HYDROGEN POWERED THREE WHEELERS
JSW Energy plans ₹1.15 L cr capex to diversify operations
JSW Energy announces a strategic shift towards becoming an energy products and services provider, with plans to invest ₹1.15 lakh crore in capital expenditure to achieve 20 GW generation capacity and 40 GWh storage capacity by 2030. The company is expanding its portfolio to include new energy solutions like green hydrogen and battery storage systems. JSW Energy's move aligns with industry trends as other players also diversify beyond power generation. Share prices closed higher at ₹736.5 on the BSE after the news.
What is the value proposition of a CNG bike vs EV & ICE models? Bajaj Auto’s Rakesh Sharma answers
An average customer earning Rs 30,000 to Rs 40,000 per month can expect to save about Rs 1,500 per month by using CNG as a fuel. Also, CNG, while still a carbon-based fuel, has far less carbon content, and to that extent, it is much more beneficial from an environmental point of view than diesel or petrol, says Rakesh Sharma, ED, Bajaj Auto.
SJVN to supply 4500 MW green energy to AM Green's green ammonia facilities
Greenko Group's subsidiary, AM Green, and SJVN Green Energy Limited (SGEL), a wholly owned subsidiary of SJVN, have signed a Memorandum of Understanding (MoU) for a long-term renewable energy supply agreement. Under the agreement, SGEL will provide 4,500 MW of carbon-free energy to power AM Green's forthcoming green ammonia facilities.
Bajaj Auto inaugurates its first overseas manufacturing facility in Brazil
Bajaj Auto opened a new manufacturing plant in Brazil to produce Dominar models and expand its global presence with partners like KTM AG and Triumph, targeting the growing Latin American two-wheeler market.
Brookfield 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 current portfolio of over 25 GW, Brookfield is the second-largest investor in India’s green energy assets. Through its new Catalytic Transition Fund, Brookfield aims to further its commitment to clean energy and transition projects in emerging economies, including India.
Auto industry body seeks cut in two-wheeler GST; SIAM suggests three-level slabs based on fuel types
Society of Indian Automobile Manufacturers (Siam) has requested a reduction in GST rates on two-wheelers in India. They proposed different slabs for different types of two-wheelers to lower the rates. Siam also wants the removal of the 3% cess on high cubic capacity bikes.
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Magenta Mobility joins hands with with Tata Motors, deploys 100 Ace EV
Magenta Mobility partners with Tata Motors to deploy over 100 Tata Ace EV units, including Ace EV and Ace EV 1000, as part of their MoU from October 2023. Maxson Lewis expresses excitement about their 'Ab Ki Baar Dus Hazaar' program aiming for 10,000 EVs by 2025. Vinay Pathak highlights the milestone in revolutionizing intra-city distribution.
Nifty 50 could scale new peak this week, believes Rajesh Palviya
There was uncertainty when the counting was happening. So, most of the bags moved to the defensive sector and in the defensive sector FMCG, pharma, these two pockets were majorly focused by the market participants.
Singapore-based Sembcorp to supply green ammonia to Japan from its India plant
Singapore-based Sembcorp Green Hydrogen Pte Ltd signed an agreement with two Japanese firms to supply green ammonia from its 200,000-metric tonne capacity plant in India.
FAME 3 rollout soon; Euler Motors fundraise
The next edition of the electric vehicle incentive scheme is likely to be unveiled within months of the new government taking charge. Details on this and more in today's ETtech Top 5.
Euler Motors raises Rs 200 crore from Piramal Alternatives, others
Euler Motors raised Rs 200 crore in funding led by Piramal Alternatives India Access Fund. The firm aims to become India's top electric commercial vehicle brand, with plans to expand to 40 cities by FY25.
Old empires could be the key to a new car future
Hydrogen, a vital element in water creation, is gaining traction as a fuel source for fuel-cell electric vehicles.
Japan's Toyota shows 'an engine born' with green fuel despite global push for battery electric cars
Toyota plans to introduce lean compact engines running on green fuels like hydrogen and bioethanol, paired with electric motors in hybrids. The company aims to push the world into carbon neutrality with optimized engines for the electrification era.
Hydrogen-powered private jets can cut emissions — If they can get off the ground
A 2021 report found that some private jets emit two tons of CO2 per hour — at least five times more pollution per passenger than commercial flights. That’s 50 times worse than trains.
Be selective in FMCG stocks, in infrastructure, wait for dips: Gurmeet Chadha
Gurmeet Chadha says one of the main issues with most EPC construction names is the working capital cycle and margins because the projects are long gestation, you do not know what commodity prices would behave and people have some memories of 2003 to 2008 when there was euphoria and followed by a 10-year hiatus.
Buy industrials on dips; top 2 bets in two-wheeler space: Deven Choksey
Deven Choksey highlights the importance of market corrections for safe investments. He advises on potential buy opportunities in companies like Tata Technology, Reliance, Tata Power during corrections for better returns.
