Latest news with #XUV9e
Time of India
4 days ago
- Automotive
- Time of India
Mixed bag for EVs in July as cars zoom ahead while 2-wheelers falter
India's electric vehicle landscape presented a mixed picture in July. While electric passenger vehicles (ePVs) accelerated into double-digit growth territory, electric two-wheelers (e2Ws) stumbled amid raw material shortages and geopolitical uncertainties. According to data released by the Federation of Automobile Dealers Associations (FADA), e2W retail sales dipped 2.26 per cent month-on-month (MoM), with 192,973 units sold in July, compared to 105,276 units in June. The fall comes after a steady 5 per cent rise in June, hinting at emerging supply-side and market challenges. Headwinds for e2Ws TVS Motor retained its top spot but reported a 12.03 per cent MoM decline, selling 22,256 units in July versus 25,300 units in June. Bajaj Auto followed with a fall of 14.54 per cent, as sales dropped to 19,683 units from 23,032 units in the previous month. Rajiv Bajaj, Managing Director, recently flagged the unavailability of rare earth materials as a serious concern. Production had already halved in July and could drop to zero in August if sourcing issues persist. However, this will not happen as Bajaj Auto has found alternative supply options which will help it tide over the crisis. Ola Electric, which has been rebuilding its position in the market, saw a 11.58 per cent decline in sales with 17,852 units, down from 20,190 units in June. Ather Energy posted a healthy 11.88 per cent MoM growth with 16,251 units sold. Meanwhile, Hero MotoCorp registered a significant 36.95 per cent surge, selling 10,501 units. Its EV arm, VIDA, clocked its highest monthly sales yet with 11,226 units. ePVs post robust growth On the other end of the spectrum, ePVs saw strong momentum, recording a MoM growth of 17.83 per cent with 15,528 units sold in July, a jump from 13,177 units in June. Tata Motors continued its dominance in the segment, registering a 28.44 per cent growth with 6,047 units sold, up from 4,708 in June. The company is betting big on its newly launched Harrier EV to sustain this lead. Tata Motors CFO PB Balaji confirmed there was no impact on EV production due to rare earth material constraints, and the company is proactively scouting for alternative sources. JSW MG Motor India also reported a strong July, with 28.12 per cent growth backed by the success of its MG Comet and MG Windsor models. Mahindra & Mahindra, while retaining its third spot, saw sales drop 6.4 per cent MoM to 2,835 units. Despite the excitement around new launches like the XUV 9e and BE 6, the brand is seeing a slowdown in this space. Hyundai Motor India, focusing on its Creta EV and the premium Ioniq 5, sold 613 units in July, marking a 19.73 per cent increase — though volumes remain significantly lower than top contenders. Meanwhile, BYD of China figured in the top five list selling 459 units even though this was 3.57 per cent down from the preceding month. To sum up, while legacy players continue to hold strong positions in both e2W and ePV categories, the two-wheeler segment is increasingly vulnerable to supply-side disruptions.
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Business Standard
30-07-2025
- Automotive
- Business Standard
Mahindra EV biz posts ₹111 crore Q1 EBITDA, awaits PLI nod for XUV9e
Mahindra Electric Automobile (MEAL) has posted earnings before interest, taxes, depreciation and amortisation (EBITDA) of ₹90 crore in the first quarter of FY26, with a resultant EBITDA margin of 2.9 per cent, driven by strong demand for its newly launched electric SUVs. Revenue touched ₹3,068 crore in Q1FY26, and the company reported a loss before tax of ₹108 crore. Including battery electric vehicle (BEV) contract manufacturing at Mahindra & Mahindra's Chakan plant for MEAL, the overall EBITDA for the EV business comes to ₹111 crore, with a loss before tax of ₹101 crore. M&M's electric SUVs captured a 44.3 per cent revenue market share in Q1 and a 40.9 per cent revenue share in the overall electric vehicle market. In terms of volumes, M&M held a 31.8 per cent market share in electric SUVs in Q1FY26 — a sharp rise from 6.3 per cent in Q1FY25. EV penetration in M&M's overall sales touched 7.8 per cent, compared to the industry level of 5.6 per cent. Rajesh Jejurikar, executive director and chief executive officer of the auto and farm sector, M&M, said the EV business's EBITDA figures did not include any production-linked incentive (PLI) benefits. 'We have qualified for PLI for the XUV9e and we are waiting for the final technical audit certification, which should come around Q2FY26 or Q3FY26,' he said, adding that the company will apply for PLI benefits for the BE6 around Q4. Approvals typically take around three months. The company also said it was 'comfortably' covered on the rare-earth magnet issue. 'We have had no production disruptions because of that. We have taken a series of actions, including around inventory, and we are covered comfortably at least till the fourth quarter. We have also taken measures such as substituting rare earth with light earth and other materials,' Jejurikar told reporters after the quarterly results. He clarified that the company had not yet finalised the location for its upcoming greenfield plant. Mahindra currently has capacity to produce 55,000 internal combustion engine (ICE) vehicles a month, of which it is producing around 40,000 units, or 80 per cent of capacity. For EVs, monthly production stands at around 4,000 units, which will be gradually ramped up.
