Mention
Budget blues for ICE industry, green lightfor EV makersedit
India Auto INC, which is experiencing a downturn like never before, was expecting a growth catalyst from the Union Budget 2019 but has been left standing in its tracks.
Industry
Without FAME, e-bike sales see a sharp falledit
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 Rs 10,000 crore, became effective from April 1 this year.
‘Auto industry should grab EV opportunity’edit
NITI Aayog, the government think-tank, feels that the auto industry should grab the opportunity offered by Electric Vehicles (EVs) and emerge as a global leader in the sunrise industry. “It cannot be the government versus the auto industry. Many dynamic start-ups and some established players are already actively participating in this emerging industry. Our process of consultation with the industry began at the two-day mobility conference that NITI Aayog had organised in October 2018,” said NITI Aayog Vice-Chairman Rajiv Kumar.
Auto industry seeks stimulus package from governmentedit
Auto industry leaders on Wednesday asked the government for a stimulus package, including GST reduction on vehicles, for the sector which has been hit by an unprecedented slump in sales. In a meeting with Finance Minister Nirmala Sitharaman, industry leaders, including Maruti Suzuki Chairman R C Bhargava, M&M President – Automotive Sector Rajan Wadhera, who is also president of SIAM, along with representatives from components sector body ACMA and dealers body FADA drew attention to the challenges, including job losses, faced by the industry.
Why we need to look beyond the ‘electric’ smokescreenedit
I have been grappling with the government’s new-found obsession with electric mobility as if it is the only solution for India’s transportation problems. If I were the government of India, I would be really bothered about two key things: One, bringing down my fuel import bill; and two, bringing down air pollution. I need to set the larger goals and targets for both, and leave it to experts to work out the best collaborative solutions.
25% rebate on land for setting up charging points in UPedit
The Uttar Pradesh government decided on Tuesday to give a rebate of 25 per cent on the market rate of land for establishing charging units for electric vehicles. The state cabinet chaired by Chief Minister Yogi Adityanath has cleared a policy in this regard. “Three points are taken in the policy. First, more and more electric vehicles are made in the state. Secondly, preparing network of charging stations and thirdly creating a demand of these vehicles,” UP government spokesperson Sidharth Nath Singh told reporters.
EVs to account for 80% of global shared mobility fleet by 2040: Reportedit
Shared mobility service will adopt the electric vehicles faster than private owners and by 2040, around 80 per cent of the global ride-sharing fleet will be attributed to EVs, claims a report by BloombergNEF. The study also reveals that currently, electric vehicles account for 1.8 per cent of the global shared mobility fleet, that includes taxis, ride-hailing and car-sharing. It also says that the ratio of green vehicles will increase fast due to more attractive economics.
Competition
Amalgamations Group prepares for the EV eraedit
The 81-year-old, Chennai-based diversified Amalgamations Group, which manufactures an expansive range of components used in internal combustion engines, is readying for the industry shift to electric mobility. “NITI Aayog has already come out with a policy statement saying that all two-wheelers less than 150cc will have to be electric by 2024. The industry has got some view on this but we believe this is a reality and it will happen.
Considering electric option for mass segment 2-wheeler market in India: Benelliedit
Italian motorcycle maker Benelli on Wednesday said it is looking at electric option to enter the mass segment of Indian two-wheeler market in the wake of government’s push for eco-friendly mobility. The company, which re-entered India in January this year in the superbike category, had earlier planned to enter the mass segment with lower engine capacity conventional motorcycles, besides making the country a base for export of such two-wheelers.
How Ola swung a funding flipedit
When Ola Electric Mobility Pvt. Ltd, the electric vehicle unit spun off from ride-hailing startup Ola, said in July that it had raised about $250 million from SoftBank Group Corp., it became the fastest firm to become a unicorn after Udaan, a business-to-business commerce platform. Ola Electric took just two and a half years to attain the unicorn tag, which refers to startups valued at $1 billion or more.
Panasonic bets on EV infrastructure, digital factory solutionsedit
Japanese electronics major Panasonic plans to make rapid strides in electric vehicles charging infrastructure and smart & connected digital factory solutions, looking to clock Rs 12,000 crore revenue this year against Rs 10,300 crore in 2018-19.
Mahindra & Mahindra plans to roll out three new electric vehiclesedit
Mahindra & Mahindra, which reported on Wednesday a 52.56% decline in consolidated profit after tax to ₹894.11 crore in the first quarter ended June 30 due to lower volume growth, has said it plans to roll out a range of new electric vehicles. At the same time, chairman Anand Mahindra at the company’s 73rd annual general meeting said there is a “tectonic shift” occurring in the industry and the time is ripe for that shift.
International
Europe’s battery leadership can help clean up the global metals supply chainedit
Lithium-ion batteries hold the key to a future powered by clean energy. By enabling electric cars, ships, and planes, this versatile energy-storage medium is bound to help cut pollutants and greenhouse gases. But all that progress will come at a cost. Battery manufacturing requires large amounts of metals, some of which, like copper and aluminum, are plentiful and easy to mine. The rarer materials like cobalt and lithium, though, often come from places rife with war and child labor.
Nissan partners with EVgo to install EV charging infra in USedit
Japanese auto manufacturer Nissan has joined hands with EVgo to set up electric vehicle charging infrastructure in the US. Under, their joint venture, these two companies will install 200 direct current fast chargers (DCFC) across the US over the next six years. Each of these new DCFCs is capable of delivering 100 kW and have both CHAdeMO and CCS connectors that will benefit the EV owners, claims the company in a release.