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Electric Vehicle

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What is Electric Vehicle

An electric vehicle (EV) is one that operates on an electric motor, instead of an internal-combustion engine that generates power by burning a mix of fuel and gases. Therefore, such as vehicle is seen as a possible replacement for current-generation automobile, in order to address the issue of rising pollution, global warming, depleting natural resources, etc. Though the concept of electric vehicles has been around for a long time, it has drawn a considerable amount of interest in the past decade amid a rising carbon footprint and other environmental impacts of fuel-based vehicles.
 
In India, the first concrete decision to incentivise electric vehicles was taken in 2010. According to a Rs 95-crore scheme approved by the Ministry of New and Renewable Energy (MNRE), the government announced a financial incentive for manufacturers for electric vehicles sold in India. The scheme, effective from November 2010, envisaged incentives of up to 20 per cent on ex-factory prices of vehicles, subject to a maximum limit. However, the subsidy scheme was later withdrawn by the MNRE in March 2012.
 
In 2013, India unveiled the 'National Electric Mobility Mission Plan (NEMMP) 2020' to make a major shift to electric vehicles and to address the issues of national energy security, vehicular pollution and growth of domestic manufacturing capabilities. Though the scheme was to offer subsidies and create supporting infrastructure for e-vehicles, the plan mostly remained on papers. While presenting the Union Budget for 2015-16 in Parliament, then finance minister Arun Jaitley announced faster adoption and manufacturing of electric vehicles (FAME), with an initial outlay of Rs 75 crore. The scheme was announced with an aim to offer incentives for clean-fuel technology cars to boost their sales to up to 7 million vehicles by 2020.
 
In 2017, Transport Minister Nitin Gadkari made a statement showing India’s intent to move to 100 per cent electric cars by 2030. However, the automobile industry raised concerns over the execution of such a plan. The government subsequently diluted the plan from 100 per cent to 30 per cent.
 
In February 2019, the Union Cabinet cleared a Rs 10,000-crore programme under the FAME-II scheme. This scheme came into force from April 1, 2019. The main objective of the scheme is to encourage a faster adoption of electric and hybrid vehicles by offering upfront incentives on purchase of electric vehicles and also by establishing necessary charging infrastructure for EVs.

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Latest Updates on Electric Vehicle

Former President Trump, the Republican candidate supported by Musk, has been critical of the Biden administration's EV policies and has said that he will "end the electric vehicle mandate" if he wins

Updated On: 24 Jul 2024 | 9:48 AM IST

While Maruti Suzuki retains a dominant market share in the petrol-powered affordable cars segment, given the size and range of the vehicle, the eVX is unlikely to be as affordable as Tata's Tiago EV

Updated On: 08 Dec 2023 | 1:49 PM IST

Union minister of road transport and highways Nitin Gadkari spoke to Nivedita Mookerjee in a fireside chat to talk about the road ahead for EVs

Updated On: 20 Jul 2023 | 9:21 PM IST

The sector faces a raft of challenges straddling funding, uneven growth, and differences in demand projection between automakers and other industry players

Updated On: 20 Jul 2023 | 8:43 PM IST

In the backdrop of Elon Musk-owned Tesla stepping up its India engagement, Gadkari said he was hopeful of Tesla entering the country

Updated On: 19 Jul 2023 | 11:31 PM IST

This capacity increase is part of Epsilon's commitment to invest Rs 9,000 crore in India

Updated On: 07 Jul 2023 | 12:25 AM IST

Finance Minister Niramala Sitharaman first talked about the battery-swapping plan in her budget speech in February 2022

Updated On: 04 Jul 2023 | 1:00 PM IST

The EV industry seems to be geared up for the change

Updated On: 02 Jul 2023 | 7:53 PM IST

Musashi will collaborate with BNC Motors for expansion into the EV market

Updated On: 16 Jun 2023 | 7:25 PM IST

This comes after the state attracted nearly Rs 24,000 crore in investments in this space, creating almost 48,000 jobs during the pandemic period

Updated On: 16 Jun 2023 | 4:35 PM IST

Manufacturers are gradually emerging in a business dominated by assembly operations

Updated On: 14 Jun 2023 | 7:17 PM IST

As part of that strategy, the SoftBank-backed electric vehicle company on Saturday opened its 500th experience centre (EC) in Srinagar, Jammu & Kashmir

Updated On: 13 May 2023 | 6:08 PM IST

To pump in the amount over 10 years, install EV charging stations in next 5 yrs

Updated On: 11 May 2023 | 5:13 PM IST

The remaining Rs 287 crore will be released once the companies submit the details of the requirements, sources said

Updated On: 08 May 2023 | 10:38 PM IST

Controversy highlights hazards of subsidy-led manufacturing

Updated On: 01 May 2023 | 9:53 PM IST

The top 50 cities where Gogoro wants to operate account for 25 per cent of all the two wheelers - around 60 million

Updated On: 28 Apr 2023 | 9:02 PM IST

Concerns regarding strict domestic value addition (DVA) clauses in the scheme have been addressed in the SOPs

Updated On: 27 Apr 2023 | 8:06 PM IST

MG Motor India unveiled its compact EV Comet, which has a range of 230 km per charge, last Wednesday

Updated On: 24 Apr 2023 | 10:26 PM IST

Sodium-ion battery offers a potential low-cost alternative to lithium-ion battery for India and presents an opportunity to achieve energy independence

Updated On: 20 Apr 2023 | 10:05 PM IST

The industry body says while EV segment as a whole grew by 157% during FY23, govt policy should be clear on how much manufacturers can get and how to encash on the subsidy

Updated On: 05 Apr 2023 | 6:24 PM IST