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Category: Auto & Electric Mobility

  • JSW MG Motor India Partners with Ecofy to boost faster adoption of EVs

    Hyderabad: JSW MG Motor India announced an MoU with Ecofy, a leading NBFC backed by Eversource Capital, committed to financing India’s green transition, along with its technology & leasing arm Autovert. This collaboration aims to unlock new financing options for JSW MG’s electric vehicles, making them more accessible to customers across India including semi-urban and rural areas.

    Over the next three years, the partnership with Ecofy will provide innovative financing and leasing solutions (powered by Autovert) for up to 10,000 JSW MG EVs. This will encompass attractive loan options and leasing arrangements across retail customers and B2B operators for the existing and forthcoming electric vehicles of JSW MG Motor India.

    Recognising the evolving needs of modern consumers, Ecofy and JSW MG Motor India along with Autovert have co-created innovative products and structures, including easy subscription plans. These innovative offerings are expected to drive rapid adoption of electric passenger vehicles by providing customers with unparalleled flexibility, convenience, and affordability.

    Speaking on the partnership, Rajashree Nambiar, Co-founder, MD & CEO of Ecofy said, “We are excited to partner with JSW MG Motor India, a visionary company that shares our commitment to sustainable mobility. By combining our expertise in finance and JSW MG’s cutting-edge electric vehicle technology, we aim to make EVs accessible to a wider audience, empowering individuals and businesses to embrace a greener future without compromising on convenience or affordability.”

    According to Gaurav Gupta, Chief Growth Officer, JSW MG Motor India, “This partnership reflects JSW MG India’s commitment to offer innovative EV ownership solutions to augment the adoption of electric vehicles (EVs) in India. By offering innovative financing solutions in collaboration with industry specialists, we are making EV ownership more accessible and affordable to a broader audience. We remain committed to promoting sustainable mobility and supporting the government’s vision of a cleaner environment and a robust electric mobility ecosystem.”

    Kartik Gupta, Chief Growth Officer, Autovert added, “India is at a cusp of a large green revolution, demand is picking up however regular financing methods are not enough. There is a growing need for alternate financing methods like subscriptions, pay-per-use which is expected to act as a catalyst for this growing demand.”

    Under the partnership, through its extensive dealership network, JSW MG Motor India will provide access points for customers seeking to purchase EVs with attractive financing options. The partnership’s competitive edge also lies in its innovative products, seamless digital approval processes, and hassle-free product ownership experience for customers. Ecofy’s financial solutions, coupled with JSW MG’s advanced electric vehicles, will provide consumers with a seamless and convenient transition to sustainable transportation.

  • Completes 1 lakh trips in a month

    Hyderabad: Routematic, a leader in employee fleet management and transport automation solutions, announced a significant milestone exceeding 100,000 corporate trips fulfilled in a single month. This achievement underscores Routematic’s unwavering commitment to providing efficient, reliable, safe, convenient, eco-friendly shared mobility solutions to corporates/businesses across India, a media release says.

    Routematic specialises in end-to-end urban mobility solutions, leveraging a modern fleet of vehicles to accommodate diverse employee shift requirements, boasting a presence in over 19 cities nationwide with its technology, and corporate fleet operations in Bengaluru, Pune, Hyderabad, Delhi-NCR and other major cities. With a clientele of 175+ businesses and serving more than 300,000 monthly users, Routematic continues to set industry standards for innovation and excellence in employee transportation and serves clients from diverse industries ranging from Information Technology, Healthtech, Banking and Insurance. Key clients include Unisys, Infosys, Ericsson, HCL, Amdocs amongst others.

    Speaking on the latest milestone achievement of 1 lakh monthly trips, Sriram Kannan, Founder & CEO of Routematic, said: “At Routematic, our vision is to ensure safe, reliable, comfortable and affordable daily commute options for every member of the global workforce while reducing the global carbon footprint. Exceeding 100,000 trips in a single month not only highlights our operational efficiency but also stands as a testament to the unwavering trust of our clients and investors, the dedication of our entire team including our 3000+ driver community, and our relentless pursuit of innovation. We aspire to further build on this momentum and leverage the immense potential of technology in our mission to redefine employee transportation in India.”

