Tag: electric vehicles

Xiaomi SU7 Deliveries Set to Begin in China Amid Brutal Price War

China’s Xiaomi said on Tuesday it will start deliveries of its first electric vehicle (EV) model SU7 this month, venturing into the world’s largest auto market amid a brutal price war.

The smartphone maker, China’s fifth-largest, said in a Weibo post it has 59 stores in 29 cities nationwide that will take orders. A launch event is scheduled for March 28 when the new EV’s sticker tag is expected to be announced.

Xiaomi’s shares rallied 7% during morning trade.

China’s EV sales climbed 18% in January-February, not too far off 21% growth seen for all of 2023. This year has seen a round of deeper price cuts led by market leader BYD to woo consumers amid weakening domestic demand.

At the unveiling of the Speed Ultra 7 (SU7) sedan in December, Chief Executive Lei Jun said Xiaomi plans to become one of the world’s top five automakers.

The SU7, Lei touted, has “super electric motor” technology capable of delivering acceleration speeds faster than Tesla and Porsche’s EVs.

Analysts say the car’s shared operating system with Xiaomi’s popular phones and other electronic devices will appeal to the company’s existing customers.

Xiaomi has been seeking to diversify beyond its core business to EVs amid stagnating demand for smartphones – a plan it first flagged in 2021.

Its cars will be produced by a unit of state-owned automaker BAIC Group, in a Beijing factory with an annual capacity of 200,000 vehicles.

The smartphone giant has pledged to invest $10 billion in autos over a decade and is one of the few new players in China’s EV market to gain approval from authorities who have been reluctant to add to a supply glut.

© Thomson Reuters 2024

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

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Tata Motors Announces First EV Price Cuts in India; Electric Car Prices Lowered By Up to 8 Percent

Indian automaker Tata Motors’ electric vehicle (EV) unit on Tuesday said it has reduced prices of its cars by up to 120,000 rupees (~$1,450) in what is the first instance of a price cut by an electric carmaker in the country.

Electric variants currently form just 2% of car sales in India, as buyers are wary about the higher upfront costs despite lower running costs and as range anxiety persists.

“With battery cell prices having softened in the recent past and considering their potential reduction in the foreseeable future, we have chosen to proactively pass on the resulting benefits directly to customers,” said Vivek Srivatsa, Chief Commercial Officer at the TPG-backed Tata Passenger Electric Mobility.

The price of the top-selling Nexon.ev is now down 1.4% to 1.45 million rupees. Prices previously began at 1.47 million rupees, according to Tata’s website.

The company, which dominates EV car sales in India, also cut the price of its electric small car Tiago by 70,000 rupees. The base version now costs around 8.1% lower at 799,000 rupees.

Launched in 2020, the Nexon.ev was India’s cheapest electric SUV until the launch of Tata’s Punch EV at 1.2 million rupees in 2024.

EV sales have slowed globally as well, with U.S. carmaker Tesla leading a price-cut war to maintain its sales lead over rivals such as China’s BYD.

“Tata’s price cut in India could prompt its rivals to also price their cars more competitively and launch newer EVs at aggressive prices,” said Jay Kale, Vice President, Elara Capital.

However, this is in stark contrast to India’s EV two-wheeler market, in which IPO-bound Ola Electric and Hero-backed Ather are locked in a price war.

Tata, which began EV-only dealerships in September, plans to have 10 electric cars in its portfolio over the next three to four years. It also aims to bring up EV sales to 25% of its total car sales by 2025 from 9.3% in fiscal 2023.

Shares of Tata Motors, which competes with the likes of Mahindra and MG Motor, fell as much as 1.9% after the announcement.

© Thomson Reuters 2024

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Xiaomi EV Technology to be Showcased at Company’s December 28 Stride Event

Xiaomi has confirmed that the company will soon unveil its EV or electric vehicle technology. The Beijing-based firm is currently known to be one of the world’s leading smartphone manufacturers. The company said in 2021 that it would enter the electric vehicle market, with the debut of its first such vehicle expected for 2024. Earlier this year, an electric vehicle from the company, codenamed ‘Modena’, was seen being tested in cold, snowy terrains. The upcoming launch event will, however, not see any product reveal.

Xiaomi announced in a post on X that Xiaomi’s EV Technology will be unveiled at the Stride launch event to be held on December 28 at 2 pm Beijing time (11:30 am IST). Lei Jun, Xiaomi founder and CEO, claimed that Xiaomi EV aims to integrate “automotive, consumer electronics, and smart ecosystems” and, therefore, redefine the technology of the automotive industry. He also clarified that the December event will only showcase EV technologies and not introduce any products.

