Page 98 - Electric Vehicles

EVs account for 15% of vehicles sold in Delhi in March: Transport dept data

Electric vehicles accounted for nearly 15 per cent of all vehicles sold in Delhi in March, according to the data of the transport department. It also stated that 7,926 electric vehicles (EVs) were sold in March, out of which four wheelers contributed to 20 per cent of the sale and three wheelers contributed 12 per cent. A total of 53,620 vehicles were registered in the city last month. The department noted that 1.12 lakh EVs have been sold under the Delhi Electric Vehicles Policy that was implemented by the AAP government in 2020. "Delhi EV sales Mar'23 report.. 7,917 Electric vehicles sold. EV contributed 14.8% of overall vehicles sold in month; Highest among any states in India. 4W sales contributed to 20% of EV sold. 3W (Goods) contributed 12%. 1.12 lacs EV sold under Delhi EV policy #SwitchDelhi," it said in a tweet. In February, Delhi saw 5,268 electric vehicles being sold out of the total 48,728 vehicles that were registered, while 5,576 vehicles were sold in January of the .

Aim to make FAME scheme more transparent: Minister for Heavy Industries

"The ministry is considering every direction (on penalty) but we will take a decision based on the recommendation in the investigation report"

Statiq wins order from HPCL for over 500 EV chargers in 12 states

EV charging network provider Statiq on Monday said it has won a contract from public sector oil marketing firm HPCL for setting up over 500 EV chargers across 12 states. Under the contract, the firm will install over 500 chargers, for all types of electric vehicles including two and four-wheelers, at HPCL's outlets spread across Andhra Pradesh, Assam, Chhattisgarh, Gujarat, Himachal Pradesh, Kerala, Madhya Pradesh, Maharashtra, Orissa, Rajasthan, Tamil Nadu and West Bengal, the company said in a statement. Of the total 500 chargers, over 400 chargers will be of 3.3 kw capacity each while a few more than a hundred chargers will be of 7.7 kw capacity each, it stated. "With HPCL undertaking a major and country-wide exercise in terms of setting up EV charging stations at their petrol pumps, we have won this tender and become a part of their EV infrastructure building up journey, said Aman Rehman, head of government relations at Statiq. Statiq last year had installed nearly 200 chargers

Tesla sets record with 422,875 car deliveries after slashing EV prices

Tesla Inc. delivered 422,875 cars worldwide in the first quarter, setting a record after it cut prices to appeal to consumers buffeted by rising interest rates and faster inflation

Stepping on the gas: CNG fuel of choice in green mobility quest

Though EVs have fast gained traction; CNG vehicle sales are up 82% in 5 years

Many EVs to lose big tax credit with new rules by US Treasury Dept

Fewer new electric vehicles will qualify for a full USD 7,500 federal tax credit later this year, and many will get only half that, under rules proposed on Friday by the US Treasury Department. The rules, required under last year's Inflation Reduction Act, are likely to slow consumer acceptance of electric vehicles and could delay President Joe Biden's ambitious goal that half of new passenger vehicles sold in the US run on electricity by 2030. The new rules take effect April 18 and are aimed at reducing US dependence on China and other countries for battery supply chains for electric vehicles. Electric vehicles now cost an average of more than USD 58,000, according to Kelley Blue Book, a price that's beyond the reach of many US households. The tax credits are designed to bring prices down and attract more buyers. But USD 3,750, half the full credit, may not be enough to entice them away from less-costly gasoline-powered vehicles. Biden administration officials concede that fewer

EVs account for 4.4% of 2-wheeler registrations, shows VAHAN data

Ola Electric is Numero Uno in the segment, with 22% share

Shriram General Insurance bets big on EVs, join hands with several OEMS

Company targets 40% growth in gross direct premium in 2023-24

Goyal Aluminiums plans Rs 200 cr investment to set up EV plant in UP

Goyal Aluminiums has plans to invest Rs 200 crore to set up an electric vehicle (EV) manufacturing plant in Uttar Pradesh. The company has been allotted 4,000 square metre land from the Greater Noida Industrial Development Authority (GNIDA) for the project. "Goyal Aluminiums...is gearing up to set up a new electric vehicle manufacturing plant with an investment of Rs 200 crore," a company spokesperson told PTI on Wednesday. Recently, the company announced its foray into the EV segment through newly incorporated venture Wroley E India. "Low-speed and electric scooters will only be produced for the domestic market. The company has already received clearance from Central Institute of Road Transport (CIRT) to launch the first high-speed electric scooter in April this year," the spokesperson said. GNIDA has allotted to the company plot number 283 measuring 4,000 square metre in its industrial area on lease for a period of 90 years. The company plans to engage 150 dealers in the EV se

