Sajjan Kumar’s Post

NeUp Auto | Ola Electric today announced its first quarterly results post listing - Company’s revenue grew by 34.32% to ₹1,718 Cr for the quarter ended 30th June 2024, up from ₹1,279 Cr for the quarter ended 30th June 2023. - ⁠The company has registered its highest ever quarterly revenue during the quarter ended 30th June 2024. - ⁠Automotive segment nearing EBITDA breakeven - Ola Electric’s Automotive Segment inches closer to breakeven with an EBITDA margin of (1.97)% for the quarter - Registers its highest ever quarterly Revenue of ₹1,718 Cr in Q1 FY25 with 48.63% market share - ⁠Company announced the integration of its cells in its own vehicles Q1 FY26 - Company to launch its electric motorcycle portfolio across mass and premium segments during its annual flagship event on August 15, 2024 - The quarter witnessed the highest ever deliveries of vehicles by the Company at 1,25,198 units as against 70,575 units delivered in the same period last year. - The company ramped up deliveries of its mass market scooter portfolio (S1 X portfolio) during the quarter which helped accelerate growth. The existing product portfolio (S1 Pro, S1 Air, S1 X+) also saw strong demand which continued growth momentum throughout the quarter. - Company’s Automotive segment (E2W) posted a strong improvement in EBITDA margin and is close to EBITDA breakeven. Automotive segment EBITDA margin for the quarter was (1.97)%, up 632 bps YoY from the (8.29)% EBITDA margin for the quarter ended 30th June 2023. - Company posted Adjusted Gross Margin of ₹377 Cr for the quarter ended 30th June 2024. The Adjusted Gross Margin stood at 21.94% of Revenue, up 873 bps YoY from 13.21% for the same quarter last year. The increasing scale of operations has benefited the company in the form of lower manufacturing costs and supply chain optimizations. - These benefits of scale are further amplified by the company’s scalable platform-based product development and manufacturing technology that results in high degrees of commonality across its products. - Ola Electric is set to host its annual mega conclave – ‘संकǐप’ (Sankalp) on August 15, 2024 at the Futurefactory, Krishnagiri in Tamil Nadu. The company today announced the integration of its cells in its own vehicles by Q1 FY26. During its flagship event tomorrow, the company will also launch its much awaited electric motorcycle portfolio across mass and premium segments.

"The Indian electric two-wheeler segment posted highest monthly sales in March 2024 over the year earlier period, with top four original equipment manufacturers (OEMs) accounting for more than 50% of total sales, according to Vahan portal. Ola Electric, TVS Motor, Bajaj Auto and Ather Energy cumulatively sold 1.12 lakh out of 1.36 lakh units. The new entrant Kinetic Green sold almost 4,000 units and secured sixth slot among the top 10 players, said industry sources. In the comparable period, the top 10 OEMs, barring Kinetic Green, sold 93,000 vehicles. Ola Electric recorded highest monthly sales for the fifth consecutive month at over 53,000 scooters. The market leader achieved a YoY growth of 115% in FY24 with 328,785 units. In Q4, it grew by 42% with 119,310 units, it said in a statement. TVS Motor Company stood in the second position by retailing 26,466 units against 16,901 units. In the coming months, the company is planning to roll out several new models ranging from 5 to 25 kilowatts. Bajaj Auto climbed up a rank to be in the third slot with 17,900 units, marking a new high of 711%, due to production ramp up and expanded dealers network, while Ather Energy grew by 42% to 17,204 units and occupied fourth place. Hero Motorcorp sold 4,380 units. Bgauss Auto and Greaves Electric Mobility sold over 3,000 units each. While the FAME II subsidy for two wheelers came to an end on March 31, the Centre has announced Electric Mobility Promotion Scheme 2024 that came into force from April to July." https://lnkd.in/gCN4J2ab

Drivers prefer manufacturers that support EV sales A majority of drivers in the UK, France, India and Indonesia want their car brand to support policies to increase EV sales and phase out ICE, according to a new poll. The study, conducted by Dynata surveyed a representative sample of 1,000 drivers in six countries – USA, UK, France, India, Indonesia, Japan – to get fresh insights on their attitudes towards automakers’ role in the Electric Vehicles (EV) transition. It found that the majority of drivers want OEMs to support policies to increase EV sales in the UK (58%), France (51%), India (86%) and Indonesia (83%). Read the full story on the Transport + Energy website: https://lnkd.in/eihEUsDe Dynata , New AutoMotive , Ben Nelmes Society of Motor Manufacturers and Traders (SMMT) , Mike Hawes , Sukky Choongh (she/her) , Emma Butcher EVA England , Gill Nowell FairCharge , Quentin Willson Auto Trader UK , Ian Plummer REA , Matthew Adams , Mark Constable ChargeUK , Vicky Read , Chris Pateman-Jones Women Drive Electric , Michelle Breffitt , ⚡️George Thurman 🔋 The AA , Edmund V King OBE BVRLA , Toby Poston RAC , Simon Williams JLR , Murray Paul #transport #energy #electricvehicles #manufacturers

