Media
Biden proposes $174 billion investment in electric vehicles
- March 31, 2021
Source: Electrek
US President Mr Joe Biden has unveiled an outline of his infrastructure plan, and it includes a proposed $174 billion investment in electric vehicles. the investment will include funds to help automakers secure materials for electric vehicle production and converting factories. The announcement confirms that the initiative will also revamp the consumer incentive to buy electric vehicles.
Xiaomi to invest $10 billion in new electric vehicles unit over next 10 years
- March 31, 2021
Source: News 18
Xiaomi has formally entered the automotive industry with a new smart electric vehicle (EV) business, the company announced in a filing. The firm will initially invest CNY 10 billion (roughly INR 11,211 crores) in the wholly-owned subsidiary, with a total investment goal of $10 billion (roughly INR 73,600 crores) over the next ten years.
Navi Mumbai: NMMT gets 77 electric buses under Centre's FAME India scheme
- March 31, 2021
Source: Free Press Journal
The Navi Mumbai Municipal Transport (NMMT) has received 77 electric buses under the central government's Faster Adoption and Manufacture of Hybrid Electric Vehicles (FAME) India scheme. These buses will soon hit the road after the completion of formalities like registration with the RTO and decision on the route.
66 per cent customers ready to buy electric vehicles: Survey
- March 22, 2021
Source: ET Energyworld
An increasing number of Indian customers are willing to buy electric vehicles of late, the government has been making a determined push towards electric mobility. At present, EVs contribute less than 1 per cent of total vehicles sold, but has the potential to scale up to 5 per cent within a few years. In 2019-20, about 3.8 lakh electric vehicles were sold in India of which 58 per cent were low-speed E3W and 40 per cent E2W, according to a CarDekho OMG survey.
Ola to set up cell manufacturing plant for powering Lithium-ion battery
- March 17, 2021
Source: Business Standard
Ola Electric is working on a plan to set up a cell manufacturing plant to power its lithium-ion (Li-ion) battery. Once executed , it could become one among the first few Indian manufacturers to do so since all the cells for the battery are currently imported. Ola will initially source the cells for the Li-ion battery used in its soon-to-be-launched e-scooters from South Korea. The batteries are going to be made in the upcoming integrated plant near Bengaluru where the e-scooter will also be manufactured.
Demand for e-vehicles in India more than doubled in 3 years
- March 16, 2021
Source: ET Energyworld
As against 69,012 units of electric vehicles sold in India during 2017-18, its numbers increased to 143,358 units in 2018-19; and rising further in 2019-20 to 167,041 units. The adoption of electric vehicle by commuters is on the rise in the country as falling prices and government support is pushing up demand and increasing adoption of these green vehicles.
MG Motor India, IIT Delhi partner for research on connected, electric and autonomous vehicles
- March 15, 2021
Source: Autocar Professional
MG Motor India has joined hands with IIT Delhi’s Centre for Automotive Research and Tribology (CART) for research in connected, electric and autonomous vehicles. The partnership through Foundation for Innovation and Technology Transfer (FITT), IIT Delhi aims at furthering MG’s focus on CASE mobility (Connected – Autonomous – Shared – Electric); through enabling supporting research for deployment of electric and autonomous vehicles in the urban landscape in India.
Volkswagen presents technology roadmap for batteries and charging up to 2030
- March 15, 2021
Source: Volkswagen
The Volkswagen Group presented its technology roadmap for batteries and charging up to 2030 today on its first Power Day. The goal of the roadmap is to significantly reduce the complexity and cost of the battery in order to make the electric car attractive and viable for as many people as possible.
Explained: How Tamil Nadu leads the global electric vehicle rally
- March 10, 2021
Source: Business Standard
Tamil Nadu, one of the world’s 10 largest auto hubs, is now inching towards becoming one of the largest global bases for electric two-wheelers. Over the past six months, several auto majors and component suppliers have chosen Tamil Nadu to set up manufacturing facilities to produce about 4.5 million EV (electric vehicle) two-wheelers cumulatively over the next five years.
NITI Aayog and RMI India release a new report ‘Mobilising Electric Vehicle Financing in India'
- March 09, 2021
Source: Press Information Bureau
NITI Aayog and Rocky Mountain Institute (RMI) India released a new report ‘Mobilising Electric Vehicle Financing in India’, which highlights the role of finance in the India’s transition to electric vehicles (EVs) and analyses that the transition will require a cumulative capital investment of USD 266 billion (INR 19.7 lakh crore) in EVs, charging infrastructure, and batteries over the next decade. The report also identifies a market size of USD 50 billion (INR 3.7 lakh crore) for the financing of EVs in 2030—about 80% of the current size of India’s retail vehicle finance industry.