Ola Electric's S1 Pro Receives Second Product Certification Under PLI Scheme

Key Highlights

• Ola Electric has been certified with DVA certificate under PLI-Auto Scheme
• The certification is being given to Ola S1 Pro 
• it marks the second electric scooter from Ola’s lineup to garner approval under the PLI scheme after Ola S1 Air

Ola Electric, a prominent player in the electric vehicle (EV) manufacturing sector, has achieved yet another milestone by securing certification for its second product under the Production-Linked Incentive (PLI) scheme for the automobile and auto component industry. 

Certification Achievement

The certification, awarded to Ola Electric's S1 Pro (Gen-2), signifies a significant accomplishment for the company, as it marks the second electric scooter from Ola’s lineup to garner approval under the PLI scheme. Earlier in January, Ola Electric received the Domestic Value Addition (DVA) certification for its S1 Air scooter, making it the pioneer two-wheeler EV manufacturer to qualify under the Ministry of Heavy Industries' scheme.

Overview of PLI Scheme for Automobile and Auto Components

The Production Linked Incentive (PLI) Scheme for Automobile and Auto Components, approved by the Union Cabinet on 15th September 2021, with a budgetary outlay of Rs 25,938 crore for a period of five years (FY2022-23 to FY2026-27), aims to bolster the manufacturing of Advanced Automotive Technology (AAT) Products.

This scheme is instrumental in promoting deep localization for AAT products and facilitating the creation of domestic as well as global supply chains. Focused primarily on Zero Emission Vehicles (ZEVs) such as Battery Electric Vehicles and Hydrogen Fuel Cell Vehicles, the scheme offers incentives from FY 2022-23 to FY 2026-27, with disbursement applicable in the subsequent financial year, i.e., from FY 2023-24 to FY 2027-28

Benefits Under PLI Scheme

Under the PLI scheme, Ola Electric stands to reap substantial benefits, including incentives for up to five consecutive financial years, commencing from fiscal year 2023-24. These incentives are anticipated to range between 13 percent and 18 percent of the determined sales value (DSV) of the products.

What is a DVA certificate?

A domestic value addition (DVA) certificate is a certification given by the Automotive Research Association of India (ARAI). The certificate is given to companies that have met the local value-add criteria of 50%.

The DVA certificate is a key condition for companies to qualify for subsidies under the production-linked incentive (PLI) scheme. The intention is to promote local manufacture of new technology products such as electric vehicles (EV) rather than subsidizing imports.

The DVA certificate is granted after testing of the product and checks on the localisation standards of the components.

Application Process and Timeline

Ola Electric initiated the application process for PLI certification for the S1 Pro in the latter half of October at ICAT, Manesar. Subsequently, on February 9, 2024, the company received the coveted certification, positioning both the S1 Pro and S1 Air as eligible candidates for subsidies under the government’s Auto PLI scheme for a period of five years from the date of certification.

Response and Pending Clarifications

Despite efforts to obtain clarification, responses to emailed queries directed to spokespeople at the Ministry of Heavy Industries and Ola Electric were still pending at the time of publishing.

Financial Strategy and DRHP Submission

In December, Ola Electric submitted its Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI), outlining its ambitious plans to raise Rs 7,250 crore through a fresh issue of shares and an offer-for-sale (OFS) of shares. A portion of the funds, specifically Rs 1,226 crore, is earmarked for capital expenditure, with an additional Rs 800 crore allocated for debt repayment.

Company Background and Expansion Plans

Founded in 2015 by Bhavish Aggarwal, Ola Electric has made significant strides in the EV industry, including the establishment of a factory in Krishnagiri, Tamil Nadu. Moreover, the company is poised to further expand its EV business by establishing India's inaugural lithium-ion cell manufacturing facility, also located in Tamil Nadu.

Financial Performance

Despite market challenges, Ola Electric has exhibited robust financial performance, with consolidated revenue soaring to Rs 2,782 crore in FY23, reflecting an impressive surge of nearly 510 percent compared to the preceding year. However, the company also reported a widened net loss of Rs 1,472 crore, doubling from the Rs 784 crore loss recorded in FY22.

