Maharashtra Government Signs MoU With Toyota to Set up Electric Car Plant
The Maharashtra government on 31st July, 2024 signed a memorandum of understanding (MoU) with Toyota Kirloskar to set up the electric car plant in Sambhaji Nagar with an investment of Rs 20,000 crore. Chief Minister Eknath Shinde
stated that this Toyota Project will revolutionise India’s electric car manufacturing industry. The factory will produce electric and hybrid cars and is expected to manufacture 4,00,000 vehicles annually.
Union Budget 2024 Can Accelerate India’s Electric Vehicle Revolution
The upcoming Union Budget 2024 will aim to outline strategies to ramp up India’s electric vehicle aspirations. Under the Narendra Modi government’s vision, the target is for electric vehicles to constitute 30%
of total auto sales by 2030. In the forthcoming budget, the Government can introduce various initiatives such as increased budget allocations for expanding EV infrastructure and extending subsidy schemes.
Xiaomi Showcase its First Electric Car SU7 in India
On the occasion of its 10th anniversary, Xiaomi showcases its first electric car SU7 in India. Xiaomi SU7 electric vehicle (EV) is the maiden public display of the flagship product by the Chinese company in India. This electric
vehicle also offers an experience of the “Human x Car x Home” smart ecosystem.
Car Sales Slow Down For Third Consecutive Month in June 2024
Passenger vehicle sales in India remain low for the third consecutive month in June. Factors attributed to slow sales volume are high base and reduced post-pandemic pent-up demand. Sales rose 3.7% from the previous year but slightly
declined from May, with 3,40,784 units sold compared to 3,28,710 last year. SUVs constitute 53% of sales.
European Union (EU) Decides to Impose 38% Tax Hike on Chinese EVs
The European Union (EU) has proposed a tax hike of 38% on Battery Electric Vehicles (BEVs) made by Chinese carmakers, including Tesla. The proposed tariff hike of 38% is over the 10% duties currently being charged. The new tariff
will be effective from July 2024. The European Commission states that the battery electric vehicles value chain in China benefits from unfair subsidization, which is causing a threat of economic injury to EU BEV producers.
Government Will Offer Incentives Only to Startups For Production of Electric Cars
The recently announced scheme by the Indian Government will only offer incentives to automakers that make fresh investment in a new manufacturing facility. With this, the Government aims to promote local production of electric
cars, as told by senior Government officials to Economic Times. Foreign firms can also apply for benefits under the Scheme for Manufacturing of Electric cars (SMEC) but with no retrospective approval for previous investments.
Chinese Automaker BYD Achieves New Milestone in India, Delivers 200 Units of Seal in Single Day
Chinese car manufacturer BYD achieves new milestone in India by delivering 200 units of Seal in single day. BYD Seal EV claims to have received more than 1000 bookings in just two months in India after the launch. The BYD Seal
EV is available in three different variants in India, which are Dynamic, Premium and Performance. The electric car is priced between Rs 41 lac and Rs 53 lac (ex-showroom price).
Chinese Automobile Company BYD Gets Great Response in the Indian Market
Chinese automobile company Build Your Dream’s electric sedan Seal is getting great response in the Indian market. The electric sedan which can run 650km on full charge has received 1000 booking so far. This car was launched
in March this year. Seal has been launched in three versions in the Indian market which includes two battery backs and two configurations. It’s starting ex-showroom price is Rs 41 lakh. BYD has left Tesla behind in global
market sales.
Car Wash Gets Banned in Uttarakhand Amid Water Crisis
Uttarakhand Chief Minister Pushkar Singh Dhami instructs all District Magistrates (DMs) to ensure that the cars in workshops are "dry washed" instead of using water. As the temperature in Uttarakhand soars in summer, the water
shortage in the hilly state has worsened. This water crisis, doubled with lower rainfall and snowfall these winters, has promoted the state government to ban the washing of cars using water. Six Uttarakhand cities, including
Dehradun, have reported severe water crisis.
Xiaomi SU7 electric sedan enters as the first-ever electric car from China. China’s Xiaomi has secured more than 70,000 locked-in orders of its SUV electric cars. The company targets 1,00,000 deliveries in 2024. Locked-in
orders refer to those where buyers have opted for non-refundable deposits. Xiaomi SU7 electric vehicle can perform like a sports car with a top speed of up to 265 km/h and the ability to reach 100 km/h in less than three seconds.
