Page 16 - Electric Vehicles In India

Budget 2024: What did FM Nirmala Sitharaman say on green mobility and EV

The Centre proposes mandatory blending of natural gas for transport, building a strong electric vehicle ecosystem and encouraging entrepreneurship among youth in the Interim budget 2024 speech

Tesla to take shareholder vote on shifting incorporation to Texas: Musk

Tesla Inc will move immediately to hold a shareholder vote to transfer the electronic vehicle (EV) maker's state of incorporation to Texas from Delaware, Musk said

Odisha clears JSW's Rs 40,000 cr proposal to set up EV manufacturing units

The Odisha government on Monday approved 14 proposals including the JSW Group's plan to set up electric vehicles and component manufacturing units in Cuttack and Jagatsinghpur districts with an investment of Rs 40,000 crore, a senior official said. The proposals were approved at the Cabinet meeting chaired by Chief Minister Naveen Patnaik. "The Cabinet approved a special incentive package for the JSW Group's ambitious EV and component manufacturing projects at Naraj in Cuttack, and Paradip in Jagatsinghpur district", chief secretary Pradeep Kumar Jena told reporters. These projects, with a combined investment of over Rs 40,000 crore and employment potential of over 11,000, are set to usher in a new era of industrial growth and job creation in the state, he said. The JSW Group has proposed to set- up an EV & EV battery manufacturing project at Naraj, Cuttack. The company is also planning to set up an original equipment manufacturing (OEM) plant for EVs and components in the same ...

Tata Motors to commence EV production at Sanand plant from April 2024

Tata Motors plans to commence production of electric vehicles at the Sanand plant, acquired from Ford India, from April this year, as per a top company official. Tata Passenger Electric Mobility Ltd, a unit of Tata Motors, acquired the facility from Ford India for Rs 725.7 crore in January last year. "We are planning to commence electric vehicle production at Sanand with Nexon EV from April," Tata Motors Passenger Vehicles MD Shailesh Chandra told PTI. The company has already commenced production of internal combustion engine-powered versions of the Nexon at the manufacturing plant with an installed capacity of 3 lakh units per annum. It can be further scaled up to 4.2 lakh units per annum. Chandra said the company is also looking to produce upcoming models at the facility. When asked about the company's product pipeline, he said that Curvv EV would be introduced around the second or third quarter of this calendar year. "We are also hoping that by the fag-end of this year, we sh

EVs adoption key for transition to low carbon economy by 2047: DPIIT secy

The vision to make India a developed nation by 2047 includes a major shift towards electric vehicles, supported by tax incentives, production linked incentive schemes, and the mandatory provision of charging infrastructure, a top government official said on Monday. Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh said that the development and adoption of Electric Vehicles (EVs) play a pivotal role in India's transition to a low-carbon economy. "The comprehensive vision for 2047 includes a substantial shift towards electric vehicles across various segments, supported by tax incentives, Production Linked Incentive (PLI) schemes, and the mandatory provision of charging infrastructure," Singh told PTI. He said that a shift in the modal share of freight from road to rail will be an effective lever to decarbonise the freight transport sector. He added that the government's authorisation of 100 per cent Foreign Direct Investment (FDI) for

Zero-emission cars can tackle air pollution, cut oil imports: Tata Motors

Only zero emission cars can contribute towards a reduction in air pollution, cutting burgeoning fuel imports and attaining net zero targets, according to Tata Motors Passenger Vehicles Managing Director Shailesh Chandra. Amid demands from a certain section of the industry to cut taxes levied on hybrid cars, Chandra said that such vehicles do not align with the key national objectives of achieving net carbon-zero target, improving air quality levels, and reducing fossil fuel imports. He noted that hybrid and CNG technologies in cars help in improving fuel efficiency and meeting emission-related regulatory compliances but cannot be compared with pure battery electric vehicles. In an interaction with PTI, Chandra said that the government already supports hybrid vehicles in terms of lower taxation and there is no need to bring those at par with electric vehicles. He noted that hybrid cars cannot be compared with EVs as they essentially run on polluting "fossil fuel". Chandra said that

