The update is likely to increase the country's yearly storage battery manufacturing capacity by around 50% to 120 gigawatt-hours (GWh), up from the present 80 GWh.

Japan to roll out $2.4 bn subsidies to support EV battery manufacturing

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Japan pledges to roll out $2.4 billion worth of subsidies for electric-vehicle battery manufacturing to support projects by Toyota Motors and many more companies who are seeking to make their battery supply chain stronger.&nbsp; According to Minister of Economy, Trade, and Industry Ken Saito, the government would provide up to 350 billion yen ($2.44 billion) in support for 12 projects involving storage batteries, their parts, materials, or production equipment. "We hope that these efforts will strengthen Japan's storage battery supply chain and the storage battery industry's competitiveness," Mr. Saito said. The update is likely to increase the country's yearly storage battery manufacturing capacity by around 50% to 120 gigawatt-hours (GWh), up from the present 80 GWh, according to Japanese media reports. The government's aid includes Toyota and Nissan Motor's investments, as well as collaborative initiatives between Panasonic Holdings' energy business and automakers Subaru and Mazda Motor, Saito further underlined. The update comes after the government offered about $1 billion in subsidies for storage battery manufacture in June of last year, with the first batch set to begin in April 2023. Toyota will invest around 245 billion yen alongside its battery subsidiaries, Prime Planet Energy &amp; Solutions and Primearth EV Energy, to increase solid-state and prismatic battery production capacity by 9 GWh, according to the industry ministry. According to reports, Toyota will begin shipment of the batteries in November 2026. According to the Yomiuri newspaper, the idea is to develop battery facilities in the prefectures of Hyogo and Fukuoka. Nissan announced in a statement that the government has approved their proposal to build lithium-iron-phosphate batteries. The automaker planned to install such batteries in mini-vehicles beginning in the fiscal year 2028, with a domestic manufacturing capacity of 5 GWh per year and up to 55.5 billion yen in assistance, according to the statement. Moreover, Panasonic's energy unit, which manufactures batteries for Tesla, and Subaru said in a joint statement that they will establish a factory in Gunma prefecture, north of Tokyo, to provide cylindrical lithium-ion batteries beginning in the fiscal year 2028.

Japan to roll out $2.4 bn subsidies 

Prashant

Indian and European startups in the field of recycling electric vehicle batteries are leading the way to innovation and fostering business partnerships, the government has said.&nbsp;&nbsp; Underlining the importance of recycling EV batteries and the collective commitment of India and the EU towards sustainability, and innovation, the principal scientific adviser to the government held a meeting with battery recycling technology startups from EU member states, members from selected Indian startups and officials from the delegation of EU to India. The Principal Scientific Adviser to the government, Professor Ajay Kumar Sood,&nbsp;stated that this collaboration "opens up new opportunities for technology transfer, market access, and co-development. It is essential for fostering economic resilience and sustainable development," DTNEXT reported. The meeting held in the national capital was facilitated by the India-EU Trade and Technology Council (TTC) Working Group 2 (WG2). Citing Dr Ewa Suwara, Deputy Head of the EU delegation to India, DTNEXT further reported, "With the help of the Trade and Technology Council, we are able to help EU and Indian startups join forces, pioneer innovation, foster business collaboration, and drive market uptake of cutting-edge technologies" The discussion focused on the progress made in encouraging collaboration between Indian and European companies in the important field of EV battery recycling solutions. BatX Energies, Evergreen Lithium Recycling, LW3 Pvt Ltd, and Lohum were among the Indian firms that competed, while Ecomet Refining and Eneris were from the European Union. Ursula von der Leyen, President of the European Commission, and Prime Minister Narendra Modi jointly unveiled the India-EU TTC in April 2022. Established in February 2023, this mechanism enables both parties to address difficulties at the intersection of commerce, trusted technology, and security, while also deepening collaboration in these areas.&nbsp;

The meeting held in the national capital was facilitated by the India-EU Trade and Technology Council (TTC) Working Group 2 (WG2).

