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EV Opportunities for start-ups in India

by admin
written by admin
ARK Infosolutions PVT LTD, a leading Value-added distributor of products from Media & Entertainment, Manufacturing, Architecture, Engineering, Construction, Higher & Creative Education.
Shishir Garg
Country Manager – Digital Manufacturing | ARK Infosolutions Pvt. Ltd.

India is quickly moving in the direction of e-mobility with the intent to increase demand for electric vehicles (EV’s). Also, the support from government in terms of easing regulations, launching new schemes to incentivise the customers and manufacturers, reduction in battery cost and availability of charging infrastructure are expected to be instrumental for mass and quick adoption of EV’s. The booming EV market will be a major contributor for the economic growth in the automotive sector as well as for generating jobs.

The industry is expected to be moving away from fossil fuels to Electric Vehicles very fast and it is expected to have around 58% of the market share by 2030. The demand will surge for all, across the automotive segment. However, more surge is expected in the two and three wheelers segment in the next 3-5 years.

This huge growth will bring lots of opportunities and challenges for the automotive sector in the country.

Challenges:

●  Lack of Charging infrastructure

●  Lack of Battery and Motor Manufacturing

●  Lack of Trained Manpower

●  High Initial cost

●  R&D Activities Opportunities for Start-ups: Start-ups will play a pivotal role in the evolving e-mobility space, charging infrastructure and mobility are the key opportunities for start-ups. Additionally, Battery and Motor Manufacturing would be another growth opportunity for the start-ups, and for this they need to adopt technologies like Ansys (Simulation) and Stratasys (3D Printers) to design and develop better and safer products. These solutions will help them to reduce cost and time to market by understanding the behaviour of products in different environments and conditions digitally. Also, with the use of 3D printing technology, companies need not to wait for months for the costly tooling’s – even for prototyping purposes. 3D printers will help them to reduce product development cost dramatically, on-demand availability of physical prototypes, mass customization and additionally can be used in many other ways to innovate and design better products. Also, in 2019, Government of India launched the FAME II scheme, thru which the government has proposed to invest about USD 1.4 billion to incentivize the production of electric vehicles in the country. However, FAME II policy also requires 50% localization in vehicle production to avail of the incentive. This will give huge opportunities to start-ups for exploring the manufacturing opportunities in India.

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Electric Vehicles

Ola launches electric category in London as part of its global commitment to greener, more sustainable future

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written by admin

Ola EV is a new, fully electric vehicle only category, available across London at no extra charge

Ola, one of the world’s leading mobility companies, announced that it is launching a new electric vehicle category on its ride hailing platform, which will allow riders to specifically book rides in a fully electric vehicle. The category, called Ola EV, is a global first for Ola and will be available across London from today and over time will roll out to other cities around the world where Ola is operational. The Ola EV category will cost riders the same as a comfort category on the Ola app. Ola EV has 700 drivers across London and this is expected to grow quickly over the coming months.

This is the first step in a series of measures Ola will make over the coming months, detailing its commitment to green transport networks, zero-emission travel and further supporting the Mayor of London’s bold plans to improve air quality across the capital.

Mahindra Electric is revolutionising India’s last and first mile commute

To incentivize drivers to use the new Ola EV category, Ola will offer a market-leading 0% commission rate for the first 3 months for all electric rides. Post the launch, Ola plans on extending offers through key partnerships to provide easy and affordable options for drivers and riders to shift to fully electric vehicles.

This driver-centric approach will help to significantly increase the number of fully electric Private Hire Vehicles (PHVs) in use and will also empower riders with an additional green option for their travel needs. 

Ola has taken a holistic approach to sustainability and electric mobility. The company recently announced the launch of the world’s largest two wheeler factory in Tamil Nadu, to build its range of electric two wheelers. Ola is building this Futurefactory at record speed, with its first phase expected to be operational this summer and the full factory ready by next year. The company’s electric two-wheelers will be produced in this facility which will be spread across 500 acres of land with 10 production lines and a staggering capacity of 10 million units/year. Ola plans to launch the vehicle in the UK and Europe in the near future.

