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Magnet squeeze halves Bajaj EV output in July; company targets six-month fix

YourStory

YourStory · 21d ago

Magnet squeeze halves Bajaj EV output in July; company targets six-month fix

Bajaj Auto faces a 50% reduction in electric vehicle production due to a shortage of high-rare-earth magnets, stemming from China’s export curbs. The company is implementing three initiatives to address the issue, including sourcing low-rare-earth magnets and collaborating with authorities. Despite expected shipment reductions, Bajaj predicts manageable cost impacts. Full production restoration is targeted by the end of the quarter, with complete supply chain de-risking taking six to nine months. Other automakers, like Maruti Suzuki and Ather Energy, also face production challenges.

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IIP hits 4-month high in July

Economic Times

Economic Times · 15h ago

IIP hits 4-month high in July

India's industrial output reached a four-month peak of 3.5% in July, largely propelled by a robust manufacturing sector, according to official data. The manufacturing sector hit a six-month high, growing by 5.4% year-on-year. However, mining output saw a significant decline, while electricity generation remained low. Despite the overall positive trend, challenges such as limited private investment due to global conditions persist. The outlook suggests potential growth in the coming months, supported by public sector investments.

Two-Wheeler EV Registrations Slip 18% MoM In Aug, Ola Electric Loses Market Share

Inc42 · 12m ago

Two-Wheeler EV Registrations Slip 18% MoM In Aug, Ola Electric Loses Market Share

Two-wheeler electric vehicle (EV) registrations declined by about 18% in August after a significant rise in July. Ola Electric, the leading player in terms of market share, saw its registrations fall to below 30,000 units last month, with a market share of 31%. TVS held a 20% market share, while Bajaj Auto's market share increased to 19%. The growth in EV sales in July was attributed to discounts and the approaching deadline for the Electric Mobility Promotion Scheme (EMPS) 2024 scheme. In August, total EV two-wheeler registrations stood at 88,473 units, a 41% increase from August 2023.

Bajaj, Ather, TVS to cut output amid rare earth magnet shortage on China restrictions

Economic Times

Economic Times · 1m ago

Bajaj, Ather, TVS to cut output amid rare earth magnet shortage on China restrictions

India's leading electric two-wheeler manufacturers, Bajaj Auto, Ather Energy, and TVS Motor Company, are reducing production due to a shortage of heavy rare earth magnets from China. This supply disruption threatens the sector’s rapid growth. The lengthy shortage, entering its fourth month, has led Bajaj Auto to possibly halve output, while Ather Energy plans an 8-10% reduction. In contrast, Ola Electric maintains its production by stockpiling essential magnets and exploring alternative supply channels.

TVS maintains lead in 2W EV sales in July; Ather narrows gap with Ola Electric

Entrackr

Entrackr · 27d ago

TVS maintains lead in 2W EV sales in July; Ather narrows gap with Ola Electric

TVS Motor retained its position as the market leader in the electric two-wheeler (E2W) segment in July, despite a month-on-month decline in overall market volumes. According to Vahan data, TVS registered 22,225 units during the month, securing a 21.6% market share. However, this marked a 12.73% decline from June, when the e-two wheel leader recorded 25,468 unit registrations. Bajaj maintained its second position with a 19.10% market share in July, with sales of 19,650 electric two-wheelers. This reflects a sharp month-on-month decline of 15.16% compared to 23,161 units sold in June. After leading the market in 2023 and 2024, Ola Electric’s dominance continues to wane. Its market share dropped sharply to 17.35% in July 2025 from 38.83% a year ago. The Bhavish Aggarwal-led company recorded 17,848 units during the month, a steep 57.29% year-on-year decline from 41,802 units sold in July 2024. A sharp drop in month-on-month volumes and users' complaints have erased over 45% of Ola Electric’s market cap from Rs 33,521 crore ($3.95 billion) to Rs 18,190.2 crore ($2.14 billion). The stock now trades at around Rs 41.2, down nearly 45% from its listing price of Rs 76. It had touched an all-time high of Rs 157.4 just after listing. Ather Energy retained the fourth position with a market share of 15.78%, registering 16,231 units in July 2025. This reflects a 10.59% month-on-month growth compared to 14,677 units recorded in June. Ather, which became the second EV startup after Ola to be listed on the stock exchange, is currently trading at Rs 353.75, up from Rs 328 at the time of listing. Hero MotoCorp held the fifth position in July with a market share of 10.20%, registering 10,489 units. The company recorded a strong month-on-month growth of 36.27%, indicating growing demand for its electric two-wheelers. Greaves Electric Mobility held the sixth position in July with a 4.08% market share. IPO-bound Pure EV followed in seventh place with a 1.64% share, recording an 18.12% month-on-month growth. River Mobility and Kinetic Green also posted strong month-on-month growth of 20.4% and 59.92%, respectively. Notably, Kinetic Green broke into the top 10 electric two-wheeler makers in July.

