Specific
An Affordable EV Is At Least Five Years Away, Says Indias Electric Car Pioneeredit
Chetan Maini, who gave India its first electric car Reva, thinks an affordable electric vehicle is a few years away. “While battery prices have been going down 8 percent year-on-year, it still constitutes almost 50 percent of the cost,” Maini told BloombergQuint in an interview.
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The cost parity with fossil-fuel driven vehicles will take at least five years, he said. But, according to Maini, it’s difficult to achieve that parity for cars priced are under Rs 5 lakh, scooters costing under Rs 80,000, or three-wheelers under Rs 2 lakh. “In these cases, it will take longer.”
How Electric Vehicles Rev Up Business Opportunitiesedit
Besides, Sun Mobility is creating a universal energy infrastructure which offers battery swapping facility to EVs. Unlike private vehicles, commercial vehicles like buses, auto-rickshaws and delivery vehicles can’t stop for long to charge batteries and travel long distances on a daily basis.
Electrifying Potential, but Some Bumpsedit
Mahindra Electric has collaborated with car-rental and subscription platform Zoomcar to offer its e20Plus electric cars across cities. Zoomcar told ET that the proportion of EVs on its platform has touched 10%. Ride-hailing company Uber, too, has partnered with Mahindra Electric to launch e-cars in select cities. SoftBank-backed Ola Electric Mobility, similarly, has charted out a roadmap to place one million EVs on the road by 2021.
Industry
Rajasthan: Industrial draft policy bets big on making of electric vehiclesedit
In a bid to take early bird advantage, the state government is planning to set up an electric vehicle research and manufacturing zone. As spelt out in the new draft industrial policy, the government will also offer financial incentives to encourage component manufacturing for EVs and proposes to bring in a dedicated policy to provide impetus to the sector.
PMRDA and Switzerland to develop Indias first carbonneutral township in Puneedit
Soon, the Pune Metropolitan Region Development Authority (PMRDA) region will have smart townships that will constrain carbon emissions and enhance energy sufficiency in the project in the area with the authority on Thursday signing a Memorandum of Understanding (MoU) with Swiss Confederations 2000Watt Smart city association (2000WSCA) for development of carbon neutral smart townships.
How lithium mining has gone up in the wake of emobilityedit
With the increasing demands for electrification of automobiles and the forecast of EVs accounting for at least 33 per cent of total automobiles on the road across the world by 2030, electric vehicle battery raw material like lithium is becoming the new gold.
Himachal aims 100 per cent transition to evehicles by 2030edit
Himachal Pradesh is aiming to achieve 100 per cent transition to electric vehicles by 2030 in alignment with the United Nations sustainable development goals, an official said on Wednesday.A meeting to frame the draft for the Himachal Pradesh Electric Vehicle Policy 2019 was held here, chaired by Chief Secretary Shrikant Baldi.
GST Council may review rates on auto sectoredit
The Goods and Services Tax (GST) Council is likely to discuss the viability of a tax rate cut for the automobile sector, easing the annual return filing procedure for small businesses and possibly rationalise the two different rates on lotteries at its 37th meeting to be held in Goa on Friday, according to tax analysts. “The auto industry is demanding a GST rate cut from 28% to 18%,” said Ankit Agarwal, MD, Alankit Ltd.
Correction in auto stocks not enough to turn optimistic: CLSAedit
Auto companies which have been battling slowdown in sales amid liquidity crisis, regulatory and policy changes were pinning hopes on the festival season for a pickup in sales. Vehicle sales tumbled to a 22year low in August.
Bharat Forge completes 11.35 million investment in new EV components joint ventureedit
Worlds largest forgingNSE 0.70 % company, Bharat Forge on Thursday completed an investment of 11.35 million (Rs 88.9 crore) to form a 50:50 joint venture with Germanys Refu Electronik GmbH to make components for electric and hybrid vehicles.
Automobili Pininfarina, Bosch and Benteler partner over highperformance EV platformedit
As the company claims, Automobili Pininfarina, Bosch Engineering and Benteler will evaluate the best technical concept as well as the market potential for the EV platform. We can expect the future Mahindra electric vehicles to be benefitted from this architecture.
Andhra High court reserves order on renewable contracts renegotiationedit
The Andhra Pradesh high court had on July 25 stayed the state governments July 1 order in a case filed by renewable energy companies against renegotiation of all power supply contracts.
638 gigawatt of solar power generation capacity added over last decade: UNEPedit
The world added a mammoth 638 gigawatt (GW) of solar power generation capacity, including both solar photovoltaic and thermal, between 2010 and 2019 the largest such addition across renewable energy technologies, according to a report by the United Nations Environment Programme (UNEP).
International
Amazon vows to be carbon neutral by 2040, buying 100,000 electric vansedit
Bezos also said Amazon was ordering 100,000 electric delivery vehicles from U.S. vehicle design and manufacturing startup Rivian Automotive LLC and would use 100% renewable energy by 2030, up from 40% today. Amazon and Ford Motor Co are among the investors in Rivian. Bezos said the first electric delivery vans for Amazon will be on the road by 2021, and all 100,000 will be deployed by 2024.