 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 

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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 

Prashant

Sk On, the South Korean EV battery maker is in discussion with EV's&nbsp; Orignal Equipment Manufacturers (OEMs) for the production of prismatic batteries, further widening its offering from pouch-type batteries, a senior executive reported.&nbsp; The update came as the company took cautious treads amid the worldwide decreasing demand for EVs. According to SK On chief spokesperson Ko Chang-Kook, several automakers are in talks with SK On, a division of energy group SK Innovation, which provides electric vehicle batteries to Volkswagen, Ford Motor and Hyundai Motor among others. "We are in discussions with automakers who plan to use our prismatic batteries, which means we will soon have the chance to expand the range of products we provide." citing Ko Reuters reported Although Ko would not name the automakers, he did say that the business has completed the development of technology for prismatic batteries and is ready to begin producing it as soon as negotiations are concluded. Currently, three different types of lithium-ion batteries are utilised in electric vehicles (EVs): prismatic, cylindrical, and pouch-type. While they all function essentially the same way, each type has advantages and disadvantages. Batteries, both cylindrical and prismatic, are housed in sturdy cases. However, the pouch kind of battery employs sealed flexible foils. Only pouch-type batteries for EVs are currently produced by SK On. Despite having obtained prismatic battery technology, the company is also aiming to create cylindrical batteries, which are well-known for being the kind that Tesla uses.&nbsp;&nbsp; When asked whether the company is planning to cut capital expenditure due to continuous losses,&nbsp; Ko responded that SK On is not currently considering cutting its capital expenditure for the year, adding that it will not cut research and development spending.&nbsp; The parent company of SK On, SK Innovation, announced earlier this year that it has earmarked almost 80% of its annual capital spending budget of over 9 trillion won ($6.55 billion) for SK On. As EV demand declines, crosstown competitor LG Energy Solution (LGES) said in April that it intends to reduce capital spending this year. In order to improve its operations, LGES suspended a portion of the building of its multibillion-dollar battery factory in the U.S. state of Arizona last month. The company plans to execute planned investments at a flexible pace. SK On stated in April that it remained on course to achieve break-even in the second part of this year. This month, the corporation said that it would freeze the wages of all executives until the company generates a profit, among other general expense reductions.&nbsp; According to reports from local media sites, SK Innovation is anticipated to look into merging with SK E&amp;S, a successful gas affiliate, in order to support SK On. Although nothing has been finalised, SK Innovation announced in a regulatory filing on Friday that it would meet with its board on Wednesday of next week to explore a range of strategic initiatives, including mergers to bolster its competitiveness.

Although Ko would not name the automakers, he did say that the business has completed the development of technology for prismatic batteries and is ready to begin producing it as soon as negotiations are concluded.

