This week’s EV News Wrap Includes Hero Cycles in UK, EV sale in India, Ola e-scooter factory, FAME 2 scheme and more
Hero Cycles brings made-in-India e-bikes to Europe
Hero Motors Group has said that Hero Cycles has successfully delivered its first batch of “Made in India” e-bikes to Europe. The first batch of around 200 units has been delivered to Germany, with further units planned for the EU in future.
The shipment, under the HNF brand of Hero International (HIT), marks the start of the Indian bicycle major’s plan to become a leader in the European Union (EU) market
Electric vehicle sales in India to grow at 26% by Financial Year 2023 says Fitch Solutions
The recently announced electric vehicle incentives by India along with high fuel prices will be supporting factors for stronger adoption of electric vehicles over 2020-2023, leading to an average annual growth rate of 26%, Fitch Solutions said. However, it said the economic impact of Covid-19 pandemic and limited domestically produced electric vehicles will prove a challenging barrier to overcome.
Ola e-scooter factory phase 1 nearing completion, CEO shares pic
The first phase of Ola’s electric scooter factory is nearing completion and the company expects to start rolling out vehicles soon, Ola Group CEO Bhavish Aggarwal said. Last year, Ola had announced a Rs 2,400-crore investment for setting up its first electric scooter factory in Tamil Nadu. Aggarwal Tweeted “In just four months, this place has transformed from acres of empty rock land to the world’s largest 2Wheeler factory. The Ola Futurefactory phase 1 is nearing completion! The scooters are coming soon! Great work by team Ola Electric.
Ashok Leyland through UK Subsidiary Switch to set up Mother electric vehicle Plant In India says a report
Ashok Leyland is reportedly gearing up to set up ‘mother plant’ for electric vehicles in India under its UK-subsidiary Switch.
Switch UK will establish an Indian firm that will set up the plant and Leyland’s entire electric vehicle business will be shifted to Switch.
According to Times Of India, Switch will also develop electric vehicle specific platforms in electric light commercial vehicles and buses as well.
According to the publication Ashok Leyland’s current electric vehicle products that include e-buses delivered already to a few cities like Patna and Ahmedabad will also move to under Switch’s aegis.
FAME 2 scheme extended by another two years
The government has extended the second phase of FAME India scheme by two years till March 31, 2024, for faster adoption of electric mobility and development of its manufacturing ecosystem in the country. The second phase of FAME (Faster Adoption and Manufacturing of Electric Vehicles) India scheme focuses on supporting electrification of public and shared transportation