Ola will also provide charging solutions to all its electric two-wheeler customers with the recently unveiled the Ola Hypercharger Network, the charging network for its upcoming two wheeler products starting with the Ola Scooter to be launched in the coming months. Ola will offer the most comprehensive set of charging options to its electric vehicle customers through a combination of widely deployed high-speed Ola Hyperchargers and the home-charger that will come bundled with the Ola Scooter.

Marc Rozendal, Managing Director of Ola UK, said: “Since launching in the UK, Ola has consistently looked to innovate and help solve the toughest mobility challenges. The launch of Ola EV is another great example, offering riders and drivers the opportunity to play their part in the journey to emission free rides. I am especially proud of the initiatives we are putting in place to help drivers make the switch to fully electric vehicles and that we have been able to do this at no extra cost to riders. I am excited to launch this category as a global first for Ola and while Ola EV will start in London, we can’t wait to begin expanding it across the country and cities around the world.”


Drivers looking to sign up for Ola’s new category Ola EV can register at https://ola.co.uk/

About Ola:

Ola is India’s largest mobility platform and one of the world’s largest ride-hailing companies. Ola revolutionised urban mobility by making it available on demand for over a billion people across 3 continents. Today, Ola continues to move the world to sustainable mobility through its ride hailing platform as well as through advanced electric vehicles manufactured at its Futurefactory, the largest, most advanced and sustainable two wheeler factory in the world. Ola is dedicated to transitioning the world to sustainable mobility and making the world better than we found it.

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Electric vehicles get UP CM Adityanath’s push

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In a major push to electric vehicles and e-rickshaws, chief minister Yogi Adityanath has said that this technology needs to be given precedence over conventional fuel like petrol and diesel.

During a review of electric vehicles by the department of infrastructure and industrial development on Thursday, the CM proposed an exemption in road tax and registration fees in order to promote electric vehicles. Assessing the proposed amendments to the Uttar Pradesh Electric Vehicle Manufacturing Policy-2019, the CM said that since electric vehicle manufacturing was an emerging sector, it was necessary to liberalise the policy and encourage mega investments.

He said: “I have directed officials to make policy efforts to encourage manufacturing of electric vehicles in the state for a better future. Proposals have been received from various international automobile companies for setting up electric vehicle manufacturing units in the state. We will be providing all possible help to the companies. This will promote industrial investment in the state.”

Telangana state government announces EV and energy storage policy

The CM said that a centre of excellence will be established at the earliest for research and development, testing and certification in the electric vehicle industry. To encourage the industry, the CM said that private electric vehicle parks should be given benefits under the state’s private industrial park scheme and other incentives which have been provided to the bulk drug parks.

For charging e-vehicles, the CM said that a revenue sharing model should be used for setting up charging stations. He also said that there was a need for giving capital subsidy to industries in place of the current rules of SGST reimbursement.

The CM said that e-rickshaws should be promoted over diesel tempos and autos to reduce pollution. For this, he added, drivers of diesel rickshaws should be provided loans under various schemes of the central or state government related to self-employment for purchase of e-rickshaws.

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Telangana state government announces EV and energy storage policy

by Industrial Outlook
written by Industrial Outlook

The state of Telangana is the latest to come out with a comprehensive policy directed at the e-mobility industry and eco-system. Earlier today, the state government ​announced its ‘Electric Vehicle & Energy Storage Policy 2020-2030’, which aims to make the region a preferred destination for EV manufacturing and a leader in the adoption of green vehicles.

The state has announced several steps, that it believes will help make the state an EV manufacturing and adoption hub. The EV policy makes incentives available for manufacturing of electric vehicles, energy storage systems and related components in Telangana.

The government will provide incentives that includes capital subsidies, SGST (state GST) reimbursements, power tariff subsidies, etc. Incentives shall be made available for two-, three-, four-wheelers, LCVs, shared transport and public transport. Furthermore, waiver on road tax and registration charges, incentives for charging infrastructure will also be given. The policy also encourages ride-hailing services to operate electric vehicles through incentivisation. Battery operated feeder shuttle services at all Hyderabad Metro stations for last-mile connectivity is also announced.

The state government will further promote the adoption of EVs at the institutional level starting at government entities. While a preferential procurement to ‘Make in Telangana Electric Vehicles and Energy Storage Systems’ for government orders shall be provided.

