Ola announced the launch of its month-long Ola Bharat EV Fest, a nationwide celebration of embracing EVs with a range of offers from the EV manufacturer, including a 5-year Battery Warranty, exchange bonuses, and finance offers. 

OLA records 24000 E-scooter sales amid festive season 

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With a 2.5X increase in sales over the same period last year during Navratri and Dussehra, Ola anticipates that the sales momentum will carry over into the festive season, with a spike in volumes in the coming months. According to Vahan statistics, <a href="https://evindia.online/electric-vehicle-companies/ola-electric-ev" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(17, 85, 204);">Ola Electric</a> became the first <a href="http://www.evindia.online" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(17, 85, 204);">EV</a> startup in India to sell more than 2 lakh electric scooters in 10 months during the month of CY2023. Compared to the same period last year, when it achieved one lakh revenues in just ten months of existence, the firm has grown by more than 100%. The electric vehicle manufacturer recently declared the successful completion of its financing and equity round, headed by Temasek and included project loans from the State Bank of India and Temasek-led brand investors, respectively, raising Rs 3,200 crore. The money obtained will go towards building India's first lithium-ion cell manufacturing plant in Krishnagiri, Tamil Nadu, as well as expanding the company's electric vehicle business. By increasing its 2W production capacity, introducing <a href="https://evindia.online/electric-two-wheelers" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(0, 0, 0);">electric two-wheelers</a> first, then electric automobiles, and expediting the building of the Gigafactory, the business hopes to boost its growth. On October 16, Ola announced the launch of its month-long Ola Bharat EV Fest, a nationwide celebration of embracing electric vehicles with a range of offers from the EV manufacturer, including a 5-year Battery Warranty (worth up to Rs 7,000), exchange bonuses (up to Rs 5,000), and finance offers with interest rates as low as 5..99 per cent, zero down payment, no-cost EMI, and zero processing fee. Additionally, consumers who test-ride Ola scooters throughout the holiday season will have the opportunity to win one S1 X+ every day in addition to other exciting prizes like Ola Care+ discount vouchers and instant savings on the purchase of the brand-new S1 Pro (2nd Generation). Additionally, the firm is extending its "5-Year Battery Promise" programme to include scooters from its current range (S1 Pro, S1 Air, and S1 X+), delivering a complimentary five-year extended battery warranty.&nbsp;

OLA records 24000 E-scooter sales

Prashant

“Are we one” to join the revolution? Asked Revolt Motors on Tuesday while launching its all-new electric bikes RV1 and Rv1+. Starting from only Rs 85,000, the launched vehicles are expected to complete the company’s fleet by tapping the affordable price range and family-ride market.&nbsp; The company has already started pre-booking for the ride with a token amount of Rs 499 and surprisingly, the waiting time has been kept to only 10 days.&nbsp; Launched, reportedly, as India’s first electric commuter bike with reverse mode, Anjali Rattan, Chairperson, of Rattan India Enterprises Limited claimed that the bike is one of its kind. In talks with EVINDIA, the Chairperson said, “We are right now the number 1 electric motorbike company of the country and for the next 5 years, our aspiration is to be number 1 in terms of sales, service and new product launches.” When asked about the difference between the company’s previous offering and the new launch, the chairperson remarked, “It (the new vehicle) is more like a commuter and a family bike which is pocket-friendly as well.” The entry-level electric bike RV1 will be available in a 2.2kwh variant and cost Rs 84,999, meanwhile, the RV1+ will come with a 3.2kwh battery and cost Rs 99,999. The RV1 ride can get charged from 0 to 80% in just 2 hr 15 min whereas the RV1+ will take 3hrs 30mins. Interestingly, the fast charging feature in the RV1+ can reduce the charging time to as low as 1hr 20 mins, making the bike stand out in the EV market. <img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdgd_Jgk2mu-IXhvydkr7JtWVuMndyM92r7LMDWK4oG1BVtAWHcyG-4Wgan8w_xRLPbJWmmJ_8GX630f4rwD6y2b7cSc2W2SUGl3fmb4N5RBszRU69Ggjw-M-Y73D2JRM2zNu2zUJlgbKMQ2wh8pDLq-v-b?key=S-w8f29kBbmKCzJsL9Nfyg" height="423.97310513447434" width="582"> Both vehicles have the same top speed of 70kmph and can produce a peak power of 2.8 kW. However, RV1 has an IDC range of 100 km and the RV1+ model provides a range of 160 km.&nbsp; Like the company’s previous offering, the newly launched vehicles will also feature portable batteries, fixed right before the handles similar to conventional fuel tanks. RV1 and RV1+ feature dual disc brakes, a premium chain drive system, a built-in storage box, round LED headlights, and a 6-inch display with Eco, City and Sports modes.&nbsp; In aesthetics, the company has given a straight seat to the vehicle underlining a family-ride utility.&nbsp; Moreover, the RV1 and RV1+ feature a twin shock suspension at the rear and a telescopic suspension at the front. Both vehicles weigh 108 kg and have a payload capacity of 250 kg. With 180mm ground clearance and 790mm seat heights, the vehicles come with a combi braking system, ensuring riders' safety.&nbsp;