Indian Passenger Vehicle Segment Records Sale of 4.21 Million Units in FY2024
The Indian passenger vehicle segment record sale of over 42 lakhs in FY2024. This figure has increased 8.22% over FY2023(3.89 million units). UVs, which comprise of SUVs and MPVs, continue to be the highest contributor this year
too. SUVs accounted for 51% of the overall PV wholesales in FY23. Maruti leads in sale of passenger vehicle with over 17 lakh, Hyundai and Tata are second and third, respectively.
Tesla Plans to Collaborates With Reliance For EV Plant in India
As per reports by Business Line Tesla is engaged in discussions with Reliance Industries Limited (RIL) for a potential joint venture to set up a electric vehicle manufacturing facility in India. According to an insider familiar
with the matter, these talks have been in progress for over a month. However, the source emphasised that this should not be concluded as RIL's entry into the automobile sector. Rather, RIL aims to bolster electric vehicle capabilities
in India through this partnership.
Tesla to Explore Locations in India For $2bn-$3bn EV Plant
Tesla will send a team from the United States to India by late April to scout sites for a proposed $2 billion to $3 billion electric car plant, the Financial Times reported on Wednesday. The company reportedly plans to
enter India at a time when EV demand is slowing in its main markets of the U.S. and China while competition there is heating up. The EV maker will focus on Indian states that have automotive hubs.
India to Expect Maximum EV Model Launches in the Year Ahead
Approximately 25 models of battery electric vehicles (BEVs) are lined up for launch by 20 carmakers in India in the year ahead. This will be the maximum EV model launch, with prices ranging from Rs 5 lakh to Rs 3.5 crore. Tata
Motors leads with the Punch EV in 2024, while Maruti Suzuki, Hyundai, Kia, Renault, Mahindra, Mercedes Benz, and Audi among others gear up with their offerings
Delhi Transport Department to Check PUC Status at Fuel Stations
The Delhi transport department decides to install cameras at fuel stations across the city to check the PUC status of all vehicles. The transport department will penalize vehicle owners who have not renewed their pollution under
control (PUC) certificates. This project continues a pilot project launched at 25 fuel stations, where special cameras have been linked with mParivahan software to check the vehicle’s PUC status.
Electric Car Sales Decline to 5-Month Low in Feb 2024
Electric car sales in India decline to their lowest level in five months in February 2024 despite steep price cuts. Lower acquisition cost single handedly is not encouraging buyers to shift to EVs. The government's FAME India scheme
is set to end soon and may lead to further sales slowdown. Also, the Chinese Lunar New Year celebrations has impacted global sales of fully electric and plug-in hybrid vehicles (PHEVs).
Global Electric Car Sales Surpasses Milestone of 1 Million in January
The momentum in electric car sales might not be picking up in many key markets across the globe, however the overall sale is still on rise. A clear indication of this comes from the fact that global electric car sales in the month
of January have crossed the one million mark for the first time. According to a calculation made by UK based research firm Rho Motion, a global sale of electric cars touched the one million and is a 69% increase over sales
in January compared to the same period in 2023.
Government to Bring More Benefits For Scrapping Old Car
Scrapping your old car may fetch you more benefits soon. As per report by Mint, two people familiar with the matter state that government reviewing the existing scrappage policy has found few takers so far. The road transport
ministry is discussing additional benefits to encourage scrapping, and the prime minister’s office will greenlight the final policy. The policy may be in effect by the new government that takes office after the next general
elections.
Wireless Charging For Electric Vehicle May Soon be Reality
Plug-in cars may soon not be requiring a plug for charging. Electric car drivers would move to a specialized parking space when it’s time to power up, wait for a light on their dashboard to switch on, and then leave their
car for charging. With wireless EV charging, an inductive transfer of electrons that would eliminate the need for all those plugs and cords. Multiple startups have spent years working towards a world in which wireless charging
goes mainstream. Automakers are embarking on wireless experiments, and municipalities are mapping out use cases.
