Mention
FAME II isn’t optimal, glosses over demand generation: Rajiv Bajajedit
Putting the cart before the horse is how Bajaj Auto’s Managing Director Rajiv Bajaj describes the government’s plan for accelerating the adoption of electric cars. His criticism of the policy is based on one point: If there is no demand, what’s the point of speeding up manufacturing?
Industry
FAME-II to impact electric 2-wheeler segment most: Crisiledit
Electric two-wheeler segment is expected to face a rough road in the initial phase of the FAME II Scheme with the exclusion of lead battery-powered such vehicles, as per a Crisil impact note. The central government late last month laid out the eligibility criteria for electric buses, passenger vehicles, three-wheelers and two-wheelers to avail the incentives under the ‘Faster Adoption and Manufacturing of Hybrid and Electric Vehicles in India’ (FAME-II) scheme.
Shared Mobility From Ownership to User-shipedit
M & M and ride – sharing firm Ola have tied up with the government to build an electric mass mobility ecosystem in Nagpur that will bring one million EVs on road by 2022, while Hyundai and Kia have invested $300 million in Ola. EVs are cost-effec- tive for people who drive more in a day, says Anand Shah, Senior VP, Ola and the head of its EV business, adding they make sense for fleet operators as op- erating costs are way lower than standard fuel variants.
India could achieve high penetration of electric vehicles by 2030: Niti Reportedit
India could achieve high penetration of electric vehicles (EV) by 2030 on the back of success of FAME II and other measures, according to a Niti Aayog report. The penetration of EV vehicles could reach around 80 per cent in case of two-wheelers and 30 per cent for private cars, the report — India’s Electric Mobility Transformation: Progress to Date and Future Opportunities — by the Niti Aayog and the Rocky Mountain Institute.
Competition
Micromax founder enters electric mobility businessedit
Rahul Sharma, the co-founder of one of India’s most successful homegrown mobile brands — Micromax — is venturing into the smart mobility sector with his new venture: Revolt Intellicorp Pvt. Ltd. Set up with a personal investment of Rs 400-500 crore, the firm will produce electric motorcycles and the first of its products is expected to hit the roads by June this year.
International
VW seals 10-year lithium deal for electric carsedit
German car behemoth Volkswagen said Friday it had secured 10 years’ worth of lithium for electric car batteries from Chinese manufacturer Ganfeng, ensuring supply of a key ingredient for the vital components. The two firms “signed a memorandum of understanding (MoU) on long-term lithium supplies for battery cells,” VW said in a statement, although it did not reveal the financial terms of the deal.
Copper producers gather; electric cars seen driving demand growthedit
Global copper producers are converging in Chile this week as tightening supply buoys prices, even as the industry grapples with declining ore quality, project delays and worries the U.S-China trade war may hit long-term demand. Despite these challenges, the industry is planning for substantial growth in the next decade thanks to an expected boom in production of electric vehicles, which use twice as much copper as internal combustion engines. Automakers are vowing to produce all-electric fleets.