EV MANUFACTURING IN INDIA
Mahanagar Gas, Gujarat Gas poised for gains as CNG adoption surges; Siddhartha Khemka sees 10-20% upside
India’s City Gas Distribution (CGD) sector has emerged as a resilient and strategically vital component of the energy landscape, supported by rising CNG adoption, expanding infrastructure, and favorable cost economics.
Oswal Pumps' Rs 1,387 crore IPO opens for subscription. Should you bid?
Oswal Pumps launched its IPO on June 13, closing on June 17. The IPO price is Rs 584–614 per share. The company aims to raise funds through fresh shares and an offer for sale. Oswal Pumps already secured Rs 416 crore from anchor investors. The company manufactures solar pumps and related products.
Niti Aayog: Central incentives only for zero emission vehicles
Niti Aayog emphasised that taxpayer funds would incentivise zero-emission vehicles like EVs, while hybrids, being more fuel-efficient, won't be penalised. India aims to become an EV manufacturing hub, fostering innovation and supply chain control through initiatives like IIT research and GST rationalisation.
Rare earth magnets: Maruti Suzuki explores multiple options to ensure operational continuity
Maruti Suzuki India is actively seeking solutions to maintain production amidst the rare earth magnet shortage, triggered by China's export restrictions. While operations remain unaffected for now, the company is closely monitoring the evolving situation. The Indian auto industry anticipates potential production issues, particularly for EVs, and is seeking government assistance to expedite import approvals from China.
Need of 6,900 acre land, USD 9 bn investment by 2030 to set up EV infra: Report
Savills India reports that India's EV market growth, fueled by government policies and rising fuel costs, will require significant real estate investment. By 2030, an estimated USD 7.5 to 9 billion will be needed for land acquisition and facility development for EV manufacturing, battery production, and charging stations.
Over 200 electric car makers to participate in IESW 2025
India Energy Storage Week (IESW) 2025, hosted by IESA, anticipates over 200 global EV manufacturers, aiming to boost India's manufacturing hub vision. Government policies like PLI and FAME are fueling EV market growth, projected to reach USD 117.78 billion by 2032. SPMEPCI focuses on electric four-wheelers, attracting investments and fostering indigenous manufacturing.
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Texmaco Rail could be railway sector’s dark horse: Mayuresh Joshi
Mayuresh Joshi discusses the railway sector's potential, highlighting positive budgetary allocations and new projects. While manufacturing stocks like Titagarh and Texmaco Rail face margin constraints, infrastructure and financing stocks offer selective opportunities. Joshi also addresses Maruti's production adjustments due to rare earth magnet issues, anticipating a potential recovery in the auto sector's EV segment.
Multibagger or IBC - Part 10: 4% R&D spend, 300 patents; this company’s DNA has changed for the better
Sometimes, it’s the quiet ones you need to watch. This company spotted the EV shift in 2010, long before it was trendy, and has built a full-stack offering. Its latest EV tie-ups, including one that jacks up kit value to levels considered high in the industry, are a sign of how deep the EV play runs. With exports making up 9% of revenue and 700+ aftermarket dealers in India, it’s not just riding the OEM demand wave. Add to that 300+ patents and rising R&D spends, and you have a company betting big on innovation. Clearly one to track if you're following India’s EV transformation.
Maruti Suzuki cuts near-term EV production by two-thirds amid rare earths crisis
Maruti Suzuki is significantly reducing its initial production target for the e-Vitara EV due to rare earth material shortages stemming from China's export restrictions. The company now aims to produce approximately 8,200 vehicles in the first half of FY25-26, a substantial decrease from the original plan of 26,500.
Petrol’s popularity runs out of gas in FY25 as CNG's market share more than triples in 5 years
Car buyers in India are increasingly choosing compressed natural gas (CNG) vehicles due to high fuel prices and more options in a slow market. The share of CNG models in passenger vehicle sales rose from 6.3% in 2019-20 to 19.5% last fiscal, overtaking diesel cars. Petrol cars’ share dropped from 76.3% to 57.7%, while diesel sales stayed stable at around 17-19%.
Deep tech startup Vecmocon Tech raises $18 million in round led by Ecosystem Integrity Fund
Vecmocon Technologies, a deep-tech EV startup, raised over $18 million in Series A funding led by EIF, with Aavishkaar Capital, BII, and Blume Ventures. The funds will enhance R&D, expand teams, boost EV system capabilities, and support global ambitions with intelligent, safety-critical solutions designed for Indian and international electric vehicle markets.
Hyundai shares soar 7% to surpass IPO price, hit new all-time high amid high volumes
The surge in Hyundai Motor India could be attributed to multiple factors, including RBI’s repo rate cut, boosting auto demand, the company's gains in India’s electric vehicle market, and its investment in renewable energy. Hyundai's EV strategy and macroeconomic tailwinds are seen as key growth drivers.
Next biggest opportunity will be thrown up by manufacturing in India: Mihir Vora
Mihir Vora of Trust Mutual Fund highlights India's manufacturing potential, driven by technology adoption and untapped resources. He favors domestic-focused sectors like financials and industrials, while being cautious on healthcare due to uncertainties. Vora sees significant opportunities in automation, robotics, and AI, anticipating a rise in listed companies in these areas.
Tata Motors aims to race past Hyundai, M&M riding on Rs 35,000 crore of investments
Tata Motors is investing heavily to challenge Hyundai in India. The company aims for a 16% market share by FY27, targeting 18-20% later. Focus areas include electric vehicles, software-defined vehicles, and new powertrains. Tata plans key product launches like the Sierra SUV. The company is expanding charging infrastructure significantly. They expect positive EV division EBITDA in FY26.
