1. India finds lithium deposits. Will this be a game-changer for the country’s EV industry?

India announced its first significant discovery of lithium reserves. Lithium is the core element in lithium-ion batteries and very critical for the electric vehicle industry. The government said that 5.9 million tonnes of the element has been discovered in Jammu & Kashmir. Lithium is a key component in rechargeable batteries that are used in smartphones, laptops and most importantly from India’s point of view, in electric vehicles. The Geological Survey of India found the lithium reserves in a J&K district, India's Ministry of Mines said. In 2021, a small deposit of lithium was found in Karnataka. Lithium is used in batteries due to its impressively high energy storage capacity. Currently, China is India’s biggest EV battery supplier. For India to become self-reliant in the field of EV manufacturing without being dependent on China for EV battery supplies, this discovery holds vital importance. Experts say the discovery signifies a reduction in India’s dependence on foreign countries and will also bring down the cost of batteries and subsequently EVs.

2. MG Motors and Bharat Petroleum install 12 EV fast-charging stations on Delhi-Jalandhar highway.

MG Motors India and Bharat Petroleum launched an ‘Electric Vehicle Fast-Charging Corridor’ on the Delhi-Jalandhar National Highway with fast-charging stations at 12 BPCL petrol pumps. This fast-charging corridor will have charging stations installed at every 100 km on both sides of this busy highway. MG and Bharat Petroleum will be setting-up more such corridors on major highways across India.

MG ZS EV owners can enjoy preferential benefits at these EV charging stations and exclusive discounts. They will be able to locate the charging stations from their in-car dashboard & the ‘My MG’ app and make online payments through the ‘Hello BPCL’ app.

3. Mahindra showcases multiple electric cars in Hyderabad.

Mahindra showcased an electric hypercar ‘Pininfarina Battista EV’ at the Hyderabad E-Motor Show. Mahindra owns the iconic Italian car design company ‘Pininfarina’ since 2015. The electric hypercar can accelerate from 0-100 km/hr in just 2 seconds and from 0-300 km/hr in 12 seconds. Its top speed is 350 km/hr. The car is powered by a 120 kWh battery pack and its claimed range is up to 500 km. The battery pack can be charged from 20-80% in less than 25 mins using a 180kW charger. Sachin Tendulkar took a ride of the car and posted about it on his instagram handle:

The all-electric Battista is the world's fastest street-legal vehicle. It comes with a price tag of a whopping Rs 20 crores!

Apart from the Hyderabad E-Motor Show, Mahindra’s own event named the 'Mahindra EV Fashion Festival' was held in the city of Hyderabad. The automaker showcased its BE.05 & XUV e.9 electric cars. A new concept electric SUV named 'Rall-E' was introduced as well. The Rall-E seemed like an off-road version of the BE.05. The XUV.e9 & BE.05 will go into production in April 2025 & October 2025 respectively. The Rall-E too will go into production shortly after.

4. Kolkata civic body to set up EV charging stations.

The New Town Kolkata Development Authority (NKDA) is planning to set up 10 EV charging stations across New Town. These charging stations will offer affordable charging rates compared to the private charging stations in the area. New Town is situated at the north-eastern periphery of Kolkata and is an IT hub. The area has multiple five star hotels as well.

5. Tata Power share features in ‘stocks to buy’ by brokerage firms.

ICICI Securities and Jefferies has assigned a buy call to Tata Power shares. Tata Power is one of India's largest integrated power companies, with presence across the entire power value chain of conventional & renewable energy. The company has recently been very active in next-generation solutions including solar rooftop panels, solar pumps and EV charging solutions (end-to-end services including captive charger installations, fleet management, EV Charging Management System, etc). Tata Power recently declared that its consolidated net profit doubled in the quarter ended December 2022 compared to a year ago, due to higher revenues.

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