Monthly EV update – May 2021

Monthly EV update – May 2021

monthly electric vehicle

New Product launches

India Launches – May 2021

Product Vehicle type Battery specifications Other specifications Price
White Carbon GT5 2-wheeler Range – 100 km Battery – 1.8kWh/2,4kWh (Li-ion) Top speed – 50 km/hMotor – 3000 W BLDC(Supplied by Bosch) INR 1,15,000  
White Carbon O3 2-wheeler Range – 60km/120km Battery – 48V 20AH/48V 24AH (Li-ion) Top speed – 25 km/hMotor – 250 W BLDC INR 55,900  

Source: Industry news articles, JMK Research

Upcoming India Launches

Product Vehicle type Known/ Revealed specs. Expected Launch Date
EeVe Soul 2-wheeler Range – 130 km Speed – 70km/hr July 2021
Simple Energy Mark-2 2-wheeler Range – 240 km Speed – 100km/hrBattery – 4.8kWh August 2021
Audi e-Tron 4-wheeler Battery- 95kWhRange- 500kmTop speed – 200km/hrMotor- 125kW in front and 140kW in rear June 2021

Source: Industry news articles, JMK Research

The registered EV sales in May 2021 is at a 1-year low with registrations at 3,303 units. The socio-economic restrictions (owing to covid-19 pandemic) across several parts of the country has impacted the May-2021 sales, which saw – 77% m-o-m and +159% y-o-y change. 

Registered EV sales trend in India (May-2020 – May-2021)

ev update may 2021

Source: Vahan Dashboard, JMK Research

Note: Sales figures represent EVs registered across 1,293 RTOs in 33 states/ UTs.

Among all the states and UTs, Uttar Pradesh continues to have maximum monthly registered EV sales with 19.4% of overall sales in India in May 2021. Assam has the 2nd highest sales at 12.3% share, followed by Maharashtra (10.7%).

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

ev update may 2021

Source: Vahan Dashboard, JMK Research

Note: Sales figures represent EVs registered across 1,293 RTOs in 33 states/ UTs.

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

The overall HS-E2W sales in the country in May 2021 is 1,038 units only, plummeting 80% below previous month’s sales. The share of the top 4 (Hero Electric, Okinawa, Ampere, Ather) players is 67% in the May-21 sales.   

Player-wise High-Speed E2W sales trend

Source: Vahan Dashboard, JMK Research

Note: Sales figures represent only high-range E2W (Top speed > 25 kmph) models registered across 1,293 RTOs in 33 states/ UTs.

Electric Three-Wheeler (E3W)

The sales of registered E3Ws (both passenger and cargo-type) in May 2021 is 1874 units, declining m-o-m by ~75%. The share of cargo-type E3W in the overall E3W sales in the corresponding month has fallen further to 6.6%.

Sales trend of cargo E3W and passenger E3W

Source: Vahan Dashboard, JMK Research

Note: Sales figures represent E3Ws registered across 1,293 RTOs in 33 states/ UTs.

Electric Four-Wheeler (E4W)

The cumulative sales of E4Ws in May 2021 fell by 61% m-o-m to 234 units, however, it saw a 185% y-o-y increase. Tata motors maintains the maximum share in the E4W market with 77% share in May 2021 sales, followed by MG Motor at 20% share. 

Player-wise E4W sales trend

Source: Vahan Dashboard, JMK Research

Note: Sales figures represent E4Ws registered across 1,293 RTOs in 33 states/ UTs.

Policies and Regulations

Cabinet approves PLI Scheme for Advanced Chemistry Battery Cells

The Union cabinet has given its approval to introduce a PLI (Production-Linked Incentive) scheme for ten priority sectors. Advance Chemistry Cell (ACC) Battery sector is placed under first priority with an outlay of INR 18,100 Crore over a five-year period. The PLI scheme for ACC battery will incentivize large domestic and international players in establishing a competitive ACC battery set-up in the country. The manufacturing of ACCs will facilitate demand for EVs, which are proven to be significantly less polluting. Under this scheme, the following benefits are expected:

  • Net savings of INR 2,00,000 crore to INR 2,50,000 crore on account of oil import bill reduction during the period of this Programme due to EV adoption as ACCs manufactured under the Programme is expected to accelerate EV adoption.
  • Direct investment of around Rs.45,000 crore in ACC Battery storage manufacturing projects
  • Import substitution of around Rs.20,000 crore every year

Government announces waiver on Registration Certificates and renewal of RC for EVs

Ministry of road transport and highways issued a draft notification to amend the Central Motor Vehicles Rules, 1989 proposing to exempt battery operated vehicles (BOV) from payment of fees for the purpose of issue or renewal of registration certificate (RC) and assignment of new registration mark.

Maharashtra aims to become leader with new EV Policy

The Maharashtra government has revealed its Electric Vehicle Policy 2021, which is awaiting approval from the state cabinet. Salient features of this policy are: 

  • To promote EV adoption in the state with a target of 10% of all new registrations by EVs by 2025. 
  • To switch all government vehicles in major cities such as Mumbai, Pune, Aurangabad, Nagpur and Nashik to EVs. The policy also aims at converting 25% of existing public transport infrastructure to fully electric by 2025 in the abovementioned cities
  • To make its 4 major highways networks (Mumbai-Nagpur Expressway, Mumbai-Pune Express Highway, Mumbai-Nashik, and Nashik-Pune) EV-compliant by 2025. Additionally, 1500 charging stations Mumbai, 150 in Nagpur, 100 in Nashik and 75 in Aurangabad have been proposed.