SK On plans to manufacture prismatic EV batteries

Through its 100% EV-focused lending platform evfin, Greaves Finance, a non-banking financial company (NBFC) and an entirely owned subsidiary of Greaves Cotton, declared a collaboration with Muthoot Capital Services, one of India's most rapidly-growing NBFCs and a publicly traded company of the Muthoot Pappachan Group. To expand the number of financing options for electric two-wheelers available throughout India, the collaboration will introduce a co-lending programme. The arrangement, which may result in a transaction worth up to Rs 150 crore ($18 million), citing the partners, Financial Express reported. The magnitude of the transaction shows the scale and ambition of the drive to encourage the wider adoption of electric vehicles in India. The announcement came after the government of India’s decision to conclude the FAME-II subsidy program by March 31 2024. Exempted for the FAME-II, the upfront prices of EVs are expected to increase creating a potential market for EV financing companies.&nbsp; Amid the ride of EV finance market, the Muhtoot-evfin partnership demonstrates both organisations' dedication to hastening the adoption of sustainable transportation options, particularly in light of India's increasing demand for electric vehicles (EVs). Through the use of evfin's specialised knowledge of customised automotive financing based on asset lifecycle management and Muthoot Capital's well-established presence in the financial sector, this partnership aims to provide customers looking to buy electric two-wheelers with convenient, cost-effective, and tailored financing options. Greaves Finance CEO Sandeep Divakaran stated, "We are excited to work with Muthoot Capital to offer this revolutionary co-lending arrangement. Through this agreement, we can further demonstrate our commitment to advancing sustainable mobility solutions and to provide our clients with cutting-edge financing choices that adapt to their changing demands.” "We are happy to announce our first venture into an electric two-wheeler partnership," stated Mathews Markose, CEO of Muthoot Capital Services. He further said, "We are excited to collaborate with Greaves Finance, who is a pioneer in this field. This partnership will undoubtedly help us achieve our goal of improving the lives of ordinary people by assuring them of financial security. In my opinion, a two-wheeler is one of the most desired cars among Indian families, particularly those in the lower middle class. Collaborations like this will enable us to get closer to our clients.” The collaboration is expected to face competition from similar partnerships like Ecofy and RevFin. The traditional vehicle financing options available in the market are mostly tailored for ICE vehicles rather than EVs. New finance options in the field of sustainable mobility are expected to foster a free market in the current and future EV market.&nbsp; A wide spectrum of electric two-wheeler manufacturers, such as OLA Electric, Ather Energy, Ampere, Hero MotoCorp, and TVS Motor, would be supported by the cooperation. The programme hopes to provide clients with a variety of alternatives and promote innovation in the electric car industry by working with top OEMs. Through their provision of all-inclusive financing options for electric two-wheelers, the two businesses stand to have significant influence over the trajectory of mobility in India going forward.

The collaboration will introduce a co-lending programme which may result in a transaction worth up to Rs150 crore ($18 million).

Muthoot Capital and Greaves Cotton’s evfin join hands

Muthoot Capital and Greaves Cotton’s evfin join hands to promote electric two-wheeler financing

The US automaker Tesla Inc. is reportedly close to reaching an agreement with India that would allow it to import its <a href="https://evindia.online/electric-cars" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(0, 0, 0);">electric cars</a> beginning next year and build a facility there in less than two years, according to people with knowledge of the Indian government's intentions. A participant, who wished to remain anonymous due to the confidential nature of the discussions, proposed that a declaration may be made during the Vibrant Gujarat Global Summit in January. According to a different source, these regions are being investigated as they have established ecosystems for the export and sale of <a href="https://evindia.online/" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(0, 0, 0);">electric vehicles</a>, including Tamil Nadu, Maharashtra, and Gujarat, the home state of Prime Minister Narendra Modi. According to one source, Tesla plans to invest a minimum of $2 billion in its plants initially and aims to boost its procurement of auto components from the country to as much as $15 billion. The source claims that the US firm would also like to save expenses by manufacturing certain batteries in India.&nbsp; The individuals said that plans are subject to change and that no choices have been made in stone. Tesla's CEO, Elon Musk, said in June that the business will be making a "significant investment" in India and that he planned to visit the country in 2024. Representatives from the nation's ministries of finance, trade, and industry as well as the Ministry of Heavy Industries, which oversees the auto sector, did not respond to requests for comments. Furthermore, Tesla did not respond to a request for comments. It would be beneficial for Tesla, which presently has plants in the US, China, and Germany, to expand into the most populated country in the world. There, aspiring middle-class consumers are driving an increasing number of electric vehicles. The Modi administration has been working to promote the quicker uptake of greener mobility and boost domestic EV production. Despite these initiatives, India's EV sector hasn't taken off; according to BloombergNEF, only 1.3% of all passenger vehicles sold last year were battery-powered automobiles. Due to the high initial cost of electric automobiles and the scarcity of charging facilities, buyers are unwilling to switch. Tesla avoids importing vehicles into India directly due to the substantial levies imposed. Some of the participants stated that when the first locally produced automobiles are put up for sale, their retail prices may be as low as $20,000. Trade Minister Piyush Goyal stated in September that Tesla plans to almost double its imports of car components from India to $1.9 billion this year during a visit to the company's Fremont, California, factory earlier this month. Speaking at an event in New Delhi, he revealed that the electric car maker imported $1 billion worth of parts from the nation the year before. Tesla and India, the world's third-largest auto market, reopened negotiations in May following a year-long impasse. After Musk criticised India for its high import taxes and electric vehicle (EV) regulations, the nation told Tesla not to sell cars made in its political rival, China. Recent sources state that if global electric car manufacturers agree to create local manufacturing facilities, India may lower import charges for them for a period of five years.

