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<ul><li><keyword id="20058929" type="General" weightage="100" keywordseo="Indian-Energy-Exchange" source="keywords" meta.keywordsubtype="org" meta.entityname="Indian Energy Exchange" meta.hostid="261" meta.entityid="Indian Energy Exchange">Indian Energy Exchange</keyword> recorded a 24% year-on-year growth in monthly volume in September 2024.</li><li>The electricity volume, including <keyword id="22675612" type="General" weightage="20" keywordseo="green-electricity" source="keywords">green electricity</keyword>, reached 10,332 MU.</li><li>India's <keyword id="20028292" type="General" weightage="20" keywordseo="energy-consumption" source="keywords">energy consumption</keyword> remained relatively stable at 141.3 billion units (BUs) in September 2024.</li></ul>Indian Energy Exchange (IEX), India's leading electricity exchange, experienced significant growth in September 2024 with a record monthly volume of 11,370 MU, representing a 24% year-on-year (YoY) growth. Electricity volume, including green electricity, reached 10,332 MU, reflecting a 21% YoY increase, while <keyword id="21681994" type="General" weightage="20" keywordseo="renewable-energy-certificates" source="keywords">renewable energy certificates</keyword> (RECs) doubled to 1,031 MU compared to the same period last year. The REC market witnessed a historic low price of ₹110 per certificate during a trading session, offering a favourable opportunity for obligated entities to meet their renewable purchase obligations and for voluntary customers to achieve sustainability goals. India's energy consumption remained relatively stable at 141.3 billion units (BUs) in September 2024, according to government data. A steady monsoon boosted hydro and wind power generation, leading to reduced prices in the Day-Ahead Market (DAM) and Real-Time Market (RTM). The Day-Ahead Market (DAM) witnessed robust growth, with volumes increasing 33% YoY to 4,610 MU in September 2024. Over the quarter, DAM registered 14,332 MU, a 27% increase compared to Q2FY24. Real-Time <keyword id="22699214" type="General" weightage="20" keywordseo="electricity-market" source="keywords">Electricity Market</keyword> (RTM) achieved its highest-ever monthly volume of 3,913 MU, a 34% YoY rise. RTM's quarterly volume reached 10,732 MU, up 31% YoY. In contrast, the Day-Ahead Contingency and Term-Ahead Market (TAM) experienced a decline, trading 1,086 MU in September 2024 and 2,684 MU during Q2FY25, down by 43% and 42% YoY, respectively. IEX's Green Market, comprising the Green Day-Ahead Market (G-DAM) and Green Term-Ahead Market (G-TAM), recorded an extraordinary 214% YoY increase, trading 723 MU in September 2024. The quarterly total for the Green Market stood at 2,584 MU, a massive 246% YoY growth. The REC market achieved a milestone with 1,031 MU traded in September 2024, a 100% YoY increase. The clearing prices for the two trading sessions on 11th and 25th September were ₹112/REC and ₹110/REC, respectively, the lowest-ever price since the market's inception. The quarterly total volume reached 6,297 MU, a remarkable 353% YoY growth. With inputs from ANI. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/september-auto-sales-automakers-report-a-decline-mahindra-and-mahindra-overtakes-tata-motors/articleshow/113925972.cms">September Auto sales – Automakers report a decline, Mahindra and Mahindra overtakes Tata Motors</a> <a href="https://www.businessinsider.in/business/auto/news/ola-electric-continues-to-lose-market-share-as-bajaj-auto-and-tvs-motor-gain/articleshow/113900252.cms">Ola Electric continues to lose market share as Bajaj Auto and TVS Motor gain</a> <a href="https://www.businessinsider.in/business/telecom/news/airtel-is-using-ai-powered-technology-to-block-spam-calls-and-messages/articleshow/113691942.cms">Airtel is using AI-powered technology to block spam calls and messages</a>

Indian Energy Exchange records 24% growth in September 2024

The electric vehicle (EV) market in India is evolving rapidly, and with the festive season approaching, many consumers are contemplating whether to wait for the usual <keyword id="23152657" type="General" weightage="20" keywordseo="festive-discounts" source="keywords">festive discounts</keyword> or take advantage of government incentives. One of the key schemes driving <keyword id="20421629" type="General" weightage="20" keywordseo="EV-adoption" source="keywords">EV adoption</keyword> has been the Faster Adoption and Manufacturing of Hybrid and <keyword id="19895203" type="General" weightage="20" keywordseo="electric-vehicles" source="keywords">Electric Vehicles</keyword> (FAME) initiative in 2015, which is transitioning to phase 2 in 2019. As per the recent announcement from the government, the government is replacing FAME II with a new scheme for the next