ViVa or Vidyut Vahan is India's first quick charging electric vehicles. ViVa takes 90 per cent less time to charge. An electric rickshaw can be charged in 80 minutes, instead of 10 hours it takes now.
It has been developed by Radsol Energy, a startup comprising of IIT Delhi graduates.
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State-run firm Energy Efficiency Services Ltd (EESL) has been tasked with the job of triggering early adoption of electric vehicles. The newly-created firm, which made a name for itself by reducing the price of LED lights for home lighting by 86%, floated a tender for procuring 10,000 electric cars, the largest such procurement in the world.
Tata Motors Ltd won the EESL contract, with Mahindra and Mahindra Ltd matching its bid and winning 30% of the order.
“There is a need to kick-start the market and that is what we have done with this 10,000 vehicles tender. It’s a trigger in many ways,” EESL managing director Saurabh Kumar said in an interview before the EV bid results were declared.
The vehicles will be procured at a per-unit price of Rs11.2 lakh with the aim of laying the foundation for a mass shift to EVs by 2030.
EESL’s business model is to make these vehicles available on lease to the government and its agencies for around Rs45,000 per month, which is Rs5,000 less than what is currently paid for petrol and diesel cars.
EESL floated a tender for procuring 10,000 electric cars, the largest such procurement in the world
“This model in the government can actually do wonders,” said Kumar.
Sending a clear signal that India is firmly moving towards electric vehicles, the goods and services tax (GST) Council has set a tax rate of 12% for electric vehicles, compared with 28% plus cess for petrol and diesel cars and hybrid vehicles.
The Indian auto industry was also warned by the government in September to switch to production of vehicles running on non-polluting alternative fuels or risk being overtaken by inevitable policy change. Ashok Jhunjhunwala, a professor at the Indian Institute of Technology, Madras, who is spearheading the government’s EV programme, declined to comment for this article.
Investors’ rush
From Finnish state-controlled energy utility Fortum which plans to develop EV charging infrastructure in India, to billionaire Sajjan Jindal’s JSW Group which is exploring a partnership with China’s Zhejiang Geely Holding Group Co. to make EVs, the list of investors drawn to India’s EV sector is quite long.
Swiss stock exchange-listed Leclanché SA also plans to partner with SUN Mobility for developing battery storage solutions.
From China’s Zhuhai Yinlong New Energy Ltd, which plans to set up an EV manufacturing plant in Punjab, to BP Plc, which is planning to leverage its partnership with Reliance Industries Ltd to explore unconventional mobility solutions, nobody wants to be left behind.
“It (EVs) is gaining a lot of momentum. There is a lot of talk,” said Malcolm Wrigley, country manager, India, for French energy firm Engie SA, in an interview.
To a question on whether Engie would be interested in setting up EV car charging infrastructure in India, Wrigley said, “That certainly is on the agenda.”
Currently, Mahindra & Mahindra Ltd is the only automaker selling a fully electric car in the country, while others including Maruti Suzuki India Ltd and Toyota Motor Corp. offer hybrid versions.
Lithium and the China overhang
Despite the euphoria surrounding India’s EV programme, speed bumps in the policy and corporate landscape remain. One such hindrance is that India does not have enough lithium reserves for manufacturing lithium-ion batteries. This could lead to a substantial change in the country’s energy security priorities, with securing lithium supplies, a key raw material for EV batteries, becoming as important as buying oil and gas fields overseas.
This is easier said than done, given that Chinese firms are already acquiring assets in countries such as Bolivia, Australia and Chile, which have substantive lithium reserves, trying to establish a monopoly on lithium reserves. With China overtaking the US last year as the world’s biggest electric car market, there have been concerns about supply shocks.
Currently, Mahindra and Mahindra Ltd is the only automaker selling a fully electric car in the country
In the world of high renewable energy there are materials other than oil where there may be opportunities for cartels.
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