With electric vehicle sales growth slowing from once-breakneck speeds and a large number of electric vehicle users reconsider shifting back to ICE vehicles in many markets around the world including India (a recent media report quoted that 51 percent of EV users would want to shift back to ICE vehicles) for reasons such as charging anxiety (opaque visibility and accessibility), maintenance costs (inability of local mechanics to carry even minor repairs), dramatic decline in resale and the resulting overall lower levels of satisfaction when compared to an equivalent ICE vehicle. 

A report filed by Michael Wayland in March 2024 in CNBC aptly mentioned that automobiles companies like Ford Motor, General Motors in US and Mercedes-Benz, Jaguar Land Rover and Aston Martin in Europe are scaling back their vehicle plans since demand for electric vehicles hasn’t shown up in the way the executives had expected. 

The powertrain strategy that is being put in place by American and European automakers particularly is turning out to be flexible in nature to accommodate a lineup of gas-powered vehicles, hybrids and fully electric ones. In short, the pace at which electric vehicles were anticipated to grow has not materialized, mentioned an industry source in Europe. This is despite the incentives rolled out in favour of them by the governments and manufacturers like Tesla managing to make a lot of money by selling carbon credits to others, he added. 

Image for representative purpose only

Montra Electric, a brand owned by Tl Clean Mobility Pvt Ltd, has praised the Government of India for the continuation of subsidy support for the electrification of last-mile mobility under the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme.

Roy Kurian, Business Head, Montra Electric (Last Mile Division), said, “Montra Electric sincerely thanks the Ministry of Heavy Industry, Govt of India for ensuring continuity of the subsidy support to last-mile mobility. This crucial support will help the industry navigate challenges and further speed up the shift to electric last-mile solutions.”

The PM E-DRIVE Scheme was launched on 29 September 2024. The scheme was put into effect on 1 October 2024 and will continue until 31 March 2026. Furthermore, EMPS-2024, the number of vehicles and the spending under EMPS-2024 for e-2w and e-3w being implemented from 1 April 2024 to 30 September 2024 are being subsumed under the PM E-DRIVE Scheme; hence, the scheme's effective time will be two years.

Pure EV, one of India's leading electric two-wheeler manufacturers, has entered into a strategic partnership with Arva Electric Vehicles Manufacturing LLC, a subsidiary of Clarion Investment LLC, with an aim to expand its presence across the Middle East and African regions.

Under the terms of the agreement, Pure EV will provide Arva Electric with a first shipment of 50,000 of its flagship models, the eTryst X and ecoDryft, over the next couple of years. Pure EV's position in these developing markets is anticipated to be cemented when the supply rises to 60,000 units per year after this initial phase. Pure EV will be Arva Electric's key technology partner in addition to supplying motorcycles, offering knowledge and assistance all the way through the distribution process. Pure EV will uphold all intellectual property rights pertaining to the bikes in order to safeguard unique technology as they increase their market share.

Dr Nishanth Dongari, Founder and Managing Director, Pure EV, said, “Our commitment to innovation and user experience ensures that we provide market-ready offerings and meet the growing demand for electric mobility solutions. This partnership not only aims to enhance sales but also to foster sustainable mobility solutions in regions where electric motorcycles are rapidly gaining traction, marking a significant step towards expanding our footprint in Middle East and African markets. By leveraging our strengths and capabilities together with Arva Electric, we are poised to make a significant impact on the electric vehicle landscape globally.”

Aniyan Kutty, Managing Director, Arva Electric Vehicles Manufacturing LLC, said, “We are pleased to partner with Pure EV, as their expertise in R&D and cutting-edge technology helps in building efficient and reliable 2W products. Both the companies are committed to promoting eco-friendly mobility solutions with an aim to reduce carbon emissions and support environmental sustainability in these regions.”

Atul Greentech Private Limited (AGPL), a subsidiary of Atul Auto Limited, has entered into a strategic partnership agreement with Hindustan Petroleum Corporation Limited (HPCL), a premier Government of India enterprise, to expand the reach of electric mobility in India.

Under this agreement, AGPL will offer its cutting-edge electric three-wheelers, ENERGIE and ENERGIE2, through HPCL's huge HP GAS distribution network, taking a key step towards encouraging sustainable mobility in the country. AGPL's ENERGIE and ENERGIE2 electric three-wheelers are intended to fulfil the rising need for sustainable and environmentally friendly transportation options in cities and rural regions. HPCL's support gives AGPL a strong distribution infrastructure, enabling for easy integration into urban and rural markets where cost-effective, sustainable mobility is critical.

Dr Vijay Kedia, Director, Atul Auto, said, “This partnership marks a pivotal moment in our journey towards a sustainable future. At AGPL, we are deeply committed to driving innovation in electric mobility, and our collaboration with HPCL is a testament to that vision. This partnership not only strengthens our product reach but also aligns with India’s growing emphasis on reducing carbon emissions and fostering clean energy solutions. We are confident that this collaboration will not only deliver exceptional value to our customers but also contribute meaningfully to India’s transition to greener transportation.”

Chinese automotive major BYD, one of the world’s leading new energy vehicles (NEV) manufacturer, has attained a new production milestone.

The company recently rolled out its 10 millionth electric vehicle from its Xiaomo Production Base in the Shenzhen-Shanwei Special Cooperation Zone. The milestone was achieved during its 30^th anniversary celebration.

Wang Chuanfu, Chairman and President, BYD recalled the journey of the company from being a start-up with 20 employees to now having around one million staff worldwide.  The company claims it is now the first automaker in the world to reach the EV sales milestone. What’s interesting to note is that the EV maker had crossed 5 million production milestone in 15 years, with the next 5 million production being attained in just 15 months.

Feng Ji, Founder & CEO of Game Science, the man behind Black Myth: Wukong, a global hit in the gaming industry took possession of Denza Z9, the 10-millionth vehicle produced by BYD.

Going forward, BYD has announced it will invest CNY 100 billion (USD 14 billion) towards developing intelligent technologies that integrate Artificial Intelligence (AI) with automotive systems, driving comprehensive upgrades of its entire vehicle lineup.