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EaseMyTrip ventures into electric bus manufacturing with new subsidiary

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Leading online travel platform EaseMyTrip.com is entering the electric vehicle (EV) market through its new subsidiary, Easy Green Mobility, focusing on electric bus manufacturing. This move comes as the Indian electric bus market is projected to grow at a 24% CAGR from 2024 to 2030. Easy Green Mobility will develop advanced electric buses equipped with cutting-edge technology and long-range battery systems. Another EaseMyTrip subsidiary, YoloBus, will handle the operational side of these buses. The company…

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Odisha government disburses Rs 1.54 billion in EV subsidies since FY 2022-23

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The Odisha government has provided a total of Rs 1.54 billion in subsidies to electric vehicle (EV) owners since the 2022-23 financial year, according to Transport Minister Bibhuti Bhusan Jena. The sale of EVs in the state has shown a significant increase since the subsidy initiative began on September 1, 2021. In 2022-23, the state disbursed Rs 0.088 billion in subsidies for 14,182 EVs, and this rose to Rs 0.572 billion for 36,518 registered EVs…

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India adds 3.6 GW solar open access capacity in first half of 2024, a 153% surge

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India added 3.6 GW of solar open access capacity in the first half of 2024, marking a 153% increase from the 1.4 GW installed during the same period in 2023, according to a report by Mercom India. This addition surpasses the total annual installations of all previous years. In Q2 2024 alone, the country added 1.8 GW of solar open access capacity, representing a 152% year-over-year increase compared to 712.8 MW in Q2 2023. Adani…

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India’s renewable energy sector poised to drive economic growth: Pralhad Joshi

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Union Minister Pralhad Joshi emphasized the rapid growth of India’s renewable energy sector and its potential to significantly boost the economy. Speaking at the BNEF Summit, Joshi highlighted the Modi government’s initiatives to promote renewable energy, including competitive industry structures and low solar power costs due to India’s abundant sunny days. The minister stressed that India’s path to decarbonization lies in meeting incremental electricity demand with non-fossil fuel sources, for which large-scale grid storage solutions…

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GERC sets Rs 2.84 per kWh tariff for sub-10 MW wind power projects

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The Gujarat Electricity Regulatory Commission (GERC) has established a levelised tariff of Rs 2.84 per kWh for wind power projects with a capacity of less than 10 MW, commissioned between June 6, 2022, and March 31, 2027. These projects will have a lifespan of 25 years, with a depreciation rate of 60% in the first year, followed by 4.67% per annum for the first 15 years, and 2% annually from the sixteenth to the twenty-fifth…

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Volvo revises 2030 target, shifts focus to hybrids amid slowing EV demand

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Volvo Cars has revised its 2030 target of going fully electric, now expecting to offer some hybrid models by that time. The automaker cited slowing demand for electric vehicles (EVs) due to a lack of affordable models, slow rollout of charging infrastructure, and upcoming European tariffs on electric cars made in China. Shares in Volvo dropped 7.5% following the announcement. Volvo now aims for 90% to 100% of its cars to be fully electric or…

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Eaton to establish Rs 2 billion R&D centre in Tamil Nadu

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Eaton, the over-century-old intelligent power management company, has announced plans to establish a research and development centre in Tamil Nadu, strengthening its presence in India. The new facility, spanning 1 lakh sq ft, will be located in Sholinganallur, Chengalpet district, and is expected to be completed by the end of 2026. Chief Minister M K Stalin and Minister for Industries TRB Rajaa, currently in the United States to attract investments, signed a memorandum of understanding…

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Survey reveals 50% of Gen Z prefer solar energy solutions

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A recent survey assessing awareness of clean energy sources found that 50% of Gen Z respondents prefer solar energy solutions, closely followed by 46% of Millennials. The survey, conducted between February and March 2024, included 4,318 participants across five metros (Bangalore, Delhi, Hyderabad, Kolkata, Mumbai) and eight non-metro cities (Ahmedabad, Chandigarh, Gurugram, Guwahati, Jaipur, Kochi, Lucknow, and Patna). The survey explored preferences across four age cohorts: Gen Z (18-22 years), Millennials (23-38 years), Gen X…

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48 per cent GST on hybrid cars, 5 per cent on EVs to stay: Amitabh Kant

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Mercedes-Benz India’s Managing Director and CEO, Santosh Iyer, has praised the Central government’s commitment to the transition from internal combustion engine (ICE) cars to electric vehicles (EVs). Iyer referred to the recent statement by India’s G20 Sherpa, Amitabh Kant, reaffirming the country’s long-term plan to maintain a 5% tax on electric cars and 48% tax on hybrid vehicles.   On Thursday, Mercedes-Benz launched its first electric Maybach SUV, the Maybach EQS 680, starting at Rs 22.5…

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Government to launch FAME-III scheme within two months

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The Indian government plans to roll out the third phase of the Faster Adoption & Manufacturing of Electric Vehicles (FAME) scheme within the next two months, according to H D Kumaraswamy, Minister of Heavy Industries. Speaking at an industry event in New Delhi, Kumaraswamy emphasized the government’s commitment to advancing India’s electric vehicle (EV) ecosystem, focusing on local manufacturing and sustainable growth. The FAME scheme, initiated in 2015 with an initial outlay of approximately Rs…