Energy Efficiency Services (EESL) had in 2017 placed orders for 10,000 electric sedans from Tata Motors (Tigor) and Mahindra (Verito) after a lengthy bidding process by by March 2019. However, due to a subdued demand and certain issues pertaining to their range, the timeline for supply was later extended to March 2020.
The move comes as carmakers struggle to adapt to technological change including the rise of electric vehicles and self-driving systems.
Shares rose nearly 21% to $307.12 after hours on the unexpected news, crossing $300 for the first time since March 1 after record deliveries and cost cuts ensured a profitable third quarter.
Bajaj Auto announced on October 16 that it would be making a comeback into the two-wheeler segment with an electric scooter designed along the lines of the original Chetak.
A swappable battery could be stocked at the conventional petrol pump. The customer would just drive in, surrender his old battery, get a new one, with the residual energy in the old battery adjusted against the price of the new one
It features a fairly retro looking tail section, although still maxed out in LED lights, a sloping roofline and a pretty wide and low-set stance with prominent wheel arches.
The Indian auto industry has been caught in the middle of slowing economic growth that has led to a slump in demand for vehicles, forced plant shutdowns and large layoffs.
Moneycontrol's Jerome Anthony talks to Swaraj Baggonkar to find out what are the challenges that the auto sector and buyers could face as the government pushes its e-vehicles policy.
To facilitate charging infrastructure, Kant said newer models should be explored and start-ups must be facilitated in this area.
The GST Council, on June 27, reduced the rate on EVs from 12 percent to 5 percent and on EV chargers from 18 percent to 5 percent, effective from August 1.
In a draft notification, the government proposed renewal of fitness certificates for vehicles older than 15 years every six months instead of the current timeframe of one year.
The auto industry has been asked by Niti Aayog to conduct a study through an external agency for road map towards electric mobility.
The government has asked states and UTs to induct more EVs into public transport and communicate by August 31 the steps being planned to promote faster adoption of EVs
Loan taps are drying up, rains are playing hide and seek, and a technological disruption is looming. Not exactly the best of times for automobile companies.
The recent Economic Survey, too, pitched for making India an electric vehicles hub and boost employment in the automobile sector. According to the Survey, India’s market share in electric cars is just 0.06% while China has 2 percent share of the global share.
Suzuki has been trying to develop affordable EVs for India on its own and will head the development of its second EV.
This Budget seems to have aptly synchronised with the government’s idea of ‘Minimum Government, Maximum Governance’.
One of the biggest challenges that the automobile industry faces is making electric vehicles more attractive for personal use from the point of cost.
The NEMMP 2020 is a national mission document providing the vision and the road map for faster adoption of electric vehicles and their manufacturing in the country.
China will enter segments like electric scooters, electric bikes, electric three-wheelers, petrol-powered performance bike, SUVs, luxury cars, and construction equipment.