EV makers may get boost with INR 2,671 crore allocation in interim budget 2024

EV makers are likely to agree with Finance Minister Nirmala Sitharaman to allocate an outlay of Rs 2,671 crore for faster adoption and manufacturing of electric (and hybrid) vehicles in India (FAME) for FY25. The additional outlay of the scheme in the interim budget is the first official indication...

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BPCL invests Rs 120 crore to install 1800 DC fast EV chargers

BPCL has placed an order for 1,800 DC EV chargers from Servotech Power Systems Ltd. With a project value of Rs 120 crore, Servotech will manufacture, supply, and install 1,800 EV chargers across the country at BPCL's petrol pumps in major cities by the end of the year 2024. As part of the BPCL E-...

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Budget 2024: Auto industry expects liberal support for green mobility drive

NEW DELHI: All eyes are on the Interim Budget 2024, which will be presented in Lok Sabha by Union Finance Minister Nirmala Sitharaman on February 1. Expectations are high for the new announcements and policy changes announced in previous Budgets. The Indian automobile industry wants to move faster t...

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Ford making a comeback: Is it for real?

Recently, a job advertisement about Ford India hiring for the position of Product Manager, EV Platform was doing the rounds on the inteet. But when the LinkedIn account from which the post was made was searched, it was found that the account was disabled. This comes as the company earlier this month...

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Indian automotive aftermarket expected to reach USD 14 billion by 2028: E&Y report

NEW DELHI: India's automotive aftermarket, which was worth $10 billion in 2023, is expected to grow 1.4 times to reach an estimated $14 billion by 2028. ACMA, the apex body for the auto components industry has given this data from its Global Automotive Aftermarket Research Report, which was conducte...

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Opinion: How the Interim Budget 2024 can foster robust automotive landscape

NEW DELHI: Since it is a Lok Sabha election year, the Union Budget 2024 on February 1 will be provisional. The automotive industry expects the budget to adopt a growth-oriented strategy, prioritizing improving localization capabilities and stimulating the adoption of alteative fuel solutions. This i...

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Buying a car? Find out how much car loan to take using the 20/10/4 rule

Financial institutions typically offer car loans for up to 80% of the vehicle's on-road price, and some lenders offer 100% coverage. The loan-to-value (LTV) ratio determines the loan amount, and borrowers are responsible for the remaining cost. Buying a home stands out as a critical financial choic...

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What can the government in the Budget 2024 do to charge up India's EV sector

India's electric vehicle sector achieved a historic milestone in 2023, with sales crossing 1.5 million units and year-on-year growth of 50%. However, EV penetration remains low due to range conces, high prices, and inadequate charging infrastructure. Dr. Waman Parkey, Partner and Head of Automotive ...

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How Solid State Battery can open new avenues of power storage solutions

New Delhi: In an energy storage landscape that is constantly evolving and changing rapidly, the advent of solid-state batteries (SSBs) heralds a new era of possibilities, making them a major game changer. With increasing demand for improved performance and attempts to find safer energy storage solut...

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