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Category: Auto & Electric Mobility

  • Tata Motors Zooms Past Maruti To Become India’s Highest Valued Auto Company, MCap Now Close To ₹4 Lakh Cr

    Tata Motors Zooms Past Maruti To Become India’s Highest Valued Auto Company, MCap Now Close To ₹4 Lakh Cr

    Mahindra BE 05 electric SUV

    Tata Motors‘ share price was skyrocketing on Thursday morning, going up over 5% to hit a new all-time high of ₹1,081.70

    What Happened: The massive surge today comes as Nomura upgraded the automobile maker to “buy” from “neutral”, raising its target price to ₹1,294 from ₹1,141. The surge also pushed the Tata Group company’s market capitalisation close to the ₹4 lakh crore mark. At the time of writing, Tata Motors’ market cap stands at ₹3.97 lakh crore.

    Tata Motors as most valuable auto company

    With this, Tata Motors is once again India’s biggest automobile company in terms of market cap taking over the title from Maruti Suzuki. Maruti Suzuki’s share price is in the red today and the market cap currently hovers around ₹3.92 lakh crore. The company had taken over Suzuki’s market cap for a brief period earlier this year.

    Shares of the company have seen a strong rally in the past year. Just in the last 30 days, the stock has gone up over 13%.

    The auto giant is scheduled to report its earnings for the first quarter on August 1. Analysts have mixed views on Tata Motors’ upcoming results.

    Analysta Say on Tata Motors

    Motilal Oswal, in its preview note on the auto sector, anticipates that Tata Motors’ performance will lag behind its peers. The brokerage expects the company to report revenue of around ₹1.03 lakh crore and a profit after tax of around ₹4,000 crore. Motilal Oswal has a “neutral” rating on the stock with a target price of ₹960.

    Conversely, Kotak Securities has a more optimistic outlook, projecting revenue of ₹1.18 lakh crore and a net profit of ₹6,018 crore for Tata Motors. Kotak Securities maintains an “add” rating on the stock with a target price of ₹1,100.

    Price Action: Tata Motors’ share price was up 4.93% to trade at ₹1,079.80 in early trade on Thursday.

  • Google selects ElectricPe as partner to bring EV charging stations to Google Maps

    Hyderabad: In its ongoing mission to build customised solutions for India’s unique needs, Google has partnered with ElectricPe, India’s most trusted EV super-app, to enhance the electric vehicle (EV) charging experience. This collaboration allows Google Maps users across India to view the availability and status of charging points in real-time, enabling better journey planning and reducing range anxiety. This feature, which will be live on both Google Maps and Google Search, is a world-first for two-wheelers and will be expanded to other regions, a company media release says.

    Since its inception, ElectricPe has been dedicated to simplifying EV ownership. The Super App developed by ElectricPe provides a comprehensive platform for users to identify, access, and pay for EV charging points (across all charger types), making e-mobility more accessible. In December 2023, the company expanded its services to include mobility centres – both online on the ElectricPe App and website and physical stores. These centres act as multi-brand outlets and help customers to choose from a variety of E-2Wheeler options. They also offer EV servicing, financing and affordable subscription plans.

    India is projected to have over 5 million public charging stations by 2030. ElectricPe already operates 25,000 public chargers in Bengaluru, making it the largest network in the city. The super app has experienced a 30 per cent month-on-month growth rate and has facilitated over 28 million green kilometers for its regular users.

    Commenting on the collaboration, Avinash Sharma co-founder of ElectricPe said, “This is one of the most significant and exciting milestones in India’s EV space. A partnership with Google aligns seamlessly with ElectricPe’s core values which is to make EV ownership easy and accessible. EV customers are seeking a single trusted platform that will help them not only discover charging stations but also seamlessly transact with them. Having visibility of these stations on Google Maps will only speed-up adoption in an already fast-growing space.”

  • JioThings, MediaTek join to revolutionise 2-wheelers with 4G smart Android cluster

    .Hyderabad: MediaTek, the world’s leading fabless semiconductor company, powering over 2 billion connected devices a year, and JioThings Limited, subsidiary of Jio Platforms Limited and the only provider of end-to-end cutting-edge IoT solutions, have announced the launch of “Made in India” Smart Digital Cluster and Smart Module specially tailored for the 2-wheeler (2W) market. This collaboration brings together MediaTek’s advanced chipset technology and Jio Things’ innovative digital solutions to strengthen its presence in the 2-wheeler space and revolutionise the electric vehicle (EV) landscape, a media release states.

