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As electric cars become the flavour of the season, <keyword id="6358540" type="General" weightage="20" keywordseo="sony" source="Orion">Sony</keyword> and <keyword id="20630" type="General" weightage="20" keywordseo="honda" source="Orion">Honda</keyword> on Friday announced a strategic alliance to form a New Company that aims to create the next era of mobility and mobility services. The sales of the first <keyword id="13307669" type="General" weightage="20" keywordseo="ev-model" source="Orion">EV model</keyword> are expected to start in 2025. The two companies plan to engage in the joint development and sales of high value-added battery electric vehicles (EVs) and commercialise them in conjunction with providing mobility services. The New Company is expected to plan, design, d<keyword id="186291" type="General" weightage="20" keywordseo="ev" source="Orion">ev</keyword>elop, and sell the EVs, but not own and operate manufacturing facilities, so Honda is expected to be responsible for manufacturing the first EV model at its vehicle manufacturing plant. It is expected that a mobility service platform will be developed by Sony and made available for the New Company, they said in a statement. "Through this alliance with Honda, we intend to build on our vision to 'make the mobility space an emotional one', and contribute to the evolution of mobility centred around safety, entertainment and adaptability," said Kenichiro Yoshida, Representative Corporate Executive Officer, Chairman, President and CEO, Sony. The two companies will proceed with negotiations toward executing various definitive binding agreements, including a joint development agreement and a joint venture agreement, with a goal of establishing the New Company within this year. "Although Sony and Honda are companies that share many historical and cultural similarities, our areas of technological expertise are very different. Therefore, I believe this alliance which brings together the strengths of our two companies offers great possibilities for the future of mobility," said Toshihiro Mibe, Director, President, Representative Executive Officer and CEO, Honda Motor. In its bid to catch up with Elon Musk-run Tesla, Ford Motor Company on Wednesday announced to increase its <keyword id="381751" type="General" weightage="20" keywordseo="electric-vehicle" source="Orion">electric vehicle</keyword> (EV) investment to $50 billion through 2026, up from the previous $30 billion investment announcement by 2025. The automaker aims to produce more than 2 million electric vehicles annually by 2026, representing about one-third of Ford's global volume, rising to half by 2030. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/indian-markets-are-the-second-worst-performers-this-week-in-asia-hit-by-the-russia-ukraine-war/articleshow/89984960.cms" style="">Indian markets are the second worst performers this week in Asia hit by the Russia-Ukraine war</a> <a href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-news-board-approves-14500-crore-fundraising-plan/articleshow/89983243.cms" style="">Even a big fundraise is not helping Vodafone investors as Russia-Ukraine conflict takes the wind out of global markets</a> <a href="https://www.businessinsider.in/tech/mobile/news/upcoming-new-smartphone-of-oneplus-samsung-and-iphone-in-march-2022/slidelist/89987211.cms">Upcoming smartphones launching in India in March 2022</a>

Sony, Honda to form new company to sell EVs together

The rise in <keyword id="20532742" type="General" weightage="20" keywordseo="EV-battery-manufacturing" source="keywords">EV battery manufacturing</keyword>, alongside the '<keyword id="20018809" type="General" weightage="20" keywordseo="Make-in-India" source="keywords">Make in India</keyword>' initiative, will lower manufacturing costs and boost <keyword id="19914921" type="General" weightage="20" keywordseo="EV-sales" source="keywords">EV sales</keyword> in the country, according to industry experts. According to Liz Lee, Associate Director at Counterpoint Research, <keyword id="21214947" type="General" weightage="20" keywordseo="Indias-EV-landscape" source="Orion">India's EV landscape</keyword> is on the cusp of significant growth. "Government initiatives such as the <keyword id="8941225" type="General" weightage="20" keywordseo="PLI-scheme" source="Orion">PLI scheme</keyword> for <keyword id="16365365" type="General" weightage="20" keywordseo="Advanced-Chemistry-Cells" source="Orion">Advanced Chemistry Cells</keyword> (ACC) and the recent reduction in import duties on EVs under $35,000 to 15 per cent are game changers," said Lee. All this not only opens doors for <keyword id="107096" type="General" weightage="20" keywordseo="Tesla" source="Orion">Tesla</keyword> but also signals India's readiness to welcome significant investments and foster a new ecosystem for EVs and their component suppliers. "It is a clear sign that India's journey to become a major player in the global <keyword id="186291" type="General" weightage="100" keywordseo="EV" source="Orion">EV</keyword> market is accelerating," Lee noted. The EV ecosystem is in a fairly nascent stage. "While the conventional automobile manufacturing ecosystem is mature, the building blocks for a robust smart car manufacturing ecosystem, from the battery to infotainment to sensors to full ADAS/ADS, beckon," said Research Vice President Neil Shah. "This would span from the likes of Qualcomm and MediaTek designing and offering advanced auto components to BlackBerry providing safety and security software, to Foxconn reducing barriers for new entrants to India with its innovative MIH consortium-based 'localised' design and manufacturing model," Shah explained.

