Tata, Stellantis formalise pact for Sierra-based Jeep SUV

Tata, Stellantis formalise pact for Sierra-based Jeep SUV
Tata Sierra-based Jeep SUV

Tata Motors Passenger Vehicles (TMPV) and Stellantis have signed a formal agreement to expand their partnership into product technology, platforms and vehicle architecture, formalising plans for a new Jeep SUV based on the Tata Sierra’s ARGOS platform, according to people in the know. Internally codenamed J1J, the Jeep SUV will get both internal combustion engine and electric versions and it is likely to use the same powertrains as the Sierra, say people in the know.

Sierra-based Jeep SUV: platform and production plans 

ARGOS stands for All-Terrain Ready, Omni-Energy and Geometry Scalable. It is TMPV’s modular, multi-energy vehicle architecture, designed to accommodate different vehicle dimensions and powertrain applications, which can open up more opportunities for Stellantis in the future.

While Tata Motors is producing the Sierra at its Sanand factory in Gujarat, production of the Jeep model is likely to take place at the Fiat India Automobiles Ltd (FIAL) joint venture facility in Ranjangaon, Maharashtra. The manufacturing operations are expected to be adapted for the programme over the next 18 months, added a person in the know.

The programme forms part of Stellantis’ wider ambition to sell 100,000 locally produced vehicles globally in 2028 across its Tata and Dongfeng partnership programmes combined, as outlined at its May 2026 Investor Day. The target covers several products. The company is likely to launch the first vehicle in the first half of 2028, say sources.

A dedicated team for the project is currently based out of Pune and will look at adapting the vehicle architecture, including a left-hand-drive version for overseas markets. A range-extender electric vehicle application is also being explored on the platform, although no production decision for the REEV has been finalised, according to people familiar with the engineering work.

An email sent to Tata Motors and Stellantis seeking comment remained unanswered at the time of publication.

The formal agreement builds on a relationship spanning more than two decades. Having collaborated on manufacturing, powertrains and the supply chain, the partners are now extending their cooperation into vehicle development.

Sierra-based Jeep SUV: Different body and cabin

Stellantis is benchmarking its own Jeep Renegade and Compass products for the J1J model development, according to company sources. Its eventual name and final production design are being firmed up.

This clearly indicates that the Jeep will have a different upper body, or top hat, exterior styling and cabin. Changes will extend to the seating package, interior features and equipment. These will distinguish it from the Sierra, while allowing the companies to share the underlying architecture and components.

Much of the platform is expected to be retained, with structural modifications and reinforcements, where required, to accommodate the Jeep body and meet crash and overseas regulatory requirements. Details of Jeep-specific suspension tuning and off-road hardware could not immediately be established. A 4×4 variant is also likely as Jeep’s brand guidelines insist on giving its customers a 4×4 option for all its models. Whilst the electric version of the Sierra already comes with 4×4, the ARGOS platform has been packaged and developed to accommodate a 4×4 ICE drive train as well. In fact, the Jeep partnership could accelerate the launch of a Sierra 4×4 to coincide with launch of the next-gen Jeep SUV. 

Tata Motors sister company Tata Technologies is understood to be involved in engineering execution at Stellantis. The work includes the Jeep-specific body and interior package, left-hand-drive adaptation and changes needed to meet overseas regulations.

According to people familiar with the programme, TMPV will retain ownership of the architecture and license it to Stellantis. Existing Sierra suppliers are expected to support Jeep where components can be shared, with separate sourcing and tooling for model-specific parts.

India development, global markets

Stellantis had disclosed its intention to develop a Tata-based Jeep at its May 21, 2026 Investor Day. Grégoire Olivier, its Asia Pacific chief operating officer, said Tata Motors would provide a competitive platform for a new Jeep vehicle to be developed and assembled in India through the existing joint venture for global markets. 

Olivier had also outlined exports to more than 50 countries across the wider portfolio, including the Dongfeng programmes, the Tata-based Jeep and the existing Citroën Smart Car programme in India. The markets allocated specifically to J1J have not been established.

For Stellantis, Tata’s architecture and supplier base offer a way to reduce development expenditure while adding a new Jeep product. For TMPV, the arrangement could generate licensing revenue and spread platform costs across additional vehicles. Common components could also bring suppliers higher volumes.

The alliance is a much-needed segue for the Jeep brand which has been in India for close to a decade but has been relegated to the fringes of the Indian market with a lack of product action. A licensed modular architecture with the potential for multiple powertrains, 4×4 capability and different wheelbases will open opportunities for more products in a quicker time interval. 

The programme would extend the Ranjangaon venture from manufacturing cooperation to producing a Jeep on Tata’s vehicle architecture. The left-hand-drive version would widen its overseas reach, giving the plant access to demand beyond India and other right-hand-drive markets.