    Kiran Thomas, President and CEO, Jio Platforms Limited, commented on the partnership “Jio Things is pleased to collaborate with MediaTek to revolutionise the Mobility industry with our 4G Smart Android Digital Cluster, App Suite and Smart Module solutions. This collaboration firms up our commitment towards India-led global innovation and enhancing customer experiences in IoT technology, integrating MediaTek’s advanced chipset with our cutting-edge digital solutions to set new benchmarks offering seamless performance and unparalleled customer experience tailored for the future of mobility.”

    This long-term strategic collaboration will deliver Android based smart digital cluster solution in India and the global market. The JioThings smart digital cluster is based on AvniOS, an AOSP based operating system that provides OEMs a unique and competitive edge supported by strong MediaTek chipset level performance and support for critical firmware/base OS release. Smart Digital Cluster & Operating System enables real-time data analytics, customizable interfaces, voice recognition for effortless control, and a comprehensive Cluster OS for seamless integration with Vehicle controllers, IoT-enabled charging infrastructure and Smart Battery Management System optimized for EVs. Through this offering, customers will now have access to “Jio Automotive App Suite” which includes services like Jio Voice Assistant, JioSaavn, JioPages, JioXploR and various other unique service bundles thus delivering a new age and holistic experience to the 2-wheeler users.

    Smart Digital Clusters have become integral part of vehicle experiences and draws converges from stationary to mobility use-cases. The collaboration is aimed at providing seamless digital experiences to the 2-wheeler users on one end, at the same time reducing the time to market for OEMs significantly in building and integrating solutions. With MediaTek’s strong legacy in building cutting edge chipsets and Jio’s history in product innovation, this solution provides a turnkey offering to the market not just for India but also globally.

    “Our collaboration with Jio Things on the 2-wheeler Smart Digital Cluster powered by MediaTek strengthens our commitment to innovation in both the IoT and automotive sectors. This cluster aligns with our vision for the future of 2-wheeler smart dashboards. By providing OEMs with a competitive edge in the fast-growing 2-wheeler EV market, this solution offers early access to MediaTek’s latest technologies and key software features at the OS level.” said Jerry Yu, Corporate Senior Vice President and General Manager of the Intelligent Devices Business Group, MediaTek.

    “MediaTek’s collaboration with JioThings on the designed and manufactured in India Smart digital cluster and smart module for the 2-wheeler market is a testament to our commitment to innovation and excellence in India. This solution leverages MediaTek’s advanced chipset technology and JioThings’ visionary digital solutions to deliver next-generation smart clusters that meet the ever-changing needs of the global 2-wheeler market. Together, we are poised to transform the rider experience and drive the next wave of mobility innovation on a global scale.” said CK Wang, General Manager, IoT business unit, MediaTek.

    With the Indian 2W EV market projected to reach 10,000 Crores by end of 2025 with more than 3 million vehicles on road and growing at a CAGR of 50 per cent over next 5 years, this collaboration between Jio Things and MediaTek will cater to the rising demand of electronic vehicles in the automotive industry. It marks a significant milestone for both MediaTek and Jio Things, to build smart digital cluster and strengthening their presence in the 2-wheeler space in India.

  • Nissan X-Trail Features Revealed, Bookings to Commence from July 26

    Nissan is set to launch the X-Trail in the Indian market, with the release planned for August 2024. Bookings will open on July 26, 2024, with a down payment of Rs 1 lakh.

    The X-Trail comes in a single 7-seater variant and three colour options, namely Pearl White, Diamond Black, and Champagne Silver.

    It will feature the world’s first production Variable Compression Turbo engine.

    The X-Trail will be imported as a completely built unit (CBU) with 150 units initially available in India.

    The SUV has a strong global presence, with over 7.8 million units sold in 150 markets.

    Key Specifications and Features:

    Design: Bold front, V-Motion grille, split headlamps, 20-inch wheels, and panoramic sunroof.

    Dimensions: 4,680 mm length, 1,860 mm width, 1,725 mm height.

    Interiors: Premium leather, 12.3-inch digital display, wireless charging, drive mode selector, and flexible 7-seater layout.

