Xiaomi’s EV unit once again performed well in strong competition among new-energy vehicle makers to sell 28,154 vehicles in April. That is also the seventh straight month, the company has retained delivery volume over 20,000 units, in terms of continuing demand despite the production constraint. Although this number is a bit lower than last month’s total of more than 29,000 units, the sustained delivery volume is a testament to the increasing demand for Xiaomi EVs.

March 28 last year, Xiaomi officially announced its debut in the EV space by unveiling its first electric sedan, the SU7. The car has generated an immense amount of buzz with the mainstream market and the auto industry overall, thanks in part to its range, aggressive pricing, and relatively similar price point compared to the Model 3. SU7 accompanies three models—Standard, Pro, and Max—providing diversified performance and features for diverse users. Mu that the Standard version will be available for a RMB 215,900 (about $29,690) starting price, with the Pro and Max versions coming in at RMB 245,900 and RMB 299,900, respectively.

The deliveries of the SU7 in the Standard and the Max versions were started in April [51] after its official presentation and a month after, in May, it was the turn of the Pro version. The SU7’s warm reception generated high demand, outstripping Xiaomi’s production capacity in no time. Now, new customers who order can expect to wait about 40 weeks to receive their vehicles. Compare this to the 30-week lead time that was standard back when demand for the vehicle began outpacing production – as you can see, production isn’t scaling fast enough to meet demand.

Expanding its extensive lineup, Xiaomi unveiled its latest electric sedan and it’s called the SU7 Ultra. The new model was first introduced on February 27, and it is a high-performance machine with a hefty 1,548 Ps of peak power. These numbers mean the SU7 Ultra is securely in the high performance electric vehicle market. Beginning at RMB 529,900, the vehicle is priced in line with its high-end orientation and cutting-edge technology. The SU7 Ultra first went on sale on March 2 and now the company is being injected with even more EV sales momentum.

Other than sedans, Xiaomi is set to join the electric SUV business — a market that’s still growing at an astonishing pace throughout the world. The company is likely to introduce the YU7, its electric SUV intended to take on Tesla’s super-hot Model Y, as soon as June or July. Although we don’t have official specs and pricing for this model just yet, the buzz around this model suggests that Xiaomi wants to blanket the electric passenger vehicle market, from mid-range priced sedans through to high performance cars, and on into family-carrying SUVs.

However, Xiaomi EV still confronts many difficulties, in particular on the materialization of mass production. The main limiting factor is still factory capacity. Punch Presses Operating at Maximum We have taken our company up to a new level, drawing every ounce of production capability out of existing facilities and still trying to meet unrelenting increases in customer demand. But as orders grow and sitidelivery timelines extend, some buyers’ patience is being tested. The situation should be something that Xiaomi are well aware of – one would expect they are in fact diligently working in the background to expand production and address this very discrepancy.

One thing you may have noticed is that, unlike many of its Chinese competitors, Xiaomi has not provided breakout shipment figures, at least not in the detailed format that for example Huawei has given us. Instead, it rather speaks more abstractly about numbers, such as “over 28k units”, which it could be that it has a well thought plan to keep options open or it does not want to signal the weight of its gameplay by making all too many comparisons in an overcrowded games market. Nevertheless, the numbers that are available tell a remarkably consistent story of continuous growth.

The demand for Xiaomi’s electric vehicles is not just a sign of the company’s reputation in consumer electronics but also a reflection of a broader change in the preferences of consumers who live their lives in the digital world. The company’s bet on the EV space was at the time considered a bold pivot, but it is now starting to pay off. Xiaomi has several models on sale today and more on the way, making it a quick upstart in heating up China’s hot EV industry.

When looking ahead, the real test for Xiaomi will be how well it can handle scale, quality control and continued innovation in a space whose pace moves at lichtning speed and whose consumers’ preferences are constantly shifting. If it can iron out the kinks in its existing production processes and further expand its product range, the company might grow to be an influential name in the international EV industry in the years ahead.

