Ola’s Electric car launch!

At a time when India, amongst the fastest growing economies in the world, is taking interesting leaps toward the Electric car revolution, news that Ola is entering the four-wheel segment is nothing less than a giant stride.

And this isn’t mere hearsay; this is confirmed the news that is taking the electric car news space in India by storm.

On top of it, that Ola Electric is about to unveil its first-ever pure electric car on India’s independence day is massive news in itself.

Chances are, whatever you may read at this time, and whenever you may be reading it, news concerning the electric car development will pertain to Ola’s plans of launching its maiden offering in the EV segment.

That being said, what are the exact details that we know about the soon-to-be-launched development? And to what extent are they in the public domain as you read this piece?

To that end, it’s important to know that there aren’t too many details available as we speak.

However, Ola Electric’s CEO, Mr. Bhavish Aggarwal did express his excitement about the development that holds the key for his organization and in turn, to the changing EV tide in India.

The mega-successful entrepreneur, who hails from Ludhiana, happened to share the crucial news through his social media:

“Super excited to announce a new product this 15th August! Will also share more about our BIG future plans!!”

That being said, while not an awful lot is known about the way the car will eventually look and be, what is clearly known is that Ola Electric has huge plans for this four-wheel segment.

It is already in the advanced stages of setting up 1,000 acres of land for the purpose of building a new factory for car manufacturing part.

Interestingly, this factory will be two times the size of the existing factory at Hosur, which is being used for the purpose of making Ola’s electric scooters.

-stay tuned to The EV Daily for more updates about Ola’s eventual car launch!

Simple energy signed MoU WITH Tamil Nadu Govt for an Investment of RS 2,500 Crore for Scooter Plant 

Made-in-India electric vehicle company, Simple Energy endorsed a memorandum of understanding in the month of December 2021 towards  building a manufacturing plant in Dharmapuri. 

As per the news report, the first plant of 200,000 is being established in Shoolangri Hosur, and it can, as reported, manufacture a million scooters in a year. 

That’s not too bad for a company that’s yet to be known spectacularly well. 

In phase 2, Simple Energy will set up a second plant on 600 acres of land next year. 

On the occasion of the massive development, Mr. Subhash Kumar, CEO, and founder, of Simple Energy, said the Tamil Nādu government helped us to provide the fund for making the ecosystem.  

What we truly aim is to achieve our long-term goals of making clean air and reducing pollution. 

 Meanwhile, UiPath India (a global software company based in New York, USA) chairman, Shri Raghunath Subramaniam, who’s also an investor in UK battery maker British bolt (and board member, Simple Energy), said the Bangalore-based firm has taken a big step on the world level. He was excited to note that as a country, India is leading the EV market forward, with the aim to reduce carbon footprint and define electric mobility. 

Having said that, Pooja Kulkarni, IAS, MD, and CEO, Guidance said, “The electric vehicle industry is growing in the world the MoU will help to become a global player in the electric vehicle industry.” 

It’s not some breaking news anymore that the world is working towards electric vehicle revaluation. Though what’s important is that India is also working on it, and Subhash Kumar who designed an Electric two-wheeler has already launched on 15 August 2021. 

The competition for these scooters, as per market reports, is the Ola EV, Revolt, Okinawa, Ather, among the others. 

The simple one scooter provides a 236 km IDC range in one single charge. 

Moreover, the maximum speed of this scooter is 105 KMPH. 

A test ride is going on for the booking customer and it will come to be delivered in September. Exciting times ahead then for the EV two-wheeler segment in the country. 

What was Mobility 2022 of TechCrunch about?

If you are a player in the dynamic EV industry, then perhaps one of the key questions, of the many, you’d like to know is just how further can Tesla impact an already fast-changing dynamic of urban mobility.

In a similar vein, if you are an existing player in the urban mobility landscape, then one of the questions you’d be likely asked, especially where it comes to the present year is whether you were part of the event that pretty much defines the concept of Mobility, as one knows it?

It was May Day in May of 2022 given all roads of Urban Mobility and the Future of Technology and Transportation led to San Mateo, California, for Mobility 2022, the go-to tech and urban mobility event organized by TechCrunch that needs little introduction.

