Christie Fernandez on LinkedIn: New car registrations: +13.7% in April 2024; battery electric 11.9% market… (2024)

African nations are now aware that road transport can be powered by renewable energy produced locally, instead of importing expensive fossil fuels that are a big drain on their precious forex reserves, and also pollute the air they breathe.African nations are also realising that electric vehicles can be assembled locally, which creates more jobs opportunities for it’s citizens. Sooorya EV is getting many enquiries from African nations for our purpose-built electric taxi, so we are planning to setup micro-factories in Africa…“Ethiopia spends over $5 billion USD annually on petrol and diesel imports, precious foreign currency it does not have. Ethiopia has also recently started generating electricity from the first units at the 5-gigawatt Grand Ethiopian Renaissance Dam, adding to its other hydro and renewable energy resources. Electricity is ridiculously cheap in Ethiopia at under 1¢ USD per kWh in many cases. Ethiopia therefore wants to save as much foreign currency from that fuel import bill as possible, and EV drivers of course will be benefiting from some unbelievably cheap electricity, which will lower their transport costs.”“Almost 2 years ago, the Ethiopian government introduced some incentives to catalyse the adoption of electric vehicles. Ethiopia’s Ministry of Finance exempted all electric vehicles from VAT, surtax, and excise tax! They went further to exempt completely knocked down kits from customs duty tax. This move was made to encourage the local assembly and component manufacturing sectors for electric vehicles. Semi-knocked-down kits now attract a customs duty tax of 5% and fully built electric vehicles will have a customs duty of 15%.This helped to open up the floodgates. Some of the popular EVs in Ethiopia come in as unofficial imports from China. These models include the Toyota bZ4x EV, Mercedes-Benz EQ range, VW’s ID.4 and ID.6, as well as the Changan Benben E-Star.”Read more in this CleanTechnica article by Remeredzai Joseph Kuhudzai

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It’s proven that electric fleet vehicles are more profitable to own, however there’s a lot of misinformation about EV’s by vested interests - from tyres wearing out fast (it doesn’t) to resale value. Here’s an example of how a police department benefited by switching from polluting ICE cars to electric cars…“Bertram says Bargersville’s fleet of 13 Tesla police cars saves taxpayers about $80,000 a year in fuel costs compared to gas-powered police vehicles."It was a risk in the very beginning but it's proven now," Bertram said.The town is saving enough on fuel to pay for two additional officers. Bargersville is growing and has added about a half dozen officers since it bought its first Tesla.Teslas cost more than a Dodge Charger or Ford Crown Victoria, but Clerk Treasurer Dustin Doyle said the money saved on fuel makes up the difference in less than three years."If it benefits the environment, fantastic," Doyle said. "But this benefits our taxpayers in the sense that we're saving money and we're being fiscally responsible with their money."In 2018, Bargersville spent $54,000 on gas for police cars. By 2023, the town added six new police cars but spent about $31,000 on fuel, Doyle said."When we run those Chargers to the end of their life on a police force, we're lucky to get $3,000 to $5,000 trade value for them," he said."We just traded our first car in this year and we got $17,500 for a 2019 Tesla."Read more in this WRTV article by Vic Ryckaerthttps://lnkd.in/gApGYShH

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Electric Vehicles, especially for the fleet segment’s, provides multifold benefits - increase in earnings, less fatigue for drivers & no tailpipe emmisson, polluting the air we breathe. Sooorya EV is gearing up to launch our purpose-built electric taxi for sustainable mobility - #ridehailing #ridesharing #employeetransport“Today, we find gig workers in every sector. From receiving emergency medicine, getting food delivered even in the middle of the night, from receiving parcels at the doorstep to calling a cab at the last minute and being in time for a meeting—a lot of activities have become the norm for almost everyone now. The convenience of these services, made possible by a simple tap on a smartphone, has become an integral part of modern life.However, the escalating prices of conventional fuel have imposed a substantial financial burden on gig workers, forcing some to resort to pedalling bicycles over long distances to earn a living. In India alone, nearly a million gig workers engage in various delivery tasks, often covering vast distances on conventional ICE two-wheelers, further exacerbating the impact of rising fuel costs.NITI Aayog estimates India has 7.7 million gig workers, which it expects will swell to 23.5 million by 2029-30 delivering a multitude of items—such as food, groceries, medicines, documents, parcels and so on—from one place to another. A majority of them use conventional ICE two-wheelers while offering these services and most of them travel a regular distance of 100 kilometers every day. Needless to say, the rising fuel prices have not been kind to them.But recent trends reveal a radical change. More and more gig delivery workers are adopting electric vehicles (EVs) to get them around for parcel delivery. This transformation is driven by the global push by aggregator platforms to lower greenhouse gas emissions and embrace sustainable transportation options. Most importantly, a delivery person does not have to face the harsh impact of ever-so-often fuel price hikes.”Read more in this Autocar Professional article by Eugene Panfilov

