Government sources said that they were also looking at including electric bicycles under the capital subsidy scheme seeing its growing popularity and the need to bring down its cost for customers. The fresh inclusions would make the running Fame II or Faster Adoption and Manufacturing of Hybrid and EV scheme all encompassing covering the entire range of electric vehicles being used both for personal and commercial use and public transport.
The over Rs 25,000 crore scheme is likely to boost production of components as well as give a push to the sector. In financial parlance, a PLI scheme provides incentives to the industry for boosting domestic production to lessen imports. Earlier, an outlay of Rs 1.97 lakh crore was made for PLI scheme spanning 13 sectors in budget 2021-22.
Lithium-ion batteries are being used by companies all around the world but their production is very costly. Carmakers now are finding it difficult to cut down their costs and make their electric vehicles cheaper. This is becoming a monumental problem for both consumers as well as producers as innovation is coming in and making electric vehicles even more expensive.
ICRA expects e-buses to account for 8-10 per cent of new bus sales by FY2025. "The traction in the e-bus segment is already visible over the recent months, despite the overall stress in the public transportation segment in the past year-and-a-half due to the Covid pandemic," the ratings agency said. "The traction in the e-bus segment is already visible over the recent months, despite the overall stress in the public transportation segment in the past year-and-a-half due to the Covid pandemic," the ratings agency said.
In a blog after the launch of Ola's electric scooters, Aggarwal announced 'Mission Electric'. "We are taking this moment to announce 'Mission Electric', a pledge that no petrol two-wheeler will be sold in India after 2025. This is a mission that we are putting forward to the industry and to the consumers to reject petrol and fully commit to electric.
The report cited factors such as increasing government support, decreasing cost of technology, growing interest of the country in EVs, distressing pollution levels, would accelerate India's transition to EVs. The Centre is planning to massively increase the share of EVs by 2030, with two-wheeler penetration for the segment being targeted to reach 35 per cent,
This will be the first-ever deployment of EVs by any steel producer in the country for the transportation of finished steel. Tata Steel has contracted 27 EVs, each with a carrying capacity 35 tonnes of steel (minimum capacity). The company plans to deploy 15 EVs at its Jamshedpur plant and 12 at its Sahibabad plant.