Page 99 - Electric Vehicles

PFC okays largest-ever Rs 633 cr EV financing facility to BluSmart Mobility

In the largest EV asset financing deal in India, the Power Finance Corporation Ltd (PFC) sanctioned a loan of Rs 633 crore to Gensol Engineering Ltd (GEL)

Jaguar Land Rover raises EV drive bill to £15 bn to catch up with peers

Jefferies, in a report this month, noted that JLR had been focusing on improving profit and cash flow with an emphasis on selling higher-margin SUVs

BIS to include more sectors under green standards, seeks suggestions

These aim to reduce impact of human activity and promote efficient use of resources

Volkswagen to launch its first electric vehicle ID.4 in India by 2024

ID.4 was launched globally in 2021 and is based on the ID Crozz concept, showcased at India's 2020 Auto Expo

Unpaid subsidies worth Rs 1,200 cr leading to liquidity crisis: SMEV

Call for the industry and the government to work together to solve the issues

EV industry body seeks Parl's intervention in release of pending subsidies

Electric vehicle industry body SMEV on Tuesday appealed to a parliamentary panel to direct the government to release the pending subsidy of Rs 1,200 crore earmarked for the liquidity-hit sector. In a petition to the Parliamentary Standing Committees on Industry and Estimates, the Society of Manufacturers of Electric Vehicles (SMEV) stated that EV adoption is slowing down due to the financial stress being faced by the industry. The industry body said the EV segment has been besieged by irritants designed to disturb the momentum of the FAME 2 scheme. "Now that the country is almost ready with the entire supply chain, the only thing holding up the sector is the Rs 1,200 crore worth of subsidies that have been withheld leading to a serious liquidity crisis in the industry," it said. The need of the hour is for the government and the industry to work together to resolve issues and put India back on track to meet its electric mobility targets, the petition said. In December last year, U

Volkswagen plans to bring its first electric SUV in India next year

German carmaker Volkswagen plans to bring its first electric vehicle in India next year with the launch of premium electric SUV ID.4 to tap the opportunity in the fast growing electric mobility space in the country, a senior company official said on Tuesday. By 2030, Volkswagen expects 25-30 per cent of its total sales in India to come from EVs and the rest from internal combustion engine vehicles. The company, which has introduced a slew of new variants of its existing conventional engine models, Taigun and Virtus, is looking at a sales growth of 40-45 per cent this year. Volkswagen Passenger Cars India Brand Director Ashish Gupta said the company is following a two-pronged strategy of premiumisation and electrification to strengthen presence and enhance its position in India. "Our strategy is very clear. One is premiumisation and the second has to be naturally in line with global positioning, electrification," he told PTI here in an interaction. Asserting that electrification ha

Electric vehicle adoption levels in India to see exponential growth: Report

The growth in electric vehicle sales in India is likely to continue for the rest of the decade, with two and three-wheelers expected to dominate EV sales in the near future, according to a report. The jointly prepared report by KPMG and CII, released on Monday, also said that EV adoption is expected to see an inflexion point once all vehicle segments show significant ownership savings over the vehicles powered by internal combustion engines. The shift to EVs is no longer an uncertainty but only a question of when, the report said. Adoption levels are expected to see exponential growth in future with developing infrastructure, government incentives and the launch of new EV models, KPMG said in a release. Technology is at the forefront of the EV revolution. The shift from ICE to EV has increased the electronics content from 16 per cent to 55 per cent in a vehicle with the addition of new features and controls, it said. Many of these technologies are going to become standard offering

EPA predicts 67% of US vehicle sales will have to be electric by 2032

To hit the targeted reductions, the Environmental Protection Agency predicts that 67% of US vehicle sales will have to be electric by 2032

Only Rs 180cr earmarked for electric vehicles' chargers under FAME-II

Around Rs 3,000 crore out of the total allocation of Rs 5,171.97 crore for the FAME-II scheme in the union budget for 2023-24, has been earmarked for electric buses