EV startup Lucid to lay off around 1,300 employees in upcoming months

Electric vehicle (EV) startup Lucid announced that it is laying off around 1,300 of its employees or 18 per cent of its workforce, within the upcoming months

Tamil Nadu's Hosur belt switches on as hub for EVs, ancillary units

Tamil Nadu is pulling out the stops to develop this north-western region of the state as a centre for the EV industry

Govt sanctions Rs 800 cr for installing 7,432 EV fast charging stations

The Ministry of Heavy Industries on Tuesday said Rs 800 crore under FAME India Scheme Phase II has been sanctioned to three PSU oil marketing companies (OMC) for setting up 7,432 public fast charging EV stations across the country. The amount has been sanctioned under FAME Scheme Phase II. The ministry has released Rs 560 crore or 70 per cent of the total amount to three OMCs -- Indian Oil (IOCL), Bharat Petroleum (BPCL), and Hindustan Petroleum (HPCL) -- as the first installment for the installation and commissioning of upstream infrastructure and charging equipment of EV public charging stations at respective retail outlets in the country. The installation is expected to be completed by March 2024, the ministry said in a statement. At present, there are 6,586 charging stations across the country. "The addition of the new 7,432 public charging stations will be a significant push to EV charging ecosystem," the release said, and added the charging capacity would be used for chargin

European Union takes key step toward ending era of combustion-engine cars

The last-minute deal is a concession to high-end sports car brands like Germany's Porsche, but is expected to have little effect on the plans of most major manufacturers.

US, Japan reach agreement on vital minerals for electric vehicle batteries

Japan and the United States have reached an agreement on trade in critical minerals for electric vehicle batteries, part of an effort to diversify supply chains and reduce reliance on China for strategically important resources. The deal struck Tuesday is expected to help electric vehicles using metals processed in Japan qualify for tax incentives under President Joe Biden's Inflation Reduction Act. This announcement is proof of President Biden's commitment to building resilient and secure supply chains, US Trade Representative Katherine Tai said in a statement. The Inflation Reduction Act, enacted in August, requires a portion of the critical minerals used in EV batteries to be mined in or processed domestically or from countries with which the US has free trade agreements. Japan and the US have no such FTA, but the deal will grant Japan the same treatment as an FTA partner regarding such minerals, Japanese officials said. As a result, the two sides said they agreed to not impose

EVs could be 30% of order book by 2025, says BMW India president

'Diesel, petrol and electric cars will coexist in premium segment'

FAME II subsidy for electric vehicles at only 52% of its target

Panel recommends extension of scheme

EV three-wheelers will be popular due to favourable operating economics

Electric three-wheelers are expected to gain traction due to favourable operating economics, and the government's focus on cleaner means of transportation, domestic credit rating agency Icra said on Monday. According to a recent Icra report, the electric segment is likely to account for 14-16 per cent of new three-wheeler sales (excluding rickshaws) by FY2025, up from 8 per cent currently. Penetration is estimated to rise to 35-40 per cent by FY2030 as the product gains more acceptance and financing-related challenges subside, as per the report. Icra said, according to its recent channel check, most e3W dealers have seen double-digit growth in sales in the last two years, owing to various factors, such as lower operating costs, exemptions from registration and road taxes, and higher demand for last mile connectivity. However, while demand for e3Ws (including e-rickshaws) is increasing, sales have been limited by a lack of financing options, with the loans being offered at ...

Here's why turmoil in China's mega EV industry may spark a shake-up

The boost part, though, is looking a bit tenuous for both established and EV firms

RevFin targets financing 2 million electric vehicles in next 5 years

Electric vehicles (EV) financing digital platform RevFin Services is targeting to finance 20 lakh vehicles in the next five years, with an aim to grow three to four times every year, according to its CEO & Founder Sameer Aggarwal. With the Indian electric vehicle industry poised for an accelerated growth, he said the company is confident of meeting its target and would continue to raise funds through debt and equity going forward for the purpose. "From a long-term perspective we have taken a very strong position on EVs, and we have committed to financing two million electric vehicles in the next five years," Aggarwal told PTI. Asked if the target is not too steep, considering RevFin has financed 17,118 EVs in the last 51 months, he said,"The monthly loan disbursement is growing month-on-month by about 15 per cent. So overall, it has grown almost four times in the last one year. If we continue the kind of growth that we are currently on we will actually achieve these numbers." In .

Bharat Petroleum launches 19 EV fast-charging stations at 110 fuel stations

BPCL, a Maharatna and a Fortune Global 500 company, today announced the launch of 19 EV fast-charging stations at 110 fuel stations along 15 highways in Karnataka, Kerala and Tamil Nadu