“Satellite Based Toll Collection to Commence Before Lok Sabha Polls”, Reveals Nitin Gadkari
The government plans to implement satellite based toll collection on highways before the Lok Sabha general election 2024 kicks in, Road Transport Minister Nitin Gadkari informed Parliament. Nitin Gadkari revealed this during the
Rajya Sabha session on 7th Feb, 2024. The satellite based toll collection technology will allow barrier free movement of cars. Vehicles will not be stopped for toll collection. The road transport minister further explains that
the photo of the registration plate will be captured and the toll amount will get debit based on the actual length of highway transverse by the vehicle.
Industry Players Urge Setting up More Charging Stations to Accelerate EV Ecosystem
After the finance minister’s announcement on developing charging infrastructure, industry players and experts urge setting up of more charging stations to accelerate EV Ecosystem. They also insist that every housing society
should have solar-based charging stations to cut dependence on the grid and achieve sustainable development. Also, EV charging stations must be solar based as these vehicles draw power from 15 ampere sockets for fast charging.
This mean each EV will be consuming power equivalent to four to five households and will put a strain on grid, hence, solar is a better option.
“Govt to Expand Electric Vehicle Ecosystem to Support Charging Infra”, Reveals Nirmala Sitharaman During Union Budget 2024
Union finance minister Nirmala Sitharaman while presenting the interim Budget 2024-25 states that Govt will expand electric vehicle ecosystem to support charging infrastructure. She further adds that E-buses for public transport
networks will also be encouraged. Greater adoption of e-buses for public transport networks will be encouraged through payment security mechanism. With an aim to promote green growth, she also said that the blending of compressed
biogas into compressed natural gas for transport and piped natural gas will be mandatory.
Luxury Car Buyers Make a Move to Shift From Diesel to Electric
Diesel vehicle sales in the luxury segment have gone down in recent times. Indian luxury car buyers are making a shift to electric vehicles. Buyers who can install charging points at home or work drive demand for luxury EVs. Car
makers like BMW, Audi, and Mercedes are surprised by the strong demand for EVs in a country with limited charging infrastructure. As diesel sales decline, luxury carmakers focus on petrol and electric vehicles.
Chinese smartphone maker Xiaomi unveiled its first electric vehicle on 28th December, SU7 sedan. Xiaomi Chief Executive Lei Jun outlined the company's big ambitions, which include building "a dream car comparable to Porsche and
Tesla". At the event, he said they will aim to become one of the world's top 5 automakers, striving to lift China's overall automobile industry. The Xiaomi-branded 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.
PMPML Collaborates With Adani Group For Setting Up EV Charging Points in Pune
The Pune Mahanagar Parivahan Mahamandal Limited (PMPML) ties up with Adani Group to set up seven electric vehicle (EV) charging stations in Pune and Pimpri Chinchwad. This will help generate non-traffic revenue and mitigate carbon
emissions in the city. According to PMPML officials, Adani will use an area of around 1,200 square feet to Adani to install the EV charging stations at Hinjewadi Phase 2, Bhakti-Shakti (Nigdi), Bhosari, Katraj, Baner-Sus Road,
Pulgate and Deccan Gymkhana. The charging stations will cater to all the private vehicles.
Volkswagen Launches' PEAK EV' Project to Bring Electric SUV to India by 2026
The Volkswagen Group has launched an ambitious project christened 'PEAK EV,' aiming to revolutionize India's electric vehicle (EV) platform. The company has planned to introduce a myriad of vehicles starting in 2026. Skoda Auto
Volkswagen India, the group's flagship entity in the subcontinent, has decided to localize the MEB21G EV architecture independently. The primary focus will be on manufacturing entry- and mid-size SUVs.
Chinese smartphone maker Xiaomi unveiled its first electric vehicle on 28th December, SU7 sedan. Xiaomi Chief Executive Lei Jun outlined the company's big ambitions, which include building "a dream car comparable to Porsche and
Tesla". At the event, he said they will aim to become one of the world's top 5 automakers, striving to lift China's overall automobile industry. The Xiaomi-branded 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.
