No new initiatives or schemes for EVs were announced in interim budget 2019-20
South Korean car manufacturer Kia has delayed its launch of electric cars in India
Centre has slashed subsidy on electric vehicles for the next financial year by 25%
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While addressing the parliament during the Interim Budget 2019-20, interim finance minister Piyush Goyal said that India will lead the world in transport in EVs and renewable energy, making India a pollution free nation. However, the minister did not share any definite plans on achieving this goal. Also, no new initiatives or schemes were announced to aid the growth of EVs.
This tokenism has not been lost on the automakers who will now have wait for the Parliament’s monsoon session when the budget might be revised.
With less than 12 years left for the government’s goal of increasing the number of electric vehicles (EVs) to 30% of the new vehicles registered on road, the policy logjam has acted as a deterrent for EV makers from making a full fledged entry into the market.
This week South Korean car manufacturer Kia has delayed its launch of electric cars in India. The company cited lack of charging infrastructure, subsidies and incentives as the reason for this decision.
The fact that that Centre has slashed subsidy on electric vehicles for the next financial year by 25%, may further delay the development of India’s EV industry.
With that, here is the latest in EV news from India and around the world.
EV News from India
German Auto Major Looks To Invest €120 Mn In The Country
With this investment, Schaeffler Group is looking to build capabilities for mechatronics and software in India which will contribute to the emobility needs of global Schaeffler.
Bajaj Auto’s E-Scooter To Debut This Year
India’s third largest two-wheeler manufacturer, Bajaj Auto is set to foray in the electric vehicle segment in the next fiscal year with Urbanite. The electric scooter is the debut product and its response will lead to the launch of more battery-powered products in future, reported MoneyControl.
Andhra Pradesh To Deploy 10 Lakh EVs By 2024
In the next five years, Chandrababu Naidu-led government plans to add 10 Lakh electric vehicles and 1 Lakhs charging station. Under this policy, the state government will also grant INR 500 Cr for research and development of electric vehicles, reported ETAuto.
Kerala Targets 1 Mn Electric Vehicles By 2022
As reported by NDTV Auto, The state government will do so by putting in place a INR 12 Cr emobility fund. Kerala Finance Minister said, By 2019-20 electric buses will replace KRTC buses, starting from Thiruvananthapuram. The state has also announced tax exemption and subsidy to electric autorickshaws.
EV News From Around The World
Lyft Is Adding Hundreds Of Electric Vehicles To Its Fleet
Jon McNeill, COO Lyft, told Business Insider, The program will begin in Seattle and Atlanta. This step is a response to growing demand for lower emission vehicles from both drivers and riders alike. International cab-hailing app, hopes to hit 1K by the end of 2019.
Daimler And Tennet Enter Partnership To Develop Batteries For Grid
This joint development partnership will aid in research and feasibility testing of innovative system services in the transmission grid. In the next phase of the development partnership, the project partners will work on defining the requirements that will enable a tender process for the future system service by TenneT, as reported by Auto Car Professional.
China’s Catl And Honda Partner On EV Battery Development
CATL had signed a MOU with Honda under which it would guarantee supply of lithium-ion EV batteries with storage capacity of around 56 GWh to the automaker by 2027. They also plan to set up an office near Honda’s research unit in Tochigi Prefecture, outside Tokyo. This agreement focuses on supply of EV batteries in Asia, as told to Reuters.
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