Page 74 - Electric Vehicles

Delhi govt to extend its electric vehicle policy for another three months

The Delhi government has decided to extend its Electric Vehicle (EV) policy, set to expire on Sunday, for another three months, officials said. The policy, notified in August 2020, aimed at raising the share of electric vehicles in Delhi to 25 per cent by 2024. It will now be extended till March 31, 2024, and the cabinet will accord its approval, an official said. The Delhi Electric Vehicles Policy, 2020, expired on August 8 this year and since then it has received repeated extensions. According to officials, work on the new Electric Vehicle Policy is underway but it has not been decided when it will come into effect. Delhi Transport Minister Kailash Gahlot had earlier told PTI that the Electric Vehicles Policy 2.0 would look at incentivising the retrofitting of vehicles considering its high cost. For converting a normal Gypsy, it takes almost Rs 5 lakh to Rs 6 lakh, which is on the higher side, he had said.

HP govt restricts departments from buying diesel-petrol vehicles from Jan 1

Chief Minister Sukhvinder Singh Sukhu has directed government departments not to buy diesel and petrol vehicles from January 1, 2024, according to a statement. This will promote e-vehicles and help the state achieve the goal of 'Green and Clean Himachal', it said. In case a department wants to purchase a diesel or petrol vehicle it will have to seek the approval of the state cabinet, it said. "In an initiative to achieve the goal of 'Green and Clean Himachal', Chief Minister Thakur Sukhvinder Singh Sukhu has directed all government departments not to buy diesel or petrol vehicles from January 1st, 2024," the statement said. The chief minister said the number of government e-vehicles has reached 185 and that of private e-vehicles registered in the state at 2,733 thanks to the consistent efforts of the government. "Our government is promoting e-vehicles in Himachal in a big way. The Transport Department becomes the first department to replace its official vehicle fleet with e-vehicl

Scotch whiskey, EV may figure in 14th round of India-UK FTA talks in Jan

Issues like duty concessions on scotch whisky and electric vehicle (EV) and matters concerning the services sector, including mobility of skilled workers, may figure in the next round of proposed FTA talks between India and the UK in January, an official has said. The official also said that both sides have resolved most of the issues in the rules of origin and intellectual property rights (IPRs) chapters. There are 26 chapters in the agreement, including goods, services, investments and intellectual property rights. Though the negotiations between the two countries have reached their last leg, both sides have yet to resolve differences on major issues like British demand for significant customs duty concessions on scotch whisky, and EVs and liberalisation of norms in services sectors like banking, insurance, legal, and Indian demand for easy movement of professionals, the official added. The two countries have concluded 13 rounds of talks, and the next round is scheduled in Januar

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

China's Xiaomi unveils first electric car, plans to become top automaker

The sedan, dubbed the SU7, is a highly anticipated model that is expected to make the most of its shared operating system with the company's popular phones

Govt aims to attract investors from Germany, UK for electric vehicles

While the government is yet to firm up the timeline of the launch of policy, there have been consultations with several countries on the matter

Diversity, transition key drivers of TN industrial growth: Industries secy

About 40 per cent of all EVs manufactured in India come from Tamil Nadu

Chinese carmaker BYD Co overtakes Tesla as world's most popular EV maker

In a sector still dominated by more familiar names like Toyota Motor Corp., Volkswagen AG and General Motors Co., Chinese manufacturers including BYD and SAIC Motor Corp. are making serious inroads

Smaller electric two-wheeler players unlikely to raise prices in 2024

The prices of E2Ws range from Rs 90,000 to Rs 1 lakh, the players being Lohia Auto, Godawari Electric, Emobi, etc

Revitalising FDI

India will need to increase its appeal

GenAI, fintech, green tech, EVs, SaaS, hot bets for investors in 2024

In India, GenAI startup ecosystem is unfolding with remarkable speed, signalling a new era of technological advancement and investment opportunities, according to top inventors

Xiaomi to reveal cutting-edge EV technology on December 28: Details here

Xiaomi is planning to make its first set of cars by the first half of 2024. The company has been actively hiring experts from around the world to advance in-house autonomous driving technology

