Page 63 - Electric Vehicles

EVs must adhere to strict localisation rules under new e-mobility scheme

Centre introduced Electric Mobility Promotion Scheme (EMPS) as a transitional scheme, which will be in place till June 2024 after FAME-II ends on March 31, 2024

Manufacturers of electric vehicles lukewarm to new subsidy scheme

Short duration, stricter compliance pushes EV makers to consider selling vehicles sans subsidy

Electric vehicle operator BluSmart touches milestone of 7,000 EV fleet

BluSmart operates in Delhi NCR and Bangalore using car models such as Tata Tigor EV, MG ZS EV, and BYD E6

Govt announces Rs 500 crore e-mobility scheme to promote electric vehicles

The second phase of FAME-II or Faster Adoption and Manufacturing of Electric Vehicles in India programme ends on March 31, 2024

Xiaomi to deliver first batch of electric vehicles this month in China

The smartphone maker, China's fifth-largest, said in a Weibo post that 59 of its stores in 29 cities nationwide will take orders for its new Speed Ultra 7 (SU7) sedan

FAME scheme extension plan may be on Union Cabinet agenda tomorrow

The MHI has made its last efforts to secure approval for extending the scheme before the March 31 deadline for FAME-II

India will not tailor its policies to suit US EV maker Tesla: Piyush Goyal

India will not tailor its policies to suit US EV maker Tesla, and its laws and tariff rules will be formulated to attract all-electric vehicle manufacturers from across the world to set up a base in the world's fastest-growing economy, Commerce and Industry Minister Piyush Goyal said. Tesla has been seeking an initial tariff concession that would allow it to offset 70 per cent customs duty for cars priced less than USD 40,000, and 100 per cent for cars of higher value. In an interview with PTI, Goyal said the government recognises the need for a vibrant EV ecosystem as greater use of battery-run vehicles will cut carbon emissions as well as the staggering oil import bill. But for this, it will not tailor policies that suit any one company and would rather frame ones that will encourage all-electric vehicle manufacturers from across the world to set up shop in India, he said. "We are working on several initiatives where we are having inter-ministerial (consultations) and a dialogue

Tesla's German gigafactory to restart next week, says works council head

German police said they believed a letter from a far-left organisation called the Volcano Group claiming responsibility for the fire was authentic

End of the road for FAME-II scheme for EVs drives up e2W, e3W demand

FAME-II scheme for electric vehicles to end on March 31

Nissan may bring ultra-compact EV production in-house from 2028: Report

Nissan and Mitsubishi denied the plan

Govt denies reports of extension of EV subsidy scheme FAME-II beyond Mar 31

The government on Thursday said it has not extended the flagship scheme to promote electric mobility FAME-II beyond March 31, according to officials. The Ministry of Heavy Industries denied media reports claiming that the Centre has granted a temporary four-month extension to the scheme till July 31, with an outlay of Rs 500 crore for the period. Subsidies under the second phase of the FAME Scheme will be eligible for e-vehicles sold till March 31, 2024, or till the time funds are available, the Heavy Industries ministry stated last month. It also shared that the outlay of the Faster Adoption and Manufacturing of Electric Vehicles in India (FAME-II) programme has been enhanced from Rs 10,000 crore to Rs 11,500 crore. The ministry had said in the statement that the second phase of its flagship scheme to promote adoption of EVs in India -- FAME II -- was "fund- and term-limited". As per the revised outlay, electric two-wheelers, electric three-wheelers, and electric four-wheelers ar

