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Electric vehicles on Indian roads to touch 5 crore by 2030; big opportunity for EV charging players: KPMG

  • August 31, 2022

Source: The Economic Times

The total number of electric vehicles on Indian roads is likely to touch 5 crore by 2030, presenting an enormous opportunity for players in the charging ecosystem, according to a report by consultancy firm KPMG. A large increase in electric vehicles (EV) sales is anticipated in India due to favourable factors on demand, supply and regulatory front despite a low penetration level of about 1 per cent currently, KPMG said in its report, Electric vehicle charging, the next big opportunity.

Electric vehicles bringing 'silent revolution' in India, says PM

  • August 28, 2022

Source: The Times of India

Prime Minister Mr Narendra Modi said that electric vehicles are bringing a 'silent revolution' in the country and will help India cut down on its carbon emissions. The PM virtually laid the foundation stones of the Maruti Suzuki vehicle manufacturing facility for Haryana and Suzuki EV battery plant for Hansalpur in Gujarat.

Punjab plans new policy to promote electric vehicles

  • August 28, 2022

Source: The Hans India

Punjab Chief Minister Mr Bhagwant Mann has given a nod to a new electric vehicle policy draft that envisages registration of 25 per cent more electric vehicles compared to the last year. The policy aims at reducing environmental pollution by promoting electric vehicles.

Delhi announces action plan for EV charging points infrastructure

  • August 23, 2022

Source: The Economic Times

The Delhi government has announced an action plan for setting up charging and battery swapping infrastructure for electric vehicles (EV) to support a transition to cleaner means of mobility in the national capital. As part of this plan, the government is targeting installation of 18,000 public and semi-public EV charging points and battery swapping stations by 2024.

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.