Data centres, EVs and green hydrogen to create upside for long-term power demand growth: Nikhil Nigania
For solar, you have the likes of Waaree, etc. And for wind, you have the equipment suppliers again in the sense of Suzlon and Inox. So, these I would say are the broad spectrum of power equipment suppliers in the Indian landscape.
Our focus is to be well-positioned and respond quickly to market changes: Rakesh Sharma, Bajaj Auto
So, I think there are a multitude of global factors which are driving the up and down of the cell cost. So, it is very-very difficult to predict. In addition to that, you also have alternate technologies like sodium or hydrogen cells which are on the horizon when you take a period like five-six years, they would probably be getting commercialized in that time horizon.
Tesla Power India, E-Ashwa Automotive to launch India’s 1st electric two-wheeler with fire safety technology
Tesla Power India Pvt. Ltd. & E-Ashwa Automotive partner to launch India's first electric 2W vehicle with a built-in fire suppressant system, aiming to enhance safety standards for EVs in the country. Abhinav Bhadola and Tesla bring expertise in electric vehicles.
Passenger vehicle sales reach record high in FY24, two-wheeler sales grow by 13%
4.22 million units of passenger vehicles sold in FY24. Two-wheeler sales grew by over 13% to 17.9 million units, while commercial vehicle sales remained flat at 967,000 units. The industry shifted to 20% ethanol blend, boosting electric vehicle demand. Optimism prevails with positive macroeconomic outlook.
RIL to lead massive Rs 1 lakh crore investment in green hydrogen, ammonia units at Kandla
Reliance Industries Ltd (RIL), Larsen and Toubro (L&T), Greenko Group, and Welspun New Energy are planning to establish green hydrogen and green ammonia units at Gujarat’s Deendayal Port Authority (DPA) in Kandla, according to informed sources. The project, estimated to attract investments up to Rs 1 lakh crore, marks one of the largest investments in India's energy infrastructure.
Play power theme with 3 stocks for next one year; IT largecaps to do well: Rahul Shah
Rahul Shah analyzes the market performance post Q3 earnings, highlighting the success of largecap IT stocks like TCS and Wipro. He suggests investments in power sector stocks NTPC, PFC, and REC. Auto sector, especially two-wheelers, shows promising growth. Shah says: We still expect the momentum to continue in the two-wheeler spaces going forward and I would remain invested in this two-wheeler theme."
GAIL to commission its first green hydrogen project in April, sources say
The 10-megawatt proton exchange membrane electrolyser for the green-hydrogen producing unit at the Vijaipur complex in Madhya Pradesh state has been imported from Canada, company sources said.
New scheme announced to push sale of electric two-wheelers & three-wheelers in India
According to Heavy Industries Minister Mahendra Nath Pandey, Rs 500 crore is being allocated for the Electric Mobility Promotion Scheme (EMPS), 2024. This scheme is valid for four months from April 1 onwards.
Adani Green hydrogen unit aims to get up to $3 billion in loans
Adani New Industries plans to raise $3 billion for capital expenditure through offshore loans. It aims to become a major player in India's green hydrogen push and produce clean fuel in Gujarat. The company will invest $50 billion over 10 years to achieve net zero emissions by 2070. Adani New Industries plans to begin production of the clean fuel from 2027 in the western state of Gujarat, and could invest as much as $50 billion over 10 years, according to the company. Proceeds from the fundraising could be used to support this plan, the people said.
Torrent, three others in race for Stride Climate
Green energy producers, including Torrent Power, Sembcorp, JSW Neo Energy, and Actis, are in talks to acquire Stride Climate Investments. Macquarie Group is also selling Vibrant Energy. India's renewable energy capacity is expected to increase to 170 GW by March 2025.
Omega Seiki Mobility’s group co to launch hydrogen powered 3-wheelers
Hydrogen Intelligence SA, a Paris-based company, plans to commercially produce green hydrogen-powered three-wheelers in India next year. The vehicles will be tested on the Lemans racetrack in Paris. The India subsidiary of Hydrogen Intelligence will make a batch of 100 three-wheelers for a pilot run in various states before commencing commercial production in Chennai.
Auto retails jump 21% in December; CY23 growth in double digits: FADA
In December, automobile retail sales recorded a 21% YoY growth, as per data from the Federation of Automobile Dealers Associations (FADA). Two-wheelers (2W) witnessed a notable surge of 28%, three-wheelers (3W) grew by 36%, and passenger vehicles (PV) saw a steady increase of 3%. Tractor and Commercial Vehicle (CV) sales also rose by 0.2% and 1.3%, respectively.
Vehicle retail sales in India surge 21.14% in December, two-wheeler segment leads growth
According to data collected from the VAHAN portal of the Ministry of Road, Transport & Highways (MoRTH) by the Federation of Automobile Dealers Association (FADA), a total of 1,990,915 vehicles were sold last month. This represents a growth of 21.14% compared to the 1,643,514 units sold in the same period the previous year.
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