Tesla plans to invest a minimum of $2 billion in its plants initially and aims to boost its procurement of auto components from the country to as much as $15 billion. 

India-Tesla comes closer in agreemen

 Secret revealed: India-Tesla comes closer in agreement, India to invest $2 billion

Hyundai Motor Group (China), the third-largest automaker in the world, and NaaS, a top provider of <a href="https://evindia.online/" rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204); background-color: transparent;">EV </a>charging services, have teamed together to provide an effective charge management solution for Hyundai automobile customers. Additionally, the agreement between the two organisations will enable new EV charging firms. Hyundai Motor Group's Chinese subsidiary and NaaS collaborated to provide charging services and order management systems for Hyundai vehicles. Owners of Hyundai vehicles may use a smart service App or the centre console to monitor the status of charging and charger installation in real time. According to figures from the China Association of Automobile Manufacturers (CAAM), 9 million electric passenger vehicle sales will be made in China in 2023, with EV penetration predicted to reach 36% annually. In order to fulfil the rising demand for charging, China has increased its investment in charging infrastructure. "Charging facilities as an important part of new infrastructure serves a significant role in improving the penetration of EVs," said Wang Yang, the founder and CEO of NaaS. "Partnered with new energy industry chain players, NaaS will engage users in faster, easier, and more affordable charging service, while collaborating with Hyundai Motor Group (China) to spur the upgrade of charging services." "China is the largest and fastest-growing EV market in the world. The nation excels in the quality of EV services in addition to having remarkable performance in EV sales and the amount of charging infrastructure created. This will serve as a useful point of reference for Hyundai's initiative to advance EV service in the international market|”, Hyuk Joon Lee, President and Head of China Operations at the Hyundai Motor Group, said. He further said that the company will keep expanding and improving charging services through its partnership with NaaS and will give owners of EVs a more practical and modern charging service experience.

CAAM: 9 million passenger EV sales will be made in China in 2023, with EV penetration predicted to reach 36% annually. To fulfil the rising demand for charging, China has increased its investment in charging infrastructure.

NaaS and Hyundai to develop EV charging solutions

NaaS and Hyundai join hands to develop affordable EV charging solutions

Earlier this month, Fisker was supposed to make its debut in India. The US-based <a href="https://evindia.online/" rel="noopener noreferrer" target="_blank" style="color: rgb(0, 0, 0);">EV</a> manufacturer has already announced that it would indeed arrive in September. Fisker said that it will initially only sell 100 Ocean electric SUVs. The business said that it will begin doing local manufacturing in the upcoming years. The electric vehicle manufacturer claims that it can begin shipping the Ocean EV to India in the fourth quarter of the year, which begins around the holiday season. The Ocean Extreme Vigyan will be the name of the forthcoming Fisker electric SUV. The pricing of the restricted quantities will be in line with the European market. The price of the electric SUV is 69,950 euros, which, after an approximate conversion and exclusion of taxes, comes to around 65 lahks. The pricing of the electric SUV starts at $37,499 (about 731 lacks) in the US. The Fisker Ocean SUVs that would be sold in India are going to be made in Austria. Later, the California-based EV firm aims to work with Foxconn to produce its smaller five-seater electric vehicle PEAR in India. The <a href="https://evindia.online/product/ola-electric-ola-s1-air-3kwh" rel="noopener noreferrer" target="_blank" style="color: rgb(0, 0, 0);">Ola S1 Air</a> electric scooter is now being tested in preparation for its July debut. The longest-range Fisker Ocean Extreme SUV comes with a single-charge range guarantee of 563 km, while Ocean Ultra makes a 547 km range claim. On the other hand, the Tesla Model Y has a 531 km range on a single charge. There are three main variations of the SUV. The high-end versions Extreme and Ultra employ nickel-based battery chemistry, while Ocean Sport is the entry-level model and uses iron-based battery chemistry.&nbsp; The range of Ocean Sport is 402 km per charge. Recent News The high-range Fisker Ocean vehicles come equipped with all-wheel drive as standard. The SUVs have a chic appearance and a variety of distinctive characteristics. The top-tier Ocean Extreme electric SYV has a solar roof that is said to be able to power 3,218 kilometres of driving annually. The big 17.1-inch touchscreen entertainment system of the SUV has a Hollywood Mode that flips it from landscape to portrait mode.&nbsp; A US-based EV manufacturer will launch in India with a Tesla-competing electric SUV that has a 563 km range. Tesla Cybertruck might have a strong debut with a range of over 560 km and eventually add an 800 km trim. learn more Additionally, according to Fisker, its Ocean line of SUVs will be able to charge other electric cars and power the owner's home in an emergency.

