Automobile companies move fast towards electric vehicles

Automobile companies move fast towards electric vehicles

Amidst the rising petrol and diesel prices, Indian automobile companies are rapidly transforming themselves into advanced automotive tech companies. The central government has announced a PLI of Rs 25938 crore to companies producing electric and hydrogen-fueled vehicles. In the last few years, the focus of auto companies has shifted towards electric vehicles. Already before this announcement, the auto companies of the country are making a fuss in the direction of electric vehicles.

The race for kingship in the Electric Vehicle sector: 02 lakh direct and indirect jobs expected

52 automobile companies have applied for PLI scheme and Expected to have 30% share of EVs in India by 2030

Automobile companies move fast towards electric vehicles

Hero MotoCorp

  • Set to launch electric scooter soon
  • Buys 38% stake in EV startup Ather Energy.
  • The agreement signed with Taiwanese company Gogoro for EV technology

Ashok layland

  • Plans to transfer EV business to its sister company Switch Mobility
  • Will produce small commercial EVs such as vans and electric buses under the Switch brand

Bajaj Auto

  • formed a new subsidiary to handle the EV business.
  • Chetak is making an electric scooter
  • Will make high mileage e-bike with KTM.

Bharat Forge in electric vehicles

  • Ties with British EV company Teva to make modular commercial EVs.
  • Setting up a factory to make EV equipment,
  • Investing in two-wheeler startup Torque Motors.

Mahindra & Mahindra

  • The market leader in the small commercial electric vehicle segment is the country’s first EV maker.
  • Treo manufactures EVs under the brand name and plans to invest Rs 3000 crore in the EV segment.
British brand Jaguar

Tata Motors

  • After Nexon and Tigor, the market leader in the electric car segment and working on Altroz EV
  • All set to make British brand Jaguar all-electric.

TVS Motors in electric vehicles

  • Plans to invest Rs 1000 crore in the EV segment and an e-scooter available in the market under iCube.
  • Working on plans to make the entire portfolio of 2 and 3 wheelers electric

Currently, charging infrastructure for e-mobility is a neighborhood of concern; however, some positive developments are. Delhi recently legalized charging stations for e-rickshaws and hopes that civic agencies and private players would step forward with more incentives. NTPC, India’s largest power generation utility, has already commissioned its first Electric Vehicle charging station – created in-house with a capacity to charge three electric vehicles together- in Vishakhapatnam.

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