Category: Auto

First BMW i5 M60 electric sedan launched in India — check price, colour options, features

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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BMW India, on Thursday, April 25, launched the i5 electric sedan as the i5 M60 xDrive, marking the debut of the electric 5 Series in India with a BMW M Performance model. Priced at ₹1.20 crore (ex-showroom), the i5 M60 xDrive is a single-trim offering, imported to India as a full-import CBU.

A single-trim offering means that the car is available in one configuration, without any variations or options in terms of features, equipment, or specifications.

Buyers can choose from various colours, including metallic options such as M Brooklyn Grey, M Carbon Black, Cape York Green, Phytonic Blue, Black Sapphire, Sophiosto Grey, Oxide Grey, and Mineral White; as well as a non-metallic option, Alpine White.

Vikram Pawah, President of BMW Group India, commented on the launch, stating, “It brings together the legacy of eight generations of the sportiest executive sedan – the ‘5’, adrenaline-laden performance of ‘M,’ and the sustainability of ‘i’.”

While retaining the exterior body of the regular 5 Series, the i5 M60 has a sportier appearance. The kidney grille now features a glossy-black blanked off panel with LED illumination. The headlamps have a sweeping design with crescent-shaped LED lamps and large air intakes. The i5 M60 features 20-inch alloy wheels and thin LED taillamps with a wraparound design in the rear.

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Unlike the upcoming 5 Series, which will be offered in its long-wheelbase version in India, the i5 is presented in its standard wheelbase.

Inside, the i5 boasts the latest BMW interiors, including a 12.3-inch instrument cluster and a 14.9-inch infotainment display. The layout, inspired by the 7 Series/i7, has a minimalist design. The cabin includes several M-specific elements like carbon fibre trim, M-specific displays, an M-steering wheel, sports seats, and a dark roof lining. Features include a 4-zone climate control, 360-degree camera, panoramic sunroof, ventilated seats, and electrically adjustable seats.

The BMW i5 M60 comes with an 83.9 kWh battery pack, providing a WLTP claimed range of 516 km on a single charge. WLTP stands for Worldwide Harmonised Light Vehicles Test Procedure, an internationally recognised standard for measuring the fuel consumption and emissions of vehicles, including electric vehicles.

It’s powered by two electric motors producing a total of 601 bhp and 795 Nm of torque. BMW claims the i5 M60 can accelerate from 0 to 100 kmph in 3.8 seconds, with a top speed of 230 kmph.

The car comes with an 11 kW AC charger, and customers can opt for a 22 kW AC charger at an additional cost. With 205 kW DC charging, the battery can be charged from 10 to 80% in under 30 minutes.

The BMW i5 M60 xDrive does not have direct competition in the Indian electric sedan market. Recently, the BMW 5 Series/i5 was awarded the 2024 World Luxury Car by the World Car Awards.

Also Read: Tata Motors partners with HARMAN Ignite Store to power its integrated in-vehicle app store for its EVs

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

China displays EV future, local brands at Beijing International Automotive Exhibition

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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China’s largest auto show opened in Beijing on Thursday with the biggest names showing off their latest electric vehicles (EVs), underlining how the world’s largest auto market is already in an all-electric state of mind, and isn’t looking back.

Automakers are set to unveil 117 new models versus 93 at last year’s show in Shanghai, while overall 278 new energy vehicles (NEVs) will go on display, seven more than last year, organisers said.

The show, which runs through early next month, comes as NEV sales hit a milestone in early April, accounting for over 50% of cars sold in China, auto association data showed.

Sales have been getting a boost from a year-long price war that has sapped profit margins, as automakers strive to keep up by announcing newer, cheaper models and promotions.

