Week 39 (Sep 20 - 26)
Highlights from Tesla battery day, Ola Electric's plans to assemble its e2W in India, Sanctioning of additional buses & chargers, Incentive for battery makers and EV Motors + Hero Electric partnership
Tesla Battery day: Click to read highlights from Tesla battery day.
Ola Electric looks to assemble EVs in India. As per a report by Livemint, Ola Electric is in talks with more than 20 EV OEMs to locally assemble its electric two-wheelers as it prepares for a launch in India. In May, Ola Electric acquired the Netherlands-based electric two-wheeler startup Etergo that made AppScooter for an undisclosed amount to expand its EV capabilities. Popularly branded as “the Dutch Tesla on two wheels,” the AppScooter is an electric two-wheeler that uses special batteries, giving it remarkable range and acceleration. Since its incorporation, OlaElectric has been working closely with the EV ecosystem but doesn’t have much to show for it.
670 new e-buses and 241 charging stations sanctioned. The government has sanctioned additional 670 e-buses in Maharashtra, Goa, Gujarat, and Chandigarh and EV Charging stations in MP, Tamil Nadu, Kerala, and Gujarat under FAME II Scheme. With total budgetary support of Rs 10000 crores, the scheme intends to support 7000 e-buses, 10 lakh e-2Ws, 5 lakh e-3Ws, and 55000 e-4Ws along with the creation of charging infrastructure. Earlier through FAME I, the Department of Heavy Industries had supported 2.80 lakh hybrid and electric vehicles by means of demand incentives amounting to Rs 359 crores and sanctioned 520 charging stations across Delhi, Jaipur, Chandigarh, and Bangalore.
India plans a $4.6 billion incentive package for battery makers. In a report accessed by Reuters, Niti Ayog has proposed sops for battery manufacturers in a bid to accelerate the EV push in India. The think-tank has recommended cumulative cash and infrastructure incentives of $4.6 Billion to make India ‘Atma-nirbhar’ in the battery space. “Currently, the battery energy storage industry is at a very nascent stage in India with investors being a little apprehensive to invest in a sunrise industry,” the proposal said. India imports all its battery needs and has an import tax of 5% which will be increased to 15% after 2022 to encourage local production as part of phased manufacturing guidelines. The move is important to reduce reliance on imports from China, which controls almost 80% of the world’s raw material refining, 77% of the world’s cell capacity, and 60% of the world’s component manufacturing.
EV Motors India and Hero Electric partner for EV push in last-mile delivery. Hero Electric has teamed up with EV Motors to roll-out battery solutions and charging infrastructure for its scooters. Under the partnership, EV Motors will supply ‘quick charging’ batteries to Hero Electric as well as build more EV charging stations under the brand ‘Plug n go’. The current e2Ws take 4-5 hours for them to charge which can adversely affect unit economics if the vehicle is used for deliveries. Through quick charging, the turn around time will be drastically reduced. 2020 has been a busy year for Hero Electric, India’s largest electric 2-wheeler company - in April, during the height of lockdown, the company started taking online bookings, in July they launched subscription plans for their scooters and in Aug tied up with Oto Capital for leasing.
Other News
Nikola’s founder steps down as the company faces fraud allegations.
Average cost of Lithium-ion battery cells likely to fall to $100/KWh by 2023.
New 'Blade Battery' from China's BYD is cheaper & safer, is it the future?
EVs accounted for 21% of the European car market in August 2020.
Electrified by Tesla, Chinese electric vehicle startups are on the charge.
Volkswagen Introduces ID 4 Electric Suv with 250 miles range for $40,000.