EVWorldNews

Category: India

  • Tata Motors signs a deal with DTC for electric buses

    Tata Motors saw a major climb by more than 2% on this Monday after Tata Group Company had announced that it secured its biggest order till now for the electric buses by the Delhi Transport Corporation. TML CV which is a subsidiary of Tata has signed the deal with DTC for operation of 1500 electric buses in New Delhi. As a part of this agreement, the company will supply, operate and also maintain 1,500 units of the low floor air conditioned and electric buses. Tata Starbus EV is a product which they have developed indigenously.

    Reacting to this update, the shares of Tata rose significantly and market capitalization of Tata also climbed up to a level of Rs 1.28 lakh crore with over 3.5 lakh shares changing hands in first two hours of the trade in comparison to the two-week average volume.

    The shares of Tata Motors had been trading near their low of 366.05 but this gave the impetus which it needed in an otherwise shoddy year for the automaker where it has seen a fall of 22% in the year. It dropped 6.6% in the last 6 months.

    Also Read: Electric Vehicles for delivery : USPS (evworldnews.com)

    This is a stock which has lost close to 10.6% in the month and 6.5% in the week. The chairman of the company said that this indeed is a very historic occasion for the company as they are going to sign a definitive agreement for the largest bus order of the electric buses. He also cited the long relationship that Tata has had with DTC and said that it has been based on trust and cooperation and they will look to strengthen it further.

    They aim to provide safe, affordable and sustainable transport with this fleet and that is a great boon for the transport industry of the capital of India.

  • Avon Cycles Ltd denies any misappropriation in funds.

    Avon Cycles Ltd from India has denied that it has been involved in any wrongdoing in a scheme of granting subsidies for vehicle manufacturing for boosting the electric vehicle sales after the government said that this company was one of the companies that was being investigated for misappropriation. The government of India has been reimbursing the electric vehicles and hybrid vehicle manufacturers for reduction of the purchase price of their vehicles under what is called the FAME program.

    There were complaints made against 12 manufacturers of electric vehicles and parts. One of them was Avon Cycles for violating the guidelines under the Rs 100 billion program.

    There were other companies which were named by the concerned ministry but the others have not made any comment yet.

    The minister also said that 2 of the 12 companies have already been suspended from the claiming of incentives after the investigation. Avon Cycles in an email has said that it does not have a two-wheeler model which is covered under any of the schemes and the three wheeler models which qualify already meet the eligibility criteria completely.

    The company in a statement said that the presence that they have is in the low speed category for the two wheelers which also implies that they don’t have any model which gets covered under the schemes and therefore no subsidies have been claimed by the two wheeler in this segment.

    The maker has said that they have two number three wheelers which qualify under the scheme and completely meet the criteria which has been set by the authorities. The sales volumes have been significant for them. India is still an electric market which is in its nascent stages and it is growing currently and has an aim of reaching a high level of sales in the coming five years.  

  • Delta to become one stop shop for the electric vehicles.

    In India, Delta is an electric charging station which is a very popular place to charge their electric cars. This is a major global leader in power and a thermal management solutions, Delta has cumulatively delivered more than 6000 electric vehicle chargers for the customers in the country.

    The close cooperation between major stakeholders and Delta in the charging infrastructure sector like Bangalore Electricity Supply Company, Tata Power, Bharat Petroleum and the Energy Efficiency Services Ltd as well as the OEMs has made the breakthrough possible. The managing director, Niranjan Nayak, Delta Electronics India has said that the track record in integrating energy-saving solutions and variety of the Electric Vehicle Charging portfolio has made them a preferred Electric Vehicle charging solution partner in India.

    Globally, Delta has been delivering over 1 million Electric Vehicle chargers since the year 2009.

    Every region in the world has been coming up with the own standard of charging which include CHAdeMo, CCS followed by the other carmakers such as Tesla Supercharger but the discussions are going on a single charging standard for the entire world.

    While there had been initial discussions on the Bharat charging standard for the Indian people and Indian carmakers are following the CCS 2. The person said that the currently 80-85% electric vehicle chargers in India are the CCS2. The CCS2 are expected to become default charging standard in the country.

    Delta has been evolving from just the EV charger supplier to becoming a total solution partner. Nayak had said that Delta offers a complete solution in enabling the EV charging infrastructure from the site survey to the designing the specifications, aftersales and installation services.

    Also Read : Ramakrishna Forging grows in electric vehicle market (evworldnews.com)

    While there was a lot of hardware for the infrastructure charging is usually imported, Delta has enhanced its local Research and development and manufacturing capabilities with over 50% content of the product offering in country now manufactured locally.

  • Ramakrishna Forging and Tsuyo Manufacturing to join hands in electric vehicle market

    Ramakrishna Forging which is among the leading suppliers of forged, rolled and machined products has announced the intention it has for acquiring 51% rights of voting for the Delhi-Based Tsuyo Manufacturing which is a startup that is working on the powertrain solutions for the electric vehicles. This will grow the electric vehicle market

    This is a proposed investment which is going to help Tsuyo for using their technical expertise and skills of manufacturing of both the organizations for enhancing their portfolio and expanding their facilities for the manufacturing of the controllers, differentials and e-axles.

