The company has bagged an order from state-run Chittaranjan Locomotive Works to supply transformers for goods and passenger locomotive engines.
The industry body has recommended a series of measures including a continuation of FAME II Scheme to 2025, short-term booster incentives for consumers and support for in-house R&D to boost the electric vehicle sector.
The industry needs to cut a dependence on electric vehicle battery imports from China, according to the road transport minister, who said the government is looking to support research into alternatives to lithium-ion technology.
Under the brand name EZ Charge, Tata Power has already installed 170 fast and smart-charging points for electric vehicles in more than 20 cities across the country.
As per the MoU, the state-owned power producer along with the oil and gas producer shall explore setting up of renewable energy projects in India and overseas, and sustainability, storage, e-mobility and ESG (Environmental, Social and Governance) compliant projects.
EV sales are set to be 1.7 million off because of the economic fallout of the Covid-19 crisis, however analyst BloombergNEF predicts that will be less of a hit than the anticipated fall in sales of conventional cars, increasing the penetration of electric models into the overall market.
The market will be driven by shared-mobility electric car deployment and will see annual growth of up to 61.7% for battery management systems.
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