    Safety: 7 airbags, stability control, traction control, around-view monitor, moving object detection, ABS with EBD, parking sensors, and disc brakes.

    Engine: 1.5-liter petrol engine featuring Variable Compression technology, producing 163 horsepower and 300 Nm of torque, paired with a 3rd-generation X-TRONIC CVT transmission and a 12V mild hybrid system.

  • Daimler India appoints Andamuthu Ponnusamy Head of its bus business

    Hyderabad: Daimler India Commercial Vehicles (DICV), a wholly owned subsidiary of Daimler Truck AG (“Daimler Truck”), announced the appointment of Andamuthu Ponnusamy as Head of Bus Business, effective July 1, 2024. Andamuthu began his journey with DICV in 2011 and brings over 35 years of experience in the automotive (passenger and commercial vehicle) industry, specialising in operations management., according to a company media release.

    Satyakam Arya, Managing Director & CEO of Daimler India Commercial Vehicles, stated, “The bus industry in India is witnessing healthy growth and is poised to become a vital part of the growing CV industry volume in the medium term. Bus is an important part of our business and Andamuthu is the most able person in our organization to take our bus business to the next level. I am confident that he will drive the development and execution of strategic initiatives, focusing on product innovation and operational excellence in our bus business.”

    He was instrumental in setting up DICV’s truck assembly operations right from the start given his expertise in leading diversified manufacturing teams and his solid comprehension of operational excellence and cost management pivotal to the company’s growth over the last decade. In 2016, he became Head of Cab Production and Truck Operating Systems, where he significantly improved operational excellence in DICV truck operations. Notably, he spearheaded the end-to-end operational planning and execution of the BharatBenz BS6 truck range at the time of the implementation of the regulation in India.

    In 2021, Andamuthu was appointed as Head of Bus Production, a role in addition to his role as Head of Truck Cab Production, when he successfully integrated the bus business with truck operations and spearheaded a capacity ramp-up for fully built buses, leading to a significant increase in cumulative production. His continuous efforts towards cost savings in bus production, through strategic initiatives and fostering collaboration with procurement, manufacturing and engineering teams, have been substantial.

    Commenting on his appointment, Andamuthu said, “I am honored to be chosen to head the bus business at DICV. With our global DNA and the strong foundation that we have built here at DICV over the past decade, I am confident that we will achieve significant growth and set new industry benchmarks in the bus industry. As we navigate this exciting growth period, my priority will be to sharpen our competitive edge, contribute to the sustainable development of BharatBenz buses, and deliver value to our customers and stakeholders.”

    Over the last decade, DICV has set high standards for safety and efficiency in the commercial vehicle industry. Recognised for industry-leading total cost of ownership, BharatBenz buses have become synonymous with reliability, comfort, and safety. In 2023, the company rolled out over 1,000 fully-built buses in a single year, showing our commitment to excellence and the ability to meet the growing demands of the market. The BharatBenz brand focus remains on delivering top-quality products that ensure a superior travel experience, while contributing to the sustainable development of the transportation sector.

  • Servotech gets INR 20 crores order for DC Fast EV chargers • EVreporter

    NSE-listed EV Charger manufacturer, Servotech Power Systems Ltd. has received an additional order for approximately 400 units of DC Fast EV Chargers from Bharat Petroleum Corporation Limited (BPCL) and other EV charger OEMs. Valued at around INR 20 Crores, this project includes the manufacturing, supplying, installing, and deploying of these chargers nationwide, particularly at BPCL petrol stations under the BPCL E-drive Project.

    As per the company statement, this new order follows a previous contract for 1800 DC Fast EV chargers from BPCL and other OEMs, valued at ₹120 Crores, which has been increased by 20% due to the company’s timely deliveries and consistent performance. Servotech has completed 35% of the dispatches on schedule and met all planned requirements. BPCL has extended the additional order in recognition of the company’s performance.

    Sarika Bhatia, Director, Servotech Power Systems Ltd. commented, Servotech feels extremely elated to have worked for BPCL and is committed to living up to the trust BPCL has placed in us. Time and again we have showcased our manufacturing capabilities with our production team relentlessly working keeping a strong focus on delivering exceptional products in-house. We will continue to maintain the highest standards of service and operational efficiency, setting new benchmarks in the industry. Our eco-conscious and top-notch EV chargers are catering to the growing demand for sustainable EV charging solutions across India, increasing the accessibility, affordability and availability of EV charging facilities to a wider demographic of EV users.