The company reportedly won the approval of China’s National Development and Reform Commission (NDRC), the body which regulates investments and production capacity in the country’s auto industry, to manufacture electric vehicles (EVs). Xiaomi pledged to invest $10 billion (roughly Rs. 82,700 crores) in this sector spanned across a decade. It planned to mass-produce its first set of cars within the first half of 2024.

In January this year, the testing of an EV model by Xiaomi, codenamed ‘Modena’ in China’s Inner Mongolia Autonomous Region, was spotted, which was supposedly a test of the vehicle’s battery performance in extreme cold conditions. The company had confirmed previously that it hired over 500 experts from around the world to develop the in-house autonomous driving technology.

The images seen in the testing of the Xiaomi Modena show the EV as a sedan with an aerodynamic shape, with a long hood and a swooping roofline that drops gently towards the back of the car. It also showed retractable door handles and LiDAR sensors on the roof of the vehicle.

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Reliance Showcases Multipurpose, Swappable Batteries for Electric Vehicles

Reliance Industries showcased its swappable and multipurpose battery storage technology for electric vehicles (EVs) on Wednesday, as it makes a big push on clean energy.

Reliance, led by billionaire Mukesh Ambani, displayed removable and swappable batteries for EVs that can also be used to power household appliances through an inverter at a renewable energy exhibition.

The idea is that a person can use one battery for mobility as well as for powering appliances at home, company executives at the event said, requesting not to be quoted as they are not authorised to speak with media.

The batteries can be swapped at Reliance’s battery swap stations or re-charged by households using rooftop solar panels, which also it plans to sell, the executives added. The executives did not clarify when the company planned to start selling these batteries.

Development of battery storage solutions is a part of Reliance’s bigger $10 billion green push towards clean energy projects. The company aims to cut dependence on its mainstay oil-to-chemical business and be net zero carbon by 2035.

The company acquired two battery companies for about $200 million in 2021 and 2022, respectively — UK-based Faradion that makes sodium-ion batteries, and Lithium Werks, that produces lithium iron phosphate (LFP)batteries. Reliance displayed LFP chemistry-based battery at the exhibition.

A company presentation at the event showed it is also working on customisable batteries for business and individual usage, intelligent swap stations and integrated charging networks. Reliance doesn’t plan to get in to EV manufacturing but will partner with EV makers, the presentation showed.

Reliance won an incentive last year to set up a 5-gigawatt hours (GWh) battery manufacturing facility under the government’s $2.4 billion programme that aims to boost local battery cell production.

The factory will be set up by 2026 and will make batteries and containerised energy storage solutions.

Clean auto technology is central to the country’s strategy of cutting pollution in major cities and reaching its broader climate goals. Electric vehicles currently make up a fraction of total sales in the country, mainly due to their high price as the batteries are imported, and a lack of charging infrastructure.

The government is trying to encourage swappable batteries to bring down costs and promote wider adoption of EVs.

© Thomson Reuters 2023

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Micromax Exploring Electric Vehicle Venture Following Decline in Smartphone Sales, Layoffs: Report

Micromax is looking to enter the electric vehicle manufacturing space in India, according to a report. The New Delhi-based phone manufacturer has faced stiff competition from Chinese brands in the country and reportedly laid off employees across the country, while senior executives have also exited the firm. The developments — including efforts to start making EVs in the country that would compete with offerings from Ather Energy, Matter Aera, and Ola Electric — come after Micromax has seen smartphone shipments continue to decline in the country.

According to a TechCrunch report, Micromax’s layoffs and the exit of its top executives including the Chief Product Officer and Chief Business Officer over the past few months are a result of the company’s attempts to foray into the EV manufacturing sector. Co-Founder Vikas Jain — who replaced Co-Founder Rahul Sharma as Managing Director after he resigned in April 2021 — has also departed the firm as per the report.

The smartphone maker became the top smartphone maker in India in August 2014 when it dethroned market leader Samsung. Back in 2014, the company had announced that it would offer smartphones running on Microsoft’s mobile operating system in addition to Android smartphones. The firm was also the 10th largest phone brand a year later. However, the arrival of Chinese smartphone makers like Xiaomi, Oppo, and Vivo and their competitive pricing led to the brand struggling to retain its popularity in the country in subsequent years.

