, I spent three days in a marathon meeting with the EV team talking about a very simple question: what sort of automobile do we want to build? One thing was clear to everyone in that room: there is no royal way to success. In order to create a fantastic automobile, we pledged to start from scratch and invest 10 times as much in the essential technology! Not just 1000 days of hard R&amp;D by our EV team, but 13 years of research and development at Xiaomi is what led to these advances.” According to Xiaomi, the SU7 has performance to match those of high-end vehicles like the Porsche Taycan Turbo. Additionally, Xiaomi said that the electric car will have technologies influenced by electric vehicles such as the Tesla Model S. Lei Jun also stated on social media that "SU stands for Speed Ultra." SU7 is anticipated to be an incredible performer. The update seems an attempt to penetrate a completely new segment of the future market, as the company's smartphone market share has declined from 20.6% in Q3 2022 to 16.6% in Q3 2023.&nbsp; The Xiami SU7 electric sedan is a vehicle that is still unknown, however, it is anticipated to come in three different variants: SU7, SU&amp; Pro, and SU7 Max. It will be available in two versions: one with Lidar and the other without. Xiaomi has disclosed that the SU7 will come with a Rear-Wheel Drive (RWD) and All-Wheel Drive (AWD) engine, depending on performance needs. With an electric motor on the front (295 bhp) and rear (368 bhp) axles, the AWD system produces a total power output of 663 bhp. In contrast, the RWD arrangement places the electric motor on the back axle, producing 368 horsepower of power.&nbsp; Furthermore, Xiaomi has stated that the peak speed of the SU7 would be 265 km/h for the higher model and 210 km/h for the cheaper one. The Xiaomi Su7 is in trial production and will launch on the domestic market in a few months, according to a social media statement by the company's founder and CEO. Although the exact cost is still pending, we guarantee it will be more than you anticipated.

SU7 is anticipated to come in three different variants: SU7, SU& Pro, and SU7 Max. It will be available in two versions: one with Lidar and the other without. 

 Xiaomi to unveil its first-ever EV “SU7”

Smartphone manufacturing giant Xiaomi is all set to unveil its first-ever EV “SU7”

The line of <a href="https://evindia.online/bike" rel="noopener noreferrer" target="_blank" style="color: rgb(0, 0, 0); background-color: transparent;">electric motorcycles </a>and scooters from <a href="https://evindia.online/company/odysse" rel="noopener noreferrer" target="_blank" style="color: rgb(0, 0, 0); background-color: transparent;">Odysse</a> Electric Vehicles are now available for pre-order and buying on Flipkart as part of launch promotions. Vader, Evoqis, Hawk Plus, Racer Lite V2, and E2Go Lite and their variations are all part of the whole line of Odysse goods. In order to provide a consistent experience, Odysse Electric Vehicles works to integrate all available channels, including online, mobile, and physical dealerships. Odysse anticipates giving its consumers access to the whole array of Odysse electric vehicles thanks to Flipkart's reach, customer insights, and online marketplace expertise. Nemin Vora, CEO of Odysse Electric Vehicles, commented on the news by stating that "E-commerce has evolved as a potent instrument for reaching a wide variety of clients across all segments of society in today's period being driven by technology. Our collaboration with Flipkart is a calculated move to broaden our audience and give them easier access to and adoption of the newest developments in sustainable technology and electric transportation.

Odysse anticipates giving its consumers access to the whole array of Odysse electric vehicles thanks to Flipkart's reach, customer insights, and online marketplace expertise

Odysse EV join hands with Flipkart

Odysse EV join hands with Flipkart to sell EV

The Pimpri-Chinchwad Municipal Corporation's standing committee adopted an <a href="https://evindia.online/" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(17, 85, 204);">electric vehicle</a> policy for <a href="https://evindia.online/vehicles?type=4" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(17, 85, 204);">three-wheeled</a> autorickshaws on Tuesday. For the conversion of CNG vehicles to EVs, PCMC is providing a subsidy of up to Rs 30,000. According to PCMC commissioner Shekhar Singh, the standing committee meeting today approved the EV policy for auto-rickshaws. The conference was presided over by Singh. "PCMC is offering up to Rs 30,000 subsidy for autos with batteries, and Rs 15,000 grant for autos without batteries," the PCMC head, who is also the city administrator, stated. In essence, we are matching the state government's award of Rs 30,000. The Centre is also giving auto-rickshaws that are switching from CNG to EVs a similar award of Rs 30,000. Singh stated that the first 1,500 autorickshaws will receive the subsidy. Then, he added, "The plan will be expanded to other vehicles." This year’s February data shows an 81 per cent rise in e-rickshaw sales, making the total number reached 30,413 throughout India. The constant emphasis on green energy by the government has been reported to bring this significant change. Moreover, the data is likely to be increased as many more EV manufacturing companies are likely to follow policies to enjoy the benefits of subsidies provided by the government.

