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Category: Auto & Electric Mobility

  • Piaggio introduces a battery subscription model for its e-3W • EVreporter

    Piaggio Vehicles Pvt Ltd (PVPL), a subsidiary of the Piaggio Group, has announced a “Battery Subscription Model” for its Apé Elektrik electric 3Ws. The program aims to ease e-3W ownership by separating the upfront cost of the vehicle from the battery. Customers can now purchase the Apé Elektrik for INR 2.59 lakhs (ex-showroom) and subscribe to a Piaggio-approved battery pack for a monthly fee leased through the dealership without worrying about battery maintenance, lifespan, or replacement costs.

    Piaggio said it is taking full responsibility for battery health, offering peace of mind for long-term EV ownership.

    Subscription Model Details

    ·       Customers purchase the Apé Elektrik chassis directly from dealerships for INR 2.59 lakhs (ex-showroom Maharashtra).

    ·       The battery is provided to the customer at the dealership for a monthly rent.

    ·       The vehicle chassis and powertrain are registered in the customer’s name, allowing for loans with hypothecation on the chassis and powertrain through NBFCs.

    Subscription Tenure and Benefits

    ·       The battery lease term is 120,000 kilometres or 8 years for cargo vehicles and 150,000 kilometres or 8 years for passenger vehicles.

    ·       After reaching the designated mileage, the monthly rent is reduced to INR 0.

    ·       The subscription includes battery replacements at the same rental amount after the initial lease term.

    Initial Availability and Expansion Plans

    The battery subscription model will be launched in 30 cities:

    Gurgaon Agra Warrangal
    Raipur Mathura Nizamabad
    Nagpur Lucknow Kurnool
    Bangalore Kanpur Anantpur
    Tumkuru Allahabad Vijaywada
    Mysore Delhi Guntur
    Kolar Noida Vizag
    Mumbai Ghaziabad Chennai
    Ahmedabad Greater Noida Hyderabad
    Pune Faridabad  

    The subscription model requires no additional documentation from customers and, if desired, allows them to unsubscribe from the program or sell their vehicle at any time like a regular buy.

    Speaking about the announcement, Mr Diego Graffi, Chairman and MD of Piaggio Vehicles Pvt Ltd, said, “Piaggio India has a long history of prioritizing customer satisfaction through innovative products and solutions. The industry-first ‘Battery Subscription Model’ removes another barrier to EV adoption by addressing battery concerns and offering a cost-effective ownership option. We are confident this model will sustain EV growth in a post-subsidy environment. “

    Adding his views, Mr Amit Sagar, Executive Vice President – CV Domestic Business at Piaggio Vehicles Pvt Ltd, said, “Customer can now own an electric 3W at a downpayment of just INR 30,000 and an EMI of INR 8,000 per month which makes it as easy to own as compared to 3W CNG. Battery Subscription model will bring in a new wave of EV adoption in the industry. Our initial interaction with channel partners and consumer makes us believe that we have a winner. We believe that the model will also continue the EV adoption in a post-subsidy world, ensuring that customers and manufacturers get the best from the massive EV opportunity.”

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  • MG Motor India clocks retail sales of 4,485 units in April

    New Delhi, May 1: Car manufacturer Morris Garages (MG) Motor India on Wednesday announced that it clocked retail sales of 4,485 units in the country in April.

    The company’s electronic vehicle (EV) portfolio contributed 34 per cent of the total units sold in this period.

    “The recently launched MG Hector BLACKSTORM has been receiving a positive response from SUV enthusiasts across the country,” the car manufacturer said.

    Last month, MG Motor announced its network expansion plans in Tier 3 and Tier 4 cities and rural markets across the country.

    The company had said that it is set to establish 100 new touchpoints by the end of the year to enhance accessibility and bring the brand closer to customers.

    Each of these dealerships will offer the latest MG models on display, digital configurators, and aftersales support, ensuring a seamless and immersive experience for customers, according to the company.

    “We are working towards introducing 100 new MG dealerships this year, tailored particularly for rural and Tier 3 and Tier 4 cities,” said Satinder Singh Bajwa, Chief Commercial Officer, MG Motor India.

    The company also mentioned that it aims to attain 100 per cent nationwide coverage and plans to have 520 touchpoints in 270 cities by the end of FY2024.

