1. Government of India plans Rs 2000 crore investment for EV charging infrastructure expansion.
Government of India plans to expand electric vehicle charging infrastructure across important transportation hubs, such as highways, ports and airports. This is the first time ports have been identified for EV charging station installations. The Ministry of Heavy Industries (MHI) is coordinating with the Airports Authority of India (AAI), the National Highways Authority of India (NHAI), the Ministry of Ports, Shipping and Waterways, and various state governments to determine locations for EV charging stations. To facilitate long distance EV travel, MHI has identified 20 national highways with high truck traffic for charging infrastructure.
The installation of EV charging stations & battery swapping stations has been allotted Rs 2000 crore under the PM E-DRIVE programme.
2. Delhi EV Policy 2.0 coming soon with provision of 48,000 EV charging points.
Delhi Government has extended its existing EV Policy by 15 days following its expiry. This extension is supposed to be the final one as authorities give final touches to the new draft policy. Chief Minister of Delhi Rekha Gupta announced a significant expansion of EV charging infrastructure in Delhi, stating that by 2026, the city will have 48,000 EV charging points (18,000 government-operated & 30,000 semi-private). CM Gupta made these announcements on the final day of the 1st Budget Session of Delhi's Legislative Assembly.
3. Ola Electric introduces same-day registration and delivery of vehicles.
Ola Electric has announced the ‘Hyper Delivery’ initiative, offering same-day registration and delivery of vehicles. The pilot of #HyperDelivery has started in Bengaluru, and will gradually be scaled-up across India in a phased manner. Now, customers in Bengaluru can register their Ola EVs online or at an Ola Electric showroom, and ride home on their vehicles in just hours.
The launch of Ola Hyper Delivery is the 1st initiative towards a quick-commerce like experience in the automobile industry.
4. Mahindra retains top spot as India’s no.1 commercial EV manufacturer.
Mahindra has maintained its lead in India's commercial EV segment, marking its position as the top manufacturer for the 4th consecutive year. The automaker, known for its wide range of passenger & cargo electric three-wheelers like Treo, Treo Yaari, e-Alfa Plus, e-Alfa Cargo, Zor Grand & Treo Zor, has recently expanded its portfolio with the introduction of its first cargo electric four-wheeler, the Mahindra Zeo.
Mahindra Last Mile Mobility has not only maintained its position as the leader in the commercial EV sector but also witnessed an significant increase in EV penetration within the segment, reaching 24.2% from 16.9%. The company holds a 37.3% market share in the L5 category, demonstrating its contribution in the advancement of the commercial EV market in India.
5. After Mahindra, BMW India says ‘not worried’ about Tesla’s entry.
After Mahindra, BMW India has given a statement regarding Tesla entering the EV market in India. The company sees Tesla's entry as a possible growth driver for the segment. BMW India MD & CEO Vikram Pawah stated, ”I think the market should grow. Anytime there’s more competition, we’ve seen that the market grows.” He continued, “In all the markets in the world, we coexist.” Last month, a twitter user asked Anand Mahindra about Tesla’s expected entry in the Indian market. Mahindra said that he has been asked “similar questions ever since the opening up of the Indian economy in 1991.”
However, after reports of Tesla making an entry in the Indian market surfaced, shares of Mahindra have continuously fallen. The stock has declined almost 15% in seven trade sessions.
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