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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Mumbai-based green mobility company Odysse Electric Vehicles has announced the appointment of Sudhir Goel as Co-founder, which it aims to enable it to transition as a professional organisation entering its next growth phase in the Indian electric vehicle (EV) sector.

Goel joins the company with almost three decades of experience in the automotive and engineering industries. His previous roles include leadership positions at Ford Motor Company in Japan, CEO of Jay Ace Technologies and President of Lithium Batteries at Greenfuel Energy Solutions.

In his new role, Goel will oversee two primary areas – streamlining the supply chain and manufacturing processes to address market demand. He will also be responsible for the company’s retail footprint across India.

Nemin Vora, the company’s Founder, will continue as CEO, leading brand vision and product development in partnership with Goel.

Nemin Vora, said, “Odysse Electric is no longer just new startup; we are a significant player in the national mobility conversation. The appointment of Sudhir Goel as Co-Founder is a testament to our evolution. His professional pedigree and track record will provide the structural backbone we need to drive long-term growth."

Sudhir Goel, stated "I am excited to join Odysse at this pivotal stage. The company has built a strong foundation with innovative products and a clear vision. I look forward to leveraging my experience to scale operations, strengthen the EV ecosystem, and drive Odysse towards becoming a significant player in the sustainable mobility revolution."

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A prototype of the upcoming Kia EV2 has demonstrated robust cold-weather performance in one of the world's most demanding real-world evaluations. During the record-breaking cold edition of the Norwegian Automotive Federation's El Prix Winter Test Drive, where temperatures plummeted to -31°C, the EV2 covered 310.6 kilometres before stopping. This event subjects electric vehicles to identical real-world driving and charging conditions on Norwegian roads, and this year's winter test was the coldest in its history.

The tested vehicle was a 'GT-line' variant equipped with a 61.0 kWh long-range battery and 19-inch wheels. Driven for over five hours in the mountainous Jotunheimen region with temperatures around -21°C, its achieved range represented a deviation of -24.81% from its target WLTP figure of 413 kilometres for this configuration. This unofficial result would place it ahead of all officially entered series-production models. While its prototype status excludes it from the NAF's formal report, it completed the route under the same stringent conditions as production vehicles.

The EV2 also showcased resilient charging capability in the extreme cold. Utilising its rapid DC fast-charging function, the prototype recharged from 10 percent to 80 percent state of charge in 36 minutes. This was only six minutes longer than its official target, underscoring the model's practical everyday usability. The car is based on Kia's 400V E-GMP architecture, supporting 11 kW AC, 22 kW AC and DC fast charging.

As Kia's second fully electric model to be manufactured at its European facility in Žilina, Slovakia, the EV2 is currently in production with a 42.2 kWh standard-range battery. The long-range battery version and the 'GT-line' variant are scheduled to follow from June 2026. Final, formal WLTP range figures, determined under standardised laboratory conditions, are anticipated in the third quarter of 2026.

This performance aligns with the proven capability of Kia's European-built EVs. In the same arduous winter test, the EV4 – the first electric model from the Žilina plant – with an 81.4 kWh battery and 19-inch wheels achieved 390 kilometres, ranking among the top overall performers and reinforcing the brand's consistent real-world electric vehicle performance in adverse conditions.

Pablo Martinez Masip, Vice President – Product and Marketing, Kia Europe, said, “This result serves as proof that the EV2 will continue to deliver reliable range even in extremely low temperatures. Being the entry point to Kia’s EV lineup does not mean compromising; the EV2 offers customers throughout Europe an affordable yet reliable way to enter electric mobility.”

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Ecofy, a green-focused NBFC backed by Eversource Capital, has entered a strategic partnership with Ather Energy to provide financing for electric two-wheelers. Under the agreement, Ecofy plans to deploy INR 1 billion in capital to support the purchase and ownership of Ather vehicles.

The collaboration is intended to improve access to green financing and address barriers to electric vehicle (EV) adoption, such as upfront costs and uncertainty regarding asset value.

Ecofy will serve as a preferred financing partner, offering Ather customers a range of options beyond standard vehicle loans:

• Leasing Solutions: Providing alternatives to traditional ownership.
• Assured Buyback: Structures designed to offer certainty on future asset value.
• Battery-as-a-Service: Separating battery costs from the vehicle purchase to reduce initial expenditure.

The partnership combines Ather Energy's manufacturing and technology with Ecofy's retail-focused finance platform. The goal is to stimulate demand across both urban and emerging markets in India by simplifying the purchase journey for first-time EV buyers.

Rajashree Nambiar, Co-Founder, MD & CEO, Ecofy, said, “Clean transportation is critical to India’s green transition, and wider adoption depends on access to the right financing solutions. Our partnership with Ather Energy brings together strong product offerings and specialized green finance, helping customers adopt EVs with greater confidence, affordability, and flexibility.”

Ravneet Phokela, Chief Business Officer, Ather Energy, said, “Financing is an important consideration in the two-wheeler purchase journey, particularly for customers exploring EVs for the first time. Over the years, we’ve worked to build a strong financing ecosystem to make Ather accessible across markets. This partnership with Ecofy further broadens the range of financing options available to customers looking to buy an Ather, making the purchase and ownership journey easier to navigate. It helps simplify the decision-making process and supports broader access to electric two-wheelers.”

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Pune-based Kinetic Watts & Volts (KWV), the electric vehicle division of the Kinetic Group, has received approval for incentives totalling approximately INR 420 million under the Government of Maharashtra’s Electric Vehicle Policy. The benefits will be realised in phases over a 10-year period.

The state policy provides capital-linked support, tax exemptions and incentives for component manufacturing to establish Maharashtra as a hub for electric vehicle production.

The qualification for the scheme was based on the company’s localisation efforts for its Kinetic DX electric scooter. Designed from the ground up, 99 percent of the vehicle’s components are tooled and sourced within India. At present, the company is manufacturing the e-scooter from its Ahilyanagar facility in Maharashtra.

The company stated it has invested approximately INR 700 million in manufacturing infrastructure, which includes establishing production lines for critical subsystems, aiming to reduce supply-chain dependencies.

The Kinetic DX EV features a metal body and 37 litres of under-seat storage. The model includes patented features such as Easy Charge, Easy FLIP and Easy key.

The company has commenced sales and service operations in Pune, Mumbai, Vadodara and Surat, with plans for national expansion. The subsidies will be utilised to scale production of the DX EV range, chassis sub-assembly lines, and the Range-X battery assembly operations.

Ajinkya Firodia, Vice-Chairman & Managing Director, Kinetic Watts & Volts, said, “The Maharashtra EV Policy is a progressive step toward building a strong domestic EV ecosystem. The incentive linked to our investment of around INR 700 million, supports our strategy of robotics-led manufacturing and in-house battery assembly. This will help us accelerate localisation, expand production capacity, and deliver durable, safe and accessible electric mobility solutions for Indian families at scale.”

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