Monthly EV update- December 2019

Monthly EV update- December 2019

New Product Launches

Tenders

* EMD: Earnest Money Deposit  

Source JMK Research

Charging stations planned

Policies

Andhra Pradesh Govt Allows EV Charging Stations Without License

• The Andhra Pradesh government has announced that it would delicense electric vehicle charging stations across the state to give a boost to the electric mobility infrastructure in the state.
• Any individual or entity in the state can install charging stations for electric vehicles without applying for a license to operate as is seen for petrol pumps and CNG stations.

10 changes IRDAI has proposed in 2019 to make motor insurance a simpler product

• The insurance regulator has been busy at work in 2019 laying the groundwork to make motor insurance a simpler product. A separate third-party insurance category for electric vehicles (EVs) was issued. Further, to increase the sale of EVs, the third-party motor insurance premium for electric vehicles are issued at a discount of 15 percent.

Delhi EV policy, 2019

• The policy aims for 25% of vehicles to be EVs by 2024. The policy will be valid for three years from the date of notification.
• Within a year, Delhi government is targeting the induction of 35,000 electric vehicles (2/3/4 Wheelers and buses), 1000 EVs for last-mile deliveries and 250 public charging/swapping stations to come up in Delhi.
• In the next 5 years, the Delhi government is targeting to put 5 lakh new EVs register in Delhi due to this policy.

• All new home and workplace parking spaces will have to be ‘EV-ready’ with 20% of the parking being EV-enabled
• The Delhi government will give 100% subsidy for the purchase of charging equipment up to INR 6,000 per charging point for the first 30,000 charging points at homes and workplaces.
• Road tax and registration fees to be waived for all Battery Electric Vehicles during the period of this policy

Promotion of setting up of Renewable Energy based Electric Vehicle Charging Stations under Rajasthan Solar policy, 2019

• Government land will be allotted at 50% concessional rate for first 500 renewable energy based EV charging stations installed within 5 years from the date of commencement of this Policy.
• The charging station service providers may set up renewable energy generation plants within their premises for captive use, and may also draw renewable power through open access from generation plants located within the State. Such plants will have 100% exemption of transmission and wheeling charges for a period of 10 years from date of establishing of EV charging station.
• The aforesaid benefits would also be available to the chain of EV charging stations owned by a single service provider.

Partnerships and JV’s

Taiwanese EV firm forms JV with Renon India to produce battery packs

Taiwanese electric vehicle (EV) maker Ahamani EV Tech has formed a joint venture with Gujarat based battery maker Renon India on Tuesday to produce battery packs for Indian Automobile market. The new joint venture aims to provide reliable & cutting-edge technology battery packs with higher lifecycle to automakers domestically as the EV market expands to meet evolving consumer needs and to address issues related to energy and climate change, the company said in a release.

EESL inks pact with Baghirathi Sustainability to promote electric vehicles

With this partnership, EESL seeks to deploy around 250 EVs and fast-track the adoption of e-mobility within private and government agencies across India, starting with Telangana, Karnataka and Andhra Pradesh.

Tata Motors Partners with Delhi-based EV Taxi App to Deploy 500 Tigor EVs

Tata Motors Limited has partnered with Prakriti E-Mobility Limited, an electric vehicle (EV) based taxi service, to deploy 500 of its Tigor EVs in New Delhi. The cars will be deployed on Prakriti E-Mobility’s application-based platform EVERA. The first batch, consisting of 160 Tigor EVs, is expected to be operational by January 2020, according to Tata Motors’ press release.

Investments and expansion plans

Ampere Vehicles expands its Pan-India EV network with 23 new dealerships

Ampere Vehicles, a wholly owned electric mobility subsidiary of Greaves Cotton, announces the expansion of its Electric Vehicle distribution network with 23 new dealerships across the country since September 2019, taking the brand’s presence across India.

Dao EVTech To Invest $ 100 Million In India; To Start Operations With 25 Dealerships

Dao EVTech will be starting operations in Andhra Pradesh and Telangana with just 25 dealerships in the initial phase. However, it has been studying the demographics of the other markets as well and is planning to open about 300 dealerships in a year, further expanding to markets like Delhi-NCR and subsequently nationwide.

Global updates

GM, Korea’s LG Chem to build electric-vehicle battery factory in Ohio

General Motors and Korea’s LG Chem have formed a joint venture to build an electric vehicle battery cell factory near Lordstown, Ohio, east of Cleveland.The companies also will work together on battery technology to bring down the cost for future GM electric vehicles.

AUDI plans spend €37 billion on e-mobility by 2024

AUDI AG has planned a total amount of approximately €37 billion for research and development expenditure and investment in property, plant and equipment over the next five years. Against the backdrop of its roadmap towards electrification, the manufacturer is planning upfront expenditure of €12 billion solely for electric mobility – more than ever before. The successful Audi Transformation Plan (ATP) is freeing up the necessary funds: Since the start of the program, the ATP has already contributed €4 billion to earnings.

China’s electric car sales slump, squeezing automakers

China accounts for half of electric vehicle sales worldwide, making any change in its market critical for the global industry. An industry shakeout lies ahead as novice Chinese producers that rushed into the market are forced to merge or close. Development costs are so high that global competitors including Volkswagen and Ford are teaming up to split the burden. In China, about 70% of the 1.2 million electric or gasoline-electric hybrid models sold over the past year went to government and company fleets. Almost 500,000 bought by consumers were in cities that offer incentives such as being exempt from registration fees or license plate waiting lists. Few real consumers buy EVs except when forced by regulations.

BMW reaches sales milestone of 500,000 electric cars

BMW has delivered half a million electrified cars to customers worldwide, the company said in a statement Thursday.”Half a million vehicles is the best proof: Our broad range of electrified vehicles is meeting exact customer needs. Now, we are stepping up the pace significantly: We aim to have one million electrified vehicles on the roads within two years. This is our contribution towards effective climate protection,” Oliver Zipse, Chairman of the Board of Management of BMW AG said Thursday.

Australia has doubled the number of electric vehicle fast chargers since 2018

Australia may be a laggard in electric vehicle uptake, but at least the number of public fast chargers has more than doubled since 2018. Installed by a handful of network providers including Chargefox, motorist’s association NRMA, the Queensland government and most recently, Evie Networks, the total number of public DC fast chargers now exceeds 100 locations.