BYD, China’s biggest electric vehicle (EV) maker, reported first quarter 2024 sales fell 43 per cent compared to the fourth quarter of 2023, handing back the title of world’s biggest EV seller to Tesla after winning it last year. BYD sold 300,114 EVs in the first quarter of this year, it said in a filing […]
Category: Power
Power
Despite subsidy cuts, EV sales zoom 41% in FY24; penetration at 6.8%
Electric vehicle (EV) sales this financial year (FY24) witnessed a robust increase of over 41 per cent, notwithstanding the subsidy cuts and regulatory shifts. Total EV registrations in FY24 surpassed 1.6 million, which is significantly higher than last year’s 1.1 million. All this has pushed the overall EV penetration in the country in FY24 to […]
AMO Mobility launches a new Jaunty i Pro high-speed electric scooter
AMO Mobility, a Noida-based electric two-wheeler manufacturer, has launched the Jaunty i Pro, a new high-speed electric scooter. The scooter is targeted towards customers in Tier-I and Tier-II cities, and the last-mile delivery segment. AMO Mobility plans to manufacture 30,000 Jaunty i Pro models for the financial year 2024-25. The company expects that the new […]
PowerMin reviews electricity supply situation as summer comes knocking
As India’s electricity demand soars, the power ministry on Tuesday reviewed the power supply situation to ensure ‘zero load shedding’ during the summer months. The ministry has drafted plans ranging from delaying planned maintenance of thermal power stations to mandatory operations of imported coal-based and gas-based stations till September. In a series of meetings with […]
EV adoption may pose threat to CNG firms dominance in India: Report
Electric vehicle (EV) adoption may pose a threat to the “dominance” of compressed natural gas (CNG) sector in India, according to a report released on Tuesday. Indraprastha Gas Limited (IGL) reports high growth but the city gas distributor’s future may be limited amid the EV surge – a trend reported for such companies in China, […]
JSW Energy to raise $600 million via share sale to institutional investors
Power producer JSW Energy said on Tuesday it will raise up to 50 billion rupees ($599.5 million) by selling shares to institutional investors. The share placement could be done in one or more tranches, the energy arm of JSW Group said in an exchange filing. JSW Energy’s shares closed 4.6% higher ahead of the fundraise […]
‘Wait for 7 months’; Buyers line up as Xiaomi launches new SU7 sedan EV
In a strategic move to diversify beyond its smartphone business, Xiaomi has ventured into the electric vehicle (EV) market, unveiling its SU7 sedan last week. This transition, first hinted at in 2021, marks Xiaomi’s ambitious foray into a new sector amid stagnating demand for smartphones. Partnering with a unit of state-owned automaker BAIC Group, Xiaomi […]
New EV policy: No restrictions on imports from any country, including China
India has no restrictions on the import of electric vehicles from any country, including China, under a new EV policy, a senior government official told broadcaster CNBC-TV18 on Tuesday. Last month, India announced lowering import taxes on certain electric vehicles produced by carmakers who commit to invest at least $500 million and start domestic manufacturing […]
Green mobility: Nitin Gadkari vows to eliminate petrol, diesel vehicles
Union Minister for Road Transport and Highways, Nitin Gadkari, has expressed a bold ambition to transform India into a green economy, aiming for a future completely free of petrol and diesel vehicles. In an interview with PTI, Gadkari championed using alternative fuels, promoting environmentally sustainable transportation, and proposed a reduction of goods and services (GST) […]
India added 21 GW solar modules, 3 GW cell manufacturing capacity in 2023
India installed 20.8 GW of solar modules and 3.2 GW of cell manufacturing capacity in 2023, according to Mercom Capital. The country’s cumulative solar module manufacturing capacity reached 64.5 GW, and solar cell manufacturing capacity 5.8 GW as of December 2023, the US-based research firm said in its latest report, State of Solar PV Manufacturing. […]
After FAME-II, EMPS 2024 to fuel faster adoption of e-2W and e-3W
The Ministry of Heavy Industries has launched the Electric Mobility Promotion Scheme 2024 (EMPS 2024) with an outlay of Rs 500 crore. This initiative is geared towards encouraging the adoption of electric vehicles (EVs) across the country. The Centre announced the new scheme following the conclusion of the second phase of the Faster Adoption and […]
Smartphone giant Xiaomi’s EV buyers face up to 7-month wait for car
Xiaomi is advising would-be buyers of its new SU7 electric sedan that they could face an up to seven-month wait, its app showed on Monday, in a sign that the Chinese electronics maker is enjoying strong demand for its vehicle. Xiaomi began allowing consumers to place orders for its SU7 electric vehicle sedan on Thursday, […]