    Also Read : Rwanda electric Vehicles not going as planned by the government. – EV World News

    Ramakrishna Forging has an aim to invest close to Rs 100 crores in the coming five years that is going to generate a turnover of close to Rs 500 crore by the time the fifth year ends.

    Ramkrishna Forging said that they believe that the strategic investment is going to enable them to further the commitment for supporting the electric vehicle growth in India and in the world. They said that they are excited for the journey and to partner with TSUYO and the acquisition is going to significantly improve the capabilities and expand the share of the market in the evolution of Electric vehicle segment. The transaction also brings many synergies that solidify the position as one of the biggest providers of the forging solutions.

    The headquarters of the company are in Kolkata wher ethe company has been since 1989 and has manufacturing facilities in Jamshedpur, US and other countries.  

    In the years, it has been working, it has increased the forging and die making capacities and also added machining and facilities of heat treatment including the isothermal annealing which has enabled it for undertaking the manufacturing of components for the OEMs and the Tier 1 companies.

    The union is going to be good for both the companies and is going to grow the overall electric vehicle market.

  • Mahindra and Mahindra looking at an investment of 10,000 crore

    Mahindra and Mahindra which is an automaker from India has said today that it is going to invest Rs. 10,000 crore for setting up a manufacturing plant for electric vehicles in Pune as a part of its push for the EV space in the country. The investment plant has been approved under the Maharashtra Government and its industrial promotion scheme for the electric vehicles.

    Mahindra is known for the sports utility vehicles it makes along with jeeps has now said that it is going to now manufacture its Born Electric Vehicles range which includes the Electric Vehicle variant of the popular XUV 700 in its new plant.

    Through its subsidiary, Mahindra is going to make investments of close to Rs 10,000 crore in the period of 7-8 years for setting the manufacturing facility up, development and production of the BEVs of Mahindra and a few others which had been showcased in UK in the month of August in the year.

    Rajesh Jejurikar who is the executive director of the company said that they are delighted with the approval which has come from the Maharashtra Government for setting the EV manufacturing plant up in Pune and investing in what they call their home state for over 7 decades.

    Also read : Lack of awareness about Electric Vehicle battery hurting market – (evworldnews.com)

    As of now, India does not have a huge sale of electric vehicles with Electric vehicles only making about 1% of the total sales of cars of close to 3 million however government wants to help in the growth of this by 30% by the year 2030.

    Currently Pune is home to a few of the top manufacturers of the country which includes Hero MotoCorp , Bajaj Auto Ltd and the Indian Mercedes- Benz and Volkswagen unit.

    The company is currently in talks with many investors who they think will invest in the companies going forward.

  • Krishan Pal Gurjar reveals steps about adoption of electric mobility

    Krishan Pal Gurjar who is the Union Minister for the Heavy Industries has reveled that the steps are being taken from the government towards addressing many challenges faced for the adoption of the electric vehicle acceptance.

    Also read : Lack of awareness about Electric Vehicle battery hurting market – (evworldnews.com)

    The minister in a reply in the Lok Sabha said that close to 7.5 lakh electric vehicles have been helped till the month of December 2022 through the demand incentive which amounts to close to 3200 crores. This has been done as per the Phase-II of the FAME India Scheme. Further, the MHI has also sanctioned 6315 e-busses to the 65 cities/State governments/STUs and other entities of governments. This has been done for the fast adoption and the manufacturing of the electric vehicles and hybrid vehicles in the country.

    There has been an allocation of 10000 crore for the next phase which is going to offer the support on both the shared and public transportation along with electrification. There are incentives which are provided to the buyers of the electric vehicles in the form of the upfront reduction in purchase prices

    He further mentioned the steps which have been taken from the government for addressing the challenges faced in the adoption of the electric vehicles in the country. Different policies have helped in making the electric vehicles at cost with the par with the ICE two-wheelers.

    The country has been in need for the reforms as there are different parts of this country are going through serious problems such as air pollution and population explosion. This is going to need to be controlled otherwise it would affect the health of the population in the market. The growth of the electric vehicles in the market will need a few more campaigns along with the awareness drives. Subsidies too will play a key role in the growth of the electric vehicles.

  • Cheap Chinese imports dent India focused electric vehicle policy

    The cheap imports which come from China are undermining the industry of Electric vehicle in India. Even with subsidies that come from government under the FAME II guideline that stipulate the 90% Indian made vehicles where Chinese imports are much cheaper which is a blow to the Electric vehicle policy of India. This had been stated by the companies which participated in the Biswa Bangla Mela Prangan.

    Ngage Impex Private LTD which is an Electric Vehicle maker from Howrah that sells the electric two-wheeler under the brand name Ronflant, assembles the vehicles in the plant at Jalan complex with the components which imported from China.

    The general manger Swarup Kundu said that they import everything from the batteries to tyres from China. It is a lot cheaper that way. China has been achieving a huge economies of scale and it can price its products a lot more competitively than the Indian products. To make the manufacturing profitable in India, there is a production which is at least the current capacity’s five times. As it has imported, it has been able to keep the price of the components down and keep it around 55000 to 95000. Localization is going to push the costs up.