    Routematic’s comprehensive solutions portfolio offers a holistic range of offerings for Corporate Mobility Technology, Transport as a Service offering that covers end-to-end fulfilment using Routematic fleet as well as managing transport operations. With a strong focus on sustainability and innovation, Routematic is also committed to contributing to a greener future. The company’s initiatives to integrate electric vehicles and promote eco-friendly practices in fleet management are pivotal steps towards reducing carbon footprints and fostering sustainable urban mobility.

  • Exicom partners with Hubject to bring Plug&Charge to India • EVreporter

    Hubject, an EV interoperability company, has formed a strategic partnership with Exicom, an EV charger manufacturer in India. The partnership aims to use Hubject’s interoperability technology to enhance the charging experience for EV drivers in India. This includes the use of Hubject’s intercharge platform, which will facilitate the process for EV drivers to locate and use charge points.

    Exicom and Hubject will collaborate on Hubject’s Plug&Charge platform to:

    • Implement global technology standards
    • Support local charge point operators (CPOs) using ISO15118 standards
    • Enable automated charging capabilities
    • Develop the first Plug&Charge standard in India

    This collaboration means EV drivers in India will be able to use compatible charge points and charge their vehicles automatically without the need for an app or RFID card.

    Christian Hahn, Hubject CEO, said: “The EV market in India is seeing explosive growth. Last year sales nearly doubled and this year they are expected to rise by 66%. This strategic partnership with Exicom and the introduction of Hubject’s intercharge platform aims to support this massive growth by making the charging experience easier and more reliable for EV drivers. This is an important step in encouraging more drivers in India to make the switch from cars using fossil fuel to EVs.” Mr Hahn added: “This partnership is good news for Hubject, Exicom and EV drivers in India, and it’s also a big step forward in our strategic aim of having Plug&Charge everywhere.”

    Anant Nahata, CEO of Exicom, spoke on the scope of the collaboration: “Addressing the challenges of reliability and seamless EV charging experience in the Indian market is crucial. Our partnership with Hubject aims to provide a frictionless charging experience for EV users. The establishment of a central interoperability hub will further streamline payment settlements and reduce dependence on multiple wallets, ensuring a smoother experience for EV users nationwide.”

    Hubject’s interoperability technology simplifies the charging process by allowing EV drivers to locate, access, and pay for charging services through their preferred interface, regardless of the operator. This eliminates the need for multiple memberships and payments, making EV charging as straightforward as refueling a traditional car.

    Also read: Hero Electric to partner with Exicom for BMS solutions

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  • China targets Europe’s farmers, after EU tariffs on electric cars

    Beijing: The Chinese government is taking aim at European farmers instead of German automakers by launching an investigation into European Union pork imports, just days after the EU said it plans to impose provisional tariffs on China-made electric

    vehicles. The Commerce Ministry didn’t mention the EV tariffs when it announced Monday that it is opening an anti-dumping investigation into pork from Europe, but the move is widely seen as a response to the EU move on electric cars. It also gives China a bargaining chip in any trade negotiations. China could have slapped a 25 per cent duty on imports of gasoline-powered vehicles with large engines in the name of combating climate change, a step that would have hit Mercedes and BMW hard. In choosing not to do so, at least for now, the government may be acknowledging the public opposition of the German auto industry to the EU tariffs, as well as its sizeable production in China.

    The Chinese market is a major one for German automakers, and the head of the country’s auto association, the VDA, described the June 12 EU tariff announcement as a further step away from global cooperation. “The risk of a global trade conflict is rising further as a result of this measure,” Hildegard Müller said in a statement. The investigation of EU pork imports will cover various products including fresh and frozen pork meat, intestines and other internal organs.

  • Chinese EV maker BYD set to enter South Korean market in low-cost segment

    Seoul, June 18: The expected entry of China’s BYD Auto into the South Korean consumer electric vehicle (EV) market this year will likely intensify competition within the low-cost segment of the market, which globally has seen a stagnation in growth as of late due to the so-called EV adoption chasm, according to industry watchers on Tuesday.

    The Chinese EV maker has applied for emissions and noise certification for its midsized EV sedan Seal with the National Institute of Environmental Research under the South Korean environment ministry on June 5, marking the beginning of BYD’s domestic release procedure.

