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                            The pandemic has not impacted the electric vehicle story adversely. In fact, it may have accelerated the shift

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                                                                    may have come as a rude shock for doubting Thomases who believed that the future of mobility is something else. While sale of conventional passenger vehicles and two-wheelers in the country declined over 9 per cent and 13 per cent, respectively, in FY21, electric two- and four-wheelers bucked the trend and posted impressive growth.

                                                                      1. Sales of electric two-wheelers surged over 64 per cent, while four-wheelers grew over 68 per cent. Yes, this is on a small base, but encouraging. In a year where nearly two months were lost due to lockdown, it is the clearest indication yet that after sputtering for years, the electric mobility story is on track towards an inflection point when it will become mainstream.

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                                                                          "Covid did us a favour as sustainability and people's preference for greener vehicles increased, as did the slant towards private mobility. We believe the industry is just getting started and there are exciting times ahead of us," says Nagesh Basavanahalli, Group CEO and Managing Director, Greaves Cotton, which acquired electric two-wheeler company Ampere Vehicles in 2018. "We are beginning to see traction. We surpassed the full-year performance of FY2020 in just nine months of FY2021 despite Covid."

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                                                                                Covid did us a favour as sustainability and people's preference for greener vehicles increased, as did the slant towards private mobility

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                                                                                        • Nagesh Basavanahalli,
                                                                                          Group CEO and Managing Director,
                                                                                          Greaves Cotton

                                                                                            • The strong growth for the segment prompted Nitin Gadkari, the Union Minister of Road Transport and Highways and one of the earliest advocates of electric mobility in the country, to say bet365 bonus code 2018 would become the global leader in this technology. "bet365 bonus code 2018 is moving ahead towards making electric vehicles (EVs). In due course, we will be the number one EV maker in the world. All reputed brands are present in bet365 bonus code 2018," Gadkari said while addressing the Amazon Smbhav summit on April 18. "We have tremendous capability for making green power. Within six months, I am confident we will be in a position to make 100 per cent lithium-ion battery in bet365 bonus code 2018. E-mobility will be an important tool to develop pollution-free transport."

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                                                                                                                bet365 bonus code 2018 is moving ahead towards making electric vehicles (EVs). In due course, we will be the number one EV maker in the world

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                                                                                                                Nitin Gadkari,
                                                                                                                Union Minister of Road Transport and Highways

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                                                                                                                      EVs are touted as a one-stop solution to many problems in bet365 bonus code 2018. These include those related to air pollution and steep oil import bill that depletes our foreign exchange reserves. bet365 bonus code 2018 consumes 29.4 per cent of the world's oil and crude oil accounts for more than a quarter of its imports. It spent over $100 billion on oil imports in FY20. According to a report by Niti Aayog and Rocky Mountain Institute, a reduction of 156 million tonnes of oil equivalent worth Rs 3.9 lakh crore is possible by 2030 if EVs account for 40 per cent two-wheelers, cars and SUVs and 100 per cent commercial vehicles and three-wheelers.

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                                                                                                                                                  1. bet365 bonus code 2018 is also the world's third-largest emitter of carbon dioxide (CO2) at two million kilotons behind the US and China. In the national capital of Delhi, pollution due to particulate matter regularly exceeds the World Health Organization's limits by a factor of 7-12. More EVs means less carbon emissions.

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                                                                                                                                                        "It is a no-brainer that EVs are the future. I think that is well-established now," says Chetan Maini, Co-Founder and Vice Chairman, Sun Mobility who built bet365 bonus code 2018's first electric car, Reva, back in the 1990s. At Sun Mobility, Maini is working to establish a network of battery swapping infrastructure across the country. "An EV is even more suitable in high congestion cities and stop-go traffic conditions like we have in bet365 bonus code 2018," he says.

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                                                                                                                                                                          An EV is even more suitable in high congestion cities and stop-go traffic conditions like we have in bet365 bonus code 2018

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                                                                                                                                                                            Chetan Maini,
                                                                                                                                                                            Co-Founder and Vice Chairman, Sun Mobility

                                                                                                                                                                                  However, any new technology at the start comes at a price. EVs, too, cost more than their petrol and diesel counterparts. But with more EVs being produced, the cost of lithium-ion batteries that account for nearly 50 per cent cost of an EV is falling fast - over the last decade, prices have dipped from $1,000 per MW Hour to just over $150 per MWH. They are tipped to fall below $100 by 2023, making EVs as cheap as internal combustion engine vehicles.

                                                                                                                                                                                  On top of this, culmination of a number of local factors has provided a major tailwind for EVs in bet365 bonus code 2018. Till such time that EVs become affordable, the government has stepped in with a host of incentives under the umbrella FAME 2 Scheme. The level of incentives now on offer for EVs in bet365 bonus code 2018 are the highest ever - up to Rs 32,000 for electric two-wheelers, Rs 3 lakh for electric cars and Rs 35-55 lakh for buses. There is an additional income tax rebate on loans taken for buying electric cars.

