Electric Vehicle News - Latest Updates & Headlines
India's oil demand to peak later than in other major economies: S&P Global Commodity Insights
New Delhi, February 8: India's refined crude demand will peak later than in other major economies, placing the country in the spotlight driving this demand, according to S&P Global Commodity Insights.
Punjab replaced 1,200 old diesel autos with electric ones: Minister
Chandigarh, Feb 7: In a significant step towards reducing air pollution, the Punjab government has replaced 1,200 old diesel autos with electric autos, Ravjot Singh, Minister for Local Government, said on Friday.
Ola Electric's loss widens to Rs 564 crore in Q3, revenue drops 19 pc as stock plunges
Mumbai, Feb 7: Bhavish Aggarwal-run Ola Electric Mobility on Friday reported a massive net loss of Rs 564 crore in the third quarter (Q3 FY25), an increase of 13.94 per cent compared to a net loss of Rs 495 crore in the previous quarter (Q2 FY25).
Hyundai to suspend Ioniq 5, Kona Electric production amid slowing EV demand
Seoul, Feb 7: Hyundai Motor will temporarily suspend production of its Ioniq 5 and Kona Electric models, as weakening electric vehicle (EV) demand continues to impact sales, according to industry sources on Friday.
Kerala capital set to become global hub of future mobility: Minister
Thiruvananthapuram, Feb 6: The Kerala capital is well-positioned to become the hub of futuristic automotive technology by leveraging the ecosystem's core capabilities to capitalise on the fast-paced global shift to electric and software-driven vehicles, Revenue Minister K. Rajan said on Thursday.
World shifting to new energy while India clings to outdated policies favouring handful of businesses: Rahul Gandhi
New Delhi, February 6: Leader of Opposition (LoP) in the Lok Sabha and Congress leader Rahul Gandhi on Thursday interacted with a group of students from Nagaland and highlighted the transformative impact of the future of mobility.
Global oil prices likely to stay in $75 to $80 per barrel range over next 6 months: CareEdge
New Delhi, Feb 6: Crude oil prices are expected to remain range bound at an average of $75-$80 a barrel over the next 6 months, essentially on the back of higher overall global crude oil production aided by increase in crude oil production by the US while demand growth is expected to remain relatively subdued in the backdrop of a slowdown in major global economies, according to a CareEdge Ratings report released on Thursday.
For First Time in Israel: Charging Stations for Electric Vehicles on Urban Lighting Infrastructure
Jerusalem, February 6: The city of Jerusalem, in cooperation with the Ministries of Energy and Infrastructure and the Ministry of Jerusalem and Israeli Tradition, and through Eden, the Jerusalem Economic Development Company, inaugurated an innovative project that allows for the utilization of the electricity pole infrastructure spread across the city to add charging sockets for electric vehicles.
India's EV adoption remains nascent compared to global counterparts, but budget support to drive growth: Moody's
New Delhi, February 5: India's electric vehicle (EV) adoption remains in its early stages, lagging behind regional and global counterparts, according to a report by Moody's.
Union Budget 2025 to drive innovation, job creation, and sustainability in manufacturing, say industry players
New Delhi, February 2: The manufacturing sector players have widely praised the announcements made in the Union Budget 2025-26, stating that these proposals will drive innovation, job creation, and sustainability across various manufacturing industries.
Hyundai's US sales jump 15 pc YoY in January
Seoul, Feb 2: Hyundai Motor, South Korea's top automaker, saw its sales in the United States climb 15 per cent from a year ago in January, marking its biggest sales for the month to date, the company said on Sunday.
Union Budget focused on sustained economic growth, will have positive effect: Auto industry leaders
New Delhi, February 1: The Union Budget 2025-26 has garnered a positive response from the auto industry, with industry leaders welcoming the government's "focus on long-term economic growth, manufacturing, and regulatory reforms".
Union Budget has rightly focused on green economy progression: Environmentalists
Kolkata, Feb 1: The good aspect of the Union Finance Minister Nirmala Sitharaman's Budget proposals for the Financial Year 2025-2026 had been the Union government's focus on the country's transition to green economy, feel a section of the green technologists and environmentalists.