    The process, which checks factors, such as the driving range on a single charge, is known to take around two to three months. Performance evaluations linked to a review for EV subsidies are conducted separately by the Korea Environment Corp, reports Yonhap news agency.

    In terms of size and performance, BYD’s Seal model, whose entry price trim is set at 179,800 yuan ($24,730), is comparable to Tesla’s Model 3 and Hyundai Motor’s Ioniq 6.

    Market watchers expect the model to become eligible for EV subsidies when released. Some, however, note the use of lithium iron phosphate (LFP) batteries in the model could work against the model due to the low recyclable value of LFP batteries.

    Other more affordable BYD models, including the Dolphin hatchback and the Atto 3 compact crossover, are also reportedly being considered for release in the country.

    BYD has already applied for trademarks for six models in the domestic market, including those for the Seal, Dolphin and Atto models.

    If BYD successfully launches its passenger EV cars in South Korea with competitive pricing, it could impact the domestic electric vehicle market, currently dominated by Hyundai Motor and Kia.

    South Korean automakers have already seen a decrease in the domestic EV market share, dropping 3.5 percentage points to 76.6 percent last year, especially in line with the release of Tesla’s Model Y vehicles produced in China.

    Local automakers, too, are moving to introduce more affordable models with a better value proposition, notably improved battery capacity.

    Hyundai plans to unveil the EV version of its mini SUV Casper at the upcoming Busan International Mobility show later this month. Kia’s EV3, the company’s third and latest EV model after the larger EV6 and EV9 models, is widely expected to become a hit.

  • JSW MG Motor India partners with Tata Capital to enhance channel finance options

    Hyderabad: JSW MG Motor India has signed a partnership contract with Tata Capital, the flagship financial services company of the Tata Group, to bolster channel-financing options for its dealers. The collaboration aims to support JSW MG Motor India dealers with working capital, term loans, demo car loans, leasing solutions and off-balance sheet structured solutions, catering to their growing business needs.

    Leveraging Tata Capital’s expertise in providing need-based financial solutions, JSW MG Motor India aims to facilitate seamless access to financing resources, fostering a conducive environment for dealership expansion and development. Each of the channel financing options offered, carry the benefits of customization, flexible repayment tenure options and competitive interest rates. This collaboration will enhance operational efficiency, promote business sustainability, and foster long-term success for all stakeholders.

    Commenting on the partnership, Satinder Singh Bajwa, Chief Commercial Officer at JSW MG Motor India, said, “We are delighted to partner with Tata Capital to expand our channel financing options. This strategic partnership underscores our commitment to supporting our dealer partners with financial solutions, encouraging them to grow their businesses sustainably.”

    Narendra Kamath, COO, SME Finance from Tata Capital said, “Our strategic partnership with JSW MG Motor India resonates with Tata Capital’s vision of growing through collaboration. Our tailor-made products will cater and enable the distribution network of JSW MG Motor India with the apt resources to leverage emerging prospects seamlessly.”

  • Škoda announces new value proposition; Kushaq, Slavia range starts at ₹ 10.69 lakh

    Hyderabad: Škoda Auto India, in continuation to its initiatives of making the brand more accessible, announced the Kushaq and Slavia with higher value, enabling enhanced accessibility to its line-up of cars that are 5-star rated and fully safe for both adults and children, a company media release says.

    Petr Janeba, Brand Director, Škoda Auto India, said: “We have been in India for nearly a quarter of a century, and our commitment to this market is absolute. We have always been looking at offering more in product and affiliated actions. Since the announcement of our all-new compact SUV planned for 2025, we have maintained that with this new car, we are targeting new markets, younger customers and more accessibility to the brand. While the new compact SUV will open new markets for us, we have achieved some efficiencies in the Kushaq and the Slavia, which has enabled us to enhance the value in our offerings and pass on the benefits to our customers and fans.”

    The variants

    The Kushaq and Slavia – earlier available as Active, Ambition and Style – are now rechristened as Classic, Signature and Prestige. The Kushaq, in addition to these three variants also gets the Onyx on the value end and the Monte Carlo at the premium end of the line-up. The all-new pricing is applicable on all engine and transmission options of the Kushaq and select variants on the Slavia. Both cars are powered by a 1.0 TSI petrol with a six-speed manual and automatic, and a 1.5 TSI petrol with a six-speed manual and seven-speed DSG. Both the Kushaq and Slavia come with six airbags as standard across the range, and have achieved a full 5-stars for adults and children under the Global NCAP tests, reflecting the brand’s uncompromising stand on safety.

