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Tag: mobility

  • BMW, Ford to recall 31,279 vehicles over faulty parts

    Seoul, Sep 11: BMW Korea and Ford Sales and Service Korea will voluntarily recall over 31,279 vehicles due to faulty components, the transport ministry here said on Wednesday.

    BMW will recall 2,787 vehicles across 13 models, including the BMW 520i, due to a malfunction in the advanced steering assistance system, reports Yonhap news agency.

    Also, 21,139 vehicles across 15 models, including the Mini Cooper D 5-door, will be recalled due to the potential risk of fire caused by coolant leaks in the exhaust gas recirculation cooler.

    Ford will recall 5,911 units of the Aviator SUV, as electromagnetic interference during mobile phone calls in the front seats could cause the 360-degree camera system to malfunction.

    Last month, Kia, Tesla and two other carmakers voluntarily recalled more than 100,000 vehicles due to faulty components. The four companies, including Ford Motor and GM Asia Pacific Regional Headquarters are recalling a combined 103,543 units of seven different models.

    Also, BMW Korea, Hyundai Motor and two other carmakers voluntarily recalled more than 172,000 vehicles due to faulty components. The four companies, also including Kia and KGM Commercial, recalled 172,976 units of 103 different models.

    The recall happened due to an error with the airbag module inflator of some BMW 320d units and a wiring error of the second-row seats of over 43,000 units of Hyundai Motor’s Santa Fe SUV.

    In July, Kia, Nissan Korea and three other carmakers voluntarily recalled more than 1,56,000 vehicles due to faulty components. 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.

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

  • Cabinet approves PM E-DRIVE Scheme with an outlay of INR 10,900 crores • EVreporter

    The Union Cabinet, has approved the Ministry of Heavy Industries (MHI) ‘s proposal to implement a scheme titled ‘PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme‘ to promote electric mobility in the country. The scheme has an outlay of Rs 10,900 crore over two years.

     The major components of the scheme are as follows:

    – Subsidies/Demand incentives worth INR 3,679 crore have been provided to incentivize e-2Ws, e-3Ws, e-ambulances, e-trucks and other emerging EVs. The scheme will support 24.79 lakh e-2Ws, 3.16 lakh e-3Ws, and 14,028 e-buses.

    – MHI is introducing e-vouchers for EV buyers to avail of demand incentives. At the time of purchase of the EV, the scheme portal will generate an Aadhaar-authenticated e-Voucher for the buyer. A link to download the e-Voucher will be sent to the buyer’s registered mobile number. This e-voucher will be signed by the buyer and submitted to the dealer to avail of demand incentives under the scheme. Thereafter, the e-voucher will also be signed by the dealer and uploaded on the PM E-DRIVE portal. The signed e-voucher will be sent to the buyer and dealer through SMS. The signed e-voucher will be essential for OEM to claim reimbursement of demand incentives under the scheme.

    – The scheme allocates Rs.500 crore for the deployment of e-ambulances. The performance and safety standards of e-ambulances will be formulated in consultation with MoHFW, MoRTH and other relevant stakeholders.

    – INR 4,391 crore has been provided for procuring 14,028 e-buses by STUs/public transport agencies. CESL will aggregate demand in the nine cities with more than 40 lakh population: Delhi, Mumbai, Kolkata, Chennai, Ahmedabad, Surat, Bangalore, Pune, and Hyderabad. In consultation with states, intercity and Interstate e-buses will also be supported.

     While allocating buses to cities/states, first preference shall be given to those number of buses being procured after scrapping old STU buses through authorised scrapping centres (RVSFs) following the MoRTH Vehicle Scrapping Scheme guidelines.

    – INR 500 crore has been allocated for incentivising e-trucks. Incentives will be given to those who have a scrapping certificate from MoRTH-approved vehicle scrapping centres (RVSF).

    – Electric vehicle public charging stations (EVPCS) shall be installed in the selected cities with high EV penetration and also on selected highways. The scheme proposes the installation of 22,100 fast chargers for e-4 Ws, 1800 fast chargers for e-buses and 48,400 fast chargers for e-2W/3Ws. The outlay for EV PCS will be Rs.2,000 crore.

    MHI’s test agencies will be modernized to deal with new and emerging technologies to promote green mobility. An outlay of Rs.780 crore has been approved for the upgradation of testing agencies.

    The scheme will incorporate a phased manufacturing programme (PMP) to encourage domestic manufacturing and strengthen the EV supply chain. 