India Today
15-07-2025
- Automotive
- India Today
Elon Musk gets warm welcome from Anand Mahindra as Tesla enters Indian market
As Tesla officially enters the Indian market with the launch of its first showroom in Mumbai, Mahindra Group Chairman Anand Mahindra extended a warm welcome to Tesla and its CEO Elon a post shared on X, Mahindra said, "One of the world's largest EV opportunities just got more exciting. Competition drives innovation, and there's plenty of road ahead. Looking forward to seeing you at the charging station."Welcome to India, @elonmusk and @ of the world's largest EV opportunities just got more drives innovation, and there's plenty of road forward to seeing you at the charging station. anand mahindra (@anandmahindra) July 15, 2025advertisementHis message comes on the day Tesla inaugurated its first Indian experience centre in Mumbai's upscale Bandra Kurla Complex (BKC), marking a major milestone after years of speculation surrounding the brand's India entry. Tesla's arrival adds further momentum to the rapidly growing electric vehicle ecosystem in India, where Mahindra Electric is already a key player. With both global and domestic giants now in the game, the Indian EV space is poised for unprecedented innovation, consumer choice, and accelerated is steadily establishing itself as a major force in the Indian EV market with models like the BE 6 and XUV 9e, and several more in development. While Tesla grabbed the spotlight today, Mahindra also made headlines recently with the unveiling of four concept vehicles—each symbolized by a distinct colour. These future models will be underpinned by the all-new Freedom NU platform, set to be officially unveiled on August 15, 2025. Expected to feature a monocoque chassis, this flexible platform is designed to support a wide range of powertrains, including petrol, diesel, electric, and hybrid, and will form the basis of several upcoming Mahindra SUVs aimed at both domestic and global Mahindra's future SUV concepts await official nameplates, Tesla has made its India debut with the launch of the Model Y in two variants — Rear Wheel Drive (RWD) and Long Range Rear Wheel Drive (LR RWD). The company has also released full specifications and pricing details on its official and rangeThe Model Y is offered with two battery configurations. The RWD version comes equipped with a 60kWh LFP battery, delivering a claimed range of 500km per charge under the WLTP cycle. The LR RWD, on the other hand, gets a larger battery, providing a claimed range of 622km on a single variants currently offered in India feature a single-motor setup. Despite that, performance remains impressive. The RWD version accelerates from 0 to 100 km/h in just 5.9 seconds, while the LR RWD does it slightly quicker at 5.6 seconds. Both versions have an electronically limited top speed of 201 km/ capabilitiesWhile Tesla has not yet confirmed the rollout of its Supercharger network in India, the brand claims that its ultra-fast DC chargers can replenish up to 238km of range on the RWD in just 15 minutes. The LR RWD can gain up to 267km in the same time using a driving suiteadvertisementTesla will become the first automaker in India to offer a comprehensive self-driving system. Available as an optional add-on for 6 lakh, this Full Self-Driving suite is delivered via over-the-air updates. However, Tesla notes that some autonomous features may require regulatory clearance in specific regions, and further details will be provided closer to the vehicle's delivery and deliveriesAccording to Tesla's India website, the Model Y RWD is priced at Rs 59.89 lakh (ex-showroom, Delhi), while the LR RWD comes in at Rs 67.89 lakh (ex-showroom, Delhi). Stealth Grey is offered as the standard exterior color at no extra cost. Other paint options include:Pearl-White Multi-Coat and Diamond Black: Rs 95,000Glacier Blue: Rs 1.25 lakhQuicksilver and Ultra Red: Rs 1.85 lakhThe Full Self-Driving feature, as mentioned, costs Rs 6 lakh require an initial non-refundable payment of Rs 22,220, followed by an additional Rs 3 lakh within seven days to confirm the order, also per Tesla's schedule, deliveries for the RWD variant will begin in Q3 2025, while the LR RWD variant is expected to start reaching customers in Q4 to Auto Today Magazine- EndsTrending Reel
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Business Standard