Article By
Sourabh Gupta

The Maharashtra cabinet has made a major move in the direction of promoting green mobility and offering safer commuting alternatives by approving two key policies—the Maharashtra Electric Vehicle (EV) Policy 2025 and the new Aggregator Policy for app-based transport services. The two decisions were taken at a cabinet meeting, chaired by Chief Minister Devendra Fadnavis, and are considered to be important in steering the state’s future of sustainable transport. The recently approved EV policy that will be valid till 2030, aims to significantly drive up production and usage of electric vehicles across the State. Rs 1,993 crore has been allocated by the government for the actualisation of this policy in the next five years. It articulates clear targets, such as the creation of a strong EV charging infrastructure, cutting vehicular emissions and stimulating the adoption of environment-friendly modes of transport. The broader aim is to reduce carbon and greenhouse gas emissions from the transportation sector consistent with a larger move toward clean mobility by the end of the decade.

The Maharashtra government has decided to waive off several key costs involved in purchasing and using electric vehicles, in order to make them more feasible and attractive to members of the public. These include waivers on the tax levied on motor vehicles, on the registration tax for electric vehicles, and on the fee for renewal of registration for all electric vehicles registered and sold in the state. Not only will this cheapen the overall cost of EV ownership, it should also streamline the ownership experience and make it easier to get into for the masses. Customers of different kinds of EVs, including two-wheelers, three-wheelers, personal four-wheelers and public transport buses would be eligible for the subsidies. For most categories, the subsidies will total up to 10 percent of the base price of the vehicle. In case of commercial EVs including eletric three-wheelers, transport four-wheelers, electric auto, and e-rickshaws, among others, the incentive will be extended up to 15 percent. The aim of such financial incentives is,-to create demand, promote adoption from private to commercial, and slowly but steadily accelerate the transition away from internal combustion engine powered vehicles to cleaner electric alternatives.

Yet one of the most positive aspects of the policy is its emphasis on developing the infrastructure for EVs, especially charging stations. The government aims at establishing EV charging centers in every 25 kilometers on the state and national highways. This will help to solve one of the most cited concerns of electric vehicle owners—range anxiety—and will help make sure that EV drivers in the state always have somewhere to plug in.

As a measure to encourage electric mobility, especially for long haul- driving and public transportation, the toll for electric four wheelers, electric passenger cars will be even exempted for the toll tax on multiple of Maharashtra’s prominent motorways. This also includes the Mumbai-Pune Expressway, the Atal Setu and the Samruddhi Mahamarg. This discount will also be extended for 50% reducton toll in other highways maintained by PWD. The move is also expected to save electric vehicle owners travel costs, besides encouraging the use of electric buses in public transport and helping the state achieve its clean mobility target, according to officials.

Along with the EV policy, the government of Maharashtra has also signed off on a all-round Aggregator Policy aimed at those in the app-based transport business — cab and bike-taxi operators. This is the first such policy in the state, and follows Supreme Court guidelines for better regulation and safety in the app-based ride hailing industry. Under the new policy, aggregators will have to adhere to all IT Act guidelines, which include real-time GPS tracking, providing options for contacting emergency services from within the application and a background check of the driver. They are also planning to introduce compulsory training programs for drivers to enhance safety and levels of service.

Central to the policy is the emphasis on ensuring the safety of women. Special settings will be available for women passengers such that they will travel only with women drivers or co-passengers while taking the ride-pooling service, the release added. One method to achieve this safety-first philosophy in the larger context of creating more inclusive and safer public mobility, particularly for some of our more vulnerable demographics.

The government also intends to create a mechanism to address grievance specifically catering to the drivers and passengers. This initiative aims to address concerns more effectively and provide transparency in the ecosystem. The modalities and process of implementation of the Aggregator Policy will be notified separately by the respective departments.

“Both are holistic policy initiatives initiated by the Maharashtra government to accelerate sustainable and technology-led transport,” Kharola told ET. By bringing together environmental concerns with the safety and availability of commuting options, the state is adopting an integrated approach to transform its city and inter-city transportation environment. These steps should help reduce pollution, of course, but also update public and private transportation in ways that make life better for residents and employers.

Article By
Sourabh Gupta

Ather Energy, one of the leading electric two-wheeler companies in India, has announced the commencement of its long-awaited initial public offering (IPO), India’s first big startup to float in the fiscal year 2026. The rollout follows months of strategic pauses and careful market watching. But the Red Herring Prospectus (RHP) of the company contains a lot of technical and operational risks that prospective investors would do well to consider. The revelations provide a rare candid view of the uphill task that Ather is up against in a fiercely competitive and rapidly changing electric vehicle market.

