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JSW Group doubles down on EVs with plans for e-buses, e-trucks
Livemint
·
1y ago
Medial
JSW Group, led by Sajjan Jindal, is entering the electric vehicle market by planning to manufacture electric buses and eventually electric trucks in Odisha. The group is seeking a partner to manufacture the vehicles and aims to establish a lithium-ion cell manufacturing plant in Odisha. JSW hopes to take advantage of the government's push for widespread adoption of electric buses and leverage its expertise in steel and battery manufacturing to drive down costs. The company has also applied for the government's production-linked incentive scheme for advanced chemistry cells.
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EV Subsidy Scheme: Cabinet Approves PM E-DRIVE With An Outlay Of INR 10,900 Cr
Inc42
·
11m ago
Medial
The Indian government is set to implement PM E-DRIVE, a new scheme to promote electric vehicles (EVs) that will replace the existing FAME scheme. With a budget of INR 10,900 Cr over two years, PM E-DRIVE aims to provide subsidies and demand incentives of INR 3,679 Cr for various types of EVs, including two-wheelers, three-wheelers, ambulances, trucks, and other emerging EVs. The Ministry of Heavy Industries plans to introduce e-vouchers that EV buyers can use to avail demand incentives.
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JSW aims to produce EVs at affordable price: Sajjan Jindal
Thehindubusinessline
·
1y ago
Medial
The JSW Group plans to revolutionize the automotive industry by producing affordable and technologically advanced electric vehicles (EVs) and batteries. With a target of producing EVs at the same price as combustion engines, the group aims to encourage wider adoption of EVs in the cost-competitive Indian market. Three key strategies for achieving this goal include utilizing the right battery technology at a reasonable price, reducing dependence on the Chinese supply chain, and focusing on research to produce EVs specifically designed for the Indian market. The group aims to contribute to reducing carbon emissions and decreasing India's dependence on oil imports.
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ChargeZone Unveils Digital Platform For Battery Management
Inc42
·
9m ago
Medial
ChargeZone is a startup that offers high-speed charging networks for electric vehicles (EVs). The company has developed a digital platform called Battery Passport System, which collects data throughout the battery's lifespan to maximize its value and facilitate repurposing and recycling efforts. ChargeZone was founded in 2018 by Hariyani and aims to revolutionize the charging infrastructure for EVs, including cars, buses, and trucks.
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PM e-drive scheme to aid in faster adoption of EVs: M&M, Tata Motors
YourStory
·
11m ago
Medial
Indian automakers Mahindra & Mahindra and Tata Motors have praised the PM e-drive scheme, a project aimed at promoting the adoption of electric vehicles (EVs) in India. With a total budget of INR 14,335 crore, the scheme includes the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme and the PM-eBus Sewa-Payment Security Mechanism (PSM) scheme. Both companies believe that the scheme will boost EV penetration in the country and accelerate India's transition to zero-emission mobility. The scheme offers subsidies and incentives for various EV categories, including electric two-wheelers, three-wheelers, ambulances, trucks, and buses.
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Diesel remains vital for India despite rising green fuel
Inshorts
·
2m ago
Medial
Despite a slowdown in diesel sales growth, the fuel remains critical for India's transport, agriculture, and industry sectors. Alternatives like EVs and CNG are rising, especially in cities, but diesel still dominates long-haul trucks and buses. Experts say green fuels are far from replacing diesel's utility in the next 6-7 years, making its exit anything but imminent.
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Daimler India posts highest-ever annual domestic volumes in 2023
Thehindubusinessline
·
1y ago
Medial
Daimler India Commercial Vehicles (DICV) has achieved its highest-ever annual domestic sales of BharatBenz trucks in 2023, driven by strong demand and network expansion. The company recorded a 39% increase in sales, selling 25,435 trucks and buses in the Indian market. The company's previous highest annual sales were in 2018 with 22,530 units sold. DICV expects continued growth in the Indian market, as the upper medium-duty and heavy-duty truck market is projected to grow by 70% by 2030. The company is also investing in zero-emission vehicles, including battery electric, hydrogen fuel cell EVs, and hydrogen combustion engines.
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Odisha clears JSW's Rs 40,000 Crore proposal to set up EV manufacturing units
OutlookIndia
·
1y ago
Medial
The Odisha government has approved a proposal by the JSW Group to establish electric vehicle (EV) manufacturing units in Cuttack and Jagatsinghpur districts with an investment of Rs 40,000 crore. The project aims to create over 11,000 jobs. JSW plans to set up an EV and EV battery manufacturing project in Cuttack, along with an original equipment manufacturing (OEM) plant for EVs and components. In addition, a complex for EV components manufacturing, including a copper smelter and a lithium smelter, will be set up in Jagatsinghpur. The state government also approved various other policies and projects.
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Ashok Leyland invests ₹25 cr to buy 50% in TVS Trucks & Buses
Thehindubusinessline
·
1y ago
Medial
Ashok Leyland has acquired a 50% stake in TVS Trucks and Buses for ₹25 crore. TVS Trucks is an automotive dealership company in India. Through this investment, Ashok Leyland aims to enhance its automotive business. Following the allotment by the Board of Directors of TVS Trucks, Ashok Leyland's shareholding in the company stands at 49.9%, making it an associate company.
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How Clean Electric Wants Dominate The Indian EV Paradigm With Its 12-Minute Battery Charging Tech
Inc42
·
1y ago
Medial
Pune-based startup Clean Electric is developing 12-minute charging technology for two- and three-wheeler electric vehicles (EVs) in India. The company uses nickel manganese cobalt (NMC) and lithium iron phosphate (LFP) cells, and claims its batteries offer high cycle life and consistent performance across all public charging stations. Clean Electric's technology can be used with any charging station set up by major companies, and the batteries are also being scaled for use in electric buses and trucks. The lack of robust EV charging infrastructure and long charging times are global challenges preventing widespread EV adoption.
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JSW Group to increase stake in JSW MG Motor India amid SAIC's exit from Indian Market
Economic Times
·
1m ago
Medial
JSW Group plans to increase its stake in JSW MG Motor India, a joint venture with SAIC Motor. SAIC is prioritizing investments in China and Europe, reducing focus on India. JSW aims to become the largest shareholder in the venture, which manufactures the Hector SUV and Windsor EV. Additionally, JSW is pursuing licensing agreements with Chinese automakers to boost its electric vehicle offerings, focusing on localization amid geopolitical tensions with China.
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