The Indian government has announced a new PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-Drive) scheme for the Indian auto industry. This new scheme will replace the the Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicle (FAME II) scheme which supported the faster adoption of electric and hybrid vehicles. The latter expired in March this year and the PM E-Drive scheme will supersede it but with a smaller outlay. &nbsp;

What does PM E-Drive scheme offer? 
The new scheme, under the Ministry of Heavy Industries, has an outlay of INR 10,900 crore for a period of two years, covering electric two-wheelers and three-wheelers. However, electric and hybrid four-wheelers are not a part of the PM E-Drive scheme.&nbsp; 
This scheme will offer subsidies on the purchase of electric two-wheelers, electric three-wheelers, electric trucks and buses as well as electric ambulances. It will also support 88,500 electric vehicle charging sites.

The scheme has been conceived with a provision for procuring 14,028 electric buses by state transport units and other public transport agencies, for which INR 4,391 crore has been set aside. The scheme also proposes the installation of 22,100 fast chargers for electric four-wheelers, 1,800 fast chargers for electric buses and 48,400 fast chargers for electric two- and three-wheelers with an outlay of INR 2,000 crore.

Indian auto industry welcomes the scheme: 
Various auto manufacturers expressed their support towards the PM E-Drive scheme for electric vehicles in a bid to boost sustainable mobility.

Ola CEO Bhavish Aggarwal: The PM E-Drive scheme is a welcome move and a great step to accelerate EV adoption in India. The scheme will provide the required impetus to the EV industry to scale and mature rapidly, ensuring a swift transition from ICE to EVs!

Anish Shah - Group CEO, the Mahindra Group and Managing Director, Mahindra &amp; Mahindra: We applaud the government for launching the PM e-drive scheme. With continued focused support on 2Ws, 3Ws, e-buses and thoughtful addition of e-ambulances, the scheme will drive higher EV penetration in the country. Investments laid out for fast charging infrastructure for all segments will help in increasing consumer confidence for faster adoption of EVs.&nbsp;

 
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The Indian government has announced a new PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-Drive) scheme for the Indian auto industry. This new scheme will replace the the Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicle (FAME II) scheme which supported the faster adoption of electric and hybrid vehicles.

The Indian government has announced a new PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-Drive) scheme for the Indian auto industry. This new scheme will replace the the Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicle (FAME II) scheme which supported the faster adoption of electric and hybrid vehicles. The latter expired in March this year and the PM E-Drive scheme will supersede it but with a smaller outlay. What does PM E-Drive scheme offer? The new scheme, under the Ministry of Heavy Industries, has an outlay of INR 10,900 crore for a period of two years, covering electric two-wheelers and three-wheelers. However, electric and hybrid four-wheelers are not a part of the PM E-Drive scheme. This scheme will offer subsidies on the purchase of electric two-wheelers, electric three-wheelers, electric trucks and buses as well as electric ambulances. It will also support 88,500 electric vehicle charging sites. The scheme has been conceived with a provision for procuring 14,028 electric buses by state transport units and other public transport agencies, for which INR 4,391 crore has been set aside. The scheme also proposes the installation of 22,100 fast chargers for electric four-wheelers, 1,800 fast chargers for electric buses and 48,400 fast chargers for electric two- and three-wheelers with an outlay of INR 2,000 crore. Indian auto industry welcomes the scheme: Various auto manufacturers expressed their support towards the PM E-Drive scheme for electric vehicles in a bid to boost sustainable mobility. Ola CEO Bhavish Aggarwal: The PM E-Drive scheme is a welcome move and a great step to accelerate EV adoption in India. The scheme will provide the required impetus to the EV industry to scale and mature rapidly, ensuring a swift transition from ICE to EVs! Anish Shah - Group CEO, the Mahindra Group and Managing Director, Mahindra & Mahindra: We applaud the government for launching the PM e-drive scheme. With continued focused support on 2Ws, 3Ws, e-buses and thoughtful addition of e-ambulances, the scheme will drive higher EV penetration in the country. Investments laid out for fast charging infrastructure for all segments will help in increasing consumer confidence for faster adoption of EVs.

Explainer: What is PM E-Drive scheme for the Indian auto industry?

The development of electric vehicles (EVs) within the European market is at risk if rising lease prices and diminishing trade-in values continue. Analysis of European leasing firms reveals that in the past three years, they have almost doubled the rental price of EVs due to the declining resale value of the cars. Prominent stakeholders have warned that if financiers are pressured to transition to clean mobility fast, many leasing firms risk exiting the market.

These rising rents are emerging at a time when some of the most important markets in Europe like Germany are cutting back on the subsidies for the new EVs. This is affecting sales and threatening to slow the electrification of Europe’s automobile industry even though Brussels is trying to fast-track electric mobility.

