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  • Automobile sales grew 3%: SIAM

    New Delhi: Riding on overall economic growth, especially in the rural markets, the Indian automobile industry saw a robust performance across all segments in the first quarter of the current fiscal (FY25), including passenger vehicles, commercial vehicles, three-wheelers, and two-wheelers, data released by the Society of Indian Automobile Manufacturers (SIAM) said on Friday.

    In the passenger vehicles segment, sales surpassed one million units in Q1 FY25 for the first time.

    According to SIAM, sales grew by 3 per cent compared to the same period last year, reaching a total of 1,026,006 units. The growth was driven primarily by utility vehicles, which saw an 18 per cent increase, and even vans, which rose by 9.2 per cent.

    The two-wheeler segment also experienced substantial growth, with sales rising by 20.4 per cent to nearly five million units.

    Scooters led this charge with an impressive 28.2 per cent growth, while motorcycles and mopeds also posted significant increases.

    The three-wheeler segment saw a 14.2 per cent growth, reaching 165,081 units, the highest ever for Q1, driven by both passenger carriers and goods carriers.

    “The automotive sector shows resilience and adaptability, and is poised to continue its upward trajectory benefiting from both domestic demand recovery and favourable export conditions,” said SIAM President Vinod Aggarwal, citing positive monsoon forecasts and the festive season as potential growth drivers.

    Commercial vehicles also showed positive momentum with a 3.5 per cent increase in sales, totalling 224,209 units.

    In June, the Indian auto industry produced 2,336,255 units of passenger vehicles.

    When it comes to exports, passenger vehicle exports grew significantly by 18.6 per cent over the April-June period, with utility vehicles contributing a substantial 40.2 per cent. “The export of M&HCVs and LCVs grew by 11.3 per cent and 6.3 per cent respectively,” the report noted.

  • Need sops for EV push: SIAM

    New Delhi: Auto industry body SIAM on Friday sought sops to promote EVs and suggested the government to bring in additional incentives for scrapping of vehicles in the upcoming Budget.

    The Society of Indian Automobile Manufacturers emphasised on a growth oriented Budget with focus on greater allocation for capital expenditure.

    “We are expecting that the government should come up with a FAME-3 like policy. Good schemes like PLI are already in place, which we are sure will continue,” SIAM President Vinod Aggarwal told reporters here.

  • Automobile sales jump in Q1 FY25 over economic growth, rural demand: SIAM

    New Delhi, July 12: Riding on overall economic growth, especially in the rural markets, the Indian automobile industry saw a robust performance across all segments in the first quarter of the current fiscal (FY25), including passenger vehicles, commercial vehicles, three-wheelers, and two-wheelers, data released by the Society of Indian Automobile Manufacturers (SIAM) said on Friday.

    In the passenger vehicles segment, sales surpassed one million units in Q1 FY25 for the first time.

    According to SIAM, sales grew by 3 per cent compared to the same period last year, reaching a total of 1,026,006 units.

    The growth was driven primarily by utility vehicles, which saw an 18 per cent increase, and even vans, which rose by 9.2 per cent.

    The two-wheeler segment also experienced substantial growth, with sales rising by 20.4 per cent to nearly five million units.

    Scooters led this charge with an impressive 28.2 per cent growth, while motorcycles and mopeds also posted significant increases.

    The three-wheeler segment saw a 14.2 per cent growth, reaching 165,081 units, the highest ever for Q1, driven by both passenger carriers and goods carriers.

    “The automotive sector shows resilience and adaptability, and is poised to continue its upward trajectory benefiting from both domestic demand recovery and favourable export conditions,” said SIAM President Vinod Aggarwal, citing positive monsoon forecasts and the festive season as potential growth drivers.

    Commercial vehicles also showed positive momentum with a 3.5 per cent increase in sales, totalling 224,209 units.

    In June, the Indian auto industry produced 2,336,255 units of passenger vehicles.

    When it comes to exports, passenger vehicle exports grew significantly by 18.6 per cent over the April-June period, with utility vehicles contributing a substantial 40.2 per cent.

    “The export of M&HCVs and LCVs grew by 11.3 per cent and 6.3 per cent respectively,” the report noted.