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Japanese automakers had a marketshare of over 90% in Indonesia. Now, Chinese EV startups are capturing marketshare, because legacy Japanese automakers are reluctant to launch EV’s in the market. Opportunity for other business groups in Japan to launch or fund EV startups, so that the Japanese automobile industry still thrives when the industry transitions to electric drivetrains. China is currently leading with around 50% of new car sales expected to be electric drivetrains…“Chinese electric vehicle makers BYD and Neta Auto are poised to challenge Japan’s dominance in Indonesia’s car market, announcing new investment plans and rolling out their latest models at an auto show in Jakarta.Indonesian property developer Suryacipta Swadaya announced on April 30 that BYD will build a USD 1 billion factory on 1.08 square kilometers of land in West Java. Construction is slated to start in August, and operations are expected to commence in January 2026. The plant’s capacity will be announced later, the company said.“We are confident that the facilities to be built will be able to drive the growth of Indonesia’s automotive industry and transition towards clean energy while also supporting the economy, especially in the surrounding region,” Eagle Zhao, president director of BYD Motor Indonesia, said in a statement.Southeast Asia’s largest auto market, Indonesia sold about 1 million new cars in 2023. Japanese brands such as Toyota and Mitsubishi control more than 90% of the market, but Chinese automakers are now moving in with EVs.”Read more in this KrASIA article.

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While there is a constant barrage of negative news about electric vehicles, the transition from tailpipe polluting ICE vehicles to electric vehicles is underway globally, especially in countries dependent on imported gasoline and with no legacy automakers or fossil oil lobbyists…“Clean energy and Mark Twain aren’t usually connected, but paraphrasing his famous quote is apt: The reports of electric vehicle sales’ death are greatly exaggerated.Data from The International Energy Agency’s Global EV Outlook 2024 makes vibes-based reporting on the demise of EV sales look silly - global EV sales could hit 17 million in 2024, meaning more than one in five cars sold worldwide will be electric.Surging demand for clean, cheap EVs across the rest of this decade will completely change the global auto industry. By 2035, IEA projects 50% of all cars sold globally will be EVs, cutting oil demand between 6-10 million barrels per day, equivalent to the current amount used for road transportation in the U.S.The price differential between EVs and internal combustion engines running on fossil fuels has narrowed so fast that upfront sales prices are barely different. With cheap electricity displacing expensive oil costs, drivers can save big by driving electric.This is huge news for cutting consumer costs, creating new jobs and investment, and cleaning up our air.Everyone, everywhere wants to save money and breathe cleaner air. Soon everyone, everywhere will soon have the choice to make their next car a clean, cheap EV.”“This year EV sales in China, the world’s biggest auto market, are projected to hit 10 million vehicles, roughly 45% of all car sales in that country. In the United States, the world’s second largest auto market, EV sales are forecast to rise 20% compared to 2023, hitting roughly 11% of all new car sales. And in Europe, the world’s third largest auto market, EV sales could rise 10%, composing 25% of total sales.New car sales eventually turn over entire fleets, and the IEA projects that by 2030 EVs will compose 33% of all cars on the road in China while 20% of all cars on the road in the U.S. and EU will be electric.”Read more in this Forbes article by Silvio Marcacci https://lnkd.in/gA9nK-VC

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It’s good to see automobile companies in India well funded. However, as an entrepreneur trying to launch an electric vehicle in the market, securing funding is the biggest hurdle. At Sooorya EV we have crossed many hurdles over the last 7 years in our design & development efforts to launch a purpose-built electric taxi for sustainable mobility - #ridehailing #ridesharing #employeetransport #shuttleservicesAfter many iterations, we are now confident of taking our vehicle design into production.We have received enquiries from global markets, even before launching in the market. That’s because we managed to achieve a great PMF (Product Market Fit) with our unique vehicle architecture of ‘Fixed + Swappable Batteries + Solar Roof’, which ensures zero-charging downtime. We have also right-sized our vehicle to achieve maximum efficiency, which increases profitability for all stakeholders.Thinking aloud, with just 1% of the rupees 27,000 crores ( Rs. 270 crores / $32 million) we will be able to successfully launch Sooorya EV in the market. Hoping that someone from Mahindra and Mahindra Limited [Automotive and Farm Equipment Business] will connect with us ;) Investors with smaller ticket sizes are welcome too…https://www.sooorya.com/

