Page 40 - Electric Vehicles

EV growth faces charging woes even as carmakers push ahead with launches

India's charging infrastructure lags behind EV demand despite policy incentives

Raising taxes on EVs will make electrification path difficult: Kia India MD

Increase in tax on electric vehicles will make it difficult for the electrification journey of the Indian automotive industry, Kia India Managing Director and CEO Gwanggu Lee said on Thursday. The company, which unveiled its new company SUV Syros, is looking at around 17 per cent sales growth next year at 3 lakh units as compared to 2.55 units expected this year. A big burden for EVs is still the high price, Lee told PTI here in an interaction. "So without any tax incentive from the government it is very difficult," he said when asked about the impact on possible increase in tax on EVs. New EVs at present attract 5 per cent GST. There has been speculation that the GST rate on used EVs, currently taxed at 12 per cent, may be reclassified into the higher 18 per cent tax slab. Kia India currently sells two EV models -- EV6 with price starting at Rs 60.96 lakh and EV9 tagged at Rs 1.3 crore. Lee cited the example of Canada where sales of EVs crashed when the incentives on EVs were .

Indian EV market to touch Rs 20 trn by 2030, to create 50 mn jobs: Gadkari

Union minister Nitin Gadkari on Thursday said the Indian electric vehicle market potential is likely to touch Rs 20 lakh crore and will create around 5 crore jobs across the entire EV ecosystem by 2030. Addressing the '8th Catalyst Conference on Sustainability of E-Vehicle Industry - Evexpo 2024', Gadkari said estimated electric vehicles finance market size will be around Rs 4 lakh crore by 2030. "The Indian electric vehicles market potential is of Rs 20 lakh crore by 2030, creating five crore jobs across the entire EV ecosystem," he said. The road transport and highways minister said 40 per cent of air pollution in India is because of the transport sector. "We import fossil fuels worth Rs 22 lakh crore, that is a big economic challenge. And this import of fossil fuels is creating a lot of problems in our country," Gadkari said. According to Gadkari, the government is concentrating on green energy as 44 per cent of India's power basket is solar power. "We are giving highest prior

Behind Honda and Nissan tie-up, existential threat posed by Chinese EVs

Like other foreign carmakers, both Honda and Nissan have lost ground in China

European car sales decline in November, led by France and Italy: ACEA

The slowdown in electric vehicle (EV) sales was only partly offset by the growth of hybrid-electric car registrations

Auto OEMs likely to invest $323 billion by 2070 on EVs: CSI report

The report further projected that EVs could add $9.6 trillion in OEM revenues by 2070, with cars being the major contributor from 2030 onwards

EV launches in India to double in 2025, SUVs dominate new lineups

Industry leaders such as Maruti Suzuki, Tata Motors, Mahindra & Mahindra, Hyundai, and MG Motors are gearing up to introduce a range of EVs in India

LG Energy Solution, JSW discuss $1.5 bn EV battery manufacturing venture

The two companies have signed an initial agreement to form an equal partnership in which LGES will contribute the technology and equipment for making batteries and JSW will invest money

VW, unions resume last-ditch round of talks for the year on cost cuts

Talks ended after around 13 hours of negotiation in the early hours on Tuesday without a deal but would resume mid-morning, a spokesperson for IG Metall union said

Delhi EV policy woes: Registrations drop in capital while other states grow

Sector experts say that a lack of clarity and unannounced halts in the policy have deterred customers from buying EVs in Delhi

Magenta Mobility to add 10,000 EVs over next FY; to expand to new cities

Electric mobility firm Magenta Mobility on Monday said it plans to add 10,000 electric vehicles -- both three and four-wheelers -- over the next financial year and is also looking at expanding into new cities such as Nashik, Nagpur, Vijayawada, Indore and Kolkata, among others. The company also said that after establishing a strong presence in the electric three-wheeler space, it is now aggressively expanding into the four-wheeler category. With a fleet exceeding 500 electric cargo four-wheelers, Magenta Mobility is transforming urban and intercity logistics, it said. Building on its leadership in the three-wheeler EV segment, where it serves major clients in the e-commerce space, Magenta Mobility is now aggressively expanding into the four-wheeler category, the company said. The company has launched interstate services across key corridors, including Rajasthan-Haryana-Delhi, spanning over 180 kilometres, and Delhi-Haryana-UP, covering more than 140 kilometres, it said, adding, ...

