INDIA EV POLICY
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.
Tesla 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. India now focuses on local automakers like Tata Motors and Mahindra & Mahindra to boost its nascent EV market.
What's draining the juice out of electric two-wheeler makers' battery
Sales of e2Ws plummet due to policy inconsistencies, supply chain issues with Chinese suppliers, and expectations for FAME III rollout, impacting top manufacturers like Hero Electric, Okinawa, and Ampere.
EV companies seek stability in incentives ahead of FAME-III rollout
The comparison between FAME-II and EMPS subsidies is crucial, as highlighted by a report from the Federation of Automobile Dealers Associations, emphasizing the importance of stable subsidy regimes for the EV industry's growth.
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.
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Want continuity of policy supporting EVs for next 8-10 yrs: Mercedes-Benz India MD & CEO
Mercedes-Benz India's CEO Santosh Iyer emphasized the need for long-term policy continuity supporting electric mobility for 8-10 years to plan better for zero-emission vehicles. He highlighted the company's increased EV penetration and upcoming launches, urging clarity on GST benefits and infrastructure investments in the Union Budget for sustained growth and commitment to emissions-free mobility.
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.
Roadmap to EV 30@30: How can India achieve this ambitious target
India's climate change strategy includes the EV30@30 initiative, aiming for 30% of new vehicle sales to be electric by 2030. This transition enhances air quality, reduces oil dependence, and fosters economic growth. While challenges like limited commercial EV options and charging infrastructure persist, government incentives and rising private investments are accelerating EV adoption.
VinFast making a tiny EV for about Rs 8 lakh to change its fortunes. Is it coming to India?
Designed specifically for the Vietnamese and other Asian markets, the VF3 is priced for "mass appeal", according to VinFast. The VF3 might also appeal to Indian families looking for a compact car with a range suitable for getting around in India's crowded cities.
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.
Hyundai has the same fear like Tata Motors & Mahindra about petrol, diesel cars
Hyundai has joined Tata Motors and Mahindra & Mahindra in opposing tax breaks for hybrid vehicles in India, arguing it could disrupt the market for petrol and diesel cars. Japanese carmakers support lower taxes on strong hybrids, citing emissions reduction and fuel efficiency benefits. The debate underscores the auto industry's shift towards more sustainable technologies.
Hyundai Motor India plans to launch EV models in future; electric version of Creta by Q4 FY25
Hyundai Motor India Ltd plans to launch four electric vehicle models, including the Creta EV, in the final quarter of the current fiscal year, as outlined in its preliminary IPO filings with Sebi. The company aims to enhance the price competitiveness of its EV lineup by focusing on local production capabilities for critical components such as cells, battery packs, power electronics, and drivetrain, and establishing a localized EV supply chain.
Diversion ahead? For Chinese EVs, the road may fork out to India
The European Union's decision to hike tariffs on cheap electric vehicles made by Chinese companies has sparked concerns about unfair competition and the impact on the global auto sector. The move could lead to a reshuffling of the market dynamics, with potential consequences for both Chinese and European automakers.
India Energy Storage Alliance to bring 'white paper' on sustainable future including renewables
India Energy Storage Alliance to release white paper at IESW 2024 addressing EV, cleantech, green hydrogen, and battery storage challenges, aiming to make India a global cleantech hub.
Ahmedabad may mandate EV charging in new buildings
Ahmedabad Municipal Corporation (AMC) plans to make EV charging stations mandatory in new buildings to promote electric vehicles (EVs). They are offering incentives for installing charging stations and converting their vehicle fleet to EVs in alignment with the Gujarat Electric Policy 2021.
Tesla coming to India? Elon Musk drops major hint
Elon Musk congratulates Narendra Modi on his re-election. BJP and allies win 240 seats in the 2024 Lok Sabha elections. Oath ceremony on June 09, 2024 at Rashtrapati Bhavan.
India offers USD 500 billion investment opportunities in clean energy, other sectors by 2030
New Delhi India offers huge investment opportunities worth over USD 500 billion, particularly in clean energy value chain including renewables, green hydrogen and EV, by 2030, the commerce ministry said on Thursday. This was stated by Commerce Secretary Sunil Barthwal, who is in Singapore for the two-day meet of the Indo-Pacific Economic Framework for Prosperity (IPEF) Clean Economy Investor Forum.
Strong hybrids need to replace ICE models and not EVs: Maruti Suzuki executive
Maruti Suzuki India executive emphasizes strong hybrids over fossil fuel-powered models and pure electric vehicles (EVs) for auto industry sustainability.
Govt to hold 2nd meet with stakeholders to issue draft guidelines for new EV policy
The Ministry of Heavy Industries is drafting guidelines for the new electric vehicle policy to attract global automakers like Tesla. Automakers, including Vietnam's Vinfast, must invest as per the new norms to avail incentives under the Scheme to Promote Manufacturing of Electric Passenger Cars in India (SPMEPCI) approved on March 15, 2024.
Investments made in creating plant and machinery to qualify for sops under new EV policy
SMEC is aimed at incentivising investments in setting up electric vehicle (EV) manufacturing capacity by lowering import duties on a select number of cars. Under the new EV policy, announced in March 2024, beneficiaries need to invest $ 500 million for setting up electric car manufacturing facilities. They also need to comply with up to 50% minimum domestic value addition commitment.
Japanese automakers least prepared for EV transition: Think-tank
The four automakers with the lowest proportion of forecasted EV production in 2030 are all from Japan (Suzuki at 10%, Honda at 24%, Toyota at 29% and Mazda at 30%), with Toyota, Mazda and Suzuki all receiving the lowest performance, says InfluenceMap in its latest report titled, “Automakers and Climate Policy Advocacy: A Global Analysis.
Expecting good response from many companies on EV policy: DPIIT Secy
India expects positive responses from automobile companies on its electric-vehicle policy to attract global players like Tesla through tariff tweaks. The government aims to encourage manufacturers to establish bases in India without incurring costs. Duty concessions and investment commitments are key incentives for setting up manufacturing units. Companies can import CBUs at reduced customs duty.
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.
New e-car norms on way as India looks to build a China Wall on EV street
The development comes weeks after Tesla chief Elon Musk cancelled his much-hyped visit to India in April. Tesla is yet to communicate its India plans to the government under the new EV policy, the official said. Musk, who was scheduled to visit India April 21-22, postponed his visit at the last moment, citing “very heavy Tesla obligations”.
Tesla 'silent'; yet to communicate its India plans: Official
American tech billionaire Elon Musk, who was scheduled to visit India on April 21-22, had postponed his visit at the last moment citing "very heavy Tesla obligations".
Govt to come out with detailed guidelines for investment under EV policy
The government, through the Ministry of Heavy Industries, is creating detailed guidelines for companies seeking investments under the electric-vehicle policy. The guidelines will cover duty concessions, setting up manufacturing units, and incentives for auto firms applying under the policy.
Stellantis considering India manufacturing of affordable EVs
The group, which owns several brands including Chrysler, Citroën, Fiat and Jeep, is considering locally manufacturing affordable electric vehicles from its Chinese joint venture partner Leapmotor at its facility in Thiruvallur, Tamil Nadu.
Powering ahead: The role of renewable energy in electric vehicle charging infrastructure
India aims for a sustainable future with EVs & renewable energy. Challenges include sparse charging stations & policy reforms. By 2030, target is 500 GW renewable energy for a greener tomorrow.
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