Page 95 - Electric Vehicles

Delhi Electric Vehicle policy achieves 86% of targets: Transport department

Delhi's Electric Vehicle policy which will complete three years in August has so far achieved around 86 per cent of its measures and targets, according to the transport department. Delhi transport department and Delhi Electric Vehicle (EV) cell on Wednesday kicked off the process of drafting a revised 'Delhi EV Policy 2.0' with a stakeholder consultation. More than 220 original equipment manufacturers (OEMs), businesses, industry players, think tanks and government departments participated in the meeting and shared their insights and recommendations on strengthening policy measures for greater e-mobility penetration in the city. "Delhi's EV Policy completes 3 years in August 2023, and has so far achieved around 86 per cent of its measures and targets according to the state transport department. By 2024, it aims to ensure that 25 per cent of all new registered vehicles in the city are electric," the organisers of the consultation said in a statement. Presenting the status of e-mobil

Simple Energy launches electric scooter Simple ONE, plans to invest $100 mn

Electric two-wheeler startup Simple Energy on Tuesday officially launched its maiden electric scooter, Simple ONE, at a starting price of Rs 1.45 lakh (ex-showroom Bengaluru), almost 21 months after its unveiling. However, the model with a 750W charger will be available at a price of Rs 1.58 lakh, the company announced at the launch. The company had unveiled the vehicle globally on August 15, 2021 with a price tag of Rs 1.10 lakh. The deliveries of the electric scooter to customers will start in a phased manner from June 6, with Bengaluru as the first city, Simple Energy Founder and Chief Executive Officer, Suhas Rajkumar announced at the launch. He said the company plans to invest USD 100-million in the next 12-18 months to expand the footprint in India and increase its capacity amid an uptick in demand. Simple Energy has already invested Rs 110 crore in setting up a manufacturing facility at Shoolagiri. Rajkumar also said that the company has received around 1-lakh pre-bookings

As govt cuts down subsidy, EV two-wheelers may get costlier from June 1

The government earmarked Rs 10,000 crore for a period of three years under the FAME-II scheme. The scheme ended in June 2021 and was extended for a period of two years

Royal Enfield looking to roll out uniquely differentiated e-bikes: CEO

Royal Enfield is developing 'uniquely differentiated electric motorcycles' and has already started investing towards product development and creating a supplier ecosystem around its Chennai-based plant, according to CEO B Govindarajan. The company, which is part of Eicher Motors, has announced a capex of Rs 1,000 crore for the current fiscal with a focus on various aspects, including EV manufacturing and product development. Part of the capex would also go into the rolling out of new products from the company's existing internal combustion engine portfolio. "On the EV journey, we have been making steady progress. I can say Royal Enfield's EV journey is in the top gear now. Our intention is to create uniquely differentiated electric motorcycles with strong Royal Enfield DNA," Govindarajan said in an analyst call. The company has commissioned a very capable team and has started committing very deep investments in terms of product development, product strategy and in the product testi

EV buyers to get smaller batteries, less features as Centre cuts subsidy

The Centre recently announced a reduction in FAME II subsidy on electric two-wheelers to Rs 10,000 per kWh from Rs 15,000 per kWh and the maximum subsidy cap of 40 per cent to 15 per cent

Ford CEO Farley out to prove Wall Street wrong on 'crazy high' EV goal

Wall Street still needs a lot of convincing. Ford projects losses from its EV unit to be $3 billion this year. Meanwhile, Tesla continues to dominate the US market and has been cutting prices

Siemens to acquire Mass-Tech Controls' EV division for Rs 38 crore

Following the acquisition, Mass-Tech's EV division will be fully integrated into the e-Mobility Business Unit of the Smart Infrastructure Business at Siemens

Siemens to sell division for Rs 2,200 cr, buy EV charging firm for Rs 38 cr

Technology firm Siemens' board on Friday approved the sale of low voltage motors and geared motors businesses to a Siemens AG subsidiary -- Siemens Large Drives India -- for Rs 2,200 crore. The Board of Directors of Siemens Limited has approved the sale and transfer of low voltage motors and geared motors businesses, including related customer service business to Siemens Large Drives India Pvt Ltd, an entity wholly owned by Siemens AG, for a consideration of Rs 2,200 crore with effect from October 1, 2023, a company statement said. The transaction is subject to fulfilment of conditions precedents agreed upon between the parties, including receipt of requisite shareholders, statutory and regulatory approvals, as applicable, it added. The Board has also decided to consider the distribution of 100 per cent of the sale consideration as reduced by applicable Capital Gains Tax and any other applicable taxes, if any, on the transaction, as a special dividend, at the first board meeting aft

