Monthly EV update – January 2022

Monthly EV update – January 2022

monthly electric vehicle

New Product Launches

Product

Vehicle type

Battery specifications

Other specifications

Price

Komaki Ranger

E2W (E-Cruiser Bike)

·  Range- 200 km

·  Battery: 4kWh Li-ion

·  Charging time- 4 to 6 hours

Motor Output- 4 kW

INR 1.68 lakhs

Komaki Venice

E2W

·  Range- 120 km

·  Battery- 2.9 kWh

  Motor Output- 3 kW

INR 1.15 lakhs

Tork Motors Kratos

E2W (E-Bike)

·  Range- 120 km

·  Battery- 4 kWh

·  Top Speed- 100 km/hr

·  Max. Power- 7.5 kW

INR 1.08 lakhs

Tork Motors Kratos-R

E2W (E-Bike)

·  Range- 120 km

·  Battery- 4 kWh

·  Top Speed- 105 km/hr

·  Max. Power- 9 kW

INR 1.23 Lakhs

Ignitron Motocorp Bob-e

E2W (E-Bike)

·  Range- 110 km

·  Battery: 2.88 kWh Li-ion

·  Charging time- 4 to 5 hours

·  Top Speed- 85 km/hr

·  Three Riding modes- Eco, Normal, Sport

Mahindra e-Alfa

E3W Cargo

·  Range- 80 km

·  Top speed- 25 km/hr

·  Motor Output- 1.5 kW

INR 1.44 lakhs

Source: Industry news articles, JMK Research

Surat’s Zoomroo launches HiLoad electric three-wheeler cargo vehicles in India

Zoomroo, an electric vehicle brand of the Surat-based Zoomroo Electric, launched electric three-wheelers for different use categories such as garbage disposal, freight loaders, and passenger auto. Vani Fincom Limited is the financing partner of Zoomroo Electric. The company has announced up to 30% of relief in the down payment to purchase Zoomroo electric 3W vehicles.

Upcoming Launches

Product

Vehicle type

Known/ Revealed specs.

Expected Launch Date

HOP Electric OXO

E2W

·   Top Speed- 90 km/hr

·   Range- 130 km

Launch date: April 2022

Expected Price: INR 1.3 Lakhs

HOP Electric High-speed scooter

E2W

·   Top Speed- 65 km/hr

·   Range- 150 km

Launch date: May 2022

Expected Price: INR 75,000

Source: Industry news articles, JMK Research

Kinetic Green to enter Indian E2W market with China’s Aima

Kinetic Green has partnered with China’s Aima to enter the Indian electric two-wheeler market. Together, they plan to launch at least three new models in 2022-23, including models from Aima’s high-speed scooter platform. Through this partnership, Kinetic aims to build a capacity of 500,000 units a year in the next two years.

Mercedes-Benz to launch electric vehicle model, assemble EQS in India

Luxury car market leader Mercedes-Benz India will launch another electric vehicle (EV) model and assemble it locally. This will be one of the 10 models the company plans to introduce in the current year as it seeks to fortify its position in the Indian market. It will launch the EQC, the five-seater electric sedan in India, in the fourth quarter of 2022.

EV Sales Trend

The overall EV sales in January 2022 clocked 49,672 units, signifying a slight m-o-m fall of 2.4% but y-o-y jump of 197%.

Registered EV sales trend in India (Jan 2021–Jan 2022)

Source: Vahan Dashboard, JMK Research

Note: Sales figures represent EVs registered across 1,386 RTOs in 33 states/ UTs.

As depicted in the figure below, EV registrations in January 2022 were driven by electric two-wheelers and passenger-type electric three-wheelers, which together accounted for 89.8% of total registrations in the month. The shares of these categories were followed by e-cars (6.1%) cargo-type electric three-wheelers (3.8%), and so on.

Category-wise EV sales in January 2022

Source: Vahan Dashboard, JMK Research

Note: Sales figures represent EVs registered across 1,386 RTOs in 33 states/ UTs; Others include adapted vehicles, fork-lifts, goods carriers, and trailer (agriculture) vehicles.

