Accelerating towards tomorrow: India's electric vehicle revolution
India's electric vehicle (EV) revolution is charging ahead, driven by dynamic policies, hefty investments, and a surge in consumer interest. Bloomberg NEF's EV Outlook 2024 forecasts a leap to 5.9 million EV sales by 2040, with a remarkable 199% growth by 2027. This growth is fueled by a broader range of models and increasing consumer enthusiasm.
Government initiatives, including the FAME and Production Linked Incentive (PLI) schemes, have bolstered local manufacturing and competitiveness. PM E Drive underscores India's policy dedication to innovation and sustainability in the EV sector.
The Tata Group have played a pivotal role in mainstreaming EVs in the country. While Tata Motors led the EV revolution by offering customers a choice of EVs to select from even as other OEMs took time, Tata Power laid a robust foundation to bolster the charging infrastructure with its offerings of home, community and public charging. A comprehensive ecosystem of suppliers, vendors and charge point operators has also been fostered to accelerate the transition towards electric mobility with more aggressive and ambitious plans. With nearly all other OEMs announcing their plans to launch and promote EVs at the recently concluded Bharat Mobility Global Expo, it is now established beyond doubt that that EVs are definitely the future.
As India accelerates its transition to electric mobility, key innovations in critical areas are playing a supportive role in shaping the landscape and setting the stage for a sustainable future.
Battery Technology –
Batteries significantly influence EV costs, depending on the vehicle segment. Traditional lithium-ion and lead-acid batteries have their limitations, and this is rapidly emerging alternative battery chemistries show promise. Pune-based KPIT Technologies recently launched its sodium-ion battery technology, and several other companies are in the technology readiness phase. Sodium-ion batteries offer advantages such as lower costs, enhanced safety, and abundant raw materials.
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Phinergy, an Israeli cleantech firm, which collaborated with Tata Motors to develop a prototype of the Tata Tiago EV, is utilizing its proprietary aluminum-air battery while Log9 Materials is close to commercializing their aluminum-air technology systems.
Charging Infrastructure -
Bengaluru-based startup Exponent Energy claims it can charge EVs from 0 to 100% in just 15 minutes while Hopcharge, is revolutionizing convenience with its on-demand, doorstep fast-charging service. Another notable initiative is by GPS Renewables, which has set up an EV charging station in Mumbai powered by biogas.
Sustainability -
The sustainable journey of EVs encompasses eco-friendly manufacturing, efficient operation, and responsible end-of-life disposal and recycling. Many EV manufacturers have adopted green manufacturing practices and circular economy principles in their operations. Further, startups like Attero, Lico Materials, Metastable Materials, and Lohum Cleantech are pioneering technologies to efficiently recycle lithium-ion batteries. These companies focus on recovering valuable materials such as lithium, cobalt, nickel, and manganese, thereby bolstering the battery circular economy and contributing to a more sustainable future.
Lightweighting –
Use of advanced lightweight materials is enabling EV manufacturers to either extend vehicle range or minimize size and cost of the battery pack required for a given range. Gurugram-based startup Planet Electric, founded by former ISRO engineers, is making strides in manufacturing four-wheeled cargo EVs. By leveraging materials engineering for lightweighting technologies, they are developing cost-effective solutions that enhance performance while addressing the challenges of battery weight.
Energy Efficiency in Motors -
Electric motors are a vital component of EV powertrains and here significant innovations are underway to reduce dependence on rare earth metals. Axial flux motors show potential for improving efficiency and reducing material dependency. Vecmocon is making strides in this arena, offering a comprehensive range of services—including battery management systems, vehicle intelligence, chargers, and instrument clusters. The company plans to expand its offerings to include motor controllers specifically designed for EVs.
Retrofitting
- Retrofitting—converting older vehicles into electric models—plays a vital role in accelerating the adoption of electric mobility and one notable startup in this space is RACE Energy, which specializes in creating retrofit kits for transforming conventional three-wheelers into EVs. Similarly, ETrio offers electric kits along with retrofitted electric light commercial vehicles (eLCVs). Bengaluru-based E3V Industries is making an impact by producing both EVs and kits designed for the conversion of traditional vehicles to electric. The company emphasizes the use of renewable energy and off-grid power systems to optimize last-mile logistics.
Vehicle-to-Grid (V2G) Integration -
This technology enables EVs to not only charge from the grid but also discharge energy back into it, potentially stabilizing the grid and creating additional revenue streams for EV owners. Delhi-based battery technology startup Sheru has developed a bidirectional energy flow platform called NetBat, which facilitates vehicle-to-grid (V2G) interactions, allowing EVs to draw power from the grid while also supplying energy back during peak demand periods, thereby enhancing grid stability and efficiency. Sheru has partnered with BSES Rajdhani, a prominent utility company, to implement this. Startups like Magenta Mobility and VoltUp are exploring the integration of smart grid technologies and may expand into V2G services in the future, further advancing the potential of EVs in the energy ecosystem.
