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Tag: mobility

  • Hyundai Motor pips Volkswagen to become world’s 2nd-largest automaker

    Seoul, Nov 7: Hyundai Motor Group has outperformed Volkswagen Group to become the world’s second-largest automaker in terms of operating profit, industry data showed on Thursday.

    According to automotive industry data, Hyundai Motor Group achieved sales of 69.4 trillion won ($49.6 billion) and an operating profit of 6.5 trillion won during the third quarter.

    For the period from January to September, the South Korean automaker’s cumulative sales reached 208.9 trillion won, while operating profit was recorded at 21.4 trillion won, reports Yonhap news agency.

    In terms of operating profit alone, Hyundai Motor Group ranked second among global competitors after Toyota Group.

    The Japanese automaker reported an operating profit of 1.15 trillion yen ($7.4 billion) for the third quarter. and an operating profit of 32.4 trillion won for the January-September period.

    For the third quarter, Volkswagen Group has reported an operating profit of 4.3 trillion won. For the first nine-month period, Volkswagen’s operating profit stood at 19.36 trillion won.

    With Volkswagen Group facing challenges in the Chinese market, many industry watchers see Hyundai Motor Group as being poised to secure the No. 2 position in terms of operating profit after Toyota Group for the entirety of 2024.

    Hyundai Motor Group, however, is likely to take some time before surpassing Volkswagen Group in global sales volume.

    From January to September this year, Hyundai Motor Group sold 5.4 million units worldwide, maintaining its position as the third-largest automaker, following Toyota Group at 7.18 million units and Volkswagen Group at 6.5 million units.

    “Operating profit, in addition to sales volume, is a crucial performance indicator in the auto industry,” Kim Pil-soo, an automotive professor at Daelim University, said. “Hyundai Motor Group is performing well despite an overall decline in vehicle demand affected by the so-called EV chasm affecting the industry.”

  • Hala Mobility secures Rs 51 Cr to accelerate EV adoption in India

    Mumbai, Nov 06: Hala Mobility, India’s fastest-growing EV-as-a-Service Platform, has secured Rs 51 crore in its pre-Series A funding round, a combination of debt and equity. The round saw participation from founders Srikanth Reddy and Snehith Reddy, Phani Ramineni (Founder of Previa Health), along with Rohan Bajaj syndicate via invstt, sarthy angels, Bestvantage and a network of high-net-worth individuals (HNIs) and family offices.

    This new capital will be instrumental in scaling Hala Mobility’s EV fleet and expanding its footprint to six additional cities across India. The company aims to deploy 10,000 new electric vehicles by December next year, furthering its vision of revolutionising urban mobility with sustainable and eco-friendly solutions.

    “At Hala Mobility, we’re not just offering convenience but pushing for necessary change. This funding is a major milestone as we gear up to expand our EV fleet and extend our green mobility solutions to more cities,” said Srikanth Reddy, Co-Founder of Hala Mobility. “The support from our investors enables us to scale rapidly and drive the shift towards cleaner, more sustainable urban transportation across India. We believe the future of mobility has to be clean and efficient, and we’re here to drive that change.” added Srikanth.

    Hala Mobility, based in Hyderabad, operates in six major Indian cities: Hyderabad, Bangalore, Chennai, Vizag, Vijayawada, and Guntur. The company provides an EV-as-a-service platform designed for e-commerce companies and gig workers. Their platform includes an app with software for EV, Battery and driver management, along with a fleet of electric two-wheelers ensuring 95% uptime guarantee and round-the-clock service availability. Currently working with Bigbasket, Zomato, and Zepto and partnering with 13 scooters and eight battery manufacturers. They have a dense service network setup named S3 stations, serving as the epicentre of demand and supply. They efficiently manage the ground operations by increasing revenue by 25%, reducing churn by 42% and increase earning potential by 48%. With 3000+ fleet Hala has travelled more than 132M kms on EV’s reducing more than 4000 metric tonnes of CO2 emissions and saving 2M Litres of fuel consumption. With peta bytes of location information and vehicle information processed, hala’s ML algorithms are today capable of mapping demand, vehicle type, battery type to different geographies, terrains, users and businesses and stiching a right solution with available providers on ground becoming a full stack EV solution offering.