Among all the states and UTs, Uttar Pradesh continues to have maximum monthly registered EV sales with a 20% share in overall sales in India in January 2022. Maharashtra has the 2nd highest sales at 12% share, followed by Karnataka (10%), Tamil Nadu (9%), Delhi (7%), and Rajasthan (7%).

(State/ UT) Region-wise registered EV sales – January 2022

Source: Vahan Dashboard, JMK Research

Note: Sales figures represent EVs registered across 1,386 RTOs in 33 states/ UTs.

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

The overall HS-E2W sales in the country in January 2022 stood at 27,568 units, signifying a 11% m-o-m and a 463% y-o-y leap in registrations. The Top 10 players, as shown below, accounted for 93% of the total registrations recorded in the month of January 2022.

High-Speed E2W sales trend

Player-wise High-Speed E2W sales trend

Source: Vahan Dashboard, JMK Research

Note: Sales figures represent only high-range E2W (Top speed > 25 kmph) registered across 1,386 RTOs in 33 states/ UTs. Others include GoGreen E-mobility Private Limited, MEW Electricals Ltd, KLB KOMAKI, and 20 other players

Electric Three-Wheeler (E3W)

The sales of registered E3Ws (both passenger and cargo-type) in January 2022 stood at 18,930 units, signifying a 19% m-o-m fall, but a 78% y-o-y increase.

Sales trend of cargo E3W and passenger E3W

Source: Vahan Dashboard, JMK Research

Note: Sales figures represent E3Ws registered across 1,386 RTOs in 33 states/ UTs; Passenger and Cargo E3W 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 January 2022 accounted for 36% share of the entire E3W market. YC Electric Vehicle had the highest share of 8.9%, which was followed by Mahindra Electric Mobility (7.6%), Saera Electric Auto (4.8%), Champion Poly Plast (3.9%), Dilli Electric (3.9%), Best Way Agencies (3.5%), and Unique International (3.4%).

Top E3W Players in January 2022

Source: Vahan Dashboard, JMK Research

Note: Others made up 64% of the E3W markets in December 2021; sales figures for players are inclusive of both cargo and passenger offerings; Sales figures represent E3Ws registered across 1,386 RTOs in 33 states/ UTs; Passenger and Cargo E3W 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 January 2022 stood at 3,021 units, witnessing an m-o-m increase of 20% but a y-o-y surge of 386% in registrations. Tata Motors drove the e-car sales this month, accounting for 96% of the total registrations in January 2022.

Player-wise e-car sales trend

Source: Vahan Dashboard, JMK Research

Note: Sales figures represent e-cars registered across 1,386 RTOs in 33 states/ UTs.

Electric buses (E-buses)

The cumulative sales of e-buses in January 2022 stood at 126 units, with a m-o-m fall of 43% but a y-o-y surge of 223%. This month’s sales were driven by PMI Electro which accounted for 66% share of the total e-bus sales in January 2022, followed by Olectra Greentech (18%), and JBM Auto (16%).

Player-wise e-bus sales trend

Source: Vahan Dashboard, JMK Research

Note: Sales figures represent e-buses registered across 1,386 RTOs in 33 states/ UTs.

Policies & Regulations

Government to soon release policy and guidelines for battery swapping and interoperability standards

The government will introduce the new policy for battery swapping and interoperability standards to encourage the use of electric vehicles and achieve its broader decarbonization goals. With respect to announcements related to electric vehicles, Finance Minister Nirmala Sitharaman in her Budget 2022 speech said the govt will come out with a battery-swapping policy that will develop special mobility zones for EVs.

Niti Aayog plans to set up EV charging infra at railway stations

The Niti Aayog has prepared a draft policy for the Indian Railways to set up electric vehicle (EV) charging infrastructure at railway stations across the country, in a bid to promote the use of such vehicles. The draft policy, which has been shared with the ministry of railways, also recommends supply of renewable energy to the charging facilities in line with Indian Railways’ aim to become net-zero carbon emitter by 2030. Niti Aayog CEO Amitabh Kant revealed that the policy is under discussion with the ministry of Railways and the apex public policy think tank has recommended that while the railways can plan to put in place EV charging facilities at all stations in a phased manner till 2030, the facility can be immediately provided at 123 redeveloped railway stations.

