A new report says that the nation would require an estimated annual battery capacity of 158 GWh to realize its 2030 electric vehicle (EV) adoption target. Meeting this potential demand would require investments exceeding INR 85,900 crore (US$ 12.3 billion) in case battery manufacturing is 100% indigenized.
An underdeveloped charging ecosystem is one of the many factors restricting the uptake of electric four-wheelers in India. A limited number of products and higher costs than combustion-engine powered vehicles are the other deterrents.
The clean energy major has raised investment from Finnish impact investor Finnfund in its public charging point operator business Fortum Charge and Drive India.
The second phase of the Faster Adoption and Manufacturing of (Hybrid) and Electric Vehicles (FAME II) program offers incentives to deploy electric vehicle (EV) charging infrastructure.
Magenta’s tie-up with the app-based electric scooter rental service provider is aimed at setting up EV charging infrastructure in Maharashtra, and later nationwide.
Contractors will be required to identify sites and develop, operate and maintain interoperable electric chargers in more than 75 cities.
The country’s electric bus market has gained momentum owing to aggressive government push through FAME India [Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India] scheme and increased interest from global investors.
The e-commerce player has worked with design and manufacturing partners to procure electric vehicles (EVs) optimized for e-commerce deliveries. It is also planning to set up the necessary charging infrastructure close to its 1,400 supply chain premises to push the use of EVs.
Mobility in rural Kenya is currently flooded with unsustainable CO2-emitting motorcycles that pose a threat to the environment and public health. But the electric tricycle is an environmentally friendly alternative, and Solar E-cycles – a homegrown Kenyan startup – believes a leasing model could unlock a ton of three-wheeled potential.
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