In February, the company’s founders Rajesh Agarwal, Sumeet Kumar, and Vikas Jain formed a new firm with the name Micromax Mobility, according to the report, which cites three former employees who state that the new venture will initially focus on two-wheeler EVs. Two sources also told TechCrunch that the firm is revamping an office in Gurugram as part of its efforts to foray into the mobility sector.

While Micromax is yet to make a formal announcement related to its plans, its purported EV venture would compete in a busy market that includes popular brands such as Ather Energy, Matter Aera, and Ola Electric. The four-wheeler EV segment already includes several other brands such as Tata, Hyundai, MG, Maruti, and BYD that offer a range of vehicles at different prices in the country.

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Mobec Launches Doorstep EV Charging Solution; Service to Roll Out in Delhi-NCR Initially

Startup electric mobility solutions provider Mobec Innovations on Wednesday announced its service of offering charging facilities for electric vehicles at customers’ doorstep.

Initially, the service will benefit over 2 lakh electric vehicle (EV) users across Delhi-NCR. It can be booked through the company’s app, Mobec Innovations said in a statement.

By the end of the first quarter of FY23-24, the company plans to expand operations to Tier-I cities, including Bengaluru, Hyderabad, Lucknow and Jaipur, among others, it added.

The company received a strong response from consumers across Delhi-NCR, Mobec Innovations Founder and CEO, Harry Bajaj said.

“Based on this, we have taken a calibrated step to invest in the top metro cities that at once resolve the challenges of accessibility, availability and infrastructure insufficiency,” he added.

The mobile charging vans are capable of achieving an optimum 80 percent level in a short period of time with the help of fast charge technology, the company said.

Last week, Delhi’s transport department said that the city’s electric vehicle policy, which will complete three years in August, has thus far achieved around 86 percent of its measures and targets.

Delhi transport department and Delhi Electric Vehicle (EV) cell also kicked off the process of drafting a revised ‘Delhi EV Policy 2.0’ with a stakeholder consultation. “The city now has more than 4,300 charging points and 256 battery swapping stations across 2,500+ locations,” N. Mohan, CEO, Delhi EV cell, said at the consultation.

Earlier this month, it was reported that the New Delhi Municipal Council (NDMC) was planning to increase the number of EV charging stations in Lutyens’ Delhi and even provide battery swapping facilities at some of these points.

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Hyundai Ties Up With Shell to Install Fast EV Chargers at 36 Dealerships Across India

Hyundai Motor India on Wednesday said it has tied up with Shell India to install 60 kW fast chargers across 36 of its dealerships in the country.

The company has signed a memorandum of agreement with Shell India Markets in this regard, the automaker said in a statement.

The strategic partnership aims to increase the expansion of charging infrastructure for battery electric vehicles in the country, it added.

“Such strategic partnerships are fundamental in accelerating the adoption of electric vehicles by customers to achieve the national goal of carbon neutrality,” Hyundai Motor India MD & CEO Unsoo Kim said.

Hyundai currently has an existing network of 72 electric vehicle dealers in 45-cities.

Shell India Director Sanjay Varkey said the strategic partnership with Hyundai aims to improve the charging infrastructure for battery electric vehicles in India by offering easy access and dynamic availability for a safe, reliable, and seamless charging experience.

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Croma Apple Days Sale May 2023: Don’t Miss These Great Deals on iPhone, iPad, and MacBook



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Used EV Sales Rise in the US Amid Fall in Prices: Report

Used electric vehicle sales in the United States rose 32 percent in the first three months of 2023 as prices fell, data provider Cox Automotive said on Friday.

The group said the average retail listing prices for used EVs was around $43,400 (nearly Rs. 35 lakh), down 4 percent from the same quarter last year and significantly below the average new EV price of about $59,000 (nearly Rs. 48 lakh).

The group said used EV prices were probably cut due to aggressive price reductions by Tesla for new vehicles.

“As the market leader pushes down prices for new EVs, used-vehicle prices follow suit,” Cox said.

On Thursday, Tesla cut prices in the United States between 2 percent and nearly 6 percent, the fifth such cut this year. Washington will adopt stricter battery sourcing requirements on April 18 that will limit many EV tax credits.

In the first quarter of 2023, more than 2,25,000 EVs were sold, according to initial estimates by Kelley Blue Book, accounting for approximately 7 percent of new-vehicle sales.

On Monday, General Motors said it sold more than 20,000 EVs in the first three months of the year in the United States, the first time it had done so. EVs accounted for about 3.4 percent of GM first quarter US sales.