Last Mile Mobility -
India's rapidly growing urban population and escalating air quality index (AQI) crisis make last-mile mobility a critical sector for innovation. In addition to established vehicle manufacturers including Tata Motors, Mahindra & Mahindra, several startups, such as Euler Motors, Bounce, Cell Propulsion, BGauss, Baaz Bikes, Amo Mobility, and Altigreen, are providing last-mile transportation solutions through two-wheeler, three-wheeler, and four-wheeler EVs designed for commercial use.
India's competitive advantage in affordability means that many of these solutions are engineered to be cost-effective and accessible, ensuring that electric mobility can reach a broader audience and contribute to a cleaner urban environment.
Battery Swapping -
India's expansive automotive market and rapidly growing EV sector make it an attractive hub for collaborations between domestic and international players in the battery swapping space. Domestic companies like Sun Mobility, Chargeup, and Battery Smart provide customers with the ability to swap their EV batteries at designated swap stations, enhancing convenience and reducing downtime. Lithion Power is also exploring battery swapping solutions, particularly for two-wheelers and LCVs.
India's strengths in frugal engineering and its talented workforce offer a remarkable opportunity to cement its position as a leader in the global EV ecosystem, driving a cleaner and more sustainable future.
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First Post
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Air India AI 171 crash ends Dreamliner's untarnished safety record
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Emergency response teams, including the National Disaster Response Force and local fire units, were swiftly dispatched. More from India Ahmedabad plane crash: Reactions pour in from around the world Authorities confirmed the aircraft issued a Mayday call moments before disappearing from radar at an altitude of approximately 625 feet. While the cause of the crash is still under investigation, it is unclear if the aircraft's Rolls-Royce Trent 1000 engines, which have previously been the subject of operational concerns, failed due to sonme reason. Air India, now managed by Tata Group, expressed deep sorrow and has launched a joint investigation with India's Directorate General of Civil Aviation (DGCA). Boeing released a brief statement saying it is 'aware of the incident and is in contact with Air India and investigative authorities.' This tragic event abruptly ends the Dreamliner's long-standing reputation for an impeccable safety record across a global fleet of over 1,600 aircraft. With profound sorrow I confirm that Air India Flight 171 operating Ahmedabad London Gatwick was involved in a tragic accident today. Our thoughts and deepest condolences are with the families and loved ones of all those affected by this devastating event. At this moment, our… — Tata Group (@TataCompanies) June 12, 2025 STORY CONTINUES BELOW THIS AD The Dreamliner vision The Boeing 787 Dreamliner was conceived in the early 2000s as part of Boeing's strategy to revolutionise long-haul air travel. Originally announced in 2003 under the name '7E7,' the aircraft was renamed the 787 Dreamliner in 2005 and aimed to bring together cutting-edge technology, improved fuel efficiency and enhanced passenger comfort. With rising fuel costs and increasing environmental concerns, airlines were eager for an aircraft that could fly long distances with fewer emissions and lower operating costs. A turbulent development Despite the strong market demand, the development of the 787 was far from smooth. Boeing adopted an ambitious global outsourcing model, contracting much of the design and manufacturing work to suppliers around the world. This strategy was intended to cut costs and speed up production but instead led to major coordination problems and quality control issues. Suppliers frequently missed deadlines or delivered incomplete components causing cascading delays throughout the programme. Originally scheduled for its first delivery in 2008, the Dreamliner faced over three years of delays. The aircraft finally took its maiden flight on December 15, 2009, and the first unit was delivered to All Nippon Airways (ANA) in September 2011. By then, Boeing had already spent billions over budget and had to reassess much of its supply chain strategy. Battery fires and grounding No sooner had the aircraft entered service than it encountered one of its most serious safety crises. 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Continued quality issues Even after resolving the battery crisis, Boeing struggled with recurring production problems, particularly at its North Charleston, South Carolina facility. Between 2020 and 2022, the company paused deliveries multiple times due to structural defects, including improperly joined fuselage sections, surface wrinkling and issues with the horizontal stabiliser. The Federal Aviation Administration stepped in with increased oversight, slowing down the certification and delivery process. At the height of the crisis, more than 100 completed aircraft sat idle awaiting fixes. These setbacks not only delayed fleet expansion for customers but also deepened Boeing's financial woes following the separate 737 MAX crisis. A strong safety record — until now Despite these developmental and production setbacks, the Boeing 787 maintained an enviable safety record for over a decade. No fatal crashes were recorded from its entry into service in 2011 until June 2025. 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Rare earth magnets: Industry exploring lighter metals, reworking production schedules as govt weighs PLI
