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NIIF’s India-Japan Fund Commits INR 400 Crore Investment in Mahindra’s Last Mile Mobility Division Mahindra Last Mile Mobility Limited (MLMML), part of the big car company Mahindra & Mahindra, got an investment of 400 crore rupees from the India-Japan Fund (IJF). This fund is managed by the National Investment and Infrastructure Fund (NIIF). Mahindra & Mahindra made a deal with IJF to invest this money in their business that focuses on small vehicles for short distances. This includes their three-wheelers (like Alfa, Treo, and Zor) and small four-wheelers (like Jeeto). The deal was made on January 11th. This is the first time IJF has invested in something since it started in August 2023. The IJF has a total of 4,900 crore rupees (which is about 600 million US dollars). It’s supported by the Japan Bank of International Cooperation and the Indian government. The fund aims to invest in projects that are good for the environment and reduce carbon emissions. It also wants to help Japanese companies invest in India and work with Indian companies. Rajesh Jejurikar, a top executive at Mahindra & Mahindra, said they are excited to have IJF join them. They plan to use this investment to grow their business, focusing on electric vehicles for short trips. They believe this will help small business owners and are working on making these vehicles more popular and accessible. With this investment, IJF will own between 6.06% and 8.25% of MLMML, which is valued at up to 6600 crore rupees. “The fund’s investment in MLMML not only underlines our dedication to promoting sustainable and innovative mobility solutions but also strengthens the partnership between India and Japan in high-growth sectors. Together with our partners JBIC, we believe that our investment in MLMML should yield transformative results in the last-mile mobility domain, driving economic growth, generating employment and ensuring environmental sustainability,” said Krishna Kumar G, Partner, IJF, NIIF. Join All India EV Community Click here for more such informative insights

Omega Seiki Mobility Plans to Deploy 500 Electric Three-Wheelers with Kissan Mobility for Last-Mile Deliveries Omega Seiki Mobility (OSM) and Kissan Mobility Pvt. Ltd., a company that focuses on eco-friendly transportation, are working together to use electric three-wheeler cargo vehicles for deliveries in India. They plan to start using 500 of these electric vehicles by June 2024. This project, worth 20 Crores INR, will help in delivering things like online shopping orders and everyday consumer goods in a more environmentally friendly way. People are becoming more aware of the need to protect the environment, and electric vehicles are getting popular because they are cheaper to run and don’t pollute the air. These electric three-wheelers are great for delivering packages and moving goods around factories without making much noise or pollution. As battery technology gets better, these vehicles will become even more important for clean and efficient city deliveries. “We are delighted to join forces with Kissan Mobility (OnEv) in this groundbreaking initiative. This partnership reflects our shared vision for a sustainable and eco-friendly future in the logistics domain. The deployment of our electric vehicles will not only enhance operational efficiency but also contribute to a greener and cleaner environment. Every step we all OEM take brings us closer to electrifying the entire logistics sector. Our commitment to sustainable innovation and eco-conscious solutions aligns seamlessly with Kissan Mobility’s forward-thinking approach, making this collaboration a pivotal moment in the evolution of electric logistics.” Mr. Uday Narang, Founder and Chairman of Omega Seiki Mobility, expressed enthusiasm about the collaboration and said, “We are delighted to be associated with Omega Seiki Mobility as our growth partner for deployment of EV 3 wheeler in our fleet. We are a zero-emission logistic company and committed to changing the logistic landscape of urban and rural areas of the country. We are confident in the product line-up of OSM and their service support, which will be key factors for our expansion. These 500 numbers are just a start, and we aim to deploy 2500 numbers of three wheelers and a similar number of four-wheelers on the road by March, 2025.” Mr. Kamlesh Kaushik, CEO and Founder at Kissan Mobility (OnEv), commented Omega Seiki Mobility is expanding quickly in India, making different types of electric vehicles. They have big factories and are already doing a lot of deliveries in 24 cities. They are focused on creating transportation that is good for the environment and society, aiming to make travel cleaner, safer, and less crowded. They are known for their work in sustainable energy and are working towards a future where transportation is powered by green energy. Join All India EV Community Click here for more such informative insights