Delhi govt launches portal for info on EVs

In view of providing all necessary information on electric vehicles (EVs) in the national capital on a single platform, the Delhi government launched a dedicated portal. The website contains information on EV models available in the market, savings, and charging facility among others.

Centre asks Chandigarh admin to submit report on e-vehicle policy

The Union government has sought a progress report on the e-vehicles policy and steps initiated to promote electric vehicles in the city. Recently, the Centre had sanctioned 80 electric buses for Chandigarh under Phase-II of the FAME India Scheme. The first batch of electric buses have already started playing on city roads. At present, around 3,000 e-rickshaws ply in the city. The ministry of heavy industries and public enterprises has suggested initiatives to promote these vehicles by waiving of toll charges, parking charges and issuance of green registration number plates.

Delhi govt to inaugurate first 100 electric buses on January 14

Delhi government announced that it has received a prototype of DTC’s first 100% Electric buses and will inaugurate these buses on January 14. This is an outcome of a proposal approved by the Delhi Cabinet in March for the engagement of 300 Low-Floor Fully Electric Air-Conditioned buses by DTC under the Centre’s ‘Faster Adoption and Manufacturing of Hybrid and Electric Vehicles in India [FAME] Phase-II’ Scheme.

IREDA launches scheme to finance battery storage, green hydrogen and fuel cell technologies

The Indian Renewable Energy Development Agency (IREDA), State-controlled renewable energy and energy efficiency lender under the Ministry of New and Renewable Energy, has launched a scheme to finance new and emerging technologies that promote and increase the usage of renewable energy in the transport sector. Under the scheme, it shall also provide finance for EV fleet owners/operators and charging infrastructure owners—thus financing the entire value chain of green mobility. Technologies eligible for financing include battery energy storage systems (BESS) and batteries, projects involving production of green hydrogen (electrolyzers), fuel cells, manufacturing/ assembling plant of EVs and associated components, and waste recycling units to meet the demands of the renewable energy sector, electric mobility and BESS segments.

Revised Consolidated Guidelines & Standards for Charging Infrastructure for Electric Vehicles (EV) Promulgated) Promulgated by Ministry of Power

The Union Ministry of Power has promulgated the revised consolidated Guidelines & Standards for Charging Infrastructure for Electric Vehicles (EV) on 14th January,2022. These guidelines are exhaustive and include provisions for a) individual owners of Electric Vehicles: b) for Public Charging Stations (PCS). In a significant step, Owners may charge their Electric Vehicles at their residence/offices using their existing electricity connections. Infrastructure requirements for Public Charging Infrastructure as well as for Public Charging Infrastructure for long range EVs and/or heavy duty EVs have been outlined.

Delhi govt makes it mandatory for ride aggregators, delivery services to adopt EVs in new fleets

To combat the perennial air pollution problem in the National Capital, Delhi government announced has mandated all ride aggregators and delivery services to ensure that 10 percent of all new two-wheelers and five percent of all new four-wheelers are electric vehicles in the next three months. They would also have to ensure that 50 percent of all new two-wheelers and 25 percent of all new four-wheelers are electric by March 2023. With this, the Delhi government has become the first to notify an Aggregator’s Policy to mandate EV fleets.

Charging Infrastructure and Battery Swapping

Stakeholder(s)/ Player(s)

Subject/ Scope

Description

EvGateway

Setting up operations in India to operate EV Charging stations

•        EvGateway, a California-based turnkey EV infrastructure solutions provider, has announced the launch of its operations in India

•        EvGateway will deliver advanced controls and features to fleet operators, large enterprises, and charging station owners, to allow them to effectively manage and optimise their own EV infrastructure.

•        The company provides intelligent and advanced EV charging management services for customers of all industries and varied charging requirements.

TCIL

Setting up charging station

·        TCIL, a mini Ratna category-1 status company under the Department of Telecommunications, Ministry of Communications, with support of South Delhi Municipal Corporation (SDMC) launched the first e-vehicle charging station in South Delhi area at South Extn. Part I

·        This e-vehicle charging station is first one in series of 65 e-charging stations to be setup by TCIL in progressive manner in next four months in South Delhi area within easy reach of citizens of Delhi. Each charging station can charge 6 Two/Three/Four wheeler vehicle simultaneously.

