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Driving India’s Green Future: SIAM’s ‘Green Plate EV Rally’ Paves the Way for Sustainable Mobility

Mumbai, 18 September 2023: In a resounding and unanimous endorsement of sustainable mobility, the Society of Indian Automobile Manufacturers (SIAM), the apex body representing India’s prominent automobile manufacturers, hosted the ‘Green Plate EV Rally’ at Pragati Maidan, New Delhi. In partnership with the Ministry of Heavy Industries, Government of India, this event marks a significant stride in promoting eco-friendly transportation and underscores SIAM’s unwavering commitment to driving the widespread adoption of electric vehicles across the nation.

In the presence of the esteemed Chief Guest, Dr. Mahendra Nath Pandey, Hon’ble Union Minister of Heavy Industries, Government of India, the “Green Plate EV Rally” was ceremoniously flagged off.  The rally showcased an impressive fleet of over 100 electric vehicles, including 2-wheelers, 3-wheelers, cars, and buses. Its central aim was to raise awareness and enhance customer confidence in electric vehicles and to exhibit the capabilities of the Indian automotive industry, which has developed and launched multiple electric vehicles to meet the needs of Indian consumers over the past couple of years.

Mr. Kamran Rizvi, Secretary, Ministry of Heavy Industries, Government of India; Dr. Hanif Qureshi, Joint Secretary, Ministry of Heavy Industries, Government of India; Mr. Vinod Aggarwal, President of SIAM and Managing Director & CEO of Volvo Eicher Commercial Vehicles Ltd; Mr. Sushant Naik, Chairman, SIAM Electric Mobility Group and Global Head – Government and Public Affairs, Tata Motors Limited; Ms. Suman Mishra, Co-Chairman, SIAM Electric Mobility Group and MD & CEO, Mahindra Last Mile Mobility; Mr. Vipin Surana, Co – Chairman, SIAM Electric Mobility Group and Vice President, Volvo Eicher Commercial Vehicles Limited, and Mr. Rajesh Menon, Director General, Society of Indian Automobile Manufacturers (SIAM) were present during the ceremony.

SIAM also felicitated Ms. Priyanka Pilaniya, Vice-Captain of the Indian Women’s Kabaddi Team for winning gold medal at the 19th Asian Games 2023 held in Hangzhou, China at the event.

In his address, Dr. Mahendra Nath Pandey, Hon’ble Union Minister of Heavy Industries, Government of India, said, “The Indian Government has provided constant support for the growth of EVs in the country. We can proudly say that 9.4 lakh EVs are now on Indian roads. The outcomes of the PLI scheme in battery development and supporting domestic manufacturing are reducing our dependence on others, and making us self-reliant. In the coming period, India will become a major battery manufacturing hub. We have also found lithium deposits in Jammu and Kashmir, and the government is making efforts to make India competitive in every field without delay. EVs have grown from 0.13% in 2019-20 to 4.3% now, and SIAM has made significant contributions in leading this change. I extend my congratulations to the team. We must work together to achieve our sustainability objectives and promote the green mobility movement.”

In his address, Mr. Kamran Rizvi, Secretary, Ministry of Heavy Industries, Government of India, said, “There is a saying that change is the only constant. Positive changes have made our lives more convenient, and electric vehicles are one of them. Issues like safety, cost, and others have acted as barriers, but over time, these issues have been addressed, and EVs are now widely accepted. The Indian automobile industry has supported and facilitated this

positive change. EV manufacturing is a technical endeavor, and the ministry has supported the industry with FAME and PLI schemes. We expect 12 lakh scooters to be sold this year, which means the public is actively adopting EVs, and we have a long road ahead. By 2030, we anticipate having 60-70% of electric two-wheelers and, in a few years, 70-75% of electric three-wheelers. For cars, we aim to sell one lakh cars and double that number. SIAM leadership has worked closely with the government, and as a result, we have been able to initiate many successful endeavors for sustainable mobility.”

On this occasion, Mr. Vinod Aggarwal, President of SIAM and Managing Director & CEO of Volvo Eicher Commercial Vehicles Ltd., said, “Over the last couple of years, the Indian automobile industry has made significant progress towards sustainability to meet the decarbonization targets set by the Indian government. The country has made rapid strides, supported by proactive actions. India’s transition to e-mobility is well underway, and as the economy continues to grow, electric vehicle adoption will also increase. Strong support is needed in terms of policy and infrastructure. Under our  विद्युतीकरण (Electrification) initiative, SIAM remains dedicated to address industry’s issues in close collaboration with all stakeholders across the value chain.”