With inputs from Ketan Thakkar 

Zetwerk Manufacturing IPO 15 अक्टूबर से, प्राइस बैंड ₹143-₹151 प्रति शेयर तय

जेटवर्क मैन्युफैक्चरिंग बिजनेस लिमिटेड का IPO 15 अक्टूबर को खुलने जा रहा है। इसके लिए प्राइस बैंड ₹143-₹151 प्रति शेयर फिक्स किया गया है। लॉट साइज 99 शेयर है। कंपनी का इरादा ₹5,012.33 करोड़ जुटाने का है। IPO में ₹2,830 करोड़ के नए शेयर जारी होंगे, साथ ही ₹2,182.33 करोड़ के शेयरों का ऑफर फॉर सेल (OFS) रहेगा। इश्यू 19 अक्टूबर को बंद होगा, जिसके बाद अलॉटमेंट 21 अक्टूबर को फाइनल हो सकता है। 20 अक्टूबर को शेयर बाजार में दशहरा की छुट्टी है। कंपनी के शेयर NSE और BSE पर 23 अक्टूबर को लिस्ट हो सकते हैं।

जेटवर्क पहले एक डिजिटल मार्केटप्लेस थी और अब मैन्युफैक्चरर्स को ग्राहकों से जोड़कर एक एंड-टू-एंड इंडस्ट्रियल मैन्युफैक्चरिंग प्लेटफॉर्म बन गई है। यह कई सेक्टर्स में कस्टम-बिल्ट कंपोनेंट्स के लिए इंजीनियरिंग, उत्पादन और डिलीवरी को व्यवस्थित करती है। ग्राहक डिजाइन प्रदान करते हैं, जेटवर्क सप्लायर का चयन, गुणवत्ता नियंत्रण, टाइमलाइंस और लॉजिस्टिक्स को संभालती है। कंपनी लैपटॉप, हियरेबल्स, वियरेबल्स, IT हार्डवेयर बनाती है। जेटवर्क में खोसला वेंचर्स, एक्सेल, लाइटस्पीड, पीक XV पार्टनर्स, ग्रीनओक्स, एवेनिर जैसे दिग्गजों का पैसा लगा हुआ है।

जेटवर्क में फुली डाइल्यूटेड बेसिस पर पीक XV पार्टनर्स इनवेस्टमेंट्स V सबसे बड़ी इंडीविजुअल शेयरहोल्डर है, जिसके पास 9.12 प्रतिशत हिस्सेदारी है। ग्रीनओक्स कैपिटल अपॉर्चुनिटीज फंड II के पास 8.61 प्रतिशत, रामकृष्णन के पास 8.36 प्रतिशत, एक्सेल इंडिया V के पास 7.74 प्रतिशत और आचार्य के पास 7.53 प्रतिशत हिस्सा है।

Zetwerk IPO को जुलाई में सेबी से मिली थी मंजूरी

जेटवर्क ने अपने IPO के लिए इस साल मार्च में कॉन्फिडेंशियल तरीके से ड्राफ्ट पेपर जमा किए थे। कैपिटल मार्केट रेगुलेटर सेबी से जुलाई में मंजूरी मिलने के बाद अपडेटेड ड्राफ्ट रेड हेरिंग प्रॉस्पेक्टस 13 अगस्त 2026 को फाइल किया। OFS में प्रमोटर-ग्रुप एंटिटी Creovate Innovation, को-फाउंडर अमृत आचार्य, श्रीनाथ रामकृष्णन के साथ-साथ निवेशक पीक XV पार्टनर्स, एक्सेल, लाइटस्पीड वेंचर, के कैपिटल आदि भी शेयरों को बिक्री के लिए रखेंगे।

Fusion CX IPO: ₹702 करोड़ का एक और इश्यू 14 अक्टूबर से; रहेंगे ₹500 करोड़ के नए शेयर; चेक करें प्राइस बैंड

IPO के लिए कोटक महिंद्रा कैपिटल कंपनी, मॉर्गन स्टेनली इंडिया, गोल्डमैन सैक्स (इंडिया) सिक्योरिटीज, एवेंडस कैपिटल, जेएम फाइनेंशियल, एचएसबीसी सिक्योरिटीज एंड कैपिटल मार्केट्स (इंडिया), पैंटोमैथ कैपिटल एडवाइजर्स, बुक रनिंग लीड मैनेजर हैं। रजिस्ट्रार Kfin Technologies Ltd. है। इश्यू में 75 प्रतिशत हिस्सा क्वालिफाइड इंस्टीट्यूशनल बायर्स के लिए, 10 प्रतिशत हिस्सा रिटेल इनवेस्टर्स के लिए और 15 प्रतिशत हिस्सा नॉन इंस्टीट्यूशनल इनवेस्टर्स के लिए रिजर्व है।

