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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
Manufacturing of electric vehicles (EVs) in India will increase its dependence on China for raw materials, mineral processing, and battery production, according to a report of by economic think tank GTRI. The Global Trade Research Initiative (GTRI) also said that there is a need for life cycle impact evaluation for the EVs sector EVs result in the release of pollutants during battery making, disposal, and charging and about 70 per cent of materials used to manufacture EVs in India are imported from China and a few other countries, it said. "EVs will increase India's dependence on China for raw materials, mineral processing, and battery production," it said. China has bought the largest lithium mines in Australia and South America. It processes more than 60 per cent of the lithium produced globally. It also processes 65 per cent of cobalt and 93 per cent of manganese. China makes three out of four batteries produced globally, it said, adding over 100 Chinese battery units make 60 p
Electric vehicle maker Triton Electric India has issued a letter of intent to defence public sector unit Bharat Electronics for the procurement of battery packs for its semi-truck project in India at an estimated value of Rs 8,060 crore, according to a regulatory filing. The 300 kilowatt lithium-ion battery packs are to be delivered by Bharat Electronics (BEL) to Triton in 24 months commencing from January 2023, the filing stated. "Triton Electric Vehicle India Pvt Ltd, a part of Triton Electric Vehicle LLC, USA today issued a letter of intent to Navaratna Defence PSU Bharat Electronics for procurement of 300 KW Li-Ion battery packs for its semi-truck project in India at an estimated value of Rs 8,060 crore," the filing said. BEL chairman and managing director Dinesh Kumar Batra received LoI from Triton Electric Vehicle LLC CEO and Founder Himanshu B Patel at Defexpo 2022 in Gandhinagar. "The purchase order for first-off quantity with 100 per cent advance payment has been handed ov