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IESA Calls for GST Reduction on EV Batteries, Charging Infrastructure The India Energy Storage Alliance (IESA) has presented a comprehensive wishlist to the government, advocating for significant tax reforms and increased incentives for the EV batteries and electric vehicle (EV) industries, aiming to bolster India’s sustainable energy sector. India Energy Storage Week 2024 (IESW) is scheduled to take place in New Delhi from July 1–5. In anticipation of the event, IESA President Rahul Walawalkar has made crucial recommendations to expedite the nation’s shift towards sustainable energy alternatives. List your business on All India EV exclusive business directory… (click here) At the core of IESA’s proposals is the call for a reduction in the Goods and Services Tax (GST) rates on batteries and EV charging infrastructure. “We are urging the government to bring all batteries under the 18 per cent GST bracket,” IESA IESA President Rahul Walawalkar. Currently, lithium-ion batteries are taxed at 18%, while other batteries face a higher 28 per cent rate. The industry body also advocates for lowering the GST on charging infrastructure services and battery swapping from the existing 28% to either 5% or 18%. (You can now subscribe to our All India EV WhatsApp channel) While praising government initiatives such as the Advanced Chemistry Cell Battery (ACC-PLI) and Auto-PLI schemes, IESA pushed for further expansion of Production-Linked Incentive (PLI) schemes to cover battery components and raw materials processing. The organisation also underscored the need for support in battery recycling initiatives and international collaborations to secure critical raw materials. Join our LinkedIn Community IESA’s recommendations extend beyond tax reforms, encompassing a broad spectrum of policy measures. These include continued incentives for large-scale battery storage systems, streamlined regulatory processes for clean energy projects, and innovative financial mechanisms to overcome the high upfront costs associated with EVs and charging infrastructure. Emphasising the importance of research and development, the industry body called for greater investment in innovation to drive down costs and improve the efficiency of clean energy technologies. IESA also stressed the need for public-private partnerships and skills development programs to support the growing clean energy sector. Click here for more such informative insights As India continues its push towards a greener future, these recommendations from IESA could play a crucial role in shaping the country’s energy landscape. With the IESW 2024 on the horizon, all eyes will be on the government’s response to these industry demands.

Tata Motors Unveils Ambitious ₹18,000 Crore EV Strategy According to a top Tata Motors executive, sales of electric vehicles (EVs) in the local market are projected to increase tenfold over the next five years. However, this growth will still fall short of the government’s earlier objective of 30% of new car sales. “We took a realistic call based on the current state of ecosystem development. Electric vehicles will likely account for 20% of new car sales in the industry. We are targeting 30-40% of our sales to come from electric vehicles by FY30.” Shailesh Chandra, Managing Director of Tata Motors Passenger Vehicles and Tata Motors Electric Mobility. List your business on All India EV exclusive business directory… (click here) The company, which dominates electric car sales in India, had previously estimated that up to half of its volumes would come from EVs during this period. Significant Investment and Market Share Growth To support its electric vehicle business, Tata Motors plans to invest Rs 16,000-18,000 crore to strengthen its portfolio and develop an ecosystem for these vehicles, Shailesh Chandra said. Overall, the company expects the mix of CNG and EVs to increase and aims to raise its market share in passenger vehicles to 18-20% by FY30, up from 13.9% in FY24. “We will look at increasing our addressable market. Currently, with seven products, we are addressing 53% of the market, and in our addressable market, we have a 26% market share. We aim to increase our addressable market to 80% by FY30.” Shailesh Chandra, Managing Director of Tata Motors Passenger Vehicles and Tata Motors Electric Mobility. (You can now subscribe to our All India EV WhatsApp channel) This expansion will include new model launches and upgrades of existing products. Over the next two years, the company has scheduled the launch of the Curvv EV, Curvv ICE (internal combustion engine), and Sierra EV. Strategic Focus Post-Demerger Separately, Tata Motors Group CFO P Balaji explained that the proposed demerger of Tata Motors’ commercial vehicles business will allow the two resultant companies to better focus on their growth strategies. “The commercial vehicle business, which has so far been the cash engine of Tata Motors, will after the demerger be able to invest its cash flows towards its own strategic goals,” Balaji said. Join our LinkedIn Community Meanwhile, the passenger vehicles (PV) business, which has only recently become self-sustainable, will focus on achieving 10% EBITDA (Earnings before interest, tax, depreciation, and amortization) margins across its combustion engine and electric vehicle segments. Jaguar Land Rover will remain with the passenger vehicle arm and is expected to become debt-free by next year. The demerger of the commercial and passenger vehicle business is expected to be complete by the first quarter of the next fiscal year. Growth Drivers for Commercial Vehicles Girish Wagh, Executive Director of Tata Motors Commercial Vehicle, noted that the business is expected to perform well over the next five years. This optimism is driven by rising disposable income in the country, government spending on infrastructure, and measures being undertaken to ensure a larger play of the manufacturing sector in the GDP, leading to increased freight and passenger movement. Click here for more such informative insights Content Credit: EV Mechanica

