Media
Electric vehicles: India's share in global PV market may rise to 7% by 2040, says Goldman Sachs
- March 30, 2024
Source: Business Today
A latest estimate by Goldman Sachs has stated that India’s share of the global electric passenger vehicle market may go up to 7.1 per cent by 2040 from the current level of 1 per cent in 2024. As per estimates for 2024, Sachs has predicted that electric passenger car sales will remain at more or less the same levels as 2023, around 0.1 million. But in 2030, they will cross the million mark for the first time, hitting 1.3 million in 2030 and then 5.5 million by 2040.
Tata Passenger Electric Mobility partners with HPCL to expand EV charging infrastructure across India
- March 27, 2024
Source: Business Today
Tata Passenger Electric Mobility (TPEM) and Hindustan Petroleum Corporation (HPCL) have inked a deal to enhance public EV charging stations across India, leveraging Tata's EV insights and HPCL's extensive fuel station network. The collaboration will leverage HPCL's fuel station network and TPEM's experience with over 1.2 lakh Tata EVs in India, to establish public charging stations at popular locations.
New electric vehicle scheme links lower import duty with FDI
- March 25, 2024
Source: Business Standard
The government has notified the scheme to promote manufacturing of electrically operated passenger vehicles (EVs) in India and issued two notifications 19/2024-Customs and 20/2024-Customs both dated March 15, 2024, exempting the social welfare surcharge and reducing the basic customs duty (BCD) to 15 per cent on imports of EVs falling under the heading 8703 of the Customs Tariff subject to certain conditions. The government hopes the scheme will attract foreign direct investment in the manufacture of EVs
Government announces Rs 500 crore e-mobility scheme to promote electric vehicles
- March 13, 2024
Source: Business Standard
The Ministry of Heavy Industries has announced a new scheme to promote e-mobility in the country with an outlay of Rs 500 crore for four months beginning April 2024. The scheme will be for four months till July 2024. Under the scheme, a support of Rs 10,000 per 2-wheeler will be provided.
High-end EVs to cost more in Karnataka as govt to levy additional tax
- March 09, 2024
Source: The Economic Times
The prices of high-end electric vehicles in Karnataka are set to increase as the state government has decided to collect a lifetime tax of 10% of the vehicle's cost at the time of registration. The new rule will apply to electric cars, jeeps, and buses, the govt said in a notification.
End of the road for FAME-II scheme for EVs drives up e2W, e3W demand
- March 09, 2024
Source: Business Standard
There has been a significant increase in queries, bookings, and sales of electric vehicles in the country, particularly in the two- and three-wheeler segments, even as EV manufacturers are in a bind over the likely end to subsidies under the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME-II) scheme after March 31.
Electric buses take center stage in India's push for green transportation
- March 07, 2024
Source: MoneyControl
After scooters, electric buses are India’s next big focus when it comes to accelerating the country’s slow shift to cleaner transport. Ashok Leyland Ltd., the flagship company of conglomerate Hinduja Group, broke ground last month on a manufacturing plant for electric commercial vehicles in the northern state of Uttar Pradesh. Tata Motors Ltd. unit TML Smart City Mobility Solutions, meanwhile, expects to deploy 3,300 e-buses on roads by fiscal 2025, and Olectra Greentech Ltd., which has a partnership with China’s BYD Co., is constructing a new e-bus plant that’s forecast to start production in July.
Odisha: BPIA to introduce electric aircraft towing vehicles to reduce emission
- February 26, 2024
Source: The New Indian Express
In a first-of-its-kind initiative in Odisha, the Biju Patnaik International Airport (BPIA) in the state capital has planned to introduce electric vehicles to tow aircraft between runway holding points and aprons. Currently, the aircraft operating at BPIA are reaching the aprons from holding points by using their own power. They will be towed till the aprons by the electric vehicles after the new system is implemented in the airport.
Government tweaks electricity Act to promote EVs and solar panels
- February 23, 2024
Source: The Economic Times
The Indian government has made changes to the Electricity Act to promote electric vehicles and solar energy. The amendments facilitate easier installation of rooftop solar systems, separate electricity connections for EVs, and reduced waiting periods for new connections.
EVs and India’s Net Zero goals
- February 19, 2024
Source: The Financial Express
The focus on the adoption of electric vehicles should intensify as EVs offer the lowest lifecycle carbon footprint due to their zero tailpipe emissions. As India’s solar capacity is set to quadruple to 293 GW by 2030, an electric vehicle’s emission is expected to be 30-63% lower than a gasoline counterpart’s. [Shailesh Chandra]