The Ocean Extreme Vigyan will be the name of the forthcoming Fisker electric SUV. The pricing of the EV will be 69,950 euros, which, after an approximate conversion and exclusion of taxes, comes to around 65 lahks

US-origin EV manufacturer enters India

US-origin EV manufacturer enters India’s market with an SUV

<a href="www.citroen.in" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(0, 0, 0);">Citroen</a> recently launched reservations for the My Ami Buggy <a href="www.evindia.online" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(0, 0, 0);">EV</a> in a few locations, and the ferocious demand caused all of the units made available to be snapped up in a flash. But this is far from the first occasion that this has happened. In the past, the maker sold the model in France, Belgium, and Spain, and each time, all of the units that were on hand were almost immediately snapped up. At the moment, buyers may acquire the Citroen My Ami Buggy in nations including France, Italy, Spain, Belgium, Portugal, the UK, Luxembourg, and Greece. The EV will also travel to Turkey and Morocco for new manufacture. But just a few hundred units are released from each batch of production. Even if the numbers are restricted, the response each time a purchase window is opened is very astounding. But a deeper examination of the My Ami Buggy could indicate the causes. The cost of the My Ami Buggy ranges from 7,790 euros to 10,450 euros (or around 7 lakhs to 9.30 lakhs). The price range alone makes it a very profitable choice. But there are lots to choose from in addition to prices. An ultra-compact car with a left-hand drive option makes this micro EV more amazing. It features a 75 km range on a single charge and a 5.4 kWh battery pack. Additionally, it has a rather low peak speed of 45 kmph. These figures might not seem all that amazing but keep in mind that the vehicle was positioned for large cities where many people depend on speedy transportation. As a result, EVs are not allowed on highways or motorways. At present, there is no indication that Citroen India is considering the model for our shores. This is despite the fact that micro and small EVs like MG Comet and Tiago EVs have been launched here.

 An ultra-compact car with a left-hand drive option makes this micro EV more amazing

