Page 7 - Electric Mobility

FAME investigation paves way for indigenous EVs, fair competition: OEMs

Disbursement of halted claims will help drive sales in the festive season

PMI Electro Mobility signs pact with REC for Rs 480 cr financial assistance

Electric commercial vehicles manufacturer PMI Electro Mobility on Saturday said it has signed an agreement with public-sector enterprise REC Limited to provide finance for its commercial EVs. PMI Electro Mobility MD Satish Jain said the signing of the memorandum of understanding (MoU) took place during the "Green Finance" Summit organised by REC Limited (formerly Rural Electrification Corporation) on the sidelines of the Clean Energy Ministerial and Energy Transition Working Group Ministerial meeting, which culminated on Saturday. As a part of the MoU, PMI will have the ability to avail Rs 480 crore of financial assistance from REC in the form of debt for funding requirements. The "Green Finance" Summit hosted by REC Limited, in conjunction with the Indian Government's G20 Presidency, presented a unique platform for industry leaders, policymakers and stakeholders to collaborate and forge meaningful partnerships that advance the nation's transition towards clean energy and green ...

Subsidies should be cut gradually: Hero Electric MD Naveen Munjal

In June, electric two-wheeler sales decreased in India by 56.3 per cent month-on-month (m-o-m) to 45,806 units, primarily due to the aforementioned price hikes

UK set to win battle for electric Jaguar Land Rover battery plant

Tata has chosen a site in Somerset, west England, owned by Salamanca Group, an investment and advisory business with roots in real estate, people familiar with the plans said

Made in India Tesla for Rs 20L? Company in talks with govt to set up plant

Tesla already has a substantial presence in China, and now, the company is looking at India as an export base to supply cars to other markets in the Indo-Pacific region

Auto component makers stepping up investments in green mobility business

In FY23, e-two-wheeler (E2W) penetration jumped to 4.5 per cent from 1.9 per cent in FY22, data released by the Federation of Automobile Dealers Associations shows

Huge opportunity in electric tractors, trucks: Tube Investments of India

Engineering company Tube Investments of India Ltd is looking to tap a huge opportunity for electric tractors in agriculture and e-trucks in the commercial vehicles as it eyes a larger presence in the electric vehicle segment. The company, part of the diversified conglomerate Murugappa Group, is currently engaged in the manufacturing of e-tractors at its facility in Apex Park in Chennai and for e-trucks in Manesar in Haryana, Executive Chairman M A M Arunachalam said. "The automotive sector in India is shifting towards sustainable mobility. Environmental mandates to reduce CO2 emissions are driving countries towards the adoption of cleaner, non-fuel, non-polluting modes of transportation," he said. Electric vehicles have emerged as the forerunner of the clean and green transportation mission with wide global adoption, the senior official said. Tube Investments of India forayed into the electric vehicle business with the acquisition of 65.2 per cent stake in IPLTech Electric Pvt Ltd

10% of country's fuel pumps now offer EV charging facilities, IOCL leads

5,600 IOCL pumps offer EV charging facilities which come at about 15 per cent of its total 36,400 fuel pumps across the country

Gogoro gets Maharashtra nod to set up $1.5 bn smart battery infra

The proposed 'Ultra Mega Project' deal includes financial incentives and support from the Maharashtra government

TVS, Zomato form alliance to ensure greener, cheaper last-mile mobility

As a part of the partnership, TVS will develop electricity-powered two-wheelers which will be used by Zomato delivery personnel

FAME subsidy cut, subsequent price hike take e-scooter sales down 61% MoM

The dip in sales has come after electric two-wheeler manufacturers hiked the prices of their products by 15-18 per cent

We will bring vehicles that will run 100% on ethanol soon: Nitin Gadkari

Toyota will launch Camry in August this year which will run 100% on ethanol. The car will also generate 40% electric power

Chandigarh to stop registration of non-electric two-wheelers by July

The policy is part of the Chandigarh administration's plan to reduce pollution and move towards green mobility

FAME-II subsidy cut likely to disrupt EV sector growth: SMEV to NGT

Seeks support for a Green Tax on ICE 2-Wheelers

Amid India's EV buzz, Kolkata's electric trams struggle to keep rolling

The tram service has shrunk due to work on the metro, reconstruction or maintenance of bridges, traffic, and state policies

Centre to float tender for 3,500 electric buses in nine big cities

Fund diversion and savings on previous order to help meet the subsidy cost

How FAME scheme changes impact electric vehicle fortunes in India

Sharp cutbacks in the incentive scheme is likely to put the brakes on this market

Hero MotoCorp hikes price of e-scooter VIDA V1 Pro by Rs 6,000 from June 1

The country's largest two-wheeler maker Hero MotoCorp has increased price of its electric scooter VIDA V1 Pro by around Rs 6,000 in order to offset the impact of curtailed subsidy structure on electric two-wheelers coming into effect from June 1. The company's flagship electric scooter VIDA V1 Pro will now be available at Rs 1,45,900 including FAME II subsidy and portable charger. This is an increase of around Rs 6,000 from the earlier pricing. When contacted, a company dealer confirmed the development and noted that the two-wheeler maker has absorbed the major impact of the reduction in subsidy under FAME II effective June 1, and passed on only a small fraction of the additional cost to the prospective buyers. A comment from the company could not be ascertained immediately. For electric two-wheelers, the maximum subsidy cap, which was 40 per cent of the ex-factory price, has been reduced to 15 per cent by the Ministry of Heavy Industries. As per the industry sources, the FAME II

EV2W prices shocks prospective owners after govt revises FAME II subsidy

While they are powered by electricity, their new prices are giving shocks to the prospective buyers.

E2W firms look to rejig prices and features to cope with subsidy cut

Of the 300-odd e2W makers in India, 28 were registered on the FAME portal.