CarBike360 Says

Ola Electric's attainment of certification for its S1 Pro (Gen-2) under the Production-Linked Incentive (PLI) scheme marks a significant achievement, further solidifying its position in the electric vehicle (EV) manufacturing sector. Despite pending clarifications, the company's successful application process and timeline showcase its commitment to leveraging government schemes for growth. With the potential benefits offered by the PLI scheme and its strategic financial plans, Ola Electric is poised for continued expansion and innovation in the EV industry, building upon its robust financial performance and ambitious growth plans.
 

Also Read: Upcoming Two-Wheeler Launches in February 2024 in India

Yamaha has introduced its groundbreaking Y-AMT semi-automatic gearbox technology on the 2024 MT-09 street naked motorcycle. This innovative system, weighing just 2.8 kg, is set to revolutionize the riding experience in the performance motorcycle segment. The Y-AMT technology, optimized for sporty riding, will debut on the 2024 MT-09 model equipped with the powerful 890cc CP3 three-cylinder engine, producing 120 PS.

The Y-AMT system allows riders to switch between automatic and manual shifting modes via a dedicated toggle on the switchgear. In manual mode, riders can use "+" and "-" paddles on the left handlebar to change gears, similar to paddle shifters in cars. The absence of a traditional clutch lever and foot-operated gear selector simplifies the riding experience.

Key features of the Y-AMT system include:

• Integration with ride-by-wire throttle for optimized performance
• Compatibility with cruise control and various riding modes
• D and D+ modes for relaxed and performance-oriented riding, respectively

This development puts Yamaha in direct competition with other manufacturers exploring semi-automatic transmissions, such as BMW and KTM. However, Yamaha's focus on performance-oriented motorcycles sets it apart from competitors primarily targeting adventure and touring segments.

While Yamaha has showcased several multi-cylinder motorcycles to Indian dealers, including the YZF-R3, YZF-R7, MT-03, MT-07, and MT-09, only the R3 and MT-03 have been launched in India so far. The introduction of the MT-09 Y-AMT in the Indian market remains uncertain at this time.

The Y-AMT technology represents a significant advancement in motorcycle engineering, potentially influencing future developments in the industry. As manufacturers continue to explore innovative transmission solutions, riders can expect more options that blend performance with ease of use in the coming years.

The Bajaj Freedom 125 CNG bike has made a remarkable entry into the market, attracting significant interest from two-wheeler buyers across India. Launched by Bajaj Auto, one of India’s leading two-wheeler manufacturers, the Freedom 125 CNG is the world’s first motorcycle to feature a CNG powertrain. The bike, which aims to offer lower running costs for its owners, was introduced on July 5 with a starting price of ₹95,000.

High Demand from the Start

Even before its official launch, the Bajaj Freedom 125 CNG had generated considerable buzz. According to Bajaj Auto, more than 30,000 people expressed interest in the bike when it first hit the market. The company has now reported that it received around 6,000 bookings within just one week of opening reservations on July 18. Customers can book the bike by paying a token amount of ₹1,000.

Variants and Prices

The Bajaj Freedom 125 CNG is available in three variants:

• Drum Variant: Priced at ₹95,000 (ex-showroom)

• Drum LED Variant: Priced at ₹1.05 lakh (ex-showroom)

• Disc LED Variant: Priced at ₹1.10 lakh (ex-showroom)

The entry-level Drum variant features drum brakes on both the front and rear wheels, a halogen headlight, and a sheet metal belly pan. It does not include smartphone connectivity features. The mid-level Drum LED variant comes with an LED headlight, drum brakes on both wheels, and an LCD instrument cluster, but still lacks smartphone connectivity. The top-end Disc LED variant includes all the premium features such as a 240mm disc brake at the front, a 130mm drum brake at the rear, an LED headlight, a full LCD instrument cluster, and smartphone connectivity.