EAC-PM pitches for mandating EV sales by all automobile manufacturers

The Economic Advisory Council to the PM (EAC-PM) has proposed the introduction of a transferable mandate, prescribing a certain percentage of auto manufactured must be electric vehicles. The advisor also suggested ensuring greater adoption of EVs in the government fleet to enhance demand for electric vehicle cars. In its working paper, the EAC-PM also suggested encouraging the leasing of vehicles as opposed to outright purchase by introducing a suitable GST rate differential for leasing. The paper has been co-authored by EAC-PM chairman Bibek Deroy and Director Devi Prasad Misra. "Hitherto, our policies for the promotion of EVs have focused on subsidies, tax breaks, charging infrastructure etc. While we see a significant increase in the number of two- and three-wheeler EVs, the adoption of EVs in the LMV (cars) segment has remained sluggish. "... the introduction of transferable mandates prescribing for a certain percentage of vehicles manufactured to be EVs will be an efficient w

Electric two-wheeler sales likely to miss NITI Aayog target for FY24

Dealers feel a major reason for the dip is the reduction of FAME subsidy by the government

BYD plans to cover 90% of India's EV market in 2024, to target major towns

Chinese electric vehicle maker BYD plans to cover 90 per cent of the EV market in India by the end of the year as it strengthens leadership position in EVs priced above Rs 30 lakh category, a senior company official said on Tuesday. BYD India, which launched its electric sedan SEAL priced between Rs 41 lakh and Rs 53 lakh, is working to achieve homologation certification from ARAI for its electric SUV Atto 3 which will lift the restriction on import volume of 2,500 units. Homologation is the process of certifying vehicles for roadworthiness under rules specified by the government for all vehicles made or imported into the country. "Our target is that we cover 90 per cent of the EV market in India. That is what we are planning to do by this year, which means we will be present in major towns, and tier I cities. "Wherever we see the electric vehicle penetration is high, wherever the electric vehicle sales are, where it is growing," BYD India, Senior Vice President of Electric Passeng

Tata Motors plans to demerge business into two separate companies

'The demerger is a logical progression of the subsidiarisation of PV and EV businesses done earlier in 2022 and shall further empower the respective businesses,' Tata Motors said in a statement

MWC recap: Xiaomi 14 series to Samsung Ring, top 5 gadgets from tech show

From health-tracking smart rings to transparent displays and bendable smartphones, the MWC 2024 featured interesting innovations and futuristic concepts. Here are the best 5 gadgets of this year

Electric two wheeler volume remains flat despite sharp price cuts

The top four electric two-wheeler manufacturers -Ola, TVS, Bajaj and Ather - account for over 86.45 per cent of the market

IPO-bound Ola Electric clocks highest registration of 35,000 units in Feb

In December last year, the company became the first EV 2W manufacturer to record 30,000 registrations in a month

TVS Motor Company sales increase by 33% to 368,424 units in February

TVS Motor Company on Friday said its wholesales rose 33 per cent year-on-year to 3,68,424 units in February. The company had dispatched 2,76,150 units in February 2023. Total two-wheeler sales registered a growth of 34 per cent to 3,57,810 units last month from 2,67,026 units in February last year, the company said in a statement. Domestic two-wheeler dispatches to dealers registered growth of 21 per cent at 2,67,502 units as compared with 2,21,402 units in the same period last year. The company said its electric vehicle sales stood at 17,959 units last month, an increase of 16 per cent, as compared with 15,522 units in February 2023.

Servotech Power gets Rs 111 cr EV charger supply order from Indian oil

Green charging solutions provider Servotech Power Systems Ltd on Friday said it has bagged a Rs 111-crore order from Indian Oil Corporation and other original equipment manufacturers (OEMs) for the supply of 1,400 DC fast chargers. The company will manufacture, supply and install 1,400 DC chargers in two variants of 60 kW and 120 kW, the company said in a statement. The DC charger will be installed at Indian Oil petrol pumps and other prioritised locations, it said. The company in February bagged two orders that comprised a contract for 1,500 DC fast EV chargers from Hindustan Petroleum Corporation Ltd (HPCL) and OEMs, and another for 1,800 DC EV chargers from Bharat Petroleum Corporation Ltd (BPCL). With the latest project, the total number of EV charger orders from oil marketing companies and EV charger OEMs stands at 4,700 units, it said. Servotech aims to install all these chargers by the end of FY 2024-25.