“At the Beijing auto show, there’s no doubt there is no interest in gasoline vehicles anymore. Everyone is looking for the latest technologies in intelligence and electrification,” William Li, founder and CEO of Chinese EV maker Nio told Reuters.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Tata Motors partners with HARMAN Ignite Store to power its integrated in-vehicle app store for its EVs

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Tata Motors has partnered with the HARMAN Ignite Store as its in-vehicle app store, which will get easily accessible. reliable and mobility expereinces to more customers across a new geographical region, the latter said in a statement.

HARMAN is a wholly-owned subsidiary of Samsung Electornics.

With this new partnership, the HARMAN Ignite Store will power the automaker’s Arcade.ev, its recently launched built-in app suite availabile in the Nexon EV and Punch EV. The list of appes will be continuously extended. THe initial content partners include Gaana, Jio Saavn, Jio Pages, TuneIn Radio, DASH Radio, Beach Buggy, Trebble FM, video apps, and more, the company said.

Jens Beckmann, Senior Director of HARMAN Ignite Store at HARMAN International, said the company was delighted to collaborate with Tata Motors and bring India its first integrated in=vehicle app store.

Meanwhile, Anand Kulkani, Chief Product Officer for EV at Tata Motors, said the company’s relationship with HARMAN allows it to keep consumers connected to the contant that is most important to them, while also deliverng experineces that enhance their device. “Our cusotmers want to bring their digital lives with them on the road, with HARMAN Ignite Store our new Nexon EV and Punch EV deliver that for them seamlessly,” he said.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Elon Musk is not the only one pouring more money on electric cars

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Vingroup, which has already invested $11.4 billion into Vinfast in the six years ending 2023, seems to doubling down on his bet on EVs, just like his American peer Elon Musk, the chief executive officer of $508 billion Tesla and the world’s third richest man.

Now, the richest man in Vietnam with a net worth of over $4 billion, Pham Nhat Vuong, has said that he would investor another billion dollars of his personal fortune into his electric car making company, Vinfast, according to a Bloomberg report.

Aside from the US and Indonesia, Vinfast has already committed investments in is India and started construction of its plant that would be operational next year.

Musk and Vuong are keeping the faith on the prospects for electric cars

Globally, there’s a fall in people buying electric cars leading to a price war led by Tesla offering deep discounts in major markets.

Companies like General Motors and Ford, which are older international peers for Tesla and Vinfast, have cut back on the production electric cars and, instead, have shifted focus to hybrid cars that seem to have more takers. “This is not the right strategy,” Musk told analysts after the company’s quarterly earnings on April 24 showed the sharpest drop in quarterly revenue since 2012.

Tesla is driving down prices of electric cars — and laid off thousands of employees —  in the face of slowing demand but has revealed plan to increase production capacity to 3 million cars from the current 2.35 million.

Meanwhile, Vinfast, a much smaller company compared to Tesla, plans to increase its production capacity to 550,000 electric cars a year by 2026 from the current 300,000.

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More than half of Vinfast’s added capacity would come India

VinFast is building a factory in Tamil Nadu that would start production in 2025, and will eventually have a capacity of producing 150,000 EVs in a year. The company’s plant in Vietnam has a capacity of 250,000 units.

Aside from this, the company is also reportedly planning a battery manufacturing plant  in Thoothukudi, which is also a city in southern Tamil Nadu.

The company has already committed to invest $500 million in the first five years of the project and has plans to scale up the investment in India to $2 billion.

Tesla too is interested in investing in India. Musk had announced a trip to India earlier in April 2024 where he would meet the country’s Prime Minister Narendra Modi before cancelling the plan due to some scheduling constraints.

CNBC-TV18 has learnt that Tesla’s Chief Sourcing Officer will soon visit India to meet leading component manufacturers. A source requesting anonymity said that Tesla may increase its purchases of auto components from India to $15 billion over the next five years.

Both Vinfast and Tesla have sought relaxations in the Indian government’s policy aimed at boosting electric car production in one of the world’s third-largest market for automobiles.

Musk also wants permission to launch Starlink, a satellite-based internet service provider, in India.

