India's EV 🚗 🔋 Surge in 2024: About 1.95 Million registration, a massive 27.21% YoY increase, now at 7.44% market penetration! 🛵 Two-Wheelers: 1.15 million registered, 6.07% penetration (even higher counting unregistered ones). 🛺 Three-Wheelers: 0.69 million new on the roads, an impressive 56.58% penetration! 🚘 E-Cars: Nearly 99,055 registered, capturing 1.99% of the segment. 🚌 E-Buses: 3,612 units, with a 5.25% share. 🚛 Light Goods Vehicles: 5,997 units, a 162.68% YoY jump! 🚚 Electric Trucks: 224 units, a modest 0.08%. This segment will take time to grow. Now look at OEM Wise breakdown among segments: Electric 🛵2W Boom in 2024: Over 11.48 lakh new electric scooters and bikes hit Indian roads⚡️! Market Leaders🔋: Ola Electric dominated with 4,07,584 units, holding 35.48% of the market! TVS surged to 2,20,588 units, securing 19.2%. Bajaj followed closely with 1,93,494 units, nabbing 16.84%. Ather Energy proved consistent, selling 1.26 lakh units, with 10.99% share. Steady slow growth? Others: Vida: 43,702 Revolt: 9,953, boosted by new models Bounce: 6,972 River: 2,508 Simple: 1,400 🔌🚗 Now increasingly exciting Electric Car Market in India: 2024 saw about 99,055 registrations, with a 2% segment penetration! 🏆 Market Leaders: Tata clinched the lead with 61,551 units, holding 62.14% of the market. But, is their reign secure as MG gains ground? Will they top the charts in 2025? MG, thanks to the Windsor, secured 21,529 units and 21.73% of the market pie. Mahindra did good with 7,114 units at 7.18%. How much will BE & XEV boost these numbers? BYD captured 2.85% with 2,827 registrations. Others: Citroen: 1,875 BMW: 1,214 Mercedes: 942 Hyundai: 913 - can the Creta make a difference? Volvo: 443 Kia: 409 Audi: 143 Porsche: 73 Rolls Royce: 16 JLR: 4 Nissan: 1 Skoda: 1 🚌🔋 Electric Buses Surge in 2024: 3,612 electric buses, capturing 5.25% of the bus market! 🏆 Market Leaders: Tata led the pack with 1,462 units, dominating with 40.48% of the market. BYD secured second place with 630 units, holding 17.44%. JBM Auto came third with 561 units, at 15.53%. Others: PMI: 534 Switch: 137 VE: 107 Pinnacle: 99 AeroEagle: 37 Mytrah: 14 Veera: 20 Causis: 8 🚚🔥 2024: Spicy Growth in Electric Commercial Vehicles: Light Goods Vehicles (4W): Tata Ace EV led with 4,523 units. Switch: 326 VE: 76 EVage: 75 Pinnacle: 52 Heavy Goods Vehicles (Electric Trucks): Total of 224 units registered, needing more policy support and availability. IPL Tech: 96 BYD: 82 Propel: 20 Olectra: 16 Ashok Leyland: 10 ✨ 2025 looks promising with news of major deals on the horizon. Let's see if we get a significant boost!

Our Rough Report on Gotion High-Tech's India opportunity, feat. VW & TACO. VW if they work on their electrification plans, Mahindra deal for cells & Tata current deal can lead to a potentially good opportunity for local cell manufacturing. Firstly, what's the relation between VW and Gotion? Well VW is largest shareholder of Gotion In 2022 VW announced its Unified Cell approach, gotion being the tech partner & supplier. Gotion is helping VW with its germany plant and it's also a designated supplier for its overseas markets. According to a AutoCar report, VW-Skoda EV plan for India can lead to half a million unit for both domestic and export markets. Mahindra announced a deal for 50GWh cell supply over lifetime. We took these figures on a roughly 10 year time period Gotion and TACO relation - Both have a JV in India for pack manufacturing & R&D India Context for TACO and Gotion Nexon, Tiago, Tigor EVs use cells from Gotion. MG Comet too has pack by TACO-Gotion. In current demand, we took yearly use of 2GWh Tata also opened a BESS plant recently of 6GWh capacity. Let's assume conservative as of today demand of 1GWh. Then we have recently announced VinFast plant. VF is also a customer of Gotion. VF, if successful locally, we assumed couple GWh for them too. So So how can this work? VW-Skoda-Mahindra need unified LFP cells. TACO, VF use other Gotion ones. Joint production? Separate production sites and mechanism for both different ones? What we didn't account for above? But Summary - The Conservative estimate of 12GWh cell demand looks confidence inspiring to take the plunge to have a local cell plant to boost the adoption of Elektromobilität in India. As we say we need to have more players and more models to address different needs of consumers in India. Having local cell plant will only help to build the consumer confidence in the brands. What do you think of this? We definitely need local Cell production. LFP market is ripe for someone to capture if they can. Would these companies do this? Mahindra will be taking cells from BYD and Gotion-VW unified. Both not having production here means all of them will be imports. VW if they materalise on their plans, too will be import dependent for cells. In future, import duties on cells is sure to increase, which could create potential issues for companies totally reliant on imports. Any suggestions? Do let us know. Click here to download PDF report. - Team Tesla Club India

We did some back of the napkin math on expected #TeslaIndia Model 3 & Y prices⚡️. These are our rough guesstimates👀. If you have missed the import duty reduction news, do check this out. Model 3 RWD can start at around 37-38L Model 3 LR around 45L Model Y RWD around 42L Model Y LR around 48L Model Y Perf around 53L We first considered US prices(Fremont/Giga Texas) and then Australia prices(Shanghai Giga factory) for our calculations. *Prices taken from Tesla website as on 15/03/2024 *Factors like local cost, expenses for Tesla, delivery/handling charges etc are not included.