Monthly EV update – April 2021

Monthly EV update – April 2021

monthly electric vehicle

New Product launches

India Launches – April 2021


Vehicle type

Battery specs.

Other specifications


DAO Model 703


·   Range – 100 km

·   Battery – 72V 30Ah (Li-ion)

·    Top speed – 70 km/h

·    Motor – 3500 W BLDC

Not unveiled

DAO Vidyut 106


·   Range – 80 km

·   Battery – 60V 15/23Ah (Li-ion)

·    Top speed – 25 km/h

·    Motor – 250W

Not unveiled

DAO Vidyut 108


·   Range – 80 km

·   Battery – 60V 15/23Ah (Li-ion)

·    Top speed – 25 km/h

·    Motor – 250W

Not unveiled




·   Range – 70 km

·   Battery – 60V 23Ah (Li-ion)

·    Top speed – 45 km/h

·    Motor – 2100W

Not unveiled

Kabira Mobility Hermes 75

2-wheeler delivery

·   Range – 120 km

·   Battery – 2.4kWh (Li-ion)

·    Top speed – 80 km/h

·    Motor – 2500W

Rs. 89,600

Joy e-Bike Skyline


·   Range – 110 km

·   Battery – 73.6V 72Ah (Li-ion)

·    Top speed – 90 km/h

·    Motor – 5000W

Rs. 2,29,000

Joy e-Bike Hurricane


·   Range – 750 km

·   Battery – 73.6V 54Ah (Li-ion)

·    Top speed – 90 km/h

·    Motor – 5000W

Rs. 2,33,000

Joy e-Bike Thunderbolt


·   Range – 110 km

·   Battery – 73.6V 72Ah (Li-ion)

·    Top speed – 90 km/h

·    Motor – 5000W

Rs. 2,33,000

Joy e-Bike Beast


·   Range – 110 km

·   Battery – 73.6V 72Ah (Li-ion)

·    Top speed – 90 km/h

·    Motor – 5000W

Rs, 2,42,000

Geliose Mobility Hope


·   Range – 50km/75km

·   Battery – 48V 18Ah/24Ah/30Ah

·    Top Speed – 25km/hr

·    Motor – 250 W

Rs. 46,999

Upcoming India launches


Vehicle type

Known/ Revealed specs.

Expected Launch Date

Ola Scooter


·   Range – 150 km

July 2021

Tesla Model 3


·   Battery- 50kWh/75kWh/82kWh

·   Range- 508km/628km/657km

June 2021

Tesla Model S


·   Battery- 75kWh/81kWh

·   Range- 668km/663km

July 2021

Tesla Model X


·   Battery- 75kWh/81kWh

·   Range- 580km/547km

January 2022


Tender nameBid Submission End DateTender value
Establishment of Electric Vehicle (EV) charging station at Mumbai Central (MMCT) station of Mumbai Division for a period of 5 (Five) years7 May 2021, By 3 pmRs. 14,04,627

The registered EV sales in April 2021 is at a 5-month low with sales at 14,146 units. Although the m-o-m fall in sales is approx. 46%, the registrations increased y-o-y by 1470%. As of April 2021, the total sales of registered EVs in India is ~6,90,000 units.

Registered EV sales in India: trend & region-wise (Jan 2020 – Apr 2021)

Source: Vahan Dashboard, JMK Research

Note: Sales figures represent EVs registered across 1,287 RTOs in 33 states/ UTs.

Among all the states and UTs, Uttar Pradesh continues to have maximum monthly registered EV sales with 22% of overall sales in India in April-2021. Tamil Nadu has the 2nd highest sales at 14% share, followed by Karnataka (13%), Delhi & Rajasthan (8% each).

(State/ UT) Region-wise registered EV sales – April 2021

 Source: Vahan Dashboard, JMK Research

Note: Sales figures represent EVs registered across 1,287 RTOs in 33 states/ UTs.

High-Speed Electric Two-Wheeler (HS-E2W)

The cumulative sales of Ampere, Ather, Hero Electric, Okinawa and Revolt in April 2021 for the HS-E2W category is 3600+ units. This is ~58% lower than Mar-21 sales. The y-o-y rise, however, of the 5 players in the corresponding segment is 54X.  