    EV maker Go which is based in Singur said that its operation began last year and it has been offering in the brand name of Goeen and it has also assembled the scooters with the components from China as per the business heads.

    The electric scooters Chalo have been offered with the lead acid battery of the 48 volts/28AH that has a range of close to 60km and Chalo v2 that has a range of 70km

    So this calls for a great reflection on the Electric vehicle policy of India where they need to introspect about imports.

  • Indian Celebrities owning electric cars.

    Indian market has been accepting electric cars in the recent past. Manufacturers such as Tata are providing affordable electric vehicles while the expensive manufacturers such as Merced have had an entry into the market too. Many of the famous Indians and celebrities are also going the electric way and now adopting to electric vehicles which are spotted for fan attraction on the Indian Roads. Here are a few Indian Celebrities owning electric cars.

    also read : EV Nepal Expo showcases BREV Microvan – EV World News

    Ambanis for example have a huge collection of cars. Ambanis have two electric cars in their garage. They have a high-performance version which has the falcon wing doors which make the entry and exit into the car much easier.

    Cricket icon and the former captain of the cricket team in India, MS Dhoni has also brought an electric vehicle in the country. The car he has brought is Kia EV6 which was launched only a few months ago at the starting price of Rs 59.95 Lakh. The KIA EV6 was sold as CBU and it is the first ever car that MS Dhoni has brought for his garage. The cricket has many cars and bikes that he has bought for himself. Many of them are vintage cars.

    Popular actress and dance Icon of the country Madhuri Dixit has also taken the first electric car delivery early in the year. She along with her husband Dr. Shriram Nene bought the Tata Nexon EV. Nexon EV is among the best selling electric vehicles in the country.

    Famous actor from the Telegu industry, Mahesh Babu has also recently bought the first electric car. He owns an Audi e-tron. This is a powerful SUV which has a driving range of around 484 km.

    This is going to give a major boost to the manufacturers of the electric vehicles and encourage the fans of these celebrities to take up electric vehicles.

  • Electric Vehicle market in India to be a huge part of Electric vehicle change.

    Electric Vehicles in India are going to be a major boon for the electric vehicles market as a whole as the country is dealing with some severe issues of pollution and traffic and electric vehicles have been touted to be a big solution. As a mode of transport, this isn’t just efficient but also eco-friendly. For addressing the pollution and traffic issues, authorities are now pushing the electric vehicles hard as an effort for curbing the air pollution and limiting its dependence on the crude oil. The industry of automobile has been expected to now make a major switch to the electric vehicles in the years to come.

    Also Read :https://twitter.com/evworldnews/status/1599634338559062017

    Population growth is the major reason for the hike of fuel as there is excess in demand and India is exploding as a population. This rapid growth in population is going to put a major strain on the resources of the country including the infrastructure related to transport.

    Air pollution is a huge problem all over the world. India has of now has 14 of the most polluted cities in the top 20 as per the World Health organization. Electric Vehicle is responsible for zero emission and they can play a major role in improvement of air quality.

    Also, India is the third largest importer of oil and the cost of the oil that it imports is a huge draining factor for the economy of the country. The electric vehicles are a lot more efficient than the diesel and petrol vehicles and may also help in the reduction of India on the imported oil.

    Also Read : Emerging countries to lead the Electric Vehicle charge (evworldnews.com)

    Though, alternate transport may be the need of the hour but being a huge economy with people with different class and strata, the switch to the electric vehicles will not be easy and is going to require a major investment in the infrastructure such as charging facilities.

  • Electric vehicles in India running on e-rickshaws.

    Electric Vehicles in India have been a talking point all over the country as the country struggles with growing population and worsening air pollution. Slowly but surely the revolution is coming in terms of electric mobility and the massive revolution is being led by an unlikely source. The unlikely source being e-rickshaws.

    The electric three-wheeler usually used as public transport has been adopted by people all over the country. Whether it is a person who wants to drive the e-rickshaw and is tired of pulling a rickshaw load or a person who wants to set this up as a business, there is opportunity which is there for sure to lead the electric vehicle revolution. The market did however suffer a great dela in the coronavirus period as the impact of coronavirus on electric vehicles was extremely negative in India. There were curfew-like conditions in the coronavirus pandemic. The effect of the virus caused a major dip in the demand for the shared services of electric vehicle. Therefore, the mobility service providers have deterred considerably from investing in the e-rickshaw market but after the pandemic, it has picked up again. The government in India has been encouraging the service providers from making an investment into the e-rickshaws and in the public transportation with the focus being there on the three wheelers, cabs and buses. With the implementation of the policies of the government, there are opportunities for this market are going to expand at a high rate. This is also beneficial for the country which has a high population and therefore helps people get through the traffic with ease. This is also fuel efficient and helps in emissions.  The popularity is only going to increase with the growth in the emission strictness and the population becoming more aware about the benefits of e-rickshaws

    Also Read : Switzerland may limit electric vehicle usage due to electricity shortage. – EV World News