·        The charging stations are equipped with CCTV surveillance & Wi-fi facility for use by common public. It is also powered by a 6 kW solar panel

Humsafar

Setting up battery swapping stations across India

•        Humsafar India, an app-based diesel-at-doorstep service provider, will foray into the electric vehicle (EV) charging and battery replacement business and plans to set up charging stations in Delhi and Noida, to begin with.

•        It is in talks with oil marketing companies to set up charging stations in urban centers, starting with Delhi, which has clocked one of the highest number of e-vehicles sales in the country.

EVRE

Setting up charging stations

·        Electric vehicle charging service provider EVRE has unveiled plans to have around 1,000 tech enabled EV charging hubs by the end of 2023

·        The company aims to accomplish this milestone in partnership with individual partners, wherein EVRE will continue to remain a technology enabler, and the partners will own the hubs including land, charging stations, civil and electrical infrastructure.

·        According to the early estimate, a total of Rs 500 crore of cumulatively inclusive investment will be required to achieve this milestone

India’s largest EV charging station opened at National Highway in Gurugram

Set up of largest- charging station on highways in India

·        India’s largest electric vehicle (EV) charging station with a capacity of 100 charging points for 4 wheelers, was opened at Delhi-Jaipur National Highway in Gurugram.

·        Previously, India’s largest EV charging station was situated in Navi Mumbai with 16 AC & 4 DC charging ports for EVs.

·        The new EV charging station has been developed by tech-piloting company Alektrify Private Limited.

Reliance Jio-bp

Setting up electric vehicle charging solutions in Delhi

·        Reliance BP Mobility Limited, operating under the brand name Jio-bp, is working with multiple demand aggregators, original equipment manufacturers (OEMs) and technology partners with a vision of being the leading EV charging infrastructure player in India

·        Jio-bp has constructed and launched one of the country’s largest EV charging hubs in Dwarka, Delhi with BluSmart as its primary customer

IIT BHU (Varanasi)

Development of more affordable EV Charging infrastructure

·        Researchers from various IITs have developed a new technology for charging which costs about half of the current on-board charger technology and can help to significantly reduce the cost of two-and four-wheeler EVs. According to the team, the lab scale development has already been done at IIT (BHU) and upgradation and commercialization is in progress.

·        The technology has been developed at IIT (BHU), Varanasi, in collaboration with experts from IIT Guwahati and IIT Bhubaneshwar.

CESL

Installation of charging stations and battery swapping stations

·        The Delhi government signed an agreement with the Convergence Energy Services Limited (CESL) for installation of charging and battery swapping stations for electric two-, three-, and four-wheelers at cluster bus depots of its Transport Department.

·        Each charging and battery swapping facilities will be installed at 14 locations. Each will include six charging points, three of which will be for two- and three-wheelers while three points will be meant for four-wheelers.

·        Under the Memorandum of Understanding (MoU) signed by the Transport department, CESL has agreed to procure, install, operate, and maintain charging units and related infrastructure at its cost and expense.

Honda Motors

For setting up battery swapping for three-wheelers

·        Japanese automaker Honda Motors will roll out its battery-swapping services for electric three-wheelers in Bengaluru from June this year with seven stations, before expanding to 50 over the next one and half years.

·        Honda Power Pack Energy India, a subsidiary of the automaker, has already invested Rs 135 crore to roll out the service.

CESL

Installation of charging stations Pan-India

·        State-run Energy Efficiency Services Limited (EESL) subsidiary, Convergence Energy Services Limited (CESL) has announced its plans to install 900 electric vehicles (EV) charging stations in the country by 2022.

·        As of date, 396 charging stations have been installed across the country, out of which 166 are commissioned.

ElectiVa

Setting up charging stations in Delhi

·        Delhi-based start-up ElectiVa has won a contract for installing and operating 100 electric vehicle charging stations in the state.

·        The Company plans to install over 50,000 electric vehicle charging stations across the country in the next 4 years.

