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Luxury car maker <keyword id="19980471" type="General" weightage="20" keywordseo="Mercedes-Benz" source="keywords" meta.keywordsubtype="org" meta.entityname="Mercedes-Benz" meta.hostid="261" meta.entityid="Mercedes-Benz">Mercedes-Benz</keyword> India on Monday expanded its <keyword id="20763359" type="General" weightage="20" keywordseo="Battery-Electric-Vehicle" source="keywords">Battery Electric Vehicle</keyword> (BEV) range in the country with the launch of the locally produced <keyword id="23188212" type="General" weightage="20" keywordseo="EQS-580-4MATIC" source="keywords">EQS 580 4MATIC</keyword>. India is the first country outside the US to start the <keyword id="20805504" type="General" weightage="20" keywordseo="local-production" source="keywords">local production</keyword> of the seven-seater electric SUV. EQS SUV 580 4MATIC is the second model, after the EQS sedan, to be locally produced at company's Pune-based manufacturing plant. "This will be our sixth EV in India, and the second car to be locally produced in India. We are also proud that India becomes the first market out of the US to locally manufacture the EQS," Mercedes-Benz India Managing Director and CEO Santosh Iyer told PTI in an interaction. The move to manufacture the product locally outlines the company's commitment to electrification and increasing product portfolio offering choices to customers, he added. "EQS SUV's localisation underpins our deep commitment to grow the Indian <keyword id="23188213" type="General" weightage="20" keywordseo="luxury-electric-car" source="keywords">luxury electric car</keyword> market and reinforce our commitment for a greener and sustainable future," Iyer said. The move also supports the government's vision of Make-in-India, he said. Iyer said local production has led to a significant advantage in terms of pricing the electric SUV. The introductory price of EQS SUV 580 4MATIC starts at Rs 1.41 crore which should also make a lot of customers shift to EVs much faster in terms of transition, he said. When asked about the demand for green vehicles, Iyer said the sales of EVs were growing in the country with even high-end products finding acceptance. "The EQA sedan which was introduced in India around 18 months back, we have sold more than 500 cars. It's a car costing more than Rs 1.6 crore. Our total penetration of EVs is 5 per cent today, it's growing. For sure, customer acceptance is there," he stated. Iyer noted that the company remains committed to offer top-end luxury EV products offering higher range in the market. He noted that there may be more opportunities in the entry EV segment but the focus of the company firmly remains on bringing luxury products in the market. "To bring products at lower price points, that is not our current strategy," Iyer said. The company aims to offer products with higher driving range, a factor that leads to bigger battery and escalation in price, he added. The EQS SUV 580 4MATIC is India's longest range electric SUV with ARAI certified range of 809 kms. Iyer said the company remains committed to the Indian market and has announced an additional investment of Rs 200 crore earlier towards manufacturing operations, new product start-ups and digitisation of manufacturing processes. The company till date has invested over Rs 3,000 crore in India, he added. In the January-September period this year, Mercedes-Benz India has launched three new BEVs ' EQA, EQS SUV 580 and Mercedes-Maybach EQS 680 SUV. With the EQS SUV 580 4MATIC, the company now offers the EQA, EQB, EQE SUV, EQS SUV, EQS sedan and Maybach EQS SUV 680 in the market. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/webstories/arkade-developers-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/113384216.cms">Arkade Developers IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/tech/mobile/news/xiaomi-and-samsung-accused-of-colluding-with-amazon-and-flipkart/articleshow/113381204.cms">Xiaomi and Samsung accused of colluding with Amazon and Flipkart</a> <a href="https://www.businessinsider.in/tech/mobile/news/motorola-edge-50-neo-with-dimensity-7300-50mp-camera-launched-in-india/articleshow/113386868.cms">Motorola Edge 50 Neo with Dimensity 7300, 50MP camera launched in India</a>

