BYD of China has made big gains in sales in the third quarter of 2024 calendar year to overtake Ford Motor Company in vehicle sales for the first time. 
The electric vehicle company has witnessed extraordinary expansion this year as it increased its capacity and hired more manpower. Overtaking Tesla, the electric vehicle automaker made big gains on the back of robust sales in its domestic market by exceeding its annual sales target of four million vehicles. This would be more than the worldwide sale of Honda and Ford in 2024. 
Delivering 3.76 million vehicles in the first 11 months of 2024, according to industry sources, the electric vehicle manufacturer from China reported 506,804 units for November alone. 
Offering BEVs and plug-in hybrids, BYD has clearly achieved a considerable gain in market share in its home market while it pursues a steady growth in exports markets around the world including India. 
Interestingly, 90 percent of all that the company produces is sold in its home market, the export market share being 10 percent unlike some of the other automakers who have a better exports market share in comparison to the vehicles they sell in their home markets. 
According to the October 2024 data by the China Passenger Car Association (CPCA), BYD garnered a market share of 16.2 percent in its domestic market, up from 12.5 percent in 2023. The Volkswagen and SAIC joint venture along with the other joint venture with FAW Group joint venture garnered a market share of 12.5 percent jointly, in comparison. It registered a decline from last year’s market share of 14.2 percent. 
Given the sales BYD has achieved by the first 11 months of the 2024 calendar year, it is likely to end the year by inching closer to the numbers General Motors and Stellantis does. 
 

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Hindustan Zinc, the world’s largest integrated zinc producer, has reported significant early-stage breakthroughs in the development of next-generation zinc-based battery technologies. These efforts aim to deliver higher energy efficiency, improved safety and longer battery life, supporting India's transition to clean, sustainable energy.

As lithium-ion battery supply chains face growing constraints and rising costs, zinc is emerging as a viable and strategic alternative. The company shared that zinc-based batteries offer several advantages, including superior safety (non-flammable), long cycle life, recyclability and operation across a wide range of temperatures. Additionally, they leave a greenhouse gas footprint nearly six times lower than conventional technologies.

Arun Misra, CEO, Hindustan Zinc, said, “Batteries are pivotal in the global shift toward clean energy. We are committed to driving innovation through our collaborations with premier Indian research institutions and by leveraging our metallurgical expertise. Our goal is to responsibly accelerate the battery revolution and contribute meaningfully to India’s energy independence.”

In partnership with the Indian Institute of Technology (IIT) Madras and the Jawaharlal Nehru Centre for Advanced Scientific Research (JNCASR) in Bengaluru, Hindustan Zinc is exploring sustainable zinc-based storage technologies.

Under a Memorandum of Understanding signed in August 2024, researchers at JNCASR are advancing zinc-ion battery technology, with a focus on novel zinc anode formulations and advanced electrolytes.

“Our work on electrode/electrolyte interface engineering has yielded promising results,” said Professor Prem Senguttuvan from JNCASR.

In a parallel initiative, IIT Madras is working on the development of a 1 kWh rechargeable zinc-air battery module, structured as a 6/12-cell stack. The project, led by Professor Aravind Kumar Chandiran, emphasises rechargeability, interface durability and battery longevity. “These batteries have enormous potential for electric vehicles, grid-scale storage, and consumer electronics,” said Prof. Chandiran.

Hindustan Zinc quoted a recent BloombergNEF report, which projects the global energy storage market will grow at a 21 percent CAGR, reaching 442 GWh by 2030.

Further expanding its global footprint, the company has also signed an MoU with US-based AEsir Technologies, a leader in nickel-zinc battery innovation. Through this partnership, Hindustan Zinc will provide technical expertise, commercial-grade electrodes and performance additives to help scale battery technologies from lab prototypes to industrial production.

Hindustan Zinc, a Vedanta Group company, currently supplies to over 40 countries and commands approximately 75 percent of India’s primary zinc market.

JSW MG Motor India is set to expand its EV portfolio with the MG Windsor Pro, which is set to be introduced on 6 May 2025.