LICO Materials opens 'zero-liquid-discharge' battery recycling facility

Lithium-ion battery recycling and refurbishing firm LICO Materials on Friday announced the inauguration of a battery recycling facility in Bengaluru and said it will invest Rs 250 crore in its downstream hydrometallurgy plant in next two-three years. The 4 GWh per annum in-feed capacity plant in Bengaluru will address the challenges of securing a stable supply of critical materials and contribute to India's ambition of achieving 30 per cent electric vehicle (EV) adoption by 2030, LICO said. The company said it aims to scale up capacity at the facility to 10 GWh in the next 3-4 years. With India's EV industry expected to grow by 250 per cent and energy storage sector to reach 42GW by 2032, recycling of used batteries will play a crucial role in recovering critical minerals to support the battery circular economy, according to the company. "The new facility marks a significant milestone in our journey to redefine lithium-ion battery recycling and repurposing in India. As we scale up

China leads global EV sales as it hits third consecutive record high

China continued to lead sales growth, accounting for almost 70 per cent of total EV sales in the month, while registrations in Europe showed a marginal decline

Tivolt Electric Vehicles sign MOU with TPREL to enhance EV charging infra

This partnership aims to build a robust EV Charging ecosystem by leveraging Tata Power's expertise in diversified EV Charging solutions

EVs, ancillary industries may see Rs 3.4 trn investment by 2030: Colliers

Domestic and foreign firms have announced a whopping Rs 3.4 lakh crore investment in India's electrical vehicles (EVs) and ancillary industries over the next six years, Colliers India on Wednesday said while expressing concern over "tardy progress" towards achieving the goal of 30 per cent electric mobility by 2030 Real estate consultant Colliers India on Wednesday released a report 'EVs in India: Renewed Vigour in Electric Mobility', highlighting that an overall EV penetration rate in India stood at 8 per cent. It estimated sales of around 2 million (20 lakh) EVs in 2024. "Although the pace of EV adoption in the country has been commendable, it has not been as brisk as anticipated," the consultant pointed out. The report mentioned that individual companies across the EV landscape have announced plans to invest USD 40 billion (Rs 3,40,000 crore) in a phased manner till 2030. Out of this, USD 27 billion is planned for lithium-ion battery manufacturing and USD 9 billion for OE (Origin

India's battery electric vehicle market to grow threefold next year: S&P

Battery electric vehicle production is projected to hit 377K units in 2025, says S&P Global Mobility

Maharashtra, Tamil Nadu, Haryana ride auto PLI manufacturing wave

Maharashtra leads the tally with 77 facilities, followed by Tamil Nadu with 46, Haryana with 37, and Karnataka with 28

EKA Mobility secures two order of Rs 150 crore from UPSRTC for e-buses

Electric vehicle maker EKA Mobility on Tuesday said it has secured two orders worth around Rs 150 crore from the Uttar Pradesh State Road Transport Corporation (UPSRTC) for supply of 70 air-conditioned electric buses. The orders comprise supply and maintenance of 12-meter 40 and 9-meter 30 AC buses, it said. These buses will play a key role in enhancing UPSRTC's fleet, the company said. EKA Mobility said it will also supply chargers to enable smooth operations, adding that both projects include long-term annual maintenance contracts to maintain peak performance for the next 10 years.

BEST bus crash: Arrested driver had no experience of driving EV, say police

The driver of a BEST bus that mowed down seven persons in Kurla area here had no experience of driving electric vehicles (EVs), police said on Tuesday, as he was arrested for 'culpable homicide not amounting to murder.' He had undergone only a ten-day training for driving electric buses, the driver allegedly told police. The accident on SG Barve Marg on Monday night left seven persons dead and 42 injured while 22 vehicles were also damaged. The civic-run Brihanmumbai Electric Supply and Transport (BEST) undertaking said it has set up a committee to probe the tragedy, even as local BJP leaders demanded that it review the wet-lease model under which buses are hired from private contractors. Sanjay More (54) , the driver, was first detained and later arrested under sections 105 (culpable homicide not amounting to murder) and 110 (attempt to commit culpable homicide) of the Bharatiya Nyaya Sanhita and relevant provisions of the Motor Vehicles Act, a police official said. He was produc

58% potential EV buyers discouraged by range anxiety, says report

Moreover, 70 per cent of India's public chargers are concentrated in metropolitan hubs, leaving rural and semi-urban areas woefully underserved