two years. And no, it’s not FAME III! <h2><keyword id="23136597" type="General" weightage="100" keywordseo="PM-E-Drive" source="keywords">PM E-Drive</keyword> subsidy comes into effect</h2>The PM E-Drive subsidy aims to build on the success of previous versions, where over 16 lakh vehicles benefited from FAME 2. However, unlike its predecessor which included subsidies for passenger EVs, PM E-Drive has reportedly limited subsidies to only two-wheelers, three-wheelers, buses, hybrid ambulances and electric trucks. All in all, the scheme, with an outlay of Rs 10,900 crores, is expected to support 24.79 lakh electric two-wheelers, 3.16 lakh e-three wheelers, and 14,028 e-buses, along with a plethora of other features to improve the national e-mobility ecosystem. This also includes 22,100 fast chargers for e-4 Ws, 1800 fast chargers for e-buses and 48,400 fast chargers for e-2W/3Ws that will be set up in selected cities with high EV penetration and highways to allay the “range anxiety” of EV buyers. More specifically, Rs 3,679 crores have been provided to incentivise e-2Ws, e-3Ws, e-ambulances, e-trucks and other emerging EVs. These incentives are expected to help reduce the upfront cost of electric vehicles, making them accessible to a larger segment of the population. Additionally, state-run bus companies will likely see increased support, further boosting the public transport EV ecosystem.<div type="Article" hostid="261" msid="113282182" title="Automobile industry hails PM e-DRIVE scheme to promote EVs" mstype="2" mssubtype="0"></div>As a result, PM E-Drive will particularly benefit individuals and businesses looking for two- and three-wheelers, as well as state transportation corporations. Small businesses that rely on electric three-wheelers for deliveries or passenger services could also see significant savings, which can be reinvested into their operations. <h2>How does it compare to festival deals?</h2>While the <keyword id="20022183" type="General" weightage="20" keywordseo="government-subsidies" source="keywords">government subsidies</keyword> under PM E-Drive offer substantial savings, festival season sales from EV manufacturers can provide additional discounts and promotions, such as reduced down payments, lower interest rates, and free charging infrastructure. However, these discounts are often limited-time offers and might not match the long-term financial benefits provided by government subsidies. For example, if you’re in the market for a <keyword id="23152655" type="General" weightage="20" keywordseo="two-wheeler-EV" source="keywords">two-wheeler EV</keyword>, PM E-Drive incentives might be more valuable than a one-time festive discount of Rs 5,000 to Rs 10,000, based on the final discounts that automakers provide. Additionally, manufacturers sometimes adjust their prices before offering festival deals, potentially reducing the actual discount. On the other hand, FAME subsidies are fixed and directly reduce the vehicle's purchase cost. Therefore, if you're primarily looking at entry-level electric vehicles like scooters or bikes, PM E-Drive might offer a more substantial and stable financial benefit than waiting for festive discounts. <div type="Article" hostid="261" msid="113239075" title="Drivers are feeling better about EV range and charging infrastructure, but still aren&amp;#39;t ready to go electric" mstype="2" mssubtype="0"></div><h2>Should you buy now or wait?</h2>The decision to wait for the festival season or go ahead with the purchase largely depends on what you're looking for. If you're in the market for an electric two-wheeler or three-wheeler, the government subsidies under PM E-Drive — when they finally arrive — could be more beneficial than the temporary discounts during the festival season. However, if you're eyeing an electric car, especially a high-end one, the limited scope of PM E-Drive for passenger EVs might mean that festival offers provide better value. If you’re contemplating waiting for the festival season to purchase an electric two-wheeler, these festive offers could stack up alongside the PM E-Drive subsidies, if automakers integrate the scheme into their pricing by then. Festival deals may even provide additional perks such as easy EMI options and free service packages, which aren't typically covered under government schemes. Therefore, it's worth evaluating both festive deals and FAME subsidies to maximise savings. In conclusion, the launch of PM E-Drive brings a solid financial incentive to accelerate India's transition to <keyword id="20138204" type="General" weightage="20" keywordseo="electric-mobility" source="keywords">electric mobility</keyword>. Those considering two- or three-wheelers may want to act quickly as these subsidies roll out, while car buyers might want to weigh their options as the festive season approaches.