    Hala Mobility is focused on expanding its geographical reach and fleet size. It currently has a fleet of 3000 electric two-wheelers in Hyderabad, Bangalore, Chennai, Vizag, Vijayawada, and Guntur in Hyderabad, with a further growth of 10,000 more fleet within these cities.

    “Hala Mobility is leading the way in revolutionising urban transportation using technology and innovation. Investing in Hala gets us to be part of a forward-thinking movement that prioritizes cleaner, more efficient mobility for cities. This aligns with our commitment to supporting sustainable initiatives and presents an opportunity to contribute to meaningful change while backing the growth of eco-friendly transportation.” – Kanishk Dubey & Sathvik Reddy

    “My investment in Hala Mobility is driven by our vision of transforming mobility through sustainable solutions and the development of a complete EV life cycle management software. This platform not only supports the current fleet expansion but also opens up future applications across the EV ecosystem. I’m committed to driving this innovation and leading the shift toward a greener, tech-driven future.” – Phani Ramineni, Previa Health

    Hala Mobility is part of a growing ecosystem that recognizes the importance of reducing transportation’s environmental impact while improving mobility options for urban dwellers. The company’s continued innovation in the EV space positions it as a leader in this rapidly evolving market.

  • Skoda Kylaq To Be Launched On Dec 2; Price Starts At ₹7.89 lakh

    Skoda unveiled its much-awaited SUV Kylaq for the Indian market today. Priced at ₹7.89 lakh, the SUV will be available in six colour options including Lava Blue, Tornado Red, Carbon Steel, Brilliant Silver and Candy White along with a new Olive Gold. While the car will be officially launched in India on December 2, the delivery will commence from January 27,2025.

    Featuring 17-inch alloy wheels, the Kylaq looks like a mini Kushaq with a very similar face and rear end. On the interior, it offers dual digital screens, powered driver seat, leatherette upholstery, connected car technology, ambient lighting, and a six-speaker Canton sound system. All the variants including the top and the base will include six airbags along with a traction control programme among many.

    The SUV encompasses a wheelbase of 2.56 metres and a length measuring 3.95 metres. Boot space is equivalent to 446 litres; however, with seats down, it stands at 1,265 litres. The Skoda 1.0-litre TSI petrol produces power and torque of 114bhp and 178 Nm.

    Notably, Kylaq serves as a very important car for Skoda as it’s priced attractively at ₹7.89 lakh. This brings them back to the sub-Rs.10 lakh price bracket after nearly a decade. Notably, Kylaq is expected to give good volumes, especially in Tier 3 and Tier 4 cities. With this launch, Kylaq will be competing with Hyundai Venue, Kia Sonet, Mahindra XUV 3XO, Maruti Fronx, Maruti Brezza, and the Toyota Taisor.

  • Sterling Tools and GLVAC partner to manufacture HVDC components for EVs in India • EVreporter

    Sterling Tools Limited (BSE: 530759) (NSE: STERTOOLS), an automotive fastener manufacturer in India, has partnered, through its wholly owned subsidiary Sterling Tech-Mobility Limited, with Kunshan GLVAC Yuantong New Energy Technology Co., Ltd. (GLVAC YT), a subsidiary of China’s Kunshan GuoLi Electronic Technology Co., Ltd. (GLVAC), to manufacture High Voltage Direct Current (HVDC) contactors and relays in India. These components are essential for regulating current flow in electric and hybrid vehicles.