The cost of the My Ami Buggy ranges from around 7 lakhs to 9.30 lakhs

The cost of the My Ami Buggy ranges from  around 7 lakhs to 9.30 lakhs

 My Ami Buggy by Citroen got sold out in 10 hours

By switching to a digital vehicle architecture, the latest manufacturer, Chinese <a href="http://evindia.online" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(17, 85, 204);">electric vehicle</a> producer<a href="https://www.heyxpeng.com/" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(17, 85, 204);"> Xpeng Inc</a>, just like <a href="https://www.tesla.com/" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(17, 85, 204);">Tesla</a> is seeking to reduce costs and expedite research and production.&nbsp; The Smart Electric Platform Architecture 2.0 from Xpeng, which was unveiled this week ahead of the Shanghai Auto Show, is essentially built on the same foundation as the Model Y that Tesla has been developing for the past two years. It consists of large, single-piece front and rear underbody castings that are joined in the middle by a sizable battery pack that helps to reinforce the vehicle body structure. The tiny SUV G6, which is the first Xpeng car to utilise the SEPA 2.0 platform, was introduced at this week's Shanghai exhibition and is frighteningly similar in size and appearance to the car Y. According to Xpeng, the G6 will start a little under $30,000, which is over $10,000 less than the least expensive Model Y made in Shanghai. According to market analyst Sandy Munro for Reuters, "It's obvious the design of the (G6) came from the Model Y." This is not unexpected. Elon Musk, the CEO of Tesla, has stated that he is aware that other businesses will emulate him. In addition to competing with more established local manufacturers, such as market leaders BYD and Geely. Nio and Li Auto, six-year-old Xpeng is one of several Chinese newcomers. Xpeng, a Guangzhou-based automaker, is named after its creator and CEO He Xiaopeng, a former leader of Alibaba's Mobile BG division who established the company in 2017. Munro claims that Xpeng's streamlined vehicle platform design, which is essentially a three-piece chassis that is flexible and expandable, appears to have been copied from Tesla. It reduces the need for parts, tools, development, and assembly time. A similar platform might provide Tesla, Xpeng, and other automakers thinking about adopting this strategy with a new tool to help recover profits damaged by recent price wars in China and other regions. This fundamental platform is essential to Tesla's so-called unboxed assembly method, which the carmaker unveiled at its Investor Day on March 1. Tesla executives claimed at the time that the new method would enable the business to drastically reduce its factory footprint and slash production costs in half if it is put into use at its new plant in Mexico early the following year. Within the next two years, Tesla anticipates that the new manufacturing method it is developing around the streamlined platform will allow it to release an electric vehicle for under $30,000. A "smart manufacturing system" will be implemented at Xpeng's factories in Zhaoqing and Guangzhou over the following two years in order to create vehicles based on the new platform. SEPA 2.0 will be implemented across at least 10 future models, beginning in late 2024 with the new G6 SUV. <img src="https://api.evindia.online/uploads/blog/2023-04-19-07-04-16-featured-800x441.jpg" width="660" style="cursor: nwse-resize;">

The Smart Electric Platform Architecture 2.0 from Xpeng  is essentially built on the same foundation as Tesla's Model Y

Xpeng launches Smart Electric Platform Architecture 2.0 

China’s OEM Xpeng follows the footstep of Tesla to make new EV platform

In the last year of the EV boom in India, battery packs have caught on fire, hurting the EV two-wheeler sales in India. Komaki has come up with a solution to overcome this problem.The EV firm Komaki made an improved battery for EVs and introduced lithium-ion Ferro phosphate batteries (LiFePO4) into the market. According to the company, these batteries have a much lesser chance of catching on fire as they contain iron inside which acts as a fireproof material. Komaki has not just kept this breakthrough to themselves, the company announced that these batteries will come installed on every two-wheeler from every manufacturer from the next month. “This breakthrough will further establish Komaki as a trusted brand in the market. We have developed an easy-to-use mobile application which will notify the end users and dealers about the battery health,” said Gunjan Malhotra, Director, Komaki Electric Division. “It will also allow original equipment manufacturers (OEMs) to repair the batteries from a central location. This will avoid unnecessary to and fro of batteries that can lead to transit damage,” Malhotra added. Komaki claimed, that the cells of the battery contain iron, which makes these batteries more secure from fire even in extreme cases. The number of cells is also reduced by one-third, this will reduce the heat generated inside the battery. An active balancing mechanism has also been installed in the batteries to balance the cells in the battery every few seconds. The company informed, “the hardware Battery Management System (BMS) has been changed to Advanced Communication Based Protocol which will read and update the battery status every second.” LiFePO4 batteries have a life cycle of 2500-3000 times which is way better than the 800 charge life cycle of Nickel Manganese Cobalt (NMC) batteries. The LiFePO4 battery claims to give a range of 300kms on a single charge in the Komaki Venice. More breakthroughs like this are expected to be made as the EV sector booms in India and all the companies try to capture the market with the help of innovations in the already present technologies. See More<a href="https://evindia.online/news/63257687c202b4be50f47d3a" rel="noopener noreferrer" target="_blank" class="ql-size-large" style="color: rgb(33, 37, 41);">Delhi government Announces 1,000 Charging Stations And 100 Battery Swapping Stations</a>

According to the company, these batteries have a much lesser chance of catching on fire as they contain iron inside which acts as a fireproof material.

KOMAKI Launches Fire Resistant Batteries In India. | Komaki Electric Vehicle

Komaki has not just kept this breakthrough to themselves, the company announced that these batteries will come installed on every two-wheeler from every manufacturer from the next month.

KOMAKI Launches Fire Resistant Batteries In India.

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

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