Page 10 - Electric Vehicles In India

Mahindra & Mahindra unit launches two new electric SUVs; share rises 3%

The uptick in the M&M share price came after the company announced that its subsidiary, Mahindra Electric Automobile Limited (MEAL), has launched two new electric Sports Utility Vehicles (SUVs)

EV leasing firm Alt Mobility raises $10 mn from Eurazeo, other investors

Commercial EV leasing and asset management firm Alt Mobility on Wednesday said it has secured USD 10 million funding in a Series A round led by European VC and PE funds and existing investor, Eurazeo. The latest funding round also saw the participation from other investors including Shell Ventures, Twynam Earth Fund and EV2 Ventures, Alt Mobility said. The fresh capital infusion would help the company in its next phase of growth including expanding the capabilities of its digital asset management platform and driving standardization of battery technology, among others, it said. "Alt Mobility has secured USD 10 million in a Series A funding round led by existing investor Eurazeo, and (it also) saw participation from other existing investors including Shell Ventures, Twynam Earth Fund and EV2 Ventures," the company said. Alt Mobility currently owns a fleet of 10,000 vehicles across 20 cities in India leased to fleet operators and individual drivers. The company said it is ...

India needs up to $30 bn for EV charging infra to double growth pace: IESA

India needs investment worth USD 20-30 billion in the EV charging infrastructure to double the pace of growth of the segment, industry body IESA said on Thursday. It is a very niche segment which has just started picking up in the country, India Energy Storage Alliance (IESA) President Debi Prasad Dash said. Sharing his estimates, Dash said the EV charging infrastructure segment is growing at a rate of 25-30 per cent currently in India. To double this growth, investments worth USD 20-30 billion would be required, he said at the 'IESA India EV Fast Charging Summit' in the national capital. On PM E-Drive Scheme, Dash said "We (industry) all are waiting for the scheme to be floated. A few of the things the government is considering before outing the full scheme is they are trying to (figure out) state-wise demand allocation, considering the density of the vehicles in different localities in states and cities." It will give a boost to the EV Charging space and adoption of EVs in the .

Bhavish Aggarwal-led Ola Electric plans restructuring; to impact over 500

The restructuring looks to enhance operational efficiency and improve profit margins as the company works towards achieving profitability

FICCI calls for GST cut on EV batteries and charging to boost growth

EV Committee chair points out that while EVs are taxed at 5%, batteries and charging services face an 18% GST rate

Industry needs to drive in more EVs to enhance adoption: Advisor to PM

The automotive industry needs to do more in terms of driving in new electric cars to enhance customer response enabling higher adoption of such models, Advisor to Prime Minister at PMO Tarun Kapoor said on Tuesday. Speaking at the FICCI National Conference on Electric Vehicles here, he noted that the government on its part will look at all aspects, including taxation issues so that the industry remains viable. "In four-wheelers, what I think is that industry itself has to play a much, much larger role than the government because we need more products. We need better products, and we need more publicity," Kapoor said. He noted that the government is working towards enhancing charging infrastructure with even the PM-E Drive scheme laying a lot of emphasis on it. "But on product and on getting more customer satisfaction and to give more choice, the industry has to plan a much bigger role," Kapoor said. On taxation issues, he stated: "So from the government, we can't really commit ...

Enforce Odd-Even rule to encourage people to shift to clean fuels, EV: IBA

Indian Biogas Association has suggested enforcement of the odd-even rule for four wheelers in Delhi NCR to check air pollution and encourage people to shift to electric vehicles or those based on compressed biogas (CBG) or natural gas. Under the Graded Response Action Plan (GRAP) 4 (with air quality index of over 450) measures, odd/even rule for four wheelers is imposed. The Commission for Air Quality Management (CAQM) has already imposed GRAP 3 measures with the air quality remaining in the "severe" category. Taking with PTI in an interaction, Indian Biogas Association (IBA) Chairman Gaurav Kedia said, "We recommend implementing the Odd-Even Rule for Petrol and Diesel Vehicles in the coming months so that a good impact can be seen for the air pollution levels in Delhi, and subsidy on EVs and CNG/CBG vehicles, as this will compel the citizens to shift to greener fuel alternatives. The air pollution situation in Delhi NCR worsens every winter, with the seasonal air quality index ...

