Revolt Intellicorp has received 2,500 pre-bookings for the RV 400 ever since it began pre-bookings on June 25, 2019. The company is also accepting bookings for the RV 400 through Amazon, which began on July 5, 2019.
Hero MotoCorp has announced a reshuffle in its top management as the company aims to explore new trends in the auto industry. The world's largest two-wheeler manufacturer has assigned Vikram Kasbekar as its new Chief Technology Officer (CTO) replacing Markus Braunsperger, while Rajat Bhargava has been given the responsibility to head the newly created 'Emerging Mobility' business unit. Both Vikram and Rajat will continue to report to Dr Pawan Munjal, Chairman, Hero MotoCorp.
Homegrown EV manufacturer Ather Energy has commenced its operations in Chennai, its second market after Bengaluru. The company held its first customer event last weekend in the city, and has also begun accepting pre-bookings for its electric scooters for a token amount of Rs. 5000. The Ather 450 is priced at Rs. 1.31 lakh, while the entry-level Ather 340 is priced at Rs. 1.11 lakh (all prices, on-road Chennai), and will be officially launched tomorrow. The prices are about Rs. 5000-6000 more expensive than Bangalore. It is to be noted that the on-road price is in-line with the current GST rate of 12 per cent on EVs, and is likely to see a reduction once the GST council approves the five per cent rate as recommended under the Union Budget 2019.
The NDA 2.0 government made some major announcements for pushing electric mobility in India as part of the Union Budget 2019. While the Indian auto sector did not witness any dramatic changes in tax norms, Finance Minister Nirmala Sitharaman recommended reducing the GST rate on electric vehicles from the current 12 per cent to five per cent in a bid to push the sale of EVs in the country. In addition, there will be an income tax deduction of Rs. 1.5 lakh on the interest paid on the loans taken to purchase electric vehicles. The push for EV purchase is expected to boost sales for the alternate fuelled vehicles, which has been a major agenda for the government since the previous term.
New pictures of Curtiss Motorcycles' Zeus electric motorcycle has been released, and the pictures show uniquely placed battery packs, like a conventional V8 engine would have.
The electric vehicle segment in the Indian auto sector has welcomed the announcements to give tax incentives on loans for EVs, as well as GST reduction on electric vehicles.
