Monthly EV update – July 2021

Monthly EV update – July 2021

monthly electric vehicle

New Product launches

India Launches- July 2021


Vehicle type

Battery specifications

Other specifications


Audi e-Tron 50


· Battery- 71 kWh

· Range- 264-397km

·   Motor Output- 230 Nm

INR 99.99 lakhs

Audi e-Tron 55


· 95 kWh with 8 year/ 160,000 km warranty

· Range- 359-484 km

·   Motor output- 300 Nm

INR 1.16-1.17 crores

Tata XPres-T EV


· Range- 165-213 km

· Battery- 16.5/21.5 kWh

· Charging time- 1.5 hours (0-80%)

·   Motor output- 41PS, 105Nm

·   Launched for fleets

INR 9.75-9.99 lakhs

Source: Industry news articles, JMK Research

Upcoming Launches


Vehicle type

Known/ Revealed specifications

Expected Launch Date

Ola Scooter


·  Motor: 2kW/4kW/7kW

·  Top speed: 45/70/95 kmph

·  Range: 240 km (@ average speed of 20 kmph)

August 2021

Mahindra e-KUV 100


·  Battery: 15.9 kWh with a 54.4PS electric motor

·  Range: 147 km

Second half of 2021

Source: Industry news articles, JMK Research

EV Sales Trends

The registered EV sales in July 2021 witnessed a m-o-m jump of 134.8%, at 26,127 units, clocking the highest registrations in a month so far in 2021. This increase was driven by a jump in E2W registrations following the previous month’s FAME-II notification which increased the incentives on the EVs, further bringing down their prices.

Registered EV sales trend in India (July 2020 – July 2021)

Source: Vahan Dashboard, JMK Research
Note: Sales figures represent EVs registered across 1,304 RTOs in 33 states/ UTs.

Among all the states and UTs, Uttar Pradesh continues to have maximum monthly registered EV sales with 17% of overall sales in India in July 2021. Karnataka has the 2nd highest sales at 15% share, followed by Tamil Nadu (12%) and Maharashtra (10%).

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

Source: Vahan Dashboard, JMK Research
Note: Sales figures represent EVs registered across 1,304 RTOs in 33 states/ UTs.

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

The overall HS-E2W sales in the country in July 2021 stood at 13,345 units, witnessing a 229% m-o-m jump over the previous month’s sales, and a y-o-y leap in registrations of 835.83%. While established players (Hero Electric, Okinawa, Ampere, Ather) continue to dominate the HS market with a 69% share in July-21 sales, other upcoming OEMs in this space such as PurEV (9.8%), Bajaj (5.34%), and TVS (4.8%) too contributed a significant share this month. 

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 1,304 RTOs in 33 states/ UTs.

Electric Three-Wheeler (E3W)

The sales of registered E3Ws (both passenger and cargo-type) in July 2021 is 10,873 units, increasing m-o-m by 89%. This increase was driven by passenger type E3W, which increased by 93.89% over last month, while the share of overall registrations by cargo type E3W fell to 10%.

Sales trend of cargo E3W and passenger E3W

Source: Vahan Dashboard, JMK Research
Note: Sales figures represent E3Ws registered across 1,304 RTOs in 33 states/ UTs.

Electric Four-Wheeler (E4W)

The cumulative sales of E4Ws in July 2021 stood at 967 units, with a m-o-m increase of 66%. This also represents a yoy increase of 173.16%. While Tata Motors continued its dominance in the E4W market, its share dropped from 76% from last month to 66% in July 2021. MG, on the other hand, increased its share from 20% to 29% in the same period.

Player-wise E4W sales trend

Source: Vahan Dashboard, JMK Research
Note: Sales figures represent E4Ws registered across 1,304 RTOs in 33 states/ UTs.