Govt may support initiatives to retrofit old vehicles into EVs: Report

The government may look for providing incentives or supporting initiatives to retrofit old vehicles into electric vehicles instead of scrapping them, a report said on Thursday. According to the joint report by management consultancy firm Primus Partners and ETB (European Business and Technology Centre), transitioning the internal combustion engine-powered vehicles to electric vehicles through retrofitting presents a spectrum of challenges. However, with a coordinated approach involving government initiatives, industry collaboration, and public engagement, these challenges can be effectively addressed and overcome, it said. India's Vehicle Scrappage Policy is aimed at phasing out old and unfit vehicles and replacing them with newer and more environment-friendly ones. This policy is governed by various factors including the fitness and emission levels of vehicles rather than solely their age. Commercial vehicles over 15 years and passenger vehicles over 20 years of age are subject t

EV leasing firm Alt Mobility raises $6 million to scale up operations

Electric vehicle leasing and lifecycle management platform Alt Mobility on Thursday said it has raised USD 6 million (nearly Rs 50 crore) in a funding round co-led by Shell Ventures, Eurazeo, EV2 Ventures and Twynam. UC Inclusive, Piper Serica, Pitchright and LetsVenture also participated in the round, which is a mix of equity and venture debt, the company said in a statement. The capital will be used for hiring engineering team to scale its Electric Vehicle (EV) asset management platform FleetOS, it added. It will also be used for setting up new verticals for fleets including drive-to-own model, parametric insurance, fleet depots and battery refurbishment unit, the company said. Besides, Alt Mobility said it plans to expand its presence in over 20 cities aiming to achieve an (Assets Under Management) AUM of USD 100mn in the next two years.

ESG, technology theme to dominate India Inc acquisitions in 2024

Streamlined regulatory approvals, sector-specific incentives would encourage firms to write acquisition cheques

Electric vehicle sales jumps 49% to 1.52 million units in 2023: Fada

Electric vehicle sales in India jumped 49.25 per cent year-on-year to 15,29,947 units in 2023, according to a data released by the Federation of Automobile Dealers' Association (FADA) on Tuesday. The EV industry had recorded a total sales of 10,25,063 units in 2022, as per the data. The two-wheeler sales grew 36.09 per cent to 8,59,376 units in the just-concluded year against 6,31,464 units in 2022, it said. The e-three-wheeler sales volumes surged 65.23 per cent year-on-year to 5,82,793 units from 3,52,710 units sold in 2022. E-commercial vehicles sales rose 114.16 per cent year-on-year to 5,673 units in 2023 compared to 2,649 vehicles in the preceding year. Electric passenger vehicle sales grew 114.71 per cent to 82,105 units last year against 38,240 vehicles in 2022, as per the FADA data.

Tata Motors introduces first pure EV architecture called 'acti.ev'

"Punch.ev will be the first product based on this pure electric architecture, which will spawn a variety of products with multiple body styles and sizes," the company's statement noted

Electric vehicle penetration likely to fall short of govt's 2030 plan

Subsidy reduction has hit industry's estimate of 1.2 mn E2W sales in FY24

'EV sales in India to grow at 35%, annual volumes may cross 27 mn by 2032'

Electric Vehicle (EV) sales in India is expected to grow at a Compound Annual Growth Rate (CAGR) of 35 per cent with annual volumes likely to touch 27.2 million units by 2032, a report said on Friday. The report, 'India Electric Vehicle Market Overview 2023', by energy advisory, software and services firm, Customized Energy Solutions, also predicts a record-breaking sale of 1.7 million units in 2023. EV sale in India is projected to touch about 27.2 million units by 2032 and with a CAGR of 35 per cent from 2023-2032 under business-as-usual conditions, according to the report. The driving force behind this is a confluence of factors, including the availability of the FAME-II subsidy, which has proven to be a catalyst, with a substantial budget allocation of USD 1.2 billion assigned to subsidise various EV segments, it said. The central government's commitment to fostering an indigenous EV ecosystem is evident in the approval of a USD 3.5-billion Production-Linked Incentive (PLI) sch