    The benefits

    Customers stand to benefit by upto 10% based on choice of model, variants, engines and transmission. The maximum benefit will be on the Kushaq Monte Carlo, which will now be offered at an outstanding price point, while the Slavia entry point will be extremely accessible. These new prices also enables customers and fans to avail additional reductions in registration and insurance further stretching the value proposition for the entire line-up.

    Škoda Auto India recently introduced six airbags as standard across all its variants. The new pricing continues making safety as top priority, and offers premium features like ventilated seats, electric seat adjust, wireless Android Auto and Apple Carplay, a 25.4 cm in-car entertainment interface and a sub-woofer embedded in the boot among other comforts.

    Customised and tailor-made offers

    The new value proposition on Kushaq and Slavia will be offered with complete freedom for customers to select what best suits their preferences. This can be clubbed across three large pillars. The first is the unmatched price leverage that customers can enjoy. The second, will be in the form of after-sales offers, maintenance packages and the overall cost of ownership. And thirdly, are the sales levers and value-added services.

    Customers can select from a choice of exchange & corporate bonus options, special finance & insurance schemes run through the banking partners, extended warranty and a host of service and maintenance packages. In the overall cost of ownership and customer experience, the superior mileage offered on both Kushaq (*upto 19.76 Km/L) and Slavia (**upto 20.32 Km/L), along with transparency, quicker servicing timelines, and the expanding dealer footprint have taken forward Škoda Auto India’s strong focus on customer delight.

    “Škoda Auto India is ramping up the network and personnel to get ready for high volume increase with the upcoming launch of the Compact SUV. Our dealers need to be motivated and profitable, with highly trained and experienced sales consultants. And that’s why we have launched the best-ever value proposition on the Kushaq, all across the country, supported with tailor-made, unique customer offers in line with customers’ needs and preferences,” added Janeba.

    More sustainable

    The company’s 1.0 TSI engine recently got certified as E20 compliant by ARAI (Automotive Research Authority of India) and has already debuted in the new Kushaq Onyx AT with other 1.0 TSI cars to roll out soon. The 1.5 TSI is currently undergoing testing, the results of which will be made available by Q4 2024.

    This certification makes the 1.0 TSI the first ever powerplant in India to receive certification from a governing authority. It is in line with government policy requiring every car in India to be E20 complaint from April 1, 2025. Engines that are E20 compliant run on 20% ethanol and 80% petrol, reducing the amount of fossil fuel consumed, reducing emissions and increasing sustainability.

    The Škoda Peace of Mind

    Škoda Auto India has a fleet that is fully 5-star safe for both adults and children as tested by Global NCAP and Euro NCAP. The company also offers a 4-year/100,000kms standard warranty on Kushaq and Slavia, with an option to extend it to 6-years/150,000kms making it one of the most comprehensive warranty packages in the company’s endeavour to offer a hassle-free ownership and maintenance experience. The all-new pricing continues access to these customer-friendly packages.

  • Why Yamaha is facing uphill battle to revive legendary RX 100?

    Yamaha sees significant demand for a new RX model.

    Recreating the iconic experience of the RX 100 in the current four-stroke era poses a challenge.

    Yamaha enthusiasts have long awaited the revival of the legendary RX 100, but the Japanese motorcycle giant is finding it challenging to resurrect the iconic brand without compromising its original essence. In a recent interview, Yamaha India Chairman Eishin Chihana revealed that the company receives numerous inquiries about the RX 100. However, bringing the revered bike back to life without altering its fundamental characteristics has proven to be a herculean task.

    The RX 100 earned its place in history thanks to its timeless design, lightweight frame, and distinctive throaty exhaust note. While the design and weight can potentially be replicated with advanced engineering, the unique sound of the RX 100 is more difficult to achieve with today’s four-stroke engines. The original RX 100 was powered by a two-stroke engine, which does not meet current emission standards. Moreover, replicating the punchy acceleration and raw power of the RX 100 with a similar engine displacement is almost impossible today, and would likely require a significant increase in displacement.