BPCL Signs MoU With Tata Motors to Set up 7000 EV Charging Points by 2024
Tata Motors subsidiary, Tata Passenger Electric Mobility Ltd. (TPEM), signed a Memorandum of understanding (MoU) on Dec 8, 2023 with Bharat Petroleum Corporation Limited (BPCL) to install 7000 Electric Vehicle (EV) charging points
across India by 2024. Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd., and Tata Passenger Electric Mobility Ltd., raised the importance of EV adoption in the country to tackle air pollution issues.
Additionally, the two companies are mulling over bringing a convenient payment system through a co-branded RFID card, making payment easier for Tata EV users.
Nitin Gadkari Reveals Roadmap to Fight Pollution with Alternative Fuels
Minister of Road Transport and Highways Nitin Gadkari revealed a new roadmap for India's green mobility revolution based on EVs, biofuels, and alternative fuels. The Minister outlined key strategies involving hydrogen-driven
and electric vehicles to combat the rising carbon footprint. Nitin Gadkari stated in the Rajya Sabha session, "The emission of CO2 in our country is indeed from the transport sector, and it is increasing daily; this is a matter
of concern. Every year, three hundred thirty metric tons of CO2 emission is a hazardous problem."
Buyers Can Expect Hike in Prices For New Cars & SUVs From Jan 2024
If you plan to buy a car or SUV in 2024, you might have to pay more. Car manufacturers will hike their prices starting in January 2024. The main reason is the increasing price of commodities like steel. Maruti Suzuki & Tata
have already announced a hike in the prices of their cars from January 1, 2024.
Tesla to Introduce Most Affordable Car in India Soon
Tesla's most affordable model, priced at €25,000 (Rs 20 lakh+), will essentially be a two-door car launched in Germany. After the launch in Germany, the same car will be available in India. If the development turns out to
be accurate, this will be the second model to be considered by the San Carlos, California-based EV maker for India, after Model Y.
Car Insurance 
Bike/Two Wheeler Insurance 
Health Insurance 
Pet Insurance
Travel Insurance 
Home Insurance 
Cyber Insurance 
Third Party Vehicle Ins. 
Tractor Insurance 
Goods Carrying Vehicle Ins. 
Passenger Carrying Vehicle Ins. 
Compulsory Personal Accident Insurance 
Travel Insurance 
Rural 
Critical illness Insurance 
Maharashtra Government Signs MoU With Toyota to Set up Electric Car Plant
The Maharashtra government on 31st July, 2024 signed a memorandum of understanding (MoU) with Toyota Kirloskar to set up the electric car plant in Sambhaji Nagar with an investment of Rs 20,000 crore. Chief Minister Eknath Shinde stated that this Toyota Project will revolutionise India’s electric car manufacturing industry. The factory will produce electric and hybrid cars and is expected to manufacture 4,00,000 vehicles annually.
READ MOREUnion Budget 2024 Can Accelerate India’s Electric Vehicle Revolution
The upcoming Union Budget 2024 will aim to outline strategies to ramp up India’s electric vehicle aspirations. Under the Narendra Modi government’s vision, the target is for electric vehicles to constitute 30% of total auto sales by 2030. In the forthcoming budget, the Government can introduce various initiatives such as increased budget allocations for expanding EV infrastructure and extending subsidy schemes.
READ MOREXiaomi Showcase its First Electric Car SU7 in India
On the occasion of its 10th anniversary, Xiaomi showcases its first electric car SU7 in India. Xiaomi SU7 electric vehicle (EV) is the maiden public display of the flagship product by the Chinese company in India. This electric vehicle also offers an experience of the “Human x Car x Home” smart ecosystem.
READ MORECar Sales Slow Down For Third Consecutive Month in June 2024
Passenger vehicle sales in India remain low for the third consecutive month in June. Factors attributed to slow sales volume are high base and reduced post-pandemic pent-up demand. Sales rose 3.7% from the previous year but slightly declined from May, with 3,40,784 units sold compared to 3,28,710 last year. SUVs constitute 53% of sales.
READ MOREEuropean Union (EU) Decides to Impose 38% Tax Hike on Chinese EVs
The European Union (EU) has proposed a tax hike of 38% on Battery Electric Vehicles (BEVs) made by Chinese carmakers, including Tesla. The proposed tariff hike of 38% is over the 10% duties currently being charged. The new tariff will be effective from July 2024. The European Commission states that the battery electric vehicles value chain in China benefits from unfair subsidization, which is causing a threat of economic injury to EU BEV producers.
