Kinetic Green & Power Solutions, one of India’s leading EV companies, has partnered with global electric vehicle company Aima Technology Group to co-develop electric two-wheelers for the Indian market.

The two companies plan to launch at least three models jointly during 2022–23 in the country, including Aima’s latest advanced high-speed scooter platform. Aima Technology, listed on the Shanghai Exchange, has a presence in 87 countries. It has sold more than 50,000,000 electric two-wheeler units and boasts over 1000 models in its product portfolio, covering electric two-wheelers, electric three-wheelers and electric four-wheelers.

Kinetic Green, set up in 2015, which makes electric three-wheelers, has started selling electric two-wheelers since early 2021. According to a statement by the company, through this partnership, Kinetic plans to aggressively scale up its electric two-wheeler business and expand capacity to 5,00,000 units a year in the next two years.

Sulajja Firodia Motwani, Founder and CEO, Kinetic Green, said, “Kinetic Green’s vision is to bring a wide range of advanced, innovative yet affordable electric vehicles to the Indian mass market. We are delighted to partner with the world’s largest and leading EV player, Aima, and are looking forward to working together with them. Together, we will bring advanced EV technology to India and create maximum social impact by bringing these innovative products within reach of our large population, just like the impact made by our Kinetic Luna or Kinetic Honda earlier. We are also committed to building a strong EV eco-system together including local supply chain, and convenience of fast charging, battery swapping, long-range EVs to popularise this technology across the length and breadth of India.”

Su Yuhang, President, Aima Technology Group, said, “Aima has witnessed India’s great potential in green mobility, particularly in the year of 2021, fuelled by FAME II incentive policies, the yoy E2W growth of 631 percent, again showcased India’s resource endowment and competing advantage in private transportation industry. India will always be Aima’s strategic priority for global investment to cater to green and smart mobility needs. We are pleased to join hands with Kinetic Green, as KG has proved themselves to be the pioneers in India’s automobile industry, with good track record of Joint Venture with international brands. Together with Ms Sulajja Firodia’s entrepreneurship and their talent pool, we believe that we can co-develop the first class product for India customers, and through localisation, we can gain competing advantage and become the market leading force.” (MT)

Škoda Auto has released a teaser clip of the all-new Elroq vRS, offering a first glimpse of both its exterior and interior. The world premiere is scheduled to take place digitally on 3 April 2025 and will be streamed live on Škoda’s official YouTube channel.

Following its digital unveiling, the all-electric compact SUV will make its public debut at Milan Design Week 2025 in the Padiglione d'Arte Contemporanea gallery in the Porta Venezia Design District. In keeping with Škoda's Be More Elroq campaign, the exhibition will showcase the Elroq vRS as the focal point of an experiential journey from 8 to 13 April 2025. The show will also feature the official launch of Botas sneakers, which are based on Škoda Modern Solid design principles, in honour of the company's 130th anniversary. These sneakers were created in collaboration with the Škoda Auto design team. Members of the Škoda team will wear one of the three versions that are planned for the occasion.

Folks Motor, a retrofit start-up, has announced that it will invest INR 5 billion towards capital expenditure over the next five years, it is also targeting to attain revenue of INR 5 billion revenue including INR 2 billion from domestic market and INR 3  billion in exports.

The start-up claimed it is investing towards developing India’s first retrofit warehouse and industrial park – The Blue IP – to strengthen domestic EV supply chain.

Folks Motor claims it has already started exports to Middle East and Africa, with plans to enter Europe, Latin America and Southeast Asia.

The new investment will see the start-up form strategic partnership with powertrain manufacturers, electronic manufacturing services, energy storage and system integrators.

Nikhil Anand Khurana, MD & CEO, Folks Motor, said, "At Folks Motor, we recognise the urgent need to build a robust and integrated EV ecosystem in India. With ‘The Blue IP’, the first-ever xEV-focused warehousing and industrial park, we are taking a big step toward strengthening domestic manufacturing. Our target of INR 6 billion in order book by 2030 reflects our commitment to making India a leader in the global EV supply chain. Our expansion strategy ensures that sustainable mobility is accessible to a broader audience without the financial and environmental costs of scrapping existing vehicles."

The start-up claimed that it has structured a USD 100 million ESG bond for efficient fund utilisation, which it aims to scale up to INR 2.5 billion for working capital and operational expenses.

In what may come as a boon to the electric vehicle industry in India, the Union Finance Minister Nirmala Sitharaman has announced that the government is set to do away with duties on several goods used to manufacture electric vehicle batteries.

The move is being seen as a way to support the domestic EV industry, which may be impacted by potential reciprocal US tariffs.

“We aim to boost domestic production and enhance export competitiveness by reducing duties on raw materials,” said Sitharaman.

The move is expected to exempt 35 items used to manufacture electric vehicle batteries.

The manufacturing, adoption and promotion of EVs has been a priority area for the government of India, which has introduced a wide-variety of schemes such as – Production Linked Incentive (PLI) Scheme for Advanced Chemistry Cell (ACC) with a budgetary allocation of INR 26.7 billion, Electric Mobility Promotion Scheme (EMPS) with a budget outlay of INR 5 billion, PM E-Drive Scheme with an outlay of INR 109 billion, Pm e-Bus Sewa-Payment Security Mechanism (PSM) Scheme with an outlay of INR 34.3 billion and Scheme for Promotion of Manufacturing of Electric Passenger Cars in India (SMEC).

According to the latest data shared by the government of India, the country has over 4.4 million EVs registered as of August 2024, which includes 950,000 units sold in just eight months of 2024, achieving 6.6 percent market penetration.

Hyundai Motor Company today teased the INSTEROID, a playful take on a ‘dream car’. The design concept is based on its popular INSTER sub-compact electric vehicle (EV) and aims to strengthen the emotional connection with the Hyundai brand.

Combining the words ‘INSTER’ and ‘STEROID’, the name captures the fun and muscular character of this concept automobile, which is based on the INSTER production model. With significant sales in both Europe and Korea after its June 2024 worldwide premiere, INSTER has emerged as a popular EV. With its racing game-inspired look, wheel arch air vents, 21-inch wheels, a noticeable rear spoiler and diffuser and Signature Pixel LEDs, the INSTEROID enhances the production model's appearance. The company plans to unveil the INSTEROID ‘dream car’ to the public in early April 2025.