Policies & Regulations

Maharashtra Government unveils its new EV Policy

Maharashtra has unveiled its new policy which came into effect on 13 July 2021 and will be valid till 31 March 2025. With this policy, Maharashtra “aims to accelerate the adoption of BEVs in the state so that they contribute to 10% of new vehicle registrations by 2025.” Demand side incentives under this policy are as follows:

Demand-side incentive structure under Maharashtra’s new EV policy

Vehicle Segment

Target under policy*

Incentive available

No. of vehicles incentivised

Max. incentive per vehicle

Scrappage Incentive



INR 5000/kWh



Up to INR 7,000



INR 5000/kWh

15,000 for autos

INR 30,000

Up to INR 15,000

10,000 for goods carrier



INR 5000/kWh

10,000 for cars

INR 1,50,000

Up to INR 20,000

10,000 for goods carrier

INR 1,00,000

Source: Environment and Climate Change Department, Government of Maharashtra, JMK Research
*Target is defined as the share of EVs in the new vehicle registrations in the state in 2025

On top of these, buyers purchasing EVs before 31 December 2021 will be eligible for ‘Early Bird discount’ of INR 5000/kWh of vehicle battery capacity on top of the incentives mentioned above (maximum incentive capped at INR 1,00,000/vehicle). Along with these, the policy lays out incentives for setting up charging stations, supply-side incentives to attract manufacturing in the state, and the launch of the Zero Emission Vehicle credit programme.

Rajasthan Government to release EV Policy soon, issues notification on EV grants

The Transport Department of Rajasthan issued a notification on 16 July 2021, regarding the state’s EV Policy to encourage EV adoption. As per the notification, a provision is made to reimburse the SGST (State Goods and Service Tax) amount and give a one-time grant to EV buyers (see table below). Recharge of the SGST amount is payable on all types of EVs.

Incentive structure as grants/SGST reimbursements under new notification

Battery CapacityGrant money/ buyer incentive for Two-wheelers via SGSTGrant money/ buyer incentive for Three-wheelers via SGST
Up to 2kWhINR 5,000INR 10,000
Up to 4 kWhINR 7,000INR 15,000
Up to 5 kWhINR 9,000INR 17,000
More than 5kWhINR 10,000INR 20,000

It is to be noted that while the notification mentions that the state will roll out EV policy soon, there is, however, no mention of incentives for 4-wheelers.

Charging Infrastructure

Stakeholder(s)/ Player(s)Subject/ ScopeDescription
Magenta EVLargest public EV charging station Magenta has inaugurated and set up India’s largest public EV charging station in Navi Mumbai. The first of its kind public charging station will be functional 24×7 with 21 AC/ DC chargers for 2-wheelers, 3-wheelers, and 4-wheelers. For vehicles that require AC slow charging, a parking bay has been developed which allows for overnight charging as well. These chargers can be operated through the ChargeGrid App with online remote monitoring which includes an automated payment gateway, thereby eliminating the need of having a station marshal to monitor, maintain & operate the chargers at the location. These chargers are also powered by a combined 40 KW rooftop solar power.
Tata Motors and HPCLSetting up charging infrastructure at HPCL petrol pumpsTata Motors has signed an agreement with Hindustan Petroleum Corporation Ltd (HPCL) to provide end-to-end EV charging stations at HPCL’s retail outlets. 
HPCL and CESLSetting up charging infrastructureConvergence Energy Services Ltd (CESL) has signed an agreement with Hindustan Petroleum Corporation Ltd (HPCL) for setting up charging infrastructure in selected retail outlets in several cities across the country. Spanning 10 years, the agreement entails CESL and HPCL to jointly undertake setting up of EV charging points in Mumbai, Delhi NCR, Bengaluru, Hyderabad, Chennai, Kolkata, and Pune
MG Motors and Fortum EnergySet up of charging stationsMG Motor India and Fortum Charge & Drive India have set up a 50 kW Superfast public EV charging station in Pune. The smart chargers can be accessed by anyone who has an EV car compatible with the CCS2 (Combined Charging System), by registering on Fortum’s mobile app.