  • India electricity generation jumps by 15% for May amid scorching heat wave

    ELECTRICITY

    India’s electricity production went up by a robust 15.06 per cent to 167.55 billion units in May this year compared to 145.61 billion in the same month last year, as demand surged amid the scorching heat wave, according to the monthly report of Central Electricity Authority.

    Thermal power, generated mainly from coal-and gas-based plants, contributed 127.87 billion units which represented a 14.67 per cent increase over the same month last year.

    The demand for electricity peaked at a record high of 250GW on May 30 as an extended heat wave across North India kept electricity demand elevated in May and most of June. The peak power demand is projected to go up to 260GW in 2024-25.

    With the monsoon gathering pace to cover the entire country ahead of schedule and temperatures coming down in the northern states, the peak demand is currently at around 200GW.

    Hydropower generation is expected to increase with the reservoirs getting replenished during the monsoon. In May, electricity generation from large hydro projects rose 9.92 per cent to 11.62 billion units.

    electricity supply

    IANS

    Renewable energy projects, excluding hydro, generated 22.50 billion units, 18.34 per cent more than the year-ago period.

    The power ministry has directed domestic coal-based plants to blend 6 per cent imported coal till September in order to ensure that sufficient electricity is generated to meet demand.

    With India clocking an economic growth of 8.2 per cent, the highest among the major economies, the demand for power has also shot up due to the increased economic activity.

    The Government is also considering taking a relook at the power demand projections in order to plan for creating more generation capacity in the next five years.

    With inputs from IANS

     

  • Flag-off ceremony of 140+ electric cars for ride hailing service

    Mumbai, Jul 11: As part of the EV4ECO scheme for electric mobility ecosystem, Small Industries Development Bank of India (SIDBI), the country’s apex financial institution for MSMEs, and BluSmart, India’s largest EV ridehailing service, flagged off 140+ electric cars in presence of representatives from the Indian government and multilaterals. The ABCD (Aaओ Bनाए Cलीन Diल्ली) tagline of SIDBI is for increasing the EVs on Delhi Roads. SIDBI brings expertise of channelising financial and developmental support in green areas and also supports other lenders by reducing their perceived risks (through risk sharing facility) so that more lending can happen for EVs. Delhi EV Policy has been most progressive EV policy in India. The ABCD initiative will compliment EV policy and it is a responsive step to reduce the air pollution from country’s capital and make Delhi clean capital.

    Prakash Kumar, DMD, SIDBI said “SIDBI, being development financial institution (DFI), has taken proactive steps to green the enterprise ecosystem with its developmental and financial engagements. It has always remained at the forefront when it comes to promoting new technologies among the MSMEs through its innovative approach. SIDBI is engaged in several activities and expanding its horizon in the space of Greening the Ecosystem at all fronts be it startup, MSMEs, rural /unserved/underserved segments/pockets/artisan clusters and so on. We have commenced our journey to become “Green Bank”. SIDBI has understood the key challenges in the electric vehicle financing and henceforth, created unique schemes for EV ecosystem to support the adoption and streamline the finance for EV startups as well. SIDBI is pleased to support the BluSmart in their journey of zero emission ridehailing service.”

    Dr RK Singh, CGM, SIDBI said “India has set ambitious climate change mitigation targets and has committed to low-carbon growth in the transport sector. To support India’s commitment to EV30@30, it was strategized to conduct country-wide consultations across the EV value chain. SIDBI has launched the EV4ECO & EV-RSF schemes to enable the affordable financing of electric vehicles. These initiatives will also contribute to the reduction in vehicular emissions and reduce the operating cost in the logistics sector.”

    SIDBI is committed to compliment EV30@30 and is supporting the MSMEs in adoption of green technology in their operations. We have formulated other initiatives to encourage other lenders to enable the financing thorough Risk Sharing Facility and is proactive to support the women entrepreneurs in rural areas by enabling affordable finance for transitioning to electric vehicles used by them.

    Anmol Jaggi, Co-founder, BluSmart said “At BluSmart, our mission is to ‘Decarbonize Mobility at scale’ and SIDBI with its unique ABCD initiative supporting EVs is fuelling our growth in Delhi NCR and helping in accelerating the adoption of EVs contributing to the reduction of carbon emissions from the transportation sector.”

