Government EV push, FAME II ending March 31st 2024, FAME III likely in main budget in July
The faster adoption and manufacturing of electric vehicles II scheme (FAME II) is ending today. Government has given a total subsidy of INR 11,500 crore under the scheme to manufacturers and consumers.

How fleet owners can overcome the dual challenge of EV financing and high cost of ownership
One of the primary barriers to EV adoption in India is the limited availability of financing options. This challenge stems from the perception of high risk associated with the nascent EV market, leading to cautious lending policies by financial institutions. A report by the World Bank highlighted the apprehension among banks and non-banking financial companies (NBFCs) regarding EV technologies, their resale value, and the adequacy of the charging infrastructure. Consequently, the penetration rate of financing for EVs in India is significantly lower compared to that for traditional internal combustion engine vehicles, which typically sees over 75% of vehicles financed.

New scheme on e-mobility kicks in today
New Delhi: The new Rs 500 crore scheme to promote electric mobility in India will come into force from Monday and continue till the end of July. Meanwhile, the second phase of FAME, or Faster Adoption and Manufacturing of Electric Vehicles in India (FAME-II) programme, ends on March 31, 2024. Subsidies under the FAME scheme will be eligible for e-vehicles sold till March 31, or till the time funds are available. The Rs 500 crore Electric Mobility Promotion Scheme 2024 (EMPS 2024) scheme is being introduced by the Ministry of Heavy Industries to further accelerate the adoption of electric vehicles (EVs) in the country. Under EMPS 2024, a support of up to Rs 10,000 per two-wheeler will be provided. The aim is to provide support for about 3.33 lakh two-wheelers.

Govt forms 14th task force to explore use of biochar in steel production
New Delhi: The government has set up a task force to explore the use of biochar in steel production as part of its efforts to reduce carbon emissions in the steel industry. According to official data, the domestic steel sector accounts for 12% of India's greenhouse gas emissions with an emission intensity of 2.55 tonnes CO2 per tonne of crude steel compared to the global average of 1.9 tonnes CO2.

Charging infrastructure, rapid charging, route optimization, and driving behaviour check are the keys to enhance the electrified last mile mobility
New Delhi: Remember the last time you waited for weeks for your e-commerce parcel? No, right? Nowadays the connectivity has boosted a lot that you can get your orders/parcels within a few minutes like from Zepto, Blinkit, and within a day or two from Amazon, Flipkart, and other sites.

Electric vehicle OEMs await subsidies due to delayed certification portal for EMPS rollout
New Delhi: Come April 1, the electric two-wheeler (e2W) and three-wheeler (e3W) manufacturers are in a state of total confusion about whether to continue with the discounts on the vehicles to the customers under the Electric Mobility Promotion Scheme (EMPS) 2024. The scheme, which kicks off from April 1, offers a subsidy of up to ₹10,000 per e2W and ₹25,000 e3W and up to ₹50,000 on heavy e3Ws (autos and commercial units).

Red Sea: Auto firms see cost turbulence: Freight rates double, longer lead time
Mumbai: A steep jump in freight expenses and a longer lead time for supplies of components, following the Red Sea crisis, are driving up costs for India's auto manufacturers. However, this has not reflected in demand for their vehicles just yet. Rakesh Sharma, executive director, Bajaj Auto, told FE that freight rates have doubled because of the reduced sailings via the Red Sea as well as higher insurance costs."The cost impact on a motorcycle would be in the region of $15-20," Sharma said. He added that while this may not be the kind of increase which affects demand, it would  certainly makes logistics more complex.

Bajaj Auto is India's largest exporter of two-wheelers. While Africa is the biggest market for its own brand of products,it exports motorcycles of KTM and Triumph to the US and Europe. Satyakam Arya, MD and CEO, Daimler India Commercial Vehides,said while the crisis has not impacted volumes, logistics costs have increased. 

In the green race, auto companies hop on powertrains
Carmakers in India are increasingly navigating a mix of powertrain technologies from petrol to hybrids to electric, driven by policy initiatives, tougher emission norms and changing customer preferences, among others.

New Rs 500 crore scheme to promote electric mobility kicks in from April 1
New Rs 500 crore e mobility scheme kicks in from today

Full throttle ahead: FY24 roars to 4.23 mn PV sales, 4.15 mn in retail

All 12 months in 2023-24 (FY24) were record months in terms of sales.

