1. IIT Jodhpur develops a special adaptor to charge EVs using solar power.
IIT Jodhpur has announced the development of a special adaptor that will allow EV owners to charge their electric vehicles using solar power. A prototype was recently tested successfully. This adaptor will work with all types of EVs. It will be launched in the market soon and is likely to be priced around Rs 1000.
This low-cost adaptor will allow EV owners to charge their vehicles directly from rooftop solar panels. The device connects a solar panel on one end and the EV's charging unit on the other end. It can be easily attached to the company provided charging adapter without tampering with it, so the manufacturing warranty of the product is not violated.
2. Tripura to set-up EV charging stations in capital Agartala.
The Tripura state government has decided to set-up 4 EV charging stations in & around capital city Agartala. In the state, Tripura State Electricity Corporation Limited (TSECL) has been designated as the nodal agency for setting-up EV charging stations. A proposal has been placed before the Bureau of Energy Efficiency (BEE) through TSECL for allotment of funds for these stations.
Sites shortlisted for these EV charging stations include Nagerjala, Radha Nagar, TSECL corporate office & Chandrapur (located on the outskirts of Agartala).
3. Joy e-bike brand owner Wardwizard bags mega order from Philippines.
Wardwizard, owner of electric vehicle brand Joy e-bike, has secured an order worth $1.29 billion from Beulah International, a Philippines-based company specialising in renewable energy. Wardwizard will deliver products from its existing portfolio, including electric two, three & four-wheelers, in the cargo & passenger segments to the Philippines-based company. Wardwizard is expected to fulfil the order within the next 3 years.
This agreement by Beulah International aligns with Philippines Government’s ‘Public Utility Vehicle Modernization Program’ (PUVMP), which aims at replacing gasoline & diesel vehicles with environment-friendly alternatives.
4. Uno Minda ties-up with a Chinese company to make EV components.
Uno Minda Limited has signed a Technical License Agreement (TLA) with a Chinese auto components company ‘Suzhou Inovance Automotive’, for EV products for passenger & commercial vehicles in India. Uno Minda is working on expanding its electric four-wheeler components portfolio and this agreement is a step in the same direction. Suzhou Inovance’s products including the e-Axle ‘3-in-1 electric drive system’, motors, charging control units & EV inverters are among the components which are likely to be manufactured by Uno Minda in India. The company also aims to further consolidate this tie-up by converting it into a joint venture, if necessary governmental approvals are received.
Uno Minda shares jumped around 18% to reach a 52-week high of Rs 1018.75 per share. Brokerage firm Nomura revised its target price on Uno Minda after the latter announced this agreement with the Chinese firm. Nomura maintains its buy call on Uno Minda, with a revised target price of Rs 1063 per share. This is an increase of around 25% from the previous target price.
5. Elon Musk congratulates Narendra Modi. Hints at Tesla’s entry in India.
Tesla boss Elon Musk extended his congratulations to Narendra Modi on his victory in the recently concluded 2024 Lok Sabha elections. Musk also tweeted that he is looking forward to his companies doing ‘exciting work’ in India. Earlier in April this year, Musk had delayed his much-anticipated visit to India.
PM Modi thanked Musk for his wishes and replied:
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