Media
Focus on EV sector to help TN reach $1-trillion economy target: Report
- May 02, 2023
Source: The Financial Express
Stepping up focus on the electric vehicle sector will help Tamil Nadu achieve its target of becoming a $1-trillion economy by 2030-2031, according to a latest Ficci -Deloitte report. The report, “Towards One Trillion: Accelerating Tamil Nadu’s Progress to Become a Trillion-Dollar Economy”, highlights that given the need to become a global leader in EV automobiles, the focus today needs to be on the well-established automotive cluster in the Chennai-Kancheepuram-Chengalpattu-Tiruvallur corridor besides utilising the existing auto-manufacturing infrastructure and industry presence.
Centre extends EV battery safety certification deadline by 6 months
- April 30, 2023
Source: Business Standard
The Centre has extended by six months the deadline to obtain the mandatory electric vehicle (EV) battery safety test certification from the ministry of heavy industries. The certification was compulsory for manufacturers from April 1, 2023, if they wanted subsidies under various EV-promotion schemes.
Demand for electric cars is booming, with sales expected to leap 35% this year after a record-breaking 2022
- April 26, 2023
Source: International Energy Agency
The new edition of the IEA’s annual Global Electric Vehicle Outlook shows that more than 10 million electric cars were sold worldwide in 2022 and that sales are expected to grow by another 35% this year to reach 14 million. This explosive growth means electric cars’ share of the overall car market has risen from around 4% in 2020 to 14% in 2022 and is set to increase further to 18% this year, based on the latest IEA projections.
Odisha enhances subsidy on purchase of electric vehicles
- April 24, 2023
Source: Odishatv
The Odisha Electric Vehicle Policy, 2021 was implemented on September 1, 2021, and based on the experience and best practices across the country; the state government has decided to enhance the subsidy. This will make the policy more progressive and help the State achieve the desired objective and encourage the public to purchase electric vehicles.
Andhra Pradesh gets 250 EV charging stations, 100 more on cards
- April 21, 2023
Source: The Times of India
The New and Renewable Energy Development Corporation of Andhra Pradesh Ltd. has facilitated setting up of 250 electric charging stations in the state. The corporation is also planning another 100 charging stations in the coming year.
A breakthrough in EV battery tech
- April 20, 2023
Source: Business Standard
The rapid rise in the electric vehicle (EV) demand in the past two years has resulted in massive pressure on the battery supply chain. This makes it indispensable to diversify into newer battery technologies beyond lithium. Sodium-ion is a promising technology to complement lithium-ion batteries or even replace them in some cases. [Srihari Mulgund]
Uttar Pradesh on track to be first Indian state with 100% EVs in government departments
- April 19, 2023
Source: Hindustan Times
In a major push to promote sales and usage of electric vehicles (EVs) in the state of Uttar Pradesh, the state government has set a target and has taken action to convert vehicles used in all government departments into EVs in a phased manner by 2030.
Volkswagen plans to invest in India, manufacture electric vehicles locally: Report
- April 19, 2023
Source: Business Today
Automaker Volkswagen is reportedly in the process of shoring up investments in India to manufacture electric vehicles (EVs). The German company is also planning capacity expansion in the country. Volkswagen is preparing to launch its first EV, ID.4, in 2024.
SIDBI to give loans to MSMEs for buying electric vehicles; lend to NBFCs for EV financing
- April 16, 2023
Source: The Financial Express
MSMEs finding it difficult to access loans to purchase electric vehicles (EVs) for their day-to-day operations and commercial use will now be able to access credit directly from SIDBI, the principal financial institution for MSMEs in India. As per a pilot scheme Mission 50,000-EV4ECO announced under guidance from NITI Aayog, SIDBI has said that it will directly give loans to eligible MSMEs (including EV fleet operators, EV leasing companies and aggregators) to buy EVs including two-wheelers, three-wheelers and four-wheelers and also to develop charging infrastructure including battery swapping.
EV sales in India crosses the one million-unit milestone
- April 10, 2023
Source: Times Now
The industry registered an overall sales of 1,152,021 units, which includes e-buses, e-cars, e-three-wheelers, and e-two-wheelers, according to data from Society of Manufacturers of Electric Vehicles. This is a 58% spike in sales in FY22-23, compared to EV sales in FY21-22.