EKA Mobility to partner with Mitsui, VDL; plans joint investment Rs 850 cr

Electric vehicle maker EKA Mobility on Wednesday said it has entered into a partnership with Japan's Mitsui & Co., Ltd and VDL Groep of the Netherlands with a proposed joint investment of over USD 100 million (around Rs 850 crore) in phases. Under the cooperation, EKA Mobility will receive significant and strategic investments from Mitsui and technological support and an equity partnership from VDL Groep, a leading Dutch technology firm, the company said in a statement. It, however, did not elaborate on the financial details of the partnership. "With a joint investment of over USD 100 million in phases, the cooperation will position India as the global manufacturing and sourcing hub for electric vehicles," the statement said. EKA Mobility Founder & Chairman Sudhir Mehta said, this partnership represents a significant step toward making India a global hub for electric vehicle manufacturing. Mitsui & Co India GM Mobility Business Division, Nobuyoshi Umezawa said, "Through ..

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

By April, 1,400 new electric buses will be inducted in BMTC: Karnataka CM

Karnataka Chief Minister Siddaramaiah on Tuesday said that 1,400 new electric buses will be added to the Bengaluru Metropolitan Transport Corporation by April next year. In the first phase, he flagged off 100 non-AC electric buses of the BMTC at Vidhana Soudha here. "So far, Karnataka women have undertaken 120 crore rides in state transport buses for free since the launch of the Shakti scheme. A total of 40 lakh people travel on BMTC every day. In this, women of all castes, all religions and all walks of life are travelling for free," he said. The new electric buses have been added to promote public transport services and also curb increasing vehicular pollution in the city, he added. Siddaramaiah accused the BJP of criticising its free bus travel service for women and questioned why it did not implement this welfare scheme when it was in power. He also explained the effective results of this scheme. "Due to our guarantees, the purchasing power of people and the economic activity

TMS Ep592: Electric vehicles, stock markets 2023, Santa rally, Blue Origin

Will 2024 be the year of EVs? What led to the rise of stock markets in 2023? Is the Santa rally over in the markets? What is Blue Origin? All answers here

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

HOP Electric eyes 3-fold jump in sales in 2024, to launch mass-mkt e-bike

HOP Electric is targeting up to three-fold rise in its annual sales in 2024 and is preparing to launch an electric motorcycle equivalent to the mass market entry level bikes of conventional engines to shore up volumes, according to company Founder & CTO Rahil Gupta. The company, which has two electric scooters and an electric bike in its portfolio, is also looking to raise around USD 25 million next year to fund production capacity expansion. "In the last three years we have been growing 100 per cent each year. I think 2024 will be no different," Gupta said when asked about the outlook for the next year. On absolute sales volumes, he said,"This year I think we will sell about 20,000 electric scooters and motorcycles and next year we will be trying to push it to around 50,000 to 60,000 units." When asked about future product plans, he said the company has been working on its new platform 'Nimbus' to develop an electric bike equivalent to a 100 cc conventional engine motorcycle, one

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.

Nexzu Mobility plans to set up smart EV park in Gujarat worth Rs 5,000 cr

Atulya Mittal-founded electric mobility firm Nexzu Mobility has proposed to set up a smart EV Park in Gujarat and plans to invest Rs 5,000 crore in the project over the next 10 years, the company said on Thursday. Nexzu Mobility said it has signed an initial pact (MoU) with the state government for this purpose. It also said the work on the proposed project is set to begin next year once land has been allotted to the company. "Nexzu Mobility will invest Rs 5,000 crore over the next 10 years to set up the smart EV park in Gujarat, which is expected to generate employment for over 5,000 people," the company said in a statement. The proposed park will serve as hub, provide comprehensive solutions for Electric Vehicle (EV) companies, professionals, owners, and users by enabling an ecosystem in a concentrated area and infrastructure sharing, among others, it said. "With its focus on clean energy and mobility, high-tech manufacturing and innovation, Gujarat is a fantastic destination fo