The company has already started pre-booking for the ride with a token amount of Rs 499 and surprisingly, the waiting time has been kept to only 10 days. 

Revolt motors unveil RV1 and RV1+

Revolt motors unveil RV1 and RV1+: All you need to know

Wings EV, on Friday, announced to launch its all-new electric microcar called Robin. The Indore-based company intends to create a new class of automobiles in the Indian market by launching the electric microcar with a two-seater capacity and manoeuvrability of a motorcycle. Found by a father-son duo, the company intends to launch the Robin in Bengaluru in April 2025. The step is expected to enhance “ reduced congestion, personal commuting with zero pollution, and minimal road space usage,” as per Pranav Dandekar, CEO, and co-founder. According to Stanford University alumnus and PhD candidate in computer science Pranav Dandekar, Robin has passed every safety test run by ARAI Pune, making it safer than any two- or three-wheeler now available on the market.&nbsp; “We aim to sell 3,000 units in the first year, with our Indore plant capable of producing 10,000 units annually,” citing Dandekar, the machine maker reported. The CEO of Wings EV said that the company has raised money from a number of sources, including Venture Highway and several well-known angel investors from Silicon Valley and India. Dandekar, who worked in Silicon Valley for 17 years, added that the business did more than 300 test drives in Bengaluru and conducted user research in six Indian cities. Before becoming national, Robin would first be launched in Chennai, Hyderabad, or Pune later in 2025. "We intend to begin shipping in April 2025. We can see what our first manufacturing batch will look like based on the orders we now have. We could think about establishing a production facility there if there is a lot of demand in the southern markets,” Dandekar said. Robin is scheduled to be available in three different variants including a basic 65 km range non-AC model priced at ₹2 lakh (ex-showroom), a mid variant with a fan and 90 km range priced at ₹2.5 lakh, and a luxury variant priced at ₹3 lakh that comes with a 90 km range, AC, and proprietary auditory alarm systems for increased safety. With most flyovers lying between 3 and 4 degrees, the fully loaded Robin can climb a 12-degree rise, surpassing the necessary 7 degrees, as reported by Dandekar. India buys more than 18 million motorcycles a year, according to Wings EV co-founder and CTO Prakash Dandekar. "A large percentage of two-wheeler buyers may switch to two-seater microcars in the next 15 to 20 years," stated the CTO, who formerly oversaw Tata Technologies' Embedded Systems and Telematics Division. He also mentioned that Robin has a drive-by-wire powertrain, which is comparable to the fly-by-wire systems seen in cutting-edge aeroplanes.

Robin is scheduled to be available in three different variants including a basic 65 km range priced at ₹2 lakh (ex-showroom), a mid variant and 90 km range priced at ₹2.5 lakh, and a luxury variant priced at ₹3 lakh that comes with a 90 km range.

Wings EV to unveil ‘India’s First Electric Micro-Car’

Wings EV all set to unveil ‘India’s First Electric Micro-Car’