IPO के पैसे कैसे होंगे इस्तेमाल

Zetwerk अपने IPO में नए शेयरों को जारी कर हासिल होने वाले पैसों का इस्तेमाल अपना और सब्सिडियरीज का कर्ज चुकाने, पहले से न पता अधिग्रहणों, अन्य रणनीतिक निवेशों और सामान्य कॉर्पोरेट उद्देश्यों के लिए करेगी। अप्रैल-जून 2026 तिमाही में कंपनी का रेवेन्यू ₹4,195.70 करोड़ और शुद्ध घाटा ₹732.98 करोड़ रहा। इस बीच कंपनी पर ₹1,942.19 करोड़ की उधारी थी। वित्त वर्ष 2025-26 में जेटवर्क का रेवेन्यू 40 प्रतिशत बढ़कर ₹16,100.63 करोड़ रहा। घाटा 1,606.17 करोड़ दर्ज किया गया।

Disclaimer: यहां मुहैया जानकारी सिर्फ सूचना के लिए दी जा रही है। यहां बताना जरूरी है कि मार्केट में निवेश बाजार जोखिमों के अधीन है। निवेशक के तौर पर पैसा लगाने से पहले हमेशा एक्सपर्ट से सलाह लें। मनीकंट्रोल की तरफ से किसी को भी पैसा लगाने की यहां कभी भी सलाह नहीं दी जाती है।

अक्टूबर में IPO का मेला, Jio Platforms और Zetwerk समेत एक दर्जन कंपनियां कतार में

IPO Fair in October: जियो प्लेटफॉर्म्स (Jio Platforms), जेटवर्क मैन्युफैक्चरिंग बिजनेस (Zetwerk Manufacturing Business), और एवांडा इलेक्ट्रो (Avaada Electro) समेत करीब एक दर्जन कंपनियों का इस महीने अक्टूबर में आईपीओ आने वाला है। मर्चेंट बैंकर्स के मुताबिक इनके अलावा और भी कई कंपनियां कतार में हैं। ये आईपीओ अलग-अलग सेक्टर्स से होंगे, जैसे कि टेक्नोलॉजी, हेल्थकेयर, रिन्यूएबल एनर्जी, डिफेंस और प्रिसिजन मैन्युफैक्चरिंग। इनमें से कुछ कंपनियां आईपीओ के जरिए सिर्फ नए शेयर जारी करेंगी तो कुछ में सिर्फ मौजूदा शेयरहोल्डर्स ऑफर फॉर सेल विंडो के तहत शेयर बेचेंगे तो कुछ में दोनों का कॉम्बिनेशनल होगा।

इस महीने आने वाले आईपीओ

Jio Platforms IPO: रिलायंस इंडस्ट्रीज की टेलीकॉम और डिजिटल सर्विसेज यूनिट जियो प्लेटफॉर्म्स का आईपीओ 21-23 अक्टूबर तक खुला रहेगा। न्यूज एजेंसी पीटीआई की रिपोर्ट के मुताबिक यह देश में अब तक का सबसे बड़ा आईपीओ हो सकता है।

HD Fire Protect IPO: फायर प्रोटेक्शन उपकरण और सिस्टम बनाने वाली एचडी फायर प्रोटेक्ट के ₹712 करोड़ के आईपीओ का प्राइस बैंड फिक्स हो चुका है। निवेशक इसमें प्रति शेयर ₹258-₹271 के भाव पर बोली लगा सकेंगे। यह इश्यू पूरी तरह से ऑफर फॉर का सेल का होगा और यह 12-15 अक्टूबर तक खुला रहेगा।

Fusion CX: एआई से लैस कस्टमर एक्सपीरिएंस सॉल्यूशंस प्रोवाइडर फ्यूजन सीएक्स ने ₹702 करोड़ के आईपीओ का प्राइस बैंड प्रति शेयर ₹275-₹289 पर फिक्स किया है। यह इश्यू 14-16 अक्टूबर के बीच खुला रहेगा।

Zetwerk IPO: टेक्नोलॉजी आधारित मैन्युफैक्चरिंग प्लेटफॉर्म जेटवर्कका ₹5000 करोड़ का आईपीओ 15-19 अक्टूबर तक खुला रहेगा। इस इश्यू के तहत ₹2600 करोड़ के नए शेयर जारी होंगे।

Tonbo Imaging IPO: थर्मल इमेजिंग और डिफेंस सेक्टर से जुड़ी टेक्नोलॉजी सिस्टम बनाने वाली टोंबो इमेजिंग ने ऑफर फॉर सेल विंडो के तहत अधिकतम 1.22 करोड़ इक्विटी शेयर बेचने का प्रस्ताव पेश किया है। ययह आईपीओ 15-19 अक्टूबर के बीच खुला रहेगा।

Bonfiglioli Transmissions IPO: इटली के बोनफिगलिओली ग्रुप की भारतीय सब्सिडियरी बोनफिगलिओली ट्रांसमिशन का आईपीओ पूरी तरह से ऑफर फॉर सेल का होगा, जिसके तहत अधिकतम 4.32 करोड़ इक्विटी शेयरों की बिक्री होगी। यह इश्यू 15-19 अक्टूबर तक खुलेगा।