PCMC is offering up to Rs 30,000 subsidy for autos with batteries, and Rs 15,000 grant for autos without batteries

For the conversion of CNG vehicles to EVs, PCMC is providing a subsidy of up to Rs 30,000

EV policy for Auto rickshaw gets approval of PCMC panel 

Targeting owners of <a href="http://evindia.online" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(17, 85, 204);">electric vehicles</a> (EVs), the private insurer <a href="https://www.acko.com/?utm_source=google&amp;utm_medium=cpc&amp;utm_campaign=1st_Party_Brand_Exact_Web_S&amp;utm_adgroup=Acko&amp;utm_term=acko&amp;utm_network=g&amp;utm_matchtype=e&amp;utm_device=c&amp;utm_placement=&amp;utm_content=539592290108&amp;utm_Adposition=&amp;utm_location=9061702&amp;utm_Sitelink=&amp;utm_Audience=kwd-393194685563&amp;utm_Promotion=&amp;utm_Price=&amp;gclid=CjwKCAjw3POhBhBQEiwAqTCuBl0_KWcxA2thgJiFPto1jsUplaWm8EZthDkVwv5hZNnL8wYXvv8QSBoC1BQQAvD_BwE" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(17, 85, 204);">ACKO General Insurance </a>introduced its "Extended Battery Warranty" plan on Monday. The policy allows banks to extend loan terms and decrease monthly payments to increase the affordability of EVs. The increasing adoption of EVs across the country would be aided by this, according to Animesh Das, VP of Motor Underwriting at ACKO. The first-ever policy on battery insurance ensures performance coverage for up to 60,000 km and protects battery life for up to four or five years. According to a press statement from ACKO, the comprehensive plan also protects EV parts in addition to the battery and is transferable to a new owner in the event of a sale, increasing resale value. The insurance programme, which was created in partnership with <a href="https://olaelectric.com/experience-centres/book-appointment?utm_source=google&amp;utm_medium=cpc&amp;utm_campaign=delhi_search_ads&amp;gclid=CjwKCAjw3POhBhBQEiwAqTCuBphqEF8QVrPn5oDauxp783gXeGemGO_11noOjbiSyF0ayjx4_OL_9xoCzoIQAvD_BwE" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(17, 85, 204);">Ola Electric</a> and <a href="https://www.atherenergy.com/" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(17, 85, 204);">Ather Energy</a>, is a component of ACKO's larger ambition to build an EV infrastructure by working with OEMs and offering clients complete insurance packages. "The Indian journey of the EV is a tale of relentless expansion, which has fueled consumer desire for tailored protection solutions”. 79% of the respondents to our research report indicated a need for these solutions, according to Das. The report also highlighted the desire of 67% of EV owners to get an insurance policy to go along with their vehicles. According to ACKO, "This will alleviate the current annoyances and result in a radical disruption in the rapidly developing EV industry." According to a statement from the insurer, ACKO intends to keep upsetting the EV market by launching cutting-edge solutions and investigating joint ventures with a number of other OEMs to provide comprehensive coverage for EVs. With EV sales surpassing 10 lakh units in FY23, India's EV industry is booming thanks to strong demand. In FY23, <a href="https://evindia.online/scooter" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(17, 85, 204);">two-wheelers </a>accounted for the majority of EV sales. The Society of Manufacturers of Electric Vehicles (SMEV) claims that manufacturing has slowed as a result of FAME-II subsidy disbursement delays. The subsidy supports the production of 10 lakh electric <a href="https://evindia.online/bike" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(17, 85, 204);">two-wheelers,</a> 5 lakh <a href="https://evindia.online/vehicles?type=4" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(17, 85, 204);">electric three-wheelers</a>, 55,000 <a href="https://evindia.online/vehicles?type=3" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(17, 85, 204);">electric four-wheelers</a>, and 7,000 buses by allowing on-road pricing to be reduced by about 35%. Under Fame-II, an additional 10,000 crore has been set out for EV charging stations. At least 64 EV manufacturers had signed up to earn subsidies as of October 2022.

The first-ever policy on battery insurance ensures performance coverage for up to 60,000 km and protects battery life for up to four or five years.

ACKO General Insurance launches this move to increase EV's affordability

The policy allows banks to extend loan terms and decrease monthly payments to increase the affordability of EVs.

ACKO announces insurance for EV batteries 

A MOU was signed between a Tata Group subsidiary, Tata Agratas, and the Gujarati government to establish a gigafactory for the manufacture of lithium-ion batteries.  | EV Marketplace

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EV sector of Gujrat will receive Rs 13,000cr investment from Tata Group

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