Page 90 - Electric Vehicles

Tamil Nadu may attract 35% of all EV investments in India till 2030

State sees Rs 43,000 crore investment in two years; Hyundai, Ola, Ather among major players

Nasscom calls Delhi's Motor Vehicle Aggregator Scheme 'unrealistic'

Nasscom has flagged concerns over "unrealistic electrification targets" for EVs in the national capital citing supply constraints, inadequate charging infrastructure and challenges ahead for cab drivers in its submissions on Delhi Motor Vehicle Aggregator and Delivery Service Provider Scheme. Nasscom highlighted that only 0.16 per cent of the total vehicle in use in Delhi are currently EVs, as it pointed to the vast difference in electrification targets and current realities. "In its observations, Nasscom raises concerns about the unrealistic electrification targets for EVs in the capital, citing supply constraints, inadequate charging infrastructure, high entry costs and challenges ahead for the cab drivers," the industry body said. The note said the current share of EVs in Delhi is a mere 0.74 per cent, 30.3 per cent and 0.16 per cent for two, three and four-wheeler vehicles, respectively. Nasscom opined that Delhi's electrification targets will negatively impact the mobility of

Tube Investments forays into small commercial electric vehicle segment

Signs deal to acquire 50% stake in Jayem Auto

Tresa Motors unveils first electric truck Model V0.1 for global market

The launch aims to showcase Tresa Motors' commitment to transitioning India into a global force commercial vehicle industry

Electric vehicle makers in talks with Centre on battery decoupling policy

EVs come under the 5 per cent slab, whereas service providers of batteries will fall under a different one

Siemens acquires Mass-Tech Controls Private's EV division for Rs 38 cr

Siemens Limited on Saturday said it has completed the acquisition of the electric vehicle division of Mass-Tech Controls Private Ltd for Rs 38 crore. Siemens is a technology company focused on industry, infrastructure, transport as well as transmission and generation of electrical power. In a regulatory filing, the company said it "has completed the acquisition of EV division of Mass-Tech Controls in accordance with the definitive agreements entered between the parties for a consideration of Rs 380 million, which is subject to adjustments mutually agreed between the parties to the transaction".

Electroplating industry pegged at Rs 12,000 cr on back of high EV demand

Backed by the high demand for electric vehicles, batteries, and hydrogen, the electroplating industry in the country is estimated to be at Rs 12,000 crore, a top industry official said. Homi Bhabha National Institute Vice-Chancellor U Kamachi Mudali said the electroplating industry globally was expected to grow to USD 30 billion. The sector has over three lakh electroplaters present across the country, Mudali noted at the fourth edition of Surface and Coating Expo 2023 here organized by Confederation of Indian Industry (CII). "This (surface and coating) industry today is estimated to be about Rs 12,000 crore. Globally, this industry is expected to grow to USD 30 billion 2030 from the current USD 20 billion." Ramik Shah, Director of Ronuk Group, which is engaged in the manufacturing and supplying of metal finishing and plating, said India was poised to grow in the next decade as many electroplating and global companies were setting up shop in India. "To offer and be a world-class .

June sees e-two-wheeler registrations fall sharply across all players

Drop 60% over May record of 105,348 units

TN working on improving EV charging infrastructure: Minister TRB Rajaa

Tamil Nadu is engaged in improving the electric vehicle charging infrastructure aimed at accelerating the adoption of EVs in the state, Minister for Industries T R B Rajaa has said. To boost EV consumption, the government also amended a policy thereby allowing battery-operated e-autorickshaws, e-taxis and e-buses to be issued permits by the transport department without a permit fee. Earlier, permits were not being issued to battery operated passenger vehicles and those vehicles that run on methanol or ethanol fuel. In 2018, the Ministry of Road Transport and Highways had issued a notification that battery operated passenger vehicles and passenger vehicles driven on methanol or ethanol fuel were exempted from obtaining a permit. The latest move by the Tamil Nadu government comes in the backdrop of a meeting on June 16 held in the city with the Minister for Industries Rajaa, who was apprised by the members of the electric vehicle industry about this issue. Accordingly, the governmen