Royal Enfield reveals first EV brand Flying Flea-C6, to hit markets next yr

Royal Enfield, a division of Eicher Motors, forayed into electric bike space on Monday with the unveiling of its first model under the all-new Flying Flea brand

Toyota to Launch Maruti Suzuki eVX-based Electric SUV in India by 2025

EV unit and platform used for this model were jointly developed by SMC, TMC, and Daihatsu Motor Corporation, leveraging each company's strengths

Bengaluru startup EMOBI unveils low-speed 2W with multipurpose battery

With this launch, EMOBI aims to capture 20-25 per cent of the market share in India's B2B last-mile delivery sector over the next three years

Pension for gig workers; choosing an EV: Top personal finance stories

This week we write about how white-collar freelance professionals can build a retirement corpus and what to look for in an electric car

Ola Electric's Bhavish Aggarwal and his EVs need to be less combustible

An online spat between Aggarwal and Kunal Kamra, a popular Indian stand-up comic, has had India riveted

Will stick to electric cars in short term: BYD India's Rajeev Chauhan

BYD India on Tuesday launched the electric multi-purpose vehicle eMax 7 in India at a starting price of Rs 26.9 lakh (ex-showroom)

Servotech Power gets order to set up 9 EV charging stations in Maharashtra

Servotech Power Systems on Monday said it has secured an additional order in Maharashtra to set up nine EV charging stations. With this, the total number of EV charging stations set up by the company will reach 29. The additional orders have been secured from Nashik Municipal Corporation (NMC), the company said in a statement. "Previously, the company had received an order from NMC which involved supplying, commissioning, and constructing 20 EV charging stations throughout the corporation area," it said. This order will meet the growing need for convenient electric vehicle (EV) charging infrastructure and ensure consumers a clean energy supply for intercity and interstate travel, Sarika Bhatia, Director of Servotech Power Systems, said. Servotech Power Systems is a listed entity that develops tech-enabled EV charging and solar solutions.

Govt launches PM E-DRIVE subsidy scheme for EVs with Rs 10,900 cr outlay

The government on Tuesday launched the PM E-DRIVE Scheme, with an outlay of Rs 10,900 crore for faster adoption of electric vehicles, setting up of charging infrastructure and development of EV manufacturing ecosystem in India. The scheme shall be implemented from October 1, 2024 to March 31, 2026. The EMPS-2024 (Electric Mobility Promotion Scheme) being implemented for the period April 1, 2024 to September 30, 2024 is being subsumed under the PM E-DRIVE scheme. The subsidy under the PM E-DRIVE scheme for electric two-wheelers has been fixed based on battery power at Rs 5,000 per kilowatt hour but the overall incentive will not exceed Rs 10,000 in the first year. In the second year, it will be halved by Rs 2,500 per kilowatt hour, and the overall benefit will not exceed Rs 5,000. Currently, popular electric scooter makers like Ola, TVS, Ather Energy, Hero Vida (Hero Motocorp) and Chetak Bajaj have battery capacities of 2.88-4 kWh in price range of Rs 90,000 to Rs 1.5 lakh. Address

Hybrid car sales soar as global policies boost electric vehicle market

Since 2021, hybrid vehicle sales have been growing steadily in several markets, including China, Japan, Korea, the UK, France, and the US

Ola Electric plans 10,000 outlets by 2025, targeting smaller cities

Ola Electric plans to open 10,000 sales and service outlets by 2025 - a move aimed at boosting its presence in smaller cities across India

'JSW group not withdrawing Rs 40,000 crore EV project from Odisha'

The JSW group is not "withdrawing" its proposed Rs 40,000 crore electric vehicle (EV) and battery project from Odisha, a senior company official said on Tuesday. The company's announcement comes after a section of media reported that the JSW group plans to shift its EV and battery project from the eastern state to Maharashtra. Asked about media reports, Ranjan Nayak, executive vice president of corporate strategy, office of chairman and managing director said, "We are not withdrawing the EV and battery project from Odisha". The JSW group had on February 10, 2024, signed a memorandum of understanding with the Odisha government for establishment of an integrated electric vehicle and EV battery manufacturing project at an investment of Rs 40,000 crore in the state. At Naraj in Cuttack district, the JSW group had planned to set up an EV vehicle and component manufacturing plant, while at Paradip in Jagatsinghpur district, it proposed to establish a copper smelter and lithium ...

JSW group moves Rs 40,000 crore EV initiative to Maharashtra from Odisha

The JSW Group is relocating its Rs 40,000 crore EV and battery project from Odisha to Maharashtra, seven months after finalising an agreement with the state government

Delhi to organise 'e-vehicle parade' in October to boost usage, sales

Delhi's environment department will organise an 'e-vehicle parade' at Rajghat in early October, aimed at encouraging the purchase and use of electric vehicles (EVs) in the city. Officials anticipate that over 500 EVs will participate in this event, with a registration link for interested owners to be announced shortly. A senior official from the environment department said that a tender has been issued for the event, which is expected to cost around Rs 5.76 lakh. Bids will be accepted until September 30, and the parade will be conducted within five days of awarding the tender. "The primary objective is to promote EV usage in Delhi and raise awareness about their benefits. We encourage as many EV owners as possible to join the parade," an official said. "Transitioning to electric vehicles will contribute to reducing vehicular pollution in the capital," the official stated. Environment Minister Gopal Rai, who recently resumed his role following the formation of a new cabinet, emphas