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  • Indian EV Market Projected To Grow At Over 40 pc CAGR Till 2027: Report

    Mumbai, Sep 11: The Indian Electric Vehicle (EV) market is expected to grow in the range of 35-40 per cent CAGR till the year 2027, according to a report on Wednesday.

    The report by Niveshaay, which manages the Green Energy smallcase (a portfolio of stocks, which will benefit from the renewable energy sector development), showed that EV sales volume in India could touch around 3-4 million units by 2025, and 10 million by 2030.

    Currently, the Indian EV market is concentrated on the two and three-wheeler EV segment, which accounts for about 80 per cent of its vehicle market.

    “The Indian government is aiming to boost local manufacturing and reduce import dependency. It has introduced Production Linked Incentive (PLI) schemes and reduced customs duties on critical minerals to boost local manufacturing,” said Arvind Kothari, smallcase Manager and Founder of Niveshaay.

    “The balanced approach to policy support and market development is facilitating India to emerge as a remarkable contender in the global EV landscape, despite challenges like limited charging infrastructure,” he added.

    The new report further stated that EVs are expected to penetrate the market with approximately 10-15 per cent of new vehicle sales in India (including two-wheelers, three-wheelers, and passenger vehicles), driven by government incentives, rising fuel prices, and increased consumer awareness.

    By the year 2030, annual EV sales are projected to surpass 10 million units, with substantial growth in the deployment of electric buses, commercial vehicles, and private cars. EVs could represent 30-40 per cent of new vehicle sales in the market.

    With more than two million public charging stations projected nationwide, the study predicts a strong EV Infrastructure, the report said.

    The increase in EV Adoption, infrastructure, as well as manufacturing, can also be attributed to growth in Budget allocations for the EV sector.

    From Rs 10,000 crore allocated in FY2019-20 (FAME II scheme), it has increased to 19,744 crore (for Green Hydrogen mission) and 2,908 crore (continued FAME II Support) in FY2023-24.

    Faster Adoption and Manufacturing of Electric Vehicles (FAME) was introduced in 2015 to encourage the adoption of electric and hybrid vehicles by offering upfront incentives on purchase.

    The Union Budget 2024-25 has allocated Rs 2,671.33 crore under the FAME scheme, primarily to cover remaining liabilities from FAME II.

    In addition, the government has introduced the Rs 500 crore Electric Mobility Promotion Scheme (EMPS) to boost electric two- and three-wheelers.

    The increased PLI Scheme for automobiles and auto components to Rs 3,500 crore and the exemptions in customs duty on lithium, cobalt, and other rare minerals to reduce battery production costs, via the Union Budget, make electric vehicles more affordable.

    Driven by key government initiatives like the FAME and the EMPS scheme, India is poised to become a major player in the global EV market, specifically amongst the emerging markets.

    While China dominated with 60 per cent of global EV sales as of 2023, India’s large population and urbanisation are driving demand for affordable electric mobility.

    In contrast, the US and Europe, with EV penetration rates of around 7 per cent and 14 per cent respectively as of 2023, are focused on passenger vehicles and infrastructure development, the report said.

  • Clean Electric secures USD 6M Series A funding • EVreporter

    Deeptech startup Clean Electric has raised USD 6 million in Series A funding, with participation from InfoEdge, pi Ventures, and Lok Capital, along with continued support from Kalaari Capital. The funding will support the next phase of the company’s growth, under the leadership of Akash and Abhinav.

    Since Kalaari’s seed investment in 2022, Clean Electric has made progress in developing direct liquid-cooled battery packs for electric vehicle (EV) and energy storage applications. The company has moved from laboratory prototypes to commercializing its technology, establishing an assembly line and expanding operations beyond Bhopal. The patented architecture includes immersion cooling and a smart temperature modulation algorithm, aimed at improving charging efficiency without affecting battery performance. Clean Electric has commercialized its technology across multiple categories, including EV 2W, 3W, 4W, and stationary storage applications.

    The funding will be used to scale deployments and collaborate with original equipment manufacturers (OEMs) to bring fast-charging solutions to market. Clean Electric is also working on next-generation products with 3C/4C charging rates and has started piloting its technology in the stationary storage sector. The company plans to expand further in this area, as India’s climate and operating conditions provide a testing ground for the company’s energy storage technology, with potential for international scaling.

