Monthly EV update – April 2022
New Product Launches
India Launches – April 2022
|
Product |
Vehicle type |
Battery specifications |
Other specifications |
Price |
|
Strong Hybrid Electric Vehicle (SHEV) |
· Battery cell type- Lithium-ion |
· Motor type-AC Synchronous · Tyre type and size-185/55 R16 87H · Nominal Voltage- 172.8 V |
Not Unveiled |
Source: Industry news articles, JMK Research
Upcoming Launches
|
Product |
Vehicle type |
Known/ Revealed specifications |
Expected Launch Date |
Expected Price |
|
E-Car |
· Range- 418 km · Charging time- 40 mins with 150kW DC fast-charging/ 8-10 hours with 11 kW AC charging |
May 2022 |
Not Unveiled |
|
|
E2W (E-Motorbike) |
· Top Speed- 110 km/hr · Range- 120 km · Battery- 3.7kWh |
May 2022
|
INR 1.65 lakh |
|
|
E-Car |
· Range- 493 to 590 km · Battery- 81.5kWh · 0-100km/hr in 5.7 secs |
26 May 2022
|
INR 80 lakh |
|
|
E-Car |
· Top Speed- 185 km/hr · Battery- 58kWh |
H2 2022 |
Not Unveiled |
Source: Industry news articles, JMK Research
2022 Hero Optima CX electric scooter to launch soon
Hero Electric is gearing ready to launch updated Optima CX electric scooter with new features and higher range of 140 km. The upcoming 2022 Hero Optima HX is likely to be offered in two variants – CX and CX ER (Extended Range). These trims are expected to replace the existing Optima HX range of e-scooters. While the former is expected to feature a single battery unit, the latter is likely to come equipped with a dual battery pack.
Commercial EV maker EKA unveils its first e-bus E9
Commercial electric vehicle maker EKA unveiled its first e-bus E9 at the Pune Alternate Fuel Conclave (AFC) on April 2, 2022. EKA E9 is powered by a 200-kW electric motor offering faster acceleration, more horsepower, greater traction power, and a regenerative braking system.
Tata Motors unveils concept of new electric SUV Curvv
Tata Motors unveiled the concept of new electric SUV Curvv in India on April 6. The company expects to launch vehicles based on the concept in two years from now.
Honda Motorcycle & Scooter India plans to launch multiple EV models
Honda Motorcycle & Scooter India (HMSI) plans to launch multiple electric models, foray into the entry-level 100 cc bike segment, and enhance exports as part of the future business roadmap in the country. The company plans to develop its Manesar-based manufacturing plant as a global hub for overseas shipments.
Kia Motors to roll out entry-level EV SUV for the global market from India
South Korean carmaker Kia is looking to make its mark in the electric vehicle space by rolling out a small SUV EV for the emerging market of India. The development work for a small SUV codenamed AY has kicked off and it is expected to hit the roads in 2025. The proposed SUV is based on a flexible platform, allowing Kia to launch a mass-market entry-level petrol SUV besides the EV.
EV Sales Trends
The overall EV sales in April 2022 declined m-o-m by 5.3% to reach 73,046 units. There was however a y-o-y leap of 415%.
Registered EV Sales Trend in India (April 2021–April 2022)
Source: Vahan Dashboard, Company Press Releases, JMK Research
Note: Sales figures represent EVs registered across 1,429 RTOs in 33 states/ UTs.
As depicted in the figure below, EV registrations in April 2022 were driven by electric two-wheelers and passenger-type electric three-wheelers, which together accounted for 92.92% of total registrations in the month. The shares of these categories were followed by E-Cars (3.64%), cargo-type electric three-wheelers (3.17%), and so on.
Category-wise EV Sales in April 2022
Source: Vahan Dashboard, Company Press Release, JMK Research
Note: Sales figures represent EVs registered across 1,429 RTOs in 33 states/ UTs; Others include adapted vehicles, fork-lifts, goods carriers, omni bus, and trailer (agriculture) vehicles.
Among all the states and UTs, Uttar Pradesh retained its top spot of EV share with 16% of overall sales, followed by Karnataka with 13% share. Maharashtra fell to the third spot with 11% share, followed by Gujarat (10%), Tamil Nadu (8%), Rajasthan (7%), and Delhi (5%).
(State/ UT) Region-wise Registered EV Sales – April 2022
Source: Vahan Dashboard, Company Press Release, JMK Research
Note: Sales figures represent EVs registered across 1,429 RTOs in 33 states/ UTs. Others include Chhattisgarh, Punjab, and 14 other states/UTs.
High-Speed Electric Two-Wheeler (HS-E2W)
The overall HS-E2W sales in the country in April 2022 stood at 49,141 units, signifying a slight decline of 0.91% m-o-m however a whopping 866% y-o-y leap in registrations. The Top 10 players, as shown below, accounted for 93% of the total registrations witnessed in the month of April 2022.
High-Speed E2W Sales Trend
Source: Vahan Dashboard, JMK Research
Note: Sales figures represent only high-range E2W (Top speed > 25 kmph) registered across 1,429 RTOs in 33 states/ UTs.