The MG Windsor Pro is expected to offer a higher range, more features, improved safety and minor design tweaks. While technical details are yet to be released, it is safe to understand that the company is looking to further drive sales of its popular EV, targeting a new set of customers.

Launched on 11 September 2024, the company positioned the Windsor as a CUV (crossover utility vehicle) and the most comfortable EV in its segment.

The Windsor EV has already surpassed 20,000 units sales since launch, and has been the highest selling electric passenger vehicle for the last several months in a row.

Gujarat-headquartered electric vehicle maker Wardwizard Innovations & Mobility, the maker of ‘Joy e-bike’ and ‘Joy e-rik’ brand, has reported a consolidated net profit of INR 63.6 million for FY2025, maintaining profitability for the fifth consecutive year despite industry headwinds and a 5.1 percent drop in annual revenue.

The company’s total consolidated revenue stood at INR 3.04 billion, down from INR 3.2 billion last year. However, EBITDA rose 13.9 percent YoY to INR 3.6 billion, and EBITDA margins improved by 222 basis points to 12.11 percent, reflecting strong cost discipline and operational efficiency.

Despite a 52.7 percent YoY dip in PAT, largely due to a high base in FY2024, Wardwizard remained in the black – underscoring resilience amid a challenging EV market environment.

Yatin Sanjay Gupte, Chairman & MD, Wardwizard Innovations & Mobility, said, “While annual revenues saw a slight decline, EBITDA rose 14 percent YoY. Our profitable performance, sustained for five consecutive years, sets us apart and reinforces the strength of our strategy.”

In Q4 FY25 (Jan–Mar 2025), the company recorded a 62.2 percent YoY rise in PAT to INR 64.5 million, with EBITDA nearly doubling to INR 1.8 billion. PAT margins for the quarter expanded to 5.91 percent, and EBITDA margins reached 17.26 percent, reflecting improved product mix and cost optimisation.

During the last fiscal, the company deployed over 400 electric two-wheelers across major cities like Kolkata, Pune, and Ahmedabad as well as the launch of L5 electric rickshaws in Maharashtra. Ongoing partnerships and a USD 1.29 billion EV initiative in the Philippines are expected to drive future growth.

“With continued innovation and targeted execution, we are building a stronger foundation for long-term growth,” Gupte added.

OPG Mobility (formerly Okaya EV) has appointed Ajay Dhiman as the new President – Chief Operating Officer (COO) and Chief Technology Officer (CTO) to lead its electric vehicle and EV components business.

In this strategic leadership role, Dhiman will be responsible for operations and technology functions spanning manufacturing, R&D, product development, quality, sourcing, supply chain and business strategy.

He joins OPG Mobility with over 20 years of experience in the automotive and EV sectors. He previously served as Senior Vice-President at Revolt Motors, where he is said to play a key role across CXO-level functions and was instrumental in accelerating product development and delivering high-quality electric mobility solutions. His career includes leadership stints at Honda, Renault-Nissan, Subros and Sonalika Group, contributing across two-wheeler, three-wheeler, and four-wheeler segments.

Anshul Gupta, Managing Director, OPG Mobility, said, “We are delighted to have Ajay Dhiman join our leadership team at a pivotal moment in OPG Mobility's journey. As we step up our presence in the EV ecosystem, Ajay’s deep experience in product development and operations will be invaluable in scaling our EV and components business. His thorough knowledge of both legacy systems and new mobility technologies will drive value, innovation, and faster execution across our transformation journey.”

Ajay Dhiman, added, “It’s an honour to join OPG Mobility at such a transformative time. The brand’s vision of delivering inclusive and innovative electric mobility solutions aligns strongly with my passion for engineering excellence, innovative products and future-focused manufacturing. I look forward to working closely with the leadership and teams to strengthen our product pipeline, accelerate product innovation, strengthen our technological edge, enhance operational excellence, and scale solutions that support India’s evolving mobility needs. We aim to position OPG Mobility as a frontrunner in shaping India’s electric mobility revolution.”