Page 77 - Electric Vehicles

To meet EV target, OEMs need to rev up entry segment: Bain & Company

Achieving the target requires EVs to grow more than tenfold in volumes in the next six-seven years with penetration going up from the current 5 per cent to 40 per cent by 2030

Govt to take serious note of dumping of lithium-ion battery waste: Gadkari

The government will take serious note of any report about ill effects of dumping lithium-ion battery waste on the environment and is promoting circular economy for recycling of various waste materials, Road Transport and Highways Minister Nitin Gadkari told Rajya Sabha on Wednesday. The issue of ill effect of lithium-ion battery waste dumping and on workers in manufacturing units of this storage system was raised by Congress member Ranjeet Ranjan during the question hour in the Rajya Sabha. In a supplementary question, Ranjan stated that there is a research report which highlights the ill effect on the health of workers involved in the process of manufacturing lithium-ion batteries. The report also shows that the dumping of these batteries after completing life cycle affects the environment and poisons earth and deteriorates soil fertility, she stated. In response, Gadkari said, "There is no such report or finding with us. If anything of such sort comes to our notice then we will .

Hero MotoCorp, Ather Energy partner on interoperable EV charging stations

The network of charging stations will be available to be located through the applications 'My VIDA' and the Ather App

US sets limits on sourcing material from China to receive EV tax credits

The restrictions will apply to battery components next year, then include suppliers of key battery raw materials, such as nickel and lithium, in 2025

Ficci submits proposal for continuation of demand incentives for EVs

Industry body FICCI on Monday said it has submitted its proposal to the Ministry of Heavy Industries for the continuation of the FAME scheme for the next five years, with a review at the end of three years. The time period for the current FAME II scheme is till March 2024. Sudden withdrawal or discontinuation of upfront price incentives will lead to up to 25 per cent price increase of EVs and this may derail EV adoption momentum substantially, also impacting further investments in the EV sector, and disrupting gains made so far, noted FICCI. Purchase incentives on EV vehicles are being continued in markets like Canada, the US, Korea, etc. to achieve their electrification ambitions and India cannot be left behind and miss the EV bus, it argued. "EV penetration in India is only 5 per cent currently. It is imperative to continue FAME scheme to achieve critical mass towards reaching overall 30 per cent EV penetration targets by 2030, stated by Government of India and to also help meet

Indian Oil opens its first EV battery swapping station in Kolkata

Indian Oil Corporation (IOC) on Monday opened its first battery-swapping station in Kolkata for electric vehicles (EV). The oil marketing PSU opened the facility at its retail outlet in New Town on the eastern outskirts of the city in collaboration with Sun Mobility, the company said in a statement, adding that this marks a significant step forward in promoting sustainable and accessible electric mobility solutions across the city. Battery-swapping technology for two and three-wheeler EVs has proven to be a game-changer across India. IOC director (marketing) V Satish Kumar said, "The battery-swapping technology presents a significant opportunity for promoting sustainable electric mobility solutions. This facility is expected to play a pivotal role in the adoption of EVs and spearhead energy transition in eastern India." In the coming months, IOC, in association with Sun Mobility, will install more battery-swapping facilities at its retail outlets, allowing drivers to access its ...

Ola Electric clocks highest registration of 30,000 scooters in Nov

Company says it leads market with 35%, expects to continue its position

Tesla India entry: 'Will never give firm-specific incentives in EV sector'

India will never provide company or enterprise-specific incentives in the electric vehicle sector, a top government official said on Friday, amid a push from American electric carmaker Tesla for special sops to set up its factory in the country. If the government has to consider providing incentives then it will only be for all EV makers and entrants who want to come to India, the official said. The official added that inter-ministerial discussions have happened on the customs duty concession demand of the US-based electric car maker Tesla, but "we never" come to any conclusion on those. In 2021, the US-based electric car maker demanded a reduction in import duties on electric vehicles (EVs) in India. It had requested the government to standardize the tariff on electric cars to 40 per cent irrespective of the customs value. At present, cars imported as completely built units (CBUs) attract customs duty ranging from 60 per cent to 100 per cent, depending on engine size and cost, ..

New US rules aimed at curbing China could limit tax credits for EVs

The Biden administration proposed new rules on Friday that could make it harder for electric vehicles to qualify for a full USD 7,500 federal tax credit, complicating efforts to meet President Joe Biden's goal that half of new passenger vehicles sold in the US run on electricity by 2030. Plans outlined by the Treasury and Energy departments would limit EV buyers from claiming the full tax credit if they purchase cars containing battery materials from China and other countries that are considered hostile to the United States. The new rules required under Biden's signature climate law approved last year are likely to slow consumer acceptance of electric vehicles just as Biden is trying to ramp up sales to help meet his goal to cut planet-warming greenhouse gas emissions in half by 2030. EV sales have tripled since Biden took office, but the US still depends on foreign sources especially China for many of critical minerals needed to produce EV batteries. The proposals are set to .