Ola Electric moved to 1st position this month from the previous month’s number 2nd position. Further, Hero Electric fell to the third position with Okinawa taking the second place. Bajaj re-entered the Top 10 race after its brief absence last year, pushing Benling to the 11th place.
Top High-Speed E2W Players in April 2022
Source: Vahan Dashboard, JMK Research
Note: Sales figures represent only high-range E2W (Top speed > 25 kmph) registered across 1,429 RTOs in 33 states/ UTs. Others include Benling, Lectrix. GoGreen E-mobility Private Limited, MEW Electricals Ltd (BGauss), KLB KOMAKI, and 33 other players.
Electric Three-Wheeler (E3W)
The sales of registered E3Ws passenger and cargo-type in April 2022 stood at 18,738 units and 2,316 units respectively, signifying a m-o-m decrease of 9.59% for E3W – Passenger and decrease of 26.38% for E3W – Cargo.
Sales Trend of E3W – Passenger (Left) and E3W – Cargo (Right)
Source: Vahan Dashboard, JMK Research
Note: Sales figures represent E3Ws registered across 1,429 RTOs in 33 states/ UTs; E3W (Passenger and Cargo) sales shown in the figure takes into account both e-rickshaw and three-wheeler classes as categorized in the Vahan dashboard.
The cumulative sales of top 7 electric 3-wheeler players across passenger and cargo segments in April 2022 accounted for 38.4% share of the entire E3W market. YC Electric Vehicle continued to have the highest share of 8.95%, which was followed by Mahindra Electric Mobility (8.94%), Saera Electric Auto (5.56%), Champion Poly Plast (4.37%), Dilli Electric (3.88%), Best Way Agencies (3.4%), and Unique International (3.3%).
Top E3W Players in April 2022
Source: Vahan Dashboard, JMK Research
Note: Others made up 61.6% of the E3W markets in April 2022; sales figures for players are inclusive of both cargo and passenger offerings; Sales figures represent E3Ws registered across 1,429 RTOs in 33 states/ UTs; E3W (Passenger and Cargo) sales shown in the figure takes into account both e-rickshaw and three-wheeler classes as categorized in the Vahan dashboard.
Electric Cars (E-Cars)
The cumulative sales of E-cars in April 2022 stood at 2,659 units, witnessing a m-o-m fall of 25.55% but a y-o-y surge of 344.65% in registrations. Tata Motors has been driving the E-car sales the entire year. This month, the Company accounted for 87% of the total registrations. BYD, Audi, and BMW witnessed an increase in sales of their E-cars this month as well.
Player-wise E-Car Sales Trend
Source: Vahan Dashboard, Company Press Release, JMK Research
Note: Sales figures represent E-cars registered across 1,429 RTOs in 33 states/ UTs; Others include Hyundai, BYD, Jaguar, Audi, Mercedes-Benz, BMW, Volvo, and Porsche.
Electric Buses (E-Buses)
The cumulative sales of E-buses in April 2022 stood at 164 units, with a m-o-m rise of 116% and a y-o-y increase of 6%. This month’s sales were driven by JBM Auto (30%), followed by PMI Electro (29%), Tata Motors (23%) and Olectra Greentech (18%).
Player-wise E-Bus Sales Trend
Source: Vahan Dashboard, JMK Research
Note: Sales figures represent E-buses registered across 1,429 RTOs in 33 states/ UTs.
Policies & Regulations
NITI Aayog released the much-awaited draft of its Battery Swapping Policy
NITI Aayog released the much-awaited draft of its Battery Swapping Policy. The policy seeks to level the playing field for the sale of EVs with fixed or swappable batteries. Key highlights of the policy include:
- The policy is mainly targeted at electric two- and three-wheelers for the adoption of battery-swapping systems and all metros with a population of more than 4 million will be eyed in Phase one.
- The draft also states that the GST council may consider reducing the tax on batteries from 18 percent to 5 percent.
- The draft also proposes to support batteries with Advanced Chemistries eligible under the FAME Scheme.
- A rigorous testing protocol to avoid breakdowns and unwanted temperature rise has also been proposed. The document also says that data sharing among major battery providers will be encouraged.
NITI Aayog has said that the draft is now up for consultation and has invited comments on it until June 5.
Government of India orders inquiry into e-scooter fires
The government of India has ordered an inquiry into the increasing number of incidents of fire in electric two-wheelers, including ones produced by Pure EV, Ola Electric and Okinawa, and has sought a report within a month as concerns rise over customer safety and vehicle robustness. The Road Transport Ministry asked the Centre for Fire Explosive and Environment Safety (CFEES) to investigate the two cases. CFEES is the defense laboratory of the Defense Research and Development Organisation (DRDO).
West Bengal govt eyes 2,000 more e-buses for its green fleet to change Kolkata commute, clean up air
The West Bengal state transport department has set itself the target of acquiring 2,000 electric buses for Kolkata to add to its existing fleet of 80, the biggest of all metro cities in the country. The acquisition will be under the second phase of the Centre’s INR 10,000-crore scheme Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME). The process of inducting 50 more electric buses has already started, and the department is also shifting from the CAPEX (capital expenditure) to OPEX (operational expenditure) mode while acquiring the buses, while opening up the sector to private partners to run the service and share a royalty with the government.