Himachal Pradesh Unveils Kiratpur-Manali-Keylong Green Corridor with EV Charging Stations The Himachal Pradesh government is poised to reach a significant achievement with the upcoming inauguration of the Kiratpur-Manali-Keylong green corridor, which features seven electric vehicle (EV) charging stations, as announced in an official statement on Saturday. In his first budget speech, Chief Minister Sukhvinder Sukhu declared plans to establish six green corridors across the state to encourage the adoption of electric vehicles. The Indian Oil Corporation Ltd has strategically set up seven EV charging stations at various locations including Ghandal, Daseran (near Darlaghat), Nauni (near Bilaspur), Jadol, the Ner Chowk bypass, Kullu, and Keylong along the Kiratpur-Manali-Keylong corridor. The charging stations will also be helpful to EV drivers heading from Shimla to Keylong. Sukhu stated that the Transport Department has opened tenders for the construction of 45 more EV charging stations along the other proposed green pathways, and that work is being done to quickly get the remaining five green lanes up to speed. In order to encourage private operators to establish these stations, the government is providing a 50% subsidy. This highlights the significance of choosing locations that have easy access to infrastructure for charging. “The impacts of global warming are clearly visible, and we must take steps to curb the problem. That’s why the government is committed to transform Himachal Pradesh into a Green Energy State by March 31, 2026, and measures have already been implemented, including the Rajiv Gandhi Self-Employment Startup Yojna, under which a 50 per cent subsidy is being provided to purchase e-taxis, e-buses, and e-trucks.” The Chief Minister said. He further stated that as of this year, the government has prohibited the purchase of gasoline and diesel vehicles for use by the public sector. Join All India EV Community Click here for more such informative insights

BPCL collaborates with Trinity Cleantech to establish fast DC charging stations for electric 2Ws and 3Ws Bharat Petroleum has joined forces with Trinity Cleantech, based in Hyderabad, to establish specialized DC fast charging stations for two- and three-wheelers across Uttar Pradesh. This collaboration is set for three years, with the option to extend for an additional two years, subject to mutual agreement on terms and conditions. Under this partnership, Trinity Cleantech Pvt Ltd (TCPL) will initially target cities like Kanpur, Lucknow, Ayodhya, Gorakhpur, Ghaziabad, Noida, Saharanpur, and Agra. The plan is to install these DC Fast Charging Stations at various Bharat Petroleum Corporation Limited (BPCL) outlets throughout the state. Rahul Tandon, Chief General Manager (Marketing) Retail, BPCL said, “BPCL has always been at the forefront of providing all forms of energy solutions for personal and commercial mobility to our esteemed customers. We have entered the exciting phase of energy transition towards clean energy and this partnership is an important step forward in driving the adoption of electric vehicles in the e-two- and three-wheelers segment in the state of Uttar Pradesh. The pooling of resources in the public and private sectors to create necessary infrastructure is a great way to promote electric mobility.” In the presence of Santosh Kumar, Executive Director Incharge Retail, BPCL, and Surender Nath Mandem, Director-TCPL, Rahul Tandon, CGM (Marketing) Retail, BPCL, and Raj Kumar Medimi, Chief Executive Officer, TCPL, signed the Memorandum of Understanding. According to the agreement, TCPL will install the DC fast chargers in BPCL outlets located in major Uttar Pradesh cities, co-branding them, and set up the EV fast-charging stations at BPCL Retail Outlets by BPCL standards and Petroleum & Explosives Safety Organization (PESO) norms for civil and electrical work. With more than 800 EV charging stations across the nation at the moment, TCPL will be in charge of creating demand, handling client complaints, and running and maintaining the fast chargers. Rajkumar Medimi said, “This is a milestone for Trinity Cleantech as we get access to BPCL’s wide network of petrol pumps across the country. This will help us set up DC fast charging stations which will not only give confidence to the industry but will also make life convenient for existing e-two and three-wheeler owners. We are hoping that this partnership will give the necessary fillip to boost EV adoption as well as help fight vehicular pollution and ease environmental conditions.” Content Credit: Express Mobility Join All India EV Community Click here for more such informative insights