India's EV landscape set to be transformed with key govt initiatives: Industry experts

<ul class="summary-list"><li>Shares of ChargePoint, EVgo, Volta, and other <keyword id="12000721" type="UNKNOWN" weightage="60" keywordseo="ev-charging" source="Orion">EV charging</keyword> stocks surged Monday. </li></ul><ul class="summary-list"><li>The <keyword id="11930606" type="UNKNOWN" weightage="60" keywordseo="infrastructure" source="Orion">infrastructure</keyword> bill promises $7.5 billion to expand a national EV-charging network.</li></ul>The infrastructure package boosted electric-vehicle charging stocks Monday after Congress over the weekend passed the $1 trillion infrastructure bill, which includes $7.5 billion for the <keyword id="11893543" type="UNKNOWN" weightage="60" keywordseo="ev" source="Orion">EV</keyword> sector. <a href="https://markets.businessinsider.com/stocks/evgo-stock">EVgo</a> jumped 17%, <a href="https://markets.businessinsider.com/stocks/vlta-stock">Volta</a> climbed over 11%, while <a href="https://markets.businessinsider.com/stocks/chpt-stock">ChargePoint</a> and <a href="https://markets.businessinsider.com/stocks/blnk-stock">Blink Charging</a> were both up nearly 10%. The infrastructure bill includes upwards of <a href="https://www.cnbc.com/2021/11/05/house-passes-bipartisan-infrastructure-bill-sends-it-to-biden.html">$550 billion</a> in new funding for transportation, broadband, and utilities, which legislators say will address a broad range of issues. It also aims to build a national network of electric-vehicle chargers over the next five years. The move is part of the Biden administration's push for more climate-friendly initiatives like reducing carbon emissions and electrification. EVs, at present, are held back by limitations on driving range, due in part to a lack of charging stations. The inconvenience of charging an electric vehicle has even led some customers <a href="https://www.businessinsider.com/electric-car-owners-switching-gas-charging-a-hassle-study-2021-4">to switch back to gas vehicles. </a>Companies like EVgo, Volta, and others in the EV industry could see a boost in share price as EVs become more pervasive. Meanwhile, investors are also riding optimism from the <a href="https://www.nytimes.com/live/2021/11/01/world/cop26-climate-change-summit">United Nation's COP26 climate summit</a> in Glasgow, Scotland, where talks centered on EVs.

Electric vehicle charging stocks surge as Congress clears infrastructure bill with $7.5 billion for EV sector

