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" Ola Electric has finalised plans to launch an electric autorickshaw meant to be sold directly to consumers, people aware of the matter said. The vehicle is likely to be called Raahi and the company is expected to unveil it later this month, they added. The vehicle will compete with the likes of Mahindra Treo, Piaggio Ape e-city and Bajaj RE in the electric threewheeler segment. Ola Electric has been working on the product for a couple of years as part of its wider plans to enter the commercial vehicle business. “Ola Electric is looking to make a slew of announcements, including on the gigafactory, in the next few months ahead of the listing. The e-autorickshaw is part of the same plan and internally the target is to do it over the next two weeks or so,” a person in the know told ET, adding that the timelines may change. Ola Electric did not reply to ET’s emailed queries till press time Tuesday. Mahindra, Piaggio and Bajaj price their electric autorickshaws in a range of ₹2.0 lakh to upwards of ₹3.5 lakh, depending on the model and addons. According to government transport website Vahan, more than 580,000 electric three-wheelers were sold last year, 66% higher than in 2022. Raahi, which means traveller in Hindi, is part of a string of launches Ola Electric has planned in the run up to its initial public offering. The firm filed a draft red herring prospectus (DRHP) in December last year, and is looking to raise up to Rs 5,500 crore through a fresh issue, apart from an offer for sale of 95.2 million shares by existing investors. Ahead of the IPO, Ola Electric has also been trying to further strengthen its position in the electric two-wheeler segment, where it is the market leader. In February, the company extended the battery warranty for all its variants of scooters to eight years. The firm said that it would set up 10,000 fast-charging points by the end of the next quarter, sell portable fast chargers to customers, and expand its service centre network from the current 400 to 600 by April. It had also listed a four-wheeled vehicle as an “intangible asset under development” in its draft IPO papers. Ola Electric has been working on opening its gigafactory — which the firm will use to manufacture its own battery cells — by the end of this quarter, founder and chief executive Bhavish Aggarwal said in February. It plans to allocate Rs 1,226 crore from the projected IPO proceeds for the gigafactory. The Bengaluru-based firm held a 41% market share in the electric scooter segment as of February, when it sold 33,722 units, according to data from the Vahan website. Competitors TVS Motor, Bajaj Auto and Ather Energy held 17.7%, 14.2% and 11%, respectively, of the market." Full report: https://lnkd.in/giYQjNYr

[NEWS] GM refines its EV strategy while leaning on core strengths: At its 2024 investor meeting, General Motors painted a rosy picture of its future outlook – The automaker touted the performance of its gas and diesel-powered vehicles and laid out a general roadmap for producing EVs profitably at scale. Yet – that doesn’t mean everything’s going as planned. GM’s original EV production target has been cut twice this year – down to 200K from 300K. The next step? Slashing battery costs and tightening up fixed expenses. Plus – the company is ditching its “Ultium” brand in favor of a more flexible battery strategy. Meanwhile, to automaker is also sticking with what works: gas and diesel. The company has eight new SUVs in the pipeline, aiming to keep profits flowing while it sorts out the EV playbook… Read today’s top automotive stories, presented by Edmunds: https://lnkd.in/ec4wMTX3 (Data source: General Motors)

Vinfast, an electric vehicle manufacturer, recently shared quarter 3 delivery results and a November 26 date for releasing quarter 3 financial results. The results included the delivery of 21,912 electric vehicles in Q3, with 9,300 delivered to Vietnam in September. According to VinFast, deliveries in quarter 3 show a “66% increase quarter-over-quarter and a 116% increase year-over-year.” In quarter 2, the company delivered 13,172 electric vehicles, logging a 33% quarter-over-quarter revenue increase and a 9% year-over-year increase, with $357 million in revenue. The company trades under the VFS ticker symbol on NASDAQ at around $4.10 per share. Current vehicle models in Vietnam include the VF e34, VF 3, VF 5, VF 6, VF 7, VF 8, and VF 9. Credit: VINFAST