The original green drivers: The early adopters of electric cars in India are still passionate about EVs and sustainability
“From Lobo, I got the cells that matched my car,” says Prasad. The entire process, including hauling the car to Bengaluru and back, cost her more than INR 1 lakh. But she was soon back to driving in the hills and has clocked more than 14,000 km in her done-up vehicle. Prasad has taken a precaution as well. She has installed an active cell balancer, which reduces the chance of an individual cell degrading. With this, Prasad believes she can drive her e2o for another 10-15 years. Cars, she says, should be driven for as long as they are drivable. It is a belief many early adopters of e-mobility share.

Refurbishing India’s carbon credit monetisation network
While carbon credit monetisation is emerging as an invaluable asset in helping combat the proliferation of GHG emissions, India lags a little behind due to the fragmented and unorganised nature of the current carbon credit market. Having said that, India is all set to embrace a seismic transformation, with active efforts being made by the government to boost green finance by launching a fintech lab for carbon credit trading in the Gift City, Ahmedabad. 

What challenges EV MSME manufacturers are facing and the way forward
In the midst of a global shift towards sustainable transportation, India has set its sights on an ambitious goal: achieving 30% of new vehicle sales through electric vehicles (EVs) by 2030, as part of its ‘EV30@30’ initiative. This endeavour not only signifies a commitment to reducing carbon emissions but also presents a lucrative opportunity for the country’s automotive sector. However, despite significant progress, the EV manufacturing industry, particularly the Micro, Small, and Medium Enterprises (MSMEs) segment, faces formidable challenges that must be addressed to unlock its full potential.

Wheels of tomorrow. How cars are becoming computers on the move

The modern automobile is much more than a wheeled contrivance; it is a moving computer. The quantum of electronics going into the manufacture of a car — already mind-boggling — is growing by the day.

Kia bolsters its network to 522 touchpoints in 236 cities
Kia announces its network expansion to 522 touchpoints across 236 cities. It aims to enhance its accessibility to 700 touchpoints in 300 cities by the end of 2024. The South Korean automobile manufacturer also aims to expand its network in Tier 4 cities and upcountry markets, which accounts for 46% of Kia’s network capacity in India. 

From Taisor to Swift: 5 Upcoming car launches in April
Like any industry, the month of April holds the key to many businesses including the auto industry. Besides financial results, OEMs take the opportunity to launch or unveil some new products. Something similar is slated to happen this coming April as well with multiple new models lined up for launch. Let us look at five cars expected to hit the Indian market in April this year.

Luxury car sales could breach 50,000 units mark for first time ever in 2024: Audi India head
Luxury car sales in India could cross the milestone of 50,000 units for the first time in a year in 2024 amid growing demand for such models, according to Audi India head Balbir Singh Dhillon. The overall domestic luxury car segment grew by 28% annually last year to record sales volume of around 48,500 units.

Car Review: BMW Ix1 Electric : Xtravagant, Xotic, Xcellent, Xpensive

It's the X you can buy, before Tesla comes with its Model Y 

TVS Motor exits TagBox after value erosion
Mumbai: TVS Motor Company, which has been on an investment spree, has lodged a near-100% wipeout of valuation of its stake in TagBox Solutions, a seven-year-old Bengaluru-based machine learning startup. The Chennai-based maker of motorcycles, scooter and three-wheelers has sold its entire stake (23.5%) in TagBox Solutions, an artificial intelligence-based supply chain solutions company, back to its promoters. ‘

2024 Bajaj Pulsar N125 spied for first time
Bajaj is working on a slew of models, especially in the Pulsar series. The bikemaker is in process of expanding the new-gen lineup of Pulsars which will eventually lead to the older models phasing out. Currently, the biggest Pulsars are the 250 siblings– N250 and F250. However, there will be another bigger Pulsar sitting on top of the quarter-litre sibling.

Citing 'disparity', Electric two-wheeler manufacturers call for GST reforms

While GST on components is 18-28 per cent, it is 5 per cent for electric vehicles (EVs), and this, according to them, creates an inverted duty structure, blocking up capital for manufacturers. 

Bharat Forge bids farewell to longstanding Director & Deputy Managing Director
New Delhi: Bharat Forge, a leading player in the manufacturing sector, has issued an official statement regarding the cessation of G. K. Agarwal's term as Director and Deputy Managing Director of the company. The announcement is in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

L Ganesh: A leader who steered Rane’s transformation into modern era
Chennai: Two weeks ago, Chennai-based leading auto component house Rane Group announced a significant transition in its leadership and said that Ganesh Lakshminarayan aka L Ganesh would relinquish his role as Chairman of the operating entities of Rane Group, effective from close of business hours on March 31, 2024. 