He said, “If the push for electrification is too aggressive, then I would see my shareholders not investing in cars anymore,” said Tim Albertsen, the CEO of Ayvens, Europe’s largest auto leasing company. ‘Who will recall the risk if we are not there?’ Ghana-based Ayvens is 60 percent owned by French bank Société Générale and operates a fleet of 3. 4000 thousand cars out of which 1000 thousand cars are electric cars.

Also Read:&nbsp;<a href="Tesla shifts Cybertruck strategy: halts orders for the cheapest model">Tesla shifts Cybertruck strategy: halts orders for the cheapest model</a>

New car registrations in Europe show that at least 60% of the new cars, regardless of their fuel type of the engine are leased and not purchased, this is as has been revealed by the Transport &amp; Environment. As for electric vehicles, leasing is also rather popular, with data indicating that leasing rates stand at approximately 80%. About 60% of newly sold EVs in Germany, Great Britain, France, and Spain are registered by corporate fleets and other business consumers that are likely to use leasing.

However, leasing companies’ profitability is declining because EVs’ resale values are dropping owing to technological advancement. Range and charging an electric car, affordable offers from Tesla, the bombardment of cheap Chinese clones, and more resulted in the shrinking of second-hand EV prices since October 2022. Data from Autovista reveals that in early July, resale values for EVs in Germany were 24% below pre-pandemic levels, while in Britain, they were 30% lower. In contrast, second-hand petrol cars remain about 15% more expensive.

Gary Cambridge, a partner at Cambridge Motors in London, noted, "People have become more open to used EVs, but they need to be affordable. If they are pricey, demand wanes." The challenges facing the EV leasing market underscore the broader difficulties in achieving a swift transition to electric vehicles in Europe.

The development of electric vehicles (EVs) within the European market is at risk if rising lease prices and diminishing trade-in values continue. Analysis of European leasing firms reveals that in the past three years, they have almost doubled the rental price of EVs due to the declining resale value of the cars.

The development of electric vehicles (EVs) within the European market is at risk if rising lease prices and diminishing trade-in values continue. Analysis of European leasing firms reveals that in the past three years, they have almost doubled the rental price of EVs due to the declining resale value of the cars. Prominent stakeholders have warned that if financiers are pressured to transition to clean mobility fast, many leasing firms risk exiting the market. These rising rents are emerging at a time when some of the most important markets in Europe like Germany are cutting back on the subsidies for the new EVs. This is affecting sales and threatening to slow the electrification of Europe’s automobile industry even though Brussels is trying to fast-track electric mobility. He said, “If the push for electrification is too aggressive, then I would see my shareholders not investing in cars anymore,” said Tim Albertsen, the CEO of Ayvens, Europe’s largest auto leasing company. ‘Who will recall the risk if we are not there?’ Ghana-based Ayvens is 60 percent owned by French bank Société Générale and operates a fleet of 3. 4000 thousand cars out of which 1000 thousand cars are electric cars. Also Read: Tesla shifts Cybertruck strategy: halts orders for the cheapest model New car registrations in Europe show that at least 60% of the new cars, regardless of their fuel type of the engine are leased and not purchased, this is as has been revealed by the Transport & Environment. As for electric vehicles, leasing is also rather popular, with data indicating that leasing rates stand at approximately 80%. About 60% of newly sold EVs in Germany, Great Britain, France, and Spain are registered by corporate fleets and other business consumers that are likely to use leasing. However, leasing companies’ profitability is declining because EVs’ resale values are dropping owing to technological advancement. Range and charging an electric car, affordable offers from Tesla, the bombardment of cheap Chinese clones, and more resulted in the shrinking of second-hand EV prices since October 2022. Data from Autovista reveals that in early July, resale values for EVs in Germany were 24% below pre-pandemic levels, while in Britain, they were 30% lower. In contrast, second-hand petrol cars remain about 15% more expensive. Gary Cambridge, a partner at Cambridge Motors in London, noted, "People have become more open to used EVs, but they need to be affordable. If they are pricey, demand wanes." The challenges facing the EV leasing market underscore the broader difficulties in achieving a swift transition to electric vehicles in Europe.

Europe's EV leasing boom faces risk amid falling resale values

China is on the lookout for fresh opportunities in the export of electric vehicles (EVs) to other parts of the world since there are headwinds in the developed markets such as the US and Europe owing to signs of additional taxes that might erode competitiveness. Australia, however, as we have seen is a different proposition as it still allows Chinese EVs into its market and is therefore a good area for future launches. However, stronger competitors such as MG and BYD are increasing market competitiveness in the Australian EV market which has been influenced by Tesla’s dominance.