Delhi govt to hire only e-vehicles for staff
To give a push to its EV policy and encourage people to adopt greener vehicles, the Delhi government has decided to lease or hire only electric vehicles for its staff and officers. However, automobiles such as ambulances, fire engines, and enforcement vehicles, which fall in the category of “special purpose vehicles” and are not covered under the Delhi Electric Vehicle Policy, have been kept exempted from the new set of guidelines issued by the finance department for hiring and leasing cars for staff. The Delhi government will also continue to buy petrol, diesel, and CNG-run vehicles for its officers since the EVs are costly and only a few options are available in the market.
Maharashtra Has Deferred Implementation of New Electric Vehicle Policy Till 2023
Maharashtra, which was one of the first states in the country to design and notify an Electric Vehicles policy, has now decided to put the policy on hold for a year which earlier required that “Starting April 2022, all new govt. vehicles (owned/leased) operating within the major cities to be electric.” Various government departments objected to the proposal, citing lack of suitable charging stations for these vehicles across the state and raising concerns about how the EVs would perform in isolated areas, where road networks are inadequate. Considering these issues, the state’s Environment Department has issued a government resolution, declaring that government agencies might now defer the purchase of these EVs until April 2023.
Charging Infrastructure and Battery Swapping
|
Stakeholder(s)/ Player(s) |
Subject/ Scope |
Description |
|
Tata Power and National Real Estate Development Council (NAREDCO) |
Installing charging points across Mumbai |
• Tata Power, a leading electric-vehicle charging infrastructure provider, has collaborated with the National Real Estate Development Council (NAREDCO), Maharashtra, to install up to 5,000 electric vehicle (EV) charging points across its member developer properties in Mumbai. • Tata Power will provide a comprehensive EV charging solution across member developers of NAREDCO |
|
Setting up EV charging points in Delhi-NCR |
• Free-of-cost electric vehicle charging is now available in the national capital starting June 1 owing to an initiative started by the EV Charging startup ElectriVa to incentivize EV ownership. • Free EV charging facilities can be availed at over 40 charging stations of ElectriVa across Delhi-NCR between 12pm and 3pm. |
|
|
Maharashtra State Electricity Distribution Company Limited (MSEDCL) |
Setting up of new EV charging stations in Maharashtra |
• Maharashtra State Electricity Distribution Company Limited (MSEDCL) announced setting up of 50 new EV charging stations in Maharashtra including six in Thane, 10 in Navi Mumbai, 18 in Pune, 6 in Nagpur and 2 each in Nashik, Aurangabad, Solapur, Kolhapur, and Amravati. • The state plans a total 5,000 new EV charging stations across the state, with 1,500 in Mumbai metropolitan region. |
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|
Setting up EV charging stations across the country
|
• Statiq, an electric vehicle charging network startup, has announced its collaboration with Hindustan Petroleum Corporation (HPCL) to set up EV charging stations across the country. • With this alliance, Statiq aims to increase the number of public EV chargers from over 200 in Uttar Pradesh, Bihar, and Uttarakhand to 10,000 EV charging stations by the end of 2022. • These charging units will be of varying combinations of 3.3 kW or 7.7 kW chargers, which will be compatible across all EV makes and ensure that complete charging is possible within a matter of 2-3 hours for electric four-wheelers. |
|
Installation of EV chargers |
• British automotive company MG Motor, to enhance the adoption of ‘sustainability and green mobility,’ has partnered with Indian ‘Maharatna’ company Bharat Petroleum Corporation Limited (BPCL) to bolster the electric vehicle charging infrastructure across the country. • Both these organizations, with their combined expertise in identifying charging sites, gathering consumer insights, and creating technology to manage charging systems – would be installing EV chargers across highways and within cities. |
|
|
Installation of EV charging units |
• In a big boost to the already growing electric vehicle industry in the State, RapidEV Charge is all set to expand its footprint pan-India and aims to install more than 1,000 EV charging units across Telangana and Andhra Pradesh in the next 18 months. • A minimum of 600 EV charging stations will dot different parts of Hyderabad and the remaining will come up in cities like Visakhapatnam, Vijayawada, and Tirupati. |
|
|
Installation of EV charging units |
• Atum Charge, a solar-powered EV charging company, has set up about 250 universal EV charging stations in the past six months. The company’s current focus is on the Tier 1 and Tier 2 towns and cities but plans to expand into additional cities and states. • The charging stations have been set up across Maharashtra (36), Tamil Nadu (44), Telangana (48), Andhra Pradesh (23), Karnataka (23), Uttar Pradesh (15), Haryana (14), Odisha (24), and West Bengal (23). |
Source: Industry news articles, JMK Research
Other Market Updates
ABB launches new robots for EV makers
In its attempt to make shopfloors of electric vehicle manufacturers even more automated, ABB, which already provides its robots to the Ola mega factory, has added a couple of new robot families to its portfolio for the EV segment. The new robots codenamed as IRB 5710 and 5720 come in eight variants and provide options for payloads from 70 kg to 180kg and a reach from 2.3 to 3 metres. These find a range of applications in production tasks for EVs including material handling, machine tending, and assembly as well as specific operations in EV manufacturing that include battery module picking and placing, high precision assembly, and parts handling.
