Electric passenger vehicle sales in India surged in May, exceeding 4 per cent of total sales, a notable increase from 2.6 per cent in May 2023. Overall auto retail sales experienced a modest 5 per cent rise, with two-wheelers leading the growth, driven by rural demand and auspicious events.
Electric passenger vehicle sales in India surged in May, exceeding 4 per cent of total sales, a notable increase from 2.6 per cent in May 2023. Overall auto retail sales experienced a modest 5 per cent rise, with two-wheelers leading the growth, driven by rural demand and auspicious events.
India's auto industry faces disruption as China restricts rare earth magnet supplies, crucial for EVs and other components. Despite embassy endorsements for some importers, China's commerce ministry hasn't approved shipments, impacting various sectors beyond automobiles. Diplomatic efforts are underway to resolve the issue, which stems from China's export controls on rare earth elements.
Epigral is set to more than double its wind-solar hybrid power capacity to 38.14 MW with a Rs 21.38-crore investment. Partnering with Prozeal Green Energy Ltd, Epigral will acquire a 26% stake in a special purpose vehicle to add 19.80 MW of renewable capacity.
Vedanta Ltd has increased its renewable energy power capacity to 1.03 GW and is on track to achieve 2.5 GW of green energy by 2030. This expansion will help the company mitigate over 6 million tonnes of carbon emissions annually, equivalent to the carbon sequestration of approximately 350 million trees.
KP Group and Delta Electronics India have forged three strategic agreements to advance clean energy solutions. The collaboration focuses on Battery Energy Storage Systems (BESS), green hydrogen infrastructure, and solar PV inverters. KP Group will handle project development and site integration, while Delta will provide technology and support, aiming to accelerate renewable energy deployment in India and overseas.
BMW India has introduced a uniform ex-showroom price of ₹2.05 crore for its electric sedan BMW i7 across all states, covering registration charges, GST, and compensation cess to ensure price parity. Customers will only pay for insurance, TCS, and local cesses. The move aims to simplify pricing, reduce uncertainty, and promote electric vehicle adoption nationwide.
ACME Solar Holdings has started the first part of its wind power project in Shapar, Gujarat. This adds 26.4 MW to their capacity. The project uses Envision turbines and connects to a substation with a dedicated line. ACME will sell the power to Gujarat Urja Vikas Nigam Ltd under a 25-year agreement. ACME's total operational capacity is now 2,731.4 MW.
ZF Wind Power has inaugurated a 13.2 MW test rig for gearboxes and powertrains in Coimbatore, India, marking it as the largest facility of its kind in the country. This advanced test rig will facilitate the development and validation of next-generation wind turbine technology, ensuring reliability and performance under dynamic load conditions.
India is making strides towards net-zero goals. Green buildings are becoming more common. Sustainable construction is growing nationwide. India ranks third globally in LEED-certified spaces. This contributes significantly to global green building efforts. Eco-friendly real estate is changing construction. Housing, offices, schools, airports, IT parks, and hospitals are all impacted. This shift is reshaping how buildings are built and used.
Indian Oil is set to invest ₹1,086 crore in Terra Clean Ltd. to boost its green energy capacity by 4.3 GW, adding to a previous investment for 1 GW. The company reported a 50% rise in Q4 profit, driven by inventory gains and improved marketing margins, despite a lower GRM.
India's EV sector is experiencing rapid growth, supported by government incentives and advancements in battery technology. Efforts to expand charging infrastructure and reduce import duties are crucial factors driving the adoption and demand for electric vehicles, setting a promising path towards significant market penetration by 2030.
The future of India's urban growth hinges on sustainable real estate, which drives economic growth, energy efficiency, and enhanced living standards. Falling solar power costs and innovative designs offer profitability and environmental benefits, while both new constructions and smart retrofits provide significant opportunities for developers, investors, and homebuyers alike.
The PM E-Drive scheme, initiated in September 2024 to boost electric vehicle adoption, has achieved significant progress, particularly in large electric three-wheeler sales, exceeding 75% of its target. While electric two-wheeler sales have reached 48% of the goal, e-rickshaws lag behind. Efforts are underway to deploy e-buses across major cities, with a payment security mechanism ensuring timely payments to suppliers.