    Yamaha aims to meet the demand and revive the RX brand. However, the company is keenly aware of the legacy and cult following of the RX 100 and is cautious about maintaining its revered status. The challenge lies in creating a modern RX that retains the sound, feel, and overall experience that made the RX 100 a symbol of Yamaha’s performance and positioning in India. Whether Yamaha fans will see a new RX in a contemporary avatar or continue to search for the rare original models remains uncertain.

  • Bridging the gap in India’s EV growth • EVreporter

    The EV four-wheeler business is growing rapidly, with this growth evident in the numbers. EV sales in India reached 1.67 million units in FY2024, representing a 42% increase year-on-year. Within this, the e-car segment registered the maximum year-on-year growth of 90% despite the limited availability of models in this segment (Source: PV Magazine India). In the future, EV sales in India are expected to grow at a compound annual growth rate (CAGR) of 35%, with annual volumes likely to reach 27.2 million units by 2032 (refer: Business Standard). Nearly 91,000 electric cars were sold in India during the Financial Year 2023-24. According to data released by the Federation of Automobile Dealers Associations (FADA) of India, this compares to 47,551 electric cars sold during the same period in FY2023, marking a remarkable 91.37% year on-year growth (Source: Car and Bike).

    The growth in the electric vehicle (EV) market has not been uniform across all segments. Specifically, while the adoption of EV two-wheelers has surged in urban areas and is rapidly catching up in rural regions, the same cannot be said for EV four-wheelers. Rural consumers, recognizing the benefits of EV technology, are increasingly drawn to two-wheelers, particularly due to the scarcity of petrol and diesel stations outside highways and the prevalence of individual houses which facilitate in-home charging. This trend is accelerating growth in the two-wheeler segment. In contrast, the EV four-wheeler market remains predominantly urban, with significant sales concentrated in Class A and B cities and, to some extent, Class C cities. Rural adoption of EV four-wheelers lags, as consumers in these areas continue to prefer traditional petrol and diesel vehicles.

    Considering the population ratio, a substantial portion of the population resides in rural areas, making the rural market vast and potentially lucrative. However, companies have struggled to penetrate this market effectively. With the growing Agri economy, the overall living standard in villages is improving. However, e-cars have not yet penetrated rural areas, so overall market growth is minuscule.

    Through conversations and analysis, several reasons for this difficulty have emerged.

    1. Road Infrastructure: Urban areas and major highways benefit from superior road infrastructure, with government initiatives focusing on enhancing intercity connectivity. This facilitates the effective utilization of EV four-wheelers, enabling users to reap financial benefits. However, the roads linking talukas and villages, as well as internal infrastructure, remain subpar. Potholes and poorly maintained patches deter customers from embracing EV four-wheelers, which are perceived as delicate due to their advanced technology.

    2. Driving Range: Due to their limited driving range, EVs are not perceived as viable commuting options in rural areas. Residents often travel to cities or district centers for work, sometimes with little notice. Consequently, there is apprehension that EVs may not offer uninterrupted journeys due to their lower ranges. In comparison, petrol or diesel vehicles are deemed more dependable, benefitting from readily available fuel sources.

    3. Overloading: In India, cars serve as versatile multi-utility vehicles, transporting everything from farm materials to heavy household items and often accommodating more passengers than their designated capacity. They are essential for family transportation and are frequently overloaded for various purposes, such as wedding processions and festivals. However, with EVs, overloading significantly impacts the vehicle’s range. This dilemma leaves users questioning whether to prioritize load capacity or preserve range. This unresolved issue poses a significant challenge in the adoption of EVs.

    4. Charging Infrastructure: The growth of on-road charging infrastructure is impressive, yet it currently favours urban connectivity. Charging parks and stations are emerging in urban areas, often situated in restaurant parking lots or fuel stations along major routes. However, the rural market remains overlooked. Once drivers venture off the highway, the scarcity of charging points becomes glaringly apparent, leaving them uneasy until they reach their destination. This lack of charging facilities along rural routes heightens concerns about range and accessibility for EV users.