READ MOREGovernment Will Offer Incentives Only to Startups For Production of Electric Cars
The recently announced scheme by the Indian Government will only offer incentives to automakers that make fresh investment in a new manufacturing facility. With this, the Government aims to promote local production of electric cars, as told by senior Government officials to Economic Times. Foreign firms can also apply for benefits under the Scheme for Manufacturing of Electric cars (SMEC) but with no retrospective approval for previous investments.
READ MOREChinese Automaker BYD Achieves New Milestone in India, Delivers 200 Units of Seal in Single Day
Chinese car manufacturer BYD achieves new milestone in India by delivering 200 units of Seal in single day. BYD Seal EV claims to have received more than 1000 bookings in just two months in India after the launch. The BYD Seal EV is available in three different variants in India, which are Dynamic, Premium and Performance. The electric car is priced between Rs 41 lac and Rs 53 lac (ex-showroom price).
READ MOREChinese Automobile Company BYD Gets Great Response in the Indian Market
Chinese automobile company Build Your Dream’s electric sedan Seal is getting great response in the Indian market. The electric sedan which can run 650km on full charge has received 1000 booking so far. This car was launched in March this year. Seal has been launched in three versions in the Indian market which includes two battery backs and two configurations. It’s starting ex-showroom price is Rs 41 lakh. BYD has left Tesla behind in global market sales.
READ MORECar Wash Gets Banned in Uttarakhand Amid Water Crisis
Uttarakhand Chief Minister Pushkar Singh Dhami instructs all District Magistrates (DMs) to ensure that the cars in workshops are "dry washed" instead of using water. As the temperature in Uttarakhand soars in summer, the water shortage in the hilly state has worsened. This water crisis, doubled with lower rainfall and snowfall these winters, has promoted the state government to ban the washing of cars using water. Six Uttarakhand cities, including Dehradun, have reported severe water crisis.
READ MOREXiaomi SU7 EV Secures More Than 70,000 Orders
Xiaomi SU7 electric sedan enters as the first-ever electric car from China. China’s Xiaomi has secured more than 70,000 locked-in orders of its SUV electric cars. The company targets 1,00,000 deliveries in 2024. Locked-in orders refer to those where buyers have opted for non-refundable deposits. Xiaomi SU7 electric vehicle can perform like a sports car with a top speed of up to 265 km/h and the ability to reach 100 km/h in less than three seconds.
READ MOREIndian Passenger Vehicle Segment Records Sale of 4.21 Million Units in FY2024
The Indian passenger vehicle segment record sale of over 42 lakhs in FY2024. This figure has increased 8.22% over FY2023(3.89 million units). UVs, which comprise of SUVs and MPVs, continue to be the highest contributor this year too. SUVs accounted for 51% of the overall PV wholesales in FY23. Maruti leads in sale of passenger vehicle with over 17 lakh, Hyundai and Tata are second and third, respectively.
READ MORETesla Plans to Collaborates With Reliance For EV Plant in India
As per reports by Business Line Tesla is engaged in discussions with Reliance Industries Limited (RIL) for a potential joint venture to set up a electric vehicle manufacturing facility in India. According to an insider familiar with the matter, these talks have been in progress for over a month. However, the source emphasised that this should not be concluded as RIL's entry into the automobile sector. Rather, RIL aims to bolster electric vehicle capabilities in India through this partnership.
READ MORETesla to Explore Locations in India For $2bn-$3bn EV Plant
Tesla will send a team from the United States to India by late April to scout sites for a proposed $2 billion to $3 billion electric car plant, the Financial Times reported on Wednesday. The company reportedly plans to enter India at a time when EV demand is slowing in its main markets of the U.S. and China while competition there is heating up. The EV maker will focus on Indian states that have automotive hubs.