At TechCrunch’s Mobility 2022, one had the massive opportunity of meeting Exhibitors, Founders, Technologists, and Investors involved with some of the leading, established, and up-and-coming organizations in the sphere of Mobility.

With the idea being to immerse in a captivating world shaped increasingly by an interplay of technology and innovation, Mobility 2022 got the movers and shakers of a sophisticated, rapidly shape-shifting realm that governs our future as we know it: Mobility!

Key questions, arresting, jaw-dropping even, such as how self-driving cars are shaping the electric automotive landscape, how Robotaxis are going to impact our future, and how the concept of design shapes an affordable, purely-electric next-generation car among the many were discussed and keenly participated in.

TechCrunch Mobility Pitch-off, attracting dozens of the industry’s brightest names in the space of Mobility- entrepreneurs and designers and tech geeks- got a precious opportunity to engage in meaningful dialogue with experts (VCs) that offered immeasurably valuable feedback to (several) pitches.

How to further build, for instance, an electric car start-up, shape up your company’s aggressive growth portfolio, and add new feathers to an expansive hat so as to impact the sphere of Urban Mobility were just some of the many vital touch points of an event second to none in understanding the concept of Mobility- on the whole.

Pravaig Dynamics, among the many ambitious start-up EV brands shaping the dynamic of electric mobility, participated in the widely covered “one of a kind” event in California.

The start-up brand, based in Bangalore describes itself as a maker of cutting-edge EVs and a rising new-age Automotive company in India.

How is Indian Oil playing its part in ensuring EV fast-tracking in India?

Of the many vital support systems and nutrients that the human body needs is water. Without it, no life is possible and none can be sustained. You’ve heard this a hundred thousand times across your life. Probably, it’s such a basic human fact that we may soon see memes being made out of it someday for such is the depravity of the human mind in this social media obsessing meme-making age. Right?

Similarly, without the tree, the big banyan tree, it is not possible to imagine there being any shade to guard the passerby or the exhausted from the blaring or screeching sunlight. In essence, that’s pretty much the role being played by the EV chargers in the life of the EV, i.e., the electric cars.

Without the charger, just what would the car do. When the human battery can phase out and tire us into exhaustion sans any rest, electric cars still are, power-driven beings. Their fuel is one that essentially fights ‘the’ fuel if you come to think of it. Right?

And in a bold and big way to step up the ante of fast-tracking EV adoption in India, one of Motherland’s famous homegrown creations, Indian Oil Corporation has come forward to do its bit. And this bit is actually a massive shot in the right direction. The direction is called the green mile.

So, what did the Indian Oil Corporation really do?

In making a formal announcement made recently by the famous energy sector player in the country that also happens to be a dominant player on the global stage, Indian Oil assured the nation that it would be setting up 10,000 EV charging stations all over India.

At this time, the need to mobilize a fuel-free, non-dependent-on-fuel future of India is vital. Old clichés to be conservative in one’s outlook where it comes to vehicles are redundant. They’ve waned out. Never previously before has India seen such alarming numbers where it comes to deaths being caused on account of pollution. The figures are ghastly and their aftermath, terrible realities of life.

Households have multiple cars. Cars are being sought and hence, being put to use for every small step. Nothing’s too rational. Impulse often seems to drive our decisions regarding car purchases.

In these times, efforts have to be made to be more conscientious about the world we cohabit, the world we inhabit, and rely on every single day for as long as we are.

Therefore, there’s an even greater need to push the EV agenda, and implicit in making this right call is to put charging stations out there. More beautiful and

impactful is that scenario where some leading entity well known to the wider ecosystem steps forward to espouse the big, bright cause. This is what Indian Oil has done. And hey, it must be lauded.

Honorable Mr. SM Vaidya, the current chairman had happened to share the following, “We need to give that extra fillip to the ambitions of the Prime Minister and the commitment that the country has made. So, this electric charging station is a small step for Indian Oil but it will be a giant leap for the EV system.”

Now that a leading, mainstream player in the energy cosmos has stepped forward, the key question is, can the others follow suit and help create an India that places the “Environment Quotient” at the heart of things?

Big step taken in December by Government toward fast-charging EV adoption!