Mobec is transforming EV charging with sustainable solutions Mobec has unveiled its latest advancements in EV charging solutions, tailored to meet the diverse needs of today’s electric vehicle owners. With a strong emphasis on mobility, sustainability, and seamless integration, Mobec is setting new benchmarks in the EV ecosystem. Recognizing the unique requirements of each client, Mobec offers customized charging solutions for residential complexes, office spaces, logistics companies, and roadside assistance services. These bespoke options ensure that clients receive highly efficient and effective charging infrastructure precisely tailored to their needs. List your business on All India EV exclusive business directory… (click here) Unlike conventional fixed charging stations, Mobec’s solutions are inherently mobile. Their portable charging units can be deployed on-demand, providing unparalleled flexibility. This mobility addresses range anxiety, a common concern among EV owners, by ensuring convenient access to charging facilities wherever and whenever needed. (You can now subscribe to our All India EV WhatsApp channel) Sustainability lies at the heart of Mobec’s operations. They employ green transportation methods such as electric scooters for short-range services and CNG vans for longer distances, with plans to transition to fully electric loaders and pickups. Their portable charging stations minimize reliance on extensive grid infrastructure, reducing environmental impact. Mobec’s innovative solutions effectively alleviate EV charge anxiety. Their mobile units offer on-demand charging, eliminating concerns about running out of power and enhancing the overall EV ownership experience. These solutions are compatible with all types of electric vehicles, from two-wheelers to commercial fleets, ensuring efficient charging across diverse scenarios. Join our LinkedIn Community Mobec is committed to creating a seamless charging ecosystem through advanced technology that integrates easily with existing systems. Their user-friendly mobile app allows for effortless locating, booking, and managing of charging sessions, akin to popular ride-sharing services. Looking forward, Mobec aims to bolster its recycling and e-waste management efforts, further reducing its carbon footprint and supporting the circular economy. By enhancing recycling rates and promoting sustainable consumption, Mobec continues to drive towards a greener future. Click here for more such informative insights

Ather Energy Plans ₹2,000 Crore Investment for Third Plant in Maharashtra Maharashtra’s Deputy Chief Minister Devendra Fadnavis has announced that Ather Energy, a prominent electric vehicle (EV) company, will invest more than Rs 2,000 crore in a new manufacturing facility in Maharashtra, creating approximately 4,000 job opportunities. In a recent update on social media, Devendra Fadnavis shared that during a meeting with Swapnil Jain, Founder of Ather Energy, he was informed about this significant development. List your business on All India EV exclusive business directory… (click here) “Ather Energy, the leading electric scooter manufacturer, has chosen Maharashtra for its third manufacturing facility in Aurangabad Industrial City (AURIC). It is a more than Rs 2,000 crore investment, generating employment of around 4,000,”  Maharashtra’s Deputy Chief Minister Devendra Fadnavis. The state-of-the-art plant aims to produce up to 1 million units of vehicles and battery packs annually. (You can now subscribe to our All India EV WhatsApp channel) “This decision underscores Maharashtra’s favorable business environment and robust policies supporting electric vehicle manufacturing, in alignment with Prime Minister Narendra Modi’s vision for India’s industrial growth,” Maharashtra’s Deputy Chief Minister Devendra Fadnavis “With excellent connectivity facilitated by the Samruddhi Expressway, investors are increasingly recognizing the region’s potential. This substantial investment will not only bolster Maharashtra’s role in the electric mobility sector but also enhance employment prospects across the state,” he added. Join our LinkedIn Community “Given our expanding product range and growing consumer demand, we strategically opted to diversify our manufacturing capabilities to a location that provides closer access to key markets across the country,” Swapnil Jain. “We deeply appreciate the Maharashtra government’s supportive policies that foster the growth of EV manufacturing,” Swapnil Jain. Click here for more such informative insights About Ather Energy Founded in 2013 by IIT-Madras alumni Tarun Mehta and Swapnil Jain, Ather Energy introduced its first electric scooter, the Ather 450, in 2018, followed by the Ather 450X in 2020. The company has also established a robust public charging network, comprising over 1,900 charging points spread across more than 100 cities.