Indian government is keen on increasing the production and sales of electric vehicles in India.

The attempts to shift millions of Indians from the traditional combustion engine cars to to electric vehicles is part of a larger strategy to mitigate the impact of climate change.

The sales of electric vehicles in India increased 50% to 1.5 million units in 2023, and the share of EVs in the overall automobile sales has gone up to 6.3% in 2023 from just 1.7% in 2021.

Vuong is already invested in one of the world’s biggest markets with a large headroom for growth. When will Musk sign the dotted line?

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Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Hyundai Motor Group Executive Chair visits India as carmaker eyes IPO

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Hyundai Motor India plans to unveil its first locally produced electric vehicle (EV) in India next year, the carmaker said in a statement on April 25.

“Starting with the mass production of its first electric SUV model at the Chennai plant at the end of 2024, the company plans to further produce five EV models by 2030. Hyundai Motor India will also utilize its sales network hubs, expanding the number of EV charging stations to 485 by 2030,” the firm said.

Hyundai’s statement came against the backdrop of Hyundai Motor Group’s Executive Chairman, Euisun Chung’s strategic visit to India at a time when the company is looking to firm up IPO plans for the Indian market. The visit is part of Hyundai’s efforts to cement its position as a leading mobility provider in India through mid- to long-term strategies, the firm said.

Sources had earlier told CNBC-TV18 that the company is working towards filing its Draft Red Herring Prospectus (DRHP) papers with the Securities and Exchange Board of India (SEBI) by May and is hoping to go public in the third quarter of FY25.

Hyundai, which entered India 27 years ago, is among the top three car makers in India with a 15% market share. The company’s line-up of sports utility vehicles (SUVs) including Tucson, Creta, Venue and Exter are among the highest-selling SUVs in the Indian market. Hyundai India is looking to raise over $3 billion at a valuation of $30 billion. This could well be the largest-ever IPO in India.

According to the company, Chung is in India to review the Group’s mid- to long-term future mobility strategies that lay the foundation for its leadership in the Indian market and sustainable growth.

Hyundai Motor Group said it has set mid-to long-strategies to proactively respond to the Indian automotive market. Key to this is the laying of groundwork to expand production.

“Hyundai Motor India will start operating its Pune plant in the second half of next year. Located in Maharashtra, western India, the production facility was acquired from GM last year. Hyundai Motor is currently making improvements to the facility to create a production hub capable of building more than 200,000 units annually, using smart manufacturing technology and systems,” it said.

As per the statement, with the addition of the Chennai plant’s production capacity of 824,000 units, Hyundai Motor will have an annual production capacity of over one million units when combined with the Pune plant.

Meanwhile, Kia India’s yearly production capacity will also be expanded to 431,000 units within the first half of this year. Combined together, Hyundai Motor Group will have the ability to produce approximately 1.5 million units annually in India.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Volvo Cars sees robust demand despite Polestar losses, Q1 earnings miss forecasts

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Swedish automaker Volvo Cars said on Wednesday it expects good demand for its vehicles this year after a rise in first-quarter unit sales, though operating earnings missed forecasts due to lower revenues and losses at its Polestar business.

Operating income (EBIT) for the first quarter fell to 4.7 billion Swedish crowns ($434.78 million) from 5.1 billion a year ago on the back of a decline in sales due to a negative foreign exchange rate and lower contract manufacturing sales, it said.

This was below a consensus referenced by JPMorgan, which had expected operating income of 5.93 billion crowns.

However, its adjusted operating income, which excludes joint ventures, associates and one-offs, rose 8% to 6.8 billion Swedish crowns ($629.27 million).

“Overall, a good start to the year where Volvo reported double-digit sales growth and continued to ramp up production of the EX30,” JPMorgan said, referring to unit sales.

“We expect demand for our cars to remain robust in coming quarters in line with our guidance of full-year sales volumes growth of at least 15 per cent,” CEO Jim Rowan said in a statement.

