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A comprehensive policy on the components for Electric Vehicles (EV), inclusion of commercial vehicles for incentives, clarity on the Goods and Services Tax (GST) on spare parts and consistency on the policy front, are the expectations of industry players from the forthcoming Interim Budget for transition from petrol/diesel vehicles to EVs.
Ev Charging: In Oak Brook, Illinois, near Chicago, on Monday, television reporters found Teslas that were running out of juice while in long lines for plugs at a Supercharger station. The temperature hit a low of minus 9 Fahrenheit (-23 Celsius).
Currently one in four vehicles sold globally is electric but in India the adoption is less than 2% for passenger vehicles, less than 5% for two-wheelers and around 15% for three-wheelers, said Satyakam Arya, MD&CEO, Daimler India Commercial Vehicles. India, he said, needs a lot of support and incentives from the government to make the sustainable transition happen. “The FAME scheme will end in March 2024 but we are not over the trough in terms of EV adoption,” he said.
Volvo Car India Sales: The locally assembled all-electric XC40 Recharge performed exceptionally well, with 510 units sold during this period. Additionally, the XC60, the top-selling model, witnessed a significant surge, resulting in 921 deliveries in 2023. C40 Recharge has also shown great response and accounts for 180 units within a short period in 2023, the company said.
E-vehicle Hub: According to the MOU signed with the Gujarat government, the company has purchased 100 acres of land and will get the auxiliary cluster unit setup in it from the vendors. Battery manufacturing, control unit and motor manufacturing will take place in these auxiliary clusters.