    This partnership is projected to generate INR 250 crore in revenue by FY30. Sterling Tools, through its subsidiary Sterling Tech-Mobility Limited, will manufacture and assemble HVDC contactors and relays at a new facility in Bengaluru, India, with an investment of about INR 40 crore. The initiative aims to reduce import reliance, aligning with the Indian government’s Atmanirbhar Bharat vision and supporting the Make in India initiative. This facility will provide Indian OEMs, Tier-I suppliers, and other stakeholders with access to locally produced technology, advancing the domestic Electric Vehicles (EV) and Hybrid Electric Vehicles (HEV) ecosystem.

    HVDC contactors and relays play a critical role in electric and hybrid vehicles, controlling high-voltage electricity flow among the battery, motor controller, inverter, and other power electronic systems. They enable safe switching and isolation in EV power circuits, contributing to operational efficiency and protection against electrical faults. In the event of a short circuit or accident, they prevent risks such as fire and explosion.

    Commenting on this new association, Anish Agarwal, Director from Sterling Tools Limited, said, “As the electric and hybrid vehicle markets continue to expand, it is important that we integrate the highest safety measures in the electric and hybrid vehicles through advance technological systems. At Sterling Tools, we recognize these concerns and are dedicated to enhancing safety in the EV and HEVs segment. This association highlights our commitment to the safety of high voltage battery & power electronic systems and contribute to the Make in India initiative of the Government of India. We will manufacture advanced HVDC Contactors and relays at our new Bengaluru facility, making them more affordable and accessible for OEMs and Tier-1 companies.”

    Li Qinghua, General Manager from GLVAC YT, said, “India is an important market for us, and through our association with Sterling Tools Limited, we are poised to strengthen the EV and HEV sectors in India. As a key player in EV components, we recognize India’s immense potential in the electric vehicle market. This partnership combines our technological expertise with Sterling’s manufacturing excellence to deliver high-quality, critical EV components to the Indian market. We see this partnership as a significant step toward supporting the country’s electric mobility journey. Together, we aim to drive meaningful advancements in EV components landscape, contributing to a more sustainable future.”

    Also read: Sterling Tools partners with Yongin Electronics for EV component production in India

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  • India’s No.1 Commercial EV manufacturer, Mahindra Last Mile Mobility Limited, surpasses 200000 electric vehicle Milestone

    Mahindra is the flagbearer of electrification in the L5 segment which saw the EV penetration increase to 21.7% YTD FY25 from 7.6% in FY23 as per Vahan.

    More than 100000 EVs were sold by Mahindra in the last 17 months, supported by the launch of new technologically advanced products like Treo Plus, e-Alfa Plus, and Mahindra ZEO.

    Mahindra holds a 41.2 % market share, as per SIAM, across the L5 EV category.

    Mahindra introduces a new loyalty program, UDAY NXT, that now includes ₹ 20 Lakh* driver accidental insurance cover to vehicle buyers.

    MUMBAI: Mahindra Last Mile Mobility Limited (MLMML), a subsidiary of Mahindra & Mahindra Limited (M&M), proudly solidifies its position as India’s leading commercial EV manufacturer. With over 200000 electric vehicles sold to date, MLMML continues to set the benchmark in sustainable transportation and innovation within the commercial EV space.

    Offering the most extensive range of technologically advanced small commercial electric vehicles in India, MLMML’s lineup includes the Mahindra Treo range, the e-Alfa range, and Zor Grand three-wheelers. Building on its success in the three-wheeler category, MLMML has recently expanded its portfolio with the launch of Mahindra ZEO – an electric four-wheeler small commercial vehicle in the < 2 t segment. 

    MLMML’s largest sales/service network, and technologically advanced products built to enhance customers’ lives have also helped make the company the go-to electric last-mile mobility manufacturer.

