2 WHEELER
Electric two-wheeler makers brace for life without subsidy
India’s electric two-wheeler makers are preparing for a future without government subsidies amid uncertainty about their inclusion in the FAME III scheme. Executives highlight the potential impact on demand and consumer adoption. Despite reduced subsidies and falling sales, industry leaders emphasize shifting focus to product quality and expect market penetration to double by FY26.
City gas cos pin hopes on CNG 2-wheelers to ride over EV threat
Bajaj Auto and TVS Motor unveiled CNG-powered bikes and scooters, aiming to reduce ownership costs. City gas suppliers like Indraprastha Gas and Mahanagar Gas are ramping up infrastructure to support this trend. This move is expected to increase CNG sales, with the two-wheeler market showing promising growth.
Metal commodities likely to remain soft going forward: Deven Choksey
And given that kind of a situation that we are talking about, maybe many of the companies which are basically using the derivatives of the crude oil, they are going to be the beneficiary and particularly those are the ones which are likely to be in the chemical and speciality chemical segments in particular.
Investors rush to find anchor in Ola Electric IPO; local, foreign cos sign up for likely $350m book
Ola Electric's IPO, opening August 2, has drawn significant interest from domestic and international investors, valuing the company at nearly $4 billion. The IPO includes $5,500 crore from fresh shares and 85 million shares for sale. CEO Bhavish Aggarwal will reduce his stake to 37%. The listing is expected on August 9.
Government extends subsidy on two- and three-wheeler EVs until Sept 30
The central government has extended the 'Electric Mobility Promotion Scheme 2024' until September 30 and increased its budget to Rs 778 crore. Initially set from April 1 to July 31, 2024, with a Rs 500 crore outlay, the scheme aims to boost electric vehicle adoption nationwide. It offers subsidies of up to Rs 10,000 for electric two-wheelers, Rs 25,000 for small three-wheelers, and Rs 50,000 for large three-wheelers.
MediaTek and JioThings to launch 'Made in India' smart module and digital cluster for two-wheelers
MediaTek and JioThings launched 'Made in India' Smart Digital Cluster and Smart Module for the 2-wheeler market, combining advanced chipsets and innovative IoT solutions. This partnership aims to enhance digital experiences, speed market entry for OEMs, and cater to the growing EV segment. Highlighting India's role in global tech innovation, the collaboration is set to transform mobility.
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Awarding of road contracts picks up pace in June
The Indian Ministry of Road Transport and Highways awarded 95 km of highways in June and constructed 1,934 km until June 2024-25, with a capital expenditure of Rs. 60,461 crore. The ministry also announced the inclusion of L2-5 as a new vehicle category, aiming to create an innovative E-mobility solution for three-wheeled auto rickshaws.
Tunwal E-Motors shares list at 8.5% premium over issue price
Tunwal E-Motors' IPO listed on NSE SME at 8.5% premium (Rs 64; issue price Rs 59). Booked 12 times, it had Rs 82 crore equity and 57.5 lakh OFS, trading with Rs 5 GMP. Funds aid working capital, R&D.
DMRC to soon launch over 1,100 e-autos to boost last-mile connectivity
Delhi Metro Rail Corporation plans to enhance last-mile connectivity by adding 1,100 e-autos to its fleet of electric three-wheelers. These e-autos will operate from stations with charging points and parking. DMRC aims to register a total of 2,299 e-autos to serve commuters efficiently.
Govt expects to meet EV sales targets under promo scheme
Despite reduced subsidies and stricter norms, the Indian government remains optimistic about achieving electric vehicle (EV) sales targets set under the Electric Mobility Promotion Scheme, 2024. Over 265,000 electric two-wheelers and 176,000 electric three-wheelers were sold in fiscal 2024-25, with most two-wheelers expected to qualify for EMPS subsidies. The scheme aims to subsidize 372,000 electric vehicles, with automakers like Hero MotoCorp and Ola Electric already approved. EMPS replaces the FAME scheme and anticipates a new initiative in the upcoming Union Budget to further boost EV sales from August 1, 2024.
Expect domestic two-wheeler sales to reach peak levels of FY19 latest by Q1 FY26: Bajaj Auto
In FY24, domestic two-wheeler sales were at 1.8 crore units, according to Society of Indian Automobile Manufacturers data. One of the key factors driving growth of two-wheeler sales is the bounce back of retail financing, he said.
Domestic PV wholesales up 3% at 3.4 lakh units in June: SIAM
Passenger vehicle wholesales in India increased by 3% to 3,37,757 units in June 2024, according to SIAM. Two-wheeler wholesales rose 21% to 16,14,154 units, while three-wheeler wholesales saw a 12% increase to 59,544 units compared to June 2023.
Can Ola Electric become the Maruti Suzuki of electric two-wheelers?
Ola Electric, led by Bhavish Aggarwal, leads the e2W market with a 48% share in Q1 FY25, selling 74,068 units. Despite preparing for an IPO and product issues, growth stems from strategic partnerships and pricing. Policy shifts under EMPS cut subsidies, impacting sales. The company must adapt to competition and future e-motorcycle trends.
CNG models expected to boost Bajaj Auto’s two-wheeler market share
The introduction of a CNG model aimed at a rapidly expanding market segment is expected to boost the company's domestic motorcycle sales, which accounted for almost 60% of its total motorcycle sales in the last fiscal year.