    Also read: Servotech establishes subsidiary for EV charger components | To invest INR 30 crores initially

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  • BMW Unveils Premium CE 04 Electric Scooter in India; Check Pricing

    BMW has forayed into the Indian electric two-wheeler market with the BMW CE 04, a high-end electric scooter.

    This scooter, arriving as a Completely Built-up Unit (CBU), features a futuristic design with large, smooth surfaces and sharp edges. It has practical elements like a side-loading helmet compartment and built-in charging port.

    Powered by a 42 hp liquid-cooled electric motor, the CE 04 accelerates from 0 to 50 km/h in 2.6 seconds, with a top speed of 120 km/h and a range of 130 km. Advanced features include a 10.25-inch colour TFT display, Bluetooth connectivity, keyless ride, a reversing aid, Automatic Stability Control (ASC), and three riding modes (ECO, Rain, and Road).

    Priced at Rs 14,90,000 (ex-showroom), the BMW CE 04 will be available in major Indian cities starting September 2024.

    Key points:

    Motor: Liquid-cooled, 42 hp.

    Acceleration: 0 to 50 km/h in 2.6 seconds.

    Top Speed: 120 km/h.

    Battery Range: 130 km.

    Price: Rs 14,90,000 (ex-showroom).

  • Hyundai and CHARGE ZONE partner to install fast EV chargers in India • EVreporter

    Hyundai Motor India Limited (HMIL) has signed an MoU with CHARGE ZONE to install DC 60 kW fast chargers at 100 HMIL dealerships in India. This partnership aligns with the Government of India’s EV adoption strategies and aims to expand public EV charging infrastructure. The MoU was signed by Mr. Jae Wan Ryu of HMIL and Mr. Kartikey Hariyani of CHARGE ZONE at HMIL’s headquarters in Gurugram, Haryana. The new charging stations will be accessible to all EV users for intercity and intracity travel.

    Commenting on the next phase of HMIL’s EV roadmap, Mr. Jae Wan Ryu, Function Head – Corporate Planning, HMIL, said, “As India aims for greater adoption of electric mobility, it is equally important to bolster the EV charging infrastructure to counter range-anxiety and build customer preference towards adoption of electric mobility. By engaging in a strategic partnership with CHARGE ZONE, we are moving towards strengthening HMIL’s EV charging network, with 100 Hyundai dealerships now to be equipped with DC 60 kW fast chargers. All EV users (Hyundai & Non-Hyundai) will benefit from the augmented network of DC fast charging stations, accessible through the ‘myHyundai’ app or through the ‘CHARGE ZONE’ app. Such strategic alliances are crucial for accelerating the adoption of electric mobility solutions by customers and achieving India’s carbon neutrality goals.”

    Mr. Kartikey Hariyani, Founder & CEO – CHARGE ZONE, highlighted the strategic partnership, emphasizing, “Over the past five years, CHARGE ZONE has developed a renewable energy-powered EV charging network for electric cars and electric buses in India. Our collaboration with Hyundai Motor India Limited aims to enhance infrastructure for 4-Wheeler Electric Vehicles (BEVs), ensuring easy access and dynamic availability, providing a reliable and seamless charging experience.”

    Currently, HMIL has 19 dealerships equipped with DC 60 kW public EV charging stations. Together with CHARGE ZONE, HMIL aims to expand to an additional 100 charging stations located at its dealerships, along with a 24×7 customer support system.

    HMIL, under its EV roadmap, has invested to build an EV charging network across the nation with DC 180 kW and DC 60 kW chargers. Besides its dealership network, HMIL operates 15 more fast charging stations spread across key cities and highways in nine Indian states.

    HMIL has also developed a Charging Management System (CMS) platform – “EV Charge” hosted within the “myHyundai” mobile app, enabling EV customers across all OEM brands to access EV charging services. The CMS enables EV users to locate charging points of various CPO chargers, book charging slots, monitor remotely, and make digital payments. CHARGE ZONE’s network of chargers is also available in the “EV Charge” section on the “myHyundai” app, along with HMIL’s own chargers and those from third-party charging point operators.