In August, Congress created a $4,000 (nearly Rs. 3 lakh) used EV tax credit. Buyers must purchase a used EV for $25,000 (nearly Rs. 20 lakh) or less from a dealer to qualify; the maximum credit is 30 percent percent of the sale price up to $4,000.

Used EV buyers adjusted gross income may not exceed $75,000 (nearly Rs. 61 lakh) for individuals or $150,000 (nearly Rs. 1.22 crore) for joint filers.

Cox Automotive forecast this year sales of new EVs in the United States in 2023 will surpass 1 million units for the first time, up from about 807,000 last year or 5.8 percent of all US sales

Cox said wholesale values of used EVs increased by 3.7 percent year over year, compared to the overall decline of 2.4 percent.

© Thomson Reuters 2023
 

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Huawei Partners With More ‘Legacy’ Automakers to Produce Aito-Branded EVs in China

Huawei Technologies is partnering with more legacy automakers to produce Aito-branded electric cars, the company’s senior executive said on Saturday, in a move to expand its presence in the auto industry.

Huawei will team up with Chery Automobile, BAIC Motor and Anhui Jianghuai Automobile Group in jointly developing and manufacturing Aito-branded vehicles, Richard Yu, Huawei’s Smart Car CEO, said at the China EV 100 forum in Beijing.

Huawei, which has already a partnership with Seres Group to make Aito cars, plans a series of models including SUVs, sedans and multipurpose vehicles under the Aito brand, Yu added.

“We’d like to fully use the automakers’ resources of production capacity,” Yu said.

Seres sold a total of 80,000 Aito cars featuring Huawei’s HarmonyOS system – developed by the company as an alternative to Android – in 2022, up more than six times from a year ago, according to company filings.

Huawei’s Chairman Eric Xu reiterated at a press conference on Friday that the company doesn’t make cars on its own but only helps other automakers make better vehicles.

Huawei has been hit by a series of export controls by Washington which says it is a security risk, which the company denies. The sanctions have blocked Huawei from buying key components as well as from using Google’s Android operating system. 

The sanctions have also affected Huawei’s partnerships with global automakers, who have given up using Huawei’s vehicle connectivity technologies in the past two years, Yu said on Saturday.

Tension with the US saw Meng detained for three years in Canada over alleged efforts to cover up attempts by Huawei-linked companies to sell equipment to Iran in breach of US sanctions.

© Thomson Reuters 2023

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BPCL Installs 19 EV Fast-Charging Corridors Along Highways in Karnataka, Kerala and Tamil Nadu

Bharat Petroleum Corporation Limited (BPCL) has announced that it has launched 19 EV fast-charging corridors along 15 highways in Karnataka, Kerala, and Tamil Nadu.

At approximately every 100 km on the corridors, one can find an EV fast-charging station, a top BPCL official said at an event here on Friday. “The fast-charging stations have been installed between 110 fuel stations which have been divided into various electric corridors.” BPCL Executive Director Incharge (Retail) P S Ravi said the company had launched three corridors with 19 fuel stations in Kerala, six corridors with 33 fuel stations in Karnataka, and 10 corridors with 58 fuel stations in Tamil Nadu.

“It takes just 30 minutes to charge an EV, giving a driving range of up to 125 km at our fuel stations. Therefore we have maintained a distance of 100 km between two charging stations,” Pushp Kumar Nayar, Head of Retail in the South, said at the launch.

Ravi said the fast chargers were easy to use and could be self-operated without any manual assistance, even though support staff would be available if needed.

“BPCL has digitised the entire EV charger locator, charger operations, and transaction process through the HelloBPCL app for an online hassle-free and transparent user experience,” Ravi added.

The company has launched EV corridors connecting important religious and tourist destinations with cities, such as Tirupati in Andhra Pradesh and Bandipur National Park in Karnataka, Guruvayoor and Kadampuzha temples in Kerala, Vallarpadam National shrine of Basilica at Kochi, Koratty and Markaz Knowledge City in Thrissur, Kanyakumari and Meenakshi Amman Temple in Madurai among others.

Bharat Petroleum is the second-largest Indian oil marketing company and one of the premier integrated energy companies in India.

Its distribution network comprises over 20,000 energy stations, over 6,200 LPG distributorships, 733 lubricant distributorships, and 123 POL (petroleum, oil, and lubricant) storage locations, 54 LPG bottling plants, 60 aviation service stations, 4 lubricant blending plants and 4 cross-country pipelines.

 

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