Player-wise high-speed E2W sales trend

Source: Vahan Dashboard, JMK Research

Note: Sales figures are for only high range E2W models with speed higher than 25kmph. Sales figures represent E2Ws registered across 1,287 RTOs in 33 states/ UTs.

Electric Three-Wheeler (E3W)

The sales of registered E3Ws (both passenger and cargo-type) in April 2021 is the lowest in 7 months. At 7567 units, it has declined m-o-m by ~46%. The share of cargo-type E3W in the combined E3W sales for Apr-2021 has fallen to 9.8% from 19% of the previous month.

Sales trend of cargo E3W and passenger E3W

Source: Vahan Dashboard, JMK Research

Note: Sales figure represent E3Ws registered across 1,287 RTOs in 33 states/ UTs.

Charging Infrastructure

Stakeholder(s)/ Player(s)

Subject/ Scope


Andhra Pradesh State Govt, EESL and SECI

Setting up EV Charging stations along National and State Highways in Andhra Pradesh

·   State government of Andhra Pradesh, along with EESL and SECI, will set up EV charging stations along the National and State Highways.

·   Andhra Pradesh will set up 400 charging stations in 73 locations.

·   Vijayawada, Vishakhapatnam and Tirupati will be declared model mobility cities with phase-wise goals to adopt EV, charging infra, and new EV enabling building codes

Ola Electric

Setting up Ola E2W Charging infrastructure across India

·   Plans to set up the world’s largest E2W charging network – Ola Hypercharger Network

·   Network size – >100,000 charging points across 400 cities

·   1st year plan – 5,000 charging points in 100 cities

·   Estimated Project Investment – USD 2 billion over a period of 5 years

·   Network accessible to only Ola customers

BluSmart Mobility

EV Charging Infrastructure in Delhi

·   BluSmart Mobility has announced that it will install 130 charging stations across Delhi in public parking spaces.

·   These points will have fast-chargers that can complete EV charging in 90 minutes.

·   These stations will be open to the public on a pay-per-use basis.

Siemens and Switch Mobility

Collaboration in the commercial EV segment.

·   Siemens and Hinduja Group’s Switch Mobility have signed an MoU to collaborate in the commercial EV segment.

·   While Switch Mobility would bring in its electric commercial vehicles into India, Siemens would provide the charging infrastructure technology and charging infrastructure management software solution to enhance the energy-efficient operations of the chargers.

Ather Energy

EV Charging Point Installation

·   Ather Energy has set up 10 charging points across Mumbai, and will set up 30 more by next year.

·   These points have been set up in collaboration with startup Park+.

Policies and Regulations

Ministry of Power releases the draft National Electricity Policy 2021, calls for expert recommendations

  • The Ministry of Power has released the draft National Electricity Policy (NEP) 2021. An expert committee consisting of members from MNRE, CEA and NITI Aayog has been formed to present its suggestions and recommendations on draft NEP 2021 in two months, starting from 27 April 2021.
  • Section 17 of the draft covers creation of Charging infrastructure, which states that ‘Certain tariff related measures may be required to be undertaken for Public Charging Stations’, and that ‘a separate consumer category may have to be created due to the specific nature of the load’.
  • The draft mentions the use of Time Of Day(TOD) tariff to avoid charging during peak hours. It also talks about injecting the power back to the grid from EV batteries when needed by the grid, and creation of a tariff structure and rules by the concerned SERC for the same.
  • Aggregators may be allowed to aggregate the demand of multiple public charging stations to purchase renewable energy using open-access.



Company name

Company type

Deal type


Deal value

(in US$ Mn)



Revolt Intellicorp





Revolt Intellicorp raises Rs.150 crore in equity from RattanIndia



EV based logistics


· Manas Fuloria, CEO, Nagarro

· Nishant Sharma, Managing Partner & CIO, Kedaara Capital

· Mukul Dhyani, Senior IT Executive based out of Europe, 

· Naresh Agarwal, Head of India R&D, Traceable;

· Abhishek Poddar, MD, Macquarie (MIRA);

· Mayank Gupta, ex-KKR Director;

· Anand Dalmia, Co-Founder, Fisdom; Bhanu Singhal, ex-Citibank


EV startup Moeving raises $1 million, launches operations in multiple cities


Oye! Rickshaw

EV fleet


Alteria Capital


Oye! Rickshaw raises Rs. 24 Crore from Alteria Capital to expand EV energy infrastructure

Mahindra to invest INR 3,000 Crores over the next three years in EV Business

  • Mahindra & Mahindra Ltd. will invest Rs 3,000 crore on its EV business in the next three years, while also looking for more alliances and partnerships.
  • M&M is working on developing on an EV platform by combining capabilities of its operations across the globe, including Detroit and Italy.
  • The company, which has set a goal of putting 5 lakh EVs on Indian roads by 2025, has already invested Rs 1,700 crore in the EV business in India with another Rs 500 crore on a new research and development (R&D) centre.

