Page 19 - Electric Vehicles In India

CDIL 1st Indian firm to make silicon carbide chips, starts unit in Mohali

CDIL Semiconductors has also partnered with the government's Semi-Conductor Laboratory (SCL) in Mohali

Demand for EV charger to grow at 65% CAGR to reach 3 mn by 2030: Report

The domestic demand for EV chargers is likely to grow at a CAGR of 65 per cent to reach the 3 million unit mark by 2030, according to a report. More than 17,000 units of electric vehicle (EV) chargers were sold in 2021, the joint report of Customized Energy Solutions(CES) and India Energy Storage Alliance (IESA) said. The Indian EV charger market is poised to expand at an impressive CAGR of 65 per cent between 2022 and 2030 to achieve annual sales of 3 million units to meet the requirement of chargers to meet the national EV scenario (NEV) by 2030, the report titled 'India Electric Vehicle Charging Infrastructure & Battery Swapping Market Overview' said. The demand will be driven by government initiatives and private investments, it added. Rahul Walawalkar, founder and president, IESA, and MD of Customized Energy Solutions India, said: "India's electric revolution is gaining momentum at an astonishing pace. Government policies and private investments are propelling us towards a ...

India's electric vehicle sales zoom past 1 million in 2023, shows data

The two-wheeler segment accounted for 56 per cent of the EVs sold in 2023, followed by three-wheelers and passenger vehicles

Delhi govt to allow diesel, petrol vehicles to be converted into EVs

The process of converting internal combustion engine (ICE) vehicles into an EV involves changing the original engine and other related components and installing a new alternative powertrain

Development of sustainable mobility ecosystem need of the hour: PM to Siam

PM Modi also said that India's auto industry has been both a catalyst as well as a beneficiary in its value-creation cycle

'Payment security mechanism, subsidies to help electric mobility growth'

A well defined payment security mechanism for long-term contracts would help support large-scale rollout of electric buses in the country, according to Ashok Leyland Chairman Dheeraj Hinduja. In an interaction with PTI, he also emphasised on the importance of subsidies in faster adoption of electric mobility in India. "So I would say two areas -- one, the subsidies or whatever benefits that the government can consider for promoting electric vehicles is of course welcome, and then some type of payment security mechanisms are also required. It would help the industry to grow at a faster pace," Hinduja said. He was replying to a query to list initiatives which could aid in the growth of electric vehicles in the country. Hinduja said the government is already looking into some form of security of its payment structure. "When you're looking at these GCC (Gross Cost Contracting) contracts for 10-12 years, the OEMs do want some security of how to ensure that the payments will happen durin

India charges ahead on the global electric vehicle map, shows Gartner data

Electric buses and vans will record 0.2 million shipments each in 2023, according to the forecast for this year

Temasek leads $140 mn Ola Electric funding at $5.4 bn valuation: Report

Ola Electric, founded by Bhavish Aggarwal and backed by Japan's SoftBank Group, has become India's e-scooter market leader with a 32% share

JSW Group may acquire Ford Motor's Chennai plant to manufacture EVs: Report

The talks to acquire the Ford plant in Chennai started a couple of months ago and are now in an advanced stage, a report said on Wednesday

Economies of scale to take electric-bus penetration above 70% by 2030

India is expected to become one of the world's major electric vehicle markets by 2030, growing at a 49 per cent compound annual growth rate (CAGR) between 2021 and 2030

FinMin considering proposals to include EVs under priority sector lending

The move will reduce the cost of finance and also promote and accelerate the penetration of EVs in the country

Centre considering inclusion of EVs in priority sector lending category

The government is considering a proposal to include electric vehicles (EVs) in priority sector lending category, a senior official said on Saturday. "We have received a representation to include EV in priority sector. We will look at reworking the priority sector lending requirements for banks," the official said adding the issue has to be discussed with the Reserve Bank of India. As per RBI guidelines, it is mandatory for banks to extend 40 per cent of their adjusted net bank credit to priority sector. Currently, seven sectors -- agriculture, Micro, Small and Medium Enterprises (MSME), export credit, education, housing, social infrastructure, and renewable energy -- are considered for priority sector lending (PSL). Inclusion of EVs in PSL has the potential to increase investor confidence by providing a market signal of ongoing government commitment to the sector. It can also ensure a swift and equitable transition by providing a mandate for financial institutions to direct credit