India-EU business partnerships to push for EV battery recycling: GOV

MG Motor India has observed a decline of 8.7% in its year-over-year (YoY) growth with the company’s sales going down from 5,012 to 4,572 units of EV sold. With the Comet and ZS EV from MG accounting for almost 1,500 of the total units sold in July, the company's electric cars continue to enjoy great consumer acceptance in the market for new energy vehicles (NEVs). Recently, the company in collaboration with JSW group introduced its third electric car in the Indian EV industry– MG Windsor, a cross-over vehicle which is sold under the name of Wuling Cloud EV in Indonesia. The vehicle comes in two battery choices—37.9kWh and 50.6kWh—and is available for the worldwide market. These options supply power to an electric motor with a front axle positioned to produce 134 horsepower. The latter provides a range of 460 kilometres, whilst the former claims to have a 360 km range. However, it is still not clear which of the variants will be available in India. Although the exact launch date is unknown, the MG Windsor will have an in-car 'Hello Jio' voice assistant system that supports multiple Indian languages, including English, Hindi, Marathi, Gujarati, and Tamil, as well as the MG App Store integrated into its infotainment system. It is also revealed that the Windsor will have home-to-car capability.&nbsp; As part of its "DriEV Bharat" initiative, MG also unveiled a new charging app called "eHUB" in addition to the MG-Jio Innovative Connectivity Platform (MG-Jio ICP), which houses the MG App Store. eHUB is a one-stop shop for public EV charging and seeks to simplify the process of finding, booking, and paying for charging stations. You may now download the app from the Apple App Store and Google Play. Project REVIVE and EVPEDIA are two further technologies centred around electric vehicles that were unveiled during the occasion.&nbsp;

With the Comet and ZS EV from MG accounting for almost 1,500 of the total units sold in July, the company's electric cars continue to enjoy great consumer acceptance in the market for new energy vehicles (NEVs).

MG Motor observes 8% decline in YoY sales data

In the latter quarter of the current fiscal year, Hyundai Motor India Ltd. plans to launch four electric car models, including the Creta EV, according to the company's first IPO paperwork filed with SEBI. To improve the electric vehicle (EV) lineup's pricing competitiveness, the business intends to give local production capabilities for vital parts including cells, battery packs, power electronics, and drivetrain top priority. Creating a regionalised EV supply chain is another priority. Hyundai Motor India Ltd (HMIL) declared in its draft red herring prospectus (DRHP) that it will monitor the Indian market needs to adjust its EV launch timeline and bring appropriate EV models to a range of pricing points. "We are putting our transition strategy into action, starting with the launch of high-end, premium EVs, to move towards mainstream markets as India's EV industry and ecosystem grow. By the latter quarter of fiscal 2025, we want to introduce four EV models, including the Creta EV, as part of this goal, the business said. The IONIQ5 and Kona Electric, two EV models that HMIL currently sells in India, are priced at about ₹45 lakh and ₹24 lakh, respectively. The business stressed that building local manufacturing capabilities for vital parts like cells, battery packs, power electronics, and drivetrains, as well as creating a regionalised EV supply chain, will be the key to improving the price competitiveness of its EV range. To assemble EV batteries, HMIL has leased a section of its Chennai Manufacturing Plant to Mobis, a company within the Hyundai Motor Company (HMC) group. This calculated action seeks to source locally made components in order to lower import prices for battery packs. The statement said, "We also plan to localise the EV supply chain by partnering with local and international vendors of EV power electronics." It further mentioned that HMC and Exide Energy Solutions Ltd. have formed a strategic partnership in 2024 to assist localised battery manufacture and delivery in India. In a similar vein, HMIL stated, "We are now investigating a number of strategic partnerships for the development of batteries. We believe that expanding our market presence and diversifying our selection of passenger vehicles will be achieved by bringing in EV models that are made domestically." The company's short-term goals include moving to a specialised electric vehicle (EV) platform to save expenses and stepping up localisation efforts to be eligible for production-linked incentive (PLI) subsidies.

Hyundai Motor India Ltd (HMIL) declared in its draft red herring prospectus (DRHP) that it will monitor the Indian market needs to adjust its EV launch timeline and bring appropriate EV models to a range of pricing points