Scrapping customs duty on lithium-ion battery to boost EV manufacturing
New Delhi, Feb 1: The scrapping of basic customs duty on the import of lithium-ion battery scrap and capital goods – or the machinery used to manufacture lithium-ion batteries – will strengthen the domestic battery storage ecosystem, the industry said on Saturday.
Hiked Capex, fiscal consolidation and demand push expected from Union Budget 2025-26
New Delhi, February 1: The Union Budget 2025-26 is set to be presented on Saturday, anticipating to strike a balance between economic growth and fiscal prudence while addressing the expectations of taxpayers, businesses, and key industries.
India's 2-wheeler market set to hit new peak next year with 8-10 pc growth
New Delhi, Jan 31: Following an estimated 12-14 per cent surge this fiscal, the India's two-wheeler industry is set to grow by another 8-10 per cent in the upcoming year, a report said on Friday.
Indian automotive sector likely to see 70 pc workforce expansion in H2 FY25
Bengaluru, Jan 30: The Indian automotive sector, which contributes approximately 7 per cent to the country’s GDP, is likely to see 70 per cent workforce expansion in the second half of FY25, a report showed on Thursday.
Two-wheeler industry set for moderate growth in FY26, electrification remains slow: Report
New Delhi, January 29: The two-wheeler (2W) industry has seen a slowdown in growth over recent months, however, analysts expect the sector to expand at a high-single-digit rate in FY26, according to HSBC Global research report.
One in two cars will be electric by 2035, India among countries to lead: Counterpoint report
New Delhi, January 29: One in every two cars will be an electric vehicle by 2035, with fastest growth expected from India, Latin America, Japan, and Southeast Asia, as per a report from Counterpoint Technology Market Research.
Tata Motors' Q3 profit drops 22 pc, EV sales up 19 pc
Mumbai, Jan 29: Tata Motors on Wednesday reported a 22 per cent decline in its net profit for the third quarter (Q3) of FY25 at Rs 5,451 crore, down from Rs 7,025 crore in the same period last fiscal.
HSBC expects India's two-wheeler industry to clock high-single digits growth in FY26
New Delhi, Jan 29: Although the growth in India's two-wheeler industry has moderated in recent months, it is still expected to grow in high-single digits in FY26, according to an HSBC Global Research report released on Wednesday.
1 in every 2 cars to be a battery electric vehicle by 2035: Report
New Delhi, Jan 29: One out of every two cars sold globally is projected to be a battery electric vehicle (BEV) by 2035, a report said on Wednesday.
Honda aims to capture 40 pc of global bike market as India sales fuel growth
New Delhi, Jan 29: Honda Motor Company has announced that for the current fiscal year ending March 31, its global motorcycle unit sales are expected to reach 20.2 million units, which is approximately a 40 per cent share of its global sales.
Hyundai Motor India clocks 19 pc decline in net profit at Rs 1,161 crore in Q3
New Delhi, Jan 28: Hyundai Motor India on Tuesday reported a net profit of Rs 1,161 crore for the October-December quarter this fiscal, which represents a 19 per cent decline over the corresponding figure of Rs 1,425 crore for the same quarter of FY 2023-24.
TVS Motor's net profit declines 6.6 pc in Q3, revenue dips 1.48 pc QoQ
Mumbai, Jan 28: TVS Motor Company on Tuesday reported a 1.48 per cent decline in its revenue from operations for the third quarter (Q3) of FY25 at Rs 11,134.63 crore from Rs 11,301.68 crore in the previous quarter (Q2 FY25).
Madhya Pradesh CM Mohan Yadav discusses investment opportunities with Toyota delegates in Tokyo
Tokyo, January 28: Madhya Pradesh Chief Minister Mohan Yadav met with Toyota delegations in Tokyo on Tuesday and held discussions with them about investment opportunities in the state, highlighting the potential and amenities of the state.
EV Industry eyes tax cuts, financial boosts, and infra upgrades in Union Budget 2025-26
New Delhi, January 27: As the Union government gears for the Union Budget 2025-26, players in electric Vehicles (EVs) have urged Finance Minister Nirmala Sitharaman to introduce transformative reforms that enhance affordability, infrastructure, and innovation in the sector to tackle both manufacturing and consumer-centric challenges.
