SUMMARY
Charge+Zone raised $3 Mn from Venture Catalysts to scale its operations
Ola Electric is currently on the lookout for 100 acres of unencumbered land
Volvo Cars is looking to increase its capabilities of designing and developing electric motors in-house.
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The Telangana government has announced its electric vehicles (EV) policy to boost the state’s infrastructure and public demand. According to the new policy, the government has announced subsidies, policy measures and other incentives to turn the state into an EV and energy storage system (ESS) development and manufacturing hub.
The new policy will be applicable for 10 years, and it focuses on creating attractive investment avenues in the sector; promoting research, development and manufacturing; and other methods to speed up the adoption process.
The government will offer 100% exemption on road taxes and registration fees on the first hundred thousand electric two-wheelers, electric three-wheelers, electric commercial passenger vehicles, electric three-wheelers, electric four-wheelers, electric buses. It has also proposed to set up a battery charging or swapping stations every 50 Km on highways within the state.
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EV News Of The Week
Charge+Zone Raises $3 Mn To Scale Operations
EV charging startup Charge+Zone has raised funding of $3 Mn in pre-Series A round led by Venture Catalysts. Mumbai Angels, Keiretsu Forum and Ramakrishnan Family Office also participated in this round.
The company will use this funding to scale its operations and work towards building one million unmanned charging points in the country within 10 years. The company, which was founded in 2018 by Kartikey Hariyani and Pavan Bakeri, had raised an undisclosed amount from Mumbai Angels in May 2020.
Ola Electric Aims To Build World’s Largest E-Scooter Facility
Bengaluru-based emobility giant Ola Electric is currently on the lookout for 100 acres of unencumbered land to build the world’s largest e-scooter facility as the company plans to launch its electric two-wheeler models globally soon.
Ola Electric wants to overtake Japanese automobile maker Honda, which currently operates the world’s largest scooter manufacturing site in Gujarat. The plant manufactures nearly 1.2 Mn fossil fuel-powered vehicles annually.
EV Headlines From Around The World
EV Car Sales Rise In Germany During Automobile Sale Slump
The new car sale in Germany fell by 3.6% to 274,300 in October compared to the same in last year. Electric cars accounted for 8.4% of new car registrations. Combined with hybrid, the share of non-fossil-fuel cars increased to 17.5%.
Volvo To Design, Develop EV Motor In-House
Swedish automotive giant Volvo Cars announced that it will make investment in increasing its capabilities of designing and developing electric motors in-house. This move will “allow engineers to make further gains in terms of energy efficiency and overall performance.”
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