Cricket match! And it’s eventuality- 2 teams, 22 players, wickets and runs, and eventually, the fate of the contest.

Gala dinner at a fancy restaurant! And it’s eventuality- a big meal, lots of snacks, cheese and wine, scrumptious delightful food, and in the end, delighted eaters and their gala time.

In a similar vein, come to think of an electric car- a charging facility, lots of money saved on there being no fuel or its need, and importantly- a reliable charger.

You need each one of the above to make an event or finality happen. Can’t do with one missing piece in the jigsaw.

And where it stands at present, then it’s that reliable charging facility, one of the most important constituents of the EV ecosystem, that’s creating wide buzz and perhaps rightly so.

Nothing more is ever needed by a country so incessantly marred by pollution and the rising toxicity than electric cars, rather more and more of its public to move about in EV(s).

The time to make the right decision has come. And there’s nothing to be gained by delaying the right call and its adoption. But gladly, in 2021, the government took vital decisions to fast-track EV adoption in the country.

So what was it?

In a major first, leading oil corporations such as the noted Indian Oil Corporation as well as the Bharat Petroleum Corporation Limited pledged to use their outlets by way of installing EV charging stations.

In that regard, what used to be an oil pump- should eventually- turn into a buzzword on the lips of the consumer: a charging station.

From the oil pump to the charging station, the big journey that promises a massive turnaround must succeed. India must hope for that actually. As many as 17,000 charging stations will be coming up in the course of the next few years at various outlets under Indian Oil and BPCL’s brands.

The fact that fast-tracking of charging infrastructure can only when the government installs various chargers at different points across the country is simple math. No rocket science in this.

In that regard, what’s important to note is that the center is planning to install as many as 70,000 EV chargers across the country. Meanwhile, here’s what a recent report in the Hindustan Times had to say: The Centre said that it aims to set up at least 22,000 EV charging stations, using the facility of 70,000 petrol pumps across the country.

What are Honda’s plans with EVs in the Indian market?

When you think of Honda, you immediately think of massively popular vehicle offerings into the Sedan and SUV space; names that have, over the course of the past few years become vital movers and shakers of a Japanese car brand built on the principles of trust, integrity, and ultimately- value for money.

Names like Honda Civic, City (modeled again and again on versatility and ever-evolving car design) that didn’t take long to become household names in India.

Today, frankly speaking, when one thinks of classic sedans that zipped in the urban clutter of India, you tend to get nostalgic by remembering the classic City model that dominated the roads in the 2000s.

Over the years, Honda has gone on to offer runaway successes in the Indian market with the likes of Accord, Civic, City, and Jazz.

But that’s not all!

Then Honda’s been ever so big in the two-wheeler space, with one of the biggest market updates from of this soon-to-draw-to-a-close 2021 suggesting that Honda Motorcycle and Scooter India, sold no fewer than 2.64 million units as of  March this year. With this, the Indian market became number 1 again for the trust Japanese automaker in the Oceania region.

But against that narrative, a question that has often beckoned one’s attention is one pertaining to the future of the brand in India’s EV space. Just where does the EV factor weigh in Honda’s plans for India.

For starters, it helps to know that Honda’s futuristic plans for getting into the EV space in India are essential, at this moment, tied to a few key areas. One is a new facility in the realm of battery sharing and the other, a dependable electric scooter that is yet to be launched in India.

But having said that, let’s first understand some of the former. For now, it helps to know that as of December 1, 2021, Honda set up a purely brand new subsidiary by the name of Honda Power Pack Energy India Pvt Ltd, which besides offering a massive support system to the OEMs operating in the EV sphere will also help in carbon neutrality, such a huge aim for companies in India.

To understand what Honda’s first-of-its-kind battery sharing subsidiary’s offering in India, it helps to note what the revered Economic Times had to say:

“It is planned to start battery sharing service for electric auto-rickshaws (E-auto) from the first half of 2022 in Bengaluru, Karnataka and expand operations in other Indian cities in a phased manner,” the statement said.

In addition to the battery sharing service, the new company will closely work with multiple vehicle OEMs- those that aim to integrate Honda’s battery pack into their vehicles.”