JSW group to buy 35% stake in joint venture with SAIC Motor of China

MG Motor India JV to focus on electric vehicles

Huawei's new smart car firm valued up to $35 bn amid advanced stake talks

Main auto partner Chongqing Changan Automobile and relevant parties will own up to 40% of the new firm, a Changan Auto statement showed

Honda to invest $3.4 billion in electric motorcycles business by 2030

The company highlighted India and the Asean region as places where it aims to expand market share. Mihara said new production facilities will "highly likely" be in India and Southeast Asia

Rolls-Royce sours on electric-powered planes, says hydrogen needs time

The aviation industry has come under pressure to decarbonize and Airbus SE, the world's biggest planemaker, is betting on hydrogen powered planes entering into service by 2035

Exicom announces entry into UK, Europe, plans to strengthen distribution

Power management solutions provider Exicom on Tuesday announced its entry into the UK and Europe markets and said it plans to strengthen its distribution channel and will provide EV chargers through direct sales channels. As part of this, the company, which has strong presence in India, Southeast Asia, and the Middle East, also rolled out a range of scalable and user-friendly DC fast chargers at the London EV show, according to a release. The company said as it enters the UK market through the London EV Show 2023, its primary aim is to simplify EV charging, guaranteeing its reliability and future adaptability, aligning with the UK government's vision of achieving zero-emission vehicles by 2035. The nearly three decade-old Indian firm operates under two business verticals -- electric vehicle charger solutions for home and businesses while the and second vertical focuses on critical power solutions business, wherein the company services critical digital infrastructure -- providing ...

Musashi targets 25% market share in EV transmission components by 2028

This investment will be used to establish new assembly lines for EV transmission components and to upgrade existing facilities

Electric buses to account for 13% of new bus sales by FY25, says ICRA

E-bus penetration has reached 7 per cent in FY2023, it noted

Electric cycle startup EMotorad raises Rs 164 crore in Series B round

Pune-based electric cycle startup EMotorad on Monday said it has raised Rs 164 crore in a Series B round led by Panthera Growth Partners. The freshly raised capital will be utilised in developing technologically enhanced smart electric cycles and expanding to multiple geographies, the company said in a statement. The funding round also saw participation from xto10x, Alteria Capital, and existing investors Green Frontier Capital, it said. "The infusion of funds will pave the way for the brand's expansion across international boundaries, allowing it to demonstrate the strength of Indian innovation on a global platform," EMotorad Founder and MD Rajib Gangopadhyay said. Founded in 2020 by Gangopadhyay, Kunal Gupta, Aditya Oza, and Sumedh Battewar, the company said it has achieved over Rs 300 crore revenue returns in just three years, selling more than 80,000 electric cycles. "At Emotorad, we have backed a team with a vision trying to build a dominant micro-mobility company out of Indi

E-buses expected to account for 11-13% of new bus sales by FY25: Icra

Electric buses are expected to account for up to 13 per cent of new bus sales by FY2025, rating agency ICRA said on Monday. Many state Electric Vehicle (EV) policies have announced specific targets and timelines for e-bus adoption, thereby creating a road map for electrification, it noted. With significant operational savings vis--vis conventional diesel buses, ICRA said it expects the demand for e-buses to continue to rise. "ICRA foresees electric buses (e-buses) to be at the forefront of India's electrification drive, with the segment expected to witness healthy traction going forward. ICRA estimates e-buses to account for 1113 per cent of new bus sales by FY2025," it said in a report. According to the report, it expects government subsidies and evolving technologies to play a role in further reducing the capital costs involved in e-buses. The traction in the e-bus segment is already visible over the past couple of years, with e-bus volumes as well as penetration levels improvin

Avoid exceptions

Govt should not change EV policy for one company

TVS Motor plans to expand electric two-wheeler range over next 1 year

TVS Motor Company aims to expand its electric two-wheeler portfolio over the next one year as it looks to cater to customers at multiple price points, according to a top company official. The Chennai-based company, which currently has two e-scooters in its portfolio, also plans to expand its electric vehicle sales infrastructure going ahead. It is also developing an electric three-wheeler. "We are also planning to launch a series of products in the range of 5 to 25 kilowatts in the next year," TVS Motor Company Director and CEO K N Radhakrishnan said in an analyst call. He noted that with robust demand in the market, the company has ramped up the production capacity of electric scooter iQube to 25,000 units per month and plans to enhance it further going ahead. TVS plans to commence sales of its new electric scooter TVS X in the current quarter. Radhakrishnan said TVS has close to 400 touchpoints for e-scooters, and the company is continuously expanding the same. "With the produ