India to see sales of 30.81 mn electric vehicles by 2040: Amitabh Kant
The Dollar Business Bureau NITI Aayog Chief Executive Officer (CEO) Amitabh Kant said on Thursday that the strong push by the Government towards e-mobility is targeted towards making India an export hub for electric vehicles. “The vehicle penetration in the country is the lowest among the developing countries. At present, India has 20 cars per 1,000 people whereas the US has 800 cars,” Kant said while addressing the 57th Annual Convention of SIAM in New Delhi. “Other countries will have the problem to make the switch to electric but India has the advantage to become the leader because of its low penetration levels. We must make India the export hub for electric vehicles,” he said. He also said that the country may be slow ...
Tata-owned Jaguar Land Rover to hire 5000 people in Britain
The Dollar Business Bureau Britain’s largest car manufacturer Jaguar Land Rover (JLR) will employ 5,000 people in order to boost the company’s skills in electric and autonomous technology, a welcome corporate endorsement as UK’s Prime Minister Theresa May begins Brexit negotiations after the election. JLR said that it would be hiring 1,000 electronic and software engineers and an additional staff of 4,000 in the manufacturing division. Most of the employees will be based in the UK. The company employs over 40,000 people worldwide. The recruitment will be done over the next one year, just as Britain begins talks to exit European Union (EU). Car manufacturers in UK have asked the May government to ensure that the talks result in a pact that holds free and unfettered trade in order to ...
Tesla seeks relief on import duties until factory is built in India
The Dollar Business Bureau American electric car maker Tesla Inc is in talks with the Government of India for seeking relief in import duties till the company builds a local factory in the country, according to Chief Executive Elon Musk. Musk had stated earlier, this year, hoping that Tesla’s products would enter Indian market this summer, which so far has not materialised. “In discussion with the government of India requesting temporary relief from import penalties/restrictions until a local factory is built,” Musk said in a tweet. Currently, there is 60% customs duty in India on the imports of fully-built electric cars, which are priced below $40,000. If the car is assembled in the country, the customs duty is just 10% on completely knocked down ...
Indias electric cars plans to boost SoftBank solar goals
The Dollar Business Bureau Japanese telecom giant SoftBank Group is in discussions with the Government of India for facilitating the use of solar energy for charging electric vehicles in India, a senior executive at the company’s local unit told a leading news agency. The Indian government is planning to electrify all the vehicles in the coming 15 years, a step that can boost solar ambitions of SoftBank in India if the country adopts renewable energy for charging vehicles. SoftBank has said that it will invest around $20 billion along with Bharti Enterprises and Foxconn Technology in solar projects in the country. The company estimates the electrification process could generate a requirement of more than 150 gigawatt of extra energy. ...
Auto sector to contribute 12% to India's GDP in next decade: Geete
The Dollar Business Bureau Heavy Industries and Public Enterprises Minister Anant Geete said on Thursday that the country’s automobile industry is expected to contribute 12% to the GDP (gross domestic product) over the next decade, from the current 7.1%. “Indian automotive sector plays a very important role in the country's manufacturing sector and is likely to contribute 12% to the country's GDP over the next decade,” Geete said. He said this while inaugurating a test track facility set up in Chennai by Global Automotive Research Centre (GARC) - a unit working under the National Automotive Testing & R&D Infra Project (NATRiP). The Minister said that commissioning of this facility is likely to attract greater investments in the automotive industry and its components and also expressed confidence that such ...
Electric vehicles to save $60 bn in fuel costs by 2030: Niti
The Dollar Business Bureau Niti Aayog CEO Amitabh Kant is taking no chance in promoting the adoption of electric vehicles (EVs). With oil prices perennially increasing, awareness about ecology and atmosphere being discussed and steps being taken to implement clean energy drive, he says India faces the challenge of not wasting anymore time in adopting measures that would reduce the dependence on diesel and petrol. In its annual report, India Leaps Ahead: Transformative Mobility Solution, NITI Aayog and Rock Mountain Institute specify that, “Accelerated adoption of electric and shared vehicles could save $60 billion in diesel and petrol costs while cutting down as much as 1 gigatonne (GT) of carbon emissions for India by 2030.” It estimates that the country could save ...
India to roll-out e-vehicle policy in FY2017-18
The Dollar Business Bureau By 2030, India plans to make a 100% shift to electric vehicles, and occupy the position of a global leader in the new-age e-vehicle industry. To realise this ambition, the government is working towards a comprehensive plan which will usher the start of a green era much earlier. In this context, power and coal Minister Piyush Goyal said that a robust policy for the promotion of e-vehicles is in the pipeline. “Niti Aayog has drawn up certain ideas but the project is being looked after by the Ministry of Heavy Industries. I am sure that will have all discussions and come up with a robust policy because we want to encourage domestic manufacturing of electric vehicles,” the Minister said, adding that a policy is likely ...
Delhi govt reduces VAT on hybrid cars, sweets, footwear
PTI Delhi government has reduced Value Added Tax (VAT) on hybrid cars, battery-operated vehicles and e-rickshaws from 12.5 per cent to 5 per cent, projecting it as a step towards reducing air pollution in the city. The reduction was one of the measures announced in the 2016-17 budget. The revised VAT rates which will reduce the cost of a host of items including marble, sweets, 'namkeens', school bags, footwear and ready-made garments have come into effect following a notification issued on May 10. The government termed it as a step towards making VAT rates in Delhi the lowest in the country. "This step apart from promoting eco-friendly vehicles to reduce pollution in the city will also bring relief to large number of entrepreneurs earning their ...