Sahajanand Medical Technologies IPO: पूरी तरह से ऑफर फॉर सेल इश्यू ला रही मेडिकल डिवाइस बनाने वाली सहजानंद मेडिकल का आईपीओ 15-19 अक्टूबर को खुलेगा। इसके तहत 1.39 करोड़ शेयरों की बिक्री होगी।

और भी कंपनियां कतार में

एवांडा इलेक्ट्रो (Avaada Electro) की योजना ₹7600 करोड़, पारस हेल्थकेयर (Paras Healthcare) की ₹1800 करोड़ और एनडीआर इनविट ट्रस्ट (NDR InvIT Trust) की ₹750 करोड़ का आईपीओ लाने की है। इसके अलावा गुजरात विक्ट्री फॉर्जिंग्स (Gujarat Victory Forgings) ने अधिकतम 1.97 करोड़ शेयरों का आईपीओ लाने का प्रस्ताव रखा है। इन चारों आईपीओ के तहत नए शेयर जारी होंगे और ऑफर फॉर सेल विंडे के तहत भी शेयरों की बिक्री होगी। इसके अलावा एसएफसी एंवयार्नमेंटल टेक (SFC Environmental Tech) की भी योजना आईपीओ लाने की है, जिसके तहत ₹150 करोड़ के नए शेयर जारी हो सकते हैं और ऑफर फॉर सेल विंडो के तहत 1.23 करोड़ इक्विटी शेयरों की बिक्री हो सकती है।

इस साल कैसा रहा आईपीओ मार्केट में हाल

जियो-पॉलिटिकल टेंशन के बीच मार्केट में इस साल तेज उठा-पटक रही और हाहाकार का माहौल बना हुआ है। इन सबके बीच इस साल 2026 के नौ महीनों में कंपनियों ने 96 कंपनियों के जरिए ₹1.1 लाख करोड़ से अधिक जुटाए। इसमें से 35 आईपीओ तो अकेले पिछले महीने सितंबर में आए थे।

जेएम फाइनेंशियल लिमिटेड में इक्विटी कैपिटल मार्केट्स की हेड और एमडी नेहा अग्रवाल का कहना है कि मार्केट की तेज उठा-पटक के बावजूद अच्छी क्वालिटी वाले शेयरों की मांग बनी हुई है। नेहा के मुताबिक सेकंडरी मार्केट में विदेशी निवेशकों का निवेश घटता-बढ़ता रहा लेकिन प्राइमरी मार्केट में देशी-विदेशी संस्थागत निवेशकों का सपोर्ट मिलता रहा।

नेहा का कहना है कि जिन कंपनियों की कमाई साफ तौर पर दिख रही है, जिनका कॉर्पोरेट गवर्नेंस अच्छा है और जो कैपिटल का सही इस्तेमाल कर रही हैं, उनमें निवेशकों की दिलचस्पी अधिक हो सकती है। वहीं साथ ही आगे उन्होंने यह भी कहा कि जिन कंपनियां का वैल्यूएशन सही रहेगी, उन्हें निवेशकों का शानदार रिस्पांस दिख सकता है और लिस्टिंग के बाद भी वे अच्छा परफॉर्म कर सकती हैं।

SMT IPO: Morgan Stanley और Ashish Kacholia के निवेश वाली कंपनी, 15 अक्टूबर को खुलेगा आईपीओ

डिस्क्लेमर: मनीकंट्रोल, नेटवर्क18 ग्रुप का हिस्सा है। नेटवर्क18 का नियंत्रण इंडिपेंडेट मीडिया ट्रस्ट करता है, जिसकी एकमात्र लाभार्थी रिलायंस इंडस्ट्रीज है। 

डिस्क्लेमर: यहां मुहैया जानकारी सिर्फ सूचना के लिए दी जा रही है। यहां बताना जरूरी है कि मार्केट में निवेश बाजार जोखिमों के अधीन है। निवेशक के तौर पर पैसा लगाने से पहले हमेशा एक्सपर्ट से सलाह लें। मनीकंट्रोल की तरफ से किसी को भी पैसा लगाने की यहां कभी भी सलाह नहीं दी जाती है।

VinFast takes first step toward entering Indian two-wheeler market

VinFast takes first step toward entering Indian two-wheeler market
An outdoor image showing large group of people standing together in front of the Vinfast headquarter

VinFast entered the Indian market in 2025, with activities spanning from the distribution, manufacturing and assembly of electric cars. Following this, the brand also showed some e-scooters at Auto Expo and then subsequently patented designs of some of them in our market, all hinting at plans to enter the huge Indian two-wheeler market. The signing of these letters of intent (LOIs) and partnering with numerous electric two-wheeler dealers now marks a new phase in the brand’s expansion in the Indian market.