Waiting for the festive season to buy an EV? Cabinet approves PM E-Drive subsidising most EVs, sans electric cars

<ul class="summary-list"><li>Blue Bird Corp. is the best performing EV stock so far this year.</li><li>The bus manufacturer has seen a boom in its EV bus business thanks to a $5 billion government program.</li></ul>The best-performing electric vehicle stock is a little-known school bus maker. <a target="_blank" href="https://markets.businessinsider.com/stocks/blbd-stock?miRedirects=1">Blue Bird Corp.</a>, which has a market cap of about $2 billion, has started to diversify from its diesel and gas-power buses to electric, boosted by government funding.Shares of Blue Bird have surged 116% year-to-date, far outpacing other EV stocks, which are mostly down this year, including <a target="_blank" href="https://markets.businessinsider.com/stocks/tsla-stock?miRedirects=1">Tesla</a>, <a target="_blank" href="https://markets.businessinsider.com/stocks/rivn-stock?miRedirects=1">Rivian</a>, <a target="_blank" href="https://markets.businessinsider.com/stocks/lcid-stock?miRedirects=1">Lucid</a>, and a slew of Chinese EV companies.<div type="image" title="Electric vehicle stocks" height="694" width="894" msid="110746503" hostid="261" sizebytes="25322"></div>In its fiscal second-quarter earnings report released last month, Blue Bird said its revenue grew 15% year-over-year to $346 million, outpacing analysts' estimates by nearly $50 million, while its profits more than tripled to $0.89 per share.The school bus manufacturer sold a record 210 electric school buses in the quarter and said it had an order backlog of about 500 electric buses, with bookings soaring 56% from the year-ago period.Helping fuel Blue Bird's EV school bus business is the US Environmental Protection Agency's Clean School Bus Program, which was established in <a target="_blank" href="https://www.businessinsider.com/biden-laws-us-infrastructure-invest-funding-2024-3">the 2021 Bipartisan Infrastructure Law</a> and provides $5 billion in funding to replace diesel school buses with electrified buses.Electric school buses now make up 9% of Blue Bird's revenue, up from 6% last year, and is set to rise as funding from the EPA's EV school bus program continues to flow to districts looking to upgrade their fleet.A big benefit to Blue Bird is that electric school buses will significantly increase its average selling price and profit margins on the vehicles it produces.According to research from Barclays, an electric school bus can sell for more than $300,000 compared to just $100,000 for traditional school buses."This is an entirely different Blue Bird bus revenue and gross margin structure compared with just a year ago with bus prices up significantly," Blue Bird CEO Phil Horlock said on the company's most recent earnings call.Needham said in a note last month that it expects the growth of Blue Bird's EV business to continue."EV school bus growth is in the early innings. We expect continued strong demand as school districts compete for essentially free buses, with higher, known ASPs over a multiyear period allowing BLBD and industry peers time to drive costs lower before market prices take over," Needham analyst Chris Pierce said.Needham rates Blue Bird at "Buy" with a $52 price target.