Alarmed at the unabated EV fire incidents, the Centre has now sent show cause notices to EV manufacturers like <keyword id="4393078" type="General" weightage="100" keywordseo="ola-electric" source="Orion">Ola Electric</keyword>, <keyword id="6077703" type="General" weightage="80" keywordseo="okinawa-autotech" source="Orion">Okinawa Autotech</keyword> and <keyword id="7583348" type="General" weightage="80" keywordseo="pure-ev" source="Orion">Pure EV</keyword>, among others, warning them why a penal action should not be taken against them for delivering faulty electric two-wheelers to the public. Reliable sources said that the EV makers have been given time till July end to respond in detail to the notices. Once the responses are in, the government will decide which penal action is to be taken, if any, against the EV makers at fault. Last month, the <keyword id="2619929" type="General" weightage="50" keywordseo="central-consumer-protection-authority" source="Orion">Central Consumer Protection Authority</keyword> (CCPA), which comes under the Union Consumer Affairs Ministry, sent notices to Pure EV and <keyword id="12512499" type="General" weightage="80" keywordseo="boom-motors" source="Orion">Boom Motors</keyword> after their e-scooters exploded in April. The Ministry of <keyword id="61316" type="General" weightage="80" keywordseo="road-transport" source="Orion">Road Transport</keyword> and Highways is also awaiting responses from EV makers on show cause notices sent to them. The preliminary findings from the government-constituted probe committee on EV fires also identified issues with battery cells or design in nearly all of the electric two-wheeler fire incidents in the country. The experts found defects in battery cells as well as battery design in nearly all EV fires. The Defence Research and Development Organisation (<keyword id="6355142" type="General" weightage="80" keywordseo="drdo" source="Orion">DRDO</keyword>), which was earlier tasked with investigating electric two-wheeler fire incidents by the Road Transport and Highways Ministry, also found serious defects in the EV two-wheeler batteries. These defects occurred because the electric two-wheeler manufacturers like Okinawa Autotech, Pure EV, Jitendra Electric Vehicles, Ola Electric and Boom Motors may have used "lower-grade materials to cut costs", the DRDO probe had revealed. The <keyword id="59330" type="General" weightage="50" keywordseo="bureau-of-indian-standards" source="Orion">Bureau of Indian Standards</keyword> (BIS) has now issued new performance standards for lithium-ion batteries to safeguard the consumers amid the rising EV fire episodes in the country. Union Minister for Road Transport Nitin Gadkari has already warned EV makers of strict action if they are found negligent. "If any company is found negligent in their processes, a heavy penalty will be imposed and a recall of all defective vehicles will also be ordered," he had tweeted. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/politics/india/news/eknath-shinde-wants-a-breather-and-spend-time-with-families/articleshow/92666818.cms">Eknath Shinde wants a 'breather' and spend time with families</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/environment/news/30-large-reservoirs-in-india-dip-to-a-decadal-low-after-erratic-rains-in-june/articleshow/92665877.cms">30 large reservoirs in India dip to a decadal low after erratic rains in June</a>

EV manufacturers Ola Electric, Okinawa under fire, Centre sends show cause notice

The Centre is considering a request from Elon Musk-run <keyword id="107096" type="General" weightage="100" keywordseo="tesla" source="Orion">Tesla</keyword> to lower tariffs for imported electric vehicles (EVs) as the company looks into setting up a plant in the country, a media report said on Monday. According to the Financial Times, citing sources, the automaker has asked the government for an initial tariff concession that would offset <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>'s steep customs duties of 70 per cent for cars under $40,000 and 100 per cent for cars above $40,000. "Their view has always been that they need some tariff concessions at least in the interim period. It would have some kind of sunset clause," one of the officials was quoted as saying. Tesla had asked for the concession as a condition for constructing a plant in the country. The reduced tariffs would apply to all EV manufacturers. The officials stated that the reduced rate under consideration would be 15 per cent for EVs of all prices, but that the policy had not yet been agreed upon within the government, the report mentioned. "We want to create a package which is good for India and which doesn't become a curated package for one company. Others are free to take advantage of this window, subject to meeting these kinds of requirements," one of the officials stated. In September, a report said that Tesla is planning to build a factory for battery storage in India and has submitted a proposal for the same to the government. The electric car-maker proposed supporting the country's battery storage capabilities with its 'Powerwall' during recent meetings. Musk is also aiming to build a Tesla supply system in India. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/british-luxury-carmaker-lotus-cars-enters-the-indian-market-with-2-55-electric-suv/articleshow/105092076.cms">Lotus Cars enters India with Eletre, a luxury electric SUV priced starting at ₹2.55 crore</a><a href="https://www.businessinsider.in/sports/news/cricketers-who-played-a-crucial-role-on-field-while-injured/slidelist/105177391.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/news/cricketers-who-played-a-crucial-role-on-field-while-injured/slidelist/105177391.cms" target="_blank">From Maxwell to Kumble – When the injured stood up and stole the show</a> <a href="https://www.businessinsider.in/tech/news/ex-apple-employees-launch-ai-pin-a-wearable-which-wants-to-replace-your-smartphone/articleshow/105113255.cms">Ex-Apple employees launch AI-Pin, a wearable which wants to replace your smartphone</a>

