Page 19 - Electric Vehicles In India

Production of 50 GWh battery cells to start in early 2024: MHI Minister

Currently, batteries are only assembled in India, with cells imported primarily from China, Taiwan, and European nations

Govt mulling another PLI scheme for batteries to bring down cost: Singh

The government will bring out another production-linked incentive scheme for batteries to bring down cost and boost the adoption of electric vehicles in India, union minister R K Singh said on Monday. Speaking at the EV (electric vehicles) Ready India Dashboard of OMI Foundation, the Union Power and New & Renewable Energy Minister said, "We are coming out with another production-linked incentive (PLI) to increase the volumes (of storage or battery)." He was of the view that the price of storage will come down with (higher) volumes. "Price of storage will come down only if you add volumes. That is why there is a production-linked incentive (PLI) for storage," he said. He pointed towards limited battery manufacturing capacity in the world and termed it as a reason for high prices. The minister opined that higher cost and lower driving range are issues in adopting EVs. The central government had approved the (PLI) scheme for manufacturing advanced chemistry cell (ACC) batteries at an

Rush hour: Why automakers are pouring Rs 1.75 trn into their factories

One reason for the rush to increase capacity is that automakers do not want to miss the bus on electric vehicles

Govt mulls subsidising carmakers investing in local EV production

The government plans to extend incentives to carmakers based on the investments they make to manufacture cars locally, an official aware of the development said

SUN Mobility partners Bluwheelz to deploy over 16,000 EVs in 1 year

Battery-swapping solutions provider SUN Mobility on Thursday said it has partnered with electric vehicle fleet operator Bluwheelz to deploy over 16,000 EVs in the next 12 months. Under the partnership, the companies are looking to deploy over 15,000 electric two-wheelers and 1,000 electric three-wheelers in all metropolitan cities through the next 12 months, SUN Mobility said in a statement. Besides, the company also plans to retrofit over 1,000 existing 4-wheeler loader fleets of BluWheelz into electric over the next 12 months, it added. "We are now doing more than 1 million swaps every month and with partners like Bluwheelz we will empower more people to choose sustainable transportation options, making our cities cleaner and more liveable," SUN Mobility CEO Anant Badjatya said. Bluwheelz Chairman Sanjiv Gupta said, "Our collaboration with Sun Mobility perfectly resonates with our mission to pave the way for a more sustainable and eco-friendly future in the realm of mid-mile and

Ather Energy planning to set up new manufacturing plant to expand capacity

Apart from this, Ather Energy is also looking at the possibility of expanding to the global markets

M&M eyeing global expansion, diversifying ops to boost revenue growth

M&M's product line has reached a stage of maturity where we can go and compete around the world, a company official said

Indian EV charger maker Exicom Tele-Systems files for $48 million IPO

The company proposes to utilise the proceeds for partially financing the cost of setting up production lines at its planned manufacturing facility in Telangana

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