The best-performing EV stock this year is a school bus manufacturer    

New Delhi, India's top oil firm IOC on Monday unveiled the nation's first <keyword id="18906554" type="General" weightage="20" keywordseo="green-hydrogen-powered-bus" source="Orion">green hydrogen-powered bus</keyword> that emits just water as it takes the lead in bringing out unrivaled tools to replace fossil fuels. Indian Oil Corporation (IOC) will produce close to 75 kg of hydrogen by splitting water using electricity from renewable sources. This hydrogen will be used to power two buses which will ply across the national capital region for trial runs. Oil Minister Hardeep Singh Puri, flagging off the buses, said hydrogen will be India's transition fuel for moving away from fossil fuels. IOC's R&amp;D Centre at Faridabad is producing green hydrogen for the pilot run. Four cylinders with a capacity of 30 kg can run the buses for 350 km. It takes 10-12 minutes for the four tanks to fill. Hydrogen when burnt emits only water vapour as a by-product. With three times the energy density and the absence of harmful emissions, hydrogen shines as a cleaner, more efficient choice to meet the energy requirement. As much as 50 units of renewable electricity and 9 kg of deionized water are needed for the production of one kilo of green hydrogen. Hydrogen can be used as a fuel for fuel cells. Puri said by the end of 2023, IOC will scale up the number of buses to 15. IOC will undertake operational trials of 15 fuel cell buses powered by green hydrogen on the identified routes in Delhi, Haryana, and UP. Under this programme, the first set of 2 fuel cell buses was launched on Monday. "Our government has ambitious plans on clean and green energy. India has taken many steps towards low carbon development- through emerging fuels like hydrogen and bio-fuels and shall account for 25 per cent of global incremental energy demand growth over the next two decades," Puri said. Upon the launch of the two buses, a cumulative mileage of more than 3 lakh kilometers will be covered for long-term assessment of performance and durability of the new technology. India has one of the largest synchronous grids in the world, capable of handling intermittent renewable energy and it has achieved 'One Nation-One Grid-One Frequency'. "With the low cost solar, synchronous grid, large demand and engineering, India will be a global champion in production and exports of hydrogen and is set to emerge as the hub for green hydrogen," he said. Puri said recently the world's first BS 6 (Stage II) Electrified Flex Fuel vehicle prototype was launched that encompasses both the flex fuel engine as well as an electric powertrain that offers higher use of ethanol combined with better fuel efficiencies. Hydrogen is deemed as the fuel for the future with immense potential to help India meet its decarbonization targets. The global demand for hydrogen is expected to increase by four to seven times to 500-800 tonne by 2050. Domestic demand is expected to increase by four times, from the current 6 tonne at present to 25-28 tonne by 2050. Oil and gas PSUs shall produce around 1 million tonne per annum of green hydrogen by 2030. "This green <keyword id="14355451" type="General" weightage="20" keywordseo="hydrogen-powered-bus" source="Orion">hydrogen-powered bus</keyword> is going to transform the face of city transport in the country. I shall be closely monitoring the project and wish you all the very best for successfully executing this project of national importance," he added. "The success of this project can catapult India from being a net importer of fossil energy to becoming a net exporter of clean hydrogen energy; and provide global leadership to other countries in terms of technology transfer while becoming a large green hydrogen producer and supplier of manufacturing parts."

IndianOil unveils India's first green hydrogen-run bus that emits just water

<keyword id="19923700" type="General" weightage="20" keywordseo="tata-power" source="keywords">Tata Power</keyword> on Saturday said it has collaborated with the <keyword id="19905539" type="General" weightage="20" keywordseo="ayodhya-development-authority" source="keywords">Ayodhya Development Authority</keyword> (ADA) to deploy charging points in and around the city on crucial routes to accelerate the adoption of <keyword id="19895203" type="General" weightage="20" keywordseo="electric-vehicles" source="keywords">Electric Vehicles</keyword> (EVs). The initiative strategically links <keyword id="6354931" type="General" weightage="20" keywordseo="Ayodhya" source="Orion">Ayodhya</keyword> with major cities nearby through the establishment of EV charging points. These points are situated along routes such as Ayodhya to Lucknow via National Highway (NH) 27, Ayodhya to Raebareli via NH 330, Ayodhya to Prayagraj via NH 330, and Ayodhya to Gorakhpur via NH 