1. BYD India gets more than 1000 bookings for its Seal electric sedan.
BYD India has announced that it has received more than 1000 bookings for its newly launched electric sedan Seal.
Priced between Rs 41- Rs 53 lakh, the Seal is BYD’s third electric car in India after the e6 & Atto 3. The BYD Seal is compatible with DC fast-charging at speeds of up to 150 kW, which charges it from 10-80% in just 37 minutes!
Sanjay Gopalakrishnan, Senior VP at BYD India, gave a statement: “The phenomenal response to the BYD Seal, surpassing 1000 bookings in just over 2 months, is a testament to the growing appetite for high performance & stylish electric vehicles in the Indian market.”
2. Indian EV company Spiro making waves in Africa.
A relatively unknown EV company of Indian origin ‘Spiro’ has secured a debt financing agreement worth $50 million with Afreximbank (African Export-Import Bank) to consolidate its market presence in the African countries where it currently operates.
Spiro has a footprint in African countries like Benin, Togo, Kenya, Nigeria, Uganda & Ghana. The company plans to expand into Cameroon & Morocco within 2024. Spiro claims it is the largest operator of electric motorcycles in the African continent.
In Benin & Togo, the company has established a fleet of 11,000 motorcycles and a network of 300 battery swapping stations. In Kenya, the company has a fleet of 800 motorbikes. The company’s business model is to create a comprehensive electric vehicle ecosystem that includes all aspects of the industry. For this, Spiro is rapidly constructing an EV charging & battery swapping infrastructure. It is manufacturing electric bikes and integrating them with its ride-hailing app. This app is accessible to both riders & passengers, and includes an online payment system. The company’s fleet management system allows monitoring of the EVs & their batteries, and tracks their usage. Supporting this ride-hailing platform is a dedicated team of 50, based in Pune, Maharashtra.
3. Greaves announces price cut on its Ampere brand of electric scooters.
Greaves Electric Mobility, the e-mobility division of Greaves Cotton, has announced a price cut on three of its Ampere electric scooters. The Magnus LT has received a price cut of Rs 9000 while the Reo Li Plus & Magnus EX have become cheaper by Rs 10,000.
After this price reduction, the Reo Li Plus costs Rs 59,900. The Magnus EX now costs Rs 94,900 and the Magnus LT costs Rs 84,900.
4. TVS expands its iQube electric scooter lineup.
TVS Motors has expanded its iQube electric scooter lineup by introducing 2 new variants, bringing the total no. of variants to 5. Now, the TVS iQube will be available in battery options ranging from 2.2 kWh to 5.1 kWh.
The 2.2 kWh variant will be the cheapest, priced at Rs 94,999. After this, comes the 3.4 kWh battery option which will be available in multiple models ranging from Rs 1.19 lakh to Rs 1.38 lakh. The 5.1 kWh version starts at Rs 1.85 lakh.
The new 2.2 kWh battery variant takes 2 hours to charge from 0-80%, and its range is 75 km. The 3.4 kWh variant takes 3 hours for 80% charge and has a range of 100 km. The high capacity 5.1 kWh battery variant takes a little over 4 hours to charge and has a range of 150 km.
5. Tesla’s silence on India entry continues.
Tesla's much-awaited entry into the Indian market has been postponed and multiple factors contribute to this delay. The ongoing elections in India is one of those factors. Geopolitical tensions between India & China are another significant factor in Tesla's delay. Tesla has significant business operations in China and the company has to keep in mind complex international politics that may impact its business. These factors are making Tesla's market entry in India complicated.
Tesla boss Elon Musk paid a surprise visit to China after he cancelled his visit to India. Musk had plans to visit India between April 20 and 22, but these were cancelled at the last moment, and there has been no update on the same ever since.
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