Source: Industry news articles, JMK Research

Other EV Updates

Sonae collaborates with IIT Bombay to organize first-of-its-kind E-Bike Design Challenge in India

Sonae, an EV-Startup based out of Pune, has collaborated with IIT Bombay to organize a nation-wise E-Bike Challenge. This challenge is designed to test the skills and thinking powers of participants with regards to a workable Electric Commuter Bike design. The bike designed should be designed for daily commute of working professionals, students and delivery executives. Winners will get a cash prize of INR 1,00,000 and the second winner will get a prize of INR 50,000. Details for the competition can be found by clicking at the header above.

Mad Over Wheels announces its online, cashless EV AMC Platform Su-Raksha

Mad Over Wheels recently unveiled Su-Raksha, an innovation of the Annual Maintenance Program, India’s 1st organised program for Electric Mobility for Consumers and Last Mile partners. Mad Over Wheels has also partnered with Ampere Electric to extends these benefits to Ampere’s customers.

Investments

DateCompany nameCompany typeDeal typeInvestor(s)Deal value (ins US$ Mn)Details
Jan-22EVageElectric Delivery Van (Cargo) OEMEquityRedBlue Capital28Indian EV startup EVage raises $28 million, will build electric vans for Amazon
Jan-22ePlane CompanyFlying Taxi OEMEquitySpeciale Invest and Micelio followed by Naval Ravikant, 3one4 Capital, UTEC (University of Tokyo Edge Capital), Anicut Capital, Infoedge, Prashant Pitti (co-founder of Easemytrip), Thought Ventures, Java Capital, and Firstcheque.v.c.5ePlane Company raises USD 5 mln funding from Speciale Invest, Micelio, others
Jan-22VAAN Electric Moto Pvt LtdLifestyle and E-Mobility Start-upEquityAsian Energy Services Limited0.81Asian Energy Services invests in VAAN Electric Moto
Jan-22Oben EVEV Start-upEquityKrishna Bhupal and Shajikumar Devakar1EV startup Oben Electric raises $1 million from investors
Jan-22Ola ElectricEV Start-upEquityTekne Private Ventures, Alpine Opportunity Fund, Edelweiss200Bhavish Aggarwal-led Ola Electric valuation tops $5 bn with $200 mn funding
Jan-22Cellestial E-MobilityE-Tractor Start-upAcquisitionTube Investments of India (TII)21.55Tube Investments picks up 70% stake in Cellestial

Source: Industry news articles, JMK Research

TVS acquires 75 percent stake in Swiss e-Mobility Group

TVS Motor Company has taken a new step in its overseas expansion plans by acquiring a 75 percent stake in Swiss e-Mobility Group (SEMG).  SEMG provides e-mobility solutions within the DACH region (Germany, Austria and Switzerland), operating the largest pure-play e-bike retail chain M-way in Switzerland, with close to $100 million in revenue. TVS’ latest acquisition is in line with its plans to expand its footprint on a global level. The company is focusing on building a portfolio of premium and technology-driven brands, including Norton Motorcycles and EGO Movement. 

Switch Mobility closing in on $200 million fund raise

Switch Mobility, the electric vehicle arm of India’s second-largest truck maker Ashok Leyland, is in the final stages of raising $200 million dollars at a valuation of over $1.4 to $1.8 billion to fund its capex plans as per reports. The funds will be utilised to develop a range of electric bus and vans for both India and the West over the next 24 months.

Hero MotoCorp to invest INR 420 cr more in EV startup Ather Energy

Country’s largest two-wheeler maker Hero MotoCorp announced a new investment of up to INR 420 crore in the Bengaluru-based electric scooter startup Ather Energy. The company’s board has approved the investment in one or more tranches. Prior to the proposed investment, Hero MotoCorp’s shareholding in Ather Energy was 34.8% (on a fully diluted basis). The company is also exploring collaborations with Ather Energy in various spheres, such as charging infrastructure, technology, and sourcing.

Hero MotoCorp to invest in Gogoro’s EV battery swap technology

Hero MotoCorp, along with investment firm Engine No 1 and another investor, will invest in Taiwanese company Gogoro, the company that has pioneered EV battery swap technology, and Poema Global Holdings, a special purpose acquisition company. Hero had earlier invested INR 420 crore in Electric Scooter startup Ather Energy.

