Jupiter Electric Mobility Bolsters EV Portfolio with Key Log9 Acquisition in Railway and Truck Batteries
Jupiter Wagons Limited (JWL) has strengthened its position in India’s electric mobility sector by acquiring the railway and electric truck battery divisions from Log9 Materials. This strategic acquisition, announced by Jupiter Electric Mobility (JEM), JWL’s EV subsidiary, expands its portfolio…
PM E-Drive EV Subsidy Scheme Comes Into Effect In India Amid Global EV Slowdown
The government has notified a new subsidy scheme for adoption of electric vehicles in the world’s third-largest automotive industry, even as the transition to electric mobility lags globally. Called the PM Drive Revolution in Innovative Vehicle Enhancement, or PM E-Drive,…
2-wheeler EV Buyers can Avail Subsidy of Rs 10,000 in 1st yr of PM E-DRIVE
Electric two-wheeler buyers can avail a maximum subsidy of up to Rs 10,000 in the first year of the PM E-DRIVE Scheme to be rolled out soon, Union Heavy Industries Minister HD Kumaraswamy said on Thursday. Addressing a media briefing,…
China’s Evergrande EV Ordered to Repay $262mn Subsidies, Faces Asset Seizure
China has ordered the deeply indebted Evergrande conglomerate’s electric car subsidiary to repay $262 million in subsidies for failing to meet its contractual obligations or risk having its assets seized, the company announced on Tuesday. Evergrande, once China’s leading property…
Certificates Granted To 20+ OEMs For Electric Vehicle Subsidies Under EMPS
The Centre has granted certification to over 20 vehicle Original Equipment Manufacturers (OEMs) to participate in the short-term E-Mobility Promotion Scheme (EMPS). According to sources, these 20 companies, including all major two and three-wheeler manufacturers, can now avail incentives under…
China Says EU’s ‘unfair’ EV Subsidies Probe Risks Damaging Ties
China’s ambassador to the EU, Fu Cong, criticized the EU’s probe into Chinese electric vehicle manufacturers, calling it unfair. Cong emphasized China’s cooperation with the investigation to avoid trade measures. He pointed out that the EU also subsidizes its own…
EV Policy Will be Put up for Cabinet Approval in a Few Days
People waiting to avail of the subsidy on e-vehicles purchased in January will soon get the benefits as the existing policy is expected to be extended for another three months. Officials said the Transport Department will put up a cabinet…
Over Rs 5,200 Crore Disbursed As FAME-II Subsidy On Electric Cars, Two-Wheelers
The Ministry of Heavy Industries (MHI) has revealed that electric two-wheelers, three-wheelers and passenger vehicles have availed of Rs 5,228 crore in subsidies under the FAME-II scheme. The government body in its review of 2023 said that so far 11,53,079…
Indian Industry Body Seeks Third Round of EV Subsidies
FICCI has proposed to India’s ministry of heavy industries that the existing Faster Adoption and Manufacturing of Electric Vehicles-II (Fame-2) scheme be extended to Fame-3, the industry body said. FICCI wants the scheme — which expires on 31 March 2024…
BMW Says EU Subsidy Probe Into China-made EVs Could Do More Harm Than Good
The European Union’s investigation into subsidies for China-made electric vehicles (EV) exported to Europe could do more harm than good, BMW’s chief financial officer said on Friday, warning of a potentially big backlash from Beijing. Walter Mertl said he did…