Hyundai plans to unveil Creta EV

Hyundai plans to unveil Creta EV and 3 new models by year-end

Prashant Sha

Following years of waiting, Xiaomi CEO Lei Jun finally introduced the company's first <a href="https://evindia.online/electric-cars" rel="noopener noreferrer" target="_blank" style="color: rgb(31, 31, 31);">electric car,</a> the SU7, at a Beijing event hosted on Thursday. The SU7 is dubbed as the "dream car" that Xiaomi has patiently built over the last three years, according to Jun. The SU7 is positioned as a full-size, high-performance eco-tech sedan, with dimensions of 5 metres in length, 2 metres in width, and a 3 metre wheelbase. As per the EV experts, the all-new vehicle aims to combine style with utility while making the “most affordable” factor a USP. "We want it to be the most stylish, most convenient to drive, most intelligent car under $500,000, and it must also be a high-quality vehicle." "We built this dream car for our friends," Lei Jun announced during the launch. Further citing Jun, India Today reported, "This is a full-size high-performance eco-tech sedan which is 5 metres long, 2 metres wide and has a wheelbase of 3 metres." In terms of cost, Lei Jun revealed that the base version of the vehicle retails for 215,900 yuan (about Rs. 24 lakh) in China. Furthermore, the Pro and Max variants of the automobile would cost 245,900 and 299900 yuan, respectively. In terms of features, the Xiaomi SU7 is available in nine different hues. Xiaomi unveiled the automobile in three different colour variations at last month's MWC in Barcelona. Six more alternatives are now available. There is a 220kW rear-wheel drive motor included with the SU7. The E-motor HyperEngine V8s stand out in particular because they have a maximum motor speed of 27,200 rpm, which allows them to produce a powerful 425kW of output and a peak torque of 635Nm. As previously announced by Xiaomi, this broke the world record for E-motors, enabling the automobile to reach 100 mph in under 5.3 seconds. The fastest version of the vehicle, on the other hand, is said to be able to accelerate from zero to one hundred kilometres per hour in just 2.78 seconds, with a maximum speed of 265 kmph. Additionally, the vehicle has two engines that provide 637 horsepower and 838 newton metres of turbopower. Furthermore, SU7 is based on an 800-volt design, which is akin to that of Tesla's Cybertruck. The SU7 from Xiaomi has striking design elements as well, such as its stylish concealed door handle, halo tail lights, and slim water-drop headlights. There is a multi-screen, futuristic cockpit with high-tech equipment within. Running on Xiaomi's Hyper OS, the vehicle interfaces with the company's other products, such as phones and tablets, with ease. Moreover, you may expect a range between 700 and 900 km on a single charge, depending on the model. With an impressive 830 miles of range, the SU7 Pro surpasses the 700 km of the standard model. The SU7 Max has a range of around 900 kilometres. The SU7 has technologies including Super-Res Occupancy Network Technology, Road-Mapping Foundational Model, and Adaptive BEV Technology that let it drive itself. The car is powered by two high-performance NVIDIA Orin chips. The electric car is equipped with LiDAR, eleven HD cameras, three millimetre-wave radars, and twelve ultrasonic radars. The inside has a 56-inch HUD (heads-up display), a 7.1-inch spinning dashboard, and a 16.1-inch 3K central console. Passengers can install two iPads on the back seats for more convenience. It is anticipated that the car’s lower price is a product of the Chinese government subsidies and the company’s marketing technique to attract customers. Meanwhile, the SU7 electric car will compete against EV market giants of China such as BYD’s RWD variants that range from Rs 22.5 lakhs to 28.2 lakhs or BYD’s Seal AWD 82 which costs around Rs 32.9 Lakhs. However, as per earlier reports, the higher-end SU7 Max model would use nickel- and cobalt-based lithium batteries from CATL, while one type of the SU7 will use lithium iron phosphate batteries from BYD.

In Beijing, China, Xiaomi introduced the SU7, its first electric vehicle. With a price tag of 300,000 yuan, the automobile has an autonomous driving range of 700 to 900 km.

Xiaomi launches its first e-car– SU7

Xiaomi launches its first e-car– SU7: Most affordable EV in the premium segment? 

<a href="https://evindia.online/electric-vehicle-companies/ola-electric" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(17, 85, 204);">Ola Electric</a> said on Monday that, as of December 2023, 30,219 electric scooters have been sold in India. The ride-hailing app that evolved into an <a href="http://www.evindia.online" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(17, 85, 204);">electric vehicle</a> manufacturer said that it has a 40% market share in India's electric two-wheeler industry. Ola Electric further stated that its highest-ever monthly registrations were recorded in December 2023. In an official statement, the electric two-wheeler maker stated that, in comparison to the same month the previous year, its sales increased by an astounding 74% in December 2023. Additionally, the firm reports that, as compared to the October–December quarter of 2022, it had a 68% boost in sales with 83,963 units in the most recent quarter that ended in December 2023. Additionally, according to the EV maker, 2.65 lakh electric scooters were sold in 2023. In addition, Ola Electric asserted that it had achieved a significant milestone by being the first business in the sector to manufacture 400,000 electric scooters in just two years. According to Anshul Khandelwal, Chief Marketing Officer of Ola Electric, the company's 'December to Remember' campaign was a huge success, bringing thousands of new consumers into the fold and improving sales performance. "We think that because of our robust product selection, which includes the 51 Pro, S1 Air, and $1X+, we have maintained our market leadership for an additional quarter. Thousands more people have joined the EV family as a result of the enormous success of our 'December to Remember' campaign”, he continued. There are presently five distinct electric scooters available from Ola Electric, each with a different battery choice and version. It offers the S1Pro, S1Air, and S1X Plus models. The company's flagship luxury EV scooter, the <a href="https://evindia.online/product/ola-electric-s1-pro-2nd-generation-ev" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(17, 85, 204);">S1 Pro</a>, costs *174,000 (ex-showroom), while the band's most affordable EV, the S1 Air, is priced at *119,999 (ex-showroom).

