DELHI EV
UP's sops for hybrid vehicles irk EV companies, add to industry's June sob story
Sales of electric cars in June plunged 13.5% from the year earlier, having suffered a marginal drop in May, triggering fears that the Indian market may be following global trends. After last year's euphoria, domestic sales slumped to 20% growth in the January-June period to 46,845 units. That's down from a 135% surge in the same period last year, prompting Tata Motors and others to recalibrate expectations.
TCS Q1 results; Pine Labs, Swiggy valuations slashed
Indian IT bellwether TCS kicked off the tech earnings season with a 9% YoY growth in net profit for the June quarter. This and more on today's ETtech Top 5.
Delhi mulls vertical forests, solar-powered EV charging infra to fight air pollution, climate change
Delhi's government is exploring innovative solutions to combat air pollution and climate change, including solar-powered EV charging infrastructure and vertical forests. They're repurposing lamp posts, parking spots, and petrol stations for charging sites and battery-swapping stations, and considering "smart poles" for fast-charging, public Wi-Fi, and IoT integration. Plans also include implementing vehicle-to-grid (V2G) technology and painting roofs with heat-reflective paint to combat extreme heat. They aim for a zero-emission bus fleet by 2035-2040, building on Delhi's current leadership with 1,650 electric buses and plans for over 8,000 by 2025.
Electric mobility startup Vidyut launches offline pre-owned EV sales, financing platform
Vidyut has launched an offline pre-owned EV platform in Delhi-NCR, Hyderabad, and Bengaluru, with plans to expand. An online marketplace is coming in six months. They handle the full process, reselling EVs from major brands. Their battery subscription model and financing services tackle EV adoption challenges. Vidyut, started in November 2021, aims to improve EV accessibility.
Budget 2024: Don't hold your breath, electrify!
India's air quality crisis demands immediate action with a focus on energy and transportation sector reforms. Accelerating EV adoption is vital to lower pollution levels and decrease oil dependence. Transitioning to electric vehicles presents significant economic opportunities and job prospects. The future of India's environment hinges on these crucial decisions.
BYD India appoints Rajeev Chauhan as VP of electric passenger vehicle business
Chauhan, who has worked in Honda Cars India and Volvo Car India on earlier stints, will spearhead the overall electric passenger vehicle business of BYD India.
Changes likely in India's new EV policy, may benefit legacy car companies
The move comes as US electric carmaker Tesla Inc is still to make any firm commitment on building a factory in India. The policy, which aims to accelerate the local manufacturing of high-end electric cars, currently supports only fresh investments. Consultations are also on with stakeholders on another key issue troubling carmakers.
"Low cost, high performance": Bhavish Aggarwal calls his EV battery 'Bharat Cell' a gamechanger for India
Ola-founder Bhavish Aggarwal announced that the company has developed a cutting-edge lithium cell battery called the "Bharat cell." This battery is currently in an advanced stage of trials and has the potential to revolutionize the Indian electric mobility ecosystem. "This is the 5G of lithium cells, if I can say, it in a very simple way. This is the cutting-edge technology that we have made in India. Globally, only a few companies have this technology capability," Bhavish Aggarwal said during a podcast session.
Chorus grows for angel tax repeal; policy push for EVs
Startup Inc’s calls to do away with angel tax have found support from the government. This and more in today’s ETtech Top 5.
Mid-sized cities to emerge as big demand centre for EVs: Report
Lucknow, Thiruvananthapuram, and Gurugram shine in electric car sales growth. Tier 2 cities emerge as pivotal for electric two-wheeler market. Financial support crucial for tier 3 cities' EV growth. Bengaluru and Jaipur lead in EV adoption. Wealthier cities drive electric vehicle growth, while private uptake fuels tier 2 cities' demand.
Faster nod for power connection to EV charging stations proposed
The Indian government has proposed new guidelines to reduce the approval time for electricity connections for electric vehicle (EV) charging stations. The approval time in metropolitan areas will be cut from seven days to three days, and in municipal areas from 15 days to seven days. In rural areas, the time will be reduced from 30 days to 15 days. The draft guidelines also call for an online single-window clearance system for faster processing of these connections.
EV policy in limbo, Delhi electric car buyers not getting subsidies for last six months: Report
Amid non-renewale of Delhi's EV Policy, subsidies are not reaching car buyers. While the govt blamed bureaucratic procedures for the delay, some officials blamed the banks for delaying subsidy disbursal.
Oben Electric offering electric motorcycle in Delhi with huge Rs 40,000 discount. Check Details
Oben Electric opens its first showroom in Delhi, introducing the Oben Rorr electric motorcycle. The EV maker, as an introductory offer, is also offering almost Rs 40,000 discount on its electric motorcyles for buyers in the national capital.
Expired Delhi EV Policy yet to get extension
The Delhi Electric Vehicle (EV) Policy, which expired on December 31 last year, has not been extended as planned, leaving customers without government subsidies for new e-vehicle purchases. Initially set to be extended until June this year, the policy's extension was approved by the Delhi cabinet in March but delayed due to the Model Code of Conduct during the Lok Sabha polls. Officials are finalizing the new Electric Vehicle Policy 2.0, aiming to incentivize vehicle retrofitting, which is costly.
Hyundai flags concerns with 'changes' by Indian govt ahead of planned Rs 25,000 crore IPO
Hyundai, which plans to raise Rs 25,000 crore through the Indian stock market by selling a 17% equity stake in the local unit, flagged the importance of stable policies for confidently making technological upgrades. They also highlighted concerns about localisation norms like PLI for automotive technology, aiming to reduce import dependence and lower manufacturing costs with significant initial capital investments.
Used EV sales fail to take off: Why electric resale market lags
Electric vehicles (EVs), including scooters, cars, and commercial vehicles, are surprisingly unpopular in the used vehicle market and often sell for less than similar fossil fuel-powered models, according to EV experts. One major reason is the challenge of precisely determining an EV's remaining battery life. This is crucial because batteries can make up half the cost of a new EV, significantly impacting how much a used one is worth.
Solar power and EV policy on priority list of Delhi govt once MCC is lifted
With the conclusion of the country's largest electoral activity and the impending lifting of the Model Code of Conduct, various pending government initiatives and projects in Delhi are poised to gain momentum, as per ToI reports. Among the numerous initiatives of the Delhi government, the mohalla bus service scheme and the second edition of policies regarding electric vehicles and solar power await approval.
Delhi High Court seeks details from Tesla Power India in trademark case with Tesla Inc
The Delhi High Court has requested Gurugram-based Tesla Power India to submit an affidavit detailing the sales figures of electric vehicle scooters and the current inventory in a trademark dispute with US electric vehicle giant Tesla Inc. Justice Anish Dayal has instructed the company to provide information on dealers, launch dates, and stock availability. This directive follows Tesla Inc.'s claim that Tesla Power was selling electric scooters through dealers under different sub-brands despite an earlier agreement.
Tesla vs Tesla: Court asks Tesla Power India to furnish dealer and product details
The Delhi High Court directed Gurugram-based Tesla Power India to detail stocks, sales of electric vehicle scooters in response to a petition by Tesla Inc. on a trademark infringement suit. The court will hear the case on Thursday.
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