MG, a British car brand owned by SAIC, which is affiliated with the CCP, has succeeded with the ZS SUV and EV and is looking to launch the PHEV MG3 and the EV Cyberster some time in 2024. It has also achieved considerable progress with car models such as the Atto 3, Dolphin, and Seal and even surpassed Tesla briefly, albeit incomprehensibly in January of this year. Rivals including XPeng, Geely, Changan, and Leapmotor are also snapping at the heels to jump into the nascent market in Australia for EVs.

Also Read:&nbsp;<a href="https://www.wionews.com/autonews/walmart-canada-leads-with-first-hydrogen-fuel-cell-truck-in-north-america-736692">Walmart Canada leads with first hydrogen fuel cell truck in North America</a>

Currently, China dominates the EV manufacturing industry not only through possession of key battery materials but also through competitive and cheap electric cars that enjoy governmental support that has capped the EVs' prices in the country. This has been attributed to the fact that Chinese made EVs are relatively cheap, a consideration that is very important in markets where price plays a critical role.

Some of the strategies that are currently being practiced by the US regulators include restricting Chinese automakers while the EU is contemplating to introducing hefty tariffs proportional to government subsidies on auto exports to its member nations, while on its part, Australia has not shown any sign of excess concern on competition in the auto sector. A representative from Australian-based Federal Chamber of Automotive Industries (FCAI) focused on new opportunities to expand choices and enhance the standing of consumers.

Australian demand for EVs is on the rise, with 98,000 units sold in 2023, comprising over half of the country's EV fleet. Government initiatives such as the National Electric Vehicle Strategy and investments from the Australian Renewable Energy Agency into charging infrastructure further support this growth. However, Scott Dwyer from the University of Technology Sydney warns of potential market stabilisation and emphasises the importance of scaling charging infrastructure to meet future demands.

China is on the lookout for fresh opportunities in the export of electric vehicles (EVs) to other parts of the world since there are headwinds in the developed markets such as the US and Europe owing to signs of additional taxes that might erode competitiveness.

China is on the lookout for fresh opportunities in the export of electric vehicles (EVs) to other parts of the world since there are headwinds in the developed markets such as the US and Europe owing to signs of additional taxes that might erode competitiveness. Australia, however, as we have seen is a different proposition as it still allows Chinese EVs into its market and is therefore a good area for future launches. However, stronger competitors such as MG and BYD are increasing market competitiveness in the Australian EV market which has been influenced by Tesla’s dominance. MG, a British car brand owned by SAIC, which is affiliated with the CCP, has succeeded with the ZS SUV and EV and is looking to launch the PHEV MG3 and the EV Cyberster some time in 2024. It has also achieved considerable progress with car models such as the Atto 3, Dolphin, and Seal and even surpassed Tesla briefly, albeit incomprehensibly in January of this year. Rivals including XPeng, Geely, Changan, and Leapmotor are also snapping at the heels to jump into the nascent market in Australia for EVs. Also Read: Walmart Canada leads with first hydrogen fuel cell truck in North America Currently, China dominates the EV manufacturing industry not only through possession of key battery materials but also through competitive and cheap electric cars that enjoy governmental support that has capped the EVs' prices in the country. This has been attributed to the fact that Chinese made EVs are relatively cheap, a consideration that is very important in markets where price plays a critical role. Some of the strategies that are currently being practiced by the US regulators include restricting Chinese automakers while the EU is contemplating to introducing hefty tariffs proportional to government subsidies on auto exports to its member nations, while on its part, Australia has not shown any sign of excess concern on competition in the auto sector. A representative from Australian-based Federal Chamber of Automotive Industries (FCAI) focused on new opportunities to expand choices and enhance the standing of consumers. Australian demand for EVs is on the rise, with 98,000 units sold in 2023, comprising over half of the country's EV fleet. Government initiatives such as the National Electric Vehicle Strategy and investments from the Australian Renewable Energy Agency into charging infrastructure further support this growth. However, Scott Dwyer from the University of Technology Sydney warns of potential market stabilisation and emphasises the importance of scaling charging infrastructure to meet future demands.

China turns to Australia to sell its EVs amid rising trade barriers with US, EU

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Electric vehicles (EVs) have taken center stage in the automobile world, captivating headlines and intriguing financial experts who see them as the next industry disruptor.

As the global shift towards electrification gains momentum, governments worldwide are throwing their weight behind EVs, recognizing their pivotal role in achieving zero emissions targets. This support has also ignited massive investments into the promising EV sector.

However, beneath the positive narrative lies lingering complexities. Despite resounding endorsements from governments, environmental advocates, and industry players, doubts cast a shadow of uncertainty over the core identity and trajectory of EVs.

To unravel this narrative, we delve into the global rush of EV investments, the concerns surrounding lithium batteries, and the challenges faced by the automobile industry as it navigates the delicate balance between expanding the EV market and maintaining profit margins.

