Volvo plans to lead EV push in India

Ahead of its German rivals, Volvo plans to bring its electrified vehicle portfolio in India luxury car market to take a lead in EV segment. It has already finished plans to locally assemble plug-in hybrid vehicles and is now considering local assembly of electric vehicles in India. The company is would be launching its first plug-in hybrid vehicle assembled locally in India later this year and plans to build a portfolio of half- a-dozen plug-in hybrids and battery-operated electric vehicles in India by 2021 The move has been aided by the GOI decision last month to reduce customs duty on import of components for electric vehicles from a range of 15-30% to 10-15%. In 2018, Volvo had set up a facility near Bengaluru to assemble its vehicles locally in order to compete aggressively in the highly competitive 40,000-unit luxury car market. This move of Local assembly has already helped Volvo, whose three locally assembled models account for 50% of their sales.

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EVI Technologies plans to set up 20,000 charging stations across India

The Electric vehicle charging infrastructure provider EVI Technologies plans to invest around Rs 100 crore in the next 1.5 years to set up 20,000 charging stations (both home and public) across India. EVI Technologies was incubated at the Electropreneur Park funded by the Ministry of Electronics & Information Technology, has also tied up with BSES Rajdhani Power Ltd to set up around 3,000 EV charging stations in Delhi. EVI Technologies started its operations in Jun-2017 and offers its charging stations on lease for private users. It has presence in 16 different locations in 10 Indian states. It has got orders of 50 charging stations from EESL in Dec-2017 which is being currently installed in complexes of several ministries. While EVI will invest to set up those stations that will be leased out, BSES will provide charging connections with tariff set at Rs 5 per unit for stations in the Capital. #autojobs4u #ElectricVehicles #Technologies #ChargingStations #India #automotiveupd

LCV to benefit greatly from Indian middle class growth

Globally, LCVs account for 75% of commercial vehicles sales but in India, it is only 62%. Indian middle class which is growing at a healthy pace will bolster growth in the commercial vehicles space in India going forward and the biggest beneficiary will be the light commercial vehicles (LCV) segment The increase in urbanisation and consumption will lead to shifts in market segments and LCV will play a crucial role in last mile connectivity. Industry experts feel that there are 3 big challenges the industry needs to overcome to realise this sales potential which are lack of availability of finance due to liquidity crunch at NBFC, the upcoming BS-VI emission norms and a lack of drivers. With the introduction of BSVI, the cost hike will be much higher than the prediction of 5%-7%. The electric and autonomous vehicles are inevitable in future and the keys to growth will be reducing time taken to bring new models to the market, making vehicle platforms more flexible and dynamic, and st

Govt lowers import duty on EV components

Govt lowers the electric vehicle parts and components import duty from 15 to 30% bracket to 10 to 15% in order to promote domestic assembling of electric vehicles. The CBIC (Central Board of Indirect Taxes and Customs) has carved out a separate category for parts and components of electric vehicle for which customs duty has been lowered. The CBIC has removed customs duty exemption to battery packs for electric vehicles in order to boost “Make in India” initiative. Henceforth, import of battery packs for electric vehicles will attract 5 per cent tax. The new rates of duties have come into effect from from 30th Jan 2019. #autojobs4u #automotivejobs #EV

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