EV BUSES
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.
Budget 2024: 'More FAME, Less GST' - What the EV industry wants from FM Sitharaman
Industry players are looking forward to potential GST concessions and incentives for electric vehicles in the upcoming Budget FY25. Expectations include policies like FAME 3.0 to enhance the EV ecosystem, promote R&D, and support local manufacturing for sustainable transportation in India.
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.
There is more to EV ecosystem than just auto ancillaries: 7 stocks that don’t come at the first thought but gain equally or more
Even before the stocks of companies which were entering into the electric vehicle ( EV) space got re-rated, it was the auto ancillary which got re-rated as they are expected to be the biggest beneficiary of the changing landscape. But the fact is that there are more companies which play an important part in the development of the EV eco system. For example a specialty chemical company which is a supplier to battery makers. But there are more stocks , which wont come instinctively, because of the fact that we don't think that their products have anything to do with EV, but reality they have a big stake in the system and play a critical role as some of them are producing chemical or products which are currently get imported from China.
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.
India's EV plans to get a policy boost as govt may fast-track 3 big-ticket schemes
The Indian government plans to fast-track three major electric vehicle schemes in its first hundred days, including incentives for local battery production and electric bus procurement under FAME 3. Aimed at boosting clean mobility, these initiatives aim to propel India towards net-zero goals amid rising global demand for EVs.
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Retrofitting of inter-city diesel buses can generate over 50,000 jobs
Dr. Charan Singh and Davinder Sandhu emphasize the economic and environmental benefits of retrofitting. It offers a pragmatic solution for sustainable urban transport, driving economic revitalization and environmental improvements. Retrofitting leverages existing infrastructure while transitioning towards cleaner mobility, showcasing tangible progress in achieving sustainability goals.
Capture the theme at the right time: Is investment in EV a good long-term bet?
The rise in EVs can be attributed to two main factors, first, a substantial global push by governments to achieve net zero emissions through various policy measures; and second, a nearly 90% decrease in battery costs over the past ten years, which has made EVs more affordable and, as a result, brought them closer to cost parity with internal combustion engines (ICE)
Budget 2024: Hi-tech thermal plants may get Rs 6,000 cr viability support
Budget 2024: The Union budget for 2024-25 is expected to include a support scheme for setting up 800 MW coal-based power plants using Advanced Ultra Supercritical (AUSC) technology. The finance ministry is evaluating a proposal for ₹6,000 crore viability gap funding (VGF) and a ₹3,500 crore payment security mechanism for electric buses. The project, based on indigenous technology developed by a consortium of Bharat Heavy Electricals Limited, Indira Gandhi Centre for Atomic Research, and NTPC, is expected to cost upwards of ₹15,000 crore at completion.
Revving up: Fuelled by PLI, Indian automakers eye global EV space, targeting Europe & other developed markets
Indian auto manufacturers are seizing the export opportunity in the electric vehicle (EV) market, driven by increasing demand for cleaner mobility in developed countries and government support. Companies like Maruti Suzuki and Hero MotoCorp are gearing up to export their EV models to Europe, leveraging India's frugal manufacturing capabilities. With India's production-linked incentive scheme and alignment with global standards, automakers aim to challenge Chinese dominance in the EV sector and establish India as an EV export hub.
BIS introduces new safety standards for EVs in India
Bureau of Indian Standards (BIS) introduces safety guidelines for electric vehicles in India, focusing on powertrain components. New rules, IS 18590: 2024 and IS 18606: 2024, aim to enhance safety in L, M, and N vehicle categories.
Japan’s Mitsui invests Rs 200 crore in Pune-based EKA Mobility
EKA (Pinnacle Mobility Solutions) Mobility - one of the commercial vehicle manufacturers approved under the Champion OEM (Original Equipment Manufacturer) Scheme & EV component manufacturing scheme of the Rs 25,938 crore auto PLI policy - has a strategic partnership with Japan’s Mitsui and Netherlands-based VDL Groep to manufacture electric buses and light commercial vehicles.
Cost of FAME 3: Meet local sourcing norms or face penalty
Companies certifying vehicles for subsidies under FAME 3 - scheduled to be announced in the upcoming budget - will have to undergo a techno-commercial audit twice a year to ascertain they are meeting localisation guidelines. If they come up short, they will have to pay penalties.
EV sales soar 40.31 per cent in FY24, two-wheelers lead the charge
Electric two-wheelers (E2Ws) and electric three-wheelers (E3Ws) were the main contributors, representing 94 per cent of all EV sales. The E2W segment led the charge, selling 1,009,356 units, showing a 29 per cent year-on-year growth and capturing 57.60 per cent of total EV sales. The introduction of advanced models comparable to internal combustion engine vehicles played a crucial role in this growth.
