1. Tesla looks towards India to diversify global supply chain.
Tesla is reportedly in talks to diversify its semiconductor sourcing by partnering with key players in India. The EV maker is in talks with semiconductor companies, including US-based Micron and Mumbai’s CG Semi (part of the Murugappa Group), in addition to its existing collaboration with Tata Electronics. This decision comes as Tesla aims to reduce dependence on China amid rising geopolitical tensions. Talks with Micron, CG Semi and Tata Electronics are focused on understanding their production capacities and timelines for chip production. Tesla aims to secure a reliable supply of ‘legacy node chips’, which are essential for the functioning of EVs. Given the global chip shortage and the need for dependable supply chains, Tesla’s move to engage with new suppliers is seen as a strategic pivot.
Micron & CG Semi are setting-up assembly & testing facilities in Gujarat, while Tata Electronics is investing in ‘Outsourced Semiconductor Assembly and Testing (OSAT)’ facilities in Gujarat & Assam. These developments are important in ensuring Tesla has what it needs to support its semiconductor requirements for years to come. If successful, this partnership could be a major boost for India, positioning the country as a major player in the global supply chain.
Apart from semiconductors, Tesla is also expected to increase its auto component sourcing from India from companies like Sona BLW Precision Forgings, Hindalco, Sundram Fasteners, Suprajit Engineering, Sandhar Technologies, Samvardhana Motherson, Bharat Forge, Varroc Engineering, among others. This will include a wide range of parts, including wiring harnesses, forged & cast components, electric motors, gearboxes, suspension systems, sheet metal components, electric powertrain modules and ceramic & ball bearings. While Tesla has yet to set-up a manufacturing facility in India, its growing procurement from the country points towards the company’s long-term commitment to the Indian market.
2. CATL showcases new battery with ultra fast charging tech.
Chinese battery major Contemporary Amperex Technology Co. Ltd. (CATL), has unveiled a battery it claims has set a ‘new global record for ultra fast charging’. The company claims its second-generation Shenxing LFP battery can add 520 km of range from just 5 minutes of charging. This appears to place CATL’s fast charging ahead of that of BYD’s that claimed to add 400 km in the same time. Around 67 electric car models are expected to adopt the Shenxing battery by the end of this year.
Apart from this, CATL also introduced a new sodium-ion battery brand called Naxtra. The next-gen sodium cells can further lower the cost of EVs without compromising on performance.
3. Stellantis set to launch EV brand Leapmotor in India.
Stellantis has announced entry of the ‘Leapmotor’ EV brand in India. In an official statement, Stellantis stated: “The entry of Leapmotor in the Indian market aligns with Stellantis’ ambition to drive innovation and expand its EV footprint in one of the world’s fastest-growing automotive landscapes.” Stellantis hasn’t announced a product portfolio for Leapmotor, but experts say the latter will debut in India with the T03 electric hatchback.
Stellantis already has Jeep and Citroën brands in its India portfolio.
4. River EV achieves two major milestones.
Bengaluru-based electric scooter manufacturer River has surpassed Rs 100 crore in revenue and achieved 1000-unit sales in a single month. The company’s maiden product, the Indie electric scooter, was launched two years ago. River calls the Indie the ‘SUV of scooters’ due to its bulky body which comes with a massive 43-litre boot space. Add another 12-litres courtesy a glovebox, and it results in a 55-litre storage space, something that none of its competitors have. The River Indie is priced at Rs 1.44 lakh (ex-showroom, Bengaluru).
Backed by Yamaha & Toyota Ventures, River currently has 20 outlets in Bengaluru, Hyderabad, Chennai, Hubli, Vizag, Kochi, Coimbatore, Vellore, Tirupati, Mysore, among others. The company has plans to expand to Trivandrum, Vijayawada & Pune very soon. As demand increases, River aims to have presence in 100 cities by 2026 through company-owned outlets and dealerships.
5. Ather Energy gears up for much-awaited IPO.
Ather Energy is set to launch its highly anticipated Initial Public Offering (IPO). The Rs 2981 crore IPO will open for subscription on April 28 and close on April 30. The price band has been fixed at Rs 304 to Rs 321 per share.
Ather raised Rs 1340 crore from anchor investors a few days ago. Some key anchor investors who were allocated shares include Franklin Templeton, Abu Dhabi Investment Authority, SBI, Invesco, Morgan Stanley among others.
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