Volkswagen Group’s Remarkable Growth in 2023 In 2023, the Volkswagen Group experienced a significant upswing in its global vehicle deliveries, marking a 12% increase from the previous year, totalling 9.24 million vehicles. This growth was driven primarily by strong performances in Europe and North America. A notable aspect of this success was the substantial rise in the delivery of all-electric vehicles (BEVs), which surged by 34.7% to 771,100 units. This increase in electric vehicle deliveries boosted their share of total deliveries to 8.3%, up from 6.9% in 2022. Key Highlights of Volkswagen Group’s Performance in 2023 ✅ Global Delivery Growth: The Volkswagen Group’s total vehicle deliveries reached 9.24 million, a 12% increase from the previous year, with Europe and North America being the main contributors. ✅ Electric Vehicle Surge: Deliveries of all-electric vehicles jumped by 34.7%, reaching 771, 100 units. This growth significantly outpaced the overall market, indicating a strong shift towards electric mobility. ✅ Market Share Expansion: The Group not only increased its deliveries but also expanded its market share in various regions, including Europe, North America, and South America. ✅ Brand Performance: Almost all brands under the Volkswagen Group umbrella recorded growth. SEAT/CUPRA led in the passenger car segment with a 34.6% increase, while MAN topped the truck segment with a 37.1% rise. ✅ Leadership in Electric Mobility: The Volkswagen ID.4/ID.5 models were particularly successful, contributing to the Group’s rise in the electric vehicle market share to 8.3%. Insights and Future Outlook 1️⃣  Strategic Transformation: The Volkswagen Group’s focus on electric mobility is a strategic move aligning with global trends towards sustainable transportation. How will this focus shape the Group’s future market positioning? 2️⃣  Brand Diversification: With various brands under its umbrella showing significant growth, the Group’s diversified portfolio seems to be a key strength. What role will brand diversification play in sustaining its market growth? 3️⃣  Upcoming Launches: The Group plans to introduce several new all-electric models in 2024, including the Volkswagen ID.7 Tourer and the Audi Q6 e-tron. How might these new launches impact the Group’s performance in the electric vehicle market? The Volkswagen Group’s performance in 2023 highlights its successful adaptation to the evolving automotive market, especially in the realm of electric vehicles. The Group’s commitment to electric mobility and its diverse brand portfolio have positioned it well for continued success in the coming years. Join All India EV Community Click here for more such informative insights

Yulu Raises $82 Million in Series B Financing to Expand Electric Vehicle (EV) Operations Northern Arc Capital, a non-banking financial company located in Chennai, has successfully provided debt totalling Rs 25 crore to Yulu, an Indian startup focused on electric mobility. To raise Rs 25 crore, the board of Yulu Bikes reportedly approved a special resolution to issue 250 non-convertible debentures at an issue price of Rs 1,00,000 apiece, according to records obtained from the Registrar of Companies. Yulu had a large increase in funding in September 2022 when US-based Magna International led a Series B funding deal that raised $82 million in equity funding. The startup, known for offering last-mile connectivity through its electric bikes and an extensive network of EV charging and battery swapping stations, operates in major urban areas like Bengaluru, Mumbai, and Delhi-NCR. The Mobility-as-a-Service (MaaS) provider has, through its joint venture Yuma with Canadian automotive supplier Magna, executed more than 6.5 million swaps to date. Yulu has established a strategic partnership with Bajaj Auto, one of India’s leading two-wheeler manufacturers, as a way to demonstrate the company’s ongoing commitment to innovation and growth. Over time, the partnership has expanded to encompass several areas, including product design, technology platforms, engineering procedures, and manufacturing. Yulu has demonstrated encouraging financial improvement by recording Rs 41.74 crore in revenue from operations in the most recent fiscal year, while suffering a loss of Rs 94.88 crore. About Yulu Yulu is a pioneering enterprise in India, offering shared electric vehicles to enhance urban transportation. Established in 2017 by Amit Gupta, RK Misra, Hemant Gupta, and Naveen Dachuri, the company is dedicated to streamlining city commutes, promoting shared and eco-friendly travel options. Utilizing the Yulu app, users can effortlessly locate, unlock, and ride a range of electric bikes and scooters.  Yulu’s operations span across Bengaluru, Mumbai, Navi Mumbai, Delhi, and Gurugram, featuring various electric vehicle models like EasyMo, Wynn XP, Dex NV, Miracle GR, Dex GR, and Miracle CT. The company collaborates with key investors and regulatory bodies to expand its services and fulfill its vision. Strategic partnerships with notable entities like Bajaj Auto, Uber, DMRC, and BMRCL have been instrumental in broadening Yulu’s network and accessibility. Join All India EV Community Click here for more such informative insights