03-06-2025
- Automotive
- Business Standard
Harrier.ev in driver's seat as Tata Motors eyes 50% market share in EVs
Tata Motors (TML), the leader in India's electric passenger vehicle market, is betting on its new off-roader electric high SUV, the Harrier EV, along with other offerings in the entry and mid-level EV segments, to sustain over a 50 per cent share of India's 100,000-unit EV market. The market is expected to grow by more than 50 per cent in 2025-26, crossing the 150,000-unit mark. The company also claimed it does not face any immediate crisis from the rare-earth metals supply disruption from China. The Harrier EV, aggressively priced with a starting price of Rs 21.49 lakh, is expected to compete with Mahindra & Mahindra's XUV 9e, which starts at Rs 21.9 lakh. Speaking to Business Standard, Tata Motors Passenger Vehicle and Tata Passenger Electric Mobility Managing Director Shailesh Chandra said the SUV segment has grown over the years to command 55 per cent of the passenger vehicle market, with the high-SUV segment (vehicles priced over Rs 20 lakh) accounting for around 25,000 units a month. 'This is a sizeable segment that attracts more sophisticated customers who are mostly upgraders from earlier cars and are looking for better performance, quality, and new technology,' he added. Chandra explained that in the overall EV market, entry-level EVs priced below Rs 12 lakh (such as the Tiago EV) sell around 3,500-4,000 units a month, while mid-size EVs (like Punch and Nexon) sell about 6,000 units monthly. The Punch straddles the entry and mid-size EV segments, typically offering a 300-400 km range and catering to maximum volumes and competitive intensity, as it functions as both a city and intercity car. The new category of high SUVs as EVs, where the Harrier has been positioned, is expected to break barriers for EV adoption. 'New customers who have not considered EVs so far will come into the fold due to faster charging speeds (the Harrier EV, for example, can add 250 km of range in 15 minutes), more range (500-600 km), which is comparable to any ICE vehicle, and thus EVs will become more mainstream,' he said. TML has faced stiff competition from players like JSW MG Motors and Mahindra in recent months, with its market share dropping from over 70 per cent to 55.4 per cent at the end of FY25. According to Vahan data, Tata Motors' EV market share in the first two months of FY26 stands at around 37.9 per cent, down 13.8 per cent year-on-year. Meanwhile, M&M and MG have gained, with market shares of 24.4 per cent and 31.2 per cent respectively. Chandra said he is optimistic FY26 will be their best year yet, aligned with industry growth. 'The industry might grow by over 50 per cent, and we are entering a new segment which should give us more volumes. We are also taking action in existing segments that were problematic last year, which should help us grow volumes,' he said, adding the goal is to hold a 50 per cent EV market share in the mid to long term. Asked about exports as the domestic market becomes more competitive, Chandra said exports will be a mid-to-long-term focus, but improving the value proposition of existing products, including entry-level models, is the immediate priority. The plan is to expand the entry-level market from 3,500 units a month to 6,000 units. 'We are also working on the fleet segment to make it comparable with the value proposition of CNG vehicles,' he noted. Post-FAME subsidies, TML has seen a significant decline in fleet sales, which once accounted for nearly 20 per cent of its EV sales. The Harrier EV, loaded with features such as a 540-degree surround view, transparent mode, blindspot view, digital key (via smartwatch or phone), auto-park assist, and summon mode, will be manufactured at the company's Pune plant. While Chandra did not disclose production targets, he said they have plans for a rapid ramp-up if needed. He does not expect the Harrier EV to cannibalise sales of the Harrier ICE variant. 'We have experience with a multi-powertrain strategy in other products. For example, when the Punch ICE launched in 2021, it sold 8,000 units a month. Now, with EV and CNG variants, sales have doubled to 16,000 units a month. So the segment expands, and that's how I see this,' he said. He expects EVs to achieve double-digit penetration in the high SUV segment in the coming quarters.