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                                                                                                                                                                                                    1. States have granted more EV sweeteners. The new EV policy announced by the Delhi government last year, for example, offers additional subsidy of Rs 30,000 for two-wheelers and up to Rs 1.5 lakh for electric cars. It has been widely lauded as a template for other cities and states in the country. "It is a holistic policy that addresses the core challenges of subsidising the cost difference with respect to internal combustion engine vehicles by giving financial incentives on loans, creation of charging stations and skill creation. Covid-19 gave us a rare glimpse into clear skies and cleaner air. We believe that accelerating EVs will bring health, geopolitical and economic benefits to bet365 bonus code 2018," says Saurav Kumar, CEO & Founder, Euler Motors, a New Delhi-based EV start-up.

                                                                                                                                                                                                      The rise in prices of petrol and diesel that are at all-time highs also acts in favour of EVs. The running cost of an electric car is just Rs 1 per km compared to petrol's Rs 9 per km and diesel's Rs 6 per km. The savings offset the higher price of the vehicle, making EVs more attractive to consumers.

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                                                                                                                                                                                                              • "bet365 bonus code 2018's EV sector has been rapidly growing over the last three years as both Central and state governments have been taking initiatives to promote adoption of EVs," says Jeetender Sharma, MD & Founder, Okinawa Autotech. "The recent hike in fuel prices has further pushed consumers to look for alternatives such as EVs. We as a company aim to provide EVs that are on a par with internal combustion engine vehicles."

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                                                                                                                                                                                                                      In addition to these, there has been an increase in the number of players, which is helping on two counts - increasing options for consumers and creating awareness and countering myths regarding the new technology. The bulk of the action right now is in two-wheelers, believed to be a low-hanging fruit. Used mostly for shorter distances and intra-city travel, two-wheelers do not need big batteries, making them more affordable and faster to recharge. Most of the heavy lifting in the first few years was done by manufacturers like Hero Electric and Electrotherm. They were joined by a host of new age startups like Ather Energy, Revolt Motors, Okinawa, Ampere and Avan Motors expanding the options manifold for consumers.

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                                                                                                                                                                                                                                                            "The biggest thing is awareness and it is increasing every quarter. The market is much bigger now, which official numbers do not reflect, as it doesn't count low-speed two-wheelers that do not require registration. Our estimate is that it is already at 2,50,000-3,00,000 units," says Basavanhalli of Greaves Cotton. "Quarter on quarter, this industry as a whole has been growing significantly. People are still coming to terms with electric two-wheelers. There are concerns over charging infrastructure, which are being cleared, as two-wheelers can be charged at home. With growing awareness, numbers will grow."

                                                                                                                                                                                                                                                              Big conventional brands who were fence-sitters for long have also joined the fray. In 2019, TVS group launched its first electric scooter, iQube, in Bangalore and followed it up with Delhi in 2020. Bajaj Auto also threw in its hat in the ring with Chetak, marking its re-entry into the scooter segment all over again.

                                                                                                                                                                                                                                                                  In four-wheelers, the big mover was Tata Nexon EV last year, which lowered the price barrier for the segment and quickly became the largest-selling electric car in the country. Tata is planning to follow it up with an electric version of its premium hatchback, Altroz, later this year, which may open doors further. The luxury car segment also saw action with the launch of Mercedes EQC and, more recently, Jaguar iPace. Audi, BMW and Volvo are set to follow suit very soon.

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                                                                                                                                                                                                                                                                                Then there are the big movers in Ola and Hero MotoCorp that may boost the sector even further. On the four-wheeler side, the entry of Tesla could have a similar impact.

                                                                                                                                                                                                                                                                                  For a start-up, Ola's plans are so ambitious that they can put established players in the shade. It is investing Rs 2,400 crore to build a factory in Tamil Nadu that can produce two million electric scooters to begin with. It can be expanded to 10 million per annum. It bought Dutch startup Etergo last year. A significant part of the investment is for R&D. Its first offering will hit the roads by the middle of this year. It is also setting up 5,000 charging points in 100 bet365 bonus code 2018n cities, which will be ramped up to 400 cities and 1,00,000 charging points.

                                                                                                                                                                                                                                                                                  • "Electric is the future of mobility and we are reimagining the entire user experience," says Bhavish Aggarwal, Chairman and Group CEO, Ola. "Our plan to build a comprehensive charging network is a key piece of this. By creating the world's largest and densest two-wheeler charging network, we will dramatically accelerate adoption of EVs and rapidly shift the industry to electric."

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                                                                                                                                                                                                                                                                                                      Electric is the future of mobility and we are reimagining the entire user experience

                                                                                                                                                                                                                                                                                                            Bhavish Aggarwal,
                                                                                                                                                                                                                                                                                                            Chairman and Group CEO, Ola

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                                                                                                                                                                                                                                                                                                              bet365 bonus code 2018's largest two-wheeler maker, Hero MotoCorp, is also readying its first electric offering this fiscal. The company is all about scale. It is going about it meticulously, tying up with Taiwanese electric two-wheeler maker Gogoro to develop products and battery swapping stations. Last year, it had said it would invest Rs 10,000 crore this decade, a significant portion of which would be in EVs.

                                                                                                                                                                                                                                                                                                              "For the world and for us, the way forward is electrification. All our planning and strategy are based on our vision for the future of mobility. The future is all about partnerships and collaborations. We have set big targets for ourselves internally," says Pawan Munjal, Chairman and Managing Director, Hero MotoCorp.

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