Centre considers lowering EV tariff to lure Musk's Tesla: Report

As the world celebrates World EV Day, <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>'s significant progress in adopting <keyword id="19895203" type="General" weightage="100" keywordseo="electric-vehicles" source="keywords">electric vehicles</keyword> (EVs) across various categories is commendable, however, there is still a long way to go. The government of India's <keyword id="23096041" type="General" weightage="20" keywordseo="Vaahan-Dashboard" source="keywords" meta.keywordsubtype="org" meta.entityname="Vaahan Dashboard" meta.hostid="153" meta.entityid="Vaahan Dashboard">Vaahan Dashboard</keyword> data shows an increasing trend to shift towards green mobility solutions. The most notable trend in EV penetration has been witnessed in the three-wheeler category, where EVs have surged ahead in overall sales. According to the data, 53.61% of all new three-wheeler vehicles purchased this year (2024) were electric, making this segment the leader in <keyword id="20421629" type="General" weightage="20" keywordseo="EV-adoption" source="keywords">EV adoption</keyword>. The two-wheeler segment has also shown encouraging signs of EV adoption, with electric vehicles accounting for 4.97% of all two-wheeler sales so far in 2024. While the percentage is lower compared to <keyword id="20412606" type="General" weightage="20" keywordseo="three-wheelers" source="keywords">three-wheelers</keyword>, the two-wheeler category holds significant potential for growth, given its dominance in India's overall vehicle sales market. As more consumers seek cost-effective and <keyword id="20991927" type="General" weightage="20" keywordseo="environmentally-friendly" source="keywords">environmentally friendly</keyword> alternatives, the penetration of EVs in this segment is expected to grow further in the coming years. However, in the four-wheeler segment, the adoption of EVs remains relatively low, with electric cars making up just 2.14% of total car sales this year. Despite this, the increasing availability of EV models and government incentives are expected to drive further growth in this segment. Interestingly, the penetration of electric buses is higher than that of electric cars, with 3.20% of all new buses sold in 2024 being electric. This trend highlights the growing importance of sustainable public transport solutions as cities aim to reduce emissions and promote cleaner alternatives in mass transit. "Electric vehicles offer a very compelling solutions because they do not emit any tailpipe emissions so that improves their air quality that reduces their air pollution. It also reduces the carbon emission so it helps India to meet with its climate goals and generally, electric vehicles have lower operating cost as compared to the IC engine vehicles," said Samhita Shiledar, Director RMI to ANI. On a state-wise level, the Vaahan dashboard data highlighted that Goa leads the country in EV penetration, with 14.20% of all new vehicles sold this year being electric. Tripura ranks second, followed by Chandigarh in third place. Delhi also stands out with a 10.72% penetration of EVs in total vehicle sales, showcasing the capital's push towards sustainable urban mobility. On the other hand, Himachal Pradesh reported the lowest EV penetration, with only 1.09% of new vehicles sold being electric. In terms of total number of EV sales across all segments in India, the two-wheeler category dominates the electric vehicle market in India, accounting for approximately 51% of total EV sales this year. As World EV Day highlights the global commitment to cleaner mobility solutions, India's data reflects a promising shift but a long way to go towards electrification across various vehicle segments.

World EV Day: 50%+ three-wheelers, 5% of 2-wheelers, and 2% of cars purchased in 2024 are EVs.

