Affordable Electric Hatchback: MG Motors Patents Binguo For India
MG Motors has recently submitted a design patent for an electric hatchback currently available in China and Indonesia. The Wuling Binguo, which measures under four meters, shares its platform with the MG Comet. This vehicle is anticipated to enter India’s affordable passenger vehicle market under the MG brand. MG India has reported a month-on-month growth of 6% compared to April 2024. Despite a challenging market landscape, the automaker sold 4,769 vehicles in May 2024.The company’s electric vehicles (EVs) received significant positive response, accounting for 36% of its total monthly sales. The ZS EV achieved its highest-ever monthly sales since its debut, contributing significantly to this growth.
Ather Energy Attracts INR 286 Crore In New Funding From Key Investor
Ather Energy, the electric scooter manufacturer, secured INR 286 crore (USD 34 million) in funding from its founders and Stride Ventures through a combination of debt and equity. Founders Tarun Mehta and Swapnil Jain contributed INR 86 crore via series F compulsorily convertible preference shares, while Stride Ventures provided INR 200 crore through series C3 debentures, according to documents Ather filed with the Registrar of Companies. In April 2024, Ather Energy introduced its latest family scooter, the Rizta, at the Ather Community Day event in Bengaluru. Priced at INR 1,09,999 (Ex-showroom Bengaluru), the Rizta is designed to meet the needs of families. Tarun Mehta, Ather Energy’s co-founder and CEO, expressed confidence in the Rizta, stating, “This could be a game-changer for Ather, surpassing the success of the 450 model.”
Revfin, KPTL, and Bluwheelz Introduce India’s First Medium-Duty Retrofitted Electric Trucks for Sustainable Logistics
In a groundbreaking collaboration, Revfin, India’s leading digital lending platform for sustainable mobility, has partnered with Kalyani Powertrain Ltd (KPTL), the electric mobility arm of Bharat Forge Ltd, and Bluwheelz, a provider of sustainable logistical solutions, to launch retrofitted electric trucks in the Indian logistics sector. This initiative aims to support the 100% conversion of truck fleets to electric vehicles (EVs) over the next five years, leveraging innovative financial products and government schemes. KPTL has successfully homologated retrofitted electric trucks in the 10-16T Gross Vehicle Weight (GVW) category for the N3 Goods Carrier segment. These trucks are designed to serve sectors such as FMCG, e-commerce, cement, steel, and perishable goods, promoting ‘Made in India’ solutions in the global automotive market.
SKIL Cabs Races Past 100,000 Trips for Business Travelers, Sets Benchmark for Safe and Sustainable Ground Transportation
Leading corporate travel fleet operator, SKIL Cabs, announced a significant milestone, completing over 100,000 trips for business professionals in the financial year 2023-24. This achievement highlights the company’s impressive growth trajectory within the global travel industry, fueled by the rising demand for corporate travel and major social events. SKIL Cabs has carved a niche for itself with its expertise in personalized travel solutions, particularly for bulk bookings. This, coupled with their commitment to sustainable practices like launching EV cabs in over 20 cities in FY 2023-24, has solidified their position as the preferred choice for both existing and new corporate clients. Their focus on women’s safety with dedicated solutions and real-time tracking further strengthens their reputation.
Zepto And Battery Smart Unveil Partnership For EV Expansion
Battery Smart, a prominent battery swapping network for electric two and three-wheelers, has revealed a partnership with Zepto, an e-grocery and quick commerce service. This collaboration will provide Zepto’s EV delivery partners access to Battery Smart’s extensive network of over 1,000 battery swapping stations across more than 30 cities, enabling rapid two-minute battery swaps. The partnership aims to help Zepto deploy 10,000 new electric vehicles to its fleet in the fiscal year 2024-25. Currently, EVs account for 20% of India’s last-mile delivery market, aligning with the government’s target of 30% vehicle fleet electrification by 2030.
SUN Mobility and Indian Oil Join Forces to Create Largest Battery Swapping Network in India
SUN Mobility, a leading provider of energy infrastructure and services for electric vehicles (EVs), has announced a strategic collaboration and joint venture with IndianOil, a diversified, integrated energy major, to establish and deploy one of the largest battery swapping infrastructure networks in India by 2030. The joint venture aims to scale up to over 10,000 battery swapping stations across more than 40 cities within the next three years. This initiative seeks to facilitate the seamless adoption of electric mobility across two-wheelers, three-wheelers, and small four-wheelers by providing a convenient “Battery as a Service” (BaaS) mobility solution. SUN Mobility currently supports over 25,000 electric vehicles in India across 20 cities, utilizing over 630 stations and 50,000+ smart batteries that conduct over a million swaps per month for various two and three-wheeler customers.
TI Clean Mobility Secures Funding Boost From M&G Investments: Rs 310 Crore Investment
TI Clean Mobility Pvt Ltd, a subsidiary of Tube Investments of India Ltd, has finalized agreements with M&G Investments to secure Rs 310 crore in funding. This investment brings the total capital raised by TI Clean Mobility Pvt Ltd, a division of the diversified Murugappa Group, to Rs 2,840 crore. The company initially aimed to raise Rs 3,000 crore to support its various electric vehicle business ventures. In a statement released on Wednesday, TI Clean Mobility announced it signed definitive agreements with M&G Investments on June 5 to raise Rs 310 crore through Equity and Compulsorily Convertible Preference Shares.
Blue Dart Boosts EV Fleet To Over 480, Reinforces Environmental Commitment
In a strategic effort to promote sustainability and reduce its carbon footprint, Blue Dart, South Asia’s leading courier and integrated express package distribution company, has expanded its electric vehicle (EV) fleet to over 480 e-vehicles (2, 3 & 4 wheelers combined). This initiative, announced on World Environment Day, underscores Blue Dart’s dedication to environmental stewardship and its ambitious goal of achieving net-zero carbon emissions. The addition of EVs to Blue Dart’s fleet is expected to significantly lower environmental impact, cutting CO2 emissions by approximately 15.05 tonnes per month.
Lohia Launches The “Humsafar IAQ” 3-Wheeler, Targeting India’s Growing EV Market
Lohia, a manufacturer of electric vehicles, has introduced the “Humsafar IAQ” 3-wheeler, expanding its range of battery-operated two and three-wheelers. This new vehicle offers a range of 185 km per charge, making it ideal for last-mile connectivity and short commutes, with a maximum speed of 48 km/hr. It is designed to provide safe and comfortable transportation, accommodating a driver and four passengers, according to the company’s media release. The Humsafar IAQ features a 7.6 kW swappable battery and a 10.7 kW fixed battery (optional), along with an IP67-rated motor and 4.5R10, 8 PR Sheet Metal Rim. Its distinctive blue shade adds a touch of refinement and exclusivity.
MG Motor And HPCL Join Forces To Strengthen India’s EV Charging Network
MG Motor India has teamed up with Hindustan Petroleum Corporation Ltd (HPCL) to bolster the EV charging infrastructure across the country. This collaboration will see the installation of 50kW/60kW DC fast chargers at key locations, such as highways and cities. The goal of this partnership is to offer EV users increased convenience by expanding the availability of charging stations for long-distance and intercity travel. “With HPCL’s extensive network and strong presence in India, we can ensure that current and future EV users have easy access to our charging solutions,” said Gaurav Gupta, Chief Growth Officer of MG Motor India.
