Auto components maker Bosch is working with Indian original equipment manufacturers (OEM) to provide hybrid vehicle solutions, apart from the traditional internal combustion engines and the new age electric ones, Jan Roehrl, executive vice-president and chief technology officer, said. “In the near future, you will see hybrids from Indian OEMs and just not only from the global counterparts,” he said, adding that Bosch was exploring both petrol and diesel hybrid variants in India.
Air pollution from burning fossil fuels is generating economic losses of $8 billion a day, according to a Greenpeace report. That’s about 3.3% of global gross domestic product, or $2.9 trillion per year, according to a report from Greenpeace Southeast Asia and Center for Research on Energy and Clean Air. China, the US and India bear the highest economic cost of soaring pollution, at an estimated $900 billion, $600 billion and $150 billion a year, respectively.
The government is promoting electric vehicles (EV) by proposing to drop registration fees and using the Union Budget to given an additional income tax deduction of Rs 1.5 lakh on interest paid on loans taken to purchase such transport, said Prakash Javadekar, Minister of Heavy Industries and Public Enterprises, has said. Javadekar said his department will spend around Rs 500 crore to set up 2,636 charging stations in 62 cities across cities under the second phase of the Faster Adoption and Manufacturing of Hybrid & Electric Vehicles in India (FAME) scheme.
In the last one year in India, there has been a growth spurt in storage tender issuance, however, only for a few small tenders, the auctions are successful. In most other tenders, the storage capacity was so high that it leads to infeasible tariffs, and eventually to cancellations of many of these tenders, JMK Research has revealed. The one significant milestone for the storage sector was achieved last week, with the successful auction of SECI’s 1,200 MW RE plus storage tender with guaranteed peak power supply.
A burgeoning cell phone industry has pushed India’s lithium battery imports by 300% in 2018-19 compared to 2016-17, while the electric vehicle (EV) market is expected to further boost this in the next few years. Official data on the import of lithium batteries shows that imports jumped to 71.2 crore units worth $1.2 billion in 2018-19 from just 17.5 crore units worth $384 million in 2016-17. And, in the first eight months of this financial year (2019-202), India has seen 45 crore units worth $929 million imported already.
The ongoing crisis in the banking system and the non-banking financial companies (NBFCs) is impacting the growth of the renewable energy sector impeding credit flow for projects, according to chief executive officers (CEOs) and other senior executives of companies operating in the green energy space.
The French automaker Renault will be bringing the best-priced EV in the mass market in the next two years, claims Venkatraman Mamillapalle, CEO and MD, Renault India. In an exclusive interaction with ETAuto, Mamillapalle said the brand which is known for segment creation and its affordable prices may launch its upcoming EV under the price range of Rs 10 lakh.
Bengaluru-based electric scooter manufacturing start-up Ather Energy is considering expanding beyond the two-wheeler space that it currently operates in, in the next 4-5 years, said the company’s co-founder and chief executive officer, Tarun Mehta. It is looking at raising more funds through a Series D route after July, once its new product, the 450X, is on the road, he said. The Hero Moto Corp Ltd-backed start-up will be directing these funds more towards operations, expansion and sales this time, as opposed to the earlier pronounced focus on research and development, he said.
The month of February began on a dull-note for India’s electric vehicle industry as the finance minister Nirmala Sitharaman missed mentioning the booming e-mobility opportunity in the country and its players in the Union Budget 2020. This was followed by Auto Expo haul in the capital city which brought in new launches as well as new commitments from larger manufacturers. Now, the government has supposedly woke up from its slumber for e-mobility ambitions and is looking to support electric vehicles charging infrastructure.
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