  • Musk picks Chinese lucky no. for robotaxi launch

    New Delhi: Elon Musk, who just visited China, said on Tuesday that he chose August 8 as the date to launch the robotaxi because 8/8 is a lucky number in that country.

    The shares of Tesla surged following reports that Musk has received approval to deploy the company’s Full Self-Driving (FSD) autonomous software in China. The EV company’s stock went up more than 15 per cent.

    When an X follower posted that Tesla would organise a robotaxi event on August 8, which is a lucky number in China, the tech billionaire agreed.

    “I did partly pick it because 8/8 is a lucky number in China! Also, the birthday of my triplets, who are now 17,” the X owner commented.

    According to reports, gaining approval for FSD and a key data deal with Chinese Internet giant Baidu are two big wins for Musk.

    Earlier this month, the Tesla CEO announced that his electric car company, Tesla, will unveil its robotaxi on August 8. The announcement brought cheers for his millions of followers.

    “Wow, can’t wait to see a Tesla without a steering wheel,” one X user posted.

  • Odysse Electric launches 2 cutting-edge models

    Hyderabad: Odysse Electric, a trailblazer in the electric two-wheeler industry, proudly unveils the launch of two cutting-edge models, the SNAP High-Speed Scooter and the E2 Low-Speed Model. These innovative additions to the Odysse Electric line-up represent a significant stride towards revolutionising India’s electric vehicle sector.

    The SNAP high-speed scooter is designed to provide an exciting riding experience without compromising sustainability. With a peak motor output of 2000 watts and a top speed of 60 km/h, the SNAP provides unparalleled performance and agility. The SNAP, with a range of 105 km on a single charge and a charging time of less than 4 hours, guarantees easy and dependable urban transportation. Its innovative features include a Waterproof IP67 motor, Robust Indian chassis as well as an AIS 156 certified smart battery (LFP) that is fireproof, long-lasting, and simple to maintain. In addition, the SNAP has a CAN-enabled display for exact battery level monitoring and distance-to-empty computation, as well as cruise control for enhanced convenience.

    On the other hand, the E2 Low-Speed Model is engineered for urban commuters seeking reliability and sustainability. With a motor power of 250 watts and a maximum speed of 25 km/h, the E2 prioritizes safety and sustainability. Offering a range of either 70 km and a charging time of just 4 hours, the E2 ensures hassle-free urban commuting with minimal environmental impact.

    Nemin Vora, CEO of Odysse Electric, stated, “At Odysse Electric, we strive to redefine the electric mobility landscape with sustainable and innovative solutions that empower consumers and contribute to a greener future. With the introduction of the SNAP high-speed scooter and the E2 low-speed model, we demonstrate our unwavering commitment to excellence, sustainability, and customer satisfaction. It is our belief that these new offerings will set new standards for electric two-wheelers in India and beyond.”

    Since its establishment in 2020, Odysse Electric has been at the forefront of transforming India’s electric vehicle landscape. Renowned for its eco-friendly and technologically advanced offerings, Odysse Electric continues to receive international recognition for its unwavering dedication to excellence, innovation, and sustainability.

  • PointO raises INR 6.2 Cr seed round led by Equirus InnovateX Fund • EVreporter

    Equirus InnovateX Fund (EIF) leads seed investment round in Lithium Battery Ecosystem startup PointO, marking this as their first investment from the fund. EIF led the round with an investment of INR 5 crores from the total INR 6.2 crores raised in this round.

    PointO aims to build a full-stack lithium battery ecosystem encompassing the manufacturing, financing, and servicing of lithium batteries. The founding team comprises Riki Biswas and Gaurav Jindal, both alumni of IIT-Guwahati and Pratimendra Bagui. Riki is a 2x CleanTech entrepreneur. Gaurav led iPhone manufacturing for eight years at Apple (Cupertino, USA), and Pratimendra led tech development at TCS.

    PointO empowers financial institutions with product assurance and predictability, mitigating default rates and credit risk. With an initial focus on the adoption and financing of lithium batteries for e-rickshaw owners in Tier-II+ cities, the company is targeting the problem of low adoption in this segment due to operational and financial complexities. The company grew 7x in the last 12 months and plans to expand its physical centres to include 10+ cities over the next 12 months, said a statement.