  1. Partnered with 50+ electric two-wheeler dealers across 15 states
  2. Plans to establish showrooms across 34 cities
  3. Line-up likely to feature the recently patented Viper and Rasad e-scooters

Retail network expansion details   

Over 50 showrooms panned 15 states

Vinfast and its dealer partners will work together to establish 50+ electric two-wheeler showrooms across 34 cities in 15 states and territories. The locations that the company is targeting to establish a presence in first include Delhi, Rajasthan, Punjab, Madhya Pradesh, Chhattisgarh, Uttar Pradesh, Maharashtra, Gujarat, Karnataka, Telangana, Tamil Nadu, Kerala, Andhra Pradesh, West Bengal and Odisha. Through these partnerships VinFast plans to bring its electric scooter line-up to the country, though it hasn’t shared any timelines so far. Initial line-up expected to feature the Viper and Rasad electric scooters, following design patents filed in India earlier this year.

These selected cities and regions have large two-wheeler markets, providing significant room for the brand’s expansion. VinFast says in fiscal year 2025-2026 there were 21.41 million two-wheelers registered, of which electric vehicles accounted for only 6.54 percent. When VinFast does officially launch some of its models in our country, it will have to ward off stiff competition from both established legacy players as well as mould-breaking start-ups like Bajaj, TVS, Hero, Suzuki, Yamaha, Ather and River.

E3 Trion deliveries begin

E3 Trion deliveries begin
An indoor image showing the roll-out of E3 Trion from factory-line

Bengaluru-based electric mobility startup E3 Electric.Ai has started production of the E3 Trion electric scooter at its Hyderabad manufacturing plant and it will begin deliveries from today onwards.

  1. Available in two battery pack options across three variants
  2. The first 100 customers will receive optional extended warranty at an additional cost
  3. Prices start at Rs 1 lakh and go up to Rs 1.20 lakh (ex-showroom Bengaluru)

E3 Trion details  

Offered in 2.3kWh and 3kWh battery packs, with up to 165km IDC range

The E3 Trion is offered in three variants: C1, C1X and C2 and deliveries for the variants will begin in a phased manner. Across the three variants, the scooter will be available in two battery pack options 2.3kWh and 3kWh. The base C1 is offered in the 2.3kWh battery pack which is removable, whereas the C1X and C2 will comprise the 3kWh fixed battery pack. The C1, C1X and C2 have a claimed IDC range of 108km, 165km and 128km respectively. The scooters will feature 14-inch wheels at both ends

The first 100 E3 Trion customers will receive an extended warranty covering the battery pack and specified key parts for eight years or 1 lakh kilometres, whichever comes first. They will also receive one year of E3 Wingman roadside assistance as well. The combined offering is valued at Rs 6,500 for the C1 with its 2.3kWh battery and Rs 8,500 for the C1X and C2, which uses a 3kWh battery.

With pricing starting at Rs 1 lakh for the base C1, Rs 1.10 lakh for the C1X, and Rs 1.20 lakh for the top-spec C2 variant, the E3 Trion goes head-to-head with established family scooters like the Bajaj Chetak, TVS Orbiter V2, TVS iQube 3.1kWh, Ampere Nexus EX+, and Ather Konarc. 

September 2026 EV sales: Kia overtakes Maruti Suzuki for fifth spot

September 2026 EV sales: Kia overtakes Maruti Suzuki for fifth spot
September 2026 EV sales

Retail sales of electric passenger vehicles reached a new monthly high of 35,995 units in September 2026, up 94 percent from the same month last year and marking the fourth consecutive month with sales above 30,000 units. Tata Motors retained the top spot with 14,769 units and a 41 percent market share, while Kia moved ahead of Maruti Suzuki to take fifth place. H1 FY2027 EV sales now stand at 1,90,946 units, up 88 percent year on year, putting the industry within 29,971 units of the full-year FY2026 tally.

September 2026 EV sales

RankOEMSep 2026Sep 2025YoY changeMarket share
1Tata Motors14,7697,353101%41.03%
2Mahindra & Mahindra7,7793,97296%21.61%
3JSW MG Motor India5,2424,8009%14.56%
4Vinfast India2,963649,283%8.23%
5Kia India1,263598111%3.50%
6Maruti Suzuki India1,103––3.06%
7BYD India83673214%2.32%
8Hyundai Motor India79240496%2.20%
9BMW India50236936%1.39%
10Tesla29169322%0.80%
11Toyota Kirloskar Motor218––0.60%
12Mercedes-Benz India125137-9%0.34%
13Stellantis India554717%0.15%
14Volvo India452488%0.12%
15Porsche India11838%0.03%
16JLR India10–0.00%
17Audi India00–0.00%
18Lotus00–0.00%
19Rolls-Royce01-100%0.00%
Total 35,99518,52094%100%

Tata Motors

14,769 units, up 101 percent YoY

Tata Motors sold 14,769 electric passenger vehicles in September, up 101 percent from 7,353 units in the same month last year. This was the company’s highest monthly EV sales yet, surpassing the previous record of 14,388 units in July. September was also its fourth consecutive month with sales above 12,000 units.