<ul class="summary-list"><li>The CEO of <keyword id="20763638" type="General" weightage="20" keywordseo="Tesla-rival" source="keywords">Tesla rival</keyword> Lucid had a scathing assessment of the EV market in the US.</li><li><keyword id="23975725" type="General" weightage="20" keywordseo="Peter-Rawlinson" source="keywords">Peter Rawlinson</keyword> said most electric cars in the US "frankly suck" and were underwhelming.</li></ul>The boss of one of <a target="_blank" class="" href="https://www.businessinsider.com/tesla">Tesla's</a> biggest rivals thinks he knows why the US public isn't being won over by EVs. Peter Rawlinson, the <a target="_blank" class="" href="https://www.businessinsider.com/lucid-ceo-comments-tesla-losing-its-way-elon-musk-distracted-2024-5">CEO of Lucid Motors and a former VP of engineering at Tesla</a>, spoke on the Cars and Culture podcast last week that most of the <keyword id="19895203" type="General" weightage="100" keywordseo="Electric-Vehicles" source="keywords">electric vehicles</keyword> on offer "frankly suck." Asked whether EVs in the US have a perception problem, Rawlinson said the problem was "not perception, but reality." "I think many people have driven EVs that frankly suck. I know because I drive all the competition," he said. "I think that the American public has been ill-served by underwhelming EVs," Rawlinson added. Rawlinson, who previously worked for Elon Musk and helped build Lucid, became CEO of Lucid in 2019. The EV startup is gearing up to launch its new electric SUV, the <a href="https://www.businessinsider.com/luvid-gravity-suv-details-photos-tesla-topping-range-interior-cargo-2023-11" target="_blank">$94,900 Gravit</a>y, with production expected to start by the end of this year. Lucid has <a target="_blank" class="" href="https://www.businessinsider.com/tesla-vs-lucid-which-is-better">touted its industry-leading technology</a> but continues to be stuck in the so-called EV "valley of death." The company reported revenues of $200 million in the most recent quarter and a net loss of $992 million. In August, it secured another $1.5 billion in investment from Saudi Arabia's Public Investment Fund, its majority shareholder. Meanwhile, EV sales growth in the US has slowed this year amid a dearth of affordable electric options. According to Kelley Blue Book, the average price of a new electric vehicle in the US in September was $56,000, compared to $48,397 for combustion-engine vehicles. <h2>China races ahead</h2>US automakers are grappling with the challenge posed by Chinese EV companies like BYD and Xiaomi, who have rolled out affordable electric vehicles packed with advanced technology. While these companies are unable to sell their cars in America due to <a target="_blank" class="" href="https://www.businessinsider.com/tesla-criticizes-biden-plan-to-ban-chinese-tech-in-cars-2024-11">cripplingly high tariffs</a>, they are putting Western companies under pressure in China and attracting plaudits in the US, with Ford CEO <a target="_blank" class="" href="https://www.businessinsider.com/ford-ceo-driving-xiaomi-su7-electric-vehicles-ev-2024-10">Jim Farley praising Xiaomi's SU7 EV</a>. Rawlinson previously described China's automakers <a target="_blank" class="" href="https://www.businessinsider.com/lucid-chinese-automakers-years-behind-tesla-electric-vehicles-elon-musk-2024-5">as "years behind" the likes of Tesla</a> in terms of core EV technology. Speaking on the Cars and Culture podcast, he said Chinese companies like BYD were ahead of US rivals in battery chemistry and assisted driving technology — but said they benefit from an "uneven playing field" due to government subsidies. "I think the Chinese do have a fundamental advantage because when the government says go, they all go in the same direction instead of arguing with each other," Rawlinson said. A study from the Centre for Strategic and International Studies think tank, released earlier this year, found that China has <a target="_blank" class="" href="https://www.businessinsider.com/china-electric-vehicles-government-subsidies-win-ev-race-byd-tesla-2024-6">provided at least $230 billion in support</a> to electric vehicle makers such as BYD since 2009. "I'd say they're still behind in terms of the core EV powertrain technology, but don't underestimate them," Rawlinson added. Lucid did not respond to a request for comment, sent outside normal working hours. This story has been amended to state that the production of Lucid's Gravity SUV is scheduled to start at the end of 2024.