Dr. Hanif Qureshi, Joint Secretary, Ministry of Heavy Industries, Government of India, said, “The rally is a great initiative to spread awareness on EVs which is key to meet electrification goals. I extend my thanks to SIAM for taking up such initiatives. The Government has supported electric vehicles adoption and the industry has to play its part and make efforts along with the government. At present, Europe, the US, and China have more EV sales, and India has to come on par with them.”

The participating companies of the rally were felicitated during the event which also marked the presence of a host of senior experts and dignitaries from the automobile industry.

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by Team SNFYI

Are you considering investing in an electric vehicle? If so, you have made the right decision. Electric cars are gaining popularity due to their numerous benefits. However, before you buy an electric car, you must consider the factors discussed in the following sections. They will help you make an informed decision. 6 Points You Must Consider While Buying Electric Cars  Let’s take a look at the important points you must consider before buying electric cars in India:  Ideally, an electric car has a driving range of over 100 km, which is sufficient for daily driving. However, high-end electric vehicles offer a driving range of over 400 km.   Considering the maximum distance the vehicle can travel on a single charge will help you determine whether the car meets your requirements. To make your purchase stress-free, research the prices of the cars and know your budget. Consider applying for an electric vehicle loan to help you fulfil your dream of owning a car without denting your savings. Use a car loan EMI calculator to calculate your monthly instalment and formulate a financial plan, considering other liabilities.  The formula for calculating electric car loan EMI is as follows: EMI = [P x R x (1+R)^N]/[(1+R)^N-1] Here,  P = Principal sum of the car loan  R = Rate of interest charged by the lender  N = Tenure of the loan in months  As you can see, the calculation procedure is time-consuming and prone to errors. So, you can use an online car loan EMI calculator to get accurate results quickly.  The battery is the most important component of an electric car, and it’s quite expensive. Therefore, it is essential to check the battery life before purchasing an electric vehicle. Find out details about the battery range and other specifications.  Moreover, check how long the battery can last and how much it will take to replace it.  Remember that you won’t find an electric vehicle charging station as easily as you find a fuel station. This is because the electric vehicle charging infrastructure has yet to establish a strong footing in India. Fast chargers are quite expensive to install in the car, and your city might have very few charging stations for them. On the other hand, standard and slow-charging systems are more reasonably priced. So, before buying an electric car, check which charging system suits your vehicle and meets your budget. Electric vehicles are equipped with software, which must be updated regularly. While some manufacturers provide the software for free, others may charge a fee for it. Moreover, remember to ensure that your electric vehicle has the latest software upgrades/updates.  You must maintain your electric vehicle regularly, just as you would a conventional car. Otherwise, its performance will be affected. Electric cars have few moving parts, requiring less maintenance effort. Also, buying spare parts for an electric car will be more expensive than for conventional cars. So, consider the maintenance costs of an electric vehicle before investing in one.  Additional Important Things to Keep …