Tamil Nadu amends policy to enable registration of e-autorickshaws, e-taxis

Earlier, permits were not being issued to battery-operated passenger vehicles and passenger vehicles driven on methanol or ethanol fuel

RACEnergy inaugurates 10,000 sq ft battery production facility in T'gana

RACEnergy, a Hyderabad-based deep-tech electric vehicle infrastructure company for battery swapping, has inaugurated its new 10,000 square feet battery production facility here. The facility inaugurated on Wednesday is equipped with a 50 MWh battery production plant, which can manufacture 30,000 batteries per annum, the company said in a release. This milestone aligns with RACEnergy's goal of targeting 80,000 two and three-wheelers by 2025, representing a significant step towards their target of having 2,50,000 swappable batteries in circulation in the same timeframe, it said. The new facility will provide a collaborative environment for engineers and designers to push the boundaries of innovation, further developing cutting-edge battery technology for electric vehicles (EVs) and significantly expanding the company's production capacity, it said. "The launch of our new facility marks a significant milestone in our journey to revolutionise the electric mobility sector and will cater

Delhi govt's EV transition targets may cause significant disruptions: IAMAI

Earlier this week over 1,500 cab drivers conveyed their concerns about the financial implications of the scheme in a letter to Delhi Transport Minister Kailash Gahlot

BYD India partners Bajaj Finance for dealer finance, vehicle loans

Chinese electric vehicle maker BYD's subsidiary BYD India has signed an initial pact with Bajaj Finance for access to finance to its dealers and customers in the country, the company said on Wednesday. The strategic partnership aims to provide comprehensive vehicle financing solutions to BYD dealers and customers across India, fostering the widespread adoption of electric vehicles (EVs) in the country, BYD India said. "The partnership with Bajaj Finance is aimed at offering our customers and dealers access to a diverse range of financing solutions. We understand the vital role they play in our business, and this new alliance allows us to provide support to our customer base, said Sanjay Gopalakrishnan, Sr Vice President - Electric Passenger Vehicle Business - BYD India. Electric vehicles have seen a surge in popularity in recent years and BYD has been a major player in this space. Auto financing market has begun to shift with customers expecting hassle-free access to credit, said ..

Threatened by shortages, EV makers race for lithium supplies for batteries

Threatened by possible shortages of lithium for electric car batteries, automakers are racing to lock in supplies of the once-obscure white gold in a politically and environmentally fraught competition from China to Nevada to Chile. General Motors Co. and the parent company of China's BYD Auto Ltd. went straight to the source and bought stakes in lithium miners, a rare step in an industry that relies on outside vendors for copper and other raw materials. Others are investing in lithium refining or ventures to recycle the silvery-white metal from used batteries. A shortfall in lithium supplies would be an obstacle for government and industry plans to ramp up sales to tens of millions of electric vehicles a year. It is fueling political conflict over resources and complaints about the environmental cost of extracting them. "We already have that risk of not being able to get enough, said GM's chief financial officer, Paul A. Jacobson, at a Deutsche Bank conference in mid-June. We've g

Ford cutting several hundred jobs to reduce cost amid transition to EVs

Ford Motor Co. is going through another round of white-collar job cuts as the company continues to reduce costs amid a transition to electric vehicles. The company confirmed on Tuesday that it was starting to notify several hundred engineers and other salaried employees that their jobs are being eliminated. The firings come after around 200 Ford contract employees were let go last week. Spokesman T.R. Reid wouldn't give a specific number of Ford jobs that are being cut this week, but said they are not nearly the scale of those made last summer when the company let go of 3,000 white-collar workers and another 1,000 contractors largely in the US. Most of the cuts were in engineering, but all business units will see job cuts, Reid said. Teams that were affected were pulled together yesterday to let them know that there would be actions taken this week. Then individual people will be notified today and tomorrow, Reid said. CEO Jim Farley has said much of Ford's workforce doesn't have