Drivers are being 'ill-served by underwhelming EVs,' says boss of Tesla rival Lucid 

<ul class="summary-list"><li><keyword id="6356217" type="UNKNOWN" weightage="60" keywordseo="GMC">GMC</keyword> finally unveiled the <a href="https://www.businessinsider.com/electric-pickup-truck-comparison-tesla-cybertruck-rivian-r1t-2020-2">Hummer EV.</a></li><li>It has massive 35-inch tires and 350 miles of range.</li><li>While it has some similar specs to the <a href="https://www.businessinsider.com/elon-musk-smaller-tesla-cybertruck-highly-likely-2020-8">Cybertruck</a>, the <keyword id="9196948" type="UNKNOWN" weightage="60" keywordseo="Hummer-EV">Hummer EV</keyword> offers plenty of features to set it apart.</li></ul>The following is a transcript of the <keyword id="21654" type="COMPANY" weightage="60" keywordseo="video">video</keyword>.Narrator: GMC just unveiled its electric Hummer, the company's first all-electric car. And it's packed with features, which shouldn't be surprising since the Hummer <keyword id="186291" type="ORGANIZATION" weightage="60" keywordseo="EV">EV</keyword> is massive. But how does GMC's supertruck stack up against <keyword id="107096" type="COMPANY" weightage="60" keywordseo="Tesla">Tesla</keyword>'s <keyword id="8303602" type="UNKNOWN" weightage="60" keywordseo="cybertruck">Cybertruck</keyword>?Both EVs are engineered to go off-road. The Hummer EV is specially equipped for this task. A host of new features give drivers more control in tough situations. It has four-wheel steering, it can climb stairs and verticals up to 18 inches tall, has a unique CrabWalk feature that drives the car diagonally, and cameras underneath the truck help drivers avoid obstacles. Both EVs have huge 35-inch all-terrain tires, adaptive suspensions that can be adjusted for ground clearance, and make use of four-wheel drive. They're massive and will more than likely handle like a Ford Raptor or Jeep Gladiator Rubicon. We'll just have to wait until both <keyword id="20632" type="ORGANIZATION" weightage="60" keywordseo="Cars">cars</keyword> are out to test them for ourselves.As far as autonomous driving goes, the Cybertruck comes equipped with Autopilot. The Hummer EV will come with a three-year subscription to Super Cruise, GM's own autonomous-driving technology. Though Super Cruise is only hands-free on compatible roads.The new Hummer uses three electric motors to produce 1,000 horsepower and 11,500 pound-feet of torque. While Tesla hasn't released the Cybertruck's specs, Motor Trend estimates it's around 690 horsepower and 824 pound-feet of torque. Both cars boast a zero to 60 in about three seconds. But you'll need to be in Hummer's Watts to Freedom mode, similar to Ludicrous mode in a Tesla.Range is one of the most important metrics of any EV. GMC estimated the Hummer EV will do 350-plus miles on a full charge. That's on the high end for an EV but actually fares on the lower end compared to other electric trucks. The R1T, the Ford-backed EV, and Cybertruck boast 400 and 500 miles respectively, though both offer smaller battery packs that produce about half that. The Hummer EV will be the first car compatible with 350-kilowatt public chargers, which will allow it to charge 100 miles in 10 minutes.The price difference between the two is pretty substantial, which is expected. The base Hummer EV will start at $79,995, compared to the Cybertruck starting at $39,900. But don't expect to see either of those models on the street anytime soon. The Hummer EV Edition 1 will have a starting price of $112,595 and should be available in fall 2021.

You Searched For "EVs" and got 8 results

Sony, Honda to form new company to sell EVs together

IANS

India's EV landscape set to be transformed with key govt initiatives: Industry experts

IANS

Electric vehicle charging stocks surge as Congress clears infrastructure bill with $7.5 billion for EV sector

Phil Rosen

EV manufacturers Ola Electric, Okinawa under fire, Centre sends show cause notice

IANS

Centre considers lowering EV tariff to lure Musk's Tesla: Report

IANS

World EV Day: 50%+ three-wheelers, 5% of 2-wheelers, and 2% of cars purchased in 2024 are EVs.

ANI

Drivers are being 'ill-served by underwhelming EVs,' says boss of Tesla rival Lucid

Tom Carter

How Tesla's Cybertruck stacks up against the Hummer EV

Aj Caldwell

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