Ola will repay the cost of the off-board charger in response to the investigation launched by the Ministry of Heavy Industries

OLA Electric announces reimbursement of Rs 130 crore to their EV charger customers

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<a href="https://olaelectric.com/" rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204);">Ola Electric</a>, a producer of <a href="https://evindia.online/scooter" rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204);">Electric Two-Wheelers</a>, would reimburse consumers for almost Rs 130 crores. Citing anonymous sources, CNBC-TV18 has reported that the corporation has notified the government they will repay the cost of the off-board charger in response to the investigation launched by the Ministry of Heavy Industries into price gouging. According to a government official, "the Automotive Research Association of India (ARAI) will not be taking any further action against Ola Electric, as the company announced in its letter to ARAI dated April 30, 2023, that, of their own accord, they will reimburse the price (approximately Rs. 130 crores) of the off-board charger to all customers who have bought the off-board charger as an accessory when purchasing an Ola S1Pro model scooter from FY 2019–20 until March 30, 2023. Ola Electric's founder and CEO, Bhavish Agarwal, recently informed that the business will comply with any requests made by the government about the investigation and suspension of subsidies. When questioned about the most recent events, the business stated that Ola Electric continues to communicate with the government to find solutions to all problems. The Ministry of Heavy Industries has been investigating Hero MotoCorp, TVS Motor Company, Ather Energy, and Ola Electric as a result of accusations from whistleblowers. The allegations state that all four businesses were charging clients for using the subsidies after they had reached the FAME scheme's Rs 1.5 lakh barrier under the national government. The firms had originally stated that the extra cost was due to the off-board charger and other software capabilities. To be eligible for the programme, Ather Energy and Ola Electric both cut the price of their electric scooters. The price of <a href="https://evindia.online/product/ola-electric-ola-s1-air-4kwh" rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204);">Ola Electric's electric scooter</a> has just decreased from Rs. 1.39 lakh to Rs. 1.24 lakh, inclusive of the cost of the charger and software features. When all customers have received the money they are owed, Ola Electric is also likely to submit an appropriately certified statement to ARAI.

Ola will repay the cost of the off-board charger in response to the  Ministry of Heavy Industries' investigation 

The update came in response to the Ministry of Heavy Industries' investigation 

Prashant

The mobility industry in South and Southeast Asia's growing countries may absorb up to $1.3 trillion in green capital by 2030, with India leading the way, according to a new analysis published on Friday by LeapFrog Investments, Temasek, Mahindra Last Mile Mobility Limited, and Battery Smart. Souleymane Ba, partner and co-head of climate investment strategy at LeapFrog Investments, indicated that they have identified a $1.3 trillion potential for private markets and the impact investing community to transform the future of mobility. According to the study, the cost of owning an electric vehicle is less than that of internal combustion engine counterparts in India. The survey further underlines that electric scooters and three-wheelers are already $40-$112 less expensive per year to acquire than fuel alternatives. "Low-cost electric scooters and three-wheelers are now cheaper to own than internal combustion engine equivalents in India," according to the study. The demand, mainly from first-time buyers, is driving the emerging opportunity. Mahindra believes over 70% of electric vehicle (EV) three-wheeler customers are first-time purchasers from low-income households.&nbsp; Case studies by Mahindra Last Mile Mobility Limited and Battery Smart show that EV production and infrastructure are expanding throughout the area. The potential is being driven by a rise in demand, mostly from first-time buyers. Mahindra believes that over 70% of electric vehicle (EV) three-wheeler customers are first-time purchasers from low-income households. Case studies by Mahindra Last Mile Mobility Limited and Battery Smart show that EV production and infrastructure are expanding throughout the area. However, the study does highlight an urgent requirement for investment in infrastructures like battery-swapping facilities and charging networks that can help thrust this transformation forward. Mobility emissions are 10 per cent of Asia's total greenhouse gas emissions, but 25 per cent of Europe's and 30 per cent of the United States, making fast electrification a necessity as incomes in developing Asia grow, the report said. An increasingly efficient network of battery switching stations, backed up by compatible battery systems from various car manufacturers, has significantly enhanced EV recharging infrastructure.