Okinawa recalls 3,215 units of Praise Pro electric scooters
Okinawa Autotech has issued a recall of 3,215 units of its electric scooter Okinawa Praise Pro. Okinawa has recalled these electric scooters to check and fix any issues related to batteries. The company has issued a statement saying the initiative is part of the company’s comprehensive power pack health check-up camps. Okinawa has initiated this recall amid various instances of fire in electric two-wheelers across the country.
TVS Srichakra to enter two-wheeler EV segment
TVS Srichakra which manufactures the TVS Eurogrip brand will soon launch tyres specifically for electric two-wheelers called E Torq, with low rolling resistance, a key requirement for EVs. The E Torq along with other range of products will be launched for both Indian and global markets.
20 electric scooters from Jitendra EV catch fire in Nashik
In the biggest ever EV fire incident in the country, 20 electric scooters from Jitendra EV caught fire near Nashik when they were being transported not far from the factory in Nashik. This is the fifth incident of fire in electric scooters since the onset of summer.
Pure EV recalls Etrance+ & Epluto 7G electric scooters after fire incidents
E-scooter manufacturer Pure EV has issued a recall of 2,000 units of its Etrance+ and Epluto 7G range of scooters following recent fire accidents in Nazimabad and Chennai. As per the company, the recalled vehicles and batteries will undergo a thorough check for their health, and battery inspections for any imbalance issues, which will be calibrated through their device, Batrics Faraday. Additionally, the BMS (Battery Management System) and charger calibration shall be carried out as required.
Dabur India to induct 100 electric vehicles for last-mile product distribution
Homegrown FMCG major Dabur India Ltd is planning to induct a fleet of 100 electric vehicles in its supply chain for last-mile product distribution in the next 12 months. The first batch of the new EVs has been inducted into its fleet in North India and has commenced deliveries in Haryana’s Sonipat area.
MoEVing expands presence; plans to deploy 5,000 more electric vehicles this year
E-mobility tech platform MoEVing announced expanding its operation to various Tier-2 cities in Punjab, Uttar Pradesh, Rajasthan, Gujarat, and Tamil Nadu. It also plans to deploy 5,000 electric vehicles in Tier-2 markets this year. The company already has over 1,000 electric two and three-wheelers in operation, and there are plans to deploy 5,000 more such vehicles this year. As part of the expansion, the company is now present in Chandigarh, Ludhiana, Lucknow, Jaipur, Ahmedabad, and Coimbatore. It has a presence in 16 cities spread across 11 states.
Ola recalls S1 Pro batch as part of ongoing probe
A day after union minister for roads and highways, Nitin Gadkari suggested that mandatory recalls and stiff penalties would be the norm for organizations associated with scooter fires, Ola announced that it would be recalling 1,141 units of its S1 Pro model that are a part of the batch that caught fire last month. Ola says that the recall is in line with the internal investigation instituted into the March incident in Pune where preliminary findings suggest that the thermal incident was likely an isolated one. Ola also says that it will conduct a detailed diagnostics and health check of the entire batch.
Tata Motors unveils Avinya electric car concept: Production version by 2025
Tata Motors unveiled its Pure EV concept called Avinya. A production version based on this third-generation concept will be rolled out by 2025, following the production version of the gen-two concept Curvv in the next 24 months. The architecture is expected to have a range of a minimum 500 km.
Tata signs MoU with Lithium Urban for deploying 5000 XPRES-T’ EVs
Tata Motors has announced a partnership with Lithium Urban Technologies, an EV-based urban transportation service provider which will deploy 5000 Xpres T electric sedans, across the country, for employee transportation. In July 2021, Tata Motors launched the ‘XPRES’ brand exclusively for fleet customers and the XPRES-T EV is the first vehicle under this brand. The electric sedan comes with 2 range options – 213 km and 165km (ARAI certified range under test conditions). It packs a high energy density battery of 21.5kWh and 16.5kWh and can be charged from 0- 80% in 90 mins and 110 mins, respectively, using fast charging or can also be normally charged from any 15 A plug point.
Deals & Investments
|
Company name |
Company type |
Deal type |
Investor(s) |
Deal value (US$ Mn) |
Details |
|
Zypp Electric |
Last mile deliveries and logistics |
Debt |
Northern Arc |
1 |
|
|
BGauss |
Electric Vehicle Manufacturing |
Equity |
Darshan Patel, founder, Vini Cosmetics |
7 |
EV Startup BGauss Bags US$7 Mn A Series Funding To Chart Retail Expansion |
|
Nexus Power |
EV Battery startup |
Equity |
JITO Angel Network |
Undisclosed |
EV battery start-up Nexus Power gets investment from JITO Angel Network |
|
APM Finvest |
EV Financing |
Acquisition |
Mufin Finance |
10 |
Mufin Finance acquires APM Finvest for INR 76 crore, aims to create EV financing ecosystem |
Source: Industry News Articles, JMK Research
US-based Triton Electric Vehicle to set up commercial EV plant in Gujarat
US-based Triton Electric Vehicle LLC has signed an agreement with the Gujarat government to set up a commercial electric vehicle manufacturing plant at Bhuj with a total investment of INR 10,800 crore (including an initial investment of INR 1,200 crore in the current financial year). As per the agreement, Triton Electric Vehicle will set up the plant over 645-acre land with an annual production capacity of 50,000 trucks.