So how will this pan out for those in the vehicle OEM space? How do they stand to be benefitted from Honda?

By expanding vehicle OEMs, applications, and service areas, it aims to onboard more drivers, which will further enhance service convenience, so shared the company’s sources in the country.

However, having said that, the next big step for the EV space in India sees Honda working ceaselessly to launch an electric scooter, which will be ready not before the next fiscal year.

While models like Honda Activa and Shine have already found a sweet spot among the Indian consumers, the yet-to-be-launched electric scooter, one reckons, will find focus soon as the firm is ready to roll out its EV magic on two wheels.

As a matter of fact, at the conclusion of the festive season of India in 2021, Honda was already working with its dealer partners to understand the feasibility run of the said scooter, which in layman terms refers to a test or trial run that helps cover divergent areas associated with the manufacturing and design- technology, among the salient features.

Atsushi Sogata, meanwhile, from the Honda stable further cemented the company’s stance on the product yet to arrive in the Indian market: In-depth details are yet to be finalized but “we have made a commitment to launch (EV product) within the next financial year”, he noted.

These are interesting times to be in the EV space in India

Pravaig Dynamics

These are both challenging and interesting times to be in the space of electric vehicles, more specifically if you are a carmaker based in a country like India.

Challenging for the simple reason that tasked with a massive reality of air pollution with overcrowded urban cities nearly strangulated by toxic fumes and health hazards, India is on the edge in some ways.

And interesting times because any sustainable or green solution for the long run can prove to be such a boon in these times for a developing and growing economy like India.

That there still exists very much a vacuum in the mainstream adoption of EVs in our everyday life opens the door of opportunities to a market on the cusp of change. A market that despite ifs and butts and existential realities such as – when will proper charging infrastructure come up and how long can an EV go for me in the city- is at least, receptive to the concept.

A concept whose time has come simply down to the massive gains that we all stand to achieve if and when EVs become mainstream.

For a clean green resume, India with its ambitious plans to walk the path toward carbon neutrality realizes the massive gains that are tied to walking down the EV way.

This also essentially means refraining the ICE way and adopting a greener, more scientific method to address the everyday conundrum: transport and commutation.

That there’s sizeable growth in this sphere in the country can be simply understood by a figure that a recent study conducted by RBSA advisors provides. So what is it?

Pravaig MK1

By 2030, the EV market in the country is expected to grow by $150 billion.

Now for a country whose total, EV sales as of 2020-21 accounted for just a little over 1 percent of the car sales (overall), there could be nothing more encouraging as this number- right?

In here, by the way, also rests a challenge, rather a need of the hour.

India needs to open its mind and arms to the concept of shared electric mobility, in order to embrace a promising future that is about connected (EV) mobility.

Only this can save the country worth one gigatonne of carbon dioxide emissions by 2030. While carmakers and popular EV flagbearers are coming forward to make the country take the next big plunge, what will be brilliant will be to see the country make the shift, one whose time has come! 

Honda takes a big vital step toward the EV ecosystem in India

As a carmaker, honestly speaking, Honda needs no introduction. To most, it’s one of the most competent and sturdiest of all carmakers in the whole wide world. Its machines are, general view and feeling substantiate, the ones that go the long distance.

When you take a Honda home, you don’t just take back a four-wheel experience, you align yourself with a certain degree of assurance that’s hard to find. The Japanese, known for their penchant for discipline and dedication, have extended this very working DNA into their cars.

But what also generates a fair amount of curiosity is whether Honda will eventually penetrate the EV market with rich aplomb.

And while there’s no fixed date pertaining to the above question, what’s certainly known as on date is that Honda has, after all, taken a big necessary step in the realm of EVs.

And that too in the market that’s buzzing with an incessant drive for EV adoption and an EV-enabled future: Asia! One of the most widely known pieces of news in these days of early December is that Honda has already set up a battery sharing subsidiary in India that has a total invested sum of no fewer than 135 crores

This new subsidiary, Honda Power Pack Energy India Pvt Ltd, will look to offer the provision of battery sharing in the space of small mobility.

The buzz surrounding the setup of Honda Power Pack Energy India Pvt ltd also stems from the fact that the newly set-up subsidiary will also provide technical support to OEM manufacturers in the auto space.

