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Company Industry: Electric Vehicles

EV Startup Ather Energy Bags $128 Mn From Indian Sovereign Fund NIIF & Hero MotoCorp

EV Startup Ather Energy Bags $128 Mn From Indian Sovereign Fund NIIF &...

Electric two-wheeler startup Ather Energy has completed its…
hybrid vehicles
Expectations of EV Players That Remain On Paper Only Of course, in the run up to the budget, the EV ecosystem had plenty of other demands from the government that were neglected by Sitharaman. Akash Gupta, cofounder and CEO of Zypp Electric, believes there's a lot of confusion even for swapping companies, which has dampened EV adoption. “I would have loved it if GST on battery and spare parts had also been reduced to 5%, like it's there for electric vehicles purchases; this would also help the entire electric vehicle ecosystem," he said. Further, a holistic approach is needed to ensure a robust network of swappable packs and swap stations so that it merges seamlessly with the existing consumer behaviour around refuelling vehicles. More adaptable FAME-II norms were another demand that has been ignored in the budget. Coupled with production-linked incentives (PLI), this would have helped the industry invest in EV infrastructure The EV industry had also hoped that the budget would cut import duty on raw materials. PLI on the lines of automobile or semiconductor manufacturing would have boosted localisation efforts of EV players. Original equipment manufacturers are at present struggling under the present inverted duty structure. The EV players had also demanded low-cost finance options for smoother adoption of electric vehicles and placing EV financing under priority sector lending. This would have gone a long way for EV adoption The long list of expectations and demands also included government support for R&D in affordable and indigenous battery technology development, the biggest pain point for EV players. Dependence on lithium imports from China is considered a strategic disadvantage for Indian EV manufacturers.

EV Players Welcome Budget’s Battery Swapping Policy, But Rue GST Miss...

Finance minister Nirmala Sitharaman’s announcement that the government will come up with…
Union Budget 2022: Good News For EV! Battery Swapping, Interoperability Standards To Be Notified

Union Budget 2022: Good News For EV! Battery Swapping, Interoperabilit...

In a bid to promote cleantech in public transport, the finance minister…
Amid Rising Competition In EV Space, Hero To Invest INR 420 Cr In Ather Energy

Amid Rising Competition In EV Space, Hero To Invest INR 420 Cr In Athe...

Hero MotoCorp has received board approval to further invest INR 420 Cr…
Electric commercial vehicle startup EVage has raised $28 Mn in seed funding from RedBlue Capital. Founded in 2019 by Inderveer Singh and Pulkit Srivastava, EVage aims to supply all-electric commercial vehicles to the delivery fleets of Indian logistics companies. It will use the freshly-infused capital to complete its ‘production-ready’ factory outside Delhi in FY2022-23 and scale up production.

EV Startup EVage Raises $28 Mn To Make Commercial Vehicles

Electric commercial vehicle startup EVage has raised $28 Mn in seed funding…
Actor Daggubati Venkatesh Invests In EV Two-Wheeler Hub BikeWo

Actor Daggubati Venkatesh Invests In EV Two-Wheeler Hub BikeWo

Popular Telugu film actor Daggubati Venkatesh has invested an undisclosed amount in…
Angel Network Agility Ventures Launches Sector-Agnostic INR 450 Cr Fund

Angel Network Agility Ventures Launches Sector-Agnostic INR 450 Cr Fun...

Global angel network firm Agility Ventures has launched an INR 450 Cr…
Delhi Government To Ask Companies To Switch To EVs To Curb Pollution

Delhi Govt To Ask Food, Cab Aggregators, Ecom Companies To Switch To E...

The Delhi State Government is about to ask cab aggregators, food delivery…
EV Tech Startup MoEVing Raises $5 Mn Seed Capital To Accelerate Growth

EV Tech Startup MoEVing Raises $5 Mn Seed Capital To Accelerate Growth...

E-mobility technology platform MoEVing has announced its total seed funding of $5…
Exclusive: EV Bike Startup Ultraviolette Automotive Mops Up $15 Mn From TVS, Zoho

Exclusive: EV Bike Startup Ultraviolette Automotive Mops Up $15 Mn Fro...

Bengaluru-based two-wheeler electric vehicle manufacturer Ultraviolette Automotive has picked up around INR…

Exponent Energy Raises $5 Mn In Pre Series A Funding Round To Develop ...

Rapid-charging startup Exponent Energy has raised $5 Mn in a Pre Series…