    Also read: Hyundai and Kia partner with Exide for EV battery localization in India

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  • Strongest incentives from the state should be for EVs: BMW

    New Delhi: German luxury carmaker BMW on Wednesday said incentives are necessary to support the growth of the electric vehicle segment. The company, which on Wednesday introduced the all-electric MINI Countryman and electric scooter CE04 in the country, said the market here is still evolving and efforts should continue to smoothen and accelerate this transition. In a press conference here, BMW Group Senior Vice President, Region Asia Pacific, Eastern Europe, Middle East and Africa Jean-Philippe Parain stated that the “strongest incentives from the state should be for EVs”. Incentives allow to bring an electric model to a price point where transition can happen towards an electric vehicle, he noted. Parain noted that in some countries, where customers drive longer distances, plug-in hybrid vehicles (PHEVs) can be a bridge. “But if I were to speak for India, I would focus on the full transition to full electric vehicles”, he added.

    In India the total tax incidence on hybrid vehicles in the country is 43 per cent, which is inclusive of GST, while battery electric vehicles attract a tax of about 5 per cent. Parain stated that there is potential for EVs in India and the company is looking to drive in more products into the country. He noted that besides battery electric vehicles, the automaker is also investing in internal combustion engine models, plug-in hybrids and also thinking about hydrogen vehicles. The company plans to remain flexible when it comes to technologies, Parain stated. Globally, he said that BMW is among the top sellers of EVs along with Tesla and BYD. He noted that the company’s sales were impacted in China. “India is an exception and there is a need to sustain this growth going forward,” Parain stated.

    BMW Group India President and Chief Executive Officer Vikram Pawah stated that EVs were suitable for India. Penetration of electric vehicles in India is encouraging and once products are available across all price points, the segment will grow very fast, he noted. Pahwa also noted that the automaker, besides introducing new models, is also investing in establishing charging infrastructure to aid the growth of the segment. BMW on Wednesday introduced the all-new 5 Series Long Wheelbase in the country with price starting at Rs 72.9 lakh. The company also introduced the new Mini Cooper S and the new all-electric MINI Countryman priced at Rs 44.9 lakh and Rs 54.9 lakh respectively. BMW Motorrad introduced premium electric scooter CE 04 at Rs 14.9 lakh.

  • Kia India adds EV6 to its ‘Kia Lease’ program for flexible mobility solutions • EVreporter

    Kia India has introduced a lease program for the EV6. The lease rental is INR 1.29 lakhs per month and includes insurance, maintenance, pick-up and drop-off services, scheduled and unscheduled services, and 24×7 roadside assistance.

    The EV6 lease program is available to:

    • Doctors registered with IMA or state associations, and heads of registered medical institutions, hospitals, or clinics.
    • Chartered Accountants registered with ICAI and heads of CA firms.
    • Other self-employed professionals.
    • Select corporates.

    Kia India, in partnership with ORIX Auto Infrastructure Services Limited, launched the Kia Lease program to offer a new ownership experience. The program caters to those with extended mobility needs, offering lease terms from 24 to 60 months with various mileage options. Besides the EV6, the program offers minimum monthly rental plans for the Sonet, Seltos, and Carens at INR 17,999, 23,999, and 24,999 respectively.

    The EV6 offers a range of up to 708 km and supports fast charging from 0 to 80% in 18 minutes using a 350kW charger. It can accelerate from 0 to 100 km/h in 5.2 seconds and includes safety features such as eight airbags, ADAS level 2 suite, ESC, blind spot monitoring, rear cross-traffic alert, and a 360-degree camera system.

    Mr. Myung-Sik Sohn, Chief Sales Officer, Kia India, said, “Within 2 months of its launch, Kia Lease program has gained significant traction in Metro and Tier I cities, and the addition of the EV6 underscores our commitment to meeting customer demands and provide them the best of technology along with sustainable mobility solutions. The positive response reaffirms our confidence in the future of the Kia Lease program as we strive to make our vehicles more accessible to a wider range of customers”.

    In April 2017, Kia India signed an MOU with the Andhra Pradesh government to build a manufacturing facility in Anantapur District. Mass production began in August 2019 with a capacity of 300,000 units annually. Kia India has dispatched over 1.2 million vehicles from its Anantapur plant, including over 1 million domestic sales and 250,000 exports, said the company statement. The brand has a network of 588 touchpoints across 265 cities to date.

    Also read: Hyundai and Kia partner with Exide for EV battery localization in India

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