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M&M to unveil 5 EVs built on new platform in next 5 years

  • August 16, 2022

Source: Mint

Mahindra and Mahindra has said that it will launch five electric vehicles by 2027 on its new platform Inglo, starting with the first in December 2024. The company expects as much as 30% of its sales to come from EVs by 2027. The five electric SUVs will be sold under two distinct brands—XUV and BE.

Independence Day 2022 speech: PM Narendra Modi gives push to electric vehicles, calls for 'Make-in-India'

  • August 15, 2022

Source: Zee News

On the occasion of the nation's 75th Independence Day, Prime Minister Mr Narendra Modi addressed the people, saying that the nation must "reach the next level for energy independence" through the use of biofuels, solar energy, and electric vehicles (EVs). In a recent webinar on `Make in India for the World`, the prime minister asked the industry to tap growing opportunities in areas like semiconductors and EVs.

Government to launch super app showing EV Charging Stations, realtime availability: Report

  • August 04, 2022

Source: Gadget 360

The Super App is said to provide details about the location of electric vehicle charging stations and their availability in real-time. The government is working with state-run Convergence Energy Services Limited (CESL) to develop the app. It will show tariff information of the charging stations and allow users to make and change reservations at nearby stations. The CESL will also set up 810 electric vehicle charging stations across 16 highways and expressways.

EV sales in India to cross 9 million units by 2027

  • July 27, 2022

Source: The Financial Express

According to the IVCA-EY-IndusLaw report, the EV industry is likely to create more than 10 million direct jobs and 50 million indirect jobs by 2030. The report also highlights the global best practices for EVs, the current Indian policy environment, and PE/VC investments in this sector so far, investment opportunities in India for both investors and entrepreneurs.

EV share in auto components to be 9-11% by fiscal 2027

  • July 26, 2022

Source: CRISL

Revenue of the electric vehicle (EV) components’ market in India is likely to rev up at a compound annual growth rate of ~76% to INR 72,500 crore in fiscal 2027 from INR 4,300 crore last fiscal. That will take the share of EVs in the overall automotive components market to 9-11% — up from a negligible 1% currently — even as the supply of parts for internal combustion engine (ICE)-driven vehicles also rises.

Electric two-wheeler sales in India to grow by 78% by 2030

  • July 25, 2022

Source: HT Auto

Electric two-wheeler sales growth will depend on aiding factors like improving charging infra, affordability of EVs, etc. Electric two-wheelers have been leading the pack of electric vehicles in India for quite some time. Both the electric two and three-wheelers have been dominating the space. A study by Redseer claims that electric two-wheelers in India will see a growth of 78 per cent by 2030 if things go well.

CESL signs pact with Three Wheels United to procure 70,000 electric three-wheelers

  • July 18, 2022

Source: ET Energy World

Convergence Energy Services Ltd (CESL), a wholly-owned subsidiary of Energy Efficiency Services Ltd (EESL), has signed MoU with Three Wheels United for procurement of 70,000 electric three-wheelers (E3Ws) for Indian roads over five years. The electric vehicles will be priced at INR 3 lakh and INR 3.5 lakh for passenger and cargo categories respectively and their initial procurement will be for deployment in Bengaluru and Delhi.

NHPC unveils plans for pilot green H2 production in Ladakh

  • July 18, 2022

Source: Renewables Now

NHPC intends to produce green hydrogen and install a green hydrogen fuel cell-based microgrid to meet the power requirements of its own housing facility at the site of the Nimmo Bazgo Power Station run-of-river power complex. The second pact will see the Indian firm produce green hydrogen in the district of Kargil so as to power fuel cells used for mobility purposes. According to its estimates, the output will be able to power two buses for up to eight hours.

Hindalco partners Israel’s Phinergy, IOP to develop aluminium-air batteries for EVs in India

  • July 18, 2022

Source: The Financial Express

Hindalco Industries, an aluminium manufacturing subsidiary of the Aditya Birla Group, has joined hands with Israel-based battery manufacturer Phinergy and IOP, a joint-venture between Indian Oil Corporation and Phinergy, to develop aluminium-air batteries for electric vehicles. Phinergy and IOP will partner with Hindalco on R&D and pilot production of aluminium plates for Aluminium-Air batteries, and recycling of aluminium, after usage in these batteries.

Ola to invest $500 million in battery innovation and indigenous cell R&D

  • July 18, 2022

Source: ANI

Ola Electric will invest $500 million in setting up a battery innovation centre and promoting indigenous cell research and development in India. The company plans to set up a state-of-the-art 'Battery Innovation Centre in Bengaluru. It will be one of the world's largest and most advanced cell R&D facilities with more than 165 unique and cutting-edge lab equipment to cover all aspects of cell-related research and development.