The shift to electric mobility in India faces significant hurdles, according to a Bernstein research report. It highlights challenges in achieving profitable margins and scaling within the electric vehicle (EV) segment, even with considerable financial incentives. Many traditional automakers are currently operating at a loss, with only a few expected to remain viable long-term. The report states that the Indian EV industry heavily relies on incentives to compete with the internal combustion engine (ICE) sector. To disrupt this market, the EV segment must focus on scalability and cost reductions. While some niche startups may survive, competition will primarily be among established original equipment manufacturers (OEMs). Among two-wheeler manufacturers, Bajaj Auto and TVS Motors are well-positioned in the EV sector, whereas Hero MotoCorp lags behind. Eicher Motors is set to launch EVs soon but may struggle with market relevance. Bernstein rates Bajaj Auto as "Outperform" due to favorable valuations, while TVS, Hero, and Eicher receive a "Market Perform" rating. Ola Electric has achieved positive operating earnings from its premium models but incurs losses on its mass-market offering. The report notes that the overall EV two-wheeler industry in India generates approximately USD 1.3 billion in annual revenue but suffers significant EBIT losses without government support. The industry's future relies on sustained incentives, larger operational scales, and ongoing cost reductions to effectively compete against traditional ICE vehicles. #MotiveAsia #India https://lnkd.in/gYt7rKiX

🔌⚡️ 𝐄𝐋𝐄𝐂𝐓𝐑𝐈𝐂 𝐕𝐄𝐇𝐈𝐂𝐋𝐄 𝐒𝐀𝐋𝐄𝐒 𝐑𝐄𝐏𝐎𝐑𝐓 🛵🛺 📊 Sales Report: April 2024 Total units sold - 1,14,914 🔌⚡️ 𝐄𝐋𝐄𝐂𝐓𝐑𝐈𝐂 𝐓𝐖𝐎-𝐖𝐇𝐄𝐄𝐋𝐄𝐑 𝐒𝐀𝐋𝐄 ⚡️🛵 Units Sold: 65,057 📉 Change from Typical April Trend: Lower than usual 🚫 Reasons for Decline: Slow start of the new fiscal year 📉 A recent reduction in government subsidies leading to price hikes from manufacturers (TVS Motor Company, Bajaj Auto Ltd, Ather Energy, Hero MotoCorp) 💸 🌟 𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐓𝐡𝐫𝐞𝐞-𝐖𝐡𝐞𝐞𝐥𝐞𝐫 𝐒𝐀𝐋𝐄! 🛺🌟 📈 The electric revolution continues! In April 2024, sales of Electric Three-Wheelers (E3Ws) in India soared to 42,032 units, marking an 8% year-over-year increase. 🚀 This growth showcases the unwavering momentum of E3Ws within India's electric vehicle (EV) market. 🔋 Despite a more measured rise compared to previous years, E3Ws remain a powerhouse in Indian EVs. Passenger electric rickshaws lead the charge, constituting nearly half of all three-wheeler sales! 🛺 This surge reflects India's shifting gears towards sustainable mobility, with E3Ws steering the way forward. 𝐄𝐋𝐄𝐂𝐓𝐑𝐈𝐂 𝐂𝐀𝐑 𝐒𝐀𝐋𝐄 surged by a remarkable 22%, totaling 9,046 units, setting the stage for an electrifying new fiscal year! 🏆 Leading the charge, Tata Motors stole the spotlight, commanding a whopping 71% market share with sales of 4,893 units. 🚀 But they're not alone in this eco-revolution! MG Motor India and Mahindra followed suit with 12% and 9% market shares respectively, further amplifying the electric momentum. 💼 Luxury brands also joined the eco-party, securing a 3.42% share, selling a combined total of 225 units. It's a clear sign that sustainability is the new standard, no matter the segment! The new 𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐌𝐨𝐛𝐢𝐥𝐢𝐭𝐲 𝐏𝐫𝐨𝐦𝐨𝐭𝐢𝐨𝐧 𝐒𝐜𝐡𝐞𝐦𝐞 (𝐄𝐌𝐏𝐒), valid for a four-month period from April 1 to July 31, 2024, has a total outlay of Rs 500 crore and aims to support the purchase of 372,000 EVs including 333,000 two-wheelers and 38,828 three-wheelers (L5 category). While e-two-wheelers get a subsidy of Rs 5,000 per kWh with a maximum limit of Rs 10,000 per unit under EMPS, e-three-wheelers can avail a subsidy of Rs 5,000 per kWh with a maximum limit twice that of two-wheelers at Rs 10,000 per unit. Let's power up for a brighter May ahead! #evnews #EVUpdates #evsales #ElectricMobility #SustainableFuture #TwoWheelers #gyaniki Register on #gyaniki for latest #EVupdates and #technical information on #futuremobility www.gyaniki.com