The Electric Vehicle Conundrum: Are Chinese Discounts Too Good to Be True? https://ift.tt/ecTsx2I On August 8, TMT Motors, the assembler and distributor of the Wuling Mini EV in Vietnam, announced a price adjustment for two versions: LV2-120 and LV2-170. The LV2-120 version received a price cut of VND 58 million, from VND 255 million to VND 197 million (a reduction of 22.7%), while the LV2-170 version was reduced by VND 48 million, from VND 279 million to VND 231 million (a decrease of 17.2%). This strategic move by TMT Motors and its partner, SGMW, is aimed at making these mini electric vehicles more affordable and accessible to Vietnamese consumers, ultimately boosting sales in the latter half of the year. Wuling Mini EV experiences a 17-22% price reduction in the Vietnamese market. However, this decision also has its drawbacks. For those who already own the vehicle, the news of a significant price drop can be disheartening, as the value of their car has suddenly decreased by a substantial amount. Furthermore, if they decide to resell their car, they will likely face even lower prices due to the new pricing standard set by the manufacturer. On the other hand, potential buyers may not be eager to make an immediate purchase. Some may choose to wait, anticipating further reductions, while others may develop a sense of distrust in the product. Interestingly, this pricing strategy mirrors the approach taken by another Chinese electric vehicle giant, BYD, in the Chinese market, which sparked outrage among consumers there. In early July 2024, BYD announced new pricing for its electric vehicles sold in Thailand. The Atto 3, their flagship model in Thailand, saw a price reduction of THB 90,000–340,000 (VND 57.8–218.2 million). Another model, the Dolphin, also underwent consecutive price cuts, leaving consumers confused and frustrated. BYD’s aggressive price cuts in Thailand sparked consumer outrage. The situation in Thailand escalated to the point where consumers filed complaints, prompting the Thai government to instruct the Office of the Committee on Consumer Protection to investigate BYD’s pricing maneuvers. “While price adjustments are not uncommon in the Vietnamese automotive market, especially during challenging sales periods or when a company needs to meet certain targets, frequent and drastic reductions can be detrimental,” said Mr. Hoang Cuong, a Vietnamese automotive expert. He added, “For a new brand trying to establish trust with consumers, such tactics might end up doing more harm than good.” Wuling, which enjoyed success in China with the Mini EV, initially faced a similar challenge in Vietnam, where its pricing was considered less than appealing. The company responded by lowering the price, and now BYD seems to be following a similar strategy, offering prices that some deem “not yet easily accessible.” BYD’s pricing for the Atto 3, a B+ urban SUV, ranges from VND 766 million to VND 886 million. The ...

Some automakers delaying EVs and focusing on PHEVs and hybrids. Yet, EV Q1 2024 sales are up 25% vs. Q1 2023 and global EV 2024 sales are projected to increase by 20% and significantly leap up in 2025. Many automakers have painted themselves in a corner, assuming a slump in EV demand attributable to high EV median prices and concern of insufficient charging infrastructure. There may have been a short-lived EV sales speed bump, but not a slump. Not taken into account by many automakers are Chinese EVs entering the North American and European markets are destined to lower EV median prices across the EV sector. A survey of Americans indicated 76% of those under 40 would be inclined to buy a more affordable priced Chinese EV. Equally important, much of North American EV and battery production capacity still under construction has curtailed availability of more affordable EV models. The Hyundai and Kia plant in Georgia will start production in October 2024, and other production launches are on the short-term horizon. The combination of more affordable prices; incrementally longer ranges; greater EV production capacity; 95% EV battery recyclability; technological battery advancements from less critical minerals to no critical minerals, along with better reliability; together with significant increases in the numbers of charging points, will ultimately confirm 2024 and 2025 sales growth projections, 20% and steep climbs, respectively, and beyond. https://lnkd.in/d9D7g7WS

“TOP 40 ELECTRIC THREE-WHEELER MANUFACTURERS IN INDIA IN MAY 2024” Here are some of the details in the list: Mahindra Last Mile Mobility is the leading manufacturer of electric three-wheelers in India, with sales of 24,855 units between January and May 2024. YC Electric Vehicles is in second place with sales of 16,766 units. Saera Electric Auto is in third place with sales of 11,080 units. Other notable manufacturers on the list include Bajaj Auto, Dilli Electric Auto, and Piaggio Vehicles. Electric three-wheeler sales have been growing rapidly in India in recent years. According to Autocar Professional, sales of electric three-wheelers reached record levels of nearly 632,500 units in FY2024, an increase of 57% from the previous year. This growth is being driven by a number of factors, including government incentives, rising fuel prices, and increasing awareness of the environmental benefits of electric vehicles. Electric three-wheelers are used for a variety of purposes, including passenger transportation, goods transportation, and rickshaws. There are two main types of electric three-wheelers: low-speed electric three-wheelers (L5E-3W) and high-speed electric three-wheelers (H3W). L5E-3Ws have a maximum speed of 25 km/h and do not require a driver's license to operate. H3Ws have a maximum speed of 40 km/h and require a driver's license to operate. The Indian government is committed to promoting the adoption of electric vehicles. In 2019, the government launched the Faster Adoption and Manufacturing of Electric Vehicles in India (FAME) scheme, which provides subsidies for the purchase of electric vehicles. The FAME scheme has been credited with helping to boost sales of electric vehicles in India. Mahindra Last Mile Mobility|Yc Electric Vehicle|Saera Electric Auto Ltd.|Bajaj Auto Ltd|DILLI ELECTRIC AUTO PRIVATE LIMITED|Piaggio Vehicles Pvt. Ltd.| Mini Metro|Omega Seiki Mobility| HOTAGE CORPORATION INDIA|Atul Auto Ltd.|JS Auto Electrics|Thukral Electric Bikes| e-rickshaw|Allfine industries private limited|@atul ev |Electrical Vani |Lectric EVs|Terra Motors Corporation|GK RICKSHAW PVT. LTD.|Euler Motors Visit: www.telioev.com Like, Comment & follow TelioEV Book a demo today! Email us at: info@telioev.com #evcharginstation #ev #evinnovation #evupdates #3ev #ElectricVehicles #GreenFuture #SustainableTransportation #evcharging

