Media
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.
Delhi government to extend EV incentives till March 2024
- December 28, 2023
Source: Hindustan Times
The Delhi government has decided to extend its electric vehicles (EV) policy for another three months after it expires on December 31, 2023. The policy will be extended until the end of March 2024 after the cabinet approves the extension.
At 13.75%, Chandigarh tops in EV adoption, 3rd time in row
- December 26, 2023
Source: The Tribune
Chandigarh has set an example by leading in electric vehicle (EV) adoption for the third consecutive month in November. According to the Centre’s dashboard, EV adoption in the city was 13.75 per cent in November. Of the total sale of new vehicles in the UT last month, 13.75 per cent were electric.
Visakhapatnam gets CoE for electric vehicles, first in Andhra Pradesh
- December 23, 2023
Source: The Times of India
Dr Lankapalli Bullayya College of Engineering and TVS Training and Services entered into a memorandum of understanding to set up a Centre of Excellence for electric vehicles. The Centre will be made operational in the next month.
Total 5,04,012 electric vehicles registered in last 2 years in the months of June to December
- December 19, 2023
Source: Press Information Bureau
In order to increase the sale of electric vehicles (EVs) in the country, steps taken by the Government include Faster Adoption and Manufacturing of Hybrid and Electric Vehicles in India (FAME India), Production Linked Incentive (PLI) Scheme for Automobile and Auto Component Industry, National Programme on Advanced Chemistry Cells (ACC) Battery Storage, reduction in GST, and other such initiatives.
E-buses to take 8% share in FY25 bus sales: Crisil
- December 18, 2023
Source: The Economic Times
The share of electric buses (e-buses) in new bus sales in India is set to double to around 8% in the next fiscal year starting April compared with the year ended in March 2023, according to Crisil Ratings. This surge results from the government's initiatives like the FAME scheme and the National Electric Bus Programme, aiming to make public transport eco-friendly.