EV FINANCING
EV Industry seeks incentives, funds for infrastructure, tax rationalisation from Budget Finance Minister Sitharaman's budget preparation raises EV sector optimism. Expected measures include FAME-3, charging infrastructure funds, localization incentives, renewables integration, priority lending, reduced GST. Tandon stresses 2030 goals n...
14 Jul, 2024, 05.02 PM ISTAmid demand slowdown, EVs plug into PE recharging infrastructure Private equity firms are increasing investments in India's electric two- and three-wheeler industry amidst a slowdown in electric passenger vehicle sales. Total funding in the first half of 2024 reached $754 million. Electric two-wheeler sales are o...
14 Jul, 2024, 05.11 AM ISTUP'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 t...
12 Jul, 2024, 05.30 AM IST
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...
11 Jul, 2024, 02.03 PM ISTElectric 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 subscripti...
11 Jul, 2024, 01.08 PM ISTGreaves Finance appoints P. B. Sunil Kumar as CEO to accelerate EV financing Greaves Finance, a Greaves Cotton subsidiary, appointed PB Sunil Kumar as Executive Director and CEO effective July 3, 2024. He will advance financing for electric two-wheelers via the evfin platform. With 25 years' experience, including positions a...
04 Jul, 2024, 07.13 PM ISTTesla unlikely to move forward with India investment, Musk's execs cease contact: Report Tesla Inc. is unlikely to pursue new investments in India in the near future, sources familiar with the matter said. Following Elon Musk's postponed visit and lack of further communication, Indian officials believe Tesla faces financial constraints....
04 Jul, 2024, 03.17 PM ISTTesla deliveries set to fall for second straight quarter The company is expected to deliver 438,019 vehicles for the April to June period, according to an average estimate based on forecasts from 12 analysts polled by LSEG, seven of whom slashed their expectations in the past three months. The EV maker is...
02 Jul, 2024, 09.51 AM ISTHow financing is turning out to be a bigger roadblock for EVs Electric vehicle financing presents varying rates across different vehicle types, with banks and NBFCs playing a crucial role in offering competitive options. Understanding the evolving landscape of interest rates and the influence of factors like E...
27 Jun, 2024, 05.47 PM ISTBharat Forge's Amit Kalyani on what's wrong with India's EV model and whether green hydrogen is the silver bullet The London session emphasized innovative EV approaches, green financing, and electrification for energy transition. It celebrated the London Stock Exchange's role in supporting Indian companies and capital flows, showcasing financial expertise for I...
25 Jun, 2024, 10.36 PM ISTBrookfield targets USD 10 billion investments in renewable sector Canada’s Brookfield Asset Management plans to triple its investments in India’s renewable energy sector to over $10 billion within the next three to four years. The firm is also exploring opportunities in electric vehicles and green hydrogen. With a...
25 Jun, 2024, 11.24 AM ISTScepticism drives EVs to a disadvantage over ICEs when it comes to financing India navigates the financing challenges of electric vehicles (EVs) amidst climate change fervor. While electric passenger vehicles (e-PVs) benefit from competitive rates akin to Internal Combustion Engine (ICE) vehicles, e-two-wheelers face higher ...
24 Jun, 2024, 05.54 PM ISTBII bullish on Indian EV ecosystem, expects to invest USD 300 mn in 3 yrs: MD Abhinav Sinha Abhinav Sinha of British International Investment envisions India surpassing China in EV adoption by 2030, ahead of Europe and the US, driven by government support and cost considerations, emphasizing the country's potential for significant growth i...
23 Jun, 2024, 11.32 AM ISTCanada prepares potential tariffs on Chinese EVs after US and EU moves Canada prepares new tariffs on Chinese electric vehicles to align with US and EU actions. Pressure on Trudeau to follow Biden's lead. Concerns over China's overproduction of EVs. Ontario Premier calls for matching tariffs to protect Canadian jobs.
21 Jun, 2024, 12.41 PM ISTJSW MG Motor India partners with Ecofy for EV financing JSW MG Motor India has partnered with Eversource Capital-backed NBFC Ecofy to offer financing and leasing solutions for up to 10,000 JSW MG electric vehicles over the next three years. The partnership includes loan options and leasing arrangements f...
20 Jun, 2024, 01.18 PM ISTView: FAME III, tax rationalization, PLI tweak & more - What the Indian EV sector needs from Budget 2024-25 India, as per IBEF, is the world’s third-largest automobile market and supports the EV 30@30 Campaign. The Finance Minister, Smt. Nirmala Sitharaman, will table the Union Budget 2024-25 next month.
19 Jun, 2024, 11.11 AM ISTView: EV financing should be cheaper than ICE financing The financial infrastructure for commercial vehicles is built around ICE vehicles, hindering EV adoption. EV financing faces challenges due to uncertain residual value, battery concerns, and higher interest rates. Small operators struggle with highe...
12 Jun, 2024, 11.52 AM ISTSlowing EV sales are upending banker climate strategies The global electric vehicle market faces challenges as China leads in EV development, impacting sales in Europe and US. Policy interventions are expected due to China's dominance and US tariff increases on Chinese imports.
22 May, 2024, 09.16 PM ISTSupport to three EV 2-wheeler makers may be restored The government after an initial probe into violation of vehicle localisation norms mandated under the Faster Adoption & Manufacturing of Electric Vehicles in India (FAME India) scheme issued notices for recovery of ₹469 crore subsidy distributed to ...
22 May, 2024, 12.44 AM ISTM&M's Rs 12,000 crore electric plan has charged up Dalal Street Mahindra & Mahindra's stocks surged on the back of surpassing estimates, unveiling ambitious electric vehicle plans, and a prospective target price upgrade. The company greenlit a hefty Rs 12,000 crore investment into its electric division over thre...
17 May, 2024, 11.23 AM IST