Maruti sets up New Mobility Division to participate in EV race
Maruti Suzuki has restructured its organisation, starting April 1, by forming a dedicated team for Electric and connected vehicles called as “New Mobility Division” to enable a sharper focus. This comes a few weeks after the Company announced investment of INR 10,000 crore on electric vehicles in India. Further, development work has already started for a project codenamed YY8 planned for 2024-25.
Lucas TVS sets out on a INR 3,000-crore diversification drive
Looking to diversify beyond its core line of automotive products, Lucas TVS is looking to invest around INR 3,000 crore over the next 3-5 years to build capabilities in areas like electric vehicles and consumer appliances. The company is diversifying into making motors for EVs and is also investing upto INR 2,500 crore to set up a lithium-ion cell manufacturing plant in collaboration with US-based 24M. Lucas TVS is looking to start supplies of EV motors by the end of this month.
Bharat Petroleum to Pump in INR 200 Crore to Set Up 100 Fast Electric Vehicles Charging Corridors
Public sector oil marketing company Bharat Petroleum Corporation Limited (BPCL) will invest around INR 200 crore this fiscal to set up 100 fast electric vehicle charging corridors having 2,000 stations along the busiest 100 national highways. In the long run, the company has planned to have 7,000 fast EV charging stations by 2024-25.
Biliti Electric to build the world’s largest electric three-wheeler plant in Telangana at US$150 million
California-based Biliti Electric Inc is teaming up with Hyderabad-headquartered Gayam Motor Works (GMW) to set up the world’s largest electric three-wheeler production facility with a capacity of 240,000 vehicles a year, involving an investment of US$150 million (approximately INR 1,144 crore) in Telangana. The largest investment in the electric vehicle manufacturing segment in Telangana would go into setting up the manufacturing facility over an area of 200 acres to be operational in two phases. The first phase with 18,000 vehicles a year would take off in early 2023 to reach the capacity of 240,000 vehicles by 2024.
Omega Seiki Mobility plans to set up world’s largest electric three-wheeler plant in Karnataka
New Delhi-based electric vehicle manufacturer Omega Seiki Mobility announced its plans to set up the world’s largest electric three-wheeler manufacturing plant in Karnataka with an investment of US$250 million (INR 1,900 crore at current exchange rates). The manufacturing plant will be built on 250 acres of land in three phases and with a capacity to produce 1million electric three-wheelers annually. The company will be raising funding in the form of equity as well as debt to build the manufacturing plant which is slated to commence production by 2024.
One Moto’s proposed EV facility in Hyderabad on track, Phase 1 to be operational in early 2023
British EV-tech startup, One Moto, which plans to invest INR 250 crore in setting up an electric two-wheeler and lithium-ion battery manufacturing facility on Hyderabad’s outskirts, is also looking at setting up a facility for manufacturing four-wheelers in India. The first phase of the two-wheeler EV facility, to be spread over 15 acres and slated to come up at Zaheerabad, is expected to become operational by early 2023.
JVs & Partnerships, Mergers & Acquisitions
|
Companies involved |
Purpose of Partnership |
|
|
• Amazon India is working with Sun Mobility to expand the deployment of EVs integrated with battery swapping technology for its transportation and logistics services. • These vehicles will be part of Amazon India’s commitment to adding 10,000 electric vehicles to its India delivery fleet by 2025, announced in 2020. • Under the partnership, Sun Mobility will be setting up its Swap Points across its customer locations including Amazon warehouses in major cities like Delhi, Bangalore, Mumbai, Pune, Ahmedabad, Jaipur, and Hyderabad |
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• Bangalore-based advanced battery technology start-up Log9 Materials has inked a Memorandum of Understanding (MoU) with Nashik-headquartered EV manufacturer Jitendra New EV Tech. • As part of the understanding, Jitendra New EV Tech will introduce a new electric scooter range named ‘JMT 1000 HS’ incorporating Log9’s InstaCharge battery technology. • The e-scooters have been designed and targeted for the last-mile logistics and delivery segment in India. Powered by Log9 batteries, the e-scooters will be able to fully charge in 15 minutes and have a battery life of more than 10-years. • The e-scooter has a range of upto 82km and payload capacity of upto 150kg. |
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• The Bengaluru-based start-up Log9 Materials has partnered with Pi Beam to boost the last-mile delivery operations of the latter using Log9’s InstaCharge battery technology. • As a part of this collaboration, Log9 Materials will deliver a large number of Rage+ RapidEV electric 3-Wheeler fleets powered by Log9’s RapidX batteries that InstaCharge (get fully charged from 0 to 100%) within 35 minutes. |
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• Omega Seiki Mobility and Bengaluru-based battery technology startup Log9 Materials announced a partnership to deploy 10,000 three-wheeler Rage+ Rapid EVs in Tier II and III markets of India by FY2024. • These InstaCharging stations can charge an electric 3W completely within 35 minutes as compared to up to 3.5 hours taken by conventional 3Ws. |
