Media
Global EV market reaches 11 million units in 2022, China's BYD leads
- May 28, 2023
Source: Business Standard
The global electric vehicle (EV) market reached 11 million units last year with a penetration rate of 14 per cent, as more countries double down on electrification, connection, autonomous driving. The top three players worldwide -- China's BYD, Tesla and SAIC-GM Wuling -- occupied 36.11 per cent of the market in 2022, according to the IDC.
Electric cars more harmful than conventional, hybrid cars: Study
- May 23, 2023
Source: India Today
A recent IIT Kanpur study suggested that electric vehicles are doing more harm to the environment. Battery Electric Cars (BEVs) emit 15-50 per cent more greenhouse gases in different categories than other vehicles, according to the study. The manufacturing, use and scrapping of electric cars is producing 15 to 50 per cent more greenhouse gases (GHGs) than hybrid and conventional engine cars, according to the report by IIT Kanpur's Engine Research Lab.
15 EV charging stations operational, more to be set up in Pune, Pimpri Chinchwad
- May 23, 2023
Source: Indian Express
The Maharashtra State Electricity Distribution Company Limited (MSEDCL) is planning to set up more charging stations for electric vehicles in Pune, Pimpri Chinchwad, and along the national highways. At present, 15 charging stations are operational under Pune zone. MSEDCL is the state nodal agency for providing electric vehicle charging facilities under the e-vehicle policy.
The role of private companies and startups in the growth of the EV market in India
- May 23, 2023
Source: The Financial Express
Tata Motors is a leader in the EV space in India. While big companies are making some huge bets on EVs, startups are no less behind them. According to Fortune Business Insights, the Indian electric vehicle is expected to grow from $3.21 billion in 2022 to $113.99 billion by 2029 at a CAGR of 66.52%.
Himachal government plans to encourage EV use to become Green Energy State by March 2026
- May 23, 2023
Source: The Week
During a review meeting the state's Chief Minister has stressed the importance of identifying suitable locations for charging stations along the proposed three Green Corridors Highways in Himachal Pradesh. These highways include Parwanoo-Nalagarh-Una-Hamirpur-Sansarpur Terrace and Bilaspur-Hamirpur-Kangra, and Mandi-Dharamshala-Kangra.
Government reduces FAME-II subsidy on electric two-wheelers from June 1
- May 22, 2023
Source: Business Standard
The government has reduced the subsidy provided under FAME-II (Faster Adoption of Manufacturing of Electric Vehicles in India) scheme applicable on electric two-wheelers registered on or after June 1. For electric two-wheelers, the demand incentive will be Rs 10,000 per kWh. The cap on incentives for electric two-wheelers will be 15 per cent of the ex-factory price of vehicles from 40 per cent at present.
India ripe target for EV companies but domestic take up slow: Report
- May 15, 2023
Source: The Economic Times
Despite being the third-largest auto market in the world, no Indian company is likely to achieve a meaningful global share of electric vehicles in the near future, warns a report by S&P Global Ratings. Asia is set to keep its place as the world's biggest producer of, and market for EVs, EV batteries, and EV battery materials and the continent will be at the centre of the EV era.
Electric vehicle sales leapt 55% in 2022 - here's where that growth was strongest
- May 11, 2023
Source: World Economic Forum
The fastest growing markets last year were Indonesia, India and New Zealand. India experienced sales growth of 223% and New Zealand recorded a 151% increase in sales compared to 2021.
Annual EV sales in India surpassed 1.2 million in FY 2023
- May 11, 2023
Source: PV Magazine
Uttar Pradesh led the yearly electric vehicle sales with a 15.15% share of the cumulative 1.2 million units sold in FY 2022-23. It was followed by Maharashtra (12.72%) and Karnataka (9.14%). Annual EV sales in India crossed 1.2 million in FY2023, a 174% increase year-on-year. Electric two-wheelers accounted for more than 60% of the overall units sold.
More lithium for EVs: after J&K, new reserves found in Rajasthan
- May 08, 2023
Source: Inc42
As per officials, the quantity of lithium in Degana is higher than in Jammu & Kashmir and can cater to 80% of the country's demand. Lithium is one of the major elements for lithium-ion batteries used in EVs, however, India is currently dependent on its imports in the absence of local supply.