1. India continues to be the world's largest electric 3-wheeler market.
India has been ranked the world's largest market for electric three-wheelers, above China, for the 2nd year in a row. A recent report by the International Energy Agency (IEA) states that India witnessed a 20% increase in E3W sales leading to 7 lakh EVs in 2024.
The IEA’s ‘Global EV Outlook 2025’ report mentions that the global electric three-wheeler market is highly concentrated, with India & China accounting for more than 90% of total E3W sales. The report further mentions that India’s E3W sales growth is likely to continue with the government’s support under the PM E-Drive scheme. Apart from electric 3-wheelers, the report also states that India has seen rapid growth in electric bus deployment as well. Since 2020, the number of e-buses has increased nearly 4-fold from around 3000 to more than 11,500 at the end of 2024.
2. Euler Motors raises Rs 638 crore in funding round led by Hero MotoCorp.
Commercial EV startup Euler Motors has raised Rs 638 crore in its latest Series D funding round led by Hero MotoCorp & British International Investment (BII). Euler will use this funding to expand its sales & service network and develop new commercial electric vehicles.
Euler Motors has now raised a total of Rs 1420 crore, (including this Series D funding). The company’s previous investors include Blume Ventures, Athera Venture Partners, ADB Ventures & Piramal Alternatives.
3. Tata Harrier EV set to launch on June 3.
Tata Motors will launch the Harrier EV on 3rd June 2025. The launch will take place 4 months after the electric SUV was showcased in near-production form at the 2025 Bharat Mobility Global Expo in January.
The Harrier EV will look similar to the conventional fuel-powered Harrier facelift. Tata Motors has confirmed that the Harrier EV will come with a dual-motor all-wheel-drive (AWD) setup. The EV is expected to be priced around Rs 25 lakh, and will take on the Mahindra XEV 9e, BYD Atto 3 and MG ZS EV.
4. High-level meeting held to review implementation of EV charging infra under PM E-Drive scheme.
Union Minister for Heavy Industries H.D. Kumaraswamy chaired a inter-ministerial meeting today with officials from the Ministry of Petroleum and Natural Gas, Ministry of Road Transport and Highways & the Ministry of Heavy Industries to review the implementation of EV charging infrastructure under the PM E-Drive scheme. With a financial outlay of Rs 2000 crore, the scheme will support the installation of around 72,000 public EV charging stations across the country.
BHEL was announced as the nodal agency for demand aggregation and development of a ‘super app’ that will serve as a single platform for EV users across India. The app will feature functions like real-time charger booking, online payment, charger availability status & charging progress dashboard. BHEL will also coordinate with states and ministries to gather and assess proposals for charger installation.
5. Delhi Government clears proposal for extra subsidy on residential rooftop solar panels.
The Delhi Government has approved a proposal to offer an additional subsidy of Rs 30,000 for households installing 3 kW rooftop solar panels, aiming to boost adoption of solar energy in the national capital. With this, the total subsidy being offered is now Rs 1.08 lakh, which is the highest subsidy offered in the country under the Prime Minister Surya Ghar Yojna. Before this nod, people were receiving a subsidy of Rs 78,000 for installing solar panels at their residence. Now, an additional subsidy of Rs 10,000 per kW (which equals to Rs 30,000 for a 3 kW solar installation) has been cleared.
The Delhi Government has allocated Rs 50 crore for this scheme. It is expected that rooftop solar panels will be installed at 2.30 lakh residential units in the national capital in the next 3 years.
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