    Akash Gupta, Founder and CEO of Clean Electric, commented: “As a deep-tech company, we face numerous challenges, but we also achieve technological breakthroughs. Kalaari Capital has been an invaluable early-stage investor, supporting Clean Electric through both difficult and prosperous times. Their experience with pre-revenue deep-tech startups, coupled with the trust and autonomy they’ve given our executive team, has been crucial. We’re fortunate to have the continued support of Vani ma’am and Pranav.” 

    Pranav Koshal, AVP at Kalaari Capital, stated: “We take pride in being the first backers of Akash, Abhinav, and the Clean Electric team, who have consistently demonstrated passion and commitment to innovation. Clean Electric is emerging as a leader in efficient battery and energy storage systems, which are critical for driving EV growth and facilitating the transition to green energy.”​​​​​​​​​​​​​​​​ 

    Also read: Battery tech startup Clean Electric raises $2.2 million in seed round led by Kalaari Capital

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  • Gadkari Forecasts 1 Cr EV Sales By 2030

    Today, about 30 lakh electric vehicles are registered in India. e2-wheelers accounted for 56% of total sales – Nitin Gadkari, Transport Minister

    New Delhi: India’s electric vehicles market is expected to grow to one crore units annual sales mark by 2030 creating 5 crore jobs, Union Minister Nitin Gadkari said on Tuesday. Addressing the annual convention of Society of Indian Automobile Manufacturers (SIAM) Gadkari, the Minister for Road Transport and Highways, also expressed hope that India will become the number one automotive manufacturing hub in the world in future.

    “India’s EV market is expected to grow to one crore annual sales by 2030 and create five crore jobs,” he said. The minister further said the Indian EV market potential is likely to touch Rs20 lakh crore by 2030 across the entire EV ecosystem, with an estimated EV finance market size is Rs4 lakh crore.

  • Auto manufacturers must invest in R&D to make world-class industry: CEA

    New Delhi: Chief Economic Advisor V Anantha Nageswaran on Tuesday asked automobile manufacturers to invest in R&D in order to make a world-class industry. Speaking at the SIAM Annual Convention, he also asked them to focus on improving the global NCAP (New Car Assessment Programme) ratings of their products so that exports get further push.

    In general, he said, the Indian private sector roughly contributes about one third of the overall R&D spending in the economy while the remaining two thirds comes from the government. “Again, our studies show that it is not due to lack of government support for R&D spending in general, but it also depends on our ability to think over a much longer horizon…seeing the R&D expenditure as an investment, rather than as an expenditure against the profit and loss account,” he said.

    So, in that sense, he said, “enhancing the investment in R&D and becoming global leaders, it will be an important contributor to the ‘aatmanirbharta’ programme in terms of placing Indian manufacturing in the global roadmap.” Besides, he said, auto manufacturers should not see public mobility as a form of competition but as a complement.

    Talking about the Indian economy, Nageswaran said, it is doing quite well amidst the global uncertainty. “Thanks to the strong corporate and financial sector balance sheets, and thanks to massive investments in supply side infrastructure in the last 8-10 years…our potential growth of the economy is somewhere between 6.5-7 per cent and if we sustain some more reforms, especially at the state and local government level, then it is possible for us to raise this number to somewhere between 7-7.5 per cent,” he said. Sustainably, going towards 8 per cent would also require the global economy growing well, he said.

  • Maruti Suzuki gears up to launch its first EV with 500-km range in Jan

    New Delhi: Maruti Suzuki India on Tuesday said the automaker is geared up to launch its first electric vehicle (EV) with a range of 500 km per charge in January next year. The leading automaker announced this on the sidelines of the annual session of industry body Society of Indian Automobile Manufacturers (SIAM) in the national capital.

    Hisashi Takeuchi, Managing Director and CEO, Maruti Suzuki India, said that the company will have a high-specification EV with a high-range of the order of 500 km and powered by a 60 Kilowatt-hour battery.

    Maruti Suzuki India will also export EVs to markets like Europe and Japan. The mid-size SUV, likely to be called eVX, is estimated to be priced above Rs 15 lakh, as per reports, and will take on rivals like Tata Curve.ev and Mahindra & Mahindra’s Born EV lineup.

    Takeuchi said the automaker will come up with a range of solutions for its EV customers to remove their concerns on owning an EV. The company will use the strength of its network for after-sale support. “We are going to provide a complete ecosystem for the customers and solve for range anxiety, lack of EV infrastructure and residual value of EVs,” according to the company.

    Last month, Maruti Suzuki India said as India aspires to become “Viksit Bharat” by 2047, it will introduce electric cars in the next few months towards a sustainable mobility future. R.C. Bhargava, Chairman, Maruti Suzuki India, said the company will be introducing electric cars in the next few months.