HighlightsChina's export halt hits EV supply chains; rare earth magnet stocks may last only till mid-July. Bajaj Chetak halts production briefly, Ather and TVS warn of disruptions; Hero, Tata, MG unaffected so far. OEMs explore stopgap options like importing motors or redesigning magnet-free systems, but face challenges. Govt mulls PLI scheme, mining boost, but solutions likely to take time. The US reached an agreement with China for uninterrupted supplies of rare earth magnets last night, but Indian OEMs will likely have to wait longer. Rare earth elements like samarium, gadolinium, terbium, dysprosium, and lutetium are essential for making permanent magnet synchronous motors (PMSMs), which is a key component for electric vehicles (EVs) and hybrids. These motors are also used in electric power steering and other auxiliary systems in internal combustion engine (ICE) vehicles. Since April four this year, China - which accounts for an overwhelming 80% of rare earth magnet supplies for Indian automobile OEMs - has stopped approvals for exports of this critical component. While negotiations are happening between the two governments, as per industry sources, on easing the export curbs from China, there is no light at the end of the tunnel yet. A component industry leader said supplies of rare earth magnets 'are precariously low with component manufacturers. The situation remains the same (despite the US getting a reprieve) and no Indian company has been given a license for importing these magnets yet. We are keeping our fingers crossed and hoping for the best'. We will start seeing production challenges very soon. With US, it was a trade issue but with India, China has a geopolitical issue which is yet to be veteran Another industry veteran said 'we will start seeing production challenges very soon. With US, it was a trade issue but with India, China has a geopolitical issue which is yet to be resolved.' A prominent dealer, of several brands across passenger vehicles and two wheeler categories, said that Bajaj Auto may be suspending production of its electric vehicle (EV) brand Chetak for a week, till June 17. 'This may be partially due to the rare earth magnet issue and also due to some design changes they are introducing. We were told that there is no production between June 11 and June 17,' he said. This dealer also indicated that Ather Energy , a pure play electric two wheeler brand, has stocks of the rare earth magnets for only a month more. Neither Bajaj nor Ather confirmed these developments. Also read: Maruti Suzuki denies operational impact amid rare earth magnet concerns The dealer quoted above also said that Hero MotoCorp (which sells VIDA electric two wheelers) has not indicated any production schedule changes as of now. But TVS Motor Company has already warned of production disruptions and even price increases due to the rare earth magnet supply issue beginning next month. According to CRISIL, Indian auto component manufacturers/ OEMs are exploring several options to mitigate the risks posed by rare earth magnet supply disruption. These include (a) importing fully assembled motors from China, (b) shipping the rotors, on which the rare earth magnets are mounted, to China for magnet assembly and then re-importing the assembled rotors, (c) substituting rare earth magnets with alternatively engineered materials aimed at achieving similar magnetic performance as rare earths without crossing the threshold that would classify them as rare earth magnets, (d) introducing rare earth magnet-free motors and instead switching over to motors that rely on electromagnets or other inductive mechanisms. These workarounds, however, come with logistical, regulatory and engineering complexities. Implementing some of the above alternatives would also involve accelerating the development, testing, and validation cycles to minimise production disruptions. Magnet issue blessing in disguise? But, for the passenger vehicle internal combustion engine industry, the rare earth magnet supply issue may have come as a blessing in disguise. The PV ICE vehicle dealers are currently bearing inventories of up to 50 days, double the normal level. So any potential disruption in production of ICE passenger vehicles is unlikely to bother the industry in the short term. But for electric PV OEMs, there is reason to worry. While Tata Motors, MG and Mahindra & Mahindra - three of the biggest OEMs for electric PVs - have not indicated any impact of the supply issue till now, industry experts expect these OEMs to be under pressure in the coming weeks if the magnet supply issue is not resolved. Maruti Suzuki India , which expects to shortly launch its first electric vehicle, has said that while there is no disruption in operations as of now due to the rare earth magnet supply issue, 'there is a lot of uncertainty, the situation is continuously evolving'. Heavy rare earth magnets are better performance as compared to less heavy rare earths. If the latter are used, each electric vehicle will need more magnets to achieve the same level of Thakkar Hemal Thakkar , Senior Practice Leader and Director at Crisil Research, pointed out that for electric two wheeler OEMs, while value wise the magnets account for negligible share of just Rs 150-200 per vehicle, this tiny part is indispensable. He also explained that while the present constraint in supplies from China applies to specific rare earths, alternatives can be developed. 'Heavy rare earth magnets are better performance as compared to less heavy rare earths. If the latter are used, each electric vehicle will need more magnets to achieve the same level of performance. This will also mean more space is needed for the magnets, ultimately needing a redesign of the electric motor. All this will take time, at least a couple of months. So alternatives can be found but not immediately'. Industry wants govt intervention As the automobile industry seeks meaningful intervention from the government, there are indications that the Ministry of Heavy Industries is looking at an incentive plan to boost domestic production on rare earth magnets through fresh production linked incentive ( PLI ) scheme. Plans are also afoot to improve domestic availability of critical minerals through increased mining through state owned firms. Also read: Rare-earth magnet supply concerns may disrupt auto production by July: ICRA There is also some talk of letting the private sector explore rare earths. While the intent is supportive, the operationalisation of these plans will take time. Thankkar of Crisil Research said that 'The PLI initiative is a good move but this will take some time to be implemented, since interministerial consultations etc are needed'. Also, some Indian companies are exploring ways to build magnet free motors. So while the OEMs are looking for various options, it is for the governments of the two countries to resolve the matter quickly. Otherwise India's green ambitions may take a temporary hit.