Rowan has expressed confidence in the company’s ability to drive high electric vehicle (EV) margins and continue on a profitable path despite the troubles the industry faces.

While automakers and suppliers are betting on future demand for EVs, sales growth has slowed, with investment in capacity and technology development outrunning demand, boosting pressure on companies to cut costs.

The company’s BEV (battery-electric vehicle) gross margins were 16% in the quarter, a rise from the previous quarter’s figure of 13%, underpinning Rowan’s stance that its margins will continue to rise.

In February, Volvo said it would seize further funding of the loss-making luxury car brand Polestar, which had for some time ahead of the decision been criticised by analysts who saw the company as a drag on Volvo’s resources.

“Generally… during the quarter there were higher losses in Polestar that hurt the reported EBIT,” Handelsbank analyst Hampus Engellau told Reuters.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Tesla to boost production with existing factories, new investments in India and Mexico on hold

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Tesla said on Tuesday that it will use its existing factories to build new and more affordable vehicles as early as late this year, leaving investments in new factories in Mexico and India unlikely in the near term.

The world’s top EV maker said it plans to raise production by 50% from 2023 to its current capacity of close to 3 million vehicles before investing in new manufacturing lines.

“This update may result in achieving less cost reduction than previously expected but enables us to prudently grow our vehicle volumes in a more capex efficient manner during uncertain times,” the company said.

Investors cheered the decision not to take the risks of building new models in new factories, with Tesla shares jumping 12% in after-hour trading despite the company’s quarterly results missing financial targets.

“I think it’s a positive that he’s not just barreling ahead with an expansion plan, ignoring the challenges in the market and the fact that he’s doing a cheaper vehicle from the existing product line,” said Elliot Johnson, chief investment officer at Evolve ETFs, which manages nearly $6 billion in assets, including investments in Tesla and other EV makers.

Reuters exclusively reported on April 5 that Tesla had scrapped plans to launch its cheap vehicle, known as Model 2, which Tesla planned to build in Texas, Mexico and a third country. The Model 2 had been expected to cost $25,000 and drive Tesla’s growth into a mass-market automaker.

Musk had responded to the Reuters report with a message on X that “Reuters is lying.” He did not give details and on Tuesday he did not directly address the Reuters report.

Instead, Tesla discussed unidentified new models that appeared to be different products.

In January, Musk said Tesla aimed to deliver the cheaper new model in the second half of 2025, adding that the model will have “revolutionary manufacturing technology” and generate the next wave of growth for Tesla.

But Lars Moravy, head of Tesla’s engineering, said on Tuesday that new manufacturing processes and production lines come with “some risks,” and the automaker made a “major shift” to utilize its facilities to build low-cost vehicles in a fast and efficient manner for now.

Musk had been expected to meet with Indian Prime Minister Narendra Modi on Monday and announce major investments in an auto factory to produce a small, affordable model. Musk canceled at the last minute, citing “very heavy Tesla obligations” and said he aimed to reschedule the visit for later this year.

Musk said last year that Tesla will “definitely” build its factory in Mexico, but that the timing of the factory would depend on the economy and interest rates that reduce the affordability of vehicles. He also said that Tesla would start the initial phases of construction last year.

Tesla did not respond to a request for comment on Tuesday on its plans in Mexico and India.

Analysts said it would be hard for Tesla to expand capacity while it braces for slowing sales after years of double-digit growth rates. Tesla on Tuesday reiterated that this year, its vehicle volume growth rate may be notably lower than in 2023. Musk added during a conference call that sales would still grow from last year.

Smaller peer Rivian, known for its R1S SUVs and R1T pickup trucks, said last month it would start producing its smaller, less expensive electric R2 SUVs at its existing U.S. factory to hasten deliveries in the first half of 2026. It had previously planned to build the R2 at a new $5 billion plant.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow