1. Adani firm to set-up EV charging stations at upcoming MG showrooms.

Adani TotalEnergies E-Mobility Ltd (ATEL) will install 60 kW CCS2 DC fast-chargers at upcoming MG showrooms across the country. ATEL will install and maintain this charging network. Additionally, an app will be introduced to locate chargers which will also help in user authentication, charging status monitoring and online payment.

Both companies will also work on integrating their charging networks. The Adani unit will offer RFID cards to MG via a ‘bulk purchase agreement’, and will offer preferential discounts to MG electric car owners.

2. Hyundai and Kia join hands with Exide for EV battery localization.

Hyundai and Kia Motors have announced a partnership with battery manufacturer Exide for EV battery localization in the country. The two South Korean automakers aim to localize their EV battery production in India, especially LFP battery cells.

Exide shares jumped 12% to hit a 52-week high after this announcement was made.

Hyundai India currently has the IONIQ 5 and Kona Electric in its EV portfolio. The company will launch the electric variant of its popular SUV Creta soon. Kia, on the other hand, sells just the EV6 at present. It is working on the electric variant of Carens.

3. Maharashtra state government-run EV charging stations in Pune to be powered by solar energy.

EV charging stations of Maharashtra State Electricity Distribution Co. Ltd. (MSEDCL) in Pune will soon run on solar energy. To supply solar energy to the charging stations, a ‘solar project’ will be set-up in the vicinity of the stations to generate power. The first charging station which will see this change is at Ganeshkhind in Pune. Work on a 60 kW solar power project on the terrace of Prakash Bhavan building in Ganeshkhind has begun.

4. Rajasthan Electronics & Instruments Ltd (REIL) issues tender for setting-up EV charging stations in Delhi.

Rajasthan Electronics and Instruments Ltd (REIL), a joint venture between Government of India & Government of Rajasthan, has issued a tender for selection of a Charge Point Operator (CPO) to install EV charging stations at 8 sites in Delhi.

The scope of work includes planning, supply, installing, operating & maintaining the EV charging stations for 10 years. The selected company will install 60 kW EV chargers with dual guns at every location. The company will also install a waterproof canopy, lighting system & security system at every station. The last date of submission of bids is April 23, 2024.

5. Tesla boss Elon Musk to visit India.

Elon Musk will visit India later this month to meet PM Narendra Modi. It is expected that Musk will announce Tesla’s investment plans in the country.

In June 2023, Musk met with PM Modi in US and expressed confidence that Tesla will enter the Indian market soon. Last month, Government of India cut import taxes on EVs for global automakers which commit to investing $500m and starting local production within 3 years. Automakers that meet these requirements will be allowed to import up to 8000 EVs that cost $35,000 or more annually at a tax rate of 15%.

Also, Tesla is looking for a local partner to set-up its operations in India. Sources say that the company is in talks with Reliance Industries for a possible partnership to build the manufacturing facility in the country.

At present, India's electric car market is small but growing and is dominated by Tata Motors (with a 72% market share).

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