There are also deeper risks identified in the RHP such as Ather’s supply chain dependence. Ather co-founder Tarun Mehta has stated that the startup’s supply chain is stable despite China’s ban on exporting rare earth magnets to India, but, the fact is that the Bengaluru based electric mobility company does not make motors inhouse. In reality, the battery pack is the only significant part made in-house. Remaining components including battery cells, chassis, motor controller, among others are also sourced from third-party manufacturers (though designed by the Ather team). This dependence is highly risky. Any break in the supply chain due to price hikes/delays might affect the production timelines and delivery schedules of Ather. Because of the significance of these items in particular key ingredients such as rare earth magnets for electric motors, such risks should not be taken lightly.

Another difficulty for Ather is that it is up against the legacy automakers who have entered the electric two-wheeler market with deep pockets and strong market presence. Brands like Bajaj Auto, TVS Motors and Ola Electric are now threatening to slice away at Ather’s share. Though Ather had strong early momentum and built its own technologies such as Ather Grid, Ather App, and True Range system, it continues to work on a smaller scale than its peers. It is also to be noted that Ather is the only player who has not utilised the PLI schemes offered by the government among the bigwigs. Growing presence of established, larger companies in the market had made it increasingly difficult for new participants such as Ather to grow at the same pace.,” it said quoting a CRISIL report mentioned in the RHP. While the organization is making significant investments in next-gen technologies and infrastructure, the scale disparity is still a formidable challenge.

Ather’s road to profit seems to be long and winding. Like many of the new-age electric vehicle companies, Ather has yet to make a profit. Click Here Government incentives for electric two-wheelers are minor and not a major factor for LED lead batteriesElectric two-wheelers have high capital costs for batteries and this capital cost has to be recovered by adopting cost saving measures like minimizing their mileage. The numbers are still far less than those for competitors like Ola Electric, Bajaj’s Chetak and TVS iQube. ICe scooters continue to rule the roost in India and are responsible for over 85 percent of domestic sales in FY2024 in such two-wheelers. Electric scooters account for just 14.7 per cent of the share. While this segment is increasing, it is not sufficient to recover the large operational and R&D expenses that Ather has. The company will soon start working on expanding its production capacity and R&D for its software platform Atherstack and for building a new electric motorcycle platform. But the electric motorcycle category is also nascent in India… there has been little traction for models from Ola Electric, Revolt, or Ultraviolette. The high production costs, scalability challenges and fragmented incentive schemes have so far left the brand struggling to turn a profit.

The uncertain policy landscape in India adds to the cloudier future for Ather, and all other EV makers. The industry has been asking the government for a clear and stable EV policy over a long period of time. Without this, it is hard to make those strategic long-term investments. Even though EVs are the focus right now, we could shift our focus to other technologies like hydrogen fuel cells, which would also shift the direction that the government incentives are headed. Furthermore, customers are treated poorly in the current EV ecosystem. Other factors such as electric scooters having bad resale value, decline in battery performance over the years, increase in electricity prices, limited financing solutions and high insurance costs make EV propagation slower. Currently, Ather customer can get a rebate of ₹5,000 on purchase of a new scooter, which is not a lucrative offer for many of the buyers.

Another key risk in the RHP is Ather’s high dependence on China and South Korea for its battery cells. All the battery cell supply for the U.S. also comes from these two nations. This makes Ather very much exposed to price fluctuations, quality problems and possible supply constraints. And crucially, the purchase deals are not fixed on price or volumes, adding another layer of uncertainty. Lithium-ion cells are fragile and can be a significant safety risk, and even a small reduction in quality could prompt widespread battery recalls and tarnish the brand name. The disparity with EV demand and battery cell production growing at a faster pace will also lead to suppliers giving preference to other clients and that could delay Ather’s supply chain and production.

All in all, though Ather Energy is still a significant player for India’s EV revolution with product innovations and strong brand identity, the company has clearly mentioned systemic and strategic risks in its IPO paperwork. Investors who want to be part of this IPO should calculate these risks carefully and make an informed choice, regarding the hurdles this EV players could be facing Related : Well, they are now really really going all in on EVs.

Article By
Sourabh Gupta