electric vehicles

October 28, 2024 4:37 PM

Demand for premium vehicles surges in India ahead of festive season: survey

The demand for premium vehicles in India is on the rise as the festive season approaches, according to a survey by Grant Thornton Bharat. The report attributes this shift in consumer preferences to increased disposable incomes and a favorable economic outlook. Titled Shifting Gears: Understanding Passenger Vehicle Market Trends, the survey shows that over 85% of respondents expressed interest in purchasing premium vehicles, signaling a major shift in the country's automotive market. The findin...

September 15, 2024 8:03 PM

New players emerge as India’s EV two-wheeler market expands

India's electric vehicle (EV) two-wheeler market is witnessing a surge in competition as the government rolls out incentives for the production and purchase of EVs. A wave of new entrants is now challenging established players to secure a share of this fast-growing segment. One such newcomer is Warivo Motors, based in Gurgaon, Haryana. Warivo Motors, which aims to compete with major brands like Ola, TVS, and Ather, has established a production facility in Haryana's Sirsa district. Rajiv Goel, D...

September 14, 2024 1:37 PM

US locks in steep China tariff hikes, some industries warn of disruptions

The Biden administration on Friday locked in steep tariff hikes on Chinese imports, including a 100% duty on electric vehicles, to boost protections for strategic industries from China's state-driven industrial practices. The U.S. Trade Representative's office said that many of the tariffs, including a 100% duty on Chinese EVs, 50% on solar cells and 25% on steel, aluminum, EV batteries and key minerals, would take effect on Sept. 27. The USTR determination, published on Friday and first repor...

September 12, 2024 3:13 PM

IEA cuts 2024 oil demand growth forecast on China slowdown

The International Energy Agency (IEA) has cut its 2024 oil demand growth forecast by 70,000 barrels per day (bpd), or about 7.2%, to 900,000 bpd, it said in its monthly oil market report on Thursday, The Paris-based agency cited a slowdown in Chinese demand as the main driver of weaker global demand growth. It now expects Chinese demand to grow by only 180,000 bpd in 2024 as a broader macroeconomic slowdown coincides with a higher uptake of electric vehicles. "With the steam seemingly running ...

July 4, 2024 3:40 PM

EU imposes duties on China-built EVs, leaving four months for talks

The European Union will impose tariffs of up to 37.6% from Friday on imports of electric vehicles made in China, EU officials said on Thursday, ratcheting up trade tension with Beijing. There is however a four-month window during which the tariffs are only provisional and intensive talks are expected to continue between the two sides. The European Commission's provisional duties of between 17.4% and 37.6% without backdating are designed to prevent what its president Ursula von der Leyen has sa...