Engine and Mileage

The Bajaj Freedom 125 CNG is powered by a 125 cc engine that produces 9.4 bhp of power and 9.7 Nm of peak torque. It features a 2-litre petrol tank and a 16 kg CNG cylinder under the seat, capable of holding up to 2 kg of natural gas. Bajaj claims the bike offers up to 102 km/kg mileage on CNG and 64 km/l on petrol. The total range on CNG is up to 200 km, and when combined with petrol, the bike can travel up to 330 km. According to Bajaj, the Freedom CNG bike can save customers up to ₹1,800 in fuel costs.

Safety Measures

Concerns about the safety of the CNG cylinder, especially in the event of an accident, have been addressed by Bajaj Auto. The company has released several videos demonstrating the bike's crash test results. These tests included a frontal collision with a 1.5-tonne vehicle at 60 km/h and being crushed under the wheels of a 10-tonne truck. In both scenarios, the CNG cylinder remained intact with no leakage. However, independent safety tests are expected to provide a more comprehensive safety rating for the bike.

The Bajaj Freedom 125 CNG bike has certainly made a significant impact in the market with its innovative approach and impressive initial response. As the world's first CNG motorcycle, it promises to be a game-changer in the two-wheeler segment, offering an economical and environmentally friendly option for riders.

Highlights

• Ola’s first electric bike teased

• More details likely revealed next month on August 15th

• The battery pack, electric motor, front sprocket, final drive chain, and more are visible

Bhavish Aggarwal, the CEO of Ola Electric, has teased a new electric bike on social media. This teaser image gives us a glimpse of Ola’s first electric motorcycle, which might be unveiled on August 15th, a significant date for the company.

What the Teaser Image Reveals

The image posted by Aggarwal shows some key components of the upcoming electric bike. Here's what we can see:

1. Steel Tubular Frame: The bike has a strong, tubular frame made of steel.

2. Compact Battery Pack: The battery pack is compact and fits snugly within the frame.

3. Electric Motor Placement: The motor is located below the battery pack.

4. Final Drive and Front Sprocket: The bike uses a chain drive with a visible front sprocket.

5. Control Modules: Several control modules are mounted in different locations, indicating a well-thought-out design.

6. Seat and Footpegs: A part of the seat is visible, along with forward-set footpegs, suggesting this is indeed a motorcycle. The seat height appears to be accessible for most riders.

Past and Future Announcements

Last year, on the same date, Ola Electric showcased four futuristic concept models of electric motorcycles. This year, we might see more developments and possibly more details about this new e-motorcycle.

Current Product Line and Future Expectations

Currently, Ola Electric's product lineup includes e-scooters. The addition of an e-motorcycle could take some time, perhaps a year or two, before a production model is ready. However, the company seems committed to expanding its electric vehicle offerings.

Stay tuned for more updates from Ola Electric, especially around August 15th, when we might get more information about their exciting new electric motorcycle.

Hero MotoCorp has launched the updated 2024 Xtreme 160R 4V, priced at ₹1.38 lakh (ex-showroom). The new Xtreme 160R 4V includes significant upgrades such as dual-channel ABS, a redesigned pillion seat, new paint schemes, and enhanced safety features. The 160cc segment has always been lucrative, and the 2024 Xtreme 160R 4V aims to strike a balance between style and substance for buyers.

In June 2023, Hero MotoCorp introduced the Xtreme 160R with features like USD telescopic front forks, a 4V head, and an oil-cooling setup. Despite these improvements, enthusiasts called for dual-channel ABS, which has now been included in the 2024 Xtreme 160R 4V. The new Xtreme 160R 4V also features a refreshed design, with a new Kevlar Brown color option, in addition to the existing Neon Shooting Star and Stealth Black.

The most noticeable design update is the new black and bronze colorway with striking decals. The split seat design has been replaced with a single-piece seat for enhanced comfort. Additionally, there is a new LED tail light that looks more modern and premium. The 2024 model of the Xtreme 160R 4V also introduces a first-in-segment panic brake alert system that enhances safety by flashing the rear lights during emergency braking.

