1. Karnataka tops the list of states with highest number of EV charging stations.
According to the latest figures from the Bureau of Energy Efficiency (BEE), Karnataka has the highest number of public EV charging stations in India. The state leads with 5765 charging stations followed by Maharashtra with 3728 stations. In Karnataka, 85% of these stations are concentrated in the Bengaluru Urban district.
The EV charging stations in the state have been funded under multiple initiatives like central government's FAME scheme, BESCOM's investments, green cess fund from the state’s transport department & public-private partnerships.
2. Foxconn to open a Battery Energy Storage System (BESS) unit in Tamil Nadu.
Foxconn is planning to open a Battery Energy Storage System (BESS) unit in Tamil Nadu. In India, Foxconn’s battery storage division will primarily focus on electric cars. The company had set-up its 1st BESS facility last year in Taiwan for electric buses. BESS allows the storage of energy generated from renewable sources like solar & wind.
Foxconn also plans to start EV manufacturing in India soon.
3. EV unit of Sterling Tools records significant growth.
Faridabad-based Sterling Tools is India’s 2nd largest automotive fastener manufacturer, and the company’s 100% owned subsidiary, Sterling Gtake E-Mobility (SEGM) is the country’s largest Motor Control Unit (MCU) manufacturer for the EV industry. SEGM’s client portfolio includes almost all leading OEMs in the country. Recently, the subsidiary was awarded at Ola Electric’s Sankalp event.
Shares of Sterling Tools Ltd (STL) hit upper circuit post this on the BSE and surpassed its previous high. SGEM has continuously grown since its formation and now contributes around 35% of STL’s total revenue, up from 23% last year.
4. TVS looking to boost EV sales globally.
TVS Motors is working on boosting its EV sales across international markets. Apart from India, the company plans to utilize its manufacturing unit in Indonesia to serve nearby developed & developing markets.
To magnify its presence, TVS is actively participating in international auto shows, showcasing its EVs with a special focus on electric two-wheelers. The company recently launched a new limited edition of its popular iQube electric scooter, the iQube Celebration Edition, to celebrate India’s 78th Independence Day. To maintain uniqueness, only 1000 units each of the iQube 3.4kWh & the iQube S ‘Celebration Edition’ will be up for sale. These limited editions are available at no extra cost. The TVS iQube 3.4kWh model is priced at Rs 1.20 lakh and the TVS iQube S is priced at Rs 1.30 lakh. The limited edition comes in a unique burnt orange colour. The scooter will also feature a 'Celebration Edition' badge. Deliveries for the same will begin on August 26.
TVS has already sold 52,000 iQube electric scooters in the first quarter of the current financial year. It is a significant increase over the 39,000 units the company sold during the same period last year.
5. King Charles to convert the royal fleet to electric. EV chargers to be installed at royal properties.
The Buckingham Palace is ready to get a major electrical upgrade as 27 EV chargers are set to be installed at the property. This move comes after King Charles announced some eco-friendly changes to his transport fleet. The environment conscious King Charles already has the distinction of owning the Royal Family’s first electric car, a Jaguar I-PACE. A Jaguar fast charging station was installed at his residence when he made that purchase.
The new EV chargers are being installed before a planned switch to an all-electric fleet is executed. EV charging points were installed at the Windsor Castle earlier this year.
For complete EV charging solutions, explore the Kazam website.
