Fortune India’s Post

If you thought EV sales were tanking recently, this article might provide a little perspective; "...slower growth is still growth." EV sales continue to trend generally upwards. Some manufacturers are doing better than others. Crystal-ball-gazing can be a little difficult. https://lnkd.in/ga36md2E #renewableenergy #EVs

Second hand EV sales are soaring as we are now seeing the benefits of having a more established used market for electric vehicles. There is now much more choice, both in terms of stock and price ranges. The public are also clearly no longer having as much range anxiety as more and more quality charging points continue to open across the U.K. https://lnkd.in/eqffma78

Ola Electric made over ₹5000 Cr in revenue and sold 3L+ units in FY24 With 35% market share in the E2W market, here’s how they’ve built a competitive moat 👇 Context 🧠 In a market where 16-17M 2W units are sold domestically (FY23), Ola Electric isn’t just another player—they’re rewriting the rules. With ~19.5M 2W being produced in India last year alone, Let’s explore how they’re spearheading India’s ₹1.6T 2W domestic industry into a sustainable, electric future and setting new benchmarks along the way 🚀 1/ In-House Battery Manufacturing 🏭 Did you know battery packs make up 35-40% of an EV's cost? 🔋 Instead of relying on imports, Ola’s Gigafactory in Tamil Nadu is set to manufacture cells in-house, cutting supplier margins and allowing more competitive pricing. Their new 4680 Bharat cell is expected to deliver 5X more energy than the current 2170 batteries, putting them ahead of the curve. 2/ Pure D2C Omni-Channel Model 🤳 Ola Electric skips dealerships altogether! Their direct-to-customer model slashes costs and gives them complete control over customer feedback and inventory, ensuring faster response times and less waste. More savings for you, smoother operations for them. 3/ 3W Innovation & 4W Ambition 🛺 Ola isn’t stopping at E2W production. They’re entering 3W with “Rahi,” offering category-first features. While Ola shelved its 4W plans for now, they remain committed to this space, creating a future moat in both 3W and 4W EVs. 4/ Production Linked Incentive Scheme 💰 As the only EV manufacturer benefiting from both the automobile PLI Scheme & cell PLI Scheme—Ola Electric enjoys substantial government incentives, further reducing costs and paving the way for aggressive pricing and future expansion. So what’s next? 🤔 With E2Ws reaching a 5% share of total 2W registrations in the first half of FY 2024 and expected to comprise almost half of domestic two-wheeler sales by FY 2028, Ola electric is perfectly positioned to drive India’s EV future 💫 Btw, this is just a glimpse of the in-depth business model we’ve curated for Ola Electric ✨ (link in comments)

#Electric2W sales plummeted 50% in April due to a seasonal slump worsened by subsidy changes. #OlaElectric dominated with 33K scooter sales. Legacy firms like #Bajaj and #TVSMotors also saw declines. https://lnkd.in/ggpYchp8 #business #sales #EV #electricscooters

EV sales stalling? Recent sales figures paint a very different picture. We’ve woken up to the news that more than a quarter of new cars sold in the UK in November were battery EVs. The figures represent the highest monthly market share for EVs in nearly two years. SMMT data shows: ⬆️BEV sales are up more than 58% year-on-year ⬇️Petrol sales are down almost 18% year-on-year As for the mandate - robust EV sales means there are enough ZEV credits that no manufacturers should have to pay fines this year, according to New AutoMotive. With 1.1 million EV drivers (and counting) and companies like ourselves at InstaVolt driving the rapid growth of public charging infrastructure, it's very clear what road we are on, and the direction that UK drivers wish to travel. #evs #electricvehicles #BEVs #charginginfrastructure #evchargers

“New EV sales growth has dropped, while used EV sales growth has increased 100% from 2022 and 40% from 2023.” That might explain some of the drop in new #EV sales; the “#UsedEV” market is maturing with wider selection and availability, buyers acquiring used EVs rather than new EVs. #ElectricVehicles #TransportationElectrification #MaturingEVMarket

'Stalled EV market latest': EV sales in August up 10% year-on-year, EV market share up to 23%, several manufacturers now well ahead of ZEV Mandate sales targets, petrol internal combustion model's market share down again and about to be overtaken by hybrids. Also, separate report shows that availability of 'near home' and 'journey' chargers is ahead of demand in most parts of the country. https://lnkd.in/eTfxeVP2

"Electric two-wheeler sales fell nearly 50% in April from the previous month, as a seasonal slump was exacerbated by a shift in subsidies for the industry. Electric scooter sales totalled just over 64,000 last month, with market leader Ola Electric accounting for more than 33,000 of those. However, Ola itself saw its sales retreat from a record high of over 50,000 units in March. In March, electric two-wheeler makers had sold more than 136,000 units, the highest on record for a month, according to vehicle registration data from the government's Vahan portal. Legacy firms like Bajaj and TVS Motors also saw a slump in their electric two-wheeler sales last month. Bajaj sold just over 7,500 units in April, compared with more than 18,000 in the previous month. At TVS, sales fell to 7,600 units from around 26,000 in March. Ather Energy, which recently entered the large family scooter market with its latest product, Rizta, sold more than 4,000 units in April, less than a fourth compared with over 17,000 units in March. The drop in sales was due to a number of factors, a senior executive at an electric scooter maker said. April is usually a sluggish month, but firms were also slowing down production and rethinking their strategy as the industry shifted from one subsidy to another, the executive added. On March 31, the FAME-II subsidy programme ended, giving way to the Rs 500-crore Electric Mobility Promotion Scheme (EMPS) from the Ministry of Heavy Industries. Under EMPS 2024, a support of up to Rs 10,000 per two-wheeler will be provided for over 300,000 units. The new subsidy does not cover unsold vehicles that were manufactured before April 1, which also led to firms slowing down their manufacturing and sales, while awaiting further clarity on subsidies. The electric two-wheeler market grew 30% in the year ended March 31 from fiscal 2023, selling more than 940,000 units. It has also continued to garner investor interest, as ET had earlier reported. Ather Energy is finalising plans to raise $75-90 million, while Ola Electric is awaiting the market regulator’s approval for an initial public offering." https://lnkd.in/gDKkMVZF

EV Sales surging due to a combination of policy support,improvements in battery technology,more changing infrastructures & new compelling models from automakers.electrification is also pending to new segments of road transport,setting the stage for huge changes ahead. Passengers EV Sales China still dominates the global EV market,but sales are rising quickly anywhere too. Battery electric are pulling ahead of plug-in hybrids & the gap is set to widen further in the years ahead. Global Passenger EV sales by market oil displacements from EVs of all types are already displacing 1.5 million barrels per day of oil usage equivalent to about 3% of total road fuel demand. Oil displacements by vehicle segment. 1. Vans & Truck. 57,784 barrels per day 2.Passengers Car.1 96,158 barrels per day 3.Buses. 234698 barrels per day 4.Two & Three Wheeler, 1010,228 barrels per day Lithium-Ion Battery demand Battery demand is rising sharply,putting pressure on the sharply chain for materials like lithium,cobalt & nickle. Number of public charging stations : More & More charging station are being built,but each country will have its own at home, workplaces & public chargers.

Global EV Deliveries from January to November 2024 Reach Approximately 15.59 Million Units, Up 25.9% Year-on-Year Global EV Deliveries from January to November 2024 Reach Approximately 15.59 Million Units, Up 25.9% Year-on-Year   - BYD Secures Global EV Sales Crown with 3.67 Million Units Delivered in November 2024   In the January-November 2024 period, the total number of registered EVs worldwide amounted to approximately 15.59 million units, reflecting a 25.9% increase compared to the previous year.