Media
EV push: FAME-III scheme set to power electric buses this Union Budget
- January 23, 2024
Source: Business Standard
The third phase of the FAME (Faster Adoption and Manuf–acturing of Hybrid & Electric Vehicles) scheme, expected to be proposed in the upcoming Union Budget, is likely to give a boost to electric buses. From INR 3,209 crore in FAME-II, the allocation for e-buses is likely to rise to INR 4,500 crore under FAME-III.
Odisha clears incentive package for JSW Group’s electric vehicle, battery plants
- January 22, 2024
Source: Hindustan Times
The Odisha state cabinet approved a special incentive package for the Sajjan Jindal-led conglomerate JSW Group’s electric vehicle and component manufacturing projects in Naraj, Cuttack and Paradip, saying they involve a combined investment of INR 40,000 crore, hold the potential to create 11,000 jobs and “usher in a new era of industrial growth and job creation in the state”.
PMI delivers 50 e-buses to Uttar Pradesh
- January 15, 2024
Source: The Financial Express
PMI Electro Mobility has delivered 50 e-buses to Uttar Pradesh, which will ply in Ayodhya. These e-buses manufactured by PMI Electro Mobility will ply within the city limits and facilitate visiting dignitaries, pilgrims, and local citizens with the sustainable, and comfortable modes of public transport complementing the green transport mission at Ayodhya to reduce air pollution.
BPCL partners with TCPL to boost electric vehicle adoption in Uttar Pradesh
- January 15, 2024
Source: BNN
Bharat Petroleum Corporation Ltd. (BPCL) has formed an alliance with Trinity Cleantech Private Ltd. (TCPL) to accelerate the adoption of electric two-wheelers and three-wheelers in India. The two companies have embarked on an ambitious three-year agreement, with an option to extend for two additional years, that will see them establish direct current fast charging points across the Indian state of Uttar Pradesh.
Assam launches India's first 100% Electric Bike Taxi Service via 'Baayu'
- January 08, 2024
Source: ET Auto
The Assam government has launched 'Baayu,' an app-based electric bike taxi service that is an innovative and forward-thinking sustainable mobility initiative of the state government-run Assam State Transport Corporation. The app-based electric bike taxi service was flagged off recently in the state capital Guwahati.
Vietnam invests $2 billion in Tamil Nadu EV facility
- January 08, 2024
Source: Adda247
Vietnamese electric vehicle giant VinFast Auto Ltd plans to establish an integrated electric vehicle facility in the Indian state of Tamil Nadu. With an eye on breaking into the world’s third-largest automobile market, the automaker confirmed its commitment to invest $2 billion in the state.
EV sales in India likely to grow at CAGR of 35%; annual volumes may cross 27 million by 2032, says report
- January 05, 2024
Source: The Economic Times
Electric vehicle (EV) sales in India is expected to grow at a Compound Annual Growth Rate (CAGR) of 35% with annual volumes likely to touch 27.2 million units by 2032, according to the report 'India Electric Vehicle Market Overview 2023' by Customized Energy Solutions. The driving force behind this is a confluence of factors, including the availability of the FAME-II subsidy, which has proven to be a catalyst, with a substantial budget allocation of USD 1.2 billion assigned to subsidise various EV segments.
Electric vehicles witness record registrations in 2023
- January 02, 2024
Source: Deccan Herald
2023 saw bumper sales of electric vehicles in India as their registrations amounted to 15,29,614 units, up 49% from 10,25,123 EVs registered in the previous year, according to data on Vahan, the Centre’s vehicle registration portal. Two-wheeler sales continued to drive a majority of registrations at 8,59,198 units. However, a larger growth in numbers was seen in four-wheelers, which surged to 72,625 registrations from 33,232 in the previous year, marking an increase of more than 118%.
EV sales grow by 48% in CY2023
- January 01, 2024
Source: The Hindu Business Line
EV sales in India grew by 48 per cent year-on-year in CY2023. A total of 15,26,319 electric vehicles were registered in the country last year compared to 10,25,116 in 2022. According to Vahan, the website that registers vehicles in India, 72,321 electric four-wheelers were registered in CY2023 while 32,260 were registered in 2022.
Government has incentivised 11.53 lakh EVs with subsidies worth INR 5,228 crore under FAME II scheme
- December 28, 2023
Source: India Today
The Union government has incentivised the sale of 11,53,079 electric vehicles (EVs) with subsidies amounting to INR 5,228 crore under the second phase of the Faster Adoption and Manufacturing of Electric Vehicles (FAME II) scheme. Various state transport undertakings, city transport undertakings and municipal corporations have placed supply orders for 3,390 electric buses under the FAME II scheme against quantities sanctioned. Out of 3,390 electric buses, 3,037 units have been deployed till now.