Tesla, a leading electric car manufacturer, looks to have abandoned its intentions to establish a factory in India.&nbsp; Following the cancellation of Elon Musk's planned trip to India in April of this year, Bloomberg reported, citing sources, that Tesla executives had ceased communicating with Indian officials.&nbsp; According to the article, Indian officials do not anticipate that the EV giant will really make the projected investments in the nation. The report states that Musk's team has not gotten in touch with Indian officials again. Additionally, local officials were informed that Tesla was having financial difficulties and that it had no immediate plans to make new investments in India. To increase EV manufacturing in the nation, the Centre is allegedly now depending on homegrown legacy automakers like Tata Motors and Mahindra &amp; Mahindra. In the event that the EV manufacturer revives ambitions to open a facility in the nation, the article stated that Tesla would still be "welcome" to take advantage of the new import tax regime.&nbsp; The announcement was made by Musk in April, two months before he was supposed to meet with Prime Minister Narendra Modi and reveal Tesla's intentions to join the Indian market. But a few days later, Musk made the trip to China, which threw further ambiguity into the proceedings. After tense negotiations between the EV giant and Indian regulators for a whole year, Tesla has shown less interest in the country. Before his trip was postponed, rumours circulated that the carmaker wanted to commit $2 billion to build an assembly plant in India that would construct Tesla vehicles that cost less than INR 20 lakh.&nbsp; Prior to Musk's arrival, the Centre revealed a new EV policy that provided lower import tariffs to international automakers that agreed to build a manufacturing facility in India within three years and invest at least $500 million (INR 4,150 Cr). It was revealed in April that the Musk-led EV business intended to create new, reasonably priced cars using its current facilities instead of investing in the construction of new ones in India. The most recent development coincides with an increase in EV adoption in India, mostly due to sales of electric two- and three-wheelers. In the meantime, sales of electric vehicles (EVs) in the nation increased 21% YoY to 40,663 units in the first half of 2024. The great bulk of the Indian EV industry is yet unexplored, despite the rise. According to a survey, just 1.3% of all automobiles sold in the nation last year were electric vehicles. Because of this, there is a lot of room for expansion, and established companies like Tata and Mahindra have started to introduce a number of new EV-focused products. The expanding Indian EV industry, which is anticipated to reach a $150 billion market size by 2032, is at the centre of it all.

Recent report has stated that Musk's team has not gotten in touch with Indian officials again. Local officials were informed that Tesla was having financial difficulties and that it had no immediate plans to make new investments in India.

Tesla’s plan to come to India cancelled

Report: Tesla’s plan to come to India cancelled?

Prashant Sha

Tata Motors is moving its emphasis in the electric vehicle (EV) sector from early adopters to wider market growth tactics, citing the group CFO PB Balaji, Moneycontrol reported. The plan is to concentrate on removing obstacles that electric vehicle purchasers must overcome, such as the total cost of ownership and the availability of charging infrastructure. The business is hopeful about reaching this milestone in the current fiscal year, even though it missed its goal of selling one lakh passenger electric vehicles in FY24. Balaji said that Tata Motors is leaving its options open with regard to production decisions for its subsidiary Jaguar Land Rover (JLR) and incentives under India's new EV policy. Balaji underlined Tata Motors' dedication to EV development during a conference call for results, including intentions to introduce the Curvv EV as part of their approach. While the number of early adopters is decreasing, he pointed out that a new generation of consumers needs assurances about things like total cost of ownership, model diversity, and charging infrastructure.

Balaji underlined Tata Motors' dedication to EV development during a conference call for results, including intentions to introduce the Curvv EV as part of their approach

Tata Motors all set to develop Indian EV market

Tata Motors all set to develop Indian EV market, plans to overcome impediments

A financial technology business called Rupyy, which is a subsidiary of the CarDekho Group, has entered the market for financing <a href="https://evindia.online/" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(17, 85, 204);">electric vehicles</a>. To meet the rising demand for EV finance, the firm claims it has worked with top OEMs and multi-brand outlets (MBOs) in the EV market, including Tork, Pure EV, Trinity, Blive - MBO, Electric One - MBO, Jitendra EV, Hero MotoCorp, Hero Electric, Hop Electric and Ampere,&nbsp; It states that the typical EV loan term is between 12 and 48 months. It recognises the wide range of demands of consumers and provides EV loans along with adaptable repayment choices to fit different financial situations. Rupyy intends to develop plans with reduced EMIs by utilising longer tenures or other cutting-edge methods, in line with customer desires, because it recognises the importance of affordability.&nbsp;For a limited number of EV buyers, Rupyy claims it would finance up to 100% of the on-road pricing. “We have been on a quest to make auto financing available to every Indian and to radically simplify the buying process,” stated Namit Jain, Co-Founder &amp; CEO of Rupyy. He said, "After making a groundbreaking effect in the field of used automobile loans, expanding into the field of EV finance, particularly for <a href="https://evindia.online/scooter" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(17, 85, 204);">two-wheelers</a>, seems like a logical next step in our efforts". With about 4% of the two-wheeler market already embracing electric alternatives, EV adoption is already well underway. Rupyy wants to reimagine how finance works in the sector while placing the customer at the centre of everything. Also, for the foreseeable future, Rupyy wants to take 10% of the market for EV financing.