Steelbird Riderz Paradise outlets offer helmet servicing
Steelbird Helmets had a record-breaking 2023 as it registered a sale of around 80 lakh. According to Steelbird, it is the world’s largest helmet producer and is now expanding its network by opening over a thousand Riderz Paradise outlets. These new stores will be more than selling ISI-certified helmets and riding gear like jackets, gloves, boots and motorcycle accessories. These outlets will also offer helmet maintenance servicing, which includes repairs and replacement parts. 

JSW Steel commissions hot strip mill with 5 million tonnes capacity at Karnataka plant
New Delhi: JSW Steel on Saturday announced commissioning of a hot strip mill at its integrated steel plant in Vijayanagar, Karnataka. The company has also made first dispatch of steel products from the mill having an annual capacity of 5 million tonnes (MT), JSW Steel said in an exchange filing.

Panasonic to form JV with Indian Oil to manufacture cylindrical lithium-ion batteries in India
IOCL, Panasonic to form joint venture to make lithium-ion cells
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Assam: Two-day petrol pump strike deferred
The petrol pump strike in parts of Assam, scheduled to begin on Saturday morning, was deferred, a leader of their association said. The North East India Petroleum Dealers' Association (Greater Guwahati Unit) had called for 'no purchase no sale' from 5 am on Saturday till 5 am on Monday over a host of demands.

New car, SUV launches in the coming months
Source Credit: Autocar India

Planning to buy a new car this year? We bring to you a list of all new mass-market cars that are set to be launched in India in the coming months. The new car list doesn’t only include updates for existing cars, but also a range of new models that are nearing a launch. Here is a list of the 10 new cars that will go on sale in the coming months.

Mini Aceman EV images leak before debut on April 24
Source Credit: Autocar India

Images of the Mini Aceman have surfaced online before its scheduled unveiling at the Beijing motor show on April 24. These leaked images show a model that resembles Mini’s larger Countryman model. The Aceman EV crossover will be positioned between the smaller three-door Cooper and the Countryman. The BMW-owned brand is readying a major brand overhaul for its entire lineup, and that includes the Mini Cooper 3-door hatchback, which will have both electric and petrol powertrains.

Citroen Basalt vs C3 Aircross: how different are they?
Source Credit: Autocar India

Citroen recently revealed the Basalt coupe-SUV for India which will be brand’s fourth model based on the C-Cubed programme. The underpinnings are similar for all body styles on the modular CMP architecture – the C3 and eC3 hatchbacks, the C3 Aircross SUV and now the Basalt coupe-SUV – but in essence, the Basalt is closest to the C3 Aircross. Although Citroen hasn’t announced exact dimensions yet, it will measure a similar 4.3 meters in length, slotting right in the midsize SUV class.

Bentley EV reveal postponed to 2026
Source Credit: Autocar India

According to Bentley’s Beyond100 plan, the carmaker was to introduce five new electric models by 2030 following the launch of its first EV in 2025. However, the company has now opted to push the launch of its first electric model to 2026, and deliveries will commence later that year. The brand will use this delay to develop the V8 plug-in hybrid system for its future hybrid vehicle range. 

Huawei says Chery's Luxeed S7 premium EV starts mass delivery
The Luxeed S7 electric sedan, developed by Chinese tech giant Huawei and Chery Auto, has started mass delivery after a shortage of semiconductors and production issues delayed production and delivery, a Huawei executive said on Saturday.

S. Korean govt mulls further cut in EV subsidies
The government is considering further cutting electric vehicle (EV) subsidies next year to instead use the funds to supplement insufficient charging infrastructure, sources said on Sunday.

Why Stellantis’s CEO remains all-in on EVs as others retrench
Stellantis Chief Executive Carlos Tavares in February made an intriguing announcement: The Chrysler-parent company would remain all-in on electric vehicles, even as competitors scale back and sales growth slows.

Panasonic to sell autos business to Apollo Global-managed funds
Japan's Panasonic Holdings said on Friday it will sell its entire stake in Panasonic Automotive Systems (PAS) to funds managed by U.S. private equity firm Apollo Global Management, and then make an investment in the new holding entity.

Kia recalls 427,000 Telluride SUVs due to defect that they might roll away
According to documents published by the National Highway Traffic Safety Administration, the intermediate shaft and right front driveshaft of certain 2020-2024 Tellurides may not be fully engaged. Over time, this can lead to unintended vehicle movement while the cars are in park increasing potential crash risks.
 

Global EV uptake at turning point, due to lack of infrastructure, oversupply in China: Goldman Sachs
A Goldman Sachs research report on electric vehicles says the EV uptake is at a turning point, and hybrids and plug-in hybrids are giving a tough competition.

Mercedes-Benz partly loses class action case over diesel defeat devices
A German court ruled on Thursday partly in favour of consumers in a class action suit against Mercedes-Benz over diesel emissions defeat devices.