Mercedes expands BEV range; rolls out second locally produced model in India

New Delhi: The adoption of <keyword id="20643295" type="General" weightage="100" keywordseo="Electric-two-wheeler" source="keywords">electric two-wheeler</keyword> vehicles in <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> is on a gradual rise and it is expected that their share will rise to upwards of 13 per cent by 2026-27, investment banking company <keyword id="19905137" type="General" weightage="20" keywordseo="Jefferies" source="keywords" meta.keywordsubtype="org" meta.entityname="Jefferies" meta.hostid="261" meta.entityid="Jefferies">Jefferies</keyword> asserted in a report. In the financial year that ended in March 2024, the share of electric two-wheelers was at 5 per cent. Share of EVs in two-wheeler sales rose from just 0.4 per cent in 2020-21 to 5.4 per cent by early 2023, led by rising subsidies and new launches. However, Jefferies claimed that a subsequent reduction in incentives has resulted in the share remaining in the 4-7 per cent range for most of the past 24 months, despite the introduction of lower-priced vehicles by manufacturers. "We currently assume share of E2Ws rising from 5 per cent (0.9mn units) in FY24 to 7 per cent/10 per cent/13 per cent (1.4mn/2.3mn/3.4mn units) in FY25E/FY26E/FY27E, although we now see a downside risk to these estimates in the context of the new scheme targeting just 2.5mn E2Ws over two years," Jefferies said in its report released earlier this week. <keyword id="19897349" type="General" weightage="20" keywordseo="Ola-Electric" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola Electric" meta.hostid="261" meta.entityid="Ola Electric">Ola Electric</keyword>, which has recently become a publicly listed company, has emerged as the dominant manufacturer in India's electric two-wheelers market, said Jefferies, noting that its market share rose from 21 per cent in 2022-23 to 35 per cent in 2023-24 and further to 49 per cent in 1Q-2024-25. However, as per the Jefferies report, Ola's market share has subsequently fallen to 31 per cent in August and just 29 per cent in September (month-to-date). Bajaj, TVS and Ather, on the other hand, have gained 5-9 percentage points each since June quarter, it said. This week, the Union Cabinet has approved a scheme for the promotion of electric mobility in the country. The scheme has an outlay of Rs 10,900 crore over two years. The Cabinet's approval for the 'PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme' was based on a proposal from the Ministry of Heavy Industries (MHI). Among others, subsidies or demand incentives worth Rs 3,679 crore would be provided to incentivise e-2Ws, e-3Ws, e-ambulances, e-trucks and other emerging EVs. The scheme will support 24.79 lakh e-2Ws, 3.16 lakh e-3Ws, and 14,028 e-buses, a release said. The Ministry of Heavy Industries is also introducing e-vouchers for EV buyers to avail of demand incentives under the scheme.

Electric two-wheeler adoption in India rising, 13% share expected by 2026-27: Jefferies