Power shift: How Tesla’s turmoil is steering global capital towards India
A public clash between Elon Musk and Donald Trump in early June 2025 triggered a massive selloff of Tesla stock, erasing $150 billion in market capitalisation. This turmoil, however, presents a significant opportunity for India.
Urgency grows in Motown India as rare earth deadlock deepens, call goes out to govt for help
The Indian automobile sector is urging the government to facilitate quicker approvals from China for importing rare earth magnets crucial for various applications, especially in electric vehicles (EVs). With China controlling a significant portion of the global supply, the recent export restrictions are causing disruptions in production and could lead to increased costs for manufacturers.
China says willing to improve communication with countries on rare earth controls
China said it has approved some rare earth export requests and aims to refine its approval process. The move comes as India faces growing shortages, with recent export requests reportedly denied.
KP Group, Delta Electronics India ink 3 strategic initial pacts
KP Group and Delta Electronics India have forged three strategic agreements to advance clean energy solutions. The collaboration focuses on Battery Energy Storage Systems (BESS), green hydrogen infrastructure, and solar PV inverters. KP Group will handle project development and site integration, while Delta will provide technology and support, aiming to accelerate renewable energy deployment in India and overseas.
Indian EV Industry being hurt by additional restrictions on rare earth minerals by China: Jefferies
Indian EV companies are facing challenges due to China's restrictions on rare earth metal exports. Importing magnets, crucial for EV motors, has become difficult. Companies might consider importing fully assembled motors, but this poses new challenges. The Indian government is exploring options like building stockpiles and offering incentives for domestic production.
India likely to attract investments worth Rs 8,000 crore at India Energy Storage Week 2025
India Energy Storage Week 2025, scheduled for next month in New Delhi, is projected to draw over Rs 8,000 crore in investments for energy storage, electric vehicles, and green hydrogen. The event, hosted by IESA, anticipates participation from over 1,000 companies and international delegates. IESA also projects Indian mobility and battery startups will attract USD 500 million within a year.
Tesla secures fourth India office in Mumbai as part of expansion strategy
Tesla has leased a 24,500 sq ft office in Mumbai’s Kurla as part of its growing India presence, marking its fourth office in the country. The five-year lease, valued over ₹24 crore, follows Tesla’s recent showroom lease in BKC. These moves signal Tesla’s increasing operational focus and preparation for future manufacturing amid evolving EV policies in India.
India's new flagship EV policy to be a ‘non-starter’ for global biggies
India is launching an EV policy to attract global automakers, offering reduced import duties for companies investing in local manufacturing. Tesla is unlikely to participate due to its preference for imports over local production.
Merc, Skoda-VW may make in India, Tesla to stay away: Musk’s electric car co only interested in setting up sales outlets, says Kumaraswamy
India's new EV scheme allows carmakers to import 8,000 units at reduced tariffs if they establish local manufacturing. Mercedes-Benz, Skoda-Volkswagen, Hyundai, and Kia have expressed interest, while Tesla seeks only to open showrooms. The scheme aims to boost India's EV manufacturing hub status, requiring domestic production within three years and a minimum investment of Rs 4,150 crore.
Skoda, Mercedes, Kia, Hyundai keen to manufacture EVs in India: Kumaraswamy
Union Minister H D Kumaraswamy announced that Mercedes Benz, Skoda-Volkswagen, Hyundai, and Kia are considering manufacturing electric vehicles in India, with the application window for the SPMEPCI opening soon. The scheme aims to boost domestic EV production and reduce emissions, offering incentives for manufacturers who invest and produce EVs locally.
India to open flagship EV making policy to lure global giants
India is preparing to open applications for its flagship EV policy, which offers reduced import duties to global electric vehicle manufacturers that commit to local production. Under the policy announced in March 2024, companies investing at least ₹41.5 billion (around $500 million) in a local plant within three years can import up to 8,000 EVs annually at a reduced 15% duty—down from 70%.
Tesla not interested in manufacturing in India, minister says
Tesla is unlikely to manufacture in India soon, according to Heavy Industries Minister Kumara Swamy, despite securing showroom space and job listings. India plans to invite applications under a new EV policy offering lower import duties (15% vs 70%) to automakers investing $486 million in local production.
Why aren’t we having Teslas in India?: Elon Musk's father hints at India potential as Tesla skips manufacturing pitch
Amidst speculation about Tesla's India entry, Elon Musk's father expressed surprise at the company's absence, considering India's potential and the presence of competitors like BYD and Tata. Despite government efforts to attract Tesla for local manufacturing, the company seems more interested in showrooms, raising concerns about missing out on India's growing EV market.
Asian underdog & global biggies hit accelerator when Musk dodges desi market challenge
Vietnam’s Vingroup is entering India’s growing EV market through its arm VinFast, just as Tesla, after years of delay, prepares for its India launch. VinFast plans to open an assembly plant in India by June, backed by a $2 billion investment in Tamil Nadu. Although VinFast doesn’t see Tesla or BYD as direct competitors, India’s crowded EV space—with players like Maruti Suzuki, BYD, Hyundai, and MG Motors—poses challenges.
Tesla unlikely to make in India, will focus only on imports: All you need to know
The government is gearing up to invite formal applications under its new flagship policy, Scheme to Promote Manufacturing of Electric Passenger Cars in India (SPMEPCI). The scheme promises a reduced import duty of 15% from the current 70% for automakers that invest at least $486 million in local manufacturing.
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