    5. Power Outage Challenges: India’s rapid growth parallels an increasing demand for power, yet the existing power generation infrastructure struggles to keep up. Shortages persist, necessitating location-specific power outages as a management measure. Rural areas have long endured the brunt of these outages, with little improvement over time. This persistent issue could dissuade customers from embracing EV adoption as uncertainties surrounding reliable access to electricity persist.

    6. Post-Warranty Service or Repairs: This issue looms large as a perceived challenge. In cities, seasoned roadside mechanics are swiftly acquainting themselves with advancing automotive technologies, albeit grappling with the added complexity introduced by new emissions standards. Despite these challenges, urban mechanics are diligently learning and adapting to repair modern vehicles, including those laden with electronics. Similar progress is anticipated for electric vehicle (EV) technology, with mechanics poised to master servicing and repairs at an accelerated pace. However, rural areas present a contrasting scenario, where mechanics often adhere to traditional methods and show less flexibility. Consequently, owners of modern vehicles, including EVs, frequently find themselves compelled to transport their vehicles to urban centres for both within and post-warranty repairs. The reluctance to invest in repairing infrastructure for cutting-edge technology exacerbates this situation. The perceived complexity of EV technology gives potential customers pause for thought before making a purchase decision.

    7. Impact of Accidents on EVs: Customers worldwide remain apprehensive about the aftermath of accidents involving electric vehicles (EVs). Concerns arise regarding the EV’s response to such situations: Will there be a risk of explosion? Is the construction of EV four-wheelers sufficient to absorb impact effectively? These questions persist without regulation or comprehensive data available to provide reassurance—even urban residents, who are increasingly adopting EVs as secondary vehicles, exhibit reservations. Rural communities facing infrastructure challenges harbour even greater scepticism. Unfortunately, definitive answers to these questions remain elusive at present.

    To summarize, despite the swift rise of electric vehicles (EVs), numerous hurdles persist, hampering widespread acceptance. Disparities in road infrastructure and charging accessibility between urban and rural areas, along with concerns over post-warranty service and accident safety, pose significant challenges. Consumer scepticism regarding the practicality and reliability of EVs remains prevalent, especially in rural communities constrained by infrastructure limitations. While urban dwellers increasingly adopt EVs as secondary vehicles, addressing these obstacles necessitates concerted efforts in infrastructure development, regulatory frameworks, and public awareness campaigns to foster trust and facilitate the mainstream adoption of EVs.

    About the Author:

    Abhijit Kulkarni

    Founder – Exponent Business Solutions, Pune

    abhi.kulkarni@exponentsolutions.in

    +91-9028198141

    Also read: How the electric scooter market is different the ICE scooter market

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  • India ICE vs EV sales for top 2W and 3W OEMs in April and May 2024 • EVreporter

    OEM wise Leading 2W Sales for ICE and EV, May 2024

    Source: Vahan Dashboard. Data as per 1360 out of 1503 RTOs across 34 out of 36 state/UTs

    In May 2024, India’s top five motorcycle manufacturers were Hero Motocorp, Honda Motorcycle, TVS Motors, Bajaj Auto, and Suzuki Motorcycle. Hero Motocorp led with 445,762 total sales, of which 2,454 (0.6%) were electric vehicles (EVs). Both Honda Motorcycle and Suzuki Motorcycle did not sell any EVs. TVS Motors sold 263,196 vehicles, including 11,776 EVs (4.5%), while Bajaj Auto sold 175,114 vehicles, with 9,199 EVs (5.3%). Overall, EVs represented a small percentage of total 2W sales, indicating a gradual shift towards electrification in India’s 2W market.

    The overall penetration of EVs in the 2W market in May 2024 was approximately 2.85%.

    Source: Vahan Dashboard. Data as per 1360 out of 1503 RTOs across 34 out of 36 state/UTs

    In April 2024, Hero Motocorp led with 511,467 total sales, of which only 0.2% (946 units) were EVs. Honda Motorcycle and Suzuki Motorcycles sold 393,892 and 77,802 units, respectively, with no EV sales. TVS Motors and Bajaj Auto had modest EV shares, with TVS Motors selling 2.7% (7,655 units) and Bajaj Auto 3.8% (7,517 units) of their total sales as EVs. Royal Enfield and India Yamaha Motor sold 71,719 and 55,900 units, respectively, with no EVs. Ola Electric Technologies and Ather Energy sold EVs exclusively, with 33,957 units and 4,055 units, respectively. This data reflects a significant gap in EV adoption among traditional manufacturers compared to newer, fully electric companies.