The study does highlight an urgent requirement for investment in infrastructures like battery-swapping facilities and charging networks that can help thrust this transformation forward.

$1.3 trillion worth opportunity for emerging EV markets

$1.3 trillion worth opportunity for emerging EV markets: Report

To create a smooth, interoperable charging network across the nation, EV companies Trinity Cleantech and Log9, a provider of EV charging services announced a coalition on Saturday. By the conclusion of the following fiscal year, 2,000 public charging stations provided by Trinity will be installed nationwide. As part of the partnership, Trinity's "Thunder" platform will interface with Log9's "Instacharge" platform, simplifying processes and improving user experience, the company said in a statement. Kartik Hajela, Co-Founder and COO of Log9, stated, "Type 6/Bharat LEV DC is emerging as a standard fast-charge protocol for last-mile low-voltage vehicles and Log9 is working aggressively to make sure access to the same is available for their next-gen fast charge battery customers." The 'BCA LEV DC' standard is part of the commitment to interoperability so that users may charge their batteries anywhere with confidence. The businesses intend to accelerate the use of Type 6 fast chargers, which are the next generation of EV standards.

The 'BCA LEV DC' standard is part of the commitment to interoperability so that users may charge their batteries anywhere with confidence. 

Log9 join hands with Trinity Cleantech

Log9 join hands with Trinity Cleantech to establish charging networks throughout India

To revive its failing <a href="http://www.evindia.online" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(17, 85, 204);">EV</a> campaign, Ford is investing in an electric charging firm. To modernise its charging infrastructure and lower the price of its electric cars, the automaker is acquiring Auto Motive Power (AMP), a firm that develops battery management software for electric charging. Insider has confirmation from Ford that the California-based AMP, which also develops drone charging technologies and "hyperloop" transit systems, will become part of the corporation. "AMP is an energy optimisation company that has established an excellent reputation in leading battery management and energy conversion systems and has a pool of skilled engineers and technology that Ford is incorporating and vertically integrating into our EV goals," stated a spokeswoman for Ford. "Ford is committed to helping as many consumers as possible have better-charging experiences and to expedite the adoption of EVs. This action aims to expedite that endeavour while maintaining quality." TechCrunch was the first to report on the AMP arrangement. The announcement that Ford will halt construction on several significant projects, including a new battery facility in Kentucky, and postpone $12 billion in expenditure on electric vehicles before the action. After Ford released its third-quarter earnings, company leaders acknowledged that, despite the company's continued commitment to battery-powered cars, demand had lagged behind projections. Executive chair Bill Ford cautioned last month in an interview with The New York Times that consumers won't pay a high price for <a href="https://evindia.online/electric-cars" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(17, 85, 204);">electric cars</a> and that costs must drop before the auto industry can completely adopt EVs. In response to the declining market for electric vehicles, other automakers have adopted a similarly cautious stance in recent months, with some dropping their lofty goals. GM declared that it will no longer strive to produce 100,000 electric vehicles by the second part of 2023. Mercedes-Clio CFO Harald Wilhelm cautioned that the existing market was unsustainable for many manufacturers and described the EV industry as a "pretty brutal space" to analysts. Nonetheless, Tesla continues to defy expectations that growing competition will undermine its dominance as the largest EV manufacturer in the Western world. Ford and General Motors are among the competitors that Elon Musk's automaker has convinced to use its charging network in the United States. Subaru joined the club on Wednesday, stating that it will start using Tesla's North American Charging Standard for all-electric vehicles in 2025.

The automaker is acquiring Auto Motive Power (AMP), a firm that develops battery management software for electric charging.

 Ford acquires EV charging startup 

 The automaker is acquiring Auto Motive Power (AMP), a firm that develops battery management software for electric charging.

