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Electric Vehicles This Week: Delhi Govt’s Policy Helps Cut EV Cost, GM’s $2 Bn Plant & More

Electric Vehicles This Week: Delhi Govt’s Policy Helps Cut EV Cost, GM’s $2 Bn Plant & More

Etrio launched its electric three-wheeler range for cargo and passenger

Ultraviolette Automotive raises fund from GoFrugal Technologies

General Motors Co will invest $2 Bn to convert its Tennessee factory to produce EV

With an eye to promote faster adoption of electric vehicles, the Delhi government has exempted road tax and registration fees on electric vehicles (EV). It will further reduce the cost incurred by the end-user in its new electric vehicle policy.

The government is also subsidising the ex-showroom cost of the vehicle, by offering an INR 10 K discount per kWh, up to a maximum of INR 1.50 lakh. However, the buyers will still be liable to pay the insurance premiums. It further promises to give low-interest loans on electric commercial vehicles under the policy.

The new EV policy will be applicable for three years and the consumer can get benefitted looking by making use of the offer during this period. Delhi CM Arvind Kejriwal termed the new policy as “another crucial step towards ensuring a pollution-free Delhi”.

Delhi’s transport minister Kailash Gahlot congratulated Delhiites, saying, “As promised by the CM when announcing landmark EV Policy, Delhi govt has exempted road tax on battery-operated vehicles… We are determined to ensure Delhi leads the country in rapid transition to electric vehicles.”

Chart Of The Week: 

Upfront cost of Evs remain the significant concern globally

EV News Of The Week

Etrio Ventures Enters Electric Three-Wheeler Market

Hyderabad-based electric vehicle retro fitment kit maker Etrio launched its electric three-wheeler range for cargo and passenger under the brand name Touro. The two new variants will be focused on intra-city logistics especially in last-mile delivery applications.

Ultraviolette Automotive Raises Fund From GoFrugal Technologies

TVS Motor-backed sustainable mobility startup Ultraviolette Automotive has raised an undisclosed amount in a Series B investment round from Kumar Vembu, CEO of GoFrugal Technologies. Earlier, Vembu had invested in the company in its Series A funding and now joins TVS Motor Company, who had invested INR 30 Cr in Ultraviolette in Series B funding in September.

EV Headlines From Around The World

General Motors Invests $2 Bn To Build EV In Tennessee

General Motors Co will invest $2 Bn to convert its Tennessee factory to produce EV starting with the new Cadillac Lyriq, alongside existing combustion-engine Cadillacs. Spring Hill will be GM’s third US EV factory, along with existing plants in Detroit and Orion Township, Michigan.

Renault’s Made-In-China Dacia EV Angers Workers

Renault’s French unions are angry about the automaker producing a new full-electric car, Dacia Spring, in China and selling it in Europe. Labour Groups are attacking Renault for exporting Europe from a plant in central China’s Hubei province. Workers have also been on edge about a job-cutting plan the company.

[With Inputs From Shubham Singh]