    MLMML has made significant strides in electrifying the three-wheeler L5 segment, which has an overall 21.7 % penetration, YTD FY25, in this category as per Vahan. MLMML holds a 41.2 % market share across all L5 EVs as per SIAM. Remarkably, in the past 17 months, MLMML has achieved sales of over 100000 units, further solidifying its market dominance. MLMML has maintained its market share, despite stiff competition, by launching new customer-centric products like the Treo Plus and e-Alfa Plus in FY25. To meet the increasing demand, production at MLMML’s world-class manufacturing plants in Bengaluru, Haridwar, and Zaheerabad has also been substantially increased.

    To celebrate this momentous occasion, MLMML has introduced a new Loyalty Program, UDAY NXT, for its customers. Those who buy a new MLMML vehicle now will get ₹ 20 Lakh* driver accidental insurance cover, along with career counseling for customers’ kids, business/finance counseling, and more. This program has been carefully curated taking into account customer needs and feedback. MLMML, in fact, was the first automobile manufacturer to introduce the highly-lauded UDAY program to support customers.

    Suman Mishra, Managing Director and CEO of Mahindra Last Mile Mobility said, “At Mahindra Last Mile Mobility, sustainability is not a choice but a promise to our future generations. Our collaborative, agile, and bold efforts have helped reimagine the last-mile ecosystem with reliable products and integrated solutions. Reaching the milestone of 200000 electric vehicles reflects our dedication to innovation and addressing the evolving needs of urban logistics.”

  • EV Charging Market Expected To Touch $3.7 Bn Mark By 2030

    Battery swapping, particularly for two- and three-wheelers, is emerging as a popular solution in India, with major auto companies investing in battery-swapping technologies to make EVs more affordable and accessible

    New Delhi: India’s electric vehicle (EV) charging market is projected to reach $3.7 billion by 2030, led by an increasing adoption of EVs, according to a report on Tuesday.

    Globally, the EV charging infrastructure market is poised to expand significantly, with revenues projected to surge from $25.9 billion in 2023 to $164 billion by 2030, reflecting a compound annual growth rate (CAGR) of approximately 12 per cent.

    In India, the growth is expected at a CAGR of 16 per cent and an increasing adoption of electric vehicles, driven by environmental concerns and fluctuating fuel prices, is a major factor contributing to this growth, according to the report by 1Lattice, a leading tech-enabled market intelligence firm.

    “With India’s EV market set to reach $3.7 billion by 2030, fast-charging technologies and battery-swapping solutions are key to addressing range anxiety and making EV adoption more practical for everyday users,” said Abhishek Maiti, Director-Industrial Goods and Services, 1Lattice. Battery swapping, particularly for two- and three-wheelers, is emerging as a popular solution in India, with major auto companies investing in battery-swapping technologies to make EVs more affordable and accessible.

    Globally, investments in EV charging infrastructure grew at a CAGR of approximately 30 per cent between 2018 and 2023. India has also witnessed strong investment growth, with a CAGR of 35 per cent during the same period, the report noted. As per another report by S&P Global Ratings late last month, the Indian government continues to push for higher EV production in the country and for greater localisation of supply chains, which will be key to help the country reach the target of 30 per cent EV penetration by 2030.

    The government recently launched the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) scheme that has a financial outlay of Rs 10,900 crore over a period of two years. The PM E-DRIVE scheme will play a pivotal role in accelerating EV adoption and building critical charging infrastructure nationwide, contributing to a cleaner and more sustainable future.

  • Hyundai, Kia’s Sales In US Rise 17.4% In Oct

    Seoul: Combined vehicle sales of Hyundai Motor and Kia in the United States climbed 17.4 per cent (year-on-year) in October due to increased demand for the automakers’ hybrid models, the companies said on Monday.

    The companies’ combined US sales stood at 147,613 units last month, up 17.4 per cent from a year earlier, marking the highest combined sales for any previous October. Hyundai Motor, including Genesis models, sold 78,705 units, up 18.3 percent, while Kia sales gained 16.5 percent to 68,908 units, reports Yonhap news agency.

    The companies’ eco-friendly vehicle sales surged 52 percent on-year to 31,668 units. Hybrid vehicles led the segment with an impressive 64.9 percent jump to 21,679 units, setting a new monthly record.