Bajaj Auto to invest INR 1,000 cr under PLI scheme to accelerate EV production

Bajaj Auto has proposed to invest more than INR 1,000 crore, which will include investments in a new unit for electric vehicles, under the production linked incentive (PLI) scheme as the leading two and three-wheeler player accelerates plans to widen its electric vehicle portfolio.

The company has applied for the PLI scheme under which INR 1,000 crore of investment will be done over the next five years. The proposed investment outlay will include INR 300 crore of investment in a new unit at the Pune factory complex, which will have half a million-production capacity per annum for electric two-wheelers and the first vehicle is expected to be rolled out by June 2022.

JVs and Partnerships

Companies involved

Purpose of Partnership

Simple Energy partners with Siemens, PROLIM for EV technology

·        Under the partnership, Simple Energy will be adopting Siemens’ Teamcenter X, a cloud-based Product Lifecycle Management (PLM) software, which will help the company establish a strong digital foundation for its e-mobility solutions.

·        It has also roped in PROLIM, Siemens’ Technology Partner, to share its technologies

Zypp Electric partners Mechanifyspares for EV spare parts

·        Zypp Electric has announced its partnership with Mechanifyspares, an online platform dedicated to providing auto components and spare parts for EVs, to procure and repair the 5000+ EVs currently on road.

·        Zypp will also enable Mechanifyspares in becoming a one-stop solution for all sorts of EV challenges related to maintenance and repairing

ToneTag partners with Elocity to solve payment issues in EV sector

·        ToneTag, which uses encrypted sound waves to make offline, proximity based contactless payments on any device, is collaborating with Elocity, an electric vehicle (EV) charging solutions company, to solve payment processing challenges in the EV sector.

·        Through this strategic partnership, EV drivers with any mobile phone will be able to pay easily at Elocity HIEVTM and ToneTag-enabled EV charging stations,irrespective of their location or network availability.

Electric One inks strategic partnership with Ipower Batteries for battery retailing in India

·        Electric One has announced its strategic partnership with Ipower Batteries for retailing the batteries in their multi-brand eMobility store chains across India

·        The partnership will provide battery solutions for several electric two- and three-wheeler vehicles and such battery solutions are also interoperable across vehicle platforms. According to a media release, these batteries will possess built-in GPRS, SIM, and computing power for live monitoring and can be operated and controlled remotely as well.

Hero Electric ties up with Shriram City Union to offer solutions to electric two-wheeler buyers

·        Hero Electric tied up with Shriram City Union Finance to facilitate loan schemes for its electric two-wheeler buyers.

·        The partnership will enable customers to avail a fully digital and paperless loan procedure with on-the-go financing options available 24 hours across the country

Hero Electric, Mahindra Group team up to manufacture electric vehicles

·        Hero Electric has struck up a five-year strategic partnership with the Mahindra Group, to manufacture electric vehicles by using the latter’s production facility.

·        The partnership will help Hero Electric to more than double capacity to 1 million units by 2022 and will result in extra revenue for M&M at a time when auto sales have slowed.

·        According to an exchange filing, the company estimates the value of the transaction to be in the range of INR 140-150 crore over the contract period

Hero Electric partners with Turtle Mobility to address last-mile delivery challenges

·        Hero Electric, announced its partnership with Turtle Mobility, a start-up offering last-mile delivery connectivity solutions to e-commerce and grocery companies.

·        Hero Electric has been associated with Turtle Mobility since July 2021 and has delivered 100 NYX scooters. Looking to convert 35 per cent of sales from the B2B segment in the next four years, Hero Electric is maximising efforts towards EV transition in India.

OSM partners with SUN Mobility to deploy 10,000 commercial EVs with swappable batteries

·        Omega Seiki Mobility (OSM), the auto business vertical of the Anglian Omega Group, announced a strategic alliance with the Bengaluru-based SUN Mobility, an EV technology solutions company.