Kalvakuntla Taraka Rama Rao, Minister for IT E&C, MA&UD and Industries & Commerce Departments, Telangana said: “With the advent of clean technology and high-density energy storage solutions, a shift to cleaner transportation is inevitable and electric vehicles are no doubt the future of mobility. The state of Telangana, being a pioneer in adopting sustainability, aims to spearhead the EV revolution in the country. As the state drives the faster adoption of electric vehicles, it aspires to be not just self-sufficient, but also a global hub for electric vehicles and energy storage systems manufacturing. It is our vision to become the most electrified state in the country.”

Purchase incentives 
Road tax and registration fee exemption for the first 200,000 electric 2-wheelers, 20,000 electric 3-wheelers and 5,000 four-wheeler for commercial use (cabs, taxi, tourist cabs) purchased and registered within Telangana. Retrofitment incentive at 15 percent of the retrofitment cost upto Rs 15,000 per vehicle for first 5,000 three-wheeler auto rickshaws.

Exemption of road tax and registration fee for first 10,000 e-3W (goods), e-carriers as well as electric light goods carriers. For the first 5,000 electric cars registered by private users exemption of road tax and registration fee. Road tax and registration fee exemption for first 500 electric-buses. State Transport Units will be encouraged to purchase electric buses. The government has also waived of road tax and registration fee for electric tractors.

Charging infrastructure
In terms of providing the necessary support to the EV ecosystem the Telangana government has said that it shall facilitate setting of up initial batch of fast charging stations in Hyderabad and other towns in a phased manner, by state entities and private players. The state will provide special power tariff category for EV charging stations. TSREDCO (the state nodal agency) will evaluate to establish public charging stations directly or under licensee/franchise/PPP model at public places such as airports, railway/ metro stations, parking lots, bus depots, markets, petrol stations, malls and electric poles shall be examined for the same.

The policy will also help towards creating a viable business model for private players to set up ARAI compliant EV charging/swapping infrastructure. TREDCO will coordinate with state DISCOMS to ensure supply of renewable energy for EV charging stations and set up solar rooftop plants as per net metering policy and captive power plants shall be encouraged as per the TSREC Guidelines.

Manufacturing incentive
The Telangana government says it will incentivise EV and ESS sectors as per the subsidies and incentives available under the Electronics Policy 2016. The government will extend tailor-made benefits to Mega and Strategic Projects on case to case basis. Investment of more than Rs 200 crore in plant and machinery or providing employment to more than 1,000 persons will be categorised as mega project.

The announced incentives for manufacturers include –

  • Capital investment subsidy – 20% of investment capped at Rs 30 crore for mega enterprises.
  • SGST Reimbursement – 100% net SGST reimbursement capped at Rs 5 crore per year with a cumulative cap of Rs 25 crore over a period of 7 years for mega enterprises.
  • Power tariff discount of 25% for 5 years capped at Rs 5 crore for mega enterprises.
  • Electricity duty exemption of 100% for 5 years capped at Rs 50 lakh.
  • Interest Subvention at 5.25% for 5 years capped at Rs 5 crore.
  • Transportation subsidy at 60% with 10% reduction YoY – for 5 years; capped at Rs 5 crore.
  • Stamp Duty/ Transfer Duty/ Registration Fees Reimbursements: 100% on first, 50% on second transaction.
  • The state will also provide lease rental assistance, assistance in patent filing, reimbursement of quality, certification costs, cleaner production cost reimbursement, exhibition cost reimbursements, skill development assistance. 
  • Telangana has identified Electronics Manufacturing Clusters (EMC) and Industrial Parks for promotion of EV and energy storage manufacturing companies. Currently EMCs exist at Raviryal and Maheshwaram, a designated industrial park at Divitapally for Energy Storage manufacturing, with additional parks are being designated.
  • The state will encourage manufacturing and assembly of EV related batteries and cells through electronics manufacturing policy and incentives.
  • It shall promote reuse of EV batteries in stationary energy storage applications. The state will enable collaborating between cell/ battery manufacturers, EV manufacturers, energy storage operators and recyclers to ensure efficient reuse and recycling of batteries.
  • Urban mining of rare materials and cell/ battery recycling shall be incentivised on par with EV and ancillary manufacturing.
  • Residential Townships with over 1,000 families are encouraged to develop charging stations lots.
  • The state envisions have a charging/ swapping station for every 50km within state boundaries on highway to cities like Bangalore, Mumbai, and Chennai, followed by other national/state highways.
  • HMR stations and TSRTC Bus depots (across the state) shall provide reserved parking and charging points for two-wheelers in their parking zones to encourage EVs for last-mile commute.
  • The government shall develop night-time community parking with charging facility in PPP mode for e-autos, shared mobility taxis and public transport vehicles within industrial zones.
  • A battery disposal infrastructure model shall be created to facilitate deployment of used EV batteries. 

