Evolution is a gradual process. However, it can be lightning-fast at times. After 150 years of little activity in the field of electric vehicles, Tesla sparked a chain reaction of significant growth and change in 2006. The market for electric vehicles has skyrocketed since then, as has the EV charging sector.
Significant technological advancements, along with an increasing sense of urgency in the push toward clean, sustainable energy, are altering how institutions and organizations view their position in the transportation system.
With the surge in the adoption of EVs, let’s take a look at the industry updates in November 2021.
EV News Highlights
a. Oppo may enter the electric vehicle market in India, with an anticipated debut date of 2024.
b. In 2022, Skoda Enyaq iV EV Could Be Launched in India
c. British electric vehicle start-up One Moto to launch three scooters in India
d. Hero MotoCorp to transition to electric vehicles in 2022
e. eBikego to manufacture an all-electric Velocipedo trike in Pune
Trends in EV Sales
a. Overall EV sales continue to expand, with 42,055 units sold in November 2021, an increase of 8.7 percent month over month and 227 percent year over year.
b. This is the first time that electric vehicle registrations have exceeded 40,000 in a single month.
c. In November 2021, electric two-wheelers and passenger-type electric three-wheelers accounted for 92 percent of total registrations, respectively. Following them are cargo-type electric three-wheelers (3.9 percent), e-cars (3.7 percent), and so on.
d. Among all states and union territories, Uttar Pradesh continues to have the highest monthly reported EV sales, accounting for 20% of total EV sales in India in November 2021. Maharashtra ranks second in sales with an 11% share, followed by Karnataka (9%), Rajasthan (9%), Delhi (9%), and Rajasthan (9%). (8 per cent).
Regulations & Policies
a. With four months remaining in the initial timeframe, the FAME-II program reaches only 10% of its aim.
b. Goa establishes an EV policy and sets a target of 30% EV uptake by 2030.
c. The Delhi government is offering a subsidy of Rs. 6,000 per charging station to the first 30,000 applicants.
Infrastructure for Charging and Battery Swapping
a. Indian Oil and BPCL are establishing charging infrastructure at fuel stations.
b. Bounce and Park+ intend to establish battery switching stations throughout India.
c. Yulu is in charge of station deployment and battery swapping stations.
d. In Mumbai, Chartered Bike will deploy over 2,000 electric bikes and 200 charging stations.
a. eBikeGo acquires Kustard Technology, an electric two-wheeler mobility platform.
b. Magenta would invest INR 250 crore in Tamil Nadu to develop an electric vehicle factory.
c. Ather begins operation of its second facility in less than a year.
d. ElectricPe, an EV charging platform, has raised $3 million in a Seed Round.
e. Simple Energy, an electric vehicle manufacturer, receives $21 million in funding.
Global Market Insights
a. Nissan unveiled an aspirational electric vehicle strategy, committing $18 billion to the development of 23 EVs.
b. Macquarie's green investment unit will collaborate with Engie and Fluence to develop a battery storage project.
c. BlackRock invests $788 million in e-car charging startup Ionity.
d. Ford and Rivian's electric vehicle plans have come to a halt.
e. Nio and Shell have partnered across Europe and China to offer battery swapping and charging facilities.
f. Tata Chemicals is in talks to acquire Johnson Matthey's battery division.
When self-managing technologies, conditionally aware assets, and intelligent distribution management platforms are added, it's simple to see why this technological explosion has everyone scratching their heads. Figuring out what's next is a challenge - while electric vehicle adoption has surged through the margins with a burst of optimism, the charging infrastructure remains a critical component of EV adoption. It has continued to stoke optimism for the coming year, with powerful firms such as backing the growth story.