Electric vehicles (EVs) are the future of transportation, and India is quickly adapting to this sustainable trend. From exciting new launches to milestones in sales, here’s a roundup of the latest developments in the EV industry.
1. Delhi’s EV Policy Extended: Save Big on Your EV Purchase!
The Delhi government has extended its EV policy till March 31, 2024, offering continued incentives for EV buyers. Key benefits include:
- Subsidies on EV purchases, reducing the upfront cost.
- Exemption from road tax and registration fees.
This extension is aimed at promoting cleaner mobility and encouraging more people to switch to EVs. If you’re in Delhi, now is the perfect time to invest in an electric car or two-wheeler.
Source: Times of India
2. Mahindra Unveils New Electric Cars: BE 6e and XEV 9e
Mahindra has introduced two ground-up electric vehicles:
| Model | Type | Key Features | Expected Launch |
|---|---|---|---|
| BE 6e | Mid-Sized SUV | Stylish design, long range, advanced tech | Early 2025 |
| XEV 9e | Compact Urban EV | Affordable, city-focused, smart features | Late 2024 |
BE 6e and XEV 9e models highlight Mahindra’s commitment to delivering world-class EVs tailored to Indian roads and consumers.
Source: livemint
3. Ola Faces Decline in Registrations
Ola Electric has been leading the electric two-wheeler market but saw a 33% drop in registrations in November 2024. Possible reasons for this decline include:
- Seasonal demand fluctuations.
- Rising competition from Bajaj and TVS.
- Customer concerns about product quality and after-sales service.
To regain momentum, Ola is expected to focus on product upgrades and better customer service.
Source: zeenews
4. India’s EV Market to See 20+ Electric SUVs by 2027
Experts predict a boom in the Indian EV market with over 20 new electric SUVs launching by 2027. Some factors contributing to this growth are:
- Government policies promoting EV adoption.
- Improved charging infrastructure.
- Increased awareness of sustainable mobility.
These SUVs are expected to range from budget-friendly models to luxury EVs, catering to diverse consumer needs.
Source: cnbctv18
5. Mahindra and Tata Gear Up for Tesla’s Entry
With Tesla preparing to enter the Indian market, domestic automakers Mahindra and Tata are gearing up to compete. They plan to:
- Offer localized EVs with features tailored to Indian buyers.
- Expand service networks and improve customer experiences.
- Keep pricing competitive to challenge Tesla’s premium positioning.
Tesla’s entry is likely to drive innovation and boost the overall EV ecosystem in India.
Source: economictimes
6. Intense Competition in the Two-Wheeler Market
November 2024 saw a fierce battle among Ola, Bajaj, and TVS for electric two-wheeler registrations. Here’s how they performed:
| Brand | Market Performance (Nov 2024) | Key Highlights |
|---|---|---|
| Ola | Decline (-33%) | Dominant but facing product and service challenges |
| Bajaj | Steady Growth | Reliable scooters with strong customer trust |
| TVS | Moderate Increase | Expanding portfolio and competitive pricing |
Such competition is great news for consumers, who now have more choices in this segment.
Source: business-standard
7. India’s EV Two-Wheeler Market Hits 1 Million Sales in 2024
India’s electric two-wheeler market crossed the 1 million sales mark this year, a major milestone reflecting growing adoption of EVs. Factors driving this success include:
- Affordable EV models available for under ₹1 lakh.
- Attractive government subsidies.
- Rising fuel prices pushing consumers toward electric alternatives.
This achievement signals that India is well on its way to becoming a global EV hub.
Source: storyboard18
Conclusion
The EV landscape in India is buzzing with activity, from policy extensions and new launches to increased competition and sales milestones. Whether you’re an EV enthusiast or a potential buyer, there’s never been a better time to explore the world of electric vehicles.
Stay tuned for more updates as the Indian EV market evolves!