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November 2020 monthly Updates EV November 2020 Lead Sponsor HIGH PERFORMANCE RANGE Upto Life cycle EXCLUSIVE FEATURES High Energy Lightweight & Fast & Efcient High Temperature Density Compact Size Charging Performance OUR LITHIUM ION BATTERIES ARE MANUFACTURED WITH UTMOST CARE & PASSES THROUGH 30+ QUALITY TESTS BEFORE REACHING YOU Combustion test Acupuncture test Thermal shock test Drop test Temperature cycling test 1800-2121-321 • [email protected] • www.waaree.com HIGH PERFORMANCE RANGE Contents 1. New Product launches | 4 2. Tenders | 6 3. EV Sales trends | 7 4. Policies | 10 5. Charging Infrastructure | 10 6. Partnerships, JVs & Expansions | 13 7. Investments | 13 8. Other interesting reads | 14 Upto 9. Global market updates | 16 Life cycle EXCLUSIVE FEATURES High Energy Lightweight & Fast & Efcient High Temperature Density Compact Size Charging Performance OUR LITHIUM ION BATTERIES ARE MANUFACTURED WITH UTMOST CARE & PASSES THROUGH 30+ QUALITY TESTS BEFORE REACHING YOU 3 Combustion test Acupuncture test Thermal shock test Drop test Temperature cycling test 1800-2121-321 • [email protected] • www.waaree.com 1. New Product Launches Omega Seiki unveils smart electric three-wheeler range Omega Seiki Mobility has expanded its electric three-wheeler range with the unveiling of three new smart EVs that are aimed at both, B2B and B2C segments. The new range of electric vehicles by Omega Seiki includes Sun Ri (electric three-wheeler cargo), Ride (E-rickshaw), and Stream (electric passenger auto-rickshaw). The new range of smart electric three-wheelers by Omega Seiki come with zero maintenance Li-Ion battery with a swappable option. The EVs can touch a top speed of up to 50 kmph. The loading capacity ranges between 750-960 GVW. Also, they offer up to 100 km range in a single full charge. The battery on these EVs takes three to four hours to get charged from 0 to 100 percent. Upcoming CK Motors plans to launch electric three-wheelers soon Launches After the successful launch of electric scooters and bicycles, Tirupur- based CK Motors is all set to unveil electric commercial three-wheelers and four-wheelers in the next two months. The company has set up a manufacturing unit in Thekkalur with an investment of Rs 35 crore and the vehicles are in testing stage and commercialised in another two months. The company has entered into a joint venture with Hyderabad-based Pure EV to manufacture lithium-ion batteries needed for all the vehicles. The company will manufacture 1,000 EVs a month and increase it to 3,000 vehicles, once the dealers are appointed across South India. Infraprime Logistics to rollout 1,000 heavy electric trucks in India Infraprime Logistics Technologies, a start-up in construction logistics is planning to rollout 1,000 heavy duty electric trucks in India post successful commercial run of its fleet of 55-MT electric trucks over the last one year. The commercial run demonstrated up to 60% cent savings in operating cost over conventional diesel trucks. The company launched electric trucks in India in August 2019, which garnered significant attention as it pioneered industry-first air-conditioned battery pack with 600,000km warranty. 4 Ola to introduce e-scooter by Jan next year: Sources Ride-hailing major Ola is foraying into electric scooter manufacturing and plans to hit the market with its first vehicle in January next year. The electric scooter, initially manufactured at a facility in the Netherlands, will be sold in India as well as Europe. Omega Seiki plans to launch electric tractor, cargo pick-up truck Omega Seiki Mobility aims to bring in multiple electric products including two-wheelers, a four-wheeler cargo vehicle and a tractor over the next two years. The company, which is a part of the Delhi-based Anglian Omega Group, also aims to set up manufacturing facilities across various parts of the country. Omega Seiki already has multiple manufacturing sites in Delhi/NCR. The company also plans to have around 200 dealerships across the country by the end of next year. It has earmarked an initial investment of INR 200 crore for the projects and going ahead aims to raise another INR 1,000 crore in order to fund the expansion plans. Startup Pure EV to launch e-scooter Etrance Neo next month IIT-Hyderabad incubated startup PURE EV has announced that its high- speed long-range electric scooter Etrance Neo will be launched next month at an ex-showroom price of Rs 75,999. The new model that offers a higher pickup and longer range combined with modern aerodynamics will be launched on December 1, 2020. The new model will be available first in Hyderabad and will be available pan India from our outlets pan India from mid of December 2020. The Etrance Neo offers a pick-up speed of 0 to 40 kmph in five seconds. It is powered by a 2,500 Wh-patented battery with a range performance of 120 KM for a single charge in ‘Eco Mode’. 