1. More Tesla-India talks.

Tesla has been in touch with the Indian government over its plan to build a factory in the country. Tesla has been demanding a separate ecosystem for their suppliers. As per recent reports, Tesla communicated to the Indian government that it wants permission for its Chinese suppliers to build a local base in the country. The reason for this was to ascertain a smooth supply chain and avoid import duties on important components. But the Indian government has requested that Tesla’s Chinese suppliers must partner with an Indian company. The Indian govt has asked Tesla to follow the Apple model and ask the Chinese suppliers to team up with local Indian companies and enter the Indian market by forming joint ventures. Apple has managed to create a comprehensive supply chain in India by partnering with domestic players. Chinese mobile phone companies Vivo and Xiaomi have also been asked to find local Indian partners.

Tesla's largest gigafactory is in Shanghai, China. But China has become a sensitive topic in the last few years and many companies are trying to look for alternatives. Tesla too is trying to hedge its position in Asia and India seems to be its preferred destination. Tesla's main battery supplier Panasonic is also planning a lithium-ion battery manufacturing unit in India.

Tesla aims to manufacture relatively cheaper electric cars in India for domestic sales as well as exports. At present, Tesla’s cheapest car is Model 3, prices of which start at $40,240.

The company aims to present a car at a much cheaper price of $24,000 when the Indian factory is up & running.

2. Bolt.Earth achieves major milestone.

Bengaluru-based EV charging company Bolt.Earth has announced touching the 30,000 EV charging points mark. The company is growing at a rate of 500 charging points per month.

The company claims that a number of strategic collaborations with key players within the EV ecosystem has enabled this widespread growth. Bolt.Earth aims to install 1 lakh charging points within the next 18 to 24 months across private, shared & public sectors.

3. Mahindra raises funds for its EV division.

Auto major Mahindra has raised $145 million from Singapore-based investment company Temasek for its electric vehicle division. The deal values Mahindra's EV division at $9.8 billion. In 2022, Mahindra had raised $250 million from British International Investment at a valuation of $9.1 billion.

Industry experts are claiming that this investment from Temasek is a big vote of confidence for Mahindra's Ev strategy. The company will use this investment to increase its electric SUV production capacity and develop new EV models. The company is also planning an EV charging network.

Mahindra is pro-actively working to increase its market share in India’s EV market that is currently dominated by its rival Tata Motors. Mahindra aims that, by 2027, 20-30% of its SUV sales will be electric.

4. Tata Power introduces EZ Charge card.

Tata Power has introduced an RFID-enabled card for its EV charging customers. This card is intended to make charging at Tata Power charging stations seamless by eliminating the need of a mobile app. The ‘EZ Charge’ card offers customers the convenience of ‘tap-charge-go’. The card has a chip which enables a seamless and secure initiation of a charging session and payment.

EV users will also find this RFID card beneficial in areas with limited mobile network coverage. Customers will be able to initiate charging sessions in such areas with the card without worrying about network issues. EV owners can order the EZ Charge card via the company website or at Tata Motors dealerships.

5. Yulu introduces a partnership program for entrepreneurs.

Bangalore-based electric micro-mobility service provider Yulu has launched the ‘Yulu Business Partner’ program for entrepreneurs. This program provides entrepreneurs the opportunity to launch Yulu’s services in their cities with comprehensive end-to-end support from the company.

This opportunity is suited for budding entrepreneurs in tourist cities and also for those who want to provide last-mile logistics services in their places. Yulu is offering flexible options for partners to purchase its purpose-built two-wheelers, swappable batteries and charging systems, which are designed to be scalable. Yulu’s business partners will get access to the company’s AI-enabled tech platform, along with necessary training and on-boarding support needed to independently manage day-to-day operations. Eligibility needs include investment of Rs 30 lakh-2 crore.

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