27, said the company. "These stations epitomise innovation and environmental stewardship and set the pace for our nation's journey towards Net Zero emissions. Together, we're shaping a sustainable tomorrow that benefits us all," said <keyword id="20372997" type="General" weightage="20" keywordseo="deepesh-nanda" source="keywords">Deepesh Nanda</keyword>, CEO and Managing Director, <keyword id="20372998" type="General" weightage="20" keywordseo="tata-power-renewable-energy-limited" source="keywords">Tata Power Renewable Energy Limited</keyword>. With more than 80,000 home chargers, 5,300+ public, semi-public and fleet charging points, and more than 850 bus charging stations, Tata Power said it is at the forefront of driving the transition towards environment-friendly transportation. "These charging points not only enhance our city's infrastructure but also herald a new era of eco-consciousness and progress," said Gaurav Dayal, Commissioner of Ayodhya. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/oneplus-12-review/articleshow/108723955.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-12-review/articleshow/108723955.cms" target="_blank">OnePlus 12 review: A feature-packed device with promising battery back-up</a><a href="https://www.businessinsider.in/tech/mobile/news/motorola-edge-50-pro-to-launch-in-india-on-april-3-everything-we-know-so-far/articleshow/108667275.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/motorola-edge-50-pro-to-launch-in-india-on-april-3-everything-we-know-so-far/articleshow/108667275.cms" target="_blank">Motorola Edge 50 Pro to launch in India on April 3 – Everything we know so far</a><a href="https://www.businessinsider.in/business/auto/news/jsw-group-and-saic-motors-jv-jsw-mg-motor-india-set-to-up-production-to-3-lakh-vehicles-a-year-with-a-new-car-every-3-6-months/articleshow/108647799.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/jsw-group-and-saic-motors-jv-jsw-mg-motor-india-set-to-up-production-to-3-lakh-vehicles-a-year-with-a-new-car-every-3-6-months/articleshow/108647799.cms" target="_blank">JSW Group and SAIC Motor’s JV ‘JSW MG Motor India’ set to up production to 3 lakh vehicles a year with a new car every 3-6 months</a>

Tata Power deploys EV charging points on key routes to Ayodhya

<ul class="summary-list"><li>Emma Echols, 68, lives frugally in Alabama on Social Security and income from part-time bus driving.</li><li>She gets $1,056 a month in Social Security and thinks she can't retire despite working since she was 12 years old.</li></ul>Emma Echols, 68, lives off $1,056 a month in <a target="_blank" class="" href="https://www.businessinsider.com/boomer-lives-on-social-security-works-walmart-retirement-savings-2024-7">Social Security</a> and a part-time bus driver job in Alabama. She said she may <a target="_blank" class="" href="https://www.businessinsider.com/retirement-peak-boomer-alice-social-security-masters-degree-student-loans-2024-5">never retire</a>, but she's not too worried.Echols has worked since she was 12, working as a chef, a convenience store general manager, and a bus driver. Throughout her life, she's rarely been financially stable, though she's kept bills down by <a target="_blank" class="" href="https://www.businessinsider.com/avoiding-blackout-shopping-saving-money-frugal-living-youtuber-finances-2024-4">living frugally</a> and giving to others when she's able.Though it's unlikely she can <a target="_blank" class="" href="https://www.businessinsider.com/boomer-no-college-degree-cant-retire-get-job-social-security-2024-5">step away from work</a> anytime soon, she's stayed active in her community to help others in worse situations than her. Still, she feels people like herself should get more retirement benefits and respect."I've always worked for what I needed or wanted, with no public or government assistance, but people who have not worked have very nice housing," Echols said. "Our world is confused. They reward the ones who will do nothing, who do not pay their bills on time, and not those who are school teachers who gave the system 50 years of their lives. I know teachers who knew exactly how many times a month they could wash their clothes to maintain their electric bills."Millions of Americans at or approaching the typical retirement age of 65 lack the savings to quit working. Dozens of older Americans have <a target="_blank" class="" href="https://www.businessinsider.com/uber-lyft-retirement-social-security-worth-it-tips-minimum-wage-2024-7">told Business Insider</a> this year they can't retire, as some estimates say retirees need <a target="_blank" href="https://www.businessinsider.com/how-much-money-do-i-need-for-retirement-gen-x-2024-4">well above a million dollars</a> to retire comfortably. This is particularly out of reach for the more than half of Americans over 65 making <a target="_blank" href="https://www.businessinsider.com/retirement-crisis-social-security-poverty-older-americans-savings-inequality-2024-3">under $30,000</a> a year, according to the Census Bureau's Current Population Survey.While Echols said she wouldn't know what to do with over $1 million, getting more than $1,000 a month from the government would go a long way.