Simple Energy plans to raise USD 15million ahead of its highly anticipated scooter launch

  • Simple Energy plans to raise $15million. 60% of these funds will be invested in its manufacturing facility which will produce 50,000 units annually.
  • The company recently showcased its prototype scooter, code-named Mark 2, which will compete with Ather’s 450x and Bajaj’s Chetak upon launch.

The cumulative li-ion accumulators (or energy storage devices) imported by India in CY2020 is USD 1.06 Billion. The latest monthly data for Feb-2021 signifies a 68% y-o-y and 5% m-o-m rise in Li-ion imports.

Li-ion Import Trend – India

Source: Department of Commerce, Govt. of India.

Note: Li-ion imports represent lithium-ion based energy storage devices (including cells and batteries)

Global Market Updates

GM partners up to offer about 60,000 EV charging points across Canada, U.S.

General Motors has announced deals with major electric vehicle charging networks to offer its customers access to nearly 60,000 charging points across the United States and Canada. GM also introduced Ultium Charge 360, a platform which integrates charging networks, GM vehicle mobile apps and other services to simplify the charging experience for its electric-vehicle owners.

The automaker previously announced a $27 billion investment in EV and autonomous vehicles (AV) through 2025 and the launch of 30 new EVs by 2025-end.

Biden plan calls for $100 billion in new EV consumer rebates

The Biden administration’s $174 billion proposal to boost electric vehicles calls for $100 billion in new consumer rebates and $15 billion to build 500,000 new electric vehicle charging stations, according to a U.S. Transportation Department email sent to congressional staff.

The EV rebates, part of a $2.3 trillion infrastructure and jobs proposal, could be a big boost to U.S. automakers, especially General Motors and Tesla Inc, which no longer qualify for $7,500 tax credits after they sold more than 200,000 zero-emission models.

Thailand to aim to sell only zero emission cars from 2035

Thailand aims to only sell zero-emission vehicles in the country from 2035 as it works to transform itself from a Southeast Asian hub for the production of conventional autos to one making electric cars. The automotive industry is one of Thailand’s most important sectors. It contributes to about 10% of the economy, employs 850,000 workers, and supports industries from iron and steel to petrochemicals and plastic.

About half of the cars made in Thailand are exported to countries including the Philippines, Indonesia and Malaysia. Thailand’s bold plan also sets a target of having electric vehicles account for 50% of all new car registrations by the end of the decade.

Honda to move to 100% sales of electric vehicles by 2040: CEO

Honda Motor Co. has made an announcement to move towards cleaner fuels and has also set a deadline of 2040. The company plans to transition to electric vehicles (EVs) and fuel cell vehicles (FCVs) by 2040.

By 2030, the company expects EVs and FCVs to account for 40% of sales and it will further increase it to 80% by 2035 in all major markets which include North America and China.

The new commitment from the company came soon after the country’s promise to cut emissions by 2030. Yoshihide Suga, Japanese Prime Minister has aimed at a 46% cut in emissions by 2030 and look for ways to go even further, nearly doubling from its previous target.

ABB Explores EV Charging Unit IPO to Help Fund Acquisitions

ABB Ltd. will carve out its electric-vehicle charging business into a separate legal structure to prepare the unit for a potential listing and boost its ability to make acquisitions. The business, which builds fast electric chargers for cars and buses, had revenues of $220 million in 2020, and has had an average growth rate of 50% over the past five years. 

GM to invest US$1 Billion in Mexico to build electric vehicles

GM plans expand its EV production with an investment of more than $1 billion in Mexico, adding a fifth plant in North America with EV production capacity. The automaker’s facility in Ramos Arizpe, Coahuila, will start making unspecified EVs for GM brands in 2023.

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