Korean automaker Hyundai Motors has revealed long-term plans to manufacture electric cars in one of its largest markets — India. The company initially plans to import electric cars in India, and eventually turn it into a manufacturing hub.
Just days after Indian EV manufacturer Mahindra Electric announced plans to partner with LG Chem to develop new lithium-ion cells and battery packs exclusively for the Indian market, its main competitor Tata Motors has thrown a counter punch.
The Nikkei Asian Review has taken note of a recent remark by India’s Minister for Power and Renewable Energy that may indicate a significant downgrade of India’s earlier stated goal to fully switch to electric vehicles by 2030.
Mahindra & Mahindra, one of India’s leading companies in electric mobility in India, is moving very aggressively towards grabbing a major share in the budding Indian electric cars market. The Indian carmaker has announced a partnership with Korean LG Chem for supply of high energy density lithium-ion cells.
A small company based in New Delhi has announced a huge plan to take advantage of the impending explosion in battery demand in India.
South Korean automobile giant Hyundai has announced plans to launch nine new models in India over the next three years, including at least one electric vehicle.
Indian automaker Mahindra & Mahindra is fast emerging as the leading supplier of electric vehicles in the country as it bagged a fresh order from a private company.
India is likely to announce a dedicated policy for electric vehicles, which would include a number of incentives for buyers of these vehicles.
Toyota has revealed that it will be marketing and selling over 10 all-electric vehicle models around the world by the early 2020s and investing around or over ¥1.5 trillion ($13 billion) into the development of battery technology through 2030 as well.
As part of our new “What Changed … ?” series, here’s a rundown of what changed in November in the EV market. Since this is a new series, I’ll reiterate what I wrote in the solar update (changing a few words): “To further clarify, this article doesn’t include interesting op-eds about solar and it doesn’t include news that we thought was worth covering but wasn’t really a change in the industry (like specific projects or reports — well, for the most part). It covers significant shifts, trends, and new opportunities in the solar market.”
Also, this update excludes battery stories since I covered EV batteries this month in “What Changed In The EV Battery Market In November?“