Global Odyssey of EV Investment

As the automobile industry undergoes a seismic shift, EVs have emerged as the avant-garde, prompting worldwide market players to ramp up capital expenditure for portfolio diversification. A titan in this domain, Tesla, dominates by virtually selling every vehicle it manufactures. Its empire expands across six colossal gigafactories, with a newly confirmed Mexican counterpart driving CEO Elon Musk's audacious vision of manufacturing a staggering 20 million cars annually.

Across continents, China's automotive heavyweight BYD, with the backing of Warren Buffet, transitions from domestic triumph to international conquest. In 2022, it shipped a resounding 56,000 vehicles and announced a $1 billion plan for EV and battery construction in India.

In sync with the electric revolution, India takes the stage with strategic initiatives like FAME India and PLI schemes, bolstering local EV production. Notably, Tata Group's headline-grabbing investment of $4 billion in a UK EV battery plant for Tata Motors and Jaguar, coupled with an additional $2 billion infusion over five years, paints an electrifying future.

Unsettling concern at the heart of EV's Power: the Lithium

EV batteries, powered by lithium (Li) ion chemistry, play a key role in the world of electric vehicles and renewable energy storage. However, these Li batteries pose a recycling challenge, costing more to recycle than to mine fresh lithium. While this isn't an immediate issue, as EV demand surges, recycling urgency will reverberate through industries.

Furthermore, the concern extends beyond recycling -- mining lithium for batteries comes with a hefty environmental price tag. Extracting metals for Li batteries guzzles a whopping 500,000 gallons of water per tonne of lithium. As EVs surge for a cleaner future, the question arises: Can we curb carbon emissions without leaving a massive environmental footprint in our wake?

Cautious approach in the time of EV expansion

In this persistent uncertainty surrounding the EV market, some players remain conservative. Toyota, for instance, has drawn enough scrutiny for its measured approach to EV expansion. They challenge an all-electric future, citing global variations in adoption rates due to costs and infrastructure gaps. A conservative stance also allows companies to concentrate on well-established markets still dominated by internal combustion engines.

However, prudence doesn't come without trade-offs. Forward-thinking players enjoy cost advantages and economies of scale as EV demand skyrockets. Waiting may hedge risks, but it might also mean forfeiting opportunities to diversify and cater to evolving consumer preferences. Lalit Singh, CEO of TelioEV, advocates for a harmonious blend of caution and foresight, a pivotal formula for triumph in the ever-shifting automotive terrain.

Expensive EV at the cost of sustainable future

Going deeper into this subject, the main hurdle faced by electric vehicles (EVs) is their high price. Although governments of various countries offer incentives to support sustainable goals, these incentives are often limited to a certain number of vehicles, so when these perks are removed, the once attractive EVs become unaffordable.

Recently, Tesla disclosed its investment plan for India, with an estimated starting price of 2 million rupees ($24,400.66). This is more than twice the cost of India's cheapest EV, the MG Comet, and half a million rupees more than the Tata Nexon EV, the country's top-selling EV. While EV prices are relatively lower compared to global offerings, Tesla's pricing approach has raised concerns.

EV makers adopting price cut strategy to increase sales

The hurdle of pricing has instilled hesitation among consumers considering EV adoption, compelling manufacturers to turn to price cuts. While this strategy aims to boost sales figures, it simultaneously exerts strain on company profits, causing concern among investors who view this development with cautious eyes as whether this approach efficiently accelerates sales is a challenging riddle to solve.

Major players like General Motors, Ford, Hyundai, and Toyota find themselves with over 90 days' worth of unsold EV inventory at current sales rates, casting a shadow of doubt over the effectiveness of price reduction alone.

"To drive EV adoption, cutting prices isn't enough. Companies must invest in tech, achieve economies of scale, and collaborate with governments for incentives. Highlight cost savings, improve charging infrastructure, and educate consumers on benefits. A balanced approach for affordable and sustainable," &nbsp;according to Singh.

Striking a Balance for EV triumph

The future of EVs is clearly cloudy amid the current technology shift. To boost efficiency and consumer confidence, EV manufacturers have to address charging infrastructure shortages and supply chain issues.

Moreover, Singh suggests that consumer education, supportive policies, and collaborations can accelerate EV adoption. Emphasising recycling, integrating autonomous driving, and ensuring reliability will enhance the sector's success amid the evolving landscape. Continuous monitoring of industry trends is crucial for informed decision-making.

&nbsp;

WATCH WION LIVE HERE

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Electric vehicles (EVs) have taken center stage in the automobile world, captivating headlines and intriguing financial experts who see them as the next industry disruptor.