Italian <keyword id="19946118" type="General" weightage="20" keywordseo="luxury" source="keywords">luxury</keyword> carmaker <keyword id="20673655" type="General" weightage="100" keywordseo="Maserati" source="keywords" meta.keywordsubtype="org" meta.entityname="Maserati" meta.hostid="153" meta.entityid="Maserati">Maserati</keyword> believes <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> has the potential to be among its top ten global markets in the mid term with the country's <keyword id="20041662" type="General" weightage="20" keywordseo="entrepreneurs" source="keywords">entrepreneurs</keyword> driving its sales, according to the company's Head of Overseas Markets, <keyword id="22976712" type="General" weightage="20" keywordseo="philippe-claverol" source="keywords">Philippe Claverol</keyword>. The company, which on Friday launched its <keyword id="22975850" type="General" weightage="20" keywordseo="granturismo" source="keywords">GranTurismo</keyword> model with prices starting at Rs 2.72 crore, is also studying the feasibility of introducing its <keyword id="19906970" type="General" weightage="20" keywordseo="electric-vehicle" source="keywords">electric vehicle</keyword> range in India. "Maserati is a luxury brand, so we don't look at huge volume for us. A big market for us is a market where we sell 500 cars a year... but I think in mid term, in few years, I think in India, we can reach this kind of 500 (units a year)," Claverol told PTI here on the sidelines of the launch. He, however, said volume isn't "an objective in itself" for Maserati. He further said,"I know who are the top markets of Maserati worldwide. I think India can become one of the top 10 markets for Maserati in the mid term." Currently, North America, Italy, Switzerland, China, Japan, Australia, Taiwan and the UAE are the top global markets for Maserati and India with less than 50 units sold last year is still a small market, he added. Yet, Claverol said, India is an important market for Maserati. "It is a land of entrepreneurs. A vast majority, 80 per cent of our customers in India are entrepreneurs," he said. Also, India is a country with a lot of appreciation for luxury products, he said, adding "we feel that there is a good match". In order to enhance its presence in India, Maserati is expanding sales network, he said. Maserati already has a <keyword id="20400384" type="General" weightage="20" keywordseo="dealership" source="keywords">dealership</keyword> in Mumbai and opened a new one on Friday here in the national capital and will open one in Bengaluru later this year, Claverol said. "We see that the North India market is bigger actually than the Mumbai market and we also think that Bengaluru is the third pillar. This dealership expansion is also because we want to go where the markets are in terms of volume," he said. Asked about plans for launching electric vehicles in India, Claverol said Maserati has the electric version of the conventional engine models under the Folgore range globally and the company will study the feasibility of bringing it in India. "We will, with our partners, start to look at how is the market, how to train our people, how to train the technicians, how to analyse, how to build the right offer, the pricing, the charging solution, and so on, and then, once we will be ready, we will look at the pricing, and we will obviously try to launch the Folgore range as well," he said. Asked about the timeline for a possible launch of the electric range, he said,"The sooner, the better. The cars are available."

India has potential to be in Maserati's top 10 global markets in mid term: Co-official

<keyword id="19910508" type="General" weightage="20" keywordseo="Amazon-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Amazon India" meta.hostid="261" meta.entityid="Amazon India">Amazon India</keyword> on Monday said that it has formed a strategic <keyword id="19900447" type="General" weightage="20" keywordseo="partnership" source="keywords">partnership</keyword> with electric mobility firm <keyword id="20992233" type="General" weightage="20" keywordseo="Gentari" source="keywords">Gentari</keyword> for its EV deployment programme as it targets a fleet of 10,000 <keyword id="19895203" type="General" weightage="20" keywordseo="electric-vehicles" source="keywords">electric vehicles</keyword> for last-mile deliveries by 2025. Under the collaboration, Gentari Green Mobility Business will procure and deploy electric vehicles for the company in the next three years besides providing comprehensive fleet management services to the delivery service partners (DSPs) to ensure the seamless operation and upkeep of the <keyword id="20475726" type="General" weightage="20" keywordseo="EV-fleet" source="keywords">EV fleet</keyword>, Amazon India said. The partnership will provide Delivery Service Providers (DSPs) access to more electric three-wheelers for Amazon deliveries, it added. "We aim to empower our delivery service partners by providing them access to the right electric vehicles, end-to-end vehicle life cycle management services, as well as charging and parking facilities," said Abhinav Singh, VP (Operations) at Amazon India. The company deployed more than 7,200 EVs in India at the end of 2023, and it remains well on track to achieve its goal of deploying 10,000 EVs in the domestic market by 2025, he said. Amazon India has operations across 400 cities in the country. "As we work together to deploy more EVs and contribute to India's net zero targets, I'm confident this collaboration will pave the way for a cleaner and electric future for India's transportation sector," said Nikhil Thomas, CEO of Gentari Green Mobility India. Gentari Green Mobility India offers a comprehensive suite of services including a wide network of EV charging points, EV subscriptions through Vehicle-as-a-Service (VaaS), and personalised value-added services. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/saraswati-saree-depot-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112457330.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/saraswati-saree-depot-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112457330.cms" target="_blank">Saraswati Saree Depot IPO – Price band to risk factors, all you need to know</a><a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank">India’s wearables market decline for the first time as smartwatch shipments fall</a><a href="https://www.businessinsider.in/business/news/ola-wants-to-re-enter-the-quick-commerce-business-to-take-on-blinkit-and-swiggy-instamart/articleshow/112364583.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/news/ola-wants-to-re-enter-the-quick-commerce-business-to-take-on-blinkit-and-swiggy-instamart/articleshow/112364583.cms" target="_blank">Ola wants to re-enter the quick commerce business to take on Blinkit and Swiggy Instamart</a>