READ MOREIndia to Expect Maximum EV Model Launches in the Year Ahead
Approximately 25 models of battery electric vehicles (BEVs) are lined up for launch by 20 carmakers in India in the year ahead. This will be the maximum EV model launch, with prices ranging from Rs 5 lakh to Rs 3.5 crore. Tata Motors leads with the Punch EV in 2024, while Maruti Suzuki, Hyundai, Kia, Renault, Mahindra, Mercedes Benz, and Audi among others gear up with their offerings
READ MOREDelhi Transport Department to Check PUC Status at Fuel Stations
The Delhi transport department decides to install cameras at fuel stations across the city to check the PUC status of all vehicles. The transport department will penalize vehicle owners who have not renewed their pollution under control (PUC) certificates. This project continues a pilot project launched at 25 fuel stations, where special cameras have been linked with mParivahan software to check the vehicle’s PUC status.
READ MOREElectric Car Sales Decline to 5-Month Low in Feb 2024
Electric car sales in India decline to their lowest level in five months in February 2024 despite steep price cuts. Lower acquisition cost single handedly is not encouraging buyers to shift to EVs. The government's FAME India scheme is set to end soon and may lead to further sales slowdown. Also, the Chinese Lunar New Year celebrations has impacted global sales of fully electric and plug-in hybrid vehicles (PHEVs).
READ MOREGlobal Electric Car Sales Surpasses Milestone of 1 Million in January
The momentum in electric car sales might not be picking up in many key markets across the globe, however the overall sale is still on rise. A clear indication of this comes from the fact that global electric car sales in the month of January have crossed the one million mark for the first time. According to a calculation made by UK based research firm Rho Motion, a global sale of electric cars touched the one million and is a 69% increase over sales in January compared to the same period in 2023.
READ MOREGovernment to Bring More Benefits For Scrapping Old Car
Scrapping your old car may fetch you more benefits soon. As per report by Mint, two people familiar with the matter state that government reviewing the existing scrappage policy has found few takers so far. The road transport ministry is discussing additional benefits to encourage scrapping, and the prime minister’s office will greenlight the final policy. The policy may be in effect by the new government that takes office after the next general elections.
READ MOREWireless Charging For Electric Vehicle May Soon be Reality
Plug-in cars may soon not be requiring a plug for charging. Electric car drivers would move to a specialized parking space when it’s time to power up, wait for a light on their dashboard to switch on, and then leave their car for charging. With wireless EV charging, an inductive transfer of electrons that would eliminate the need for all those plugs and cords. Multiple startups have spent years working towards a world in which wireless charging goes mainstream. Automakers are embarking on wireless experiments, and municipalities are mapping out use cases.
READ MORE“Satellite Based Toll Collection to Commence Before Lok Sabha Polls”, Reveals Nitin Gadkari
The government plans to implement satellite based toll collection on highways before the Lok Sabha general election 2024 kicks in, Road Transport Minister Nitin Gadkari informed Parliament. Nitin Gadkari revealed this during the Rajya Sabha session on 7th Feb, 2024. The satellite based toll collection technology will allow barrier free movement of cars. Vehicles will not be stopped for toll collection. The road transport minister further explains that the photo of the registration plate will be captured and the toll amount will get debit based on the actual length of highway transverse by the vehicle.
READ MOREIndustry Players Urge Setting up More Charging Stations to Accelerate EV Ecosystem
After the finance minister’s announcement on developing charging infrastructure, industry players and experts urge setting up of more charging stations to accelerate EV Ecosystem. They also insist that every housing society should have solar-based charging stations to cut dependence on the grid and achieve sustainable development. Also, EV charging stations must be solar based as these vehicles draw power from 15 ampere sockets for fast charging. This mean each EV will be consuming power equivalent to four to five households and will put a strain on grid, hence, solar is a better option.
READ MORE“Govt to Expand Electric Vehicle Ecosystem to Support Charging Infra”, Reveals Nirmala Sitharaman During Union Budget 2024
Union finance minister Nirmala Sitharaman while presenting the interim Budget 2024-25 states that Govt will expand electric vehicle ecosystem to support charging infrastructure. She further adds that E-buses for public transport networks will also be encouraged. Greater adoption of e-buses for public transport networks will be encouraged through payment security mechanism. With an aim to promote green growth, she also said that the blending of compressed biogas into compressed natural gas for transport and piped natural gas will be mandatory.