  • Analog Devices Expands its Presence in India with New Centre in Hyderabad

    Analog Devices, US-based semiconductor company, sees significant growth opportunities in the Indian market.

    Already established in Bengaluru and Gandhinagar, the company plans to open a new centre in Hyderabad.

    Vivek Tyagi, MD of Field Sales at Analog Devices India (ADI) said that in the past eight months, Analog Devices grew its headcount by 30% in India, emphasising its focus on the region.

    The company employs about 1,500 people in India, with around 1,200 being engineers. Tyagi noted the growing electric vehicle market in India, especially the two-wheeler segment, where over 10% of sales are electric.

    The EV industry forecasts that 50% of two-wheelers sold will be electric in India by 2030. Electrification trends and higher semiconductor usage in electric cars are key drivers.

    Tyagi also emphasised the contribution of electronic systems to India’s GDP, estimated at $300 billion.

    He highlighted the company’s focus on technological innovation, including the wireless battery management system (BMS), first shipped in 2021.

    Srinivas Prasad, senior director and India Site Head, stated that Analog Devices will continue to invest in assets, sales, and infrastructure in India.

    Analog Devices reported an annual revenue of $12.3 billion in the last year and is leveraging Artificial Intelligence.

  • Five automakers to recall over 1,56,000 cars for faulty parts

    Seoul, July 11: Kia, Nissan Korea and three other carmakers will voluntarily recall more than 1,56,000 vehicles due to faulty components, the transport ministry here said on Thursday.

    The five companies, also including Hyundai Motor Co., Porsche Korea and Toyota Motor Korea Co., will recall 1,56,740 units of 32 different models, the Ministry of Land, Infrastructure and Transport said in a statement.

    The problems that prompted the recall include poor durability of the electronic control hydraulic unit of 1,39,478 units of the Sorento SUV model, reports Yonhap news agency.

    Also, 8,802 vehicles across eight Nissan models, including the Q50 model, were found to have defective manufacturing of the propeller shaft.

    Hyundai’s luxury brand Genesis will recall 2,782 GV70 units due to defective engine ignition connection bolts. Porsche Korea will recall 2,054 vehicles across 17 models, including the 911 Carrera 4 GTS Cabriolet, due to a safety issue involving the lane-keeping function.

    Toyota Korea will recall 737 vehicles across three models, including the Prius 2WD, due to a defect in the rear door external handle, the ministry said.

  • Demand for electric buses to remain robust in India

    Focus on Cleaner Transportation

    • 10,000 electric buses will operate under PM e-bus Sewa Scheme

    • These eco-friendly vehicles are set to hit the roads in 2024

    • Number of EV registrations increased from 217 to 3,400 units in FY24

    New Delhi: The demand for electric buses is expected to remain robust in the coming years due to the growing focus on cleaner transportation systems and various government initiatives, a report showed on Wednesday.

    Last year, the government unveiled the PM e-bus Sewa Scheme, allocating a substantial $2.4 billion to deploy and operate 10,000 electric buses through a public-private partnership model across 169 eligible cities. These eco-friendly vehicles are set to hit the roads in 2024, with full deployment anticipated by 2026.

    According to the report by CareEdge Ratings, between FY21 and FY24, the EV segment experienced substantial growth, despite its smaller share in overall commercial vehicle (CV) sales.

    “Key indicators of this growth include increased adoption rates and a rising market share, aided by the gradual expansion of the EV infrastructure. Notably, this transition to EVs is particularly evident in the e-bus and light commercial vehicle (LCV) categories,” the report noted.

    In FY24, registrations of electric heavy passenger vehicles (e-HPVs), primarily large electric buses, surged significantly. The number of registrations increased from a mere 217 units in FY21 to an impressive 3,400 units in FY24.

    Registration of electric light passenger vehicles (e-LPV) also surged from 360 units to more than 10,500 units during the aforementioned period, the report noted.

    A surge in demand for electric buses across major cities in India is likely to support the growth of CV going ahead.

    The increase in demand for electric buses across India can be attributed to various factors, including rapid urbanisation leading to an increase in demand for sustainable and cleaner public transportation systems, heightened environmental concerns, large oil import bills due to diesel-run vehicles, technological advancements and improvements in battery charging infrastructure.