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Business Standard
03-06-2025
- Automotive
- Business Standard
Tata Motors bets on new Harrier EV to own over 50% of market share
Tata Motors (TML), the leader in India's electric passenger vehicle market, is betting on its new off-roader electric high SUV, the Harrier EV, along with other offerings in the entry and mid-level EV segments, to sustain over a 50 per cent share of India's 100,000-unit EV market. The market is expected to grow by more than 50 per cent in 2025-26, crossing the 150,000-unit mark. The company also claimed it does not face any immediate crisis from the rare-earth metals supply disruption from China. The Harrier EV, aggressively priced with a starting price of Rs 21.49 lakh, is expected to compete with Mahindra & Mahindra's XUV 9e, which starts at Rs 21.9 lakh. Speaking to Business Standard, Tata Motors Passenger Vehicle and Tata Passenger Electric Mobility Managing Director Shailesh Chandra said the SUV segment has grown over the years to command 55 per cent of the passenger vehicle market, with the high-SUV segment (vehicles priced over Rs 20 lakh) accounting for around 25,000 units a month. 'This is a sizeable segment that attracts more sophisticated customers who are mostly upgraders from earlier cars and are looking for better performance, quality, and new technology,' he added. Chandra explained that in the overall EV market, entry-level EVs priced below Rs 12 lakh (such as the Tiago EV) sell around 3,500-4,000 units a month, while mid-size EVs (like Punch and Nexon) sell about 6,000 units monthly. The Punch straddles the entry and mid-size EV segments, typically offering a 300-400 km range and catering to maximum volumes and competitive intensity, as it functions as both a city and intercity car. The new category of high SUVs as EVs, where the Harrier has been positioned, is expected to break barriers for EV adoption. 'New customers who have not considered EVs so far will come into the fold due to faster charging speeds (the Harrier EV, for example, can add 250 km of range in 15 minutes), more range (500-600 km), which is comparable to any ICE vehicle, and thus EVs will become more mainstream,' he said. TML has faced stiff competition from players like JSW MG Motors and Mahindra in recent months, with its market share dropping from over 70 per cent to 55.4 per cent at the end of FY25. According to Vahan data, Tata Motors' EV market share in the first two months of FY26 stands at around 37.9 per cent, down 13.8 per cent year-on-year. Meanwhile, M&M and MG have gained, with market shares of 24.4 per cent and 31.2 per cent respectively. Chandra said he is optimistic FY26 will be their best year yet, aligned with industry growth. 'The industry might grow by over 50 per cent, and we are entering a new segment which should give us more volumes. We are also taking action in existing segments that were problematic last year, which should help us grow volumes,' he said, adding the goal is to hold a 50 per cent EV market share in the mid to long term. Asked about exports as the domestic market becomes more competitive, Chandra said exports will be a mid-to-long-term focus, but improving the value proposition of existing products, including entry-level models, is the immediate priority. The plan is to expand the entry-level market from 3,500 units a month to 6,000 units. 'We are also working on the fleet segment to make it comparable with the value proposition of CNG vehicles,' he noted. Post-FAME subsidies, TML has seen a significant decline in fleet sales, which once accounted for nearly 20 per cent of its EV sales. The Harrier EV, loaded with features such as a 540-degree surround view, transparent mode, blindspot view, digital key (via smartwatch or phone), auto-park assist, and summon mode, will be manufactured at the company's Pune plant. While Chandra did not disclose production targets, he said they have plans for a rapid ramp-up if needed. He does not expect the Harrier EV to cannibalise sales of the Harrier ICE variant. 'We have experience with a multi-powertrain strategy in other products. For example, when the Punch ICE launched in 2021, it sold 8,000 units a month. Now, with EV and CNG variants, sales have doubled to 16,000 units a month. So the segment expands, and that's how I see this,' he said. He expects EVs to achieve double-digit penetration in the high SUV segment in the coming quarters.
