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 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.
The state budget for 2020-21 has also allocated Rs 125 crore under Pradhan Mantri KUSUM Yojana to solarize 18,500 grid-connected pumps and for standalone offgrid solar power agriculture pumps.
The joint venture between Japanese majors Toshiba, Denso and Suzuki will make the investment in the Gujarat plant over the 2021-25 period, having pumped Rs12.5 billion into the first phase of development.
The investment—part of a $592 million assistance package—will be used to promote adoption of smart meters, distributed solar photovoltaic systems and e-vehicles in India.
The recycling market will experience a tenfold expansion between last year and 2030, driven by EV battery usage and portable electronics. Retrieving valuable metals and minerals is becoming a high priority and several dozen companies are already in position for the first big wave of end-of-life batteries.
Range anxiety continues to be an obstacle to electric vehicle take-up but the nation’s willingness to embrace car-sharing and other workarounds offers plenty of promise to the sector, according a World Economic Forum report.
Manufacturers have been invited to compete for the tender by submitting expressions of interest by October 22. The vehicles must be ready to hit state roads by the end of March.
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