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Growing up, I was amazed at the strategic thinking that emanated from America. Today, I am appalled at America’s lack of strategic thinking or leadership during this climate crisis. America imposing a 100% customs duty on Chinese electric vehicles and not on Chinese ICE vehicles is difficult to fathom.The Americas - a continent which was home to native Americans, was taken over by immigrants from continental Europe, and grew from a largely cattle-rearing economy to a Superpower. I marvelled at how from the early days of branding of cattle & cowboys, America went on to became the most desired brand in the world. This was achieved primarily by leveraging ‘Wall Street’ (Finance) + ‘Madison Avenue’ (Advertising) + ‘Hollywood’ (Entertainment) + ‘Guns’ (Military). The American (new immigrants) way of life became desirable globally, it was the start of the gold-rush. And it continues to do so, with new immigrants thronging its borders even today, but now are pushed back by earlier immigrants (colonisers) not native Americans.America has two big strengths - it’s ‘Currency $ - American Dollar’ which was valued globally, plus it’s ability to attract the brightest brains from around the world to flock to it’s educational & research institutions - it’s ‘Brain Power’. The third strength is its ‘Risk Appetite’ especially on its stock markets. Risk-taking & dealmaking was embedded in the American DNA, given the fact that most immigrants took enormous risks to get to the Americas.However, America had to compete with a historically powerful nation, the Russians USSR (Union of Soviet Socialist Republics) for global ‘Superpower’ status. And we lived in an era of ‘Cold War’ rivalry fuelled by space-race / nuclear-race and competing for influence in many parts of the world, including getting involved in fighting wars for other countries. Anyways, USSR’s military power wasn’t sufficient to counter the might of America’s (Military + Finance + Media) and it slowly withdrew from the ‘Superpower’ competition.This void in Superpower rivalry is now filled by China, one of the most populous countries in the world and an economic superpower. And it looks like the dragon is going to devour the cowboy…

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America, has made a policy decision to impose 100% customs duty on imported electric vehicles from China, (while maintaining zero duties for ICE vehicles manufactured by American automakers in China), and just 2.5% for imported ICE cars & 25% duty for imported ICE Cargo Trucks / Pickup trucks / Cargo Vans. With this policy, America will end up importing more of China’s displaced ICE vehicles rather than electric vehicles.China is the biggest automobile manufacturer and market in the world, with over 30 million vehicles sold in 2023. However, around 9.5 million vehicles sold were electric vehicles. It’s estimated that China’s automobile industry has a capacity to produce over 50 million vehicles every year, and a lot of that capacity is owned by foreign automakers including Ford, GM, Stellantis, Toyota, Tesla etc.China exported over 5 million vehicles last year, 70% of the vehicles exported were ICE (Internal Combustion Engine) vehicles. So while China switches from polluting ICE vehicles to electric vehicles manufactured locally, it’s able to export the displaced ICE vehicles. We are all beginning to experience the impact of climate change over the last few years, with more frequent episodes of floods, droughts, fires, earthquakes, hurricanes & cyclones. These natural calamities will become even more frequent, more distructive & disruptive over the next few years, leading to a climate emergency. Our leaders need to think strategically & act decisively now, in order to mitigate the impact of climate change caused primarily by our excessive burning of fossil fuels in vehicles & in industries.BNEF estimates EV’s to displace 17.6 million barrels of oil per day by 2040, resulting in CO2 emissions reducing by 2.57Gt a year from road transport. In this context, it seems silly for our leaders to curb the adoption of electric vehicles which can be powered by renewable energy. Wondering whether the influence of the fossil oil lobby is very strong in America and not in China.Looks like America is beginning to lose not just it’s automotive industry to China, but also it’s global leadership during this climate crisis by curbing the adoption of electric vehicles. Your thoughts please…(Image generated by MetaAI)

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Safety ratings of cars must be redefined, especially in developing countries. We have to stop thinking that roads are built just for cars (might be so in America). In most developing countries, bikes & trikes constitute the majority of road users, so safety standards must focus more on other road users, rather than just the occupants of the car. David Zipper gives us a comprehensive overview of how cars got bigger & bigger, a must read for all policy makers… NITI Aayog Automotive Research Association of India (ARAI) Nitin Gadkari Society of Indian Automobile Manufacturers (SIAM) “Cars, you might have noticed, have grown enormous.”“The expanding size of automobiles — a phenomenon I call car bloat — has deepened a slew of national problems. Take road safety: Unlike peer nations, the US has endured a steep rise in traffic deaths, with fatalities among pedestrians and cyclists, who are at elevated risk in a crash with a huge car, recently hitting 40-year highs. Vehicle occupants face danger as well. A 2019 study concluded that compared to a smaller vehicle, an SUV or a pickup colliding with a smaller car was 28 percent and 159 percent, respectively, more likely to kill that car’s driver.”Read more in this Vox article.

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