Tata’s EV market share stood at 41.03 percent, up from 39.70 percent in September 2025. The Nexon EV remains its biggest volume driver, while the updated Tiago EV and Punch EV have also contributed to sales. During the month, Tata also extended its Battery-as-a-Service (BaaS) offering to the Nexon EV, Curvv EV, Sierra EV and Harrier EV.

Mahindra

7,779 units, up 96 percent YoY

Mahindra sold 7,779 EVs in September, up 96 percent from 3,972 units a year ago. The company retained second place in the electric PV market, although its sales remained below the monthly record of 8,131 units set in July. Mahindra’s EV market share increased to 21.61 percent from 21.44 percent in September 2025. The BE 6 and XEV 9e continue to make up its main EV offering, while the XEV 9S adds a three-row model to the line-up. Mahindra also recently extended its Battery-as-a-Service (BaaS) ownership programme to the XEV 9S and the XEV 9e.

JSW MG Motor

5,242 units, up 9 percent YoY

JSW MG Motor recorded 5,242 EV sales in September, up 9 percent from 4,800 units a year earlier and 6 percent from August. The company retained third place, although its market share fell to 14.56 percent from 25.91 percent in September 2025.

June remains MG’s best month so far, with 6,220 units. The Windsor EV continues to be its highest-selling model, while the recently launched Hector Tomahawk EV adds another model to its electric line-up. MG also has introduced a battery-as-a-service (BaaS) scheme for the Cyberster and M9 EVs.

Vinfast

2,963 units, up 49,283 percent YoY

Vinfast retained fourth place with 2,963 EVs sold in September, its highest monthly sales since entering India’s electric passenger vehicle market. Sales were up 32 percent from August, giving the company an 8.23 percent market share.

Vinfast currently has three models in its passenger vehicle portfolio: the VF6 and VF7 SUVs, and the VF MPV 7. Its cumulative H1 FY2027 sales stand at 10,826 units.

Kia

1,263 units, up 111 percent YoY

Kia moved ahead of Maruti Suzuki to take fifth place in September after recording 1,263 EV sales, up 111 percent from 598 units in September 2025. Sales also increased 48 percent from August’s 851 units. Kia’s EV market share increased to 3.50 percent, compared with 3.22 percent a year earlier. The increase follows the launch of the Syros EV in August. Kia also sells the Carens Clavis EV in India, while the EV6 and EV9 are sold as fully imported models.

Maruti Suzuki

1,103 units

Maruti Suzuki slipped to sixth place, with 1,103 e Vitara units sold in September. Sales declined 25 percent from August’s 1,472 units, although September marked the company’s sixth consecutive month with four-digit EV sales. The e Vitara has so far seen limited domestic availability as a larger share of production was allocated for exports. Maruti is expected to increase domestic production with the start of operations at its new manufacturing line at the Hansalpur plant in Gujarat.

BYD

836 units, up 14 percent YoY

BYD sold 836 EVs in September, up 14 percent from 732 units in the same month last year. Its market share stood at 2.32 percent, down from 3.95 percent a year earlier. June remains BYD India’s highest-selling month so far, with 938 units. Its current line-up includes the Atto 3, eMax 7, Seal and Sealion 7, while the company has confirmed plans to launch the Seal U later this year.

Hyundai

792 units, up 96 percent YoY

Hyundai sold 792 EVs in September, up 96 percent from 404 units a year ago. This was its second-highest monthly sales tally in FY2027, after 840 units in August. The company sold a total of 3,650 EVs in H1 FY2027, down 8 percent from the 3,951 units sold in H1 FY2026. Hyundai currently has the Creta Electric and Ioniq 5 in its EV line-up.

Toyota

218 units

Toyota recorded 218 units of the Urban Cruiser Ebella in September, its highest monthly sales of the electric SUV since launch. Sales were up 30 percent from the 168 units sold in August. The Ebella is Toyota’s version of the Maruti e Vitara and is positioned against models including the Mahindra BE 6, Vinfast VF6, MG ZS EV, Hyundai Creta Electric and Tata Nexon EV.

Luxury EV sales hit new high

Luxury electric passenger vehicle sales also reached a new monthly high of 975 units in September, up 60 percent from 608 units a year earlier. This surpassed the previous record of 853 units set in June. Luxury EVs accounted for 2.70 percent of total electric passenger vehicle sales in September.

BMW

502 units, up 36 percent YoY

BMW remained the largest luxury EV seller in September with 502 units, up 36 percent from 369 units a year earlier. Its market share stood at 51.48 percent, down from 60.69 percent in September 2025. BMW recently expanded its electric line-up with the i5 Long Wheelbase, which was launched in India in September at Rs 79.6 lakh. It is the company’s first locally produced electric sedan in India. BMW has also recently updated the i7 range, with 50 xDrive M Sport trim and the top-spec M70 xDrive.

