Page 86 - Electric Vehicles

UP govt launches portal for processing electric vehicles subsidy claims

To promote electric vehicles in the state, the Uttar Pradesh government on Wednesday launched a subsidy portal which will allow customers who bought e-vehicles after October 14, 2022, to claim financial support, officials said here. For availing of the subsidy people have to apply on upevsubsidy.in portal. Once the application is submitted, the subsidy amount will be transferred to the customer's bank account after successful completion of a four-level verification process, they said. This initiative is part of the Uttar Pradesh Electric Vehicle Manufacturing and Mobility Policy, 2022, which includes a purchase subsidy incentive scheme. The development and maintenance of the portal have been entrusted to UPDESCO (Uttar Pradesh Development Systems Corporation Ltd), a statement issued here said. Under the Policy permission has been granted for the implementation of the Purchase Subsidy Promotion Scheme on certain conditions. This scheme is effective from 14th October 2022 and will .

FAME subsidy cut: Prices up over 21%, e2W sales more than halve in June

Among the brands, Ola Electric raised prices by 38%, Ather Energy by 70%, TVS iQube by 62% and Ampere by 69%

India should target 100% electrification of 2Ws, 3Ws by 2030: Amitabh Kant

India's G20 Sherpa Amitabh Kant on Wednesday said the country should target 100 per cent electrification of two and three-wheelers by 2030. He also said India should target that 65 per cent of its state public transport should be electric by 2030. India requires a clear policy framework to achieve these goals of electric mobility, Kant said. He was addressing a side event organised by the NITI Aayog on 'Policy support and Enablers to Accelerate India's Electric Mobility during the ongoing fourth Energy Transitions Working Group meeting under India's G20 Presidency in Panaji. "When India urbanises, our urbanisation should be compact. There should be good livability. In India, we must first go for electrifying two and three-wheeler vehicles, the former NITI Aayog CEO said. "India's policy should be that we must have 100 per cent electrification of two and three-wheeler vehicles by the year 2030. Whatever it takes, fix the target and work backwards, he said. Kant said diesel and pet

Ascend Capital plans to raise Rs 500 cr in 18 months to finance 1 mn EVs

Ascend Capital is planning to raise Rs 500 crore over the next 18 months as it looks to finance over 1 million electric commercial vehicles by 2030, the company said on Wednesday. Co-founded in 2019 by Lokesh Chandra Mittal and Gaurav Maheshwari, the Jaipur-based electric commercial vehicle (eCV) financing firm, has so far invested about Rs 80 crore in its own business and has financed over 8,000 commercial EVs. "We have invested about Rs 80 crore since we founded Ascend Capital. We have a robust growth plan and are eyeing to infuse Rs 500 crore into the company over the next 18 months," Lokesh Chandra Mittal, co-founder and director of Ascend Capital, told PTI. Mittal said these funds will be raised from climate finance, sustainability, and financial inclusion-focused impact investors. The company sees a huge potential in financing eCVs, he said, adding that plans are afoot to finance 1 million vehicles by 2030. However, if there is an opportunity, the company might explore other

All new tourist vehicles in Goa to be EVs from January 2024: CM Sawant

All new tourist vehicles, as well as cabs and motorbikes provided on rent in Goa will have to be electric vehicles from January 2024, Chief Minister Pramod Sawant said on Wednesday. The Goa government proposes major reforms to promote EVs in the coastal state, Sawant said addressing a side-event organised by the NITI Aayog during the ongoing fourth Energy Transitions Working Group meeting under India's G20 Presidency in Panaji. India's G20 Sherpa Amitabh Kant was also present at the side event. Goa ranks fourth in India in terms of percentage of electric vehicles (EVs) purchased in any state, Sawant said. He said all new tourist vehicles, cabs and motorbikes provided on rent will mandatorily have to be electric vehicles from January next year. He also said new vehicles purchased by the government from January 2024 will mandatorily be EVs. It will also be mandatory for permit holders having multiple tourist taxis, rent-a-bike and rent-a-cab (service) operators to retrofit 30 per c

Business Standard EV Dialogues

Business Standard brings to you an insight out discussion on the opportunities, challenges, and policy options before the EV sector >

US EV startup Fisker announces India debut with an SUV of 563 km range

Fisker is set to make its debut in India in September 2023. It will sell only 100 units initially, and the company will also set up a manufacturing unit in India in the upcoming years

Electric two-wheeler sales get recharged as subsidy cut pain eases

Average daily sales in the first 17 days of July double to 1,702 units from 852 units during the same period in June