New Features of the 2024 Hero Xtreme 160R 4V:

Dual-channel ABS: Increases safety and completes the bike's feature set.
Panic Brake Alert: First-in-segment feature that flashes rear lights under emergency braking.
Drag Race Timer: New feature for recording 0-60 km/h sprints.
  
The powertrain remains the same, with a 163.2cc single-cylinder oil-cooled SOHC 4V engine delivering 16.6 bhp and 14.6 Nm of torque, paired with a 5-speed gearbox. The primary competitors for the 2024 Hero Xtreme 160R 4V include the TVS Apache RTR 160 4V and Honda Hornet 2.0.

Ather Energy has made a significant entry into the family scooter market with the launch of the Rizta in India. This new electric scooter is available with two battery pack options: 2.9 kWh and 3.7 kWh. While the deliveries of the 2.9 kWh variant have already begun, there was a delay with the 3.7 kWh version. However, Ather has announced that deliveries of the Rizta 3.7 kWh will start by the end of July.

Impressive Range and Charging

The 3.7 kWh battery pack offers a claimed range of up to 159 km. However, in real-world conditions, the range is expected to be around 125 km on a single charge. The scooter comes with Ather's Duo 700W charger, which charges the battery from 0 to 80 percent in 4 hours, and from 0 to 100 percent in 6 hours and 10 minutes. Using the Ather Grid, you can recharge 15 km of range in just 10 minutes. The battery pack is also IP67 dust and water-resistant, ensuring durability in various conditions.

Powerful Motor and Performance

The Rizta is powered by the same electric motor found in the 450X model. This motor delivers a peak power of 4.3 kW and a peak torque output of 22 Nm. It can accelerate from 0 to 40 kmph in just 4.7 seconds. The electric motor is IP66 resistant, providing additional protection against dust and water.

Advanced Features

The 3.7 kWh version of the Rizta comes with several advanced features. One of the highlights is the Magic Twist feature, which allows the rider to increase brake regeneration by twisting the throttle in the opposite direction. Additionally, the scooter includes Skid Control, which functions as a traction control system to enhance safety.

The Rizta S base model is equipped with the DeepView LCD instrument console from the 450S, which includes turn-by-turn navigation. In contrast, the Z variants feature a TFT screen with Google Maps navigation. It's worth noting that the S trim comes with a standard seat and does not include a pillion backrest, while the Z trim offers a standard pillion backrest and a premium seat.

With these features and options, Ather Energy aims to cater to a wide range of customers looking for a reliable and advanced electric scooter. Many eagerly anticipate the upcoming deliveries of the 3.7 kWh version.

Maruti Suzuki has unveiled its latest offering in the hatchback segment, the Ignis Radiance Edition, with prices starting at Rs 5.49 lakh. The Ignis Radiance edition comes as part of the company's strategy to revitalize sales in the mass market segment, which has experienced a slowdown recently.

The Ignis Radiance Edition brings cosmetic enhancements to the popular hatchback, with variations based on the trim level:

• Entry-level Sigma trim: Priced Rs 35,000 lower than the standard model, it includes wheel covers for 15-inch steel wheels, door visors, and chrome accents.
• Higher-spec Zeta and top-spec Alpha trims: Also priced Rs 35,000 lower, these variants feature new seat covers, black cushions, door cladding, and door visors.

Notably, the mid-spec Delta variant is not available in the Radiance Edition line-up.

The Ignis Radiance Edition retains the same mechanical specifications as the standard model. It is powered by an 83hp, 1.2-litre petrol engine, offering both manual and AMT gearbox options to cater to diverse driver preferences.

In the competitive hatchback market, the Ignis Radiance Edition faces off against rivals such as the Hyundai Grand i10 Nios and Citroen C3. It also competes with other Maruti Suzuki models like the Wagon R, Swift, and Baleno.

With its attractive pricing and added features, the Ignis Radiance Edition aims to appeal to budget-conscious buyers looking for a refreshed look in the small car segment. The introduction of this special edition model demonstrates Maruti Suzuki's efforts to maintain its strong position in the Indian automotive market.