Two-wheeler sales volume growth to continue this fiscal: CareEdge Ratings
The two-wheeler industry is projected to sustain steady growth this fiscal year due to improved domestic sales and strong demand in executive and premium segment motorcycles, according to a report by CareEdge Ratings. Post-COVID, the industry saw a decline but began recovering in FY23, with momentum continuing into FY24. Key drivers include higher EV sales, CNG-powered two-wheelers, and anticipated interest rate cuts in the latter half of FY25. The Indian two-wheeler industry recorded sales growth in FY23 and FY24, with future growth expected to be bolstered by new model launches and recovering exports.
What's draining the juice out of electric two-wheeler makers' battery
Sales of e2Ws plummet due to policy inconsistencies, supply chain issues with Chinese suppliers, and expectations for FAME III rollout, impacting top manufacturers like Hero Electric, Okinawa, and Ampere.
May auto retails impacted by heatwave and elections, dip 5.3% MoM: FADA
In May, auto retail sales dropped by 5.28% from the previous month, influenced by the heatwave and the recent Lok Sabha elections, according to FADA. However, annual figures showed a 2.6% increase. Two-wheelers and commercial vehicles saw year-on-year growth, while passenger vehicles and tractors slightly contracted.
May 2024, saw marginal decline in domestic 2-wheeler sales, exports however were up
India's two-wheeler sales experienced a marginal decline in May 2024 compared to the previous year, with major manufacturers like Hero MotoCorp, Bajaj Auto, and Eicher Motors reporting declines. Hero MotoCorp sold 498,123 units, while Bajaj Auto sold 305,482 units. Eicher Motors sold 71,010 units, 8% lower than the previous year. However, all three companies reported growth in exports, with Eicher Motors exports growing by 12%.
FAME 3 likely to be rolled out soon with Rs 10,000 crore outlay
The third edition of the Modi government's FAME scheme, worth Rs 10,000 crore, will focus on electric two-wheelers, three-wheelers, and government buses. The inclusion of electric cars for institutional buyers like taxi aggregators is undecided.
Support to three EV 2-wheeler makers may be restored
The government after an initial probe into violation of vehicle localisation norms mandated under the Faster Adoption & Manufacturing of Electric Vehicles in India (FAME India) scheme issued notices for recovery of ₹469 crore subsidy distributed to these companies for sales made between 2020 to 2023.
Strong sales growth for entry-level two-wheelers in H2 of FY24; big relief for automakers
The trend continued in April, driven by an improvement in income levels thanks to healthy economic growth, making the automobile industry bullish of a sustained recovery in the twowheeler segment and sparking green shoots of recovery in small car sales.
TVS Motor launches electric two-wheeler iQube in Bengaluru
TVS Motor Company unveiled the new TVS iQube variant with a 2.2 kWh battery in Bengaluru, offering fast charging, a top speed of 75 km per hour, and a range of at least 100 km on a single charge.
Wardwizard Innovations' electric 2-wheeler sales double in April to 1,071 units
The company, which manufactures electric vehicles under the 'Joy e-bike' and 'Joy e-rik' brands, had sold 455 units of electric two-wheelers in April 2023, Wardwizard Innovations said in a statement.
Technological factors can stall or spur adoption of EV 2-wheelers
The technological factors affecting electric two-wheelers (EV 2Ws) are integral to their development and widespread adoption in India, say EV industry stakeholders.
TVS Motor Co expects 25-30% of 2-wheeler sales to come from EVs: MD Sudarshan Venu
TVS Motor Company is expecting electric vehicles (EVs) to account for 25-30% of its total two-wheeler sales in the next two to three years, according to Managing Director Sudarshan Venu. The company plans to invest Rs 5,000 crore in the design, development, and deployment of future technologies, products, and digital capabilities. In FY24, EV sales grew by 101 per cent, reaching 1.94 lakh units. TVS plans to introduce another electric scooter this year, and its EV presence will be across both scooters and motorcycle segments.
Hero MotoCorp shares surge 6% after Q4 results. Should you buy, sell or hold?
Hero MotoCorp Share Price: Hero MotoCorp shares surged 6% after Q4 results, with net profit up 18% to Rs 1,016.05 crore. Brokerages remained positive: Jefferies expects double-digit industry revenue growth, maintains 'buy'; BofA sees potential in Hero 2.0 strategy, sets target price of Rs 5,400; Kotak retains 'sell' rating.
India's April auto sales rise 27% even as election uncertainty affects consumer sentiment: FADA
In April, India's auto retail sector surged 27%, attributed to stable fuel prices and new model launches despite dampened consumer sentiment during Lok Sabha elections. Two-wheelers rose 33%, while three-wheelers, passenger vehicles, commercial vehicles, and tractors grew 9%, 16%, 2%, and 1% respectively, driven by favorable market conditions, auto body FADA said.
Buy industrials on dips; top 2 bets in two-wheeler space: Deven Choksey
Deven Choksey highlights the importance of market corrections for safe investments. He advises on potential buy opportunities in companies like Tata Technology, Reliance, Tata Power during corrections for better returns.
'Over-regulation of the market': Rajiv Bajaj says taxes are too high on 2-wheelers as prices rise
Rajiv Bajaj at the launch of the new Pulsar criticized the high prices of two-wheelers, attributing them to excessive regulation. While acknowledging the benefits of norms like BS-VI, he urged the government to lower the GST rate on these vehicles, comparing it unfavorably to rates in other countries. Bajaj advocated for a GST rate of 12-18%.
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