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• EKA, an electric vehicles and technology company, and a subsidiary of Pinnacle Industries has inked a strategic collaboration with Bangalore-based advanced battery technology start-up Log9 Materials. • The partnership will see Log9 provide its fast-charging advanced battery solution RapidX for EKA’s new energy vehicles, including its recently unveiled electric bus range, EKA E9 and upcoming LCV. • The RapidX batteries are claimed to be the first-of-its-kind batteries in India for electric buses and SCVs that come with a 15-year warranty, long cycle life (of greater than 15,000 charge-discharge cycles),and are powered by InstaCharge battery technology which enables charging time of less than 30 minutes on both the LCV and e-bus platforms of EKA. |
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• Electric two-wheeler maker Hero Electric has partnered with Shadowfax Technologies for supplying its e-scooters for last-mile deliveries. • As part of the association, Hero Electric will convert around 25 per cent of Shadowfax’s 100,000-strong delivery fleet into electric vehicles with its NYX HX e-scooters across delivery centres. Shadowfax, a crowdsourced platform for last-mile delivery, had recently announced converting 75 per cent of its fleet to EVs by 2024. |
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• Hero Electric has partnered ElectricPe, an EV charging platform to set-up charging points across India for its customers. • The OEM estimates that with 2 million electric vehicles estimated to be plying the roads by 2026 there will be a huge need to build the charging infrastructure. • The collaboration will allow Hero Electric customers to access ElectricPe’s charging network. The charging point network will be nestled in residential complexes, offices, malls, and other establishments. |
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• Hero Electric, India’s largest electric two-wheeler company, partnered with BOLT, India’s largest EV Charging Network to set up 50,000 EV charging stations in India in the next year. • As part of the collaboration, BOLT chargers will be installed in more than 750 Hero Electric touchpoints across India benefitting over 4.5 lakh customers. • Around 2,000 Hero Electric riders can avail themselves free of cost BOLT charging units set. |
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• Hero Electric has partnered with Even Cargo, India’s first women-only delivery platform, for strengthening the last-mile delivery segment. • Hero Electric will aid Even Cargo to create the first-ever women-only delivery EV fleet by bringing over 10,000 women riders by 2025. • The fleet will be allocated across major Indian cities including Delhi, Mumbai, and Hyderabad. |
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• Epsilon Carbon has tied up with US-based The Metals Company to study the feasibility of extracting rare metals used in lithium-ion cells from deep-sea mining. • Post the feasibility study, the two companies will set up an INR 1,200-crore polymetallic nodule processing plant in India by 2025. • The planned Indian plant will process 1 million tons per annum (MTPA) of dry nodules to create about 30,000 tonnes of raw materials required to manufacture the cathode for Lithium-Nickel-Manganese-Cobalt-Oxide (NMC) cells. |
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• HYM Drive Systems, a joint venture between Hero Motors and Yamaha Motor Co Japan, expects to start production of electric drive units at its facility in Ludhiana from November this year. • The ground-breaking ceremony for the manufacturing facility with a capacity of 10 lakh drive units in phases took place on April 2. • Hero Motors and Yamaha Motor had entered into an agreement in October 2021 to create a global electric drive unit company at Hero ‘E-Cycle Valley’ in Ludhiana as part of their strategic alliance forged in September 2019 to work together in the e-cycle product segment. |
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• Bengaluru-based electric vehicle start-up Simple Energy has signed an MoU with US-based battery maker C4V for setting up a lithium-ion cell manufacturing facility for cells in India. • The strategic partnership is expected to explore the potential of C4Vs P-, N-, S-series battery and LiSER (Lithium Slim Energy Reserve) tech, which claims to offer better safety, higher energy density than LFP, fast-charging and longer lifecycle based on patented technology. Simple Energy plans to leverage C4V’s technology in its upcoming two- and four-wheeler products. |
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• Jio-BP and TVS Motor Company have joined hands to establish public electric vehicle charging infrastructure for electric two-wheelers and three-wheelers across the country. • Under this proposed partnership, the customers of TVS electric vehicles are expected to get access to the widespread charging network of Jio-BP, which is also open to other vehicles. The said partnership aims at creating a regular AC charging network and a DC fast-charging network. |
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• Delhi-NCR-based electric vehicle start-up Euler Motors has partnered with Mumbai-headquartered Magenta, an integrated clean energy and electric mobility solutions provider, to deploy 1,000 HiLoad electric three-wheeler cargo vehicles. • Under the partnership, Magenta will deploy these EVs in Bangalore followed by other regions over the next 12 months. The vehicles will be deployed for multiple segments and customer applications including e-commerce, food delivery, pharma, and other last-mile logistics clients. |
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• Tier 1 supplier Napino Auto & Electronics has forged a commercial licensing agreement with Israel-based EVR Motors, the inventor of a newly designed and patented motor topology – the Trapezoidal Stator – Radial Flux Permanent Magnet (TS – RFPM) topology to develop and manufacture motors for electric two-wheelers in India. • This is EVR Motors’ second partnership in India; earlier it had inked a partnership with Omega Seiki Mobility for the electric three-wheeler segment. |
