Mention
Japan’s Orix Corp partners with Sun Group for solar business in Indiaedit
Sun Group, a leading principal investor in emerging markets, has formed a joint venture partnership for its distributed generation (DG) focused solar business, Sun Renewables, with Orix Corporation, one of the largest Japanese financial services groups and the largest solar developer in Japan.
Publication: Business Standard
Maini Group expects Rs1,000 crore turnover in 3 years, bets on aerospaceedit
The Maini Group of companies, the creator of India’s first electric car Reva, expect to earn Rs600-650 crore in turnover this year and aim to hit the Rs1,000 crore mark in three years, a top executive said. Maini, which is into various businesses ranging from automobiles to logistics, expects its currently small aerospace and electric buggy divisions to account for a larger share of that overall revenue pie going ahead.
Publication: Live Mint
Industry
Be tech, fuel neutral: SIAM tells govtedit
Apex automobile industry body, the Society of Indian Automobile Manufacturers (SIAM), has expressed reservations about the latest road map being worked upon by the Indian government. The government’s think-tank NITI Aayog recently came out with its draft proposal to introduce a new mobility policy which is strongly tilted towards electric vehicles (EVs).
Publication: Autocar India
Auto sector investment on new regulations to be Rs 1 lakh crore: SIAMedit
Indian auto sector is expected to invest around Rs 1 lakh crore for upgrading products to meet various upcoming regulations related to emissions, safety and fuel efficiency, according to industry body SIAM. From October this year, all new models will have to meet offset and side crash test norms, which will become mandatory for all models by 2019.
Publication: The Economic Times
EVs are the future but petrol engines won’t die: Volvo Carsedit
Swedish car-maker Volvo Cars will now focus its strategy towards bringing in electric and plug-in hybrids and the company confirms that its first electric model will be a 40-series-sized car for global markets. It was in April 2017 when Swedish car maker Volvo Cars said that the company will build its fully electric car in China that will go on sale in 2019.
Publication: ET Auto
NITI Aayog Pushes India To Become An All EV Nation By 2030edit
Government think-tank NITI Aayog this week recommended lowering taxes and interest rates for loans on electric vehicles (EVs). The body has also suggested capping sales of conventional cars, signaling a dramatic shift in policy in one of the world’s fastest-growing auto markets.
Publication: Business World
Government working on new mobility policyedit
This would also involve capping sales of conventional cars, thereby signalling a dramatic shift in policy in India, one of the world’s fastest growing auto markets which in FY’16-17 crossed three million sales in the passenger vehicle market. According to Reuters, a 90-page draft report has suggested that the government open a battery plant by the end of 2018 and use tax revenues from the sale of petrol and diesel-engined vehicles to set up charging stations for EVs.
Publication: Autocar India
After Niti blueprint for shift to electric vehicles, govt eyes bulk procurementedit
Days after Niti Aayog proposed to shift to electric vehicles by 2032, the government has already set wheels in motion for the proposal. The government is eyeing bulk procurement for e-vehicles and is in talks with private players for same, according to a CNBC-TV18 report.
Publication: Money Control
Solar power tariff set to fall below Rs2.75 per unit in Rajasthan solar auctionedit
India’s solar power tariffs took a further nose dive with bidders quoting a price below Rs2.75 per unit to set up 250 megawatt (MW) of capacity at Bhadla in Rajasthan. This price is lower than the average rate of power generated by the coal-fuelled projects of India’s largest power generation utility, NTPC Ltd, at Rs3.20 per unit.
Publication: Live Mint
India solar tariff drops below cost of coal-fired poweredit
Solar power tariffs appear to be on a free fall in India to find a new floor at Rs 2.62 per unit, some 18% lower than the average price of Rs 3.20 charged by India’s largest generation utility NTPC for electricity generated by its coal-fired plants. The historic low was quoted by Phelan Energy and Avaada Power during bidding for packages of 50 MW and 100 MW, respectively, of the fourth phase of Bhadla solar power project in Rajasthan.
Publication: The Times of India