"In August, total EV (electric vehicle) registrations dropped to a 14-month low, showing a decline month-on-month and year-on-year. Both electric two- and three-wheelers saw lower volumes compared to this July. However, electric three-wheelers outpaced electric two-wheelers in terms of volumes during the last month. Total electric vehicle (EV) registrations (all segments put together) in August reported a 17 per cent decline at about 1.06 lakh units when compared with 1.28 lakh units in July, according to Vahan data (as of September 1). The electric two-wheeler segment saw a marked decrease in sales, with registrations dropping to 46,085 units in August, down from 61,498 units in July and 62,646 units in August 2023. The electric three-wheeler segment managed to outpace two-wheelers, registering 54,861 units in August 2024, although this was still lower than the 59,151 units in July and the 56,581 units recorded in August 2023. In the electric two-wheeler market, market leader Ola Electric’s scooter volumes fell to 12,628 units in August, down from 18,602 units in July. TVS Motor retained its position as the second-largest seller with 9,514 units, though this decreased from the 11,555 units sold in July 2024. Bajaj Auto’s sales also dropped, with 4,899 units in August compared to 7,797 units in July. Similarly, Ather Energy’s sales declined to 4,278 units from 6,076 units, Hero MotoCorp saw a dip to 4,742 units from 5,060 units, and Greaves Cotton recorded sales of 2,816 units, down from 3,158 units. In the electric three-wheeler segment, Mahindra Electric Mobility led the market with over 4,500 units sold in August, though this was a decline from the 6,504 units sold in July. Bajaj Auto followed with 4,030 units, up from 3,694 units in July. YC Electric Vehicle sold 3,545 units, slightly down from 3,651 units, while Piaggio saw sales drop to 1,558 units from 1,959 units. TI Clean Mobility, the electric vehicle arm of the Murugappa Group, sold about 598 units in August, up slightly from 580 units in July. Electric car registrations also experienced a decline, falling to 4,755 units in August from 6,855 units in July." https://lnkd.in/gTHheeEQ

You will be shocked to hear this : Kia cars have one of the lowest maintenace cost in the industry today - endorsed by none other than Frost & Sullivan ! Pls read on, if you don’t believe it ! Frost & Sullivan's latest analysis shows that Kia's #Seltos and #Carens offer segments' lowest maintenance expenses in both diesel and petrol variants. Carens offers maintenance costs 21% and 26% lower than the segment average for both petrol and diesel variants, respectively. Seltos petrol variants offer lowest maintenance cost in its segment, 17% lower than the segment average. #Sonet Petrol’s and Diesel’s maintenance cost are 16% and 14% lower than the segment average, respectively. #KiaIndia #maintenancecost #segmentaverage #autoindustry Shakti Upadhyay PARAMJIV DUTTA Arun Yadav Ravi Nayyar

Read the full article: https://lnkd.in/eyEk_gqH Frost & Sullivan's latest analysis shows that Kia's #Seltos and #Carens offer segments' lowest maintenance expenses in both diesel and petrol variants. Carens offers maintenance costs 21% and 26% lower than the segment average for both petrol and diesel variants, respectively. Seltos petrol variants offer lowest maintenance cost in its segment, 17% lower than the segment average. #Sonet Petrol’s and Diesel’s maintenance cost are 16% and 14% lower than the segment average, respectively. Kia India Hardeep S. Brar Ayush Kohli #KiaIndia #maintenancecost #segmentaverage #autoindustry

Kia Models Recognized for Lowest Maintenance Costs by Frost & Sullivan In its latest Total Cost of Ownership Benchmark analysis, Frost & Sullivan, India’s premier Growth Advisory Company, has revealed that Kia’s popular models – Seltos and Carens – boast the lowest maintenance expenses in both diesel and petrol variants within their respective segments. The study highlights the Kia Carens as a frontrunner in the family mover segment, with the most economical maintenance costs for both petrol and diesel variants, offering savings of 21% and 26%, respectively, over competitors. Particularly notable are the diesel models, which feature the lowest acquisition cost, making them a highly attractive option for discerning customers. Furthermore, […] - https://lnkd.in/dfmmbz7F #automotive #evs #ev #electricmobility #emobility #ebikes #fleets #evfleet #evnews #autonews #electricvehicles #electricvehicle #automotiveindustry #automotivejobs #cleantech #cleanenergy #hydrogen #lithium #evbattery #sustainability #climatechange #carens #frost&sullivan #india #kia #kiaseltos

According to the latest Frost & Sullivan report, Kia cars are leading the pack with the lowest cost of maintenance in the segment. Not only that, but with the implementation of the new SI 2.0 showrooms, our standard of service is now comparable to any luxury cars out there. #kia #LowMaintenance #PremiumService #Reliability #Value #AutomotiveExcellence #kiaindia