READ MORELuxury Car Buyers Make a Move to Shift From Diesel to Electric
Diesel vehicle sales in the luxury segment have gone down in recent times. Indian luxury car buyers are making a shift to electric vehicles. Buyers who can install charging points at home or work drive demand for luxury EVs. Car makers like BMW, Audi, and Mercedes are surprised by the strong demand for EVs in a country with limited charging infrastructure. As diesel sales decline, luxury carmakers focus on petrol and electric vehicles.
READ MOREPrices Hike For Used Car Market
Chinese smartphone maker Xiaomi unveiled its first electric vehicle on 28th December, SU7 sedan. Xiaomi Chief Executive Lei Jun outlined the company's big ambitions, which include building "a dream car comparable to Porsche and Tesla". At the event, he said they will aim to become one of the world's top 5 automakers, striving to lift China's overall automobile industry. The Xiaomi-branded 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.
READ MOREPMPML Collaborates With Adani Group For Setting Up EV Charging Points in Pune
The Pune Mahanagar Parivahan Mahamandal Limited (PMPML) ties up with Adani Group to set up seven electric vehicle (EV) charging stations in Pune and Pimpri Chinchwad. This will help generate non-traffic revenue and mitigate carbon emissions in the city. According to PMPML officials, Adani will use an area of around 1,200 square feet to Adani to install the EV charging stations at Hinjewadi Phase 2, Bhakti-Shakti (Nigdi), Bhosari, Katraj, Baner-Sus Road, Pulgate and Deccan Gymkhana. The charging stations will cater to all the private vehicles.
READ MOREVolkswagen Launches' PEAK EV' Project to Bring Electric SUV to India by 2026
The Volkswagen Group has launched an ambitious project christened 'PEAK EV,' aiming to revolutionize India's electric vehicle (EV) platform. The company has planned to introduce a myriad of vehicles starting in 2026. Skoda Auto Volkswagen India, the group's flagship entity in the subcontinent, has decided to localize the MEB21G EV architecture independently. The primary focus will be on manufacturing entry- and mid-size SUVs.
READ MOREXiaomi Unveils Its First Electric Car
Chinese smartphone maker Xiaomi unveiled its first electric vehicle on 28th December, SU7 sedan. Xiaomi Chief Executive Lei Jun outlined the company's big ambitions, which include building "a dream car comparable to Porsche and Tesla". At the event, he said they will aim to become one of the world's top 5 automakers, striving to lift China's overall automobile industry. The Xiaomi-branded 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.
READ MOREBPCL Signs MoU With Tata Motors to Set up 7000 EV Charging Points by 2024
Tata Motors subsidiary, Tata Passenger Electric Mobility Ltd. (TPEM), signed a Memorandum of understanding (MoU) on Dec 8, 2023 with Bharat Petroleum Corporation Limited (BPCL) to install 7000 Electric Vehicle (EV) charging points across India by 2024. Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd., and Tata Passenger Electric Mobility Ltd., raised the importance of EV adoption in the country to tackle air pollution issues. Additionally, the two companies are mulling over bringing a convenient payment system through a co-branded RFID card, making payment easier for Tata EV users.
READ MORENitin Gadkari Reveals Roadmap to Fight Pollution with Alternative Fuels
Minister of Road Transport and Highways Nitin Gadkari revealed a new roadmap for India's green mobility revolution based on EVs, biofuels, and alternative fuels. The Minister outlined key strategies involving hydrogen-driven and electric vehicles to combat the rising carbon footprint. Nitin Gadkari stated in the Rajya Sabha session, "The emission of CO2 in our country is indeed from the transport sector, and it is increasing daily; this is a matter of concern. Every year, three hundred thirty metric tons of CO2 emission is a hazardous problem."
READ MOREBuyers Can Expect Hike in Prices For New Cars & SUVs From Jan 2024
If you plan to buy a car or SUV in 2024, you might have to pay more. Car manufacturers will hike their prices starting in January 2024. The main reason is the increasing price of commodities like steel. Maruti Suzuki & Tata have already announced a hike in the prices of their cars from January 1, 2024.
READ MORETesla to Introduce Most Affordable Car in India Soon
Tesla's most affordable model, priced at €25,000 (Rs 20 lakh+), will essentially be a two-door car launched in Germany. After the launch in Germany, the same car will be available in India. If the development turns out to be accurate, this will be the second model to be considered by the San Carlos, California-based EV maker for India, after Model Y.
READ MORE