Page 8 - Electric Vehicles

BluSmart to break even by March; two mfg units on cards: Anmol Jaggi

The EV ride hailing service plans to double its fleet by year end; to explore quick hail

Funding for electric vehicle sector up 117% in 2022, at $1.6 billion

The Budget exemption for Customs duty on capital goods and machinery for manufacture of EV batteries, and the duty cut on lithium batteries from 21 per cent to 13 per cent will lower prices

Maharashtra tops list of states buying EVs through FAME scheme

In electric four wheelers, including cars, Delhi came top

Heavy Industries ministry budget doubled; 93% goes towards e-mobility

79% of the total Rs 6171.63 cr that the ministry received was for FAME

Electric car maker Rivian aims to cut costs, lays off 6% of workforce

Despite a massive initial public offering in November 2021, the price of Rivian's shares has dropped by about 90 per cent as of Tuesday's closure

Future tech: I truly believe this is India's decade, says Bhavish Aggarwal

The Finance Minister's Budget speech today clearly laid down the pathways towards India entering its 'Amrit Kaal', strengthening the foundation of a technology-driven and knowledge-based economy

Union Budget 2023 gives EVs a big charge; boosts vehicle scrappage

Centre and states to provide 25% tax rebate on road tax for vehicles purchased to replace scrapped ones

Two-wheeler electric vehicle sales in India to reach 22 mn by 2030: Report

As the electric vehicle (EV) adoption grows in India, the electric two-wheeler sales volume in the country is likely to reach 22 million by 2030, a report showed on Wednesday

BMW evaluates more battery electric vehicles for India amid growing demand

BMW, along with rival Mercedes, is looking to capitalize on this demand at a time when Tesla has decided to stay out because of high import taxes on EVs

Electric two-wheeler sales to reach around 22 million by 2030: Report

Electric two-wheeler sales in the country are expected to grow to around 22 million by 2030 amid a demand for affordable transportation and the focus on reducing carbon emissions, a report said on Tuesday. A predominantly two-wheeler market, India's overall EV penetration, including two-wheeler stood at around 3 per cent of the total automobile sales in 2022 calendar year. Most developed countries are four-wheeler-dominated markets with as high as 63 per cent and 56 per cent penetration, in the US and China, respectively, Redseer Strategy Consultants said in its report released on Tuesday. It noted that though the electrification of mobility in India is still at a nascent stage, there is a massive headroom for growth. Consumers are increasingly picking EVs understanding that the Total Cost of Ownership (TCO) is more favourable than their petrol counterparts; it said and added that many brands and players have entered the field given a low barrier to entry through imports. As the .

EV market likely to cross 10-mn sales mark per annum by 2030: Eco Survey

India's electric vehicles (EV) market is expected to grow to one crore units annual sales by 2030 and create 5 crore direct and indirect jobs, according to the Economic Survey 2022-23. The survey tabled in Parliament on Tuesday said that in December 2022, India became the third-largest automobile market, surpassing Japan and Germany in terms of sales. "The automotive industry is expected to play a critical role in the transition towards green energy. The domestic electric vehicles (EV) market is expected to grow at a compound annual growth rate (CAGR) of 49 per cent between 2022 and 2030 and is expected to hit one crore units of annual sales by 2030," it said. As per industry estimates, the total EV sales in India stood at around 10 lakh units in 2022. Further, the survey said, "The EV industry will create 5 crore direct and indirect jobs by 2030. To support and nurture this development, the government has undertaken multiple steps". The pre-Budget document also highlighted that t

Hindustan Zinc to pump in $1 bn to replace diesel-run mining vehicles

Vedanta group firm Hindustan Zinc Ltd on Tuesday said it has earmarked a USD 1 billion investment for converting its diesel-run 900-odd mining vehicles into battery-operated ones over the next five years. Hindustan Zinc is steadily switching to electric vehicles for its underground mine operations. HZL together with the Finnish technology company Normet Group Oy, has inducted battery-powered service equipment and utility vehicles into underground mining to help decarbonise and improve environmental sustainability in the mining industry, the company said in a statement. The aim of the company is to revolutionise underground mining, promote productivity, raise underground safety standards, and provide sustainable operations solutions, Hindustan Zinc CEO Arun Misra said.

Eye on untapped market, nine e-bikes to turn up the heat in 2023

The new launches will be from the two significant companies already selling e-motorcycles -- Revolt Motor, the largest in this segment, and Tork Motor - as well as from others

Sunlit Power partners with Lucas TVS for supply of 50,000 EVs to industries

Storage battery maker and distributor Sunlit Power has collaborated with Lucas TVS under which it will supply 50,000 electric vehicle motors and controllers manufactured by TVS group company to various industries, a release said on Monday. It will include motors with 1kw-15kw capacity for various applications including those for two-wheelers, high-speed passenger autos, and pick-up vans, Sunlit Power, which manufactures ARENQ brand of batteries, said in a statement. The three-year partnership with the automotive electrical component maker will also help the company extend its sales and marketing services to facilitate the distribution of these motors and controllers pan-India, the battery manufacturer said. "This collaboration is a step towards bolstering the EV powertrain industry in India. Our sales and service expertise, combined with Lucas TVS's motor manufacturing expertise, will provide automakers with high-end support. Also, we are looking forward to bolstering the capabiliti

TVS Motors increases market share in electric two-wheeler space

Automaker raises share to over 16% with 9,153 registrations in January

Omega Seiki to invest $981 mn in EV components manufacturing units in India

Omega's battery facility in Maharashtra will have a capacity of 0.5 gigawatt initially and scale up to 2 gigawatt

Delhi govt to start e-scooter service soon, Dwarka to be first stop: CM

Delhi government will soon start an e-scooter service to address the last mile connectivity issues, Chief Minister Arvind Kejriwal announced on Saturday. These scooters will be self-driven, and will last for 60 kilometres in one charge, he said while addressing a press conference. The project will initially be started in Dwarka which has no metro stations or bus stops. Subsequently, other locations with high footfall will be identified, he said. "We have improved the public transport system, inducted more buses and now with this e-scooter facility, we will address the problem of last mile connectivity," he said.

BYD India bullish on evolution of passenger electric vehicles market

BYD India has an assembling plant in Chennai

Tube Investments arm buys e-tractor startup Cellestial E-Mobility

Acquirer was already holding 69.96% of Cellestial. On Friday, it signed a deal to buy the balance 30.04% for Rs 50.90 cr

FY24 budget should be favourable to EV industry: Kinetic Green CEO

'India has started adopting EVs as a mobility solution, and with continuous support from the government, we will make great progress in the coming decade'