Earlier this week, the Tamil Nadu government unveiled its state electric vehicle policy on September 16. The policy proposed to promote EV startups along with introducing various incentives and concessions for the electric vehicle and battery manufacturers.
Further, the policy noted 100% motor vehicle tax exemption for all-electric motorcycles, buses, three-wheelers and other freight vehicles till 2022.
Moreover, special concessions were introduced for the companies involved in the manufacturing of electric vehicles, spare parts, batteries, and charging infrastructure. These concessions include 15% capital subsidy for EV manufacturing and 20% for batteries.
To be eligible for these concessions, companies need to have 50 employees and must have made about INR 50 Cr investment towards manufacturing of battery and charging infrastructure till 2025.
Complementing the central government’s national National Electric Mobility Mission Plan (NEMMP), multiple state governments, including Kerala, Tamil Nadu, Uttar Pradesh, Telangana, and Delhi, have also come up with their individual EV policies in the last one year.
Chart of the week: State-wise Electric/Battery Operated Vehicles In India
EV News From India
Tata Motors, IIT Bombay Students Collaborate On ‘EVoK’ Electric Race Car
Tata Motors and a group of 70 students from IIT Bombay have worked together to develop an electric race car called ‘EVoK’. The IIT Bombay Racing Team competed at the prestigious Formula Student UK 2019 that is held annually after the British Grand Prix at the Silverstone Circuit in the UK in July.
Suzuki Brings EV Battery Plant To Gujarat In Tie-up With Denso, Toshiba
Venturing into the production of lithium-ion batteries and electrode, Japanese automobile major Suzuki Motors formed a consortium with Japanese automotive component manufacturer Denso and multinational conglomerate Toshiba to set up a manufacturing unit in Gujarat. The manufactured batteries will be used to power electric vehicles (EV).
Ashok Leyland To Launch Electric Vehicle JV
Indian truck manufacturer Ashok Leyland is reportedly in talks with a clutch of multinationals to start a joint venture in the electric mobility space. Leyland’s list of potential partners is said to include Michelin, Marubeni, and SBICap Ventures. Talking about the vision behind the JV, Atmanathan reportedly said, “The purpose is to initiate an ecosystem. The JV will work with the entire supply chain — for example, with vehicle manufacturers to procure buses, with maintenance companies for giving out maintenance contracts, etc.”
IIT Kharagpur Students Build A Home-Rechargeable Electric Three-Wheeler
Indian Institute of Technology, Kharagpur (IIT KGP) students and mechanical engineering professor Vikranth Racherla have built an electric three-wheeler called Deshla, for city transportation. The vehicle is said to be chargeable at home and has a maximum speed of 50 Km/hr. According to Racherla, “In contrast to the three-wheelers in the market at present, the vehicle is far more stable and jerk-free on bad roads.”
Ather Energy Discontinues One Of Its Escooters Due To Low Demand
Electric scooter manufacturer Ather Energy has discontinued its entry-level Ather 340 scooter due to low demand, the company announced through its official Instagram handle on Tuesday (September 17). The Bengaluru-based ebike maker now plans to shift focus on scaling up the production of another flagship two-wheeler Ather 450.
Startup Of The Week: B:Live
Founded in 2017 by Samarth Kholkar and Sandeep Mukherjee, B:Live offers immersive tours, powered by smart e-cycles. The Goa-based company works closely with multiple state governments to encourage early adoption of electric vehicles across all tourist destinations in India. The company envisions bringing in eco-tourism revolution in the country through curated experiences powered by electric vehicles.
Earlier this week, B:Live has raised INR 4 Cr ($563.18K) in a fresh funding round from DNA Entertainment Networks, which the latter called a strategic investment.
The funds are expected to be used to expand B:Live’s presence in the country and strengthen its technology platform. Prior to this, B:Live had raised INR 1 Cr seed funding led by Shrinivas V. Dempo, chairman of Dempo Group and Shivanand V Salgaocar, chairman and managing director, Vimson Group.
EV News From Around The World
Greece Is The Cheapest Place To Own An Electric Vehicle
An annual Car Cost Index study by LeasePlan noted a sharp decline in the price gap between electric cars and petrol/diesel vehicles across the European markets. Among all European markets, Greece is said to be the cheapest country to own an electric vehicle, at an average cost of $721.84 per month (INR 51,405). Greece is closely followed by the United Kingdom (UK) with an average monthly cost of over $746.73 (INR 53,239).
China Aims For EVs To Make For 60% Of Country Motor Sales By 2035
China’s Ministry of Industry and Information Technology is reportedly heading the government’s latest plans to promote EV industry plans for 2021 through 2035. The proposals are said to be still under discussion but the reports claim that the country will be aiming for EVs to make 60% of the country’s automotive sales.