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EV industry must learn to do with subsidies: Exponent Energy CEO

Economic TimesEconomic Times · 1y ago
EV industry must learn to do with subsidies: Exponent Energy CEO
Medial

Electric mobility ecosystem should not rely solely on government subsidies like the Faster Adoption and Manufacturing of Electric Vehicles (FAME) program, according to Arun Vinayak, CEO of Exponent Energy. Vinayak suggests moving towards performance-based incentives and production-linked incentives, rather than easy subsidies. The Indian government has recently transitioned from FAME subsidies to the Electric Mobility Promotion Scheme (EMPS). Exponent Energy, founded by former Ather Energy executives, has developed fast-charging technology that can fully charge a vehicle in 15 minutes. Vinayak also emphasized the importance of interoperability in charging infrastructure and the need for safety standards, without forcing standardization that hinders innovation.

Maharashtra Cabinet approves EV policy 2025 with tolll waivers and purchase subsidies

EntrackrEntrackr · 2m ago
Maharashtra Cabinet approves EV policy 2025 with tolll waivers and purchase subsidies
Medial

The Maharashtra cabinet has approved Electric Vehicle Policy 2025 as per which certain electric vehicles plying on highways will be given a toll waiver, and subsidies on purchase of such vehicles to boost their use to help bring down air pollution. The policy was approved in the state cabinet meeting chaired by Chief Minister Devendra Fadnavis. A statement said the policy will be valid till 2030 and Rs 1,993 crore will be earmarked for the sector. "The state government has approved a new Electric Vehicle (EV) policy, under which passenger EVs will be given subsidies. EV manufacturing and their use should increase in the state," said Fadnavis. According to the policy, the charging infrastructure will be strengthened under it and there will be charging facilities on the national highways at a distance of 25 km. The policy also envisages implementing the Clean Mobility Transition Model by giving sops to those buying EVs till 2030. Electric two-wheelers, three-wheelers, private four-wheelers, state transport corporation buses, private buses, transport undertakings under civic bodies will be given 10 per cent concession on purchase as against its original cost. Electric goods-carrying three-wheelers and four-wheelers, electric tractors will be given a concession of 15 per cent as against its original cost. Under this policy, registration fee will also be waived for EVs. Under this policy, toll will be waived for four-wheeler EV vehicles and buses using Mumbai-Pune Expressway, Atal Setu, Samruddhi Mahamarg. Toll will only be 50 per cent for these vehicles plying on state and other national highways.

E-mobility startup Kazam raises $8 Mn led by Vertex Ventures

EntrackrEntrackr · 11m ago
E-mobility startup Kazam raises $8 Mn led by Vertex Ventures
Medial

E-mobility startup Kazam has secured $8 million in Series A3 funding round led by Vertex Ventures Southeast Asia and India. The round also witnessed participation from Avaana Capital, Alteria Capital, and other notable investors. The company had previously raised $11.4 million from Avaana Capital Advisors and others. The fresh funds will be used to bolster its technology and product teams, enhance platform offerings, and expand market presence, Kazam said in a press release. Co-founded in 2020 by Akshay Shekhar and Vaibhav Tyagi, Kazam is an EV charging software platform which builds smart and affordable EV charging networks. The platform weeds out the hassles of EV infrastructure with its software and hardware solutions, designed to support charge point operators, fleet operators, and electricity grids. The startup’s aims to digitize the entire e-mobility value chain, from managing grid energy to fueling EVs and overseeing fleet operations. According to the Bengaluru-based company, its software enables a diverse range of vehicles, including two-wheelers, commercial electric vehicles (CEV) three-wheelers, and city buses, and claims to serve more than 25,000 charging points. It has recently launched LEV-DC, a fast charging option for electric two-wheelers and three-wheelers that can charge an electric scooter up to 80% in 20 minutes. Kazam has partnered with BigBasket, Zypp, Mahindra Logistics and other third-party logistics, facilitating 1 million transactions and integrating over 25,500 EV charging devices in the last 12 months. The firm also added that its reach extends to major vehicle OEMs including Bajaj, Ather, TVS, Hero MotoCorp, Mahindra, and Ultraviolette.

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