To achieve its electrification objective, Ford acquires EV charging startup 

A new participant in the electric vehicle market has appeared on Bangalore's busy streets: Seltra Automotive. Seltra offers a promising lineup of <a href="https://evindia.online/vehicles?type=5" rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204); background-color: transparent;">electric two-wheelers</a> and batteries designed for both commercial usage and personal use with the goal of changing how we travel throughout cities. The company Seltra was founded by Aniket Patel and Nachiket Morye, who gained experience in the field of electric mobility while working with Bounce. Seltra is prepared to hit the streets with its cutting-edge products.&nbsp; Founded on experience, the creators, who had previously worked for the well-known business Bounce, had direct experience with the difficulties that urban mobility encounters. They stepped up and created a special response to these problems as a result of vandalism, wear and tear, and the need for more durable solutions. Seltra, is reported to have designed an impressive B2B sector vehicle. The fully working <a href="https://evindia.online/scooter" rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204); background-color: transparent;">electric scooter</a> produced by Seltra in 2022 is reported to be a stylish yet durable design model. The scooter will become the preferred option for fleet operators looking to optimise their operations in the city of Bangalore and with growth in the latter stages, as it caters to last-mile delivery expertise.&nbsp; The battery platform, which is the foundation of Seltra's product, is a game-changer in and of itself. Seltra scooters are adaptable travel companions with two battery options. The portable battery pack has an outstanding 50km range and only weighs 7.7kg, making it ideal for commuting within the city. The fixed battery option provides you a significant 180km range if you're considering a longer trip, guaranteeing you won't be stuck. The second battery pack is integrated with a platform for energy that supports quick charging. Range concerns may be eliminated with a simple pit break lasting only 18 minutes and adding 70 km of range. Their batteries are made to sustain 2000–2,500 charge cycles. In order to speed up manufacturing as they prepare for a major launch in January 2024, Seltra is trying to find a million-dollar investment. Seltra is ambitious to produce 30 scooters for the pilot phase and 2,000 scooters by the end of the next year.

The portable battery pack has an outstanding 50km range and only weighs 7.7kg, making it ideal for commuting within the city. The fixed battery option provides you a significant 180km range

Seltra is all set to launch its first E-scooter

Seltra is all set to launch its first E-scooter for B2B Segment: All you need to know

On Tuesday, Vijay Shekhar Sharma said that he would have founded an <a href="https://evindia.online/" rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204); background-color: transparent;">EV</a> company if it weren't for Paytm. At the Global Fintech Fest 2023, a young startup in the crowd asked the founder and CEO of Paytm a question. When asked which industry, outside fintech, he would have picked if he had to start again, Sharma responded, "On this, I had a three-hour talk with my buddy Sachin Bansal when he was leaving Flipkart. I had instructed him to do a financial ecosystem play or an electric vehicle (EV) ecosystem play. Both of them are my bets through 2030 since that response is still accurate today. Vijay Shekhar Sharma stated that he wanted to see India be a leader in sustainable transportation and electric vehicles. The Economic Times reported Sharma as stating, "We can take the lead in electric mobility and become a global reference point." Sharma has shown his enthusiasm for electric vehicles loudly. He even ran into Ola CEO Bhavish Aggarwal in November 2022 at the company's offices, praised the staff, and remarked that their efforts will undoubtedly make the nation proud.&nbsp;At EICMA 2022, a yearly trade event in Milan, Italy, earlier in the month, Ola Electric displayed its S1 electric scooters. At its 'End of ICE Age Event, Part I' in August of this year, <a href="https://evindia.online/company/ola-electric" rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204); background-color: transparent;">Ola Electric</a> revealed a wide range of <a href="https://evindia.online/vehicles?type=5" rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204); background-color: transparent;">electric two-wheelers</a>. During the occasion, Aggarwal pointed out that over the previous two years, India's two-wheeler EV penetration market increased from less than 2 percent to almost 20 percent. "Nobody in India was considering EVs two years ago. Regarding the country's EV market, there was scepticism.” According to him, more than 20% of scooters in India are now electric. He thanked the nation's consumers for starting the EV revolution

Sharma has shown his enthusiasm for electric vehicles loudly. He even ran into Ola CEO Bhavish Aggarwal in November 2022 at the company's offices, praised the staff, and remarked that their efforts will undoubtedly make the nation proud. 

