Ev Market News - Latest Updates & Headlines
LG to exit EV charger business amid global demand slowdown
Seoul, April 22: LG Electronics said on Tuesday it will exit the electric vehicle (EV) charger business, citing prolonged global demand stagnation in the EV market.
India records 11.5 fold leap in EV sales in last 5 years
New Delhi, April 18: India has crossed an important milestone with more than two million EVs sold in the financial year that ended on March 31 this year (2024-25). This is the highest ever sales in a single fiscal year, with a 15.6 per cent jump from 1.75 million sales in FY2024, according to a JMK Research report.
EV maker Okinawa's revenue drops 87 pc in FY24 amid falling sales
New Delhi, April 14: Homegrown electric two-wheeler manufacturer Okinawa Autotech has reported a steep 87 per cent drop in revenue in FY24.
Mercedes-Benz India sells record 18,928 cars in FY25, EV sales jump 51 pc
New Delhi, April 10: Mercedes-Benz India on Thursday reported its highest-ever annual sales in the country in the financial year 2024-25 (FY25) as the luxury carmaker sold 18,928 vehicles during the year.
Mahindra delivers 3,000 XEV 9e and BE 6 across India
Mumbai, April 9: Mahindra & Mahindra Ltd. has announced the successful delivery of over 3,000 all-electric Origin SUVs--the XEV 9e and BE 6--since the commencement of nationwide deliveries on March 20, 2025.
MLMML retains top spot as India's no.1 electric commercial vehicle manufacturer in FY25
Mumbai, April 2: Mahindra Last Mile Mobility Limited (MLMML) has once again solidified its dominance as India's leading electric commercial vehicle (EV) manufacturer, securing the top position for the fourth consecutive year in FY25.
LG Energy CEO sees battery demand at lowest in H1 2025
Seoul, March 5: LG Energy Solution Ltd (LGES), South Korea's leading battery maker, on Wednesday expected global battery demand will hit bottom in the first half of the year.
Ola Electric to slash over 1,000 jobs in 2nd layoff round as losses mount: Report
New Delhi, March 3: Ola Electric Mobility is reportedly laying off more than 1,000 employees and contract workers in its second round of job cuts within months.
EV maker Kinetic Green's losses surge 11 times to Rs 77 crore
Mumbai, Feb 27: Electric vehicle maker Kinetic Green faced a major financial setback in FY24, with its losses widening 11 times to Rs 77 crore as compared to the Rs 7 crore in the previous year (FY23).
India job postings by Tesla shows renewed focus on country's growing EV market
New Delhi, Feb 25: The recent job postings by Elon Musk-led Tesla across various roles highlights the American electric vehicle (EV) and clean energy company's renewed focus on establishing a foothold in India's rapidly growing EV market, a report showed on Tuesday.
Tesla needs to produce cars in India to scale, keep price between Rs 25-30 lakh: CLSA
New Delhi, Feb 21: In order to scale in the expanding Indian electric vehicle (EV) market, US major Tesla will need to manufacture its cars within the country and price them in the Rs 25 lakh-Rs 30 lakh range, global brokerage CLSA said on Friday.
Maruti Suzuki's new mid-term plan aims to make India an export hub, launch more EVs
New Delhi, Feb 20: The Suzuki Motor Corporation of Japan, the parent company of Maruti Suzuki India, on Thursday announced a new mid-term plan with a "rethink" in its strategy as "the business environment has changed due to declining market share in India" and the growing electrical vehicles segment.
One in two cars will be electric by 2035, India among countries to lead: Counterpoint report
New Delhi, January 29: One in every two cars will be an electric vehicle by 2035, with fastest growth expected from India, Latin America, Japan, and Southeast Asia, as per a report from Counterpoint Technology Market Research.
EVs likely to hit 30-35 pc of annual vehicle sales in India by FY30
New Delhi, Jan 26: The electric vehicle (EV) revolution is in full throttle and EVs could hit 30-35 per cent of annual vehicle sales in India by FY30, though internal combustion engine (ICE) vehicles will still dominate the roads, co-existing with EVs for years to come, according to a new report.
South Korea's unit price of exported cars falls for 1st time in 8 years
Seoul, Jan 26: The unit price of South Korea's exported vehicles last year fell for the first time in eight years amid a prolonged slowdown in electric vehicle (EV) sales, data showed on Sunday.
Vietnamese automaker VinFast officially enters India market, unveils two EVs
New Delhi, January 18: Vietnamese pure-play electric vehicle manufacturer VinFast officially announced its first electric vehicles for the Indian market at the ongoing Bharat Mobility Global Expo 2025.
Hyundai Motor raises alarm at BYD's entry into South Korean market
Seoul, Jan 15: Hyundai Motor Group's think tank on Wednesday cautioned against underestimating BYD, China's largest electric vehicle (EV) manufacturer, as it plans to enter South Korea's passenger car market.
Plug-in hybrid electric vehicles to drive global EV growth in 2025
Seoul, Jan 15: The global market for electric vehicles (EVs) is expected to see significant growth this year driven by the plug-in hybrid electric vehicle (PHEV) segment, while the battery electric vehicle (BEV) segment may continue to face challenges, a think tank run by Hyundai Motor Group said on Wednesday.
Operating loss in Q4 due to EV sales slowdown: LG Energy
Seoul, Jan 9: LG Energy Solution Ltd (LGES), South Korea's leading battery maker, on Thursday estimated it swung to an operating loss in the fourth quarter from a year earlier amid slowing sales of electric vehicles (EVs).