Page 4 - Electric Vehicles

Delhi CM Atishi extends electric vehicle policy till March 31, 2025

Chief Minister Atishi on Thursday announced several cabinet decisions, including the extension of the Delhi Electric Policy till March 31, 2025. At a press conference here, Atishi said in the wake of poor air quality, the Delhi cabinet has decided to extend the EV policy and roll out subsidies and road tax exemptions pending from January 1. "Electric vehicles purchased on Jan 1, 2024, and after will get a subsidy and road tax exemption, which were halted by the BJP when Arvind Kejriwal was sent to jail," she said. Announcing another cabinet decision, the chief minister said the Delhi government has approved a grant of Rs 17 crore to the Delhi Scheduled Caste Finance and Development Corporation Limited (DSFDC) for paying pending salaries to its employees. Atishi also announced a four-year bachelor's program in optometry at a new wing at Guru Nanak Eye Centre.

EV sales' boom in China threatens to push gasoline demand off a cliff

There are still a lot of unknowns about how China's uptake of EVs will play out, such as whether full electrification can ever be achieved

Mahindra to invest Rs 4.5k cr for growth of two new electric brands

Mahindra & Mahindra has committed Rs 4,500 crore on the overall development, including the creation of production capacity, for the two new ground-up electric brands, a top company executive said on Wednesday. The Rs 4,500 crore investment is part of the Rs 16,000 crore capex the company has announced for the electric vehicle business between the FY22-27 cycle. The Mumbai-based auto major is creating production of capacity of 90,000 units per annum at its Chakan-based plant for the two ground-up 'Born Electric' models -- BE 6e and XEV 9e. "We have allocated Rs 4,500 crore investment for the two models. The investment would go into the overall development of the electric vehicles," Mahindra & Mahindra (M&M) Executive Director and CEO for auto and farm sectors Rajesh Jejurikar told reporters here. He noted that the production capacity at Chakan could be further scaled up to 1.2 lakh units per annum. The Mumbai-based auto major on Tuesday unveiled two models -- BE 6e and XEV .

Foxconn is likely to open its second-largest battery plant in Tamil Nadu

The Tamil Nadu government has approached the company with a proposal to offer 200 acres of land for the plant and incentives as talks reach final stages

Mahindra & Mahindra unit launches two new electric SUVs; share rises 3%

The uptick in the M&M share price came after the company announced that its subsidiary, Mahindra Electric Automobile Limited (MEAL), has launched two new electric Sports Utility Vehicles (SUVs)

EV leasing firm Alt Mobility raises $10 mn from Eurazeo, other investors

Commercial EV leasing and asset management firm Alt Mobility on Wednesday said it has secured USD 10 million funding in a Series A round led by European VC and PE funds and existing investor, Eurazeo. The latest funding round also saw the participation from other investors including Shell Ventures, Twynam Earth Fund and EV2 Ventures, Alt Mobility said. The fresh capital infusion would help the company in its next phase of growth including expanding the capabilities of its digital asset management platform and driving standardization of battery technology, among others, it said. "Alt Mobility has secured USD 10 million in a Series A funding round led by existing investor Eurazeo, and (it also) saw participation from other existing investors including Shell Ventures, Twynam Earth Fund and EV2 Ventures," the company said. Alt Mobility currently owns a fleet of 10,000 vehicles across 20 cities in India leased to fleet operators and individual drivers. The company said it is ...

India reshapes its workforce to plug into the electric vehicle era

TaMo to upskill half its workforce in 5 years; Tamil Nadu teams up with World Bank to fuel the transition

Mahindra & Mahindra unveils latest XUV 9e and BE 6e electric SUVs

The company claims a real-world range of over 500 km on a single charge for the 79 kWh battery pack, which supports fast DC charging of up to 175 kW