BYD slows production, delays capacity expansion at China factories, sources say

Economic Times

Economic Times · 2m ago

BYD slows production, delays capacity expansion at China factories, sources say

BYD, China's leading electric vehicle manufacturer, has reduced production and postponed expansion at several factories due to rising inventory and slower sales growth. The company, which overtook Tesla as the top EV producer, has cut shifts and output by at least a third at some locations. Despite aggressive price cuts, sales fell short of targets, prompting cost-saving measures. These moves highlight challenges in China's competitive auto market, leading BYD to explore overseas opportunities to bolster sales.

Bajaj and TVS surpass Ola Electric to lead December two wheeler EV sales

Entrackr

Entrackr · 8m ago

Bajaj and TVS surpass Ola Electric to lead December two wheeler EV sales

Bajaj and TVS surpass Ola Electric to lead December two wheeler EV sales The electric two-wheeler market in India fell to 73,316 units in December from 1,19,654 units in November. Despite the slowdown, competition stayed strong as manufacturers aimed to lead the expanding EV market. As per Vahan data, Bajaj Auto led the market with 24.93% of total sales and delivered 18,276 units. Bajaj’s dominance can be attributed to the popularity of the Chetak series. TVS Motor followed with 23.48% market share and sold 17,212 units in December. After a long time, Bajaj and TVS surpassed Ola Electric in monthly sales. Ola Electric held 18.78% of the market in December with 13,769 units sold but saw a noticeable decline from the previous month. In November, the company held a 24.54% market share. Under Bhavish Aggarwal’s leadership, Ola’s market share shifted over the past six months. It rose to 30% in October from 27% in September but remained below earlier levels – 32% in August, 39% in July, and a peak of 49% in June. Despite the dip, Ola Electric retained the highest market share of 35.5% for the entire calendar year 2024. It became the first new-age tech company from India to list on the stock exchange. Currently, its shares trade at Rs 85.94, after peaking at Rs 157 on August 20, 2024. Ather Energy, which recently received the green signal from the market regulator for its initial public offering, held 14.2% of the market and sold 10,421 units. Meanwhile, Hero MotoCorp secured 1.4% of the market with 1,020 units sold. Greaves Electric Mobility, which operates Ampere scooters, held 3.8% of the market in December with 2,795 units sold.

Scheme to Boost Electronic Component Production Draws 70 Applications

StartupTalky

StartupTalky · 3m ago

Scheme to Boost Electronic Component Production Draws 70 Applications

The Indian government's scheme to enhance electronic component production has attracted 70 applications from mainly small and medium-sized enterprises, aiming to generate significant investment and job creation. Approved in March, the production-linked incentive program targets INR 59,350 Cr in investments and anticipates substantial output and employment growth over six years. The initiative benefits sectors like telecommunications, consumer electronics, and automotive. States like Tamil Nadu, Gujarat, and Uttar Pradesh are ramping up efforts to become electronic manufacturing hubs.

Exclusive: BeepKart Fires 130 Employees In 5 Months To Cut Costs, Halves Store Count

Inc42 · 10m ago

Exclusive: BeepKart Fires 130 Employees In 5 Months To Cut Costs, Halves Store Count

1. BeepKart recently conducted three rounds of layoffs, resulting in the termination of approximately 60-70 employees last month. 2. The startup has been actively cutting costs and closed down six stores out of its total of 11 located in Bengaluru and Chennai within the past five months. 3. BeepKart offers a comprehensive platform for users to purchase and sell pre-owned motorcycles online, and counts Vertex Ventures and Stellaris Venture Partners among its backers. 4. The recent layoffs were part of the company's ongoing efforts to control expenses and streamline operations. 5. BeepKart's full-stack model enables a seamless experience for customers looking to buy or sell used two-wheelers. 6. The closure of six stores suggests a strategic shift towards focusing more on online sales rather than maintaining physical storefronts.

TVS Motor’s 2W EV sales hold ground as iQube-maker tops June monthly sales

YourStory

YourStory · 1m ago

TVS Motor’s 2W EV sales hold ground as iQube-maker tops June monthly sales

TVS Motor Company maintained its lead as India’s top two-wheeler EV manufacturer in June, holding about 27% of market share. The iQube maker has seen a continued rise in demand despite competition from Bajaj Auto and Ola Electric. Bajaj Auto secured 24.5% market share, while Ola experienced a 45% year-on-year sales drop. New entrant Ather Energy more than doubled sales, reflecting growing competitiveness in the EV sector amid global supply concerns.

India’s food delivery segment seen growing 10% sequentially in July-September period: UBS

Economic Times

Economic Times · 1y ago

India’s food delivery segment seen growing 10% sequentially in July-September period: UBS

According to a report by UBS Securities, India's food delivery market is expected to have grown by 10% sequentially during the July-September period. This is good news for Zomato and Swiggy, the dominant players in the segment. UBS estimated month-on-month volume growth for Zomato and Swiggy in July and August, with Zomato expected to achieve 10% quarter-on-quarter growth in July-September. The report also highlighted Zomato's market share loss to Swiggy in the past six months due to the suspension of its loyalty program and focus on profitability. However, Zomato has regained market share since the relaunch of its loyalty program.

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