Electric Vehicles This Week
Inc42 brings the weekly briefing on India's budding electric vehicle industry. Get a rundown of the latest news, innovations, new launches, research & insights on the electric vehicles industry and the global learnings.
Giving a neck-to-neck competition to mainstream embolity makers, as many as 18 startups are all set to showcase their electric vehicles (EV) and products in the upcoming Auto Expo 2020, which will be held from February 7 to 12 in Greater Noida.
Media reports suggested that Gurugram-based Okinawa Autotech, Jaipur-based Devot Motors, Pune-based eVERVE Motors, Bengaluru-based ONB Technologies India, Pune-based Sehgal Elmoto and Goa-based Kabira Mobility will be showcasing their products.
Also, Mahindra and Mahindra is expected to unveil the electric version of its KUV sports utility vehicle (SUV). Last year’s Auto Expo had hosted over 11 startups and showcased around 25 EVs.
Chart of the week: Consumer Spending
EV News From India
Amazon Adopts 10K Made In India EVs
Just after his India trip, Amazon CEO and founder Jeff Bezos announced that Amazon will be infusing 10K EVs in its delivery facility in the country by 2025. These electric vehicles will operate in over 20 cities, including Bengaluru, Delhi NCR, Hyderabad, Ahmedabad, Pune, Nagpur and Coimbatore among others.
Smaller Cars Will Boost EV Growth: Tata Motors
Tata Motors CEO and MD Guenter Butschek said that smaller SUVs and sedans, which are just below or above four metres, can boost emobility in India even further. “We would like to promote electric as a mainstream solution. In principle all future launches will provide an EV option,” Butschek added.
Jaipur-Based BattRE Launched LoEV E-Scooter
BattRE Electric Mobility launched its new electric scooter, LoEV, this week. The e-scooter is priced at INR 59K and will be available in offline stores and the ecommerce website Amazon. The scooter comes with a detachable battery that can be charged within two hours.
Maruti Suzuki Exec Speaks About EV Transition
Shashank Srivastava, executive director at Maruti Suzuki India said that it is important to focus on the right transition from conventional Internal Combustion Engine (ICE) to fuel-efficient alternative powertrain technologies before they switch to EVs completely. He noted that strong hybrids (SHEV), fuel cell vehicles, plug-in hybrids (PHEV) and natural gas (CNG) vehicles are sustainable as well.
The Indian Choice In Emobility
As per Deloitte’s ‘2020 Global Automotive Consumer Study’, the majority of users are willing to buy EVs if it costs less than INR 10 Lakh. Moreover, six out of ten Indians want EV manufacturers to buy back the vehicles at 40% of the original price after four years of usage.
Hyundai Looks To Sell Affordable EVs In India
South Korean automaker Hyundai is planning to launch an affordable EV in India, according to Hyundai Motor India MD & CEO SS Kim. In July 2019, Hyundai launched its electric sports utility vehicle (SUV) Kona at INR 23 Lakh.
Tata Tigor Is The Most Sold EV In India
With 669 units sold between April and December 2019, Tata Tigor became the most sold EV in India. The car was initially launched for government fleet but in October 2019, the company decided to sell the vehicle for personal use as well.
First Japanese Company To Make EVs In India
Japanese trading house Mitsui & CO has decided to produce electric cars in India. For this, the company has also partnered with Taiwanese automobile maker Telco electric and Machinery. With this, Mitsui & Co has become the first Japanese company to produce EVs in India.
Startup Of The Week: BattRE Electric Mobility
Founded in 2017 by Nischal Chaudhary, BattRE Electric Mobility is an electric vehicle manufacturer that makes electric scooters, e-rickshaws, electric bicycles and batteries for EVs.
BattRE launched its first e-scooter, BattRE-One, in June 2019. The premium electric scooter was powered by 48 V, 30 Ah battery that allowed it to cover 90 km on a single charge that took around 2.5 hours. The e-scooter was priced at INR 63,555.
This year, BattRE has once again launched an e-scooter called LoEV, which is priced at INR 59K. The vehicle is available in six colour variants and three riding modes. The scooter comes with features such as dual disc brakes, remote key, anti-theft alarm, reverse gear and wheel immobilizer. The company will be selling its scooter on Amazon and its offline stores.
EV News From Around The World
Volkswagen Invests In Chinese Battery Manufacturer
Volkswagen has bought 20% shares in Chinese battery manufacturer Guoxuan for $56 Mn. Guoxuon is said to be the fourth largest battery manufacturer in China and the eighth largest in the world. This comes after a report suggested that Volkswagen is expected to be the largest EV manufacturer by 2030.
Hyundai and Kia Invest $11M In UK-Based EV Startup
South Korean automobile maker and its affiliate Kia have invested more than $110 Mn in London-based EV startup Arrival at a $3.4 Bn valuation. Arrival runs its operations across Germany, the United States and Russia.