Paytm founder says he would have launched an EV company 

Paytm founder says he would have launched an EV company if he hadn’t launched Paytm

On August 15, <a href="https://evindia.online/company/ola-electric" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(17, 85, 204);">Ola Electric's</a> MoveOS 4 software upgrade will be unveiled. The <a href="https://evindia.online/product/ola-electric-ola-s1-pro" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(17, 85, 204);">Ola S1 </a>electric scooters will advance thanks to this updated software. The electric producer may stick to its custom of announcing many items, though. The software upgrade was announced by Ola Electric via its official X (Twitter) handle, and it will be made public on Customer Day (August 15). With the MoveOS 4 upgrade, the Ola S1 <a href="https://evindia.online/scooter" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(17, 85, 204);">electric scooter</a> series will receive some new features. One of the anticipated improvements is the Concert mode, which is an enlargement of the present Party mode. When the scooter is in Party mode, the lights synchronise with the music. The coordination of lights and music in the upcoming Concert mode may entail a large number of scooters. Ola Electric may expand the scooter's emotional potential by offering consumers a variety of home screen layouts for the digital display. There are now three mood options on the scooter: light, auto, and dark. Ola Maps, a potential navigating tool for the future, is being created by Ola Electric with a lot of effort.&nbsp; Bhavish Aggarwal, CEO of Ola Electric, provided a teaser image of a silhouette in the meantime. It's likely that what's under the hood is an <a href="https://evindia.online/bike" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(17, 85, 204);">electric bike</a> that the business intends to introduce. The new item will assist the maker of electric vehicles in expanding its market into unexplored terrain. The business is now selling Ola S1 Air and Ola S1 Pro electric scooters in India. The S1 Air has a 3 kWh battery pack and costs Rs. 1.10 lakh (ex-showroom) in India. It has a 125 km range. It states that it can reach 90 kmph. Priced at Rs. 1.40 lakh (ex-showroom), the Ola S1 Pro has a 4 kWh battery pack that provides a range of 181 kilometres. The scooter's peak speed is listed at 116 kmph.

Ola electric provided a teaser image of a silhouette in the meantime. It's likely that what's under the hood is an electric bike that the business intends to introduce

Ola Electric plans to release MoveOS 4

Ola Electric plans to release MoveOS 4 software update on Independence Day

Greaves Finance Ltd., the non-banking financial company (NBFC) subsidiary of Greaves Cotton Ltd., has recently introduced "evfin," an innovative financial platform aimed at transforming the landscape of <a href="https://evindia.online/" rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204); background-color: transparent;">electric vehicle</a> (EV) financing and beyond. This move comes at a vital time when the EV business is ready to play a crucial part in the progress to efficient green energy. The domestic EV market is projected to grow at a compound annual growth rate (CAGR) of 49% between 2022 and 2030, as stated in the Economic Survey 2023. According to the survey, India's annual sales of electric vehicles will reach a staggering one crore units by 2030. It is essential to address the entire lifecycle of EV use by consumers in order to accelerate the adoption of electric vehicles and facilitate the transition to sustainable mobility. Recognizing this need, "evfin" has been designed to offer a range of innovative experiences, ensuring an enhanced EV journey throughout the ownership lifecycle by providing accessible and cost-effective financing options. Nagesh Basavanahalli, Vice Chairman of Greaves Cotton Ltd., expressed his enthusiasm for the launch of "evfin" and emphasized the company's commitment to creating a comprehensive ecosystem for diverse last-mile mobility. By introducing this sustainable financing platform on World Environment Day, Greaves Cotton Ltd. is reinforcing its dedication to sustainability and supporting the global efforts towards a greener future. Sandeep Divakaran, ED &amp; CEO of Greaves Finance Ltd., highlighted the significance of "evfin" as India's first consumer finance technology platform fully dedicated to electric mobility and sustainable solutions. With the integration of advanced digital lending capabilities, innovative asset management technology, and a nationwide reach, "evfin" aims to provide an exceptional and tailor-made experience for EV customers. The primary goal is to democratize access to electric vehicles by offering the most cost-effective financing options available in the market. By providing an end-to-end lifecycle experience for EV owners, "evfin" ensures a unique and seamless ownership journey throughout their usage of electric vehicles. <h2>What do we think?</h2> As the demand for electric vehicles continues to rise and the government focuses on promoting clean energy solutions, initiatives like "evfin" play a vital role in supporting the transition to a greener and more sustainable future. Greaves Finance Ltd. is poised to make a significant contribution to this transformative journey by empowering individuals and businesses to embrace electric mobility through their innovative financing platform, "evfin." It is anticipated that the introduction of "evfin" will have a profound effect on the market for <a href="https://evindia.online/company/ampere" rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204); background-color: transparent;">electric vehicles</a> (EVs), making electric vehicles more affordable and accessible to a wider range of customers. The sudden hike in EV two wheeler prices due to the introduction of FAME II this year, is also an issue to be addressed by this innovation. By funding difficulties related with electric versatility, Greaves Money Ltd. is adding to the development and advancement of the sustainable transportation ecological system in India. Other companies should take inspiration from this breakthrough and innovate their own NBFC products that can help consumers to afford an EV with ease. By this way, the EV adoption in India will certainly get a boost.