Here's how China beat everyone to be world leader in electric vehicles

Beijing's success is breathtaking. EVs accounted for a quarter of all passenger cars sold in China last year, far ahead of the roughly one in seven in the US and one in eight in Europe

Maruti adds pedestrian safety alarm in EV hybrid variants of Grand Vitara

Maruti Suzuki India on Monday said it has introduced a pedestrian safety vehicle alarm feature in the electric hybrid variants of its SUV Grand Vitara, which will push up prices by up to Rs 4,000. The company announced the addition of Acoustic Vehicle Alerting System (AVAS) for the intelligent electric hybrid variants of the Grand Vitara. This technology is designed to help keep drivers and pedestrians safe by alerting them about the presence of a vehicle, Maruti Suzuki India said in a regulatory filing. The system works by emitting a low-level alert sound that can be heard up to five feet away, giving pedestrians and other nearby drivers a heads-up that a vehicle is nearby, it added. The addition of AVAS for pedestrian safety makes the Grand Vitara compliant with upcoming regulations, the company said. The price change in these variants of the Grand Vitara ranges up to Rs 4,000 (ex-showroom Delhi) effective from July 17, 2023, it added. The electric hybrid variants of the Grand .

Fisker to sell 100 limited edition electric SUVs in Indian market by Q4

The company had said in September it would begin selling its Ocean electric SUVs in India by July 2023, with local production beginning in a few years

Financing remains a challenge for electric mobility in India: CII Report

As vehicle financing remains a challenge for electric mobility in India, it is imperative to present options that can help adjust the cost and bring EVs on par with the cost of internal combustion engine models, according to a CII report unveiled on Monday. The report, done in collaboration with OMI, is part of a series of reports on Roadmap for Future Mobility 2030. To unlock the benefits of mobility-as-a-service (Maas), clarity on issues like bike taxis and the classification of bikes as commercial vehicles are required. Also, the benefits of bike taxis need to be highlighted in terms of decongestion, affordability for users (and thereby popularity) and providing more choices to consumers, the report suggested. Strategies for promoting Maas should ensure seamless integration and offer multiple options to consumers to create the necessary nudge towards adopting shared mobility, it said. "Vehicle financing continues to remain a challenge for electric mobility at large. It is ...

Musk told to focus on Tesla as electric car rivals BYD, GM pick up pace

Rival automakers pouncing on booming demand for electric vehicles pose the biggest challenge for Tesla over the next two years

Chinese giant BYD prepares $1 bn bet to build EVs, batteries in India

The company previously said it planned to set up manufacturing in India, now the world's third-largest car market

EV aggregator LetsTransport raises $25 mn from Bertelsmann, others

Commercial electric vehicle aggregator LetsTransport announced on Friday it has secured USD 25 million in a funding round. The proceeds from the fresh round will be utilised to expand the company's market presence and reach profitability, it said. The latest round was led by the existing long-term investment partner, Bertelsmann India Investments (BII), which pumped in USD 20 million, LetsTransport said. Prior to this, the platform had raised cumulatively USD 30 million, it said. The aggregator said its plug-and-play platform allows it to offer clients multiple assets across use cases in last-mile, mid-mile, and EV space. "This latest funding round not only fuels our growth, but also reaffirms our shared vision of transforming the logistics industry. Globally, through its division Arvato, Bertelsmann is a major player in the supply chain industry, making them ideal long-term partners for us, said Pushkar Singh, co-founder and CEO, LetsTransport. "Bertelsmann, which partnered with

JBM Auto zooms 18% on securing contract for supply of 5,000 electric buses

Thus far in the calendar year, the stock has skyrocketed 200 per cent, as compared to 7.5 per cent rise in the S&P BSE Sensex.

Finance ministry not considering tax waivers for Tesla: Revenue Secy

Last month, Tesla CEO Elon Musk said Indian Prime Minister Narendra Modi was pushing the car maker to make a "significant investment" in the country, adding that such an announcement was expected soon

Tesla in talks with India to set up factory with 500,000 annual capacity

India was keen for Tesla to manufacture vehicles locally, but the company said it wanted to export its cars first so that it could test the strength of demand

If OEMs refuse to return money, legal recourse will be taken: Kamran Rizvi

'We are in the process of coming up with the next round of bids for 20 gigawatt of capacity'

Auto component makers stepping up investments in green mobility business

In FY23, e-two-wheeler (E2W) penetration jumped to 4.5 per cent from 1.9 per cent in FY22, data released by the Federation of Automobile Dealers Associations shows