Developing EV and ESS cluster

The Telangana EV Policy has also announced development of mega EV and ESS manufacturing cluster with global standard infrastructure. The EV cluster shall have common facilities as given below –

  • Support infrastructure like roads, power, and water shall be provided at doorstep of the industry
  • Built-Up space with ready factory sheds shall be developed to be used mainly by MSME units
  • A common facility for design, prototyping, and testing available to all units in the cluster
  • Common infrastructure such as drainage/ common effluent treatment plant (CETP)/sewage
  • treatment plant (STP) and utilities such as power, gas and water
  • A state-of-art business environment with facilities such as Convention and exhibition centres
  • Shared facilities to meet staffing and training requirements
  • A logistics hub to provide with multimodal transport for safe and efficient handling of cargo

Promoting R&D in Telangana
A dedicated facility shall be developed to house EV R&D centres by domestic and global EV Majors. The state government will utilise Hyderabad’s strength in technology domain shall to provide quality manpower for such centres. This hub is also expected to attract global R&D activities on other emerging mobility trends such as connected and autonomous vehicles.

The state government will also partner with premier Technical Institutes and research establishments across the state to establishing Centres of Excellence for conducting market-focused research on battery technologies, battery management, motors, and controllers. It will also seek industry participation and leverage the government of India EV policy to provide grant to these centres. The government says NFTDC (Non-Ferrous technologies Development center) at Hyderabad is running one such COE on electric vehicle technologies, under the government of India FAME scheme.

T- Fund – the government shall offer financial support to start-ups for research and innovation in EV and battery technologies. Yearly awards shall be instituted to recognise breakthrough work in battery technologies in separate categories for OEM’s, ancillaries and start-ups

T-Works Automotive Prototyping Center – recognised as India’s largest prototyping centre,  T- WORKS shall have a dedicated wing for prototyping of EV components/ assembly and battery. Industry partnership in the same shall be invited from EV OEMs and large component manufacturers. The facility shall serve start-ups and MSME units in the EV space at subsidised rates.

Sohinder Gill, director general, SMEV welcomed the announcement and said, “We welcome the announcement of EV policy by Telangana government. While the policy offers non-fiscal incentives such as encouraging ride-hailing services, institutional adoption and government buying, extends support for the creation of charging infrastructure and setting up of manufacturing units but, it misses offering direct incentives to customers, which are much required to motivate the citizens to adopt environmentally-friendly vehicles. We believe that bringing volumes should be the priority of the policy that would automatically augment the market. We hope that the government would look into it and come up with a direct subsidy scheme, which will help in demand creation.”

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Electric VehiclesNews Room

AMPERE ELECTRIC ANNOUNCES ‘UNLOCK LIFE’ CAMPAIGN

by Industrial Outlook
written by Industrial Outlook
~ Launches new range, new website experience and a multi-language call-centre
~ Aims to increase EV adoption with exclusive experience & best-in-class festive offers for fast growing customer base

Ampere Electric, a wholly-owned electric mobility subsidiary of Greaves Cotton Ltd., is all geared up to enhance the EV adoption in India with the launch of the ‘Unlock Life’ campaign. This campaign is an ode to new breed of EV buyers seeking wide range of Ampere electric scooter buyers after unlock is announced and more markets are reopened. On this eve, Ampere electric announces unique phygital campaign supported by new range of e-scooters, customised online buying experience & multi-language Call Centre which will operate uninterrupted way to help increasing buyers know more about various aspects of product, share knowhow on features, financing & privileged benefits of getting in to privileged HOLA (Happy Owners League of Ampere) family, thus enhance the EV buying experience across India.