by Team SNFYI

Bharatsure, one of India’s leading Insurtech companies offering Infrastructure as a Service (IaaS) solutions has raised INR 6 Crores from Inflection Point Ventures (IPV) and other investors including Capital A and Atrium Angels. Bharatsure is pioneering transformation in India’s insurtech landscape, unlocking vast market potential while advancing health security and insurance penetration. As an Infra-as-a-Service (IaaS) Insurtech, Bharatsure empowers ecosystem partners with seamless group and embedded insurance distribution solutions. Bharatsure has doubled its revenues in FY25 breaking even at CM3 and is gradually progressing toward EBITDA profitability by the end of this year. With a clear growth trajectory, Bharatsure has set ambitious revenue milestones, targeting INR 100 Cr by FY28 and INR 1000 Cr by FY34, reflecting its bold vision and long-term scalability in the market. Anuj Parekh and Sanil Basutkar are the co-founders of Bharatsure. Anuj, a CA and IIM-Bangalore alumnus, brings deep expertise in finance and scaling ventures, while Sanil, a CA and an ISB alumnus, employs his fintech background to drive product innovation and distribution. Coinciding with the fundraise, Bharatsure announced a new partnership with Battery Smart, India’s largest battery-swapping network for electric two- and three-wheelers, to launch natural calamity insurance exclusively for its station partners. The initiative offers protection against events such as fires, floods, earthquakes, and storms alongside personal accident coverages to safeguard individual livelihoods.  Mitesh Shah, Co-founder, IPV says, “As India moves towards a greener and sustainable future with the widespread adoption of EVs, and the infrastructure that supports it, it is time that we adapt our insurance frameworks to suit the changing needs. Bharatsure’s futuristic mindset and farsight offers financial protection and peace of mind in the face of unexpected events. In a world that doesn’t always go according to plan, insurance doesn’t just offer protection, it also carries the burden of social responsibility.” Anuj Parekh, Co-Founder & CEO of Bharatsure, added: “These station partners play a frontline role in advancing sustainable mobility, and we’re proud to design coverage that genuinely addresses their needs. The funding allows us to further develop our infrastructure too ”  With over 1,500 stations and 70,000+ drivers across 50+ cities, Battery Smart’s station partners form the backbone of India’s growing EV infrastructure. This insurance plan ensures partners are equipped with financial protection to overcome unforeseen disruptions while continuing to power the country’s EV transition.  “Our station partners are at the heart of our operations,” said Ms. Sumi Jain, AVP – Network Strategy and Operations, Battery Smart. “This insurance partnership is not just about protecting assets, it’s about empowering the individuals who are driving India’s EV revolution. Together with Bharatsure, we are fortifying the backbone of our network.”  As EV adoption picks up pace in India particularly across two- and three-wheelers, battery swapping stations are emerging as a critical part of the ecosystem. To strengthen safety for its partners, this insurance initiative complements Battery Smart’s existing safety framework, which includes a 24×7 support helpline, in-app issue reporting, mandatory onboarding training and ongoing awareness campaigns.   About Battery Smart:  Battery Smart …

EV
by Team SNFYI

Shanghai, June 2025 – In a move set to shake up the electric vehicle (EV) landscape, Tesla has officially introduced a 6-seater version of its popular Model Y SUV for the Chinese market. This marks the first time the automaker has offered this specific seating configuration in China, indicating a strong focus on capturing the growing demand for more family-friendly electric vehicles in the world’s largest EV market. The new Tesla Model Y 6 seater is expected to launch in Q3 2025 and will be manufactured at Tesla’s Gigafactory in Shanghai, which already produces Model 3 and Model Y units for the Asia-Pacific region. Family-Focused Configuration The Tesla Model Y 6 seater introduces a more versatile interior layout, offering two captain’s chairs in the second row instead of the traditional bench seat. This setup not only enhances passenger comfort but also provides easier access to the third row, making it ideal for families with children or those who frequently transport multiple passengers. Tesla’s design update is in line with customer feedback from China, where extended family travel is common, and functionality often outweighs minimalism in vehicle interiors. According to local sources, the 6-seater Model Y will also include upgraded air filtration systems and enhanced rear climate controls, catering to the preferences of premium Chinese buyers. Market Strategy in China China represents Tesla’s second-largest market after the United States, and this launch signals the company’s strategic intent to remain competitive against domestic giants like BYD and Li Auto, both of which offer flexible seating layouts in their best-selling SUVs. The addition of the Tesla Model Y 6 seater is expected to boost the brand’s presence among middle- to upper-income families who previously might have considered more spacious alternatives. Tesla is also planning a strong marketing push around the family-first messaging, emphasizing safety, comfort, and advanced self-driving features. Competitive Pricing and Delivery Timeline While official pricing has not been confirmed, early reports suggest the 6-seater Tesla Model Y will be priced slightly above the Long Range variant but remain competitive in its segment. Industry analysts expect the starting price to be around ¥350,000 (approx. $48,000), positioning it below traditional luxury competitors like Mercedes-Benz EQB or NIO ES6. Pre-orders for the Tesla Model Y 6 seater are expected to begin by late July, with deliveries starting as early as September 2025. What’s Under the Hood? Mechanically, the 6-seater Model Y will remain consistent with current dual-motor AWD versions. It is expected to feature a similar battery configuration with a range of up to 530 km (approx. 330 miles) per charge under CLTC testing standards. Tesla’s infotainment and software upgrades will also be included, featuring the latest Full Self-Driving (FSD) beta, real-time traffic visualization, and a theater mode for rear passengers—a feature well-suited to longer family drives. Final Thoughts With this latest addition, Tesla is not just responding to consumer demand—it’s setting the tone for how EVs can adapt to regional market needs. The Tesla Model Y 6 seater represents a smart blend of …