    “While electric car use increases, customers should be encouraged to buy cars using strong hybrid technology, or CNG or ethanol and biogas. Pure petrol and diesel car use should be minimised,” Bhargava noted.

    The domestic automotive industry has crossed Rs 20 lakh crore mark in FY24 and has the potential to be worth $1.6 trillion (about Rs 134 lakh crore) by 2047, driven by electric vehicles (EVs), according to industry leaders.

  • Servotech to install 11 public EV charging stations for BESCOM in Karnataka • EVreporter

    Servotech Power Systems Ltd. (listed on the NSE), a manufacturer of EV chargers in India, has secured a contract to install 11 DC fast electric vehicle (EV) charging stations for Bangalore Electricity Supply Company Limited (BESCOM). The contract involves the installation of charging stations at 11 Regional Transport Office (RTO) locations across Karnataka. This initiative aims to expand EV charging infrastructure and provide more charging options for EV users in the state.

    Servotech will oversee the entire project, from planning and design to installation. The company will develop a strategy for the installation of the stations at each RTO site, ensuring adequate placement and capacity. The charging stations will be produced, tested, and inspected in line with safety and performance regulations. In addition, Servotech will offer warranty services and manage electrical connections and power supply requirements.

    Sarika Bhatia, Director of Servotech Power Systems Ltd. said, “We are glad to be working on this project for BESCOM. As a leading player in the EV sector, this initiative brings us closer to our collective goal of transforming India into an EV-powered nation. We are creating our green footprints, capturing every state, and every region of India. Having recently collaborated with ANERT and now with BESCOM our robust desire towards creating an EV charging framework is growing stronger day by day and we plan to enhance our presence by collaborating with other Nodal Agencies and DISCOMs in future as well. Our efficient hardware and software solutions will ensure dependable EV charging stations, catering to the growing demand for sustainable travel options. This project is key to support the expanding EV customer base and strategically scaling EV charging stations in high-demand areas. Together, with a shared vision and dedication, we are driving a smooth transition to green mobility through sustainable transport solutions.”

    Also read: Servotech gets INR 20 crore order for DC Fast EV chargers

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  • Kia 1st in customer experience among automotive brands in India: Data

    Seoul, Sep 10: Kia has ranked first among automotive brands operating in India in terms of overall customer experience, the South Korean company said on Tuesday, citing local industry data.

    Toyota and Tata Motors came in second and third, with 45.83 per cent and 44.35 per cent, respectively.

    According to Kia, the company ranked first, with a score of 45.84 percent, in the overall customer experience index survey conducted by the Federation of Automobile Dealers Associations of India (FADA) recently, reports Yonhap news agency.

    FADA is a reputable trade group in India with about 15,000 dealer members, collaborating with the local government and car manufacturers to release various market data.

    The survey, conducted for the first time this year, gathered responses from over 8,000 participants, focusing on sales experience, service experience and product experience.

    A Kia official said the survey results reflect the company’s efforts to provide a satisfying experience to all customers since the establishment of the Indian subsidiary.

    Meanwhile, Kia India logged domestic sales of 22,523 units in August, a 17.19 per cent YoY growth compared to the 19,219 units sold in the corresponding month of the last year. The new Sonet gained traction, with 10,073 units sold, informed the company.

    Meanwhile, Kia set a new record in terms of monthly electric vehicle (EV) sales per brand in August, thanks to the successful market debut of the company’s new EV3 model.

    According to auto industry tracker ‘CarIsYou’, the number of newly registered EVs produced by Kia last month totalled 6,398 units. The figure represents a 250 percent surge from last year and a 58.7 percent jump from the previous month.

  • NIIF gets CCI’s clearance to buy additional stake in Ather

    New Delhi: The Competition Commission of India has approved the National Investment and Infrastructure Fund’s (NIIF) proposal to acquire an additional stake in Ather Energy.

    The deal was cleared by the competition watchdog under the green channel route. “The acquirer (India-Japan Fund) proposes to acquire certain Series G Compulsorily Convertible Preference Shares of Ather,” the regulator said in an order. India-Japan Fund (IJF) is a fund managed by NIIF. The fund focuses on investing in environmental sustainability, and low-carbon emission strategies and promoting investments by Japanese companies in India.

    The transaction will help IJF further its goals by creating value for the broader market for electric two-wheelers, clean mobility transport solutions, and technology-led last-mile transport vehicles, it added.