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• Greaves Electric Mobility, the e-mobility arm of Greaves Cotton has announced a strategic partnership with Bengaluru-based Mesha Energy Solutions, a wholly owned subsidiary of US-based Mesha. • Through this association, Greaves Electric Mobility aims to improve the battery technology for its products across the portfolio and expand its presence. |
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• Sona Comstar has formed a strategic partnership with Canada-based Enedym Inc. to develop the next-generation of switched reluctance motors (SRMs), electric propulsion, and electrified powertrains for the Indian market. • Under the agreement, both the parties will develop SRM drive platforms for all kinds of Indian road and usage conditions targeting the three-wheeler electric vehicles, 2-wheeler high-performance motorcycles having 10kW or greater nominal power, and four-wheeler cargo delivery electric vehicles having 20kW or greater nominal power |
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• Battery swapping services provider SUN Mobility has entered into a strategic partnership with Terra Motors Corporation, a Japanese electric vehicle manufacturer to integrate Terra Motors’s 3W passenger vehicles and 2W platforms with SUN Mobility’s swappable batteries-based energy solution by June 2022. • Terra Motors’ EVs will have leverage from SUN Mobility’s battery technology, along with access to its SWAP POINTS some of which will also be placed at select Terra Motors dealership locations. |
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• Battery-swapping network Chargeup and Microgrid Labs have teamed up with BECIL as its technological partner. • BECIL, a mini-Ratna PSE offers advisory and consulting services to Indian and overseas customers on the transition from a fossil fuel-based fleet to an electric one. • This MoU aims to prepare a strategic framework for all three players and its scope will cover transition planning and design, as well as the EV charging infrastructure market using battery swapping technology. |
Source: Industry News Articles, JMK Research
Tenders
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Tender Name |
Tendering Authority |
Requirements |
Bid Submission Date |
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Ujjain Municipal Corporation (Madhya Pradesh) |
Tender Value: INR 1 Crore Total number of charging stations: 10 Fast Chargers: 20 Slow Chargers: 4 |
18 May 2022 |
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Western Railways- Vadodara Division (Gujarat) |
Tender Value: INR 34,40,577 Total number of charging stations: 3 Successful tenderer will be permitted to install Charging stations at their own cost and will also be permitted to provide e-cars as Taxis both online & offline, e-Auto Rickshaws & e-Scooters on rental & leasing basis at Vadodara Railway Station for a period of 05 years |
23 May 2022 |
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State Bank of India (SBI) |
SBI is looking to work with business consultants to explore the potential of electric charging infrastructure |
26 April 2022 |
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Bangalore Electricity Supply Company Limited (BESCOM) |
6 May 2022 |
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Central Railways, Mumbai Division |
Supply and installation of 1 EV Charging point for charging one electric car at a time |
10 May 2022 |
Source: Industry News Articles, State Municipal Corporations, JMK Research
Tata emerges as lowest bidder for CESL tender to deploy 5,450 e-buses in Delhi
Tata Motors has been announced as the lowest bidder in the mega tender for 5,450 electric buses floated by Convergence Energy Services (CESL) under the remodelled FAME II scheme, the government said. The price bids of the tender process under the remodelled FAME II scheme for electric buses were opened by Ministry of Heavy Industries (MHI) on 26 April 2022. The tender contains the largest ever aggregation of electric buses – 5450 buses across five major cities which have indicated their demand for such buses. Participating cities are Kolkata, Delhi, Bangalore, Hyderabad, and Surat.
Global Market Updates
GM and Honda expand electric vehicle partnership
General Motors and Honda Motor Co announced plans to co-develop a series of electric vehicles based on a new joint platform, allowing the production of millions of cars starting in 2027. The announcement expands on plans for GM to begin building two electric SUVs for Honda starting in 2024 – the Honda Prologue and an Acura model. The new deal is primarily for affordable EVs, including compact crossover vehicles, built using GM’s Ultium battery technology.
China’s BYD ends combustion engine cars to focus on electric
China’s largest electric vehicle maker BYD Co Ltd said that as of last month it stopped making combustion engine vehicles and now produces electric and hybrid cars only. BYD’s move is in response to Beijing’s pledge to boost green energy consumption to bring carbon emissions to a peak by 2030. BYD is among the six carmakers including Volvo, Ford, General Motors, Mercedes-Benz, and Jaguar Land Rover, to have signed up to a global campaign to phase out combustion engine vehicles by 2040.
Panasonic to invest US$4.9 bn in EV batteries, supply chain software
Panasonic is joining the high-growth electric vehicles market, with plans to invest nearly US$4.9 billion in automotive batteries, supply chain software, and cyber-physical systems, among others, from fiscal 2023 to 2025. Panasonic already has a joint venture with Toyota that specializes in automotive batteries.