    India witnesses a rapid transition to e-rickshaws for last-mile connectivity, with over 2.4 million e-rickshaws currently operating and replacing traditional rickshaws. The market for e-rickshaws is projected to deliver a staggering 32% Compound Annual Growth Rate (CAGR) between 2021-2032, reaching a value of $27.5 billion. With lithium batteries comprising 60-70% of the total cost of ownership and sustainability concerns driving a shift from lead-acid to lithium batteries, PointO is strategically positioned to capture significant market share and drive industry-wide transformation.

    “Equirus InnovateX Fund is thrilled to partner with PointO in its mission to revolutionise the lithium battery ecosystem,” said Sunder Nookala, Early-Stage VC and Head of Tech & Digital at Equirus. “PointO’s innovative approach and strong execution capabilities align perfectly with EIF’s vision of supporting visionary founders and catalysing innovation. This investment marks a significant milestone for EIF, and we are excited to embark on this journey of driving positive change and sustainable growth.”

    “In the last decade, e-rickshaws have created opportunities for millions by doubling their livelihoods, replacing traditional rickshaws. At Pointo, we strive to replicate this impact with the introduction of lithium-ion batteries. By offering higher mileage and reducing the cost of capital, we aim to potentially triple or quadruple e-rickshaw drivers’ take-home income. We are delighted to partner with Equirus on this journey, leveraging their extensive experience in the fintech sector to drive meaningful change.” said Riki Biswas, Founder and CEO of PointO.

    Also read: PointO enables lead-acid to lithium-ion battery transition for e-rickshaw drivers

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  • Piaggio India launches battery subscription model for Apé Elektrik 3Ws

    Pune: Piaggio Vehicles Pvt Ltd (PVPL), a subsidiary of the Piaggio Group and a prominent Indian manufacturer of small commercial vehicles and electric three-wheelers (3EV), has unveiled a novel “Battery Subscription Model” for its Apé Elektrik electric 3Ws.

    This innovative initiative separates the upfront cost of the vehicle from the battery, making electric 3W ownership more accessible and affordable. Customers can acquire the Apé Elektrik chassis for Rs 2.59 lakhs (ex-showroom) and subscribe to a Piaggio-approved battery pack for a monthly fee leased through the dealership.

    The subscription model aims to alleviate battery anxiety by providing customers with peace of mind regarding battery maintenance, lifespan, and replacement costs. Piaggio India believes this approach can sustain EV growth beyond the subsidy era and promote wider adoption of electric 3Ws, contributing to cleaner transportation and reduced emissions.

    Key features of the subscription Model:

    – Customers purchase the Apé Elektrik chassis directly from dealerships for INR 2.59 lakhs (ex-showroom Maharashtra).

    – The battery is leased to the customer at the dealership for a monthly rent.

    – The vehicle chassis and powertrain are registered in the customer’s name, enabling loans with hypothecation on the chassis and powertrain through NBFCs.

    Subscription Tenure and Benefits:

    – The battery lease term is 120,000 kilometres or 8 years for cargo vehicles and 150,000 kilometres or 8 years for passenger vehicles.

    – After reaching the designated mileage, the monthly rent is reduced to INR 0.

    – The subscription includes battery replacements at the same rental amount after the initial lease term.

    The battery subscription model will be launched in 30 key Indian cities, including Gurgaon, Agra, Warangal, Raipur, Mathura, Nizamabad, Nagpur, Lucknow, Kurnool, Bangalore, Kanpur, Anantpur, Tumkuru, Allahabad, Vijayawada, Mysore, Delhi, Guntur, Kolar, Noida, Vizag, Mumbai, Ghaziabad, Chennai, Ahmedabad, Greater Noida, Hyderabad, Pune, and Faridabad.

    The subscription model requires no additional documentation from customers and allows them to unsubscribe or sell their vehicle at any time, similar to a regular purchase.

    Mr Diego Graffi, Chairman and MD of Piaggio Vehicles Pvt Ltd, stated, “The industry-first ‘Battery Subscription Model’ removes another barrier to EV adoption by addressing battery concerns and offering a cost-effective ownership option. We are confident this model will sustain EV growth in a post-subsidy environment.”

    Mr Amit Sagar, Executive Vice President – CV Domestic Business at Piaggio Vehicles Pvt Ltd, emphasized the affordability of electric 3W ownership under this model, foreseeing a new wave of EV adoption in the industry and continuing EV adoption in a post-subsidy world.

