February-2025 NewsLetter

April 22, 2025

6 min Read

INDUSTRY DEVELOPMENTS

Kinetic Group Expands Battery Manufacturing: Kinetic Group has launched a new EV battery manufacturing facility in Ahmednagar, Maharashtra, with an annual production capacity of 60,000 battery packs. The facility will produce Range-X batteries for two- and three-wheelers, reducing import dependency and boosting the domestic EV supply chain.

Tesla’s Entry into India Gains Momentum: Tesla is preparing to enter the Indian market, with the government updating its EV policy to support local manufacturing. The policy might require ₹2,500 crore in revenue within two years and offer import duty relief. Tesla plans to import vehicles from Berlin initially while scouting for showroom locations in Mumbai and Delhi. The first model could start at ₹21 lakh.

Budget 2025: EV Industry Gets a Boost

The Indian government has removed import duties on key battery materials and allocated ₹20,000 crore for private-sector R&D in EV technology. dditionally, 35 capital goods used in EV anufacturing are now taxfree, making EV production more affordable and encouraging local manufacturing.

Looking Ahead: The Future of EVs in India

India’s EV industry is set to create 5 crore jobs by 2030, driven by manufacturing, battery production, and charging infrastructure. The market is also expected to generate $100 billion in revenue within five years. To support this growth, major automakers are investing in local production to reduce import dependency.

MARKET TRENDS

GOVERNMENT POLICIES

Favorable government policies, such as tax exemptions on EV manufacturing equipment, are supporting the growth of the EV industry in India.

FEBRUARY SALES

Bajaj Auto led February sales with 10,197 units, TVS moved to No. 2 with 8,856 units, surpassing Ola Electric (7,209
units).
Ather Energy secured 5,781 sales, while Greaves Electric had 1,818 units.

EV Sales Surge Globally

In January 2025, global electric and plug-in hybrid vehicle sales rose 18% Year on year. For the first time since February 2024, Europe and the U.S. outpaced China in EV sales, partly due to stricter CO₂ emission targets in the EU.

MAHINDRA’S ELECTRIC SUVS SEE RECORD BOOKINGS

Mahindra’s XEV 9e and BE 6 received 30,179 bookings on day one, amounting to ₹8,472 crore in ex-showroom value. This represents 30% of all EV bookings in 2024 so far.

TATA.EV CROSSES 2,00,000 EV ALES

Tata Motors has surpassed the milestone of 2,00,000 EVs sold in India. To celebrate, they are offering exclusive deals for new and existing customers over the next 45 days.

Government Approves 9,800 Electric Buses

The Ministry of Heavy Industries approved subsidies for 7,000 buses for Bengaluru and 2,800 e-buses for Hyderabad

EV Battery Longevity: A Non-Issue

A survey of 3,595 EV owners found that battery capacity declined only 7% over seven years, meaning range loss isn’t a major concern.

Rare Earth Dependency on China Continues

Despite efforts to localize supply chains, China remains the dominant supplier of rare earth metals used in battery manufacturing.

India is boosting EV adoption with more charging stations, local battery production and reduced import duties.

EV INFRASTRUCTURE & POLICY UPDATES

JIO-BP’S AMBITIOUS CHARGING EXPANSION

Jio-bp, a Reliance-bp joint venture, plans to install over 30,000 EV charging points across India by 2030. Currently, they operate 5,600 chargers nationwide.

Ford’s New Charging Breakthrough

Ford is developing a dual-port EV charging system that splits the battery into sections, allowing for faster charging from a single power source. If successful, this could significantly reduce charging times for EVs.

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