Tesla

291 units, up 322 percent YoY

Tesla recorded 291 units in September, its highest monthly sales in India, up 322 percent from 69 units a year earlier. The increase moved Tesla ahead of Mercedes-Benz and into second place in the luxury EV segment for the first time. Its segment share rose to 29.84 percent from 11.34 percent in September 2025.

Mercedes-Benz

125 units, down 9 percent YoY

Mercedes-Benz sold 125 EVs in September, down 9 percent from 137 units in the same month last year. Its share of the luxury EV segment fell to 12.82 percent, from 22.53 percent a year earlier. The company’s highest monthly EV sales this year came in June, when it recorded 245 units.

Volvo 

45 units, up 88 percent YoY

Volvo recorded 45 EV sales in September, up 88 percent from 24 units a year earlier. Its market share increased to 4.61 percent, from 3.94 percent in September 2025.

Porsche

11 units, up 38 percent YoY

Porsche sold 11 EVs in September, up 38 percent from eight units in September 2025. It accounted for 1.12 percent of luxury EV sales during the month.

Simple OneS discontinued

Simple OneS discontinued
Simple OneS static

Simple Energy has discontinued the OneS electric scooter, phasing it out in favour of the recently launched Wave family scooter range. The company confirmed the decision, saying the Wave, which was launched last month with prices starting from Rs 1.10 lakh, is a purpose-built product for the segment the OneS served, and that buyers in that price band would naturally move towards it.

  1. Simple OneS discontinued; Wave to serve the same buyer segment
  2. OneS featured a 3.7kWh battery and 190km IDC range
  3. Existing OneS owners will continue to receive full service, warranty and spare-parts support

Simple OneS discontinuation details

Company cites portfolio consolidation and Wave’s stronger fit for the segment

In its statement, Simple Energy said: “With the launch of the Simple Wave, we now have a product purpose-built for the segment OneS served, one where most buyers are families looking for a practical, reliable everyday scooter. Our market research showed that Wave meets those needs more completely, and that customers in this price band would naturally move towards it. Consolidating our portfolio around Wave lets us focus our engineering, manufacturing and retail efforts where they deliver the most value to our customers. Existing OneS owners will continue to receive full service, warranty and spare-parts support across our network.”

The OneS was launched as part of the Simple One Gen 2 range at the start of the year at Rs 1.40 lakh, using a 6.4kW motor producing 52Nm and a 3.7kWh battery offering a claimed IDC range of 190km. At the time, it was the most accessible model in the Simple lineup, sitting below the One and Ultra variants. The Wave, which effectively now takes its place, starts at Rs 1.10 lakh for the base Wave S 2.2 variant and goes up to Rs 1.90 lakh for the Wave+, offering a wider range of battery and feature options across six variants.

Honda ADV160 deliveries delayed to 2027

Honda ADV160 deliveries delayed to 2027
Inside image showing the Honda ADV160's front left quarter.

The ADV160 was one of the ten two-wheelers showcased by Honda in July this year. Last month, the company announced prices and opened pre-bookings for it and the Rebel 300. At the time, it had also specified that deliveries for both will begin in October. Now, Honda has delayed the deliveries to next year.

  1. Localising and scaling up manufacturing appears to be a challenge at the moment
  2. ADV160 will be available via Honda BigWing and RedWing dealerships
  3. Pre-bookings are still open

Honda ADV160 is one of six brand-new products for India

Has better equipment and availability than its direct rivals

While there’s no official confirmation on the reason for the postponement, we believe it to be production-related. Honda had announced that manufacturing for all ten vehicles will happen locally. Six of those vehicles were brand-new to India (except for the CB350 series and the Rebel 500, which was previously a CBU). Even for a manufacturer of Honda’s scale, that is a challenge on various accounts, and that is perhaps why deliveries for the ADV160 have been delayed.

It is a little disheartening nevertheless, as the ADV160 was Honda’s foray into this segment of scooters in India, and its on-paper specs make it ready to take on the direct rivals, the Yamaha Aerox 155 and Hero Xoom 160. Honda chose to make the ADV160 available across both BigWing and RedWing, which immediately gave its scooter an advantage in terms of availability. On the other hand, the Aerox and the Xoom have limited availability. Yamaha only sells the Aerox out of its Blue Square dealerships, a smaller sub-network of its overall sales and service network. Hero has limited the Xoom 160 to its Premia dealerships, a different dealer network for its premium offerings.

Honda had announced the prices and opened pre-bookings for the ADV160 and Rebel 300 together. Currently, the Rebel 300 appears to be on track for Q3 2026 deliveries, and we hope it stays that way. Pre-bookings for the ADV160 are still open for Rs 5,000. Honda’s website says deliveries for the ADV160 will commence after the New Year, and we can only hope that means they will start in January 2027.