October’s auto market saw plugin EVs take 30.2% share in the #UK, up from 24.9% year on year. Both BEVs and PHEVs grew in volume, whilst the overall auto market shrank. Overall auto volume was 144,288 units, down 6% YoY, and slightly below pre-2020 norms. The UK’s leading BEV brand in August was #Volkswagen, with 9.6% share of the BEV market. October’s sales totals saw combined plugin EVs take 30.2% share in the UK, with full electrics (BEVs) taking 20.7%, and plugin hybrids (PHEVs) taking 9.6%. These compare with YoY shares of 24.9% combined, 15.6% #BEV, and 9.3% #PHEV. With healthy BEV share, and decent performance of PHEVs, the UK’s combined plugin share hit the highest level seen since December 2022 (when #Tesla made an unprecedentedly massive push). This is good news and bodes well for even higher ground in November and December (especially as the deadline to meet the 22% ZEV mandate draws near). Diesel share (including #MHEVs) has been weak, hovering just over 6% (on average) for the past 7 months, with only diminishing prospects for the future. Year to date diesel share is at 6.4%, compared to 7.6% at this point last year. Share is trending to hit 3% around 4 years from now. Unlike #Norway, where diesel sales continue to persist at a very low level, due concerns about the harsh northern conditions, the UK has no extreme use cases that point to diesel as the habitual answer. With battery technology further advancing over the next few years, BEVs — or at least PHEVs and EREVs — will likely reliably handle any practical driving task in the UK. Petrol share (including MHEVs) is coming perilously close to dipping under the 50% mark on a permanent basis. The past 5 months have seen an average of 50.7% share, and slowly trending down. We can expect this to dip below 50% in the next two months, perhaps temporarily recover in H1 2025, and stay below 50% thereafter. By this point next year, combined petrol and diesel will likely be dipping below 50% for the first time. Leading BEV Brands After Tesla’s big push in September, the brand took a back seat in October, allowing Volkswagen to take the top spot, with 9.6% share of the UK BEV market. In second place was #Mercedes, with 8.2% share, just ahead of #Peugeot, with 8.1% share. This is a record performance for Peugeot, its first ever time in the UK’s top 3 spots. Obviously Tesla’s October absence helps, but Peugeot has anyway recently been performing strongly, taking 7th in July, 4th in August, and 5th in September. Let’s see if this can be sustained over a longer period. #Skoda also had a relatively strong month, with the Skoda Enyaq reportedly taking the top BEV model spot with somewhere over 1450 units. With still only one BEV model on sale, Skoda must now bring their next BEV to market, and the company plans to do so with the Elroq (a Niro-sized SUV) sometime early in 2025. It is already being fanfared on Skoda’s UK website.

Fraser Brown of MotorVise (Automotive) Ltd outlines how the market share of battery electric vehicles (BEV) is shrinking rather than growing, which presents both dealerships and manufacturers with a major headache. #automotiveindustry #electriccars #ev #dealerships #carsales #cardealerships #bev

UK sells its millionth electric car, fleet market drives BEV demand: … year saw 142,876 new cars registered, an increase of 10 …  2023 performance of 16.5%. Plug-in hybrids (PHEVs) recorded volume growth of … the cost of the previous Plug-in Car Grant and would put more …  – rather than petrol or diesel – cars on the road by the … #car #cars #awesome

In March, the registrations of two-wheeler electric vehicles (EVs) surged to a record-breaking 1.36 lakh units, marking a remarkable 65% increase from February's 82,500 units. Ola Electric led this surge by registering 50,538 EVs, compared to 33,923 units in February. Ather Energy also saw a significant 90% month-on-month increase to 17,204 units, narrowing the gap with third-placed Bajaj Auto. This surge in registrations has pushed the total two-wheeler EV registrations past the 1 lakh mark for the first time, reflecting the rising interest and adoption of EVs in the country. Ola Electric, with a total of 1.20 lakh registrations in Q4 FY24 alone, highlighted the success of its scooter portfolio. Meanwhile, TVS Motor and Bajaj Auto also experienced notable growth in escooter registrations, further contributing to the overall surge in EV registrations. Ather Energy, despite facing market share challenges, witnessed a resurgence with new product launches and market strategies. Hero MotoCorp also demonstrated growth with a 151% increase in escooter registrations. Other players like Okinawa Autotech, Revolt, and Ampere Vehicles also saw positive momentum in registrations. Despite challenges and controversies around FAME-II subsidies, the EV industry continues to grow, supported by new government schemes like the Electric Mobility Promotion Scheme 2024. Total EV registrations across categories surpassed 2 lakh units in March, indicating a promising trajectory for the electric mobility sector in India.