Revfin has unveiled the ‘Jagriti Yatra Abhiyaan’Boost EV Adoption in Uttar Pradesh Revfin, India’s prominent digital lending platform dedicated to sustainable mobility, recently launched the ‘Jagriti Yatra Abhiyaan’ at The Taj in Lucknow. This initiative, following the successful #RevfinBharatYatra campaign, carries the motto “Zimmedari Ki Sawaari” and aims to catalyze electric vehicle (EV) adoption across Uttar Pradesh. Aligned with the state’s objective of achieving 100% EV usage in government departments by 2030, the campaign emphasizes financial empowerment and contributes to net-zero targets. List your business on All India EV exclusive business directory… (click here) During the event, Sameer Aggarwal, Founder & CEO of Revfin, highlighted Uttar Pradesh’s substantial investments in charging infrastructure and the burgeoning opportunities within the state’s EV ecosystem. A panel discussion titled “RevUp Uttar Pradesh: Collaborative Strategies for Accelerating EV Adoption and Sustainable Mobility” featured participation from over 30 EV dealers and industry leaders, underscoring the importance of collective progress. “Uttar Pradesh plays a pivotal role as a flagship state for Revfin, significantly enhancing our business footprint. By 2027, Revfin aims to disburse loans totaling Rs. 3000 crore across various cities in Uttar Pradesh, capturing 20% market share. Through our Jagriti Yatra Abhiyaan, we aim to raise awareness and promote widespread EV adoption across the state. Our primary goal is to revolutionize sustainable mobility, positioning electric vehicles as ‘Zimmedari Ki Sawaari,’ not only reducing carbon emissions but also fostering social and financial empowerment.” Sameer Aggarwal, Founder & CEO of Revfin List your business on All India EV exclusive business directory… (click here) Uttar Pradesh, a frontrunner in EV adoption in India, is executing a comprehensive strategy focused on accelerating EV adoption, bolstering infrastructure, and fostering local manufacturing. The ‘Jagriti Yatra Abhiyaan’ will bolster these efforts in key cities like Lucknow, Prayagraj, Varanasi, Ayodhya, Gorakhpur, Basti, Deoria, Bahraich, Lakhimpur, and Bareilly. Over the next two months, targeted marketing and customer engagement campaigns will promote EVs as viable options for mid-mile and last-mile connectivity. Revfin is actively contributing to Uttar Pradesh’s EV ecosystem by empowering women and expanding its outreach. Women constitute 23% of Revfin’s customer base in the state, many of whom have achieved financial independence through commercial use of e-rickshaws. Operating across 240 cities and towns, Revfin has positively impacted 60 lakh lives, supported by 400 sales points and partnerships with 30 original equipment manufacturers (OEMs). This extensive network underscores Revfin’s commitment to financial inclusion and sustainable mobility across Uttar Pradesh. (You can now subscribe to our All India EV WhatsApp channel) Revfin’s ambitious plans include collaborations with leading OEMs such as Bajaj Auto, Bounce Infinity, City Life, Kinetic Green, Lectrix, Saarthi, Tata Motors, Udaan, and Yatri to scale up the EV market in Uttar Pradesh. To date, the company has disbursed over INR 800 crore in loans, funding more than 55,000 electric vehicles across 22 states, through partnerships with 1,500 dealerships and 50 top OEMs. Join our LinkedIn Community

Castrol’s Strategic $50 Million Investment in Gogoro Castrol, a leading global lubricant brand under BP, is making waves with a significant investment of up to $50 million in Gogoro, a trailblazer in battery-swapping systems. Initially, Castrol will invest $25 million to acquire a 5.72% stake in Gogoro through ordinary shares. An additional $25 million will be invested as a convertible note. This strategic move signals Castrol’s intent to diversify into new, innovative sectors beyond its traditional lubricants business. List your business on All India EV exclusive business directory… (click here) Diversifying with a Vision “Gogoro is a global leader in two-wheeler battery swapping and our investment in Gogoro is a strategic step towards diversifying our portfolio, remaining relevant in our customers’ lives, embracing new opportunities to future-proof our iconic 125-year-old brand, and creating additional value for our shareholders,” Michelle