1. Tata Motors set to launch the electric variant of the Nexon Facelift.

After introducing the 2023 Tata Nexon Facelift on September 1, Tata Motors is now ready to launch its electric variant on September 7. The 2023 Nexon EV will have all the changes and new features seen in its ICE counterpart. Tata Motors is however, expected to add a few EV-specific touches to the Nexon EV.

Features may include two 10.25-inch touchscreens (one for the infotainment system and one infront of the driver) and a new 2-spoke steering wheel (with an illuminated Tata logo).

Tata Motors may also drop the Nexon ‘Prime’ & ‘Max’ names and instead use Medium Range (MR) & Long Range (LR) going forward. The new model will be branded as ‘Nexon.ev’ and will compete with Mahindra XUV400 EV.

2. JSW Group working on an electric car.

Sajjan Jindal-led JSW Group is planning to enter India’s EV market by launching an electric car. The group is in talks with China-based automobile company ‘Leapmotor’, to license the latter’s tech for manufacturing electric cars in India. As part of the agreement, JSW will use Leapmotor's platform to make electric carss in India under its own brand name. Upon launch, the electric car is expected to be priced between Rs 15-20 lakh and will compete with Tata Nexon EV and Mahindra XUV400 EV.

It has also been recently reported that JSW Group is interested in picking up a stake in MG India. Group company JSW Steel Ltd’s shares gained around 3% after news of talks with Leapmotor was reported. However, this is not JSW Group's first attempt to enter the EV industry. In 2020, group company JSW Energy showed interest in the energy storage & EV charging business.

3. Laptop manufacturer MSI showcases a smart EV parking system.

High-end laptops & graphic card manufacturer MSI exhibited a ‘Smart EV Parking System’ at the Taiwan Automation Intelligence and Robotic Show (TAIROS) 2023.

This integrated EV charging system is AI-driven and has features like autonomous mobile robot, automatic disinfection, precise positioning via robotic arms, license plate recognition, remote real-time monitoring from a control room, 360 degree surveillance & multi-screen connectivity. The system aims to transform the traditional car parking into a one-stop solution for electric car charging, remote monitoring and hygiene. MSI is open to collaboration with industry partners. The AI-enabled EV parking system can find application in multiple areas including shopping malls, ambulance fleets, commercial fleets, etc. MSI also showcased its EV chargers at the expo. The company manufactures AC chargers up to 14.4 kW.

4. Market experts point out to a mutual fund with highest exposure of EV stocks.

Electric vehicle industry stocks have attracted a lot of attention from investors throughout the world. People have shown a lot of interest in the EV stocks owing to their growth potential in near future. Investors may directly invest in EV stocks on the stock exchange, but this may not be suitable for all investors. Another way to invest is via mutual funds that are investing in EV stocks. Investment companies which offer mutual funds are actively looking to include these in their portfolios. Here we’ll talk about one diversified equity mutual fund with a high exposure to EV stocks: ‘Bandhan Transportation and Logistics Fund’.

Launched in the last quarter of 2022, Bandhan Transportation and Logistics Fund invests in shares of companies involved in the transportation & logistics sector in India. The MF has around 45% allocation in large cap stocks, 20% allocation in midcap and 26.5% in small cap stocks. Bandhan Transportation and Logistics Fund has maximum exposure of 8.80% in Tata Motors stocks. Also, the fund carries allocations in some top performing stocks like Hero MotoCorp, Bharat Forge, Exide, etc. The fund’s total exposure to EV stocks is 24.62% of the scheme's assets.

Note: This mutual fund is relatively new and does not carry a long-term track record.

5. Mufin Green Finance announces its road ahead.

Non-bank EV financing player ‘Mufin Green Finance’ is planning to grow its loan book to Rs 750-850 crore by the end of the current fiscal year, from Rs 350 crore in July 2023. Mufin Green Finance is India’s largest ‘pure-play’ EV financing company (NBFC). The largest portion of Mufin’s loans go towards financing electric autos and electric two, three & four-wheelers.

The company is also open to offer non-EV loans in future, towards other renewable sectors like solar and hydrogen fuel. Mufin Green Finance is also focussing on getting listed on the National Stock Exchange. It is already listed on the Bombay Stock Exchange.

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