Last year, the ministry of heavy industries sanctioned INR 800 crore as a capital subsidy to three state-run oil marketing companies to establish 7,432 public EV charging stations by March 2024. New Delhi: The finance minister‘s announcement on supporting the development of an ecosystem for electric mobility is expected to help boost manufacturing of electric… Continue reading Budget: Charging infra push to electrify EV adoption
Author: Economic Times of India Online News
Interim Budget: EV push may create 250,000 jobs in five years
EV companies will also enjoy a deeper vendor ecosystem providing battery and other components for building make-in-India EV vehicles. Jobs in the country’s electric vehicle sector may receive a boost in the coming years fueled by the Interim Budget promise to support EV manufacturing and charging infrastructure, said staffing companies and company officials. This will… Continue reading Interim Budget: EV push may create 250,000 jobs in five years
EV sector may have to wait longer for FAME subsidy extension
Combining solarization with EV charging seems to be a way of employment generation rather than bringing any actual benefits to the EV sector. The firms operating in the electric vehicle sector that had hoped for an extension of the FAME subsidy will have to wait probably for the full budget post Lok Saha polls as… Continue reading EV sector may have to wait longer for FAME subsidy extension
Carmakers record best-ever monthly sales in January; Maruti, Hyundai & Tata lead from the front
Passenger vehicle sales had peaked at 391,811 units in October 2023. India’s leading carmakers reported their best-ever monthly sales in the local market growing volumes by more than 13% to 394,571 units in January as dealers filed in inventories depleted during year-end sales. Prior to this, passenger vehicle sales had peaked at 391,811 units in… Continue reading Carmakers record best-ever monthly sales in January; Maruti, Hyundai & Tata lead from the front
Bajaj Auto displays world-class vehicles at Bharat Mobility Expo
The displayed range has been carefully selected to demonstrate there commitment to not just conventional fuel based options but also to newer and cleaner alternative fuels in step with the goals of society. Bajaj Auto is displaying a full spectrum of vehicles that run not only on gasoline but also on a range of cleaner… Continue reading Bajaj Auto displays world-class vehicles at Bharat Mobility Expo
Highlights of the Interim Budget for auto and mobility industry
The Finance Minister also mentioned in her speech that “a new scheme will be launched for strengthening deep-tech technologies for defence purposes and expediting ‘Atmanirbharta’”. New Delhi: Being an Interim Budget this election year, and the last one of the current regime, there weren’t major expectations. However, in any Union Budget certain announcements have a… Continue reading Highlights of the Interim Budget for auto and mobility industry
Interim Budget 2024: FM increases FY25 outlay by 11%, what is in it for auto industry?
Finance Minister Nirmala Sitharaman New Delhi: Aiming to move towards ‘Viksit Bharat’ by 2047, Finance Minister Nirmala Sitharaman presented the Interim Budget 2024 on Thursday. With the Lok Sabha elections scheduled to take place between April and May this year, this was a vote-on-account and the final budget for FY25 will be presented in July.… Continue reading Interim Budget 2024: FM increases FY25 outlay by 11%, what is in it for auto industry?
EV makers may get boost with INR 2,671 crore allocation in interim budget 2024
The government allocated INR 4,807 crore for FAME in the revised estimates for FY24, as against the initial budget estimates of INR 5,172 crore. Electric vehicle makers are likely to with Finance Minister Nirmala Sitharaman allocating an outlay of INR 2,671 crore for the Faster Adoption and Manufacturing of Electric (& Hybrid) Vehicles in India… Continue reading EV makers may get boost with INR 2,671 crore allocation in interim budget 2024
NHAI extends KYC compliance deadline for FASTags till Feb 29
The state-owned agency also said it is encouraging FASTag users to complete the ‘Know Your Customer’ (KYC) process of their latest FASTag by updating KYC as per RBI guidelines. State-owned National Highways Authority of India on Wednesday extended the KYC compliance deadline for FASTags till February 29. On January 15, the National Highways Authority of… Continue reading NHAI extends KYC compliance deadline for FASTags till Feb 29
UAE’s ADNOC Gas signs 10-yr LNG supply agreement with India’s GAIL
Updated On Jan 31, 2024 at 06:13 PM IST Read by: 100 Industry Professionals Read by 100 Industry Professionals Gas consumption in India would rise to over 500 million standard cubic meters a day (mmscmd) by 2030 from the present 155 mmscmd, Indian oil minister Hardeep Singh Puri said earlier in January. ADNOC Gas on… Continue reading UAE’s ADNOC Gas signs 10-yr LNG supply agreement with India’s GAIL