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electric vehicles: Budget 2024 Expectations: Auto companies seek continued push to green mobility, infrastructure development

Budget Expectations: Leading firms in the automobile industry are expecting the upcoming Interim Budget to focus on promoting green mobility and infrastructure development. They are calling for policies that encourage the adoption of electric vehicles and a rationalized duty structure and GST for luxury cars. The industry also hopes for consistent policies and no surprises in the budget. Additionally, there are expectations for continued support for electric vehicles through the FAME scheme and addressing GST anomalies in self-drive cars. ....

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How Bajaj Auto is planning to up its EV game

Bajaj plans to scale up its electric vehicle business in Q4 FY, focusing on electric three wheelers and Chetak electric scooters. The company aims to expand its electric three wheeler network to 70-80 cities and increase Chetak EV sales to 15,000 units per month. Bajaj will commission a new facility for electric three wheelers and spend INR 400 crore. The future course of action depends on the FAME policy. Bajaj reported a 38% growth in Q3 FY24 with INR 2,032.62 crore PAT and INR 12,165.33 crore in total revenue. ....

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Maruti Suzuki eyes policy continuity in Interim Budget with focus on PLI and FAME schemes

Budget 2024: Maruti Suzuki anticipates the government s sustained focus on Production Linked Incentives (PLI) and the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME) schemes. Shashank Srivastava, Executive Director, emphasizes the importance of policies supporting economic growth, particularly in capital investment, public spending, and infrastructure. He expects continuity in the PLI and FAME schemes, contributing to the manufacturing sector s growth. ....

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No FAME, no growth: Ather Energy CEO has a warning on EV subsidies

In June last year, the central government has already reduced the subsidy amount on electric two-wheelers to Rs 10,000 per Kwh from Rs 15,000 per Kwh. It also reduced the maximum subsidy cap of 40 per cent of the ex-factory price of the vehicle to 15 per cent. ....

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