    Hybrid versions of Hyundai’s Tucson SUV and Kia’s Carnival minivan, in particular, achieved strong sales growth last month, with the Tucson hybrid logging a 110 percent sales increase to 6,790 units and the Carnival hybrid model selling 1,941 units.

  • Mahindra Last Mile Mobility hits 200,000 EV sales in India’s commercial segment • EVreporter

    Mahindra Last Mile Mobility Limited (MLMML), a subsidiary of Mahindra & Mahindra Limited (M&M), reports the sale of over 200,000 electric vehicles, underscoring its presence in India’s commercial EV market. MLMML’s product portfolio includes the Mahindra Treo range, e-Alfa range, and Zor Grand three-wheelers. Expanding its lineup, MLMML recently introduced the Mahindra ZEO, a small electric four-wheeler commercial vehicle in the <2-ton segment.

    MLMML has increased production at its plants in Bengaluru, Haridwar, and Zaheerabad to address rising demand. The company’s sales and service network, along with its emphasis on customer-focused design, supports its position in the last-mile mobility market. In the three-wheeler L5 segment, which saw EV penetration reach 21.7% YTD FY25, MLMML maintains a 41.2% market share, according to SIAM. In the last 17 months, MLMML recorded sales of over 100,000 units, driven by new releases like the Treo Plus and e-Alfa Plus in FY25.

    In recognition of this milestone, MLMML has introduced the UDAY NXT loyalty program for customers. New vehicle buyers will receive a ₹20 lakh driver accidental insurance cover, along with additional support in career counseling for customers’ children, business and finance guidance, and other services. This program builds on Mahindra’s prior UDAY program, developed in response to customer needs.

    Ms. Suman Mishra, Managing Director and CEO of Mahindra Last Mile Mobility said, “At Mahindra Last Mile Mobility, sustainability is not a choice but a promise to our future generations. Our collaborative, agile and bold efforts have helped reimagine the last mile ecosystem with reliable products and integrated solutions. Reaching the milestone of 200000 electric vehicles reflects our dedication to innovation and addressing the evolving needs of urban logistics.”

    Also read: Mahindra Last Mile Mobility launches Mahindra Zeo 4W SCV, starting from ₹7.52 Lakh

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  • Royal Enfield Takes Leap Into Electric Era With Flying Flea C6

    Royal Enfield, a part of Eicher Motors, revealed its much-awaited electric motorcycle, the Flying Flea C6, yesterday night. Interestingly, the ‘Flying Flea’ name is a nostalgic reference to the lightweight, air-droppable motorcycles used during World War II.

    According to Enfield, the Flying Flea is “approved and ready for the drop”. During the presentation, the bikemaker also gave a brief overview of the bike. The S6, like the C6, is lean and taut with minimal bodywork, but it has a somewhat taller stance. Some of the primary visual characteristics are a round headlight with a chrome bezel, a circular digital instrument dashboard, a floating tail section, a false engine casing, gold anodised front forks, a beak in the front, and wire-spoke wheels with knobby dual-purpose tires.

    Key Features

    Design Highlights: Round LED headlight, low seat height, comfortable rider ergonomics.

    Estimated Range: 100-150 km

    Target Use: Urban commuting

    Front Suspension: Girder forks

    Frame: Forged Aluminium frame

    Instrumentation: Round TFT display

    Safety Features: Cornering ABS, traction control

    In addition, the company has not released any performance data for the motorcycle. The battery capacity and specifics of the electric motor are also unclear. The brand is expected to publish these details shortly.

    Price and launch date

    The Royal Enfiel Flying Flea C6 is set to launch in India in January 2026 and is projected to cost between ₹ 5,00,000 and ₹ 6,00,000.