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.
Not so well known stakeholders of EV ecosystem: 8 stocks that don't come instinctively, 3 with an upside potential of more than 18%
We also have a whole list, but we have separated the eight companies, just because these companies are not the names which one would instinctively think about and probably they may have more to go as they form this index.
FAME 3 likely to be rolled out soon with Rs 10,000 crore outlay
The third edition of the Modi government's FAME scheme, worth Rs 10,000 crore, will focus on electric two-wheelers, three-wheelers, and government buses. The inclusion of electric cars for institutional buyers like taxi aggregators is undecided.
Amitabh Kant on Tesla: 'India won't make any further changes in its EV policy to suit a specific company'
India can'on being asked why Tesla didn't come to India after the CEO announced an India visit in April but cancelled at the last moment.
Tesla pullback puts onus on others to build electric vehicle chargers
Musk's decision to lay off the 500-member team responsible for installing charging stations, and to sharply slow investment in new stations, baffled the industry and raised doubts about whether the number of public chargers would grow fast enough to keep pace with sales of battery-powered cars.
Okaya EV MD Anshul Gupta reveals company's future strategy, says not in a price war with Ola
Okaya launches premium brand Ferrato with Disruptor electric bike. Anshul Gupta discusses future plans, FAME subsidy, market share changes, network expansion. Focus on premium products, impact of subsidies, resale value, and EV chargers standardization.
Electric vehicles will start to cut emissions and improve air quality in our cities - but only once they're common
We would get more immediate benefit by focusing on electrifying buses, which are a surprisingly large source of air pollution, and finding ways to cut rapidly growing emissions from diesel trucks.
Macquarie's $1.5 bn India EV platform to focus on fleet electrification
Australia's Macquarie Group has launched an EV financing platform called Vertelo for India, focusing 95% of its $1.5 billion investment on electrifying commercial vehicle fleets. The platform will offer financing, fleet management, and charging infrastructure solutions. The remaining 5% will go towards charging infrastructure and other requirements.
Buses will see more traction in electric technology as compared to trucks: Vinod Aggarwal, VECV
It was basically recovering from the COVID period. And now, I would say you are right that the nominal GDP growth is 12%, 13%, the CV industry overall should grow better than that and we will see that happening I think in the future, it will happen.
Norms for swappable e-bus batteries; Avanse, Subko raise funds
The government is framing rules to enhance interoperability for batteries used in electric buses. This and more in today’s ETtech Top 5.
Jindal Stainless to supply special stainless steel grade to JBM Auto
Jindal Stainless will provide high-end stainless steel grade tubes to JBM Auto for manufacturing 500 lightweight electric buses. This partnership aims to enhance energy efficiency and reduce the transport sector's carbon footprint. JSL Managing Director Abhyuday Jindal emphasized the importance of greener public transport. Collaboration with JBM Auto will support sustainable electric vehicles.
CM Adityanath flags off 75 EVs in Ayodhya ahead of Ram temple consecration
Extending Makar Sankranti wishes to the people of the state, Adityanath said, "The country and the world are eager to know when they will get an opportunity to see Lord Shri Ram in Ayodhya. We are fortunate that we are getting the blessings of the Lord here. It is our responsibility to first make Ayodhya look clean and beautiful. Along with facilities like infrastructure, widening of roads, railway line and airport, electric buses will work to brighten Ayodhya.
Tata Motors shares jump 6% to double money in 2023. What's fueling the rally
A total of 2,11,18,340 Tata Motors equity shares worth Rs 1,655.5 crore changed hands so far. Meanwhile, the rally in the stock was also led by the government's plan to replace 800,000 diesel buses, more than a third of all buses on the road, with electric ones over the next seven years.
E-buses expected to account for 11-13 pc of new bus sales by FY25: Report
"ICRA foresees electric buses (e-buses) to be at the forefront of India's electrification drive, with the segment expected to witness healthy traction going forward. ICRA estimates e-buses to account for 11–13 per cent of new bus sales by FY2025," it said in a report.
Himachal Pradesh announces fifty per cent subsidy on e-taxis and e-buses
Chief Minister Sukhvinder Singh Sukhu said the government is committed to providing employment to the youth and making Himachal a green state by 2026, and a fifty per cent subsidy will be given to unemployed youth for the purchase of e-taxis and e-buses. Besides, no collateral guarantee will be required for raising loans from the banks.
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