Hyundai Motor to localize sourcing its components for India Market
Hyundai Motor India, the country’s second-largest carmaker, said it was accelerating the localisation plan for its electric vehicles (EV) as the government is set to hike basic customs duties on completely-built as well as knocked-down EVs and components, making imports more expensive.The company is looking at multiple partnerships to create a manufacturing ecosystem to ensure that EVs become mainstream and accessible, said SS Kim, the managing director of Hyundai Motor India.When the company launches more affordable mass-market EVs, it plans to localise as much content as it does for its conventional vehicles, which is over 90%Import of knocked-down electric vehicles presently attracts a 10% basic customs duty which is set to go up to 15% from April. The duty on imported battery cells is set to increase from 5% to 10% from April next year.
Uber plans to expand its EV fleet in India in two years
Ride-hailing app Uber plans to quadruple its electric vehicles fleet in India by the end of the year, leveraging strategic partnerships across the ecosystem. Uber has more than 350 electric vehicles and plans to expand that to 1,500 by year-end. Pradeep Parameswaran, president, Uber India South Asia said the company looks at India as a growth market for the next ten years as it continues to partner with the auto industry and startups to launch new products, especially in the electric mobility space.Uber’s move towards electric mobility is driven by a two-fold agenda – better business economics and increased government push.Most mobility platforms including Ola’s electric arm, Bounce, Vogo, Yulu, as well as OEMs like Bajaj, Hero, Mahindra & Mahindra and Tata Motors are stepping up focus on electric mobility.
Low-Cost electric scooter to be developed by Bajaj Auto for Yulu
Using its local expertise, Bajaj Auto will offer a more affordable alternative to startup Yulu against Chinese electric two-wheelers. It has started to develop single-seater, low-power electric scooters with a price tag of around Rs 30,000-35,000, a top official at Yulu said.The Pune-based company had picked up stake worth $8 million in the electric mobility service provider in November last year. This is the first time that the manufacturer of Pulsar and KTM bikes has invested in a startup.Bengaluru-based Yulu imports electric scooter kits from China before assembling them in India.Amit Gupta, co-founder and CEO, Yulu, said, “We are spending about $600 per bike. We are getting them manufactured in China and assembling them in India. With Bajaj Auto coming on board, we can bring down the price to $500 in the medium to long term. From over Rs 40,000, we can bring it down to Rs 30,000-35,000. Our product is customised for shared mobility.”
First electric vehicle charging station set up by HPCL in Gujarat Vadodara
Hindustan Petroleum Corporation Ltd (HPCL) has set up its first electric vehicle charging facility in Gujarat at Karelibag locality here.After inaugurating the facility HPCL Director (Marketing) Rakesh Misri said that it is the first charging station set up by HPCL in Gujarat.Hindustan Petroleum will plan, develop and install EV charging facilities at suitable locations throughout the country.The EV stops will be equipped to charge two, three, and four-wheeler vehicles. With the installation of public charging stations, the range anxiety of EV owners is expected to reduce, which will increase the adoption of electric mobility.
Karnataka in plans to develop a Cluster of Electric Vehicles
As part of the efforts to encourage electric mobility in Karnataka, the State Government is planning to develop an electric vehicle cluster, said Large and Medium Industries Minister Jagadish Shettar in Bengaluru. Shettar said “Batteries comprise 30% the cost of an EV, one of the most expensive components in the entire unit. EVs will be easily affordable by all if this cost is reduced. In this regard, the state government’s priority is to initiate local manufacturing of EV batteries. We will also develop an electric vehicle cluster in the state and keep a dedicated fund for e-mobility/manufacturing sector.’’“Karnataka is the first among 10 states to have taken a lead with a separate policy in 2017 and aims to become an EV manufacturing hub and for developing battery technology,’’ he said.
Toyota Kirloskar Motor Launches the New Luxurious Self-charging Hybrid Electric Vehicle in India- the Vellfire
Toyota Kirloskar Motor (TKM) unveiled the illustrious Toyota Vellfire, the new luxurious self-charging hybrid electric vehicle in India. The luxurious and spacious interiors of the new Vellfireboasts of opulence while the majestic and fearless exterior is thoughtfully curated toleave a lasting impression. Present at the launch, Mr. Vikram Kirloskar- Vice Chairman, Toyota Kirloskar Motor said,“The automotive industry in India is undergoing a profound technology-driven transformation with innovation and creativity defining the overall customer experience. As industry leaders, it is imperative for us to challenge ourselves and provide customers with new breakthroughs that not only promises magnificence and comfort, but also contributes to the well-being of the ecosystem.