Ultraviolette Shockwave to get a new 100V architecture

Ultraviolette Shockwave to get a new 100V architecture
Outside render showing the UV Shockwave's front left quarter.

Bengaluru-based EV maker Ultraviolette Automotive has announced that its upcoming Shockwave ‘funduro’ motorcycle will use a new 100V architecture. In June, we reported that the Tesseract e-scooter, the brand’s first product to be confirmed to use a 100V architecture instead of the 60V architecture on the F77, was delayed. Now, Ultraviolette has mentioned both vehicles will launch by Q1 of 2027.

All prices mentioned are ex-showroom, Bengaluru.

  1. Shockwave and Tesseract were first revealed in March 2025, with a promised Q1 2026 delivery at the time
  2. The underlying architecture has changed since then
  3. Full specs and final prices for both are yet to be revealed

Ultraviolette Shockwave and Tesseract

Both the vehicles have changed markedly since the 2025 reveal

To recap, Ultraviolette had first launched the Shockwave and the Tesseract in March 2025 and at that time, deliveries for the Tesseract started at Rs 1.20 lakh – which has now become Rs 1.45 lakh, and the Shockwave started at Rs 1.50 lakh and has now become Rs 1.75 lakh. Both were supposed to launch in the quarter of 2026, but have been delayed. Ultraviolette finally cracked a solution by way of a new 100V architecture on the Tesseract, and they have now confirmed that the Shockwave will also use the same architecture. The revised delivery timeline is now Q1 2027. With a 20.4hp power from the 6kWh battery pack, the Tesseract was rated for an IDC range of 261km. The Shockwave made up to 14.5hp (its battery capacity is yet to be revealed) and an IDC range of 165km. Both vehicles were intended for different use cases, and garnered plenty of attention with their impressive spec-sheets and prices.

With the announcement, Ultraviolette has mentioned that manufacturing for the Shockwave is currently underway at their existing plant in Hosur, and that it will be available in both single- and dual-seat variation. Narayan Subramaniam, co-founder and CEO of Ultraviolette, claims that the move to the new architecture is an important step in realising their EV vision. Full spec-sheets for both vehicles are still awaited, with the company promising to reveal more details close to the launch. However, with all the changes both the vehicles have gone through since the unveil, it’s likely that they’ll carry a higher price tag when they become available for purchase.

Ather expects Konarc to make up over half of its sales in two years

Ather expects Konarc to make up over half of its sales in two years
Inside render showing the Ather Konarc's front right quarter.

Bengaluru-based EV maker Ather expects its newly launched Konarc electric scooter to drive more than half of its sales over the next two years. The company is positioning Konarc as a key product in its attempt to take electric scooters mainstream, with the focus less on taking customers from rival EV makers and more on converting buyers who would otherwise remain with internal-combustion engine scooters.

  1. Konarc has five variants, four of which are priced close to the Rizta
  2. Manufacturing and availability set to ramp up after the festive season this year

Konarc is expected to make (Ather) EVs mainstream

Konarc has higher profit margins than Rizta despite a lower price

“The role of Konarc is to take EVs mainstream, which, by definition, means that we’re looking at weaning people away from ICE,” said Ather’s chief business officer Ravneet Phokela. “This is not about getting market share from somebody else. It’s really about getting share from the ICE world.” For these customers, he added, Ather first needs to address fundamental considerations around comfort, safety and battery life before features and technology become the differentiators.

Despite a lower starting price of Rs 99,999, the Konarc also has better margins than the Rizta, according to Phokela. It is currently available in five variants (three S and two Z), with four positioned around price points similar to the Rizta’s. Ather has moved from an aluminium chassis for the 450/Rizta to a tubular steel chassis on the Konarc and from a two-stage belt transmission to a gearbox. The charger and motor controller have also been combined into a single unit.

The EL platform has allowed Ather to incorporate learnings from the 450 platform that couldn’t be introduced into that architecture. Phokela described the 450 platform as appropriate for the performance-oriented 450 but “overkill” for the family-focused Rizta, which had to use the existing architecture to meet its development timeline. The EL platform, in contrast, was conceived from the outset as a simpler architecture with a fundamentally lower cost structure.

Konarc is currently being supplied only in parts of North India, with Ather yet to open bookings across central and southern markets. Ather expects this constraint to ease after its new manufacturing facility is commissioned in December, although Phokela said it would take a few months thereafter to ramp up production. More markets are expected to be added progressively as supplies improve. The supply situation has also led Ather to pause showroom expansions for now. It currently has around 750 outlets, with expansion expected to gather pace again after the festive period. Over the next 18-24 months, Phokela sees around 2,000 stores as a target while maintaining that expansion will be calibrated to ensure dealers remain viable and profitable.

With inputs from Mukul Yudhveer Singh and Stephen Raj Antony