Source: Industry news articles, JMK Research


DateCompany nameCompany typeDeal typeInvestor(s)Deal value (in US$ Mn)Details
July-21Ola ElectricEV ManufacturerDebtBank of Baroda100Ola Electric raises $100 million debt for two-wheeler EV hub
July-21Switch Mobility Automotive Ltd, IndiaEV manufacturer EquitySwitch Mobility – An Ashok Leyland subsidiary 18Dana Makes A Minority Investment In Switch Mobility

Source: Industry news articles, JMK Research

JVs and Partnerships

DateCompanies involvedPurpose of PartnershipDetails
July-21ISIE India and MG Motors Setting up a Centre of Excellence for R&D and training ISIE INDIA, MG Motor to set up 100+ Centre of Excellence for EV training, R&D 
July-21Anand Group and Mando CorporationJV to manufacture and supply motor and controller for the emerging two and three-Wheeler electric vehicle market.Anand Mando eMobility JV to supply components for two and three-wheeler EV market 
July-21Mahindra Electric and Magenta EVDeployment of 100 units of Mahindra’s E3W, Treo Zor in Bengaluru for last-mile delivery of essential and non-essential items Mahindra partners with Magenta to deploy 100 electric three-wheelers Treo Zor 

Source: Industry news articles, JMK Research

Lithium-ion Import Trends

The total value of li-ion accumulators (or energy storage devices) imported by India in April 2021 amounted to US$ 118.43 million, signifying a 278% y-o-y rise but a m-o-m decline of 16%. The import value for May 2021, on the other hand, provisionally stands at US$ 94.41 million signifying a further m-o-m fall of 20%, while showing a y-o-y growth of 78%.

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).
*May 2021 figure is provisional.

Global Market Updates

Mercedes-Benz to go all electric by 2030

Mercedes has revealed an ambitious plan to go all-electric by 2030 “where market conditions allow”. Included in a wide-reaching plans on how it will ramp-down investment in combustion engines and reduce EV manufacturing costs. Most notably, it will introduce four all-new and bespoke EV platforms by 2025, and has committed to building eight new battery factories worldwide. To support this rapid EV expansion, Mercedes has committed to building eight new battery ‘gigafactories’ worldwide, one of which will be in the US, along with four in Europe, for a total production capacity of 200GWh.

TotalEnergies to buy EV charging network in Singapore

TotalEnergies SE has agreed to buy Singapore’s largest electric vehicle charging network from fellow French firm Bollore Group. Known as ‘Blue Charge’, the network consists of more than 1,500 charge points installed in the city-state and represents about 85% of the charge points operating in Singapore.

Suzuki to enter Indian EV Market by 2025

Maruti Suzuki’s parent company, Suzuki Motor Corp, will enter the EV market by 2025, starting with the India market. Reports suggest that an all-electric model will be launched, which will be an iteration of the Celerio, which will cost around 1.5 million Yen (INR 10-11 lakh). The company also plans to invest INR 18,000 crore for a new production facility in Haryana.

Biden Seeking Pledge for 40% of Car Sales to Be EV by 2030

The White House is negotiating to have automakers pledge that 40% or more of the vehicles they sell in the U.S. will be electric by 2030, something the companies say will require the government to help promote the use of the cars. A pledge on new car sales would be significant because while some U.S. automakers have promised to convert their model lineups to electric vehicles, they haven’t made any promises on volumes. Automakers are looking for support from the government in meeting those goals, such as subsidies or funding for charging infrastructure like that contained in a bill working its way through the Senate.

EV startup Rivian announces $2.5 bln funding round led by Amazon, Ford

Electric vehicle start-up Rivian claims to have closed a $2.5 billion funding round led by existing investors Amazon, Ford Motor, and T. Rowe Price. The company said it has raised about $10.5 billion to date. Rivian closed a $2.65 billion investment round in January 2021 and another $2.5 billion round in July 2020. It raised $1.3 billion in December 2019 and at least $1.5 billion before that.

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