  • CHARGE ZONE Secures $19 M Commitment from British International Investment • EVreporter

    EV charging network CHARGE ZONE has announced that it has secured a $19 million commitment from British International Investment (BII), the UK’s development finance institution (DFI) and impact investor.

    With this new capital injection, CHARGE ZONE aims to expedite the expansion of its high-speed charging network for electric cars, buses, and trucks across key cities and highways in India. This will enable the company to roll out more than 1500 super-charging stations over the next 18 months and reach a portfolio of over 10,000 charging stations by 2027. This forms part of their long-term plan to create a network of one million charging points by 2030. To fund the expansion, CHARGE ZONE has successfully raised a total of $54 million from investors.

    CHARGE ZONE’s expansion strategy will focus on key markets such as Delhi, Ahmedabad, Mumbai, Pune, Hyderabad, Bangalore and Chennai. By deploying open-access hubs for fleet charging, CHARGE ZONE aims to facilitate the transition to electric mobility for commercial fleets operating in urban centers.

    “Our partnership with British International Investment is integral to our mission of driving widespread adoption of electric vehicles in India,” expressed Mr. Kartikey Hariyani, Founder and CEO of CHARGE ZONE. “This strategic investment not only bolsters our capacity for network expansion but also serves as a testament to our shared vision for a sustainable future. With this infusion of capital, we will accelerate our efforts in deploying state-of-the-art charging stations, ensuring that EV drivers across the nation experience unparalleled convenience and reliability. This investment is not just about funding; it’s a catalyst for transformation, empowering us to usher in a new era of electric mobility in India.”

    Mr. Maheep Jain, CHARGE ZONE’s Board Member and Managing Director, Macquarie Capital said, “The automotive sector in India is heavily reliant on oil imports and is a large contributor of carbon emissions. With declining costs of electric vehicles and stable policy support, this sector is undergoing a multi-decade transformation towards electric mobility. CHARGE ZONE is addressing a critical bottleneck for EV adoption by developing a dense and reliable fast charging network. This commitment from BII will help accelerate CHARGE ZONE’s network expansion and support the Indian government’s EV ambitions.”

    Srini Nagarajan, Managing Director and Head of Asia, at BII commented: “As the UK’s DFI with a focus on providing climate finance, we continue to play a key role in accelerating India’s clean energy transition. Our support of CHARGE ZONE’s expansion will address the challenge of an underdeveloped EV charging infrastructure, facilitate a more sustainable transportation system and make EVs a viable and accessible option for many across the country.” 

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  • BMW launches all-electric i5 M60 xDrive in India

    Hyderabad: The debut of the inaugural BMW i5 in India marks the launch of the BMW i5 M60 xDrive, the country’s first all-electric BMW.

    This groundbreaking model boasts a robust power output of 601 hp, enabling acceleration from 0-100 km/hr in a mere 3.8 seconds. Its dual-motor all-wheel-drive system, coupled with integral active steering, ensures thrilling performance on the road.

    Featuring a modern interpretation of BMW’s signature twin headlights and illuminated kidney grille, the BMW i5 M60 xDrive offers advanced technology, including M-specific displays on the BMW Widescreen Curved display with the new BMW Operating System 8.5.

    With exemplary efficiency and a driving range of up to 516 kilometres (WLTP), the BMW i5 M60 xDrive sets a new standard in electric mobility. Available exclusively as a BMW M Performance model, it represents a fusion of elegance, innovation, and dynamic performance.

    Mr. Vikram Pawah, President of BMW Group India, expressed confidence in the BMW i5 M60 xDrive, citing its blend of heritage, performance, and sustainability. Positioned as a leader in the luxury electric mobility segment, this model promises an electrifying driving experience.

    Priced at INR 1,19,50,000 ex-showroom, the BMW i5 M60 xDrive offers a range of customization options, including various paintwork and upholstery choices. It comes with a standard two-year warranty and flexible financial solutions through BMW India Financial Services.

    The exterior design of the BMW i5 M60 xDrive features innovative elements such as the Illuminated BMW kidney grille and M specific exterior features, emphasizing its dynamic performance. Optional M Performance Accessories allow for further personalization.