<h2 id="7739e19c-a56b-41e0-bba6-7606331ed175">Working her whole life but struggling</h2>Echols got her first job at 12 as a babysitter, and at 14, she served soda and popcorn at a drive-in theater. Almost six decades later, she hasn't stopped working since."I always wanted to earn my own money," Echols said. "I always wanted to work, and at the age of 14, someone started my Social Security records for me. I waited 45 years to get that paycheck."She worked as a chef at a seafood restaurant for over a decade, putting her in a "very good income bracket." At 27, she enrolled in community college but didn't graduate.She switched to another company for nine years making <a target="_blank" class="" href="https://www.businessinsider.com/uber-lyft-doordash-drivers-earn-below-minimum-wage-tips-study-2024-5">minimum wage</a> — $3.35 at the time — then got a new position as a convenience store assistant manager paying over $11 an hour, though she was later laid off. She acknowledges she — and others in her generation — should have been more informed about saving and investing strategies.Over two decades ago, she got a job as a bus driver making about $9 an hour, though this increased over the years to about $26 an hour. She also gets health benefits and is building a pension."Before my rate went up, I didn't even make enough money to be able to pay $500 to $600 a month in <a target="_blank" class="" href="https://www.businessinsider.com/housing-crisis-unaffordable-high-rent-prices-cost-burdened-renters-cities-2024-7">rent</a>," Echols said. "I have good income at my part time position where I have good benefits, but I understand the struggle for all senior citizens. For federal government housing, they do not want you to have more than $1,500 a month in income to qualify for one of their houses or apartments."<h2 id="52e53e7d-0f93-44c8-b29a-70b77cbd0c14">Living frugally and selflessly</h2>Her monthly expenses are $500 for rent with an extra water and garbage bill, $95 for phone and internet, almost $500 for her car payment, $89 a month on car and renters insurance, and about $300 for transportation expenses. She rarely eats out, and she tries to avoid spending on meat to cut back on costs. She's saving up for new tires and car maintenance fees that can cost $400."I <a target="_blank" class="" href="https://www.businessinsider.com/planned-retirement-until-discovered-fire-2024-04">live frugally</a>, and I purchase only what I need," she said. "I've always been a clearance rack shopper, even some thrifting."She rarely spends on entertainment, occasionally seeing a $5 movie near her home. She tries to stay healthy to avoid added medical costs, and she's kept her furniture and clothes purchases minimal.She's gearing up to move from her duplex in the suburbs to an efficiency apartment in her city to reduce her transportation and car insurance expenses, as she can walk to work.Her <a target="_blank" class="" href="https://www.businessinsider.com/boomer-waiting-collect-social-security-higher-benefit-retirement-no-savings-2024-7">Social Security</a> is $1,056 a month, a 25% reduction from her potential full benefit because she accepted payments early. She said it helps her cover rent and some other expenses, though she said she must work to supplement other costs and plan for her future. She has very little debt."People my age, we worked during a time when incomes were low, and I know people whose Social Security is $1,400, $1,500 a month, and it's not enough for them to live," Echols said. "I don't see myself being able to retire, but I'm grateful and healthy."She said two of her sisters are in nursing homes, while her other two sisters have health issues. She gives gifts to family members when she can and tries to help them financially if she has money left over.Echols also said some of her friends are dealing with similar situations, as many live on a fixed income and are struggling to pay all their bills.She said religion has empowered her to continue giving what she has to help others in even worse situations, as she believes she will be repaid for her efforts and will never be homeless. If she had more money, she said she would use it to start a program to assist other women in difficult financial situations."I've never been a worrier, because in spite of what our world looks like, what's going on in the world, I truly believe that God has the final say," Echols said.Are you worried about retirement? Reach out to this reporter at <a target="_blank" href="mailto:nsheidlower@businessinsider.com">nsheidlower@businessinsider.com</a>.

