The Mumbai-headquartered rural banking services provider will set up the electric vehicle charging infrastructure across its huge network of Nextgen outlets, which it plans to increase from current 3504 to 300,000 by FY 2024-25.
While it is often stated only 5% of lithium-ion batteries are recycled, a review of research into the second life and recycling of lithium-ion batteries suggests that is a gross understatement. A new study found almost 100,000 tons of waste batteries were recycled last year – about half of what reached end-of-life.
The ‘inverted umbrella’ shaped canopies use monocrystalline flexible solar panels on top to generate electricity for functions like mobile and laptop charging, and lighting.
The new budget aims to seize the opportunity in energy storage and EVs through a range of incentives. However, alongside demand, production and export, the government also needs to focus on e-waste management and Li-ion battery recycling to sustain raw material supply and minimize environmental impact.
To boost electric vehicle adoption in the country, the government has reduced goods and services tax on electric vehicles to 5% from 12%. Further, it will provide additional income tax deduction of Rs 1.5 lakh on interest paid on loans taken to purchase electric vehicles.
Proposals by Bharat Heavy Electricals Limited and Rajasthan Electronics & Instruments, Jaipur to set up solar-based EV charging infrastructure have received funding under the government’s FAME India scheme. These projects will come up at Delhi NCR, Udyog Bhwan, and Delhi-Jaipur-Delhi, Mumbai-Pune-Mumbai as well as Delhi-Chandigarh-Delhi highways.
Previously, a mere €240 million (Rs1,870 crore) was set to flow into the giga-factory. The corporation’s management reasoned new demand for its battery cells made more investment necessary.
Central government has thrown down the gauntlet to the nation’s largest motorbike and scooter manufacturers after they resisted a proposal to ban non-electric sales from 2025 onwards.
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