  • Royal Enfield launches new electric vehicle brand named Flying Flea • EVreporter

    Milan, Nov 4, 2024 – Flying Flea is the new EV brand from Royal Enfield. Flying Flea’s first products will be the classic-styled FF-C6, followed by the scrambler-styled FF-S6, both expected by early 2026.

    Speaking about what Royal Enfield brings to the Flying Flea and electric mobility, Siddhartha Lal, Managing Director, Eicher Motors Ltd., said: “Today, as we get ready to script a new chapter for Royal Enfield, this mission has been the driving force and inspiration, and is the link between Royal Enfield and the Flying Flea, our new brand for super fun, gorgeous and enjoyable urban-plus mobility. This is a significant step in our evolution as a brand and an opportunity for us to distill the essence of Royal Enfield DNA combined with all the great benefits of EV technology and bring something absolutely delightful and differentiated to the world of city-plus mobility.”

    Announcing the creation of the brand and showcasing its first two models at the global launch event in Milan ahead of EICMA, B Govindarajan, CEO of Royal Enfield, added: “It is an especially exciting moment for us, as we present the new Flying Flea brand at EICMA. This represents a completely new chapter for Royal Enfield, inspired by our legacy, driven by our vision for the future and an outcome of REBALANCE, our approach to business.” 

    He further added: “We’ve been deeply investing in R&D and infrastructure for EV over the last many years, and have built a world-class team including 200+ engineers in India and the UK. We have also initiated the development of an EV manufacturing plant in Chennai, India. We have invested in Barcelona-based Stark Future known for its advanced off-road electric motorcycles. All aspects of our connected electric motorcycles, including product strategy and development, technical components like motor, battery, BMS, custom software, and our retail and market strategy have been developed in-house by our dedicated technical and commercial teams.” 

    Speaking specifically about the brand launch and models unveiled at the launch event, Mario Alvisi, Chief Growth Officer of Electric Vehicles for Royal Enfield said:“Flying Flea is not just a new division but a completely fresh start in every respect; when we say this is a city+ platform, this is to say Flying Flea allows riders to break free to and from the city with a truly moving and visceral riding experience. With no carryover, no crossover and no cutting of corners the end result is products unlike any other in the market.”

    The first model under Flying Flea to hit the road next year will be the FF-C6. Taking inspiration from the original Flying Flea model, this is a modern interpretation with a sophisticated, distinct aesthetic coupled with class-leading technology. This will be the first motorcycle to bring to life the core pillars of the Flying Flea brand:

    – Authentic retro-futuristic style – The authentic design is highlighted by the first-of-its-kind contemporary reimagining of the original Flying Flea front suspension, featuring a forged aluminium Girder fork and articulating mudguard. The flowing forged aluminium frame provides a lightweight yet strong structure with a timeless silhouette, while the magnesium battery case utilises organic design language for optimal weight saving and cooling. The dynamic front fins, arranged in odd sequences, represent innovation and modern technology while the elegant rear fins, placed in even sequences, embody tradition and legacy. Both clusters of fins twist and turn, eventually merging seamlessly into a graceful wing-shaped motif at the centre. A true round touchscreen cluster maintains classic lines alongside high-tech functionality.

    – Cutting Edge Technology–  Cutting-edge connected features utilise a myriad of native technologies for a seamless experience both on and off the bike – 28 patents have been filed in the last six months alone, with further advancements coming by the day. To leverage the full capabilities of the FF-C6, we have developed a central Vehicle Control Unit, which integrates all the physical and digital touchpoints, powered by a tailor-made chip made specifically for FF. This VCU enables over 200,000 different ride mode combinations, constantly monitors your bike.

    – Accessible and Exciting Riding Experience – Effortless twist-and-go visceral acceleration creates an intoxicating mix of pace and fun with lean angle sensing ABS, alongside efficient and capable highway cruising with cruise control. Easy and fast charging at a domestic 3-pin plug coupled with ample range to explore your city. Easy handling paired with lightweight components result in an infinitely usable, uncomplicated and encouraging ride regardless of your ability. 

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