A boomer gets just $1,056 a month in Social Security and works as a bus driver: 'I don't see myself being able to retire, but I'm grateful and healthy'

<ul><li><keyword id="9349591" type="General" weightage="100" keywordseo="blusmart" source="Orion">BluSmart</keyword> is poised to double its fleet by the end of the year and aims to have over 1,00,000 EVs on its platform by 2025.</li><li>Back in 20221, <keyword id="15125737" type="General" weightage="20" keywordseo="Jio-BP-and-BluSmart" source="Orion">Jio-BP and BluSmart</keyword> joined hands to set up EV charging stations in India.</li><li>BluSmart has the largest fleet of electric cabs and the largest network of EV fast charging stations across Delhi NCR, according to the company.</li></ul>As India rides on the EV bandwagon with the government promoting several use cases, BluSmart is poised to double its fleet by the end of the year and aims to have over 1,00,000 EVs on its platform by 2025. Rishabh Sood, CTO, BluSmart, told IANS that from a charging infrastructure perspective, both state and central government responses have been great and have floated many projects on a PPP basis. With the ever-growing customer base, Sood added, it is imperative to have BluSmart's services up and running with zero downtime and for this, the startup relies on various AWS services to build a strong foundation. Here are the excerpts from an interview: Q: What is BluSmart's USP? How do you differentiate yourself from other players in the <keyword id="6744459" type="General" weightage="20" keywordseo="EV-fleet" source="Orion">EV fleet</keyword> landscape? A: BluSmart is the only ride hailing service in the country that ensures zero emission, zero surge and zero ride denials to its customers and zero financial investment from its driver partners. We believe the source of our sustainable competitive advantage is that we have built multiple small MOATs around various parts of the business, which are collectively keeping us ahead of the curve. On the customer end, by solving for the core issue of hassles of ride booking, cancellations, surge and unclean cars we have been able to build a very loyal customer base. This hassle free experience of zero surge, zero cancellation and clean cars with courteous drivers being achieved every day repeatedly is starting to become a habit. On the driver end, by solving for the core issue of driver partners' inability to buy, own and maintain assets, we have been able to build loyalties on the drier partner side, which is immensely important since they are the brand custodians on the roads and are the ones who uphold the brand promise every time. On the technology side, by solving for the core issue of "fuel being a constraint" with EVs as against ICE powered vehicles where the ride-hails tech historically has not been required to worry about the fuel inside the car. Building a technology backend which is born electric and takes a full stack approach towards solving for ride matching at scale where no human is required to take decisions and the technology optimally guides the drivers right from picking up customers to reaching the nearest EV charging stations when running out of charge. On the partner ecosystem side, by solving for the core issue of having partners who have a purpose and a vision that feeds into each other's ambitions. Having partners like BP Ventures who come with the right global experience around energy and team building. Having partners like JioBP, which is a JV between Reliance and BP in India and having the backing of the largest enterprise in India in building more EV charging infra. Having partners like Tata Motors, who have decades of experience in automobiles and have taken the right stand when it comes to EVs and is able to support the growth ambitions of BluSmart. Q: For India to achieve its vision of reducing emission intensity by 45 per cent by 2030 and reach the net-zero target by 2070, EV would have to go mainstream. What are some of the biggest roadblocks you see today in India, be it in the manufacturing, EV financing, regulatory and policy landscape? A: The country has faced supply and delivery challenges in the past in getting EVs from leading OEMs around the country due to the semiconductor chip crisis in the past 3 years. Since, the supply chain and semiconductor issues have now started to relax, we are seeing an accelerated movement towards vehicle production and delivery. We believe that the manufacturing of EVs needs to be scaled up massively to support the increased adoption of EVs which in turn will lead to economies of scale. Also entry of established players into the EV industry will provide a variety of options to the common man. From a charging infrastructure perspective, both state and central government response have been great and have floated many projects on a PPP basis. We have also partnered up with giants such as Jio BP to help our expansion plans and create more charging infrastructure. Ramping up of charging infrastructure will play a key role in achieving net zero emission. Q: Tell