There has been a good uptick in customers visiting showrooms & online, more from smaller towns across the country. To cater this new increasing demand for electric vehicles especially in rural areas, Ampere Electric is creating an easy platform for customers to interact & know more about usage, new schemes & lifecycle savings over conventional petrol scooters, thus enhance accessibility for everyone. With new and enhanced product features in Reo, Magnus, Zeal and V48, Ampere is not only enhancing the style quotient but also upgrading the performance & range for long drives. With these benefits both B2C & B2B fleet buyers can actively consider Ampere escooters & become part of the grand celebration planned this festive period.

Speaking on the occasion, P Sanjeev, COO, Ampere Electric said, “At Ampere Electric, we are actively listening to voice of customers & have created unmatched product range, robust service backup, and easy financing options to facilitate the seamless transition towards electric scooters. The category is new & still we see lot of myths & queries related to overall EV usage especially from the new markets. Our Toll Free Customer care is now available all 7 days from 9am to 9pm and in 6 languages., Ampere’s new website is faster, with host of features such as virtual reality based product demo & test ride experience, easy lease to own options, dealer locator, savings calculator and more.”

Ampere electric has fostered clean last mile mobility with electric scooters starting from Rs 34,000 and attractive EMI as low as just Rs 51/ day. The range includes products in the economy segment with V48, V 48 plus, Reo LA, Reo plus LA, REO Li, REO plus Li Magnus 60, Reo Elite LA, REO ELITE Li & performance segment with Zeal, Zeal EX & Magnus Pro. Recently, Ampere has also announced its partnership with OTO Capital for easy financing and Autovert Technologies for battery subscription to enable faster adoption of EVs in the country. Ampere electric has also introduced Special 0% interest Schemes for e2W buyers in conjunction with various financing partners. With easy financing options, owning an electric 2W is much more accessible.

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Mahindra Electric is revolutionising India’s last and first mile commute

by Industrial Outlook
written by Industrial Outlook

Over the last five years, shared mobility has grown exponentially in India. Increasing urbanisation has seen an increase in corporate commute and despite the presence of cab hailing aggregators, majority of Indians opt for public transport creating a huge demand for last and first mile commute. Seeing an opportunity here and with the aim of taking e-mobility to masses, Mahindra Electric has designed India’s first electric three-wheeler platform with the Mahindra Treo. Mahindra Treo addresses issues of short distance commute, a few kilometre or less, to get from your origin to the nearest transportation hub. Electric three-wheelers and new-age micro-mobility segments will drive the EV category growth. Going forward, the last and first mile segment will be further enhanced by the electric quadricycle segment that will offer clean and connected mobility solutions. Mahindra will be launching the three-seater Mahindra Atom electric quadricycle which is practical, spacious and futuristic, later this year.

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Electric VehiclesElectrical Power Industry News

Tesla tests the circuits for German energy market push

by Industrial Outlook
written by Industrial Outlook

Musk’s Tesla has recently acquired a licence that will enable the carmaker to trade electricity across western Europe and the company has also been surveying customers in Germany about potentially using Tesla electricity in their cars

Elon Musk appears to be opening a new front in the European battle for electric car supremacy: the power behind the wheel.

Musk’s Tesla has recently acquired a licence that will enable the carmaker to trade electricity across western Europe and the company has also been surveying customers in Germany about potentially using Tesla electricity in their cars.

Such moves, consultants and energy industry executives say, could set the stage for the company – possibly with one or more partners – to take on established utilities in Germany, Europe’s biggest power market and autos heartland.

Tesla declined to comment about its energy market plans.

Generating and trading power could help Tesla lower the running costs of its cars at a time rival automakers, including Germany’s BMW, Audi, Porsche and Mercedes, are churning out new electric models.

It could also step up competition to utilities such as Vattenfall and EnBW, which are investing in electric mobility services too, but which like peers RWE and E.ON are lumbered with the cost of winding down fossil fuel and nuclear power plants.

Tesla already sells solar panels and the Powerwall battery storage system for homes, but now appears to be looking at selling electricity directly to customers and using the home storage systems to provide services to the grid.

In June, the company became a member of the Paris-based EPEX Spot power exchange, a platform used to trade much of western Europe’s intraday cross-border electricity.

A month later, it surveyed German customers about their interest in energy services.