Auto industry to continue shift towards EVs despite Trump tax credit threat

If President-elect Donald Trump makes good on his threat to kill federal tax credits for electric vehicle purchases, it's likely that fewer buyers will choose EVs. Yet tax credits or not, auto companies show no intention of retreating from a steady transition away from gas-burning cars and trucks, especially given the enormous investment they have already made: Since 2021, the industry has spent at least $160 billion on planning, designing and building electric vehicles, according to the Centre for Auto Research. In campaigning for the presidency, Trump condemned the federal tax for EV buyers up to $7,500 per vehicle as part of a green new scam that would devastate the auto industry. His transition team is reportedly working on plans to abolish the tax credits and to roll back the more stringent fuel-economy rules that were pushed through by the Biden administration. It is far from clear, though, that the Trump administration could actually rescind the credits. Trump's argument o

Apple should learn a lesson from China's success in electric vehicles

Right now, China has an EV industry that the world envies and fears in equal measure

Ficci seeks PLI 2.0, tariff review to boost electric vehicle growth

For instance, eligibility for the auto original equipment manufacturer (OEM) PLI requires global group revenues of at least Rs 10,000 crore and investments in fixed assets of Rs 3,000 crore

Tamil Nadu focuses on EV revolution, ropes in World Bank to draw roadmap

This initiative coincides with the World Bank's broader efforts to support India's low-carbon transition

FICCI calls for GST cut on EV batteries and charging to boost growth

EV Committee chair points out that while EVs are taxed at 5%, batteries and charging services face an 18% GST rate

EV players seek GST cut on batteries, charging services to boost adoption

GST on batteries and charging services needs to be cut to keep electric vehicles competitive and boost customer adoption, FICCI Electric Vehicle Committee Chair Sulajja Firodia Motwani said on Tuesday. Speaking at the sidelines of FICCI National Conference on EVs here, she also stressed enhancing PM E-Drive corpus to support enhanced sales of EVs. "We would be making a recommendation to the GST Council to rationalise the GST taxation on EV-related areas," Motwani said. Elaborating on the demands, she noted, "Currently the GST on charging services is still 18 per cent which we would request to bring down to 5 per cent so that charging becomes more affordable to the consumers." Secondly, the GST on batteries should also come down to 5 per cent, Motwani, who is also the founder and CEO of Kinetic Green Energy & Power Solutions, added. "While EVs attract a GST of 5 per cent, GST on batteries is 18 per cent. The request is to reduce it to 5 per cent so that when consumers buy ...

Uttar Pradesh govt seeks private investment in EV infra, green mobility

While UP will provide government land for the outlets, the private partner will make the investment

Industry needs to drive in more EVs to enhance adoption: Advisor to PM

The automotive industry needs to do more in terms of driving in new electric cars to enhance customer response enabling higher adoption of such models, Advisor to Prime Minister at PMO Tarun Kapoor said on Tuesday. Speaking at the FICCI National Conference on Electric Vehicles here, he noted that the government on its part will look at all aspects, including taxation issues so that the industry remains viable. "In four-wheelers, what I think is that industry itself has to play a much, much larger role than the government because we need more products. We need better products, and we need more publicity," Kapoor said. He noted that the government is working towards enhancing charging infrastructure with even the PM-E Drive scheme laying a lot of emphasis on it. "But on product and on getting more customer satisfaction and to give more choice, the industry has to plan a much bigger role," Kapoor said. On taxation issues, he stated: "So from the government, we can't really commit ...

Xiaomi raises 2023 EV delivery target to 130k units on strong demand

EV and plug-in hybrid sales in China have grown to account for over half of overall sales in the world's largest auto maker

Wardwizard partners with SpeedForce to boost Joy e-bike service, reach

SpeedForce, which operates in over 350 locations and services around 150 vehicles per outlet monthly, will now provide sales and service support for Joy e-bikes

Jaguar's luxury electric sedan undergoing road testing, debut on Dec 2

In Jan 2024, the luxury car maker announced its plans to transition to fully electric car line up by 2025

Donald Trump's transition team aims to kill Biden admin's EV tax credit

Elon Musk, one of Trump's biggest backers and the world's richest person, said in July that killing the subsidy might slightly hurt Tesla sales but would be "devastating" to its U.S. EV competitors