5 2. Tenders and EOI Table 2.2: Tenders in November 2020 Tender Bid submission Tender name Authority End date RFP for Selection of Service Provider for Procurement, Operation Bangalore Metropolitan and Maintenance of 300 Non AC Electric Buses on Gross Cost 19-Nov-2020 Transport Corporation Con-tract (GCC) Model under FAME II Scheme Inviting request for Proposal for the Hiring of 50 Nos of single axle Kerala State Road 11-Dec-2020 12 Mtr Non-AC Electric Buses on wet lease under FAME-II Scheme Transport Corporation Selection of Bus Operator for Supply, Operation and Maintenance Assam State Transport of 100 AC Electric Buses on Gross Cost Contract basis in the cities 03-Dec-2020 Corporation of Guwahati, Jorhat and Silchar in the state of Assam E-tender for hiring of 40 nos midi (9.0 mtrs) air conditioning (without Chandigarh City Bus heating system) fully built pure electric buses including bus charg- Services Society, Chan- 18-Dec-2020 ing stations on kilometer basis for a period of 10 years digarh 6 3. EV Sales Trends The sales of EVs in Nov-20 have surged by 15% over October’s sales, registering 12,488 units. The cumulative sales of registered EVs from Jan-Nov 2020 is about 104,270 units. For the same period, among all the states/ UTs, Uttar Pradesh leads in the sales of registered EVs (26%) in India, followed by Delhi (11%) and Bihar (10%). Fig 3.1: Registered EV sales in India (Jan – Nov 2020) 18000 16,435 16,149 Others, 14% 16000 Uttar Pradesh, 26% 14000 13,626 12,488 Rajasthan, 4% 12000 10,672 10,883 10000 Tamil Nadu, 5% 7,512 EV Sales EV 8000 8,117 Cumulative sales 1,04,270 units 6000 Maharshtra, 6% 6,210 4000 Delhi, 11% 2000 Assam, 7% 901 1,277 0 Karnataka, 8% Bihar, 10% Jul-20 Apr-20 Jan-20 Oct-20 Jun-20 Mar-20 Feb-20 Sep-20 Nov-20 Aug-20 May-20 West Bengal, 9% Source: Vahan Dashboard, JMK Research Note: Sales figure represent EVs registered across 1261 RTOs in 33 states/ UTs. Furthermore, during Nov-20, Uttar Pradesh (22%) recorded the highest registered EV sales. It is followed by Delhi (12%) and Karnataka (11%). Fig 3.2: (State/ UT) Region- Others, 14% wise registered EV sales - Uttar Pradesh, 22% November 2020 Tamil Nadu, 6% Rajasthan, 6% November sales 12,4 units Maharshtra, 8% Delhi, 12% West Bengal, 8% Karnataka, 8% Assam, 8% Bihar, 8% Source: Vahan Dashboard, JMK Research Note: Sales figure represent EVs registered across 1261 RTOs in 33 states/ UTs. 7 High-Speed In the high-speed (HS) E2W segment, the cumulative sales of Ampere, Electric Two Ather, Hero Electric, Okinawa and Revolt in Nov-20 is 3030 units. This is the first time in 2020 that the cumulative monthly sales of the 5 brands have Wheeler crossed 3000 units in the HS segment. Leading the charge is Hero Electric (E2W) with more than 1100 unit sales, followed by Okinawa (614) and Ampere (524). Fig 3.3: Player-wise high-speed E2W sales trend 1600 1400 1200 1000 800 600 Hero Electric Okinawa 400 Ampere High Speed E2W Sales High Speed E2W Ather 200 Revolt Others 0 Jul-20 Apr-20 Jan-20 Oct-20 Jun-20 Mar-20 Feb-20 Sep-20 Nov-20 Aug-20 May-20 Source: Vahan Dashboard, JMK Research Note: Sales figure are for only high range E2W models with speed higher than 25kmph. Sales figure repre- sent E2Ws registered across 1261 RTOs in 33 states/ UTs. 8 Electric The combined sales of (both passenger and goods-type) registered E3Ws Three in November have reached 8160 units, growing by 7.8% over October sales. The passenger-type E3W accounts for 91.6% of the total E3W sales for Wheelers November. The cumulative sales of cargo and passenger (registered) E3Ws (E3W) during Jan-Nov 2020 is 76,931. Fig 3.4: Sales trend of cargo E3W and passenger E3W 14000 12,550 E3W - Cargo 12,781 E3W - Passenger 12000 10000 9,937 8000 7,477 6,797 6,925 6000 5,175 4,124 5,065 4000 569 Number of Vehicles registered Vehicles of Number 2000 578 759 683 467 331 331 460 564 625 647 56 30 0 Jul-20 Jan-20 Apr-20 Oct-20 Jun-20 Mar-20 Feb-20 Sep-20 Nov-20 Aug-20 May-20 Source: Vahan Dashboard, JMK Research Note: Sales figure represent E3Ws registered across 1261 RTOs in 33 states/ UTs. 9 4. Policies Chandigarh: Centre to grant city subsidy of Rs 50 lakh for each electric bus The central government will grant a subsidy of Rs 50 lakh for each electric bus of the 80 sanctioned for the city.
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