Jou, CEO Castrol. Gogoro: A Leader in Sustainable Energy Solutions Gogoro, based in Taiwan, is recognized for its electric scooters and pioneering battery-swapping technology, positioning it as a key player in the energy solutions market. With nearly two million electric vehicle batteries produced and hundreds of millions of successful swaps, Gogoro has revolutionized urban transportation by enhancing convenience and sustainability. The company’s international acclaim stems from its role in advancing electric mobility with sustainable battery solutions and forming global partnerships. (You can now subscribe to our All India EV WhatsApp channel) The Impact of Castrol’s Investment Castrol’s investment is set to accelerate Gogoro’s growth and expand its global footprint. By providing capital and expertise, Castrol aims to bolster Gogoro’s plans for innovation and expansion in electric mobility solutions. Join our LinkedIn Community Final Thoughts This investment marks a strategic shift for Castrol, moving beyond its core lubricants and fluids business. Partnering with Gogoro, known for its leadership in battery-swapping technology for electric scooters and motorcycles, allows Castrol to explore new opportunities in the evolving mobility sector. While battery swapping has seen mixed success in larger vehicles, it has proven effective in smaller electric vehicles like scooters, where Gogoro has excelled with millions of successful swaps. Click here for more such informative insights

Ather Energy Partners with Tata IIS to Enhance EV Workforce Skills in India Ather Energy has announced a strategic partnership with the Tata Indian Institute of Skills (IIS) to launch specialized training programs in the electric vehicle (EV) sector. By leveraging Ather Energy’s industry expertise and Tata IIS’s commitment to skill development, the collaboration will offer comprehensive courses in EV+ technology and battery specialization. List your business on All India EV exclusive business directory… (click here) India’s EV sector is experiencing rapid growth, driven by technological advancements and increasing consumer adoption. Despite this progress, there is a significant skill gap. A recent study highlights the shortage of technicians trained specifically in electric vehicle systems and battery technologies. “The growing popularity of EVs in India has spurred the demand for a specialized and diversified skill set within the larger automotive sector. While the industry is addressing this challenge effectively, the need for a skilled workforce is also increasing. To actively bridge this gap, we are delighted to work with Tata IIS in providing a skilling solution for the EV sector by developing training programs for EV technicians and battery specialists. We believe such collaborations are essential to cultivate a robust pool of skilled workforce, ensuring that India becomes a global hub for all things EV.” Swapnil Jain, Co-founder and CTO of Ather Energy. (You can now subscribe to our All India EV WhatsApp channel) Ather Energy will develop programs to equip trainees with expertise in battery systems, electric motors, power electronics, charging infrastructure, and vehicle safety. Trainees will gain practical experience in EV maintenance, repair, and diagnostics, along with essential soft skills like communication, teamwork, and problem-solving. Additionally, Ather Energy will supply vehicles, motors, batteries, and other essential hardware to establish EV labs at Tata IIS facilities across the country. Ather Energy will also train Tata IIS instructors at its manufacturing plants and R&D labs. The company will continuously review and update the course content to ensure it stays relevant to industry trends and technological advancements. Join our LinkedIn Community “Tata IIS is committed to equipping young minds with cutting-edge skills in emerging industries. India’s electric vehicle (EV) industry, particularly the two-wheeler segment, is growing at an exponential rate, expanding the need for a highly skilled workforce. We are delighted to partner with Ather Energy, one of India’s leading manufacturers of electric two-wheelers, to launch specialized training programs for EV technicians and battery specialists.” Sabyasachi Das, CEO of Tata IIS. Click here for more such informative insights