    Inside, the BMW i5 M60 xDrive offers spaciousness, functionality, and premium materials, complemented by advanced digital services. M specific displays and customizable driving modes enhance the driving experience.

    Under the hood, the BMW i5 M60 xDrive combines powerful electric drive with hallmark M performance characteristics, achieving impressive acceleration and range. Advanced driver assistance systems and suspension technologies ensure safety and comfort on the road.

    With BMW Operating System 8.5, the BMW i5 M60 xDrive offers enhanced digital content and improved navigation features. The spread of Driver Assistance Systems further enhances safety and convenience for drivers.

    The BMW i5 M60 xDrive sets a new standard for electric mobility in India, offering a compelling blend of performance, sustainability, and luxury.

  • Electric Vehicles region-wise sales trend in Q4 FY 23-24 • EVreporter









    Electric Vehicles region-wise sales trend in Q4 FY 23-24 • EVreporter


























































    Trend in Leading Indian States from Jan 2024 to Mar 2024 (Q4 FY 23-24)

    Source: Vahan and Telengana Open data portal. Low-speed 2W data not included

    Category-wise Trend in Leading Indian States for Q4 FY 23-24

    Observations

    • Uttar Pradesh has the highest share (16.07%) of electric vehicles sold, with 83,154 units in Q4 FY 23-24. Of the total EVs sold in Uttar Pradesh, 56.8% (47,269 units) are passenger e-rickshaws.
    • E-2-wheeler sales are maximum for the states of Maharashtra, Karnataka, Tamil Nadu, Kerala, and Uttar Pradesh, which have a combined share of 55.16% in India’s high-speed e-2W sales.
    • Uttar Pradesh and Bihar have the maximum sales in the e-rickshaw category with approx. sales share of 41.3% and 15.6%, respectively, of all e-rickshaws sold in India in Q4 FY23-24.
    • Karnataka registered the highest sales of e-4Ws with 3,802 units for Q4 FY 23-24, followed by Maharashtra and Delhi with 3,655 and 2,944 units sold, respectively.
    • Karnataka has the highest e-Bus sales, with 419 units sold for Q4 FY 23-24.

    Source: EVreporter Q4 FY2023-24 report, Vahan and Telengana Open data portal. Low-speed 2W data not included.

    Full quarterly report available on EVreporter data portal.

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  • Musk in China after deferring India visit

    On a surprise visit to Beijing amid speculation that he may unveil Tesla’s autonomous driving technology in the burgeoning electric vehicle (EV) market in China, billionaire Elon Musk on Sunday met Chinese Premier Li Qiang and discussed future expansion plans for his automobile. Premier Li met with Musk, CEO of the US electric carmaker Tesla, in Beijing on Sunday, the state-run Xinhua news agency reported.

    The SpaceX and Tesla chief travelled to China at the invitation of the China Council for the Promotion of International Trade, meeting with CCPIT president Ren Hongbin to discuss further cooperation with the country, official broadcaster CTGN reported. Musk is expected to meet senior Chinese officials at the State Council and “old friends” in Beijing, Hong Kong-based South China Morning Post reported. His Tesla has become a popular EV in China after he set up a $7 billion factory in Shanghai, which went into production in 2020.

    Musk, who recently skipped a scheduled visit to India to meet Prime Minister Narendra Modi to firm up plans to open a Tesla factory in the country, is visiting Beijing when his Tesla market in China is threatened by the local EVs increasing sales. The Austin-based (Texas) Tesla has faced fierce competition from Chinese EV makers in the past few years. It has cut the prices of its Shanghai-made vehicles by up to six per cent to maintain its leading position in China’s premium EV segment.

    Grace Tao, Tesla’s vice-president of external relations in China, wrote a commentary piece in China’s official newspaper People’s Daily on Friday, saying autonomous driving is a key growth driver for the country’s new energy vehicle sector, arguing that the technology will hatch new business models such as robotaxis, a vision that Musk has embraced, the Post reported. Musk’s latest visit to China coincides with the 2024 Beijing Auto Show, which kicked off on Thursday. As a strong backer of Beijing in the US despite concerns over China’s rise across the political divide in Washington, Musk enjoys red-carpet treatment in China.

    In 2019, Tesla was allowed to drive cars into the Zhongnanhai compound, the living and working area of Chinese leaders, when former Premier Li Keqiang hosted the CEO.