The government of Telangana has decided to encourage the adoption of electric vehicles (EV) across the state in order to reduce air pollution and traffic congestion. The Cabinet approved the new Telangana State Electric Vehicle and Energy Storage Solution Policy during the meeting held at Pragathi Bhavan on August 5 (Wednesday).
The state cabinet has also decided to encourage the production of electric vehicles by giving them incentives. The new policy is aimed to make Telangana a preferred destination for EVs and component manufacturing units, besides making the state a major base for EV and energy storage sectors by attracting large scale investments and creating employment.
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EV News Of The Week
TATA Nexon Rolls Out Monthly Subscription Plan
Tata Motors had decided to offer a monthly subscription plan with all-inclusive fixed rental plans for its electric SUV Nexon. The range starts at INR 41,900 per month and includes several tenures starting with a minimum period of 18 months.
The offer has been provided through a collaboration with Orix Auto Infrastructure Services Limited, and will initially be available only in five Indian cities — Delhi NCR, Mumbai, Pune, Hyderabad and Bengaluru.
EESL Issues Tender For 250 Four-Wheeler EVs
Energy Efficiency Services Limited (EESL) is looking to procure 250 electric vehicles with three-years standard warranty and comprehensive annual maintenance contract (AMC) up to eight years. The AMC includes design, manufacture, on-site supply and maintenance support for electric cars pan India basis.
According to a Rush Lane report, EESL has called out for 100 four-wheelers with more than 4 metres of length and 300 Km of range, along with 150 four-wheelers with less than four-metres of length and range equal or more than 250 Km.
Ampere Electric Launches Battery Subscription Plan
Ampere Vehicles, a wholly-owned electric mobility subsidiary of Greaves Cotton Ltd., announces its partnership with fintech company Autovert Technologies to offer a battery subscription plan through an IoT-backed platform. The company believes that this will make electric scooters even more affordable.
The latest model will be starting with a few select dealers in Bengaluru, but will be expanded nationwide soon. Vinay Sharma, cofounder and CTO of Autovert said, “The battery subscription is possible, given the modular nature of the EV, which lends itself to decoupling the battery from the vehicle and specific services offered around its lifecycle.”
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EV Headlines From Around The World
Tesla’s Chinese Rival Xpend Bags $400 Mn
Chinese electric car maker Xpeng Motors has reportedly raised $400 Mn ahead of its listing in the US. Existing investors Alibaba, sovereign wealth fund Qatar Investment Authority, Abu Dhabi’s sovereign wealth fund Mubadala have participated in this round, according to an CNBC report.
The publication added that the Tesla rival was looking to raise $300 Mn initially, but an additional investor came on board taking the investment to $400 Mn. The company had raised $500 Mn only last month.
US Gets Its Cheapest EV, All Thanks To China
Chinese EV manufacturer Kandi will be launching its latest offering, Kandi K27 and K23 models, at only $12,999 – $20,000 after the federal tax credit, making them the cheapest electric car in the US. The Kandi K27 is a small compact vehicle with only a 17.69 kWh battery pack — limiting it to a range of an optimistic 100 miles. It starts at $20,499, but goes down to $12,999 after federal tax credit.
The K23 is a bigger brother to K27, and starts at $29,999. After tax credit, the EV should cost around $20K. Johnny Tai, CEO of Kandi America, said, “Kandi’s mission is to make electric cars accessible to all. With these first two models, we are starting an Auto EVolution that will enable anyone, regardless of their financial status, to afford a reliable, high-tech EV.”