Weekly India EV market updates
New product launches
The company is looking to launch its first mass-market electric vehicle within the next three years, whose platform will lay the foundation for wider acceptability of such vehicles in India. Hyundai is expected to pump in around $200 million for developing the EV platform. Hyundai believes that by 2030 a major chunk of the Indian four-wheeler market will be electrified and thus more affordable EV models will have to be launched.
According to a recent report, the Kia Seltos Electric is currently under development and will make its way to the market in 2020. The Kia Seltos EV is expected to share its underpinnings with the Kia Soul EV and the Hyundai Kona Electric within the Hyundai Group and will get the same 201 bhp electric motor and a 64 kWh battery pack. The range from the battery though is said to be lesser given the compact SUV’s larger proportions and is likely to be around 400 km on a single charge. In comparison, the Kona Electric claims a range of 452 km on a single charge.
Benling India has unveiled its new electric scooter Aura, which will go on sale in the first quarter of 2020. The scooter gets power from a 2500 BLDC electric motor combined with a detachable 72V/40Ah lithium-ion battery that delivers a range of 120 km on a single charge. The detachable battery is claimed to take up to 4 hours for a full charge. The scooter can run at a top speed of 60 kmph.
Headquartered in Modena, Italy, Energica is the first Italian company to make high-performing electric bikes. Its international portfolio, at the moment, includes three models: Energica Eva Ribelle, Energica Ego, and Energica Eva EsseEsse9. Unsurprisingly, even the most affordable of the lot, i.e. the Ego range is quite expensive; a mere conversion of the base model’s price goes north of ₹15 lakh. And given that the Energica electric bikes are likely to be imported to India means they will be deemed top-end premium/ luxury bikes in India.
Ampere Vehicles, a wholly owned electric mobility subsidiary of Greaves Cotton, has launched Reo Elite, a new electric scooter with euro design starting at Rs 45,099 (ex-showroom, Bengaluru). The product is available for booking for Rs 1,999 on Ampere’s website and through dealerships in Bengaluru.
The scooter gets a 72 volt motor and a 1,500 W battery pack, allowing it to achieve a maximum speed of 49 km/h. As for the DAO GT riding range, the company claims the electric scooter can go a distance of 120 km on a single charge. It added that the GT e-scooter can be completely charged in three to four hours.
MakerMax System, a start-up dedicated to advanced lithium battery technologies and online EV education, has expanded its operations in India with a series of new products and services.A recently launched product is an indigenously developed desktop model of the AI-enabled battery analyser CCAX4 for R&D labs, battery pack and BMS developers and comes at a fraction of cost of imported equivalents.
The burgeoning electric car market in India has recently witnessed the arrival of premium EVs like Hyundai Kona and MG eZS after humble early electric cars like e-Tigor, e20 and e-Verito. Tata Motors have also come up with Nexon EV based on proprietary powertrain technology ‘Ziptron‘ that has been designed specifically for Indian driving conditions. With three SUVs vying for the attention of early adopters in the space, we talk about their features and specifications, and how these EVs stack up against each other.
|Tender name||Tendering authority||Location||No. of vehicles/Type||Other details||Bid submission date|
|Nagpur Municipal Corporation, 40 midi electric buses, Nagpur, Dec 2019||Nagpur Municipal Corporation||Nagpur||40 midi electric buses||EMD: INR 2.98 million||13-Jan-2020|
|Brihanmumbai Electric Supply and Transport Undertaking, 340 electric buses, Mumbai, Dec 2019||Brihanmumbai Electric Supply and Transport Undertaking||Mumbai||140 single decker AC & 200 midi AC Electric buses||EMD:INR 50,00,000||7-Jan-2020|
Investments and partnerships
With the EV space gaining prominence in India by the day, there are many players who are willing to set their foot in the Indian market. In fact, there’s been an influx of electric two-wheeler makers in the last five years and major motorcycle companies like Hero Motocorp, TVS and Bajaj Auto have also invested in such start-ups. Joining next in the market with an investment of $ 100 million is the China-based Dao EVTech which is setting up its production facility in Hyderabad with a plan to begin operations from February 2020.
Auto component manufacturer Sterling Tools Ltd (STL) and Jiangsu Gtake Electric have formed a joint venture to design, manufacture and supply motor control units in India, especially for electric vehicles.
Policy and regulations
- Policy aims for 25% of vehicles to be EVs by 2024.
- Key highlight areas of the policy is on electric two-wheelers, shared transport vehicles (three-wheelers/buses) and goods carriers/freight vehicles since they contribute to the majority of the vehicular pollution.
- The policy will be valid for three years from the date of notification.
- All new home and workplace parking spaces will have to be ‘EV-ready’ with 20% of the parking being EV-enabled
- For an average electric two wheeler with 2 kWh battery, the applicable incentive would be approximately ₹10,000
- Incentive of up to Rs 5,000 will be offered for scrapping of a non-electric two-wheeler vehicle and switching to an electric vehicle, the chief minister said.
- The Delhi government will give 100% subsidy for the purchase of charging equipment up to ₹6,000 per charging point for the first 30,000 charging points at homes and workplaces.
The Modi government has been defending the multi-tiered rates under GST,saying there cannot be one rate given that different segments of society have to be taxed differently , but it has emerged that ordinary bicycles used mostly by the low-income group people attract 12% GST while expensive electric bicycles are in the lowest slab of 5%.
Electric vehicle startup Rivian said on Monday it closed a $1.3 billion investment round, led by fund manager T. Rowe Price but also including existing investors online retailer Amazon.com Inc and No. 2 U.S. automaker Ford Motor Co. The investment round, which also included BlackRock Inc, is the fourth this year for Rivian and positions the Plymouth, Michigan-based company as one of the better-financed players in a crowded EV manufacturing market where Tesla Inc is the most established player.
General Motors Co. and Tesla are about to become the first automakers that will have to sell EVs without the benefit of a $7,500 federal tax credit. Last week, Congress failed to include legislation in a spending bill that would have tripled the 200,000 cap on the number of EVs per manufacturer that qualify for tax credits. The legislation would have allowed GM, Tesla and any other automaker hitting that ceiling to offer a slightly lower tax credit of $7,000 for another 400,000 plug-in cars.
At least 448 green vehicles have been bought by police forces across the country in a bid to meet emission targets. But there’s just one slight problem – they aren’t much good at chasing crooks or rushing to save people in crisis. Practically all of the vehicles, which cost at least £1.49 million altogether, are used for non-emergencies and for bosses to travel to work. Official police reports say it takes too long to charge the batteries to be ready for a hot pursuit at a moment’s notice. They also say there is too much risk of them running out of juice before before the end of a shift.
The number of electric vehicle (EV) models available to European buyers will jump from fewer than 100 to 175 by the end of 2020, according to data firm IHS Markit. By 2025 there will be more than 330, based on an analysis of company announcements. The new supply will cater to a rapidly expanding market as demand for petrol-powered vehicles gradually recedes. UK EV sales will rise from 3.4% of all vehicles sold in 2019 to 5.5% in 2020 – or from 80,000 this year to 131,000 in 2020 – according to forecasts from Bloomberg New Energy Finance.