    The overall penetration of EVs in the 2W market in April 2024 was approximately 3.4%.

    OEM wise Leading 3W L5 Pax Sales for ICE and EV, May 2024

    Source: Vahan Dashboard. Data as per 1360 out of 1503 RTOs across 34 out of 36 state/UTs

    In May 2024, India’s three-wheeler market demonstrated varied levels of electric vehicle (EV) adoption among the top manufacturers. Bajaj Auto led with 31,414 total sales, of which 7% were EVs. Piaggio Vehicles and Mahindra Last Mile Mobility had significant EV sales, with Piaggio achieving 24.8% and Mahindra an impressive 89.9%. TVS Motors had the lowest EV share at 1%. TI Clean Mobility and Keto Motors exclusively sold EVs. Overall, while ICE vehicles still dominate, there is a noticeable shift towards EVs among some manufacturers.

    The overall penetration of EVs in the Passenger 3W market in May 2024 was approximately 16.49%.

    Source: Vahan Dashboard. Data as per 1360 out of 1503 RTOs across 34 out of 36 state/UTs

    In April 2024, Bajaj Auto led with 26,115 total sales, of which 4.6% (1,195 units) were EVs. Piaggio Vehicles sold 3,695 units, with 14.6% (541 units) being EVs. Mahindra Last Mile Mobility had a high EV adoption rate, with 86.2% (1,780 units) of its 2,066 total sales being EVs. TVS Motors and Atul Auto had lower EV shares, with TVS Motors selling 2.3% (36 units) and Atul Auto 9% (48 units) of their total sales as EVs. TI Clean Mobility and Omega Seiki sold only EVs, with 194 and 69 units respectively. MLR Auto had a minimal EV share, with 2.9% (7 units) of its 241 total sales being EVs. This data highlights the diverse strategies towards EV adoption among the top three-wheeler manufacturers.

    The overall penetration of EVs in the Passenger 3W market in April 2024 was approximately 11.23%.

    OEM wise Leading 3W L5 Goods Sales for ICE and EV, May 2024

    Source: Vahan Dashboard. Data as per 1360 out of 1503 RTOs across 34 out of 36 state/UTs

    In May 2024, the three-wheeler market in India showed varying degrees of electric vehicle (EV) penetration among manufacturers. Bajaj Auto sold 4,112 units, with 3.5% being EVs, while Piaggio Vehicles sold 2,224 units, with 8.5% EVs. Mahindra Last Mile Mobility had a significant shift towards electrification, with 57.9% of its 1,000 units being EVs. Omega Seiki, Euler Motors, and Ravi Metalworks exclusively sold EVs, totaling 254, 244, and 158 units respectively. Capital Auto Industries did not sell any EVs out of its 126 units. MLR Auto Ltd had a small EV share, with 4.2% of its 120 units being electric.

    The overall penetration of EVs in the Cargo 3W market in May 2024 was approximately 19.09%.

    Source: Vahan Dashboard. Data as per 1360 out of 1503 RTOs across 34 out of 36 state/UTs

    In April 2024, Bajaj Auto recorded the highest total sales at 3,816 units, with only 2.2% (85 units) being EVs. Piaggio Vehicles followed with 2,191 total sales, of which 7.2% (158 units) were EVs. Atul Auto sold 954 units, with 12.2% (116 units) being EVs. Mahindra Last Mile Mobility had a significant share of EVs at 59.2% (552 units) of its 933 total sales. Omega Seiki Pvt Ltd, E Royce Motors, and Euler Motors exclusively sold EVs, each with 240, 230, and 165 units, respectively. Capital Auto Industries sold 123 units, but none were EVs. This data underscores the varying strategies towards EV integration among the top players in the market.

    The overall penetration of EVs in the Cargo 3W market in April 2024 was approximately 17.86%.

    For deeper insights into India’s EV sales trends (including Telangana data) – Segment-wise, OEM-wise, city- and state-wise- check out the EVreporter Data Portal here and subscribe.

    Also read: India ICE vs EV sales for top 2W and 3W OEMs in March 2024

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