us about the scale of your operations/size of EV fleet in India and your projected growth trajectory over the next 5 years? A: BluSmart currently operates an electric fleet of 2,200+ EVs on its platform. BluSmart Mobility is the most preferred mode of public transportation across Delhi NCR having completed 2.5 million+ all electric trips, covering over 86 million+ clean kms with over 900,000+ app downloads with an app rating of 4.9 out of 5.0 in the last year. It has the largest fleet of electric cabs and the largest network of EV fast charging stations across Delhi NCR. On September 26, 2022, BluSmart expanded geographically and started its operations in Bengaluru as its second city. BluSmart is poised to double its fleet by the end of the year and aims to have over 1,00,000 EVs on our platform by 2025. Q: What has AWS and cloud technology enabled you to do better? A: AWS is our trusted cloud partner for its feature rich and highly performant ecosystem of diversified services. With the ever growing customer base, it is imperative to have BluSmart's services up and running with zero downtime and this is where Amazon CloudWatch helps to preemptively learn metrics breach and remediate the same automatically. BluSmart uses Amazon Aurora, which is designed for exceptionally high performance and availability at a global scale with full MySQL and PostgreSQL compatibility. We adopted Aurora because it gives us the ability to manage our data at a large scale without having to deal with maintenance and optimizations at our end. At BluSmart every decision we make is driven by data hence we wanted a petabyte-scale data warehouse service that makes it simple and cost-effective to efficiently analyze data using existing business intelligence tools therefore we decided to go with Amazon Redshift as it provides constant monitoring of operations, logs, auditing, and traceability. We discovered key improvements in cost and performance for improving speed to market and operational efficiency. During our peak demand periods, we rely on AWS Autoscaling to handle high surge in requests by scaling containers and Database read replicas to provide seamless and elated customer experience. We at BluSmart are focused on the security of our data, infrastructure and resources and we rely on various AWS security services to build a strong foundation. We will continue to explore further on AWS in the future, adding new features and capabilities along the way. Q. In terms of business outcomes, what benefits have you experienced because of running on AWS? Please provide metrics where applicable: A: We have been able to bring efficiency in handling the demand and process performance by reducing the effort of self managing and monitoring the infrastructure. Without having to spend time on infrastructure engineering, developers are able to focus on the core product development which helps us reach the market faster. Usage of autoscaling to handle the load of peak and non peak demands efficiently by dynamic scaling up and scaling down of cloud infra on an intraday basis provided a significant cost advantage over maintaining a dedicated infra for peak loads. Further, periodic snapshots, data replication and disaster recovery strategy helps us mitigate data and infrastructure risks. 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BluSmart to set up EV charging infra projects across India in PPP mode

<ul><li><keyword id="42747" type="General" weightage="20" keywordseo="tata-motors" source="Orion">Tata Motors</keyword> will operate and maintain Tata Starbus for a period of 12 years, as per the contract.</li><li>Tata’s Starbus is developed for sustainable and comfortable travel.</li><li>Earlier, Tata Motors received orders for 1,500 electric buses from Delhi Transport Corporation (DTC) and 1,180 electric buses from West Bengal Transport Corporation (WBTC).</li></ul>Tata Motors on Thursday bagged an order to supply 921 electric buses to the Bengaluru Metropolitan Transport Corporation (<keyword id="6371543" type="General" weightage="20" keywordseo="bmtc" source="Orion">BMTC</keyword>). Tata Motors will supply, operate and maintain the 12-metre Tata Starbus for a period 12 years, as per the contract. Tata Starbus is an indigenously developed vehicle that is designed for sustainable and comfortable travel. G. Sathyavathi, Managing Director, BMTC, said, "This order is paramount for Bengaluru's growing need for clean and sustainable urban mass mobility. BMTC is happy to induct modern electric buses that will attract maximum ridership for eco-friendly public transportation." This is the third biggest order that Tata Motors has bagged from a state government in the last one month. Earlier, Tata Motors received orders for 1,500 electric buses from Delhi Transport Corporation (DTC) and 1,180 electric buses from West Bengal Transport Corporation (WBTC). Rohit Srivastava, Vice President (Product Line - Buses), Tata Motors, said, ‘We have been at the forefront of developing smart, modern and energy efficient commercial passenger vehicles, catering to the