To meet the rising demand for EV finance, the firm claims it has worked with top OEMs and multi-brand outlets (MBOs) in the EV market

Rupyy enters EV financing industry

EV financing Industry welcomes Rupyy with objective to acquire 10% market share

<a href="https://musashi.co.in/" rel="noopener noreferrer" target="_blank" style="color: rgb(0, 0, 0); background-color: transparent;">Musashi Auto</a>, a Japanese maker of auto components, stated on Friday that it will invest Rs 70 crore to enter the Indian <a href="www.evindia.online" rel="noopener noreferrer" target="_blank" style="color: rgb(0, 0, 0); background-color: transparent;">electric vehicle</a> (EV) industry. The business has entered the e-mobility market through a partnership with Bharat New Energy Company (BNC). BNC Motors and Musashi will work together to expand into the EV industry. In the initial stage of this project, the business would invest Rs 70 crore and concentrate on setting up an assembly line at its manufacturing site in Bengaluru. CEO of Musashi Seimitsu Industries' India and Africa area, Toshihisa Otsuka stated, "We have been working with our strategic partner for more than a year. He attended the Bengaluru product launch and reveal for BNC. A wholly-owned subsidiary of Musashi Seimitsu Industries in Japan, Musashi Auto Parts India produces gearbox parts for two- and four-wheel vehicles driven by internal combustion engines (ICE). It will start producing the e-Axle at its Bengaluru facility in October. The installation of an assembly line at Musashi Auto's production facility in Bengaluru would be funded by a 70 crore rupee investment. Due to the Centre's severe implementation of FAME II subsidies, Musashi Auto and BNC Motors have partnered. It aims to encourage businesses to use sustainable business practices in the automobile industry.

In the initial stage of this project, the business would invest Rs 70 crore and concentrate on setting up an assembly line

The business has entered the e-mobility market through a partnership with Bharat New Energy Company.

The business has entered the e-mobility market through a partnership with Bharat New Energy Company .

Japanese OEM- Musashi Auto, invests Rs 70-cr into Indian EV market

The ePluto 7G PRO has nearly identical body panels and LED headlights to the original ePluto 7G and shares the same vintage styling

The EV matches that in the ecoDryft e-bike, which cost Rs. 1.14 lakh (ex-showroom)

Pure launches all-new ePluto 7G PRO: Prices starting from 99,999

The US Treasury Department announced on Wednesday that it would publish guidelines the following week on the sourcing requirements for tax subsidies for batteries used in <a href="https://evindia.online/" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(17, 85, 204);">electric vehicles</a> under President Joe Biden's climate change legislation. This is the first of a series of eagerly awaited regulations that will establish how widely the credits can be applied. The <a href="https://www.whitehouse.gov/cleanenergy/inflation-reduction-act-guidebook/" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(17, 85, 204);">Inflation Reduction Act</a>, which was signed into law last year, contains hundreds of billions of dollars worth of incentives. The car, battery, and renewable energy sectors have been waiting for clarification on complicated issues governing eligibility. The Treasury will issue guidance on bonus tax credits for clean energy projects located in communities dependent on fossil fuels, those constructed using domestic equipment, and those paying workers prevailing wages and hiring apprentices after outlining battery sourcing rules, according to officials. Additionally, it will provide instructions on how to offer tax credits and make them refundable so that organizations without a tax liability can utilize them. When the announcements for the future guidelines would be made was not made clear by the Treasury. Many of the regulations are intended to reduce American reliance on China, which controls the global supply networks for goods like solar panels and EV batteries. These sectors are essential to achieving Biden's objectives of decarbonizing the US economy and combating global warming. For instance, the IRA specifies that a $7,500 electric vehicle tax credit is only applicable to North American-built cars that adhere to certain regional standards for battery production and mineral extraction processing. Treasury decided in December to delay issuing proposed guidelines on battery sourcing rules until March. As a result, some <a href="https://evindia.online/vehicles" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(17, 85, 204);">EVs</a> that do not meet the new requirements will still be eligible for purchase in 2023 for a few months before the battery rules go into effect. That choice, according to Senate Energy Committee Chairman Joe Manchin, "created an opportunity to circumvent strict supply chain requirements." Half of the EV tax credit is contingent on at least 40% of the value of the critical minerals in the battery having been extracted or processed in the United States or a country with a US free-trade agreement or recycled in North America.

US treasury plans to provide bonus tax credits for clean energy 

US treasury plans EV battery sourcing rules to combat climate change.

After being accountable of 25 per cent of world's CO2 emission, US treasury has decided to combat climate change with promoting EVs in the nation

Ola announced the launch of its month-long Ola Bharat EV Fest, a nationwide celebration of embracing EVs with a range of offers from the EV manufacturer, including a 5-year Battery Warranty, exchange bonuses, and finance offers.   | EV Marketplace

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OLA records 24000 E-scooter sales amid festive season

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electric two-wheelers

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