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EV Ecosystem Updates – LML Electrified, Green Car Loan Scheme of SBI and more
Nimit Arora
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Published on 25th May 22
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1. LML Electric makes a big announcement.

Kanpur-based ‘Lohia Motors Ltd’ (LML), that used to manufacture the iconic Vespa Scooter in collaboration with Italy's Piaggio, will invest Rs.350 crore in its EV business. The plans involve setting up a new manufacturing plant as well. The company announced its ambition to re-enter the market with electric vehicles in September 2021. LML Electric is also looking to enter the charging infrastructure segment.

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In April 2022, LML announced three EV products: a hyperbike, an e-bike & an electric scooter. The launch is expected between February-August 2023. All the three products will cater to both domestic and international markets.

2. EESL planning to lease out its EV charging operations.

Energy Efficiency Services Ltd (EESL) is set to lease out operations of its electric vehicle charging infrastructure across the country. The company, which has set up more than 400 charging points, has floated a tender for operations of charging points. The company plans to completely exit the operations of its charging infrastructure. Henceforth, the company will set up the charging points and lease out their operations.

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EESL is also looking for collaborations with public sector undertakings to set up more EV charging stations.

3. Sunfuel Electric to install 70 DC fast chargers across the country.

Sunfuel Electric has announced plans to install 70 DC fast chargers (120kW) on Indian highways. The first supercharger will be installed on the Kalka-Shimla highway by June 2022. Even though these fast chargers are more suitable for powerful electric cars like the BMW iX, Audi eTron, etc, regular EVs will also be able to use these chargers.

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Sunfuel Electric is an EV charging startup which has mainly focused on ‘Destination Charging’ after securing deals with hospitality majors like IHG, Radisson, Club Mahindra, etc. The company recently launched ‘ExpressMiles’, its Highway Charging Service. The company hopes these 120kW superchargers on Indian highways will reshape the perception of EV charging infrastructure, especially for consumers who want to opt for high-end electric cars.

4. SBI promotes ‘Green Car Loan Scheme’ for Electric Vehicles.

To encourage citizens to shift to EVs, the country’s largest public sector bank SBI had announced a ‘Green Car Loan Scheme’. The State Bank of India offers an interest rate from 7.25% - 7.60% for loans given for electric vehicles. The eligible age group is from 21 years to 67 years for sanctioning the loan.

To increase the reach of the loan scheme, the bank tweeted the following:

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5. Chandigarh Administration floats tender to install charging stations in the union territory.

In a significant push to promote green mobility in the union territory, Chandigarh Administration has floated a tender, inviting eligible companies to bid for installing charging stations at 44 locations in the city. Public charging infrastructure will be set up in every sector. The aim is to install 100 charging stations in Chandigarh within two years.

There are plans to set up EV charging facilities at all petrol pumps in the city. Building bylaws will also be amended to facilitate setting up of EV charging stations in residential & commercial buildings.

For complete EV charging solutions, explore Kazam EV.

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