·        The partnership plans to initially launch 10,000 units of OSM Rage+ with swappable batteries across the country. This collaboration will give OSM the access to SUN Mobility’s nationwide network of Swap Points with advanced Quick Interchange Station (QIS) and real-time visibility via a state-of-the-art, IOT based, end-to-end energy infrastructure management platform. Swap Points are available at convenient locations such as IOCL fuel stations

LML ropes in Saera Electric Auto as a contract manufacturer

·        LML, which announced its plans to make a comeback in the Indian two-wheeler market through the electric vehicle route, has announced a strategic tie-up with Saera Electric Auto, which manufactured vehicles for Harley Davidson.

·        As per the understanding, Saera’s state-of-the-art facility located at Bawal, Haryana will produce the upcoming LML electric vehicles. LML intends to build a future-ready manufacturing facility using Saera’s cutting-edge technology and processes.

·        The manufacturing plant spans 217,800 square feet has a capacity to produce 18,000 units per month.

Zypp Electric’s two-wheelers to be integrated onto Battery Smart’s network

·        Under the partnership, 2,000 Zypp Electric two-wheelers will be integrated onto BatterSmart’s network and riders will have access to over 175 swap stations across the Delhi-NCR region. A pilot of 200 vehicles is already underway.

TVS Motor Company, Swiggy join hands for food delivery on electric vehicles

·        TVS Motor Company, the flagship company of $8.5 billion TVS Group, and food delivery major Swiggy have entered into a strategic partnership to use TVS Motor’s electric vehicles for food delivery and other on-demand services.

Altigreen partners with Massive Mobility to install 25,000 EV charging stations in two years

·        Altigreen, Bengaluru-based leading commercial electric vehicle manufacturer, has joined hands with Delhi-based EV charging solutions start-up Massive Mobility.

·        As a part of this partnership, they will install 25,000 on-demand charging stations in India in the next two years.

Source: Industry news articles, JMK Research

Tenders

Tender NameTendering AuthorityBid Submission DateTender ID
Request for Proposal for selection of Bus Operator for procurement, operation and maintenance of 5450 Electric Buses and 135 Double Decker Electric buses and allied electric and civil infrastructure on Gross Cost ContractConvergence Energy Services Limited (CESL)7 March 2022CESL/06/2021-22/GC/Electric Buses/212201006

Global Market Updates

Renault-Nissan Alliance Plans $25.7 Billion in Electric Vehicle Spending

The Nissan auto alliance will invest more than $25 billion in electric vehicles over the next five years, marking the latest massive cash injection into the fast-growing sector by the auto industry. Nissan, Renault and Mitsubishi Motors said the latest outlay followed $11 billion already spent on its “offensive strategy in electrification”, promising 35 new electric models by 2030.

GM Will Invest $7B in Michigan Plants to Make Electric Vehicles and Batteries

General Motors is making the largest investment in company history in its home state of Michigan, announcing plans to spend nearly $7 billion to convert a factory to make electric pickup trucks and to build a new battery cell plant. The moves in the state capital of Lansing will create up to 4,000 jobs and keep another 1,000 already employed at an underutilized assembly plant north of Detroit.

Bentley to launch five EVs starting in 2025

Bentley to launch as many as five EV models starting from 2025, the year it will launch the first one. The electric cars will be manufactured from Bentley’s facility in UK’s Crewe. The facility will also be reconfigured in order to set up assembly line for the upcoming electric cars. In order to do that, Bentley will extend on-site energy production and increase the number of solar panels from 30,000 to 40,000 in the next two years.

iPhone maker Foxconn seals EV partnership with Indonesia

Taiwan-based Foxconn has partnered with Indonesia’s Investment Ministry and several companies to support the development of electric cars in the Southeast Asian country, adding to a string of such deals by the iPhone assembler. Foxconn, Apple’s main iPhone maker, has expanded its activities in electric vehicles in recent years, announcing deals with US startup Fisker Inc and Thailand’s energy group PTT PCL.

Toshiba launches 20Ah-HP SCiB rechargeable Li-ion battery; high energy and high power

Toshiba Corporation expanded its SCiB product offering with the launch of a 20Ah-HP rechargeable lithium-ion battery cell that delivers high energy and high power at the same time. The new cell is suited for heavy-load applications where high-power input and output are essential, and for situations where battery cells must suppress heat and operate continuously, such as rapid charging of commercial vehicles, regenerative power systems for rolling stock, and industrial equipment.

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