Global EV battery market to grow fivefold to $616 billion in 2035

Demand for EV battery production is expected to reach 5.3 terrawatt hours (TWh) globally in 2035, compared with 687 gigawatt hours (GWh) predicted for 2023

Govt catching up, plans to develop infra to assess new-tech vehicles

Latest technology vehicles refers to test vehicles that feature internet-enabled technologies

Indian Rare-Earths eyes 400% expansion for clean energy transition

State-owned IREL (India) Ltd. aims to mine 50 million tonnes a year of rare-earths bearing ore by end-2032, up from 10 million tonnes now

Euler Motors lays off around 200 employees amid restructuring

As per the company's LinkedIn page, Euler Motors has over 500 employees in the startup. However, according to sources the number of impacted employees stands at around 200

'Eastern India's largest' public EV charging hub comes up near Kolkata

The West Bengal Housing Infrastructure Development Corporation (WBHIDCO) in partnership with a private firm Powerbank has established "Eastern India's largest" public fast charging hub for electric vehicles (EVs) near Kolkata. The EV Charging Hub located at New Town is currently capable of fast-charging 25 vehicles at a time, WBHIDCO said in a statement. Further expansions will allow 50-75 vehicles to enjoy fast charging and slow charging facilities. The public can access these charging facilities in a hassle-free manner through the Powerbank EV charging mobile application," it said. The charging hub is located near the Biswa Bangla Convention Centre, owned by WBHIDCO, an agency of the West Bengal government.

MG Motor to launch Comet EV in India on April 19; check details here

Comet EV will be one of the most affordable electric cars on the market and is expected to be in direct competition with Tata Tiago EV

Facilitated around 2300 EV charging points in Delhi, 900 more coming: BSES

BSES discoms BRPL and BYPL have facilitated the installation of around 2300 charging points in Delhi for electric vehicles (EVs) and are in the process to set up 900 more in the coming months, company's officials said on Tuesday. The 2300 charging points installed at over 900 locations across south, east, central and west Delhi include 1,123 private ones, 745 public and 419 for captive BSES use, the officials said. The company is in talks with several partners to expand the charging infrastructure further, they said. "BSES will facilitate the installation of additional 900-plus charging points over the next few months," an official said, adding BSES discoms aim to convert their entire fleet of vehicles to EVs by 2030. Presently, BSES has 80 EVs and the number is expected to reach to 150 in the next two years, they said. The Delhi government's EV policy aims to accelerate the adoption of electric vehicles in the city to reduce air pollution and improve public health. The policy ...

Electric 2-wheeler sales rise over two-and-half fold to 846,976 units: SMEV

Electric two-wheeler sales in India rose over two-and-half fold to 8,46,976 units in 2022-23 over the previous fiscal, Society of Manufacturers of Electric Vehicles said on Monday. Total sales of e-two-wheelers (E2W) were at 3,27,900 units in 2021-22. Citing data sourced from manufacturers, Society of Manufacturers of Electric Vehicles (SMEV) said FY23 saw sales of 1.2 lakh low-speed (LS) e-scooters with top speed less than 25 km/hr. "In the electric two-wheeler segment, the industry sold 7,26,976 high-speed E2W (top speed more than 25km/hr) in FY 2023," it added. In 2021-22, sales of low speed e-scooters were at 75,457 units, while those of high speed e-scooters were at 2,52,443 units. SMEV said in FY23 E2W adoption ended "with an annual shortfall of more than 25 per cent over the minimum target set by Niti Aayog and various research organisations". The industry body said withholding of subsidies under FAME II for not complying with Phased Manufacturing Programme (PMP) guideline

Tesla to build new Shanghai factory for Megapack battery, says report

The company led by Elon Musk, who is visiting China this weekend, made the announcement at a signing ceremony for the project in Shanghai, the report said

South Korea to offer $5.3 bn in financing to domestic EV battery firms

South Korea will extend 7 trillion won ($5.31 billion) in financial support to domestic battery makers over the next five years to help them respond to the United States' Inflation Reduction Act (IRA)