EV Update Media – Electric Vehicles and Battery Industry News & Updates

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Industry Forecast

Electric 3-wheeler Market worth $1.5 billion by 2030 Globally, at a CAGR of 2.2%

The electric 3 wheeler market is projected to grow from USD 1.3 billion in 2024 to USD 1.5 billion by 2030, at a CAGR of 2.2%. With the increasing stringency of government mandates, 3 wheeler manufacturers’ focus has shifted to…

Over 4 Million Plugin Vehicles Sold Globally in 2024

Global EV sales reached 1.1 million units in April 2024, according to EV research-house, Rho Motion, bringing year-to-date (YTD) sales to 4.3 million, 22% greater than the same period in 2023. Battery Electric Vehicles (BEVs) represent 64% of units sold…

Few Chinese Electric Cars are Sold in U.S., But Industry Fears a Flood

The Biden administration’s new tariffs on Chinese electric vehicles won’t have a huge immediate impact on American consumers or the car market because very few such cars are sold in the United States. But the decision reflects deep concern within…

Govt Considers Offering Incentives for Lithium Processing

India is considering offering incentives to encourage private companies to set up lithium processing facilities, as New Delhi tries to develop its nascent lithium mining and boost supplies of the EV battery metal, three government sources said. It would offer…

Certificates Granted To 20+ OEMs For Electric Vehicle Subsidies Under EMPS

The Centre has granted certification to over 20 vehicle Original Equipment Manufacturers (OEMs) to participate in the short-term E-Mobility Promotion Scheme (EMPS). According to sources, these 20 companies, including all major two and three-wheeler manufacturers, can now avail incentives under…

20 Energy Firms Create Alliance for EV Charging Via UPI-like System in India

At least 20 energy companies have joined hands to create an alliance for an open energy network called the Unified Energy Interface (UEI), which is a unified payments interface (UPI)-like system for EV charging, the firms said in a statement…

India’s Passenger EV Market Will Hot up in Next 3-4 Years

In 2023, India’s passenger vehicle sales grew 10% YoY, but its electric vehicle (EV) sales nearly doubled to account for 2% of the overall PV sales. This EV surge in EV sales can be can be attributed to factors like,…

Global EV Sales up 12% in March, Down 9% in Europe, Rho Motion Says

Global sales of fully electric and plug-in hybrid vehicles (PHEVs) rose 12% in March versus the same month in 2023, with growth in China and the U.S. market partly offset by a 9% drop in Europe, market research firm Rho…

Electric Vehicles: India’s Share in Global PV Market May Rise to 7% by 2040

A latest estimate by Goldman Sachs has stated that India’s share of the global electric passenger vehicle market may go up to 7.1 per cent by 2040 from the current level of 1 per cent in 2024. As per estimates…

Robust Charging Infrastructure Needed To Achieve EV 30@30 Target

In recent years, Electric Vehicles (EVs) have proven to be a key solution to address pollution and carbon footprint issues in the country with its burgeoning population and rapid urbanisation. However, a total of 21.7 lakh electric vehicle have been…