Hyundai, Shell sign MoA to expand charging network for electric vehicles

The two companies signed a Memorandum of Agreement at Hyundai's headquarters in Gurugram, Haryana in the presence of their senior management

Electric scooter companies divided on impact of FAME II subsidy cutback

However, premium electric scooter players feel that the market will consolidate with the premium end dominating the play

Senior executives at Bhilai Steel Plant to get EVs in Chhattisgarh

The EVs will be replacing petrol-driven vehicles

Top Toyota scientist warns against ditching gasoline too soon ahead of G7

While Toyota and other Japanese carmakers pioneered hybrid technology, they have been slow to ramp up EV output

Top headlines: India EV penetration at 1.1%, RBI surplus to surpass targets

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Stakeholder consultation for next phase of Delhi EV policy on May 24

The Delhi government has begun work on drafting a revised electric vehicle (EV) policy for the national capital, since the existing one will expire in August. The Delhi EV Cell of the Transport Department will hold a stakeholder consultation on May 24 for the second phase of the policy, in collaboration with Climate Trends. The consultation aims to bring together stakeholders, international sectoral experts and academicians to share achievements, learnings and experiences, and make recommendations towards the development of the next phase of the policy, according to its website. The Delhi EV policy -- introduced in August 2020 -- aims at increasing the EV share in total vehicle sales to 25 per cent by 2024. According to official data, over 1.12 lakh EVs have been sold under the policy.

EV penetration: At 1.1%, India is far behind Asian average of 17.3%

The countries covered in the region include China, Japan, South Korea, India, Indonesia, Malaysia, the Phili­ppines, Singapore, Thailand, Vietnam, the greater China region, and Pakistan

Govt plans to increase outlay for e-2-wheelers under FAME II scheme

The Heavy Industries Ministry is planning to increase the outlay for e-two-wheelers from the current level of Rs 2,000 crore under its flagship FAME-II scheme and reduce the subsidy per vehicle. There is no proposal at present for an extension of FAME-II beyond March 2024 or introduction of FAME-III, the official said on the condition of anonymity. A stakeholders' meeting with 24 electric two-wheeler OEMs registered under FAME-II was called on Tuesday and the consultation reached a consensus that the demand incentive may be kept at Rs 10,000 per kWh of battery capacity, along with a cap of 15 per cent of the ex-factory price from 40 per cent at present, the official said. A proposal in this regard will be placed before the Programme Implementation and Steering Committee (PISC), which is an empowered panel to effect changes in the Rs 10,000 crore FAME-II Scheme shortly, the official added. Speaking on the issue, Union Minister of Heavy Industries Mahendra Nath Pandey said that as th

FAME-II subsidy on EVs cut to Rs 10,000/KWh, max 15% of ex-factory price

Move comes as outlay for E2Ws was about to get exhausted months before scheme's Mar 2024 deadline. Govt has already disbursed subsidies to 80% of targeted one million E2Ws under the scheme

Tesla plans to build EV plant in India for domestic sales, exports

Senior Tesla executives are in India this week to meet the government to discuss local sourcing of parts and other issues, Reuters reported on Tuesday

Hyundai ties up with Shell to install 60 kW fast chargers at 36 dealerships

Hyundai Motor India on Wednesday said it has tied up with Shell India to install 60 kW fast chargers across 36 of its dealerships in the country. The company has signed a memorandum of agreement with Shell India Markets Pvt Ltd in this regard, the automaker said in a statement. The strategic partnership aims to increase the expansion of charging infrastructure for battery electric vehicles in the country, it added. "Such strategic partnerships are fundamental in accelerating the adoption of electric vehicles by customers to achieve the national goal of carbon neutrality," Hyundai Motor India MD & CEO Unsoo Kim said. Hyundai currently has an existing network of 72 electric vehicle dealers in 45-cities. Shell India Director Sanjay Varkey said the strategic partnership with Hyundai aims to improve the charging infrastructure for battery electric vehicles in India by offering easy access and dynamic availability for a safe, reliable, and seamless charging experience.

Will India be an all-electric or a hybrid market for Toyota Motor?

Green mobility drives Toyota's India plans: With 10 pure electric cars planned by 2026 in its global portfolio, the world's largest car maker hopes to move beyond its SUV mainstays in the country