Greaves Finance Ltd., the non-banking financial company (NBFC) subsidiary of Greaves Cotton Ltd., has recently introduced "evfin," an innovative financial platform aimed at transforming the landscape of electric vehicle (EV) financing and beyond. 

Greaves Finances Ltd. Launches Evfin: A New Breakthrough towards EV Adoption

Greaves Finances Ltd. Launches Evfin

Somsubhra Chowdhury

&nbsp; &nbsp;The automobile market giant <a href="https://ev.tatamotors.com/" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(17, 85, 204);">Tata motors</a>, on February 20, announced to provide 25,000 XPRES-T electric vehicles to <a href="https://www.uber.com/in/en/" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(17, 85, 204);">Uber</a>. The deal is seen as one of the biggest deals in the green mobility field of the Indian market.&nbsp;According to the conglomerate, the signed MOU between the two firms will launch the e-sedans in their premium category.&nbsp;The all-new electric batch will be available in&nbsp;Delhi National Capital Region, Kolkata, Mumbai, Maharashtra, Chennai, Bangalore, and Ahmedabad, the company added.&nbsp;&nbsp;<a href="https://evindia.online/company/tata-motors" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(17, 85, 204);">Tata Passenger Electric Mobility</a> and Tata Motors Passenger Vehicles MD Shailesh Chandra said, ''In line with our commitment to grow sustainable mobility in the country, we are delighted to partner with Uber, India's leading ride-sharing platform.''&nbsp;&nbsp;Individual ride-sharing that is green and clean would catch on faster if Uber's premium category service offered customers ecologically pleasant EV journey experiences. Our market position in the fleet industry will be further strengthened by this cooperation, he claimed.&nbsp;According to Prabhjeet Singh, President of Uber India and South Asia, the firm is dedicated to bringing sustainable, shared mobility to India, and this cooperation with Tata Motors represents a significant step forward in that direction.&nbsp;Up till now, this is the biggest EV relationship between a car manufacturer and an Indian ride-hailing service. It will hasten the transition to zero emissions on the Uber platform as we work to build a sustainable future," he added.&nbsp;&nbsp;For the consumer and fleet markets, Tata Motors has already produced more than 50,000 EVs at its plants. In July 2021, the automaker unveiled the "XPRES" brand, which was developed especially for fleet customers. The first vehicle to sport this brand is the XPRES-T EV.&nbsp;The new XPRES-T electric saloon has two range options: 315 km and 277 km (ARAI-certified range under test conditions). It has a 26 kWh or 25.5 kWh high energy density battery inside, which can be charged normally or fast from zero to eighty percent in 59 minutes or 110 minutes, respectively.&nbsp;It has a single-speed automatic transmission, dual airbags, anti-lock brakes, and an electronic braking system as standard across all variants. It also has zero tailpipe emissions.

 The automobile market giant Tata motors, on February 20, announced to provide 25,000 XPRES-T electric vehicles to Uber.

Tata Motors Singed MOU with Uber: plans to deliver 25,000 XPRES-T electric sedans

Shubham

Ola will repay the cost of the off-board charger in response to the  Ministry of Heavy Industries' investigation   | EV Marketplace

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OLA Electric announces reimbursement of Rs 130 crore to their EV charger customers

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Ola Electric's electric scooter

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OLA Electric announces reimbursement of Rs 130 crore to their EV charger customers

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