The Reserve Bank of India is considering a proposal from the Niti Aayog to categories loans to purchase electric vehicles under the priority sector lending (PSL) segment. If the proposal is accepted, it will help the segment get credit at lower interest rates. Currently, these loans are given under the auto retail category, but lenders […]
Elon Musk has strong views on hydrogen. Not everyone agrees – EQ Mag Pro
Electric vehicles have batteries that need to be charged by plugging the vehicle into a charging point, whereas fuel cell vehicles utilize hydrogen gas and “generate their electricity onboard.” Firms including Toyota and Hyundai have produced hydrogen fuel cell vehicles, while smaller manufacturers such as Riversimple are also working on hydrogen-powered cars. Tesla CEO Elon […]
RBI weighs priority sector loans for electric vehicles
The Reserve Bank of India is considering a proposal from the Niti Aayog to categorise loans to purchase electric vehicles under the priority sector lending (PSL) segment. If the proposal is accepted, it will help the segment get credit at lower interest rates. Currently, these loans are given under the auto retail category, but lenders […]
BATTERY PACK PRICES FALL TO AN AVERAGE OF $132/KWH, BUT RISING COMMODITY PRICES START TO BITE – EQ Mag Pro
BloombergNEF’s annual battery price survey finds prices fell 6% from 2020 to 2021 Hong Kong and London : Lithium-ion battery pack prices, which were above $1,200 per kilowatt-hour in 2010, have fallen 89% in real terms to $132/kWh in 2021[1]. This is a 6% drop from $140/kWh in 2020. Continuing cost reductions bode well for […]
Are electric vehicles reliable? Check what this study says – EQ Mag Pro
The study points that electric cars are increasingly becoming complex and therefore vulnerable to reliability issues. Electric vehicles are finding an increasing foothold in the global automobile market. With increased pricing of fossil fuels, higher level of awareness about vehicular emission and global warming, imposition of stricter emission norms and several governments imposing deadlines on […]
Good News For Buyers! By 2024, Prices Of Electric Vehicles Will Be Same As Petrol, Diesel Cars – EQ Mag Pro
“We are working to increase electric vehicles sales and in the next two years, your vehicle will be electric,” Gadkari said. National Highway Authority of India (NHAI) is already working towards increasing the number of EV charging stations along the National Highways. EV market in India is expected to make up about 12 per cent […]
Electric vehicles alone will not save Earth – EQ Mag Pro
COP26 may have been one of the last chances to head off devastating climate change, and yet, the best and boldest action our leaders could envision for transportation was the universal adoption of electric vehicles (EVs) with a vague nod to active and public transport. At the COP26 climate summit, world politicians patted themselves on […]
How much do electric vehicles cost to ‘fill up’ compared with buying gasoline? – EQ Mag Pro
Where you live is the biggest factor, and EV road trips could lead to sticker shock Auto makers plan to electrify their future lineups, upending the way drivers fuel. Congress just gave a jolt to those efforts, passing a $1 trillion infrastructure bill that includes billions for EV charging. What does it cost to “fill […]
Cost of electric vehicles will drop, will be on par with petrol in 2 yrs – EQ Mag Pro
This is significant because by 2030, India has set a target of 30% EV sales penetration for private cars, 70% for commercial vehicles, 40% for buses and 80% for two and three-wheelers. Union transport minister Nitin Gadkari said the cost of electric vehicles (EV) in India will drop to the level of petrol vehicles in […]
Odisha makes 100% exemption on taxes for electric vehicles – EQ Mag Pro
As per the policy, the state will provide a 15 per cent subsidy, a maximum of Rs 5,000 for two-wheelers, Rs 10,000 for three-wheelers, and Rs 50,000 for four-wheelers on the base price. The Odisha government has made a 100 per cent exemption on motor vehicle (MV) taxes and registration fees on electric vehicles in […]