On approval, this policy will be implemented from April 2022.

Two Amendments added to the Karnataka EV Policy to attract investments

The two amendments are as follows:

  • 15% capital subsidy to investors in the EV Sector on value of fixed assets over five equal annual payments. Maximum land area covered under this scheme is 50 acres.
  • Production-linked subsidy of 1% on turnover will be provided for a period of 5 years starting from the first year of commercial operations for large, mega, ultra and super mega EV assembly
  • Amendments also include clause to encourage EV manufacturers for in-house training by providing a stipend of 50% of the training cost, with a limit of INR 10,000 per month per trainee

Charging Infrastructure

Stakeholder(s)/ Player(s)Subject/ ScopeDescription
Tata Motors and Tata PowerSetting up EV Charging stations Tata Motors and Tata Power installed 2 fast-charging stations in Bhubaneshwar, 1 in Cuttack and 2 in Jaipur
Department of Science and Technology (DST),  the Office of the Principal Scientific Advisor (PSA) to the Government of Indiaand NITI AayogDevelopment and Setting up of Low-cost AC Charging (LAC) stationsThe Government of India, along with DST, PSA and NITI Aayog have developed a low-cost AC charging along with Indian standards for EV charging. The Bureau of Indian Standards(BIS) will publish the standards by July 2021.According to the government, the Low-Cost AC Charge points will cost around INR 3,500 and will be operable by smartphones. The AC charger point allows up to 3 kW of power to be drawn, charging electric scooters and auto-rickshaws.The user’s smartphone will communicate with the Low-cost AC charger via low-power Bluetooth, which links up to a back-end where transaction payment and analytics are enabled. The user’s smartphone can be used for multiple accounts and payment options. 

Source: Industry news articles, JMK Research

Investments

Date

Company name

Company type

Deal type

Investor(s)

Deal value

(in US$ Mn)

Details

May-21

Magenta EV Solutions

EV Charging solutions

Equity

Dr. Kiran Patel

15

Magenta EV announces $15 million investment from Kiran C Patel 

May-21

Altigreen EV

EV technology and solutions

Equity

House of Anita Dongre

Undisclosed

Altigreen gets investment from House of Anita Dongre for EV solutions development

May-21

Cellestial E-mobility

EV Tractor manufacturer

Equity

Ashik Khan, founder UpCapital Investments

0.5

EV startup Cellestial raises $0.5 million in pre-series A fundraise

Source: Industry news articles, JMK Research

JVs and Partnerships

Date

Companies involved

Purpose of Partnership

Details

May-21

MG Motors India and Attero

Recycling and reuse of Li-ion batteries

MG Motor partners with Attero to recycle electric vehicle batteries

Source: Industry news articles, JMK Research

The total value of li-ion accumulators (or energy storage devices) imported by India in March 2021 amounts to US$ 140 million, signifying a 111% y-o-y and 19% 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

Italian Automaker Lamborghini announces plans for a fully electric car by 2030

Italian supercar maker Lamborghini has announced that it will launch a fully-electric car in the second half of the decade. Lamborghini laid out “a roadmap to the decarbonisation of future Lamborghini models and of the Sant’Agata Bolognese site,” its factory headquarters. The next 10 years sees the company’s transition to hybrid models before it launches a fully-electric car.

Harley Davidson launches electric motorcycle sub-brand: ‘LiveWire’

Harley-Davidson Inc launched an all-electric motorcycle brand “LiveWire,” the latest effort by the company to ramp up bets on the rapidly growing electric-vehicle market. Named after Harley’s first electric motorbike, which was unveiled in 2019, the “LiveWire” division is slated to launch its first branded motorcycle in July 2021. 

Ola launches EV Cabs service in London, UK

Ola has announced that it will launch a new category on it app through which customers can book an electric vehicle for their rides. The new category has been launched in London, a ‘global first’ for the India-based ride hailing company. The new category will be called Ola EV. The company has said that its London customers will be able to use it starting in May 2021. According to the company, the Ola EV category will cost riders the same as a comfort category.

Ford expects 40% of global sales by 2030

Ford is doubling down on electric vehicle development, announcing that it will invest $30 billion in electrification efforts by 2025. The automaker also pledged that 40% of its vehicles sold by 2030 will be electric. Ford had previously announced plans to spend $22 billion on electrification efforts and had recently revealed plans to build two new battery factories in a joint venture with Korean battery maker, SK innovation.

US EV Manufacturer Triton EV to deliver 2000 semi-trucks to Talwar Auto Garages in India

Talwar Auto Garages PVT Ltd, one of the largest automotive distributors in South India, has signed a purchase order for 2,000 Triton EV semi-trucks. The trucks are worth USD 300 million (Rs 21,76,96,50,000).

Click here to view all published Monthly EV reports.

About Us

JMK Research & Analytics is a boutique consultancy firm providing research and advisory services to Indian and International clients across solar, wind and e-mobility segment.

Based on our in-depth sector experience, strong industry network, we  provide key insights and detailed industry information which helps our clients develop successful business models and market strategies.

Contact Us

JMK Research & Analytics

27/ 2C, Palam Vihar, Gurugram, Haryana- 122017

Phone: +91-7428306655
Email: contact@jmkresearch.com

Subscription

Our newsletter covers-

  1. Policy and regulatory updates
  2. Project and tender updates
  3. Financing updates
  4. Price trends

For subscription please fill in the form here

Follow Us