Amazon India partners with Gentari for 10,000 EV fleet by 2025

<keyword id="19906967" type="General" weightage="20" keywordseo="Tata-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Motors" meta.hostid="153" meta.entityid="Tata Motors">Tata Motors</keyword> on Wednesday said it has tied up with <keyword id="20243465" type="General" weightage="20" keywordseo="Delta-Electronics-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Delta Electronics India" meta.hostid="153" meta.entityid="Delta Electronics India">Delta Electronics India</keyword> and <keyword id="22863979" type="General" weightage="20" keywordseo="Thunderplus-Solutions" source="keywords" meta.keywordsubtype="org" meta.entityname="Thunderplus Solutions" meta.hostid="153" meta.entityid="Thunderplus Solutions">Thunderplus Solutions</keyword> to set up <keyword id="20111395" type="General" weightage="20" keywordseo="charging-infrastructure" source="keywords">charging infrastructure</keyword> for its range of <keyword id="21658969" type="General" weightage="20" keywordseo="electric-commercial-vehicles" source="keywords">electric commercial vehicles</keyword> (CVs). As part of the MoU inked between the parties, 250 new fast-charging stations for electric commercial vehicles would be set up across the country. Strategically located in and around over 50 cities, including Delhi, Mumbai, Chennai, Bengaluru, Pune, and Kochi, among others, these new charging stations will significantly increase the existing network of 540 commercial vehicle charging points, Tata Motors said in a statement. Basis its understanding of the commercial EV movement, the commercial vehicle major will recommend optimal locations and nearest dealerships for setting up the fast-charging stations, the company said. While Delta Electronics will supply the necessary hardware, Thunderplus Solutions will install and operate them, it added. E-commerce companies, parcel and courier service providers, among other industries, are increasing the adoption of commercial EVs for last-mile deliveries. "Expanding the available charging infrastructure on high-use routes will encourage more customers to opt for electric commercial vehicles and improve vehicle uptime, resulting in higher revenues and better profitability, while contributing towards a cleaner, greener environment," Tata Motors Commercial Vehicles Vice President and Business Head -- SCV &amp; PU -- Vinay Pathak said. Currently, Tata Motors sells Ace EVs to cater to various last-mile delivery requirements. The model is supported by over 150 electric vehicle service centres across the country. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-gained-over-3-million-subscribers-in-june-vi-lost-nearly-a-million/articleshow/112670406.cms">Reliance Jio and Airtel gained over 3 million subscribers in June, Vi lost nearly a million</a> <a href="https://www.businessinsider.in/tech/mobile/news/the-iphone-pro-models-will-be-made-in-india-for-the-first-time-this-year/articleshow/112653019.cms">The iPhone Pro models will be made in India for the first time this year</a> <a href="https://www.businessinsider.in/stock-market/webstories/orient-technologies-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112646237.cms">Orient Technologies IPO – Price band to risk factors, all you need to know</a>

You Searched For "electricity companies india" and got 5 results

Mercedes expands BEV range; rolls out second locally produced model in India

PTI

Electric two-wheeler adoption in India rising, 13% share expected by 2026-27: Jefferies

ANI

India has potential to be in Maserati's top 10 global markets in mid term: Co-official

PTI

Amazon India partners with Gentari for 10,000 EV fleet by 2025

PTI

Tata Motors ties up with two firms to expand charging infra for electric CVs

PTI

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