When you are a carmaker or an OEM in the EV space, there are plenty of areas that warrant one’s attention. Take things like – issues related to limited range, the challenge of offering a bigger range than one currently on offer, the aspect of the high cost of batteries, things like long-term charging. Now Honda Power Pack Energy India Pvt ltd will address all of these various aspects intricately connected to the sphere of EVs.

A media statement aimed to explain the larger context of Honda’s brand new facility in India offered the following insight:

“It is planned to start battery sharing service for electric auto-rickshaws (E-auto) from the first half of 2022 in Bengaluru, Karnataka and expand operations in other Indian cities in a phased manner.”

The immediate future of Bolt EV of General Motors

Among the most renowned carmakers in the world, General Motors of the United States has hit a snag where it comes to the production of the Bolt EV.

But in order to understand the existential and immediate future of a popular offering in the hatchback space from Chevrolet, one needs to take stock of its immediate past.

In what turned out to be a huge letdown for the massive carmaker, GM had already recalled the Bolt EVs at the back of an issue of battery fires in these cars.

A series of fires in the car definitely meant that something related to the battery modules had to be attended to and so it was done. The cars were recalled and a major process of replacing the existing battery modules began at GM.

Though for any carmaker a step backward in just one car variant is a huge downer, let alone GM, one of the best offerings from the land of Detroit to a global automotive landscape.

The development reported to be down to a manufacturing defect in the battery cells of the Bolt EV made massive news. And not to forget- disparaging one at that!

All eyes, with much keenness, focused attention on what lay ahead. And now, GM has finally made an announcement in the context of the imminent future of its EV bolt.

It appears that the halt in production of the Bolt EV will continue and a restart is expected not before the third week of January 2022, as it turns out.

While the scenes back in August of 2021 weren’t any inspiring with no fewer than 1,40,000 car models recalled, a reprieve is expected to be achieved come the new year.

One is really forward to seeing what the car with a battery pack of 60- Kwh can do in the near future in terms of driving sales for GM. Watch this space for more developments with regards to the Bolt EV!

Elon Musk and December 3 and the social media poll on Tesla shares

One of the world’s most enduring enigmas and genius inventors of its modern history, Elon Musk continues to be the shining star and subject of massive envy that he is.

For someone who is a self-taught inventor and a massive promoter of the idea, the philosophy and the tectonic shift that mankind is gradually making- one known as EV- Elon Musk inspires as much as he collects accolades.

Had he not been there then perhaps it’s only fair to say that the phrase Tesla would only have remained in the history books for being the great definition of a one-of-a-kind Croatian mind- second to none- whose creations are a gift for all of mankind!

But on December 3, the man behind the famous Model S and Model 3 has done something so humungous, if it must be said so, that he has, once again, begun to dominate the discussion and become a popular social media trend.

According to news updates and reports, as of December 3, 2021, Elon Musk sold shares worth $10.9 billion of none other than Telsa.

To help understand why this was done, here’s what a popular news channel based in India had to say:

In early November, the world’s richest person tweeted that he would sell 10 percent of his stock if users of the social media platform approved. A majority of them had agreed with the sale on the Twitter following which he sold the shares. However, according to a report by the Wall Street Journal, Musk was facing a $3.5 billion tax bill on his options at the time. This would have amounted to more if Tesla stock did not plunge following the Twitter poll — which actually saved him $480 million.

Following a flurry of options exercise, Musk still has an option to buy about 10 million more shares at $6.24 each, according to Reuters.  Musk’s option expires in August next year, which is a reason why he has gone on a share selling spree.

Tesla shares, though dropping after Musk’s Twitter poll, held to the $1 trillion market cap to become the most valuable car-making company in the world. on Friday, Tesla share was selling at $1,084 apiece.

Now, all of that said, even though this is a massive transaction and according to some experts, a big business deal for the great Musk, he will still, as it’s known, pay taxes from 2012 to 2021 at a rate of 50 percent.

And as of Friday, the following is known about Musk: If Musk goes by his promise in the Twitter poll, he has to sell around 17 million shares. This means that he has to say goodbye to another 10 million shares to fulfill his target.