Third edition of electric vehicle innovation challenge by iCreate launched

The third edition of the iCreate's electric vehicle innovation challenge -- EVangelise 23 -- was launched here on Tuesday to identify and nurture startups, which can help solve real-life challenges of the EV ecosystem by providing indigenous solutions. This time, the focus is to identify startups which can develop EV components for four-wheelers, heavy-duty mining and construction vehicles like mining trucks, earthmovers and crawler drill machines, said iCreate CEO Avinash Punekar. iCreate, or International Centre for Entrepreneurship and Technology, is a state-government-supported innovation-based startup incubator having its campus near the city. "The aim of EVangelise 23 is to identify and nurture game-changing innovations, which can help solve real-life challenges in our EV eco-system. One of the main challenges is our dependence on foreign technology and components for all classes of electric vehicles," Punekar told PTI ahead of the launch event here on Tuesday. Thanks to the

Electric 2-wheeler industry to keep growing at robust pace: TVS Motor

Domestic electric two-wheeler industry will continue to grow at a robust pace with active policy support from central and state governments while also emerging as a major hub for exports, according to TVS Motor Company. The company on its part would expand its electric portfolio to cater to different sets of customers. It currently sells electric two-wheelers under the iQUBE brand. "The EV industry will continue to grow rapidly as the consumer interest is buttressed with active policy support from the Central and State Governments through PLI, FAME II and State-specific support policies," TVS Motor Company stated in its Annual Report for 2022-23. Continued support will ensure a smooth lift-off for the industry volumes, it added. "Like in ICE (internal combustion engine) two-wheelers, India will emerge as a major hub for EV two-wheeler exports in addition to the large domestic market," TVS Motor noted. Interestingly, the government has reduced the subsidy provided under FAME-II (Fa

Delhi EV capital with highest number of electric vehicles: CM Kejriwal

Chief Minister Arvind Kejriwal on Tuesday said Delhi has become the country's EV capital with the highest number of electric vehicles being bought in the city. Speaking at the inauguration of 42 charging stations, Kejriwal also claimed that pollution levels in the national capital have declined since 2014. "We started promoting EVs to curb pollution and keeping in mind that they are the future. We framed a policy in 2020 for EVs and set a target that, by 2025, one-fourth of all vehicles bought in Delhi will be electric," Kejriwal said. The Delhi EV Policy was launched in August 2020 with the aim of establishing the city as the country's EV capital and accelerating the pace of EV adoption across vehicle segments, especially in the mass category of two-wheelers, public and shared vehicles and goods carriers. "...I am happy to share that 13 per cent of all the vehicles bought in Delhi are electric ones. Since August 2020, 1.28 lakh electric vehicles have been bought in Delhi," he furt

EV firm Oben raises Rs 40 cr in pre-Series A, will start deliveries in July

EV startup Oben Electric on Tuesday said it has raised Rs 40 crore in an extended pre-series A round and also announced it will start delivering its electric motorcycle Rorr to customers in Bengaluru from next month. The company has so far secured a total funding of Rs 88 crore, including Rs 72 crore (both in equity and debt) in the pre-Series A round, Oben said in a statement. The capital infusion will help the company in scaling up its production capacity at the Bengaluru facility to 100,000 units per year as well as meet the working capital requirements for distribution expansion, it said. The Bengaluru-based EV startup which has a distribution network across major cities in the country, plans to meet the demand of 21,000 pre-orders by scaling up its manufacturing capacity, the company said. The funding round attracted both Institutional investors such as Stride Ventures and Indian Renewable Energy Development Agency (IREDA), along with new investors including Mumbai Angels and

Arkam Ventures launches second fund with a target corpus of $180 mn

Through the fund, the firm will make investments in Series A and Series B start-ups, with a focus on emerging sectors like electric vehicles and manufacturing technology