SMEV offers last ditch solution to government to resolve fame 2 issue

First suggestion, if accepted, would ensure that problems arising from the pandemic or other factors would no longer be considered violative, necessitating the repayment of subsidies to the government

Revolt Motors launches limited edition RV400 electric motorcycle: Details

The limited edition RV400 is available in stealth black colour and comes with high-end golden upside-down front forks

Adani TotalEnergies partners with Evera Cabs for developing charging hubs

Adani TotalEnergies E-Mobility Limited (ATEL) will set up EV charging infrastructure with all-electric cab aggregator, Prakriti E-Mobility (Evera), the company said on Tuesday. "The collaboration will feature an integration of 200 EV charging points super hub in Delhi. This strategic partnership will be scaled up pan-India to encourage decarbonized mobility," it said in a statement. Adani TotalEnergies E-Mobility Limited (ATEL) is a wholly-owned subsidiary of Adani Total Gas Limited, the equal joint venture of Adani Group and French energy giant TotalEnergies. ATEL is setting up EV charging ecosystem with a wide range of charging points catering to B2C and B2B customers. The partnership with Evera comes at a time of rising EV demand, though charging infrastructure still remains scant. It will "help catalyse India's 2030 decarbonization target, supported by a rising inclination towards electric vehicles in the cab-hailing segment," the statement said. ATEL and Evera hope to bridge

Godawari Electric Motors lines up Rs 100 cr over 3 yrs for biz expansion

Godawari Electric Motors on Tuesday said it plans to invest Rs 100 crore over the next three years to develop new electric products and bolster its sales infrastructure across the country. The Raipur-based firm on Tuesday forayed into the electric two-wheeler segment with the launch of Eblu Feo tagged at Rs 99,999 lakh. "We have invested around Rs 100 crore on the business so far. Over the next three years we plan to invest another Rs 100 crore on new product development, enhancing quality and expansion of sales infrastructure, " Godawari Electric Motors CEO Hyder Khan told PTI. He noted that with the launch of the Eblu Feo, the company now also plans to ramp up its sales network across the country. "Wth the new product on the road, we will go all out now and will have 50 dealers by September-end. By the end of this fiscal we aim to have 100 dealers," Khan said. Godawari Electric Motors can produce around 4,000 e-scooter units per month at its Raipur plant, he noted. By the end o

Porsche expects around 80% sales in India from EVs by 2030: Senior official

German luxury sports car maker Porsche AG expects around 80 per cent of its sales in India to come from fully electrified vehicles by 2030 and is lining up three such new vehicles to be introduced here early next year, a senior company official said on Tuesday. The company, which sells a range of luxury sports cars and SUVs priced between Rs 88 lakh and Rs 4.26 crore, is targeting GenZ customers, start-up entrepreneurs and women as it seeks to strengthen brand presence in India, Porsche AG Executive Board Member for Sales and Marketing Detlev von Platen told PTI in an interview. Porsche, however, has no plans in the short to medium term to locally assemble its vehicles in India, as it is focusing on establishing and strengthening the brand in India. "We announced that we want to be net carbon neutral by 2030. So, coming from a car manufacturer, which is more sporty-oriented, it was interesting to hear (that). By 2025, 50 per cent of our cars will be electrified, and by 2030, we expe

Ather Energy to make net profit in 24 months, plans to raise more funds

The company is raising funds to help set up a new factory and strengthen R&D

Mercedes-Benz India expects EVs to contribute 25% of its car sales in 3-yrs

: Betting big on the growing electric vehicle market in India, luxury car maker Mercedes-Benz is expecting its EV portfolio (present and future) to make up 25 per cent of its total car sales in the next three years, growing from the current levels of three to four per cent. Mercedes-Benz on Thursday launched the GLC, its new petrol/diesel SUV, in Hyderabad. Managing Director and CEO of Mercedes-Benz India Santosh Iyer said the automaker is planning to launch three to four EVs in the coming 12 to 18 months in India. For India as well we feel that there would be a rapid adoption as and when new cars launch, and at this stage we are looking at three to four new EVs in the next 12 to 18 months time. So, slowly but surely we should increase penetration. And in the next three years we feel that 25 per cent of our sales would be EVs in India as well, Iyer told PTI. According to him, it would be easier for Mercedes-Benz car users to adopt electric vehicles as most of them already have ...

Top four electric two-wheeler makers give refund of Rs 10 crore to buyers

An investigation by the Centre found that some electric two-wheeler manufacturers were billing their charger separately to their electric scooters to cut the reported sale price of their products