Budget 2025-26: Income tax payers want FM Sitharaman to cut rates
New Delhi, Jan 26: A pre-budget survey reveals that individual taxpayers want relief on the personal tax front to increase their disposable income in Budget 2025-26 to be presented in Parliament by Finance Minister Nirmala Sitharaman on February 1.
India's used car market to grow 13% annually through 2030: CARS24 report
New Delhi, January 26: India's used car market is projected to grow from 4.6 million sales in 2023 to a whopping 10.8 million by 2030, cruising ahead with an impressive compound annual growth rate (CAGR) of 13 per cent, as per a report by auto tech company CARS24.
EV penetration to surge in 3 yrs with reliable models, competitive prices, and expanding charging network: Axis Capital
New Delhi, January 26: The electric vehicle (EV) penetration will increase in the next three years due to the introduction of more reliable models at competitive price points and the possible growth of the charging network, according to the Axis Capital report.
EVs likely to hit 30-35 pc of annual vehicle sales in India by FY30
New Delhi, Jan 26: The electric vehicle (EV) revolution is in full throttle and EVs could hit 30-35 per cent of annual vehicle sales in India by FY30, though internal combustion engine (ICE) vehicles will still dominate the roads, co-existing with EVs for years to come, according to a new report.
South Korea's unit price of exported cars falls for 1st time in 8 years
Seoul, Jan 26: The unit price of South Korea's exported vehicles last year fell for the first time in eight years amid a prolonged slowdown in electric vehicle (EV) sales, data showed on Sunday.
India's electric car penetration to surge to 9 per cent by FY30: Nomura Report
New Delhi, January 25: The penetration of electric cars in India is projected to rise significantly, reaching 9 per cent by FY30 from the current 2 per cent, according to a report by Nomura. This shift is part of the country's broader transition toward sustainable and eco-friendly mobility solutions.
Electric, Flex-Fuel, and CNG vehicles dominate Indian automotive launches: Report
New Delhi, January 25: The Indian automobile industry is witnessing a remarkable transformation, with electric vehicles (EVs), flex-fuel models, and CNG-powered vehicles taking center stage in recent launches.
Bharat Mobility Global Expo 2025 witnesses net footfall of 9,83,522 visitors across three venues
New Delhi, January 24: The Bharat Mobility Global Expo 2025 witnessed a record-breaking net footfall of 9,83,522 visitors across three venues--Bharat Mandapam in New Delhi, Yashobhoomi in Dwarka, and the India Expo Centre & Mart in Greater Noida.
Battery maker Samsung SDI suffers loss in Q4 on EV slowdown
Seoul, Jan 24: Samsung SDI, a South Korean battery maker, said on Friday it swung to a net loss in the fourth quarter from a year earlier due to a slowdown in electric vehicle (EV) sales.
U Power Launches Battery-Swapping Operations in Peru with Treep Mobility
Shanghai, Jan 23: U Power Limited has officially commenced its commercial operations in Peru, introducing its innovative UOTTA battery-swapping technology for two-wheeler and three-wheeler electric vehicles.
Used car sales in India likely to touch 10.8 million in 2030: Report
New Delhi, Jan 23: The used car market in India is projected to grow from 4.6 million sales in 2023 to 10.8 million by 2030, cruising ahead with an impressive compound annual growth rate (CAGR) of 13 per cent, according to a report on Thursday.
Hyundai Motor's 2024 net income up 7.8 pc, aims to sell 4.17 mn units this year
Seoul, Jan 23: Hyundai Motor, South Korea's leading automaker, said on Thursday its net profit for 2024 rose 7.8 per cent from a year earlier owing to an increase in the global demand for eco-friendly vehicles.
4 carmakers to recall over 340,000 vehicles for faulty parts
Seoul, Jan 23: Hyundai Motor, Kia and two other carmakers will voluntarily recall over 340,000 vehicles due to faulty components, the transport ministry said on Thursday.