FAME III: India to replace 800k diesel buses with electric over 7 years

To drive EV adoption in India, the government is devising a plan to replace nearly one-third of diesel buses on roads

EV industry set to end its best sales year in spite of subsidy cuts

This year marked a reduction in subsidies for electric two-wheelers (e2W), a category that constitutes around 55% of the overall EV sales

Automakers gear for moderate sales after 2023, ready for more EV launches

After posting record-breaking volumes in 2023, Indian automobile industry is driving into the new year aware of a lurking moderation in sales growth but ready to embrace green technologies, led by electric vehicles. Passenger vehicle sales are expected to cross 40 lakh units this year and prices are set to rise from January. Veteran industry leader and Maruti Suzuki India Chairman RC Bhargava said the sales are expected to moderate a bit next year compared to 2023. He noted that the revival of the small car segment is necessary for the faster growth of the industry. The share of entry-level cars in the passenger vehicle sales which stood at around 14 per cent in 2018-19 has reduced to around 4 per cent in the April-October period this year. "As far as Maruti Suzuki is concerned, I believe that we will have higher growth than the industry," Bhargava told PTI. While being positive on the growth of Electric Vehicle (EV) sales next year, he noted that the focus should be towards all

EV sales likely to reach 10 mn annually by 2030, create 50 mn jobs: Gadkari

India is likely to see 1 crore Electric Vehicle (EV) sales a year and the segment is expected to generate about 5 crore jobs by 2030, Union minister Nitin Gadkari said on Friday. Addressing the 19th EV EXPO 2023, Gadkari, "As per the Vahan database, 34.54 lakh EVs are already registered in India." The Union Road Transport and Highways minister asserted that India has the potential to become number 1 EV maker in the world and the government is committed to making India a self-reliant country in clean energy production and mass application. Gadkari said the government has also permitted retrofitting of existing polluting vehicles into hybrid and fully EVs. The regulations have been finalised and technology demonstrations done successfully, he added. He said the government intends to shift public transport and logistics to EVs.

Extend FAME-II, set deadline for polluting vehicles: Parliament committee

To maximise the environmental decarbonisation benefits of EVs, the establishment of solar-powered EV charging stations is essential, the Committee said

Delhi nears 5,000 EV charging, battery-swapping facilities: Discoms

The EV charging infrastructure is expanding rapidly in Delhi with power distribution companies setting up over 4,500 charging points and battery-swapping facilities across the city and hundreds more to be installed by the end of the current fiscal, discom officials said on Wednesday. The number of charging points and battery-swapping facilities in the city will cross the 5,000-mark in the next few months, they said. According to the latest report of the Central Electricity Authority (CEA), Delhi consumes 55 per cent of the power consumed at EV charging points across the country. The BSES discoms -- BYPL and BRPL -- have installed over 3,100 charging points and battery-swapping stations at more than 1,200 locations across South, West, East, and Central Delhi. These include 1,260 (40 per cent) private, 1,220 (39 per cent) public and 485 (15 per cent) captive category, said a spokesperson of the company. In the current financial year, BSES will facilitate installation of over 1,200 E

Motovolt Mobility, German firm Swobbee tie up for EV stations in India

Electric two-wheeler maker Motovolt Mobility and German climate-tech firm Swobbee have joined hands to establish 200 battery-swapping stations across India, officials said on Wednesday. This partnership aims at boosting the affordability of two-wheeler EV owners, an official said. The initial phase will see the installation of at least two pilot stations by March 2024, one each in Delhi and Kolkata, funded by Motovolt. "Making EV ownership affordable is crucial for driving growth, especially with the uncertainty surrounding the continuation of subsidies under the FAME 3 policy. Battery swapping stations address this issue, as batteries contribute significantly to the total cost, around 40 per cent," Motovolt Mobility CEO Tushar Choudhary said. Choudhary also stated that Motovolt will initially fund the pilot project, and both partners will then explore a deeper collaboration, potentially through a joint venture, to roll out the remaining 198 stations within the next two years. Th