“What would encourage you to switch from your existing energy supplier?”, the survey said, according to a copy seen by Reuters. “Would you buy a Tesla photovoltaic system and home storage (Tesla Powerwall) if you could switch to a specially designed Tesla electricity tariff?”, it added.Tesla also asked potential energy customers whether they would allow the company to control when cars would charge.

This could allow it to coincide charging with cheap electricity rates during off peak hours, consultants and industry executives said.

It could also open the way for Tesla to use power stored by customers to help balance the electricity grid, an increasingly important service in Germany as it becomes ever more dependent on volatile wind and solar power. Companies offering similar services in Germany include Shell-owned sonnen, virtual power plant operator Next Kraftwerke, and power aggregator Lichtblick.

RENEWABLE ENERGY

Tesla’s interest in renewable energy was one of the factors that led it to choose Brandenburg state around Berlin as the site for a new factory, a person familiar with the company’s deliberations told Reuters.

In the first half of this year, some 65% of the electricity on the Brandenburg grid was generated from renewable sources, mostly wind. But like other areas in the north of the country, it often wastes energy because Germany’s networks are limited in how much green power they can transport over long distances.

Tesla’s Gigafactory 4 in Brandenburg will on its own require 100 megawatts (MW) of power and up to 400 MW if battery cell production is also launched, according to transmission grid operator 50Hertz.

Tesla is a long way from building up enough battery assets to deliver frequency regulation at grid scale, say specialists such as utility Axpo. But the company has made several steps to expand its energy activities in recent months.

In May, it applied for a UK licence to supply power, according to the Telegraph newspaper. It also uses a platform to bring users of its solar and Powerwall battery system into the electricity market in Australia.

“The next and obvious step for Tesla is to get into production, especially of renewable power,” said consultant Berthold Hannes, who has 30 years of energy advisory experience.

“Tesla could use its own locations, for example the roofs of plants or the sites of charging points, and alternatively, or in addition, it could take stakes in solar plants or wind parks,” he said.

Germany pioneered the solar power market, and is in the process of laying a policy framework that will make it easier for decentralised power generation and supply.

“Tesla’s long-term plan definitely includes tackling the energy industry in a bigger way, though it’s questionable whether it invests enough at the moment in that area,” said a former member of Tesla management, who declined to be named.

Thomas Deser, a portfolio manager at Union Investment, said it was unlikely Tesla would enter the German electricity distribution business on its own – “but it could do so with a competent partner from the energy industry.”

Source: ET

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Government preparing scheme for battery cell manufacturing to boost EV adoption: Amitabh Kant

by Industrial Outlook
written by Industrial Outlook

The government is not in the business of dictating which technology should be used. Tomorrow a new technology might emerge, said Kant while replying to a question.

Niti Aayog CEO Amitabh Kant has been at the forefront of championing greater EV adoption and headed the steering committee that produced a detailed report last year laying down a road map for the switch to electric mobility. In an interview with Sruthijith KK, he expressed optimism about the journey.

How does the geopolitical tensions with China affect our EV roadmap?
I see it as a good thing. This will force us to indigenise faster. Manufacturers like Mahindra, Kinetic and Ather already have indigenized substantially. We should aim for greater indigenisation and when circumstances force us, we will get there faster. This is how Maruti evolved. We are already a hub for compact car manufacturing, and are the world’s largest manufacturer of 2 wheelers, 3 wheelers and trucks. What’s the big deal about EVs?

But this level of indigenisation is excluding battery
Yes. We are coming up with a scheme for battery cell manufacturing. It’s in the process of being finalized. India has already started battery packaging, which constitutes nearly 30–40% of the total value. There is no technology that is not available in India. What we need is to create the right circumstance for commercially viable manufacturing. I’m happy that Bosch has decided to manufacture in India instead of importing from its plants in China. This is what all original equipment manufacturers should do.

Are you happy with the progress in EV adoption?
A lot of progress has been made. The government has done a lot to facilitate greater adoption. There is a differential tax regime. EVs pay only 5%. FAME II has been announced, many states are backing it fully. In this regards, central government has taken multiple fiscal and non-fiscal measure like removal of permit and income tax benefits upto Rs. 1.5 lakhs on purchase of EVs. Nearly 14 states/UTs have come up with EV policies. Due to these steps, we see that India has nearly 1.5 million e-rickshaws running on the roads.

