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French auto parts supplier Valeo bets on India EV transition even as demand cools

New Delhi: Growing adoption of electric vehicles in India is unlocking opportunities for the Indian arm of French auto parts supplier Valeo to increase revenue per vehicle, according to a top company executive, even if sales have temporarily slowed for one of its top customers in India. For instance, we supply Tata with onboard chargers and DC-DC converters, while Mahindra …

The first wave of claims for India's automobile production incentives scheme barely touched ₹500 crore, an amount that may grow exponentially in the years ahead as the electric revolution unfolds and more products secure certification. The PLI scheme, which covers both automakers and component makers, was designed to stimulate production in advanced automotive and EV sectors by providing financial incentives …

Will never give company-specific incentives in EV sector, govt. official on Tesla's demand

India will never provide company or enterprise-specific incentives in the electric vehicle sector, a top government official said on Friday, amid a push from American electric carmaker Tesla for special sops to set up its factory in the country. The official added that inter-Ministerial discussions have happened on the customs duty concession demand of the U.S.-based electric car maker Tesla, …

NEW DELHI : Foxconn Technology Group chairman Young Liu has backed India as an important country for the future of manufacturing, saying that the opportunities for the development of electronics manufacturing and industrial chains were huge. I don’t think it’s perfect to speculate from history, but we feel that development of the entire ecosystem and industrial chain, and the opportunities …

Development

Future bright for India’s EV sector: PM Modi

The future of India’s EV sector is bright, Prime Minister Narendra Modi said on August 28. "Today PM Kishida is taking forward the efforts he made to bring our countries closer," PM Modi said while remembering former prime minister Shinzo Abe. Japan's Prime Minister Fumio Kishida extended his best wishes for the occasion and noted that Maruti Suzuki's expansion over …

No GOI proposal for EV unit in Andhra Pradesh

Reliance New Energy Solar, Ola Electric Mobility, Hyundai Global Motors and Rajesh Exports have been selected for incentives under the Rs 18,100-crore production-linked incentive scheme for advanced chemistry cell battery storage, according to an official statement. “The government approved the PLI Scheme ‘National Programme on Advanced Chemistry Cell Battery Storage’ for achieving manufacturing capacity of 50 gigawatt-hour of ACC for …

Tesla Did Not Apply For PLI Scheme Amid Import Duty Tussle, Indian Govt Reveals

Amid the tussle between the US-based EV maker, Tesla, and the government of India regarding cuts in import duty, another development that has inched away the hopes of Indian car buffs to drive a Tesla. The PLI scheme for the auto sector focused on promoting the research, development, and production of advanced automotive technology products such as electric vehicles and …

The government approved the Production Linked Incentive scheme for promoting battery storage at an estimated outlay of Rs 18,100 crore, with the objective of promoting the 'Make in India' initiative. Welcoming the government's approval of the PLI scheme for promoting battery storage at an estimated outlay of Rs 18,100 crore, SMEV also said it will attract huge investments in the …

Prime Minister Narendra Modi wants Indians to adopt electric vehicles and cut dependency on petrol and diesel vehicles. All Eyes on Nirmala Sitharaman's Budget Speech The Union Budget 2021-22 is likely to see major announcements as industry players look for a corpus in setting up EV infrastructure such as charging stations. Chetan Maini, Co-Founder, Vice Chairman at SUN Mobility with …