The firm reports that, as compared to the October–December quarter of 2022, it had a 68% boost in sales with 83,963 units in the most recent quarter that ended in December 2023.

Ola Electric sells 30,000 e-scooters last month

Ola Electric sets new highest sales record: sold 30,000 e-scooters last month

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

Royal Enfield is in the process to launch its first electric bike by 2025, as the company has recorded significant success in the <a href="https://evindia.online/" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(17, 85, 204);">EV industry</a> up till now. The Chennai-based manufacturers are anticipating high volume for this year, too, the Chief executive of the company, B Govindarajan, stated. We are moving forward with our EV journey and have several concepts that are already far along in the testing process. We have taken a very different strategy to our journey into electromobility, and it has taken us some time to fully grasp the market and trends, he told ET. According to Govindarajan, the motorcycle division of Eicher Motors is actively developing its EV technology and trying to produce a "differentiated motorcycle" with a broad market appeal. According to reports, the first electric bicycle built on its L-platform, code-named L1C, is anticipated in 2025 with an initial volume estimate of 5,000 units annually. With a market share of more than 93 percent in the middle-weight motorcycle category, Royal Enfield is the first traditional motorcycle manufacturer to publicly announce its EV intentions.

Royal Enfield is in the process to launch its first electric bike by 2025

Royal Enfield plans to launch its 1st E-bike.

Shubham

In the struggle to shift the automobile industry towards clean energy, the Uttar Pradesh government last Friday announced no tax policy on the acquisition of <a href="https://evindia.online/" rel="noopener noreferrer" target="_blank" style="color: rgb(0, 0, 0); background-color: transparent;">electric vehicles</a> (EVs). The UP government made this choice while amending the earlier notification. For a maximum of three years, tax and registration costs won't be due. Additionally, this discount will be available for five years on the buying of electric vehicles made right here in the state itself. The government has also instructed all district RTOs to immediately guarantee that the directives are followed. According to the Principal Secretary L Venkateshwar Lu's revised notification, the Uttar Pradesh electric vehicle manufacturing and mobility policy 2022 provides a 100 percent tax exemption on electric cars (EVs) sold and registered in UP from October 14, 2022, to October 13, 2025. In addition, from October 14, 2025, to October 13, 2027, the fourth and fifth years of the policy's application period, a 100% discount will be provided on all sold and registered EVs produced in the state as of the same date. It is also made clear what an EV is intended to accomplish. As a result, all vehicles with electric motors fueled by batteries, ultracapacitors, or fuel cells are referred to as EVs. Strong hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), battery electric vehicles (BEVs), and fuel cell electric vehicles are all examples of these 2-wheelers, 3-wheelers, and 4-wheelers (FCEVs).&nbsp; For the state's millions of current electric car owners as well as potential buyers, this will be a huge relief. Those who bought electric cars after October 14, 2022, and paid tax and registration fees will automatically have their money returned to their accounts. The owner of an electric car needn't exert any effort for this. The owners of electric vehicles in the state are expected to profit from this government action as well. The state government's support will enable them to make significant financial savings. In addition to the federal government, it is probable that the cost of on-road two-wheelers will differ by 15–20,000 rupees and the cost of cars by up to one lakh rupees. This distinction between registration in Delhi and UP is about to come to a stop. Now, both states' prices will be the same. Customers purchasing electric cars in the state will receive a significant subsidy, per the UP EV Policy. The policy states that a 15% subsidy will also be given on the factory price of electric cars bought in the state. For the first 2 lakh <a href="https://evindia.online/vehicles?type=5" rel="noopener noreferrer" target="_blank" style="color: rgb(0, 0, 0); background-color: transparent;">electric two-wheelers</a>, a rebate of up to Rs 5,000 per vehicle, a maximum of Rs 12,000 for the first 50,000 electric three-wheelers, and up to Rs 1 lakh per vehicle for the first 25,000 electric four-wheelers will be offered. The first 400 buses bought in the state will receive a rebate of up to Rs 20 lakh per electric bus. Additionally, a maximum of 1,000 e-goods carriers will receive a subsidy of 10% off the factory price for the acquisition of e-goods pages up to Rs 1,000,000 per vehicle. Additionally, the government will promote the purchase of electric cars by government workers. The state government will also permit workers to accept the advance for this.

the Uttar Pradesh government last Friday announced no tax policy on the acquisition of electric vehicles (EVs).

UP government adopts no tax policy on the purchase of electric vehicles.

The update is likely to increase the country's yearly storage battery manufacturing capacity by around 50% to 120 gigawatt-hours (GWh), up from the present 80 GWh.  | EV Marketplace

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Japan to roll out $2.4 bn subsidies to support EV battery manufacturing

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