But the industry says there’s no clear EV policy and unless there are more incentives, EV sales will remain low.
The government is not in the business of dictating which technology should be used. Tomorrow a new technology might emerge. We must remain technology agnostic. It’s for the market to figure out what’s the right technology and pricing. The cost of batteries per kilo watt hour used to be $1,100. Today it has come down to $176. Tomorrow it will be $75. The minute that happens, EVs will be cheaper than conventional vehicles. So we can’t freeze policy based on today’s cost. In terms of lifecycle costs, electric two-wheelers and three-wheelers are already cheaper than ICE vehicles. But consumers are yet to factor this in their purchase decisions. 85% of our vehicles are two-wheelers and three-wheelers. Our focus is on these two categories and buses.

Lack of a charging infrastructure network is another hurdle
Two-wheelers and three-wheelers can be charged at home or through new-age charging models like battery swapping. We have recently seen Indian Oil setting up battery swapping stations at their petrol pumps. E-bus would be charged at the depot and these would be set up by the operators. So, essentially the charging landscape in India would be different from the western countries, where cars are the dominant mode of transport. FAME II has allocation of 1,000 crores for charging infrastructure, and 2,636 charging stations for cities have already been allocated. The process of setting up of charging infrastructure on highways has started.

Source: ET

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Electric VehiclesUpdates

EV component market to generate revenue worth USD 157.4 bn by 2025

by Industrial Outlook
written by Industrial Outlook

The global electric vehicle component market generated revenue of USD 22.2 billion in 2018, and it is expected be valued at USD 157.4 billion by 2025, exhibiting a CAGR of 29.4 per cent between 2019 and 2025. Based on component, the battery pack contributed the highest revenue in 2018.

The battery pack is the most important component in an electric vehicle and is responsible for the largest contribution among all the components to the vehicle cost. As a result of this, battery packs are responsible for generating the highest revenue in the electric vehicle component market.

Shift toward lithium–nickel–manganese–cobalt (NMC) oxide batteries from lithium–iron phosphate (LFP) batteries is a major trend in the market. A major trend being witnessed in the electric vehicle component market is the shift of electric vehicle manufacturers from lithium–iron phosphate (LFP) batteries toward lithium–nickel–manganese–cobalt (NMC) oxide batteries. In the past, most of the manufacturers, especially, the Chinese players, used LFP batteries in their electric vehicles. For instance, BYD Co. Ltd., a major electric vehicle manufacturer, still uses LFP batteries in its vehicles. LFP batteries come with higher safety features and a longer life cycle, which made them a favourable option. However, in the recent years, the usage of NMC batteries in electric vehicles has witnessed a drastic climb. The shift toward NMC batteries from LFP batteries is mostly because the former batteries offer a greater energy density, which enables a longer vehicle range. Moreover, these batteries are much lighter than LFP batteries as well as consume lesser space in the vehicle. Thus, with the growing demand for longer-range and lighter electric vehicles, manufacturers are shifting from LFP batteries to NMC batteries.

The growing adoption of electric vehicles across the world is contributing in the growth of the electric vehicle component market. In 2018, the total electric car fleet across the world surpassed 5.1 million, increasing by over 2 million from the previous year, and it is expected that by 2030, the total fleet size will exceed 130 million. Thus, with such massive growth expected for electric vehicle production and sales, the demand for their components is also forecast to increase. The battery pack generated the highest revenue in the electric vehicle component market in 2018 among all components. The battery pack is further comprised of a battery cell, battery management system (BMS), battery thermal management system, and other components, out of which the battery cell alone is responsible for generating around 70 per cent of the revenue for the battery pack.

OEMs were the highest revenue generator in 2018 in the electric vehicle component market. In the forecast period, the demand for components is expected to witness faster growth in the aftermarket, due to the increasing requirement for replacement. APAC is the largest electric vehicle component market. The government of different countries in the region are actively taking initiatives to propel the adoption of electric vehicles, which is further contributing to the growth of the components’ market. Also, in 2017, Government of India outlined a vision that aims to have an electric vehicle fleet by 2030. Further, the National Electric Mobility Mission Plan 2020 was launched in 2013 to promote electric and hybrid vehicles in India.

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