Hertz to buy up to 65,000 electric vehicles from Polestar
Rental car firm Hertz Global Holdings announced plans to buy up to 65,000 electric vehicles over five years from Swedish EV maker Polestar. Polestar cars would be available beginning this spring in Europe and later in 2022 in North America and Australia. In March this year, Hertz already added Tesla’s mid-size SUV Model Y to its electric vehicle fleet after announcing its decision in October 2021 to purchase 100,000 electric cars from Tesla Inc.
US safety agency opens probe into batteries
US safety regulators have opened an investigation into electric and hybrid vehicle batteries after five automakers issued recalls due to possible defects that could cause fires or stalling. The National Highway Traffic Safety Administration says the probe covers more than 1,38,000 vehicles with batteries made by LG Energy Solution of South Korea. General Motors, Mercedes-Benz, Hyundai, Stellantis, and Volkswagen have issued recalls since February of 2020.
Japanese OEMs join hands for swappable battery platform
As per a recent announcement, major Japanese OEMs Honda, Kawasaki Motors, Suzuki, Yamaha Motor, and energy firm Eneos Holdings will form a new company christened ‘Gachaco’, for battery swapping service for the new electric motorcycles. Gachaco is scheduled to launch the sharing service using Honda Mobile Power Pack for electric motorcycles in the second half of 2022, starting from Tokyo and other major cities in Japan. Gachaco will also promote the use of standardised swappable batteries for applications such as storage batteries installed at commercial facilities and private homes. In addition, the expended batteries will be collected for secondary and tertiary use and finally recycled for cyclical battery usage.
Honda to launch 30 EVs with US$40 billion investment, will develop three new EV platforms to meet its goal by 2030
Honda plans to launch 30 Electric Vehicle models globally by 2030. This ranges from commercial use mini EVs to flagship class models with production volume of more than 2 million units annually. Honda will be ensuring stable procurement of liquid lithium-ion batteries in each region through this partnership. To meet its goal of building two million electric vehicles by 2030, Honda is also developing three new EV dedicated platforms. One of the platforms will be jointly developed with US partner General Motors Co.
Mercedes-Benz aims to go all-electric by 2030, to cut CO2 emissions by half by 2030
Mercedes-Benz aims to halve its CO2 emissions per passenger car over the lifecycle by the end of 2030 compared to 2020 levels. To achieve this goal, the key levers include electrifying the vehicle fleet, charging with green energy, improving battery technology, an extensive use of recycled materials and renewable energy in production. Mercedes-Benz also plans to cover more than 70 percent of its energy needs through renewable energy by 2030 by rolling out solar and wind power at own sites as well as through further Power Purchase Agreements.
BMW introduces much-awaited first electric 7 series luxury sedan i7 xDrive60
Luxury automobile manufacturer BMW has unveiled its latest all-electric 7 series luxury sedan, the i7 xDrive60. Pre-orders have opened and the U.S. launch is currently planned for Q4 2022. Having an estimated range of up to 300 miles, the i7 will be BMW’s third all-electric vehicle, following the iX crossover and i4 midsize sedan. The car has 536 horsepower and 549 lb-ft of torque that will get you from zero to 60 in 4.5 seconds. Speed is capped at 149 miles per hour.
Ford unveils Lincoln Star electric SUV concept as it readies to add four new EVs by 2026
Ford Motor plans to introduce four new electric vehicles into its Lincoln lineup by 2026, as the prominent American luxury brand reinvents itself to focus on EVs. The new vehicles were announced alongside the unveiling of a new concept EV called the Lincoln Star. The concept marks new design and technology directions for the brand.
Lexus unveils its first Electric Car- RZ 450e
The new Lexus RZ 450e is the Japanese marque’s first bespoke electric car, serving as the spearhead for the firm’s new range of premium and dynamically oriented EVs. Power is stored in a 71.4kWh lithium-ion battery, which is expected to offer a range of up to 362km and offer 90 percent of its usable capacity after 10 years of use. The company has not yet confirmed charging times, but its Toyota sibling can charge at speeds of up to 150kW.
Self Drive Nepal to become exclusive rental partner for BYD electric vehicles
Electric vehicle maker BYD India and its Nepalese partner, Cimex Inc Pvt Ltd, have signed an agreement to supply 50 units of its electric multi-purpose vehicle, e6 electric, with Self Drive Nepal Pvt Ltd for rental fleet operation. Under the agreement, Self Drive Nepal- a subsidiary of Spark Group, will become the exclusive rental partner for BYD electric vehicles. Also, a BYD service center will also be set up at Spark Group’s facility in Guheshwori, Kathmandu, which is scheduled to be operational within May 2022.
Luxury EV maker Lucid scores order from Saudi government for up to 100,000 vehicles
Lucid Group said that the government of Saudi Arabia has agreed to buy up to 100,000 of its electric vehicles over the next ten years. Saudi Arabia’s public wealth fund holds an approximately 62% stake in the U.S.-based automaker, which began production of its Air luxury sedan in September 2021. Saudi Arabia’s Ministry of Finance has agreed to buy at least 50,000 of its vehicles over the next 10 years with an option to buy an additional 50,000 over the same period.