    Further, the Indian government, recognising the need for cleaner public transportation, has rolled out several initiatives to promote electric mobility. These include the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme and the National Electric Mobility Mission Plan (NEMMP).

  • Part of February Plans, Unrelated to UP Policy

    Indian automobile giant Mahindra & Mahindra has announced exciting news for SUV enthusiasts.

    The company has introduced a special price reduction for one of its flagship models, the Mahindra XUV700.

    As part of a promotional offer in celebration of the SUV’s third anniversary, the top AX7 variant is now available starting at Rs 19.49 lakh.

    This limited-time price cut comes as the XUV700 reaches a significant milestone, having recently rolled out its 200,000th unit in less than three years.

    Beginning July 10, the special pricing will be available for a period of four months.

    This move not only celebrates the SUV’s success but also aims to attract new customers.

    “The celebratory pricing and new colours reflect Mahindra’s gratitude towards its customers for their support and trust in the XUV700. The refreshed pricing aims to make the XUV700 even more accessible to a broader range of customers while providing exceptional value,” the automaker said in a statement.

    In addition to the price reduction, Mahindra has expanded the XUV700’s colour options with the introduction of two new colour options: Deep Forest and Burnt Sienna.

    This addition brings the total number of colour choices for the SUV to nine, offering customers a wide range of colour options to suit their personal preferences.

    With price reductions, the XUV700 has become an attractive option for people looking to buy a new SUV.

    Mahindra & Mahindra stated on Wednesday that its recent price reduction for XUV700 variants is not connected to Uttar Pradesh’s electric vehicle/hybrid vehicle policy.

    The company emphasised that the price cut is part of its strategic plan, driven by earlier material cost savings.

    Uttar Pradesh’s EV policy details:

    Uttar Pradesh, India’s second-largest car market, has eliminated registration fees for strong hybrid and plug-in vehicles, lowering their ownership cost by 10%.

    Presently, electric vehicles are taxed at 5%, whereas hybrids incur a 43% tax.

  • Electric Mobility Leader EKA Welcomes Rohit Srivastava As Chief Growth Officer


    EKA Welcomes Rohit Srivastava as Chief Growth Officer

    PUNE: EKA (Pinnacle Mobility Solutions), a leading electric vehicles & technology company with esteemed equity partners Mitsui Co., Ltd. (Japan) and VDL Groep (Netherlands), is thrilled to announce the appointment of Mr. Rohit Srivastava as the company’s Chief Growth Officer.

    Srivastava’s position at EKA Mobility will include organizational expansion, with an emphasis on top-line P&L responsibility. Sales, marketing, business development, and product management will all fall under his purview. His significant experience in developing innovative business models and encouraging value creation from the ground up will be critical in propelling EKA Mobility’s growth and success. 

    Dr. Sudhir Mehta, Founder and Chairman of EKA Mobility, said, “Delighted to welcome Rohit Srivastava to the EKA Mobility family. His vast experience and proven track record in the commercial vehicles and EV sectors make him an invaluable addition to our team. We are confident that his leadership will drive our mission of transforming the electric mobility landscape.”

    With over three decades of distinguished experience in Sales and Marketing, Srivastava has played a pivotal role in establishing sustainable businesses. He began his career with TATA Motors and progressed through the ranks to many distinguished positions within the company. In his most recent position, he was the Business Head of commercial Vehicles Passenger (CVP) at TATA Motors Ltd., where he was responsible for spearheading the electrification effort and advancing EV adoption in the public transport sector spanning buses, vans, and minivans. An engineer by training and a CII-Fulbright fellow, he is well-known for his customer-centric approach, lean thinking, and value chain optimization. His ability to create product strategies, establish project QCT objectives, and drive product development, testing, and validation has been critical in establishing EV portfolios and tech stacks for EV products.

    Rohit Srivastava, Chief Growth Officer of EKA Mobility, stated, “Joining EKA Mobility is a tremendous opportunity to contribute to a revolutionary phase in the mobility industry. I am eager to leverage my experience in driving customer-centric and sustainable business strategies to help EKA Mobility lead the charge in electric vehicle innovation. Together, we will build a future that prioritizes efficiency, sustainability, profitability, and exceptional customer experiences.”