Industry
SIAM seeks bigger stimulus package to revive auto sectoredit
The Society of Indian Automobile Manufacturers (SIAM) has sought a “bigger stimulus package” to revive the auto industry, which has been heavily dented by the consumption slowdown. According to SIAM Director General Vishnu Mathur, urgent measures, like reduction in the goods and services tax (GST) from 28 per cent to 18 per cent on automobiles is required to revive the industry.
Delhi Metro to Introduce E-Bikes at Metro Stations for Last Mile Connectivityedit
Delhi, despite being the nation’s capital, is one of the most polluted cities in the country. Vehicular release, construction activities, burning of agricultural residue are the main causes behind this acute level of pollution.
Is the auto slowdown for real?edit
Not a day passes without reading how the Indian automotive sector is in the midst of a crisis and its appeals to the government for help. This article takes an integrated view of the issues involved with an intent to provoke thought. The author does not claim to be an auto expert. Amidst sagging animal spirits, Kia Seltos got 23,000 bookings and MG Hector 21,000 bookings, collecting a booking amount of Rs 57.5 crore and Rs 105 crore, respectively. Buyers aspire, have money, hence booked.
BEST deploys 10 more Olectra-BYD electric busesedit
BEST has deployed 10 more electric buses in its fleet of zero-emission buses for Mumbai. These buses come as part of the Olectra-BYD’s 40 AC and non-AC bus order on Gross Cost Contract basis. The deployment of this second lot of electric buses from Olectra-BYD comes after successful trial deployment of 6 zero-emission buses in November 2017 by BEST, claims the manufacturer in a release.
No light at the end of the tunnel for carmakersedit
India’s passenger vehicle industry suffered its worst-ever monthly sales performance in August as a protracted demand slowdown showed no sign of abating. Companies did not step up production of vehicles fearing sales will continue to stay weak during the crucial festive season, which begins this month and continues till late October. Car sales in India are measured as factory dispatches and not retail sales.
Do we have the charging infrastructure for EVs in Indian market?edit
EVs has led to the opening of a new business area, that of charging infrastructure. The government has announced incentives for electric vehicles like Income tax deductions, lower import duty on many components, Investment-linked tax exemption for setting up manufacturing facilities, GST reduction on EVs from 12 to 5% to stretch its demand.
Indian auto component industry need not fear EVs, say Industry leadersedit
Indian auto component industry which is largely comprised of mechanical and powertrain parts need not to worry about the evolution of electric vehicles as the internal combustion engine is here to stay for at least for the next one decade, industry leaders said at the 59th Annual Convention conducted by auto component members association (ACMA).
Competition
Hyundai to supply affordable electric vehicles to Ola by 2022edit
Hyundai Motor India will begin supplies of ‘affordable’ and ‘mass market’ range of electric vehicles to India’s ride-hailing giant Ola from 2022-23. These vehicles, which are tailor-made for Indian buyers, will be based on a new vehicle platform that is aimed at keeping cost of manufacturing low and making them affordable.
International
UK 2nd cheapest country in Europe to own an electric vehicleedit
LeasePlan has released its annual Car Cost Index, with the latest analysis revealing that compared to 2018, there has been a sharp decline in the price differences between electric cars and petrol/diesel vehicles across the European markets. The analysis shows that the UK is now the second most cost-effective country in Europe to own an electric vehicle. According to the Car Cost Index, the average monthly total cost of ownership for electric vehicles in the UK is €676, with only Greece offering a lower total cost of ownership of €656.
Electric car sales subsidy to be abolishededit
“I make no bones about it,” says Shapps, “we want to remove all the subsidy. So you can see this in two ways. If you are out there reading this, thinking of buying an electric car, buy it while the subsidy’s there, because it will go eventually.” At the moment, the government pays up to 35% of an electric car with a maximum payment allowed of the £3,500. The amount was set in 2016. Before that it was set at £5,000.