Electric vehicles (EVs) have taken center stage in the automobile world, captivating headlines and intriguing financial experts who see them as the next industry disruptor. As the global shift towards electrification gains momentum, governments worldwide are throwing their weight behind EVs, recognizing their pivotal role in achieving zero emissions targets. This support has also ignited massive investments into the promising EV sector. However, beneath the positive narrative lies lingering complexities. Despite resounding endorsements from governments, environmental advocates, and industry players, doubts cast a shadow of uncertainty over the core identity and trajectory of EVs. To unravel this narrative, we delve into the global rush of EV investments, the concerns surrounding lithium batteries, and the challenges faced by the automobile industry as it navigates the delicate balance between expanding the EV market and maintaining profit margins. Global Odyssey of EV Investment As the automobile industry undergoes a seismic shift, EVs have emerged as the avant-garde, prompting worldwide market players to ramp up capital expenditure for portfolio diversification. A titan in this domain, Tesla, dominates by virtually selling every vehicle it manufactures. Its empire expands across six colossal gigafactories, with a newly confirmed Mexican counterpart driving CEO Elon Musk's audacious vision of manufacturing a staggering 20 million cars annually. Across continents, China's automotive heavyweight BYD, with the backing of Warren Buffet, transitions from domestic triumph to international conquest. In 2022, it shipped a resounding 56,000 vehicles and announced a $1 billion plan for EV and battery construction in India. In sync with the electric revolution, India takes the stage with strategic initiatives like FAME India and PLI schemes, bolstering local EV production. Notably, Tata Group's headline-grabbing investment of $4 billion in a UK EV battery plant for Tata Motors and Jaguar, coupled with an additional $2 billion infusion over five years, paints an electrifying future. Unsettling concern at the heart of EV's Power: the Lithium EV batteries, powered by lithium (Li) ion chemistry, play a key role in the world of electric vehicles and renewable energy storage. However, these Li batteries pose a recycling challenge, costing more to recycle than to mine fresh lithium. While this isn't an immediate issue, as EV demand surges, recycling urgency will reverberate through industries. Furthermore, the concern extends beyond recycling -- mining lithium for batteries comes with a hefty environmental price tag. Extracting metals for Li batteries guzzles a whopping 500,000 gallons of water per tonne of lithium. As EVs surge for a cleaner future, the question arises: Can we curb carbon emissions without leaving a massive environmental footprint in our wake? Cautious approach in the time of EV expansion In this persistent uncertainty surrounding the EV market, some players remain conservative. Toyota, for instance, has drawn enough scrutiny for its measured approach to EV expansion. They challenge an all-electric future, citing global variations in adoption rates due to costs and infrastructure gaps. A conservative stance also allows companies to concentrate on well-established markets still dominated by internal combustion engines. However, prudence doesn't come without trade-offs. Forward-thinking players enjoy cost advantages and economies of scale as EV demand skyrockets. Waiting may hedge risks, but it might also mean forfeiting opportunities to diversify and cater to evolving consumer preferences. Lalit Singh, CEO of TelioEV, advocates for a harmonious blend of caution and foresight, a pivotal formula for triumph in the ever-shifting automotive terrain. Expensive EV at the cost of sustainable future Going deeper into this subject, the main hurdle faced by electric vehicles (EVs) is their high price. Although governments of various countries offer incentives to support sustainable goals, these incentives are often limited to a certain number of vehicles, so when these perks are removed, the once attractive EVs become unaffordable. Recently, Tesla disclosed its investment plan for India, with an estimated starting price of 2 million rupees ($24,400.66). This is more than twice the cost of India's cheapest EV, the MG Comet, and half a million rupees more than the Tata Nexon EV, the country's top-selling EV. While EV prices are relatively lower compared to global offerings, Tesla's pricing approach has raised concerns. EV makers adopting price cut strategy to increase sales The hurdle of pricing has instilled hesitation among consumers considering EV adoption, compelling manufacturers to turn to price cuts. While this strategy aims to boost sales figures, it simultaneously exerts strain on company profits, causing concern among investors who view this development with cautious eyes as whether this approach efficiently accelerates sales is a challenging riddle to solve. Major players like General Motors, Ford, Hyundai, and Toyota find themselves with over 90 days' worth of unsold EV inventory at current sales rates, casting a shadow of doubt over the effectiveness of price reduction alone. "To drive EV adoption, cutting prices isn't enough. Companies must invest in tech, achieve economies of scale, and collaborate with governments for incentives. Highlight cost savings, improve charging infrastructure, and educate consumers on benefits. A balanced approach for affordable and sustainable," according to Singh. Striking a Balance for EV triumph The future of EVs is clearly cloudy amid the current technology shift. To boost efficiency and consumer confidence, EV manufacturers have to address charging infrastructure shortages and supply chain issues. Moreover, Singh suggests that consumer education, supportive policies, and collaborations can accelerate EV adoption. Emphasising recycling, integrating autonomous driving, and ensuring reliability will enhance the sector's success amid the evolving landscape. Continuous monitoring of industry trends is crucial for informed decision-making. WATCH WION LIVE HERE

Unveiling the electric vehicle revolution: Decoding the future beyond the hype

In order to reduce carbon emissions and lessen its reliance on fossil fuels, the Indian Army plans to induct electric vehicles (EV) wherever possible. The force has set a target for introducing light vehicles, buses, and motorcycles across various locations.&nbsp;

The Army's EV drive will result in the replacement of about 25% of light vehicles, 38% of buses, and 48% of motorbikes with suitable charging infrastructure in some peacetime units and formations. This is being done in accordance with what the Army needs and how well EVs work in various environments.

According to the officials, the EV drive has already begun in New Delhi and will soon be expanded to Lucknow, Pune, and Kolkata.

Also read |&nbsp;<a href="https://www.wionews.com/india-news/india-kerala-human-sacrifice-probe-gets-gory-cannibalism-angle-being-probed-524877">India: Kerala 'human sacrifice' probe gets gory, cannibalism angle being probed</a>

To help the EV drive, the Army is putting infrastructure in place. It has erected transformers with sufficient load bearing capacity based on the projected number of EVs per station, and it has installed charging stations in the parking lots of businesses and apartment buildings. Additionally, solar-powered charging facilities are currently being developed.

As per reports,&nbsp;the current shortage of buses would be filled by purchasing electric buses for initial usage by a few selected peace establishments and that a tender for the purchase of 60 buses and 24 fast chargers is anticipated to be floated soon. More <a href="https://www.wionews.com/india-news/mercedes-benz-launches-first-made-in-india-eqs-580-electric-car-521927">EVs</a> will gradually be included into the Army.

(With inputs from agencies)

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In order to reduce carbon emissions and lessen its reliance on fossil fuels, the Indian Army plans to induct electric vehicles (EV) wherever possible. The force has set a target for introducing light vehicles, buses, and motorcycles across various locations.

In order to reduce carbon emissions and lessen its reliance on fossil fuels, the Indian Army plans to induct electric vehicles (EV) wherever possible. The force has set a target for introducing light vehicles, buses, and motorcycles across various locations. The Army's EV drive will result in the replacement of about 25% of light vehicles, 38% of buses, and 48% of motorbikes with suitable charging infrastructure in some peacetime units and formations. This is being done in accordance with what the Army needs and how well EVs work in various environments. According to the officials, the EV drive has already begun in New Delhi and will soon be expanded to Lucknow, Pune, and Kolkata. Also read | India: Kerala 'human sacrifice' probe gets gory, cannibalism angle being probed To help the EV drive, the Army is putting infrastructure in place. It has erected transformers with sufficient load bearing capacity based on the projected number of EVs per station, and it has installed charging stations in the parking lots of businesses and apartment buildings. Additionally, solar-powered charging facilities are currently being developed. As per reports, the current shortage of buses would be filled by purchasing electric buses for initial usage by a few selected peace establishments and that a tender for the purchase of 60 buses and 24 fast chargers is anticipated to be floated soon. More EVs will gradually be included into the Army. (With inputs from agencies) WATCH WION LIVE HERE:

Indian Army all set to go green, procure electric vehicles for select units, install charging facilities

US&nbsp;startup Lucid Group Inc said on Tuesday it will start delivering luxury electric sedans with a Tesla-beating driving range in late October, posing a major challenge to the market leader whose sales of premium models have stagnated.

The California-based Lucid began production of its long-delayed Lucid Air cars at its Arizona factory on Tuesday, and said it aims to ramp plant's capacity up to 90,000 vehicles per annum in the next two years.

The top-end Lucid Air Dream Edition will be available in late October, followed by less expensive models: Grand Touring, Touring and Air Pure. The company said it has received more than 13,000 reservations for Lucid Air models, and it has increased the planned total production of the Lucid Air Dream Edition to 520 vehicles.

A version of the Lucid Air Dream Edition, priced at $169,000, received an official U.S. government rating of a 520-mile (837 km) driving range, over 100 miles more than its closest rival, Tesla's Model S, which is priced at $89,990. The higher range helped lead to a 23% jump in Lucid's shares this month.

Speaking at the production site, Lucid Chief Executive Officer Peter Rawlinson, a former chief engineer on the Tesla Model S, said his company's cars have an advantage in battery technology and costs over the Model S.

"We've ridden customers of the fear of range anxiety," he said. "The next big obstacle is cost effectiveness of electric cars. We've got to get the cost down."

He said the Air Pure, the least expensive version with a price tag of $77,400, will go into production late next year.

EXECUTION CHALLENGE

The company, founded in 2007, received funding from Saudi Arabia's Public Investment Fund in 2018 before going public via a shell company https://www.reuters.com/article/us-lucidmotors-m-a-churchill-cap-iv-excl/exclusive-lucid-motors-nears-spac-deal-as-klein-launches-financing-sources-idUSKBN2AG2D6 in July.

"(20)17 and (20)18 were brutal. The company was in a parlous state. And then I've got to say, we met a perfect partner," he said.

Rawlinson, who left Tesla in 2012, faces tasks similar to those of Tesla in its early days, including how to address manufacturing challenges and scale up production.

"I think the big challenge for Lucid will be execution," said Sam Abuelsamid, a principal analyst at Guidehouse Insights. "I think that they have a very good car. It's very attractive."

Tesla CEO Elon Musk said in June that Tesla has canceled its plan to launch a Model S Plaid+, with a target driving range of 520 miles, saying the Model S Plaid itself is "just so good"&nbsp;

Musk reiterated this month that "production is hard".

"Production with positive cash flow is extremely hard," he said, citing carmakers' razor-thin margins.

Tesla's combined sales of Model S and Model X luxury models stood at only 1,890 in the second quarter of this year, down from 22,300 during the same period three years ago. Tesla does not break out figures for the two high-end models.

"The Model S doesn't look fundamentally different from a Model S nine years ago," Abuelsamid said. "In the premium market, customers are looking for the latest and greatest."

Musk in October 2020 cut the price of its Model S, shortly after Lucid announced the pricing of its base model. "The gauntlet has been thrown down! The prophecy will be fulfilled," he tweeted at that time.

Electric vehicle maker Rivian, backed by Amazon.com Inc and now preparing for a public stock listing, earlier this month started production of electric pickup trucks. That move came ahead of similar expected moves by Tesla, General Motors Co and Ford Motor Co. 
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US startup Lucid Group Inc said on Tuesday it will start delivering luxury electric sedans with a Tesla-beating driving range in late October, posing a major challenge to the market leader whose sales of premium models have stagnated.

US startup Lucid Group Inc said on Tuesday it will start delivering luxury electric sedans with a Tesla-beating driving range in late October, posing a major challenge to the market leader whose sales of premium models have stagnated. The California-based Lucid began production of its long-delayed Lucid Air cars at its Arizona factory on Tuesday, and said it aims to ramp plant's capacity up to 90,000 vehicles per annum in the next two years. The top-end Lucid Air Dream Edition will be available in late October, followed by less expensive models: Grand Touring, Touring and Air Pure. The company said it has received more than 13,000 reservations for Lucid Air models, and it has increased the planned total production of the Lucid Air Dream Edition to 520 vehicles. A version of the Lucid Air Dream Edition, priced at $169,000, received an official U.S. government rating of a 520-mile (837 km) driving range, over 100 miles more than its closest rival, Tesla's Model S, which is priced at $89,990. The higher range helped lead to a 23% jump in Lucid's shares this month. Speaking at the production site, Lucid Chief Executive Officer Peter Rawlinson, a former chief engineer on the Tesla Model S, said his company's cars have an advantage in battery technology and costs over the Model S. "We've ridden customers of the fear of range anxiety," he said. "The next big obstacle is cost effectiveness of electric cars. We've got to get the cost down." He said the Air Pure, the least expensive version with a price tag of $77,400, will go into production late next year. EXECUTION CHALLENGE The company, founded in 2007, received funding from Saudi Arabia's Public Investment Fund in 2018 before going public via a shell company https://www.reuters.com/article/us-lucidmotors-m-a-churchill-cap-iv-excl/exclusive-lucid-motors-nears-spac-deal-as-klein-launches-financing-sources-idUSKBN2AG2D6 in July. "(20)17 and (20)18 were brutal. The company was in a parlous state. And then I've got to say, we met a perfect partner," he said. Rawlinson, who left Tesla in 2012, faces tasks similar to those of Tesla in its early days, including how to address manufacturing challenges and scale up production. "I think the big challenge for Lucid will be execution," said Sam Abuelsamid, a principal analyst at Guidehouse Insights. "I think that they have a very good car. It's very attractive." Tesla CEO Elon Musk said in June that Tesla has canceled its plan to launch a Model S Plaid+, with a target driving range of 520 miles, saying the Model S Plaid itself is "just so good" Musk reiterated this month that "production is hard". "Production with positive cash flow is extremely hard," he said, citing carmakers' razor-thin margins. Tesla's combined sales of Model S and Model X luxury models stood at only 1,890 in the second quarter of this year, down from 22,300 during the same period three years ago. Tesla does not break out figures for the two high-end models. "The Model S doesn't look fundamentally different from a Model S nine years ago," Abuelsamid said. "In the premium market, customers are looking for the latest and greatest." Musk in October 2020 cut the price of its Model S, shortly after Lucid announced the pricing of its base model. "The gauntlet has been thrown down! The prophecy will be fulfilled," he tweeted at that time. Electric vehicle maker Rivian, backed by Amazon.com Inc and now preparing for a public stock listing, earlier this month started production of electric pickup trucks. That move came ahead of similar expected moves by Tesla, General Motors Co and Ford Motor Co.

Lucid to start deliveries of electric cars with range exceeding Tesla's in October

The demand for millions of barrels of oil every day may soon be wiped out by electric cars. According to recent figures, the number of electric vehicles on the world’s roads is set to increase from 11 million vehicles to 145 million by the end of the decade.

According to an International Energy Agency (IEA) report, as a method to achieve global climate targets; if governments around the world, agree to encourage the production of low-carbon vehicles, there could be 230 million electric vehicles worldwide by 2030.

Sales in the first quarter of the year 2021 were more than 2.5 times or 250 per cent higher than in the same months last year, found IEA’s first global report on electric vehicles.

In 2020, a record three million new electric cars were registered around the world, bringing the total number of electric cars to 10 million, despite the economic slowdown, which has caused the global car industry to shrink by 16 per cent. In addition, the number of other electric vehicles like electric vans, heavy trucks and buses stand at approximately one million.

This increase in the number of electric cars is expected to have significant implications on oil companies,&nbsp;as the profits&nbsp;they make from producing crude depend on the demand for transport fuels.

By 2030, Electric vehicles could potentially remove the requirement of approximately two million barrels a day of diesel and petrol, and save the equivalent of 120m tonnes of carbon dioxide.

If governments were to increase their ambition for electric road transport by aligning them with global climate targets, doubling the carbon savings these vehicles could displace about 3.5m barrels of oil a day.

According to IEA reports, with $120 billion consumer spending on electric vehicles last year, a 50 per cent&nbsp;increase in spending was witnessed as compared to 2019. This boom has multi-billion-dollar implications for the global automotive industry. &nbsp;Last year also witnessed carmakers offering 370 electric models to the market, an increase of 40 per cent from 2019 numbers.

IEA’s executive director, Fatih Birol said, "Current sales trends&nbsp;are very encouraging&nbsp;but our shared climate and energy goals call for even faster market uptake," said.

The IEA report calls for "stronger ambition and action from all countries", calling the production of sufficient electric vehicles to put the world on the course to meet its climate targets, a "formidable challenge".

The demand for millions of barrels of oil every day may soon be wiped out by electric cars. According to recent figures, the number of electric vehicles on the world’s roads is set to increase from 11 million vehicles to 145 million by the end of the decade.

The demand for millions of barrels of oil every day may soon be wiped out by electric cars. According to recent figures, the number of electric vehicles on the world’s roads is set to increase from 11 million vehicles to 145 million by the end of the decade. According to an International Energy Agency (IEA) report, as a method to achieve global climate targets; if governments around the world, agree to encourage the production of low-carbon vehicles, there could be 230 million electric vehicles worldwide by 2030. Sales in the first quarter of the year 2021 were more than 2.5 times or 250 per cent higher than in the same months last year, found IEA’s first global report on electric vehicles. In 2020, a record three million new electric cars were registered around the world, bringing the total number of electric cars to 10 million, despite the economic slowdown, which has caused the global car industry to shrink by 16 per cent. In addition, the number of other electric vehicles like electric vans, heavy trucks and buses stand at approximately one million. This increase in the number of electric cars is expected to have significant implications on oil companies, as the profits they make from producing crude depend on the demand for transport fuels. By 2030, Electric vehicles could potentially remove the requirement of approximately two million barrels a day of diesel and petrol, and save the equivalent of 120m tonnes of carbon dioxide. If governments were to increase their ambition for electric road transport by aligning them with global climate targets, doubling the carbon savings these vehicles could displace about 3.5m barrels of oil a day. According to IEA reports, with $120 billion consumer spending on electric vehicles last year, a 50 per cent increase in spending was witnessed as compared to 2019. This boom has multi-billion-dollar implications for the global automotive industry. Last year also witnessed carmakers offering 370 electric models to the market, an increase of 40 per cent from 2019 numbers. IEA’s executive director, Fatih Birol said, "Current sales trends are very encouraging but our shared climate and energy goals call for even faster market uptake," said. The IEA report calls for "stronger ambition and action from all countries", calling the production of sufficient electric vehicles to put the world on the course to meet its climate targets, a "formidable challenge".

Increased demand for electric vehicles can affect oil market: Study

Volkswagen and Fiat Chrysler could face penalties of up to 1.83 billion euros and 746 million euros respectively, if they fail to meet the European Union's emissions targets set for 2021, according to a study.

Volkswagen, Fiat Chrysler could face 2021 EU emissions fines: Study