Industry
India’s auto crisis deepens, tens of thousands losing jobs: Reportedit
Slumping sales of cars and motorcycles are triggering massive job cuts in India’s auto sector, with many companies forced to shut down factories for days and axe shifts, multiple sources said. The cull has been so extensive that one senior industry source told Reuters that initial estimates suggest that automakers, parts manufacturers and dealers have laid off about 350,000 workers since April.
7 strategies India Inc needs to spearhead the EV revolutionedit
Even as the Government kickstarts Electric Vehicle (EV) development initiatives in India, significant roadblocks lie ahead. Only the right policies will ensure that customers, manufacturers and the state overcome these challenges. One of the largest global automotive markets, India can play a dominant role in the upcoming Electric Vehicle (EV) revolution.
TN EV policy draft may have sops for early adoptersedit
Tamil Nadu’s electric vehicle policy could have a draft of incentives targeted at vehicle manufacturers and allied industries, with a new 3-5 year validity package that contains special sops to draw early adopters as the southern state looks to complement a central push toward transition from internal combustion engines.
Electric two-wheeler sales fall as only 5 firms get FAME benefitsedit
Electric two-wheeler sales fell sharply in the April-June quarter, with only five manufacturers getting subsidies under a revamped government scheme to promote green mobility. Phase two of the subsidy scheme-FAME-India (faster adoption and manufacturing of electric vehicles in India)-has stricter localisation norms and is aimed at promoting domestic manufacturing of electric vehicles and components. The second phase, with an outlay of 10,000 crore, became effective from April 1 this year.
UP announces e-vehicles policy, targets Rs 40,000 cr investment by 2024edit
The Uttar Pradesh government on Tuesday announced the much-awaited electric vehicles (e-vehicles) policy, which targets attracting nearly Rs 40,000 crore in private investment over the next 5 years. The policy, which had been in the making for quite some time, was cleared by the state cabinet meeting chaired by chief minister Adityanath on Tuesday. The government has projected the e-vehicles segment will create about 50,000 new employment opportunities.
India’s electric vehicle journey so far: A story of nudges and trudgesedit
The concept of electric vehicles (EVs) has been around for a fairly long time, but it has drawn significant interest only in the past decade. While rising carbon footprint and other environmental impacts of the fuel-based vehicles have nudged policymakers the world over to look seriously at EVs, India’s efforts have so far yielded very little.
Competition
We have plans to introduce EV recharging posts at outlets, says Bob Dudley of BPedit
Reliance Industries Limited (RIL) and BP have formed a new fuel retail joint venture which will include RIL’s ATF business. RIL will hold 51 percent and British Petroleum 49 percent in this new fuel retail joint venture. The joint venture will build on RIL’s current fuel network of about 1,400 sites. Over the next five years, the JV will set up 5,500 sites.
International
Tesla’s Megapack Battery Ambitions Could Drain Cobalt Supplyedit
From large facilities to electric vehicles powered by Tesla batteries, the one thing they have in common are the origins of a key component called cobalt. This metal which resides primarily in Africa is used by nearly every major tech company and automakers alike, with Tesla pushing the boundaries due to its new Megapack battery product for utility-scale projects.
British All-Electric Car Market Surges By 158% In July 2019edit
All-electric cars once again sell in higher numbers than plug-in hybrids, which were more popular for 54 months (between December 2014 and May 2019). Mixed results come from the British plug-in electric car market – BEV sales more than doubled in July, while PHEV shrunk by half.