BYD of China has made big gains in sales in the third quarter of 2024 calendar year to overtake Ford Motor Company in vehicle sales for the first time. 
The electric vehicle company has witnessed extraordinary expansion this year as it increased its capacity and hired more manpower. Overtaking Tesla, the electric vehicle automaker made big gains on the back of robust sales in its domestic market by exceeding its annual sales target of four million vehicles. This would be more than the worldwide sale of Honda and Ford in 2024. 
Delivering 3.76 million vehicles in the first 11 months of 2024, according to industry sources, the electric vehicle manufacturer from China reported 506,804 units for November alone. 
Offering BEVs and plug-in hybrids, BYD has clearly achieved a considerable gain in market share in its home market while it pursues a steady growth in exports markets around the world including India. 
Interestingly, 90 percent of all that the company produces is sold in its home market, the export market share being 10 percent unlike some of the other automakers who have a better exports market share in comparison to the vehicles they sell in their home markets. 
According to the October 2024 data by the China Passenger Car Association (CPCA), BYD garnered a market share of 16.2 percent in its domestic market, up from 12.5 percent in 2023. The Volkswagen and SAIC joint venture along with the other joint venture with FAW Group joint venture garnered a market share of 12.5 percent jointly, in comparison. It registered a decline from last year’s market share of 14.2 percent. 
Given the sales BYD has achieved by the first 11 months of the 2024 calendar year, it is likely to end the year by inching closer to the numbers General Motors and Stellantis does. 
 

Image for representative purpose only.

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Ahmedabad-based Samarth E-Mobility, a technology company, has announced the launch of its new electric mobility brand – Avore Electric. Debuting with the tagline ‘Intelligence Beyond Motion,’ the company said its product development philosophy focuses on engineering critical technology systems entirely in-house rather than assembling hardware from third-party suppliers.

Over a three-year development cycle, a team of more than 100 engineers at Samarth E-Mobility's dedicated R&D facility in Ahmedabad has developed over nine critical vehicle subsystems. This vertically integrated development framework is built on AVORE Source, the company's proprietary technology stack and the purpose-built AVR platform two-wheeler architecture.

The company's proprietary engineering portfolio includes a patented Battery Management System (BMS) and custom battery pack; the electric motor, motor controller and power control module. A DC-DC converter and an onboard fast charger. The digital display system and a proprietary vehicle operating system.

By controlling both hardware and software layers, the architecture enables over-the-air (OTA) software updates for continuous product improvements, faster system diagnostics and optimised performance. To protect its baseline engineering innovations, Samarth E-Mobility has filed more than 110 intellectual property applications to date.

Avore Electric’s upcoming range of electric motorcycles will target the 125cc–200cc segment, which represents one of the largest commuter and lifestyle demographics in the Indian two-wheeler market. The vehicles are being specifically engineered to withstand real-world Indian riding and environmental conditions, offering a practical, electric alternative for mainstream riders.

The brand's initial market-entry strategy will focus on component-level transparency, consumer education and product-led storytelling. While specific vehicle performance metrics and launch timelines have not yet been disclosed, product reveals and campaign rollouts are scheduled for the coming months.

Priyank Rakholiya, Co-Founder, Samarth E-Mobility, said, “For three years, we asked ourselves a simple question, why does India's most widely used personal vehicle incorporate so little intelligence. We realised the answer wasn't a missing feature, it was a missing commitment. True intelligence cannot be assembled from off-the-shelf components; it must be engineered from the ground up. That's why we built every critical system in-house. Engineering excellence in intelligence is not a claim for us; it's a methodology that shapes every decision we make.”

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Bengaluru-based electric two-wheeler manufacturer Simple Energy has closed its Series B funding round, securing INR 2.5 billion through a combination of debt and equity.

The funding round was led by the family office of Dr. Arokiaswamy Velumani, alongside Simple Energy’s Founder and CEO, Suhas Rajkumar, and Co-founder and CFO, Ankit Gupta. Financial institutions HDFC Bank and Capitar Ventures, along with other non-banking financial companies (NBFCs), served as debt partners, contributing INR 1.23 billion to the total capital raised.

The EV maker will direct the majority of the Series B proceeds toward manufacturing expansion and scaling up production capacity. The remaining capital is earmarked for sales, marketing and research and development (R&D) to advance its product roadmap and customer experience.

At present, Simple Energy operates at a manufacturing capacity of 3,000 units per month. The company has recently increased investment in its proprietary battery assembly lines, with the output ramp-up scheduled to take effect from August 2026.

To support its next growth phase, the company plans to increase its workforce across key departments, including production, sales and marketing.

The funding coincides with significant top-line growth for the electric vehicle (EV) startup. Simple Energy's annual revenue increased fourfold, rising from INR 400 million in FY2025 to INR 1.70 billion in FY2026.

The brand currently averages monthly sales of approximately 1,500 units. Its retail network comprises more than 71 outlets operating across 38 cities, including Bengaluru, Delhi, Patna and Chennai. As part of its immediate domestic expansion strategy, Simple Energy will shortly enter new markets, including Ranchi, Bhubaneshwar and Cuttack.

Simple Energy has set a target to achieve monthly sales of 10,000 electric scooters by March 2027.

Suhas Rajkumar, said, “The funding reflects strong investor confidence in Simple Energy. This will help us scale production, strengthen our Made-in-India manufacturing stack, and expand access to our long-range, performance-led scooters nationwide. We are seeing clear market demand, with revenues rising 4x from INR 400 million in FY’25 to INR 1.70 billion in FY’26. The funding amounts will be mainly directed towards capacity expansion, targeting monthly sales of 10,000 scooters by March 2027, alongside continued investments in R&D and marketing. This milestone marks Simple Energy’s transition from a homegrown startup to a full-stack EV OEM, reinforcing brand trust and readiness for a long-term path to public markets.”

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Bengaluru-based electric vehicle manufacturer Ola Electric has announced its sales performance for May 2026, selling 15,139 units, down 20 percent YoY.

This marks the third consecutive month of registration growth for the EV maker, with its May 2026 performance rising 23 percent MoM.

The company estimates that the industry volumes last month grew by approximately 15 percent from around 148,000 units in April 2026 to about 170,000 units in May 2026.

Ola Electric attributes the sales improvement to changes in front-end retail structures and improved operational execution across the network. Furthermore, an increase in domestic petrol price also indicates an accelerating market transition toward electric mobility.

"Ola Electric has delivered its third consecutive month of growth, with May registrations rising 23 percent MoM and significantly outpacing industry growth. The strong demand environment, coupled with increasing traction for our Roadster portfolio, has helped us maintain the growth momentum. We remain focused on accelerating EV adoption through innovative products, technology leadership and scale," said the company in a statement.

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Toyota Kirloskar Motor, one of the leading passenger vehicle manufacturers, has finally announced the price of its first battery-electric vehicle in India, the Urban Cruiser Ebella.

The vehicle has debuted in its E3 specification at INR 23,60,000 (ex-showroom), forming part of the manufacturer's strategy to introduce diversified powertrain options.

The EV features a front-mounted electric motor powered by a 61 kWh lithium-ion battery pack, developed on a platform shared with Suzuki's e Vitara. The powertrain produces a power output of 128 kW and 189 Nm of torque. It connects to both AC and DC fast-charging networks, managed via the i-Connect telematics system, which allows users to monitor battery status, schedule charging and control thermal pre-conditioning through a smartphone application.

The model utilises Toyota's design philosophy, featuring a hammerhead front fascia, an aerodynamic profile, LED lighting, dual-tone exterior options and 18-inch alloy wheels. The interior houses a digital cockpit that integrates a 10.25-inch instrument combi-meter and a 10.1-inch central touchscreen supporting wireless Apple CarPlay and Android Auto. Cabin features include ventilated front seats, a 12-colour ambient lighting system, sliding and reclining rear seats, a panoramic roof, and a JBL sound system. The vehicle is distributed across five monotone and four dual-tone paint finishes.

Built on a steel body shell designed to shield the under-floor battery module from impacts, the vehicle includes seven airbags as standard equipment. It incorporates a Level 2 Advanced Driver Assistance System suite that includes adaptive cruise control, lane keep assist, lane departure warning, and rear cross-traffic alerts, alongside a 360-degree surround-view camera network.

The Toyota Urban Cruiser Ebella comes with an 8-year battery warranty and a buyback scheme. Buyers can choose a Battery-as-a-Service (BaaS) procurement framework to separate the vehicle purchase price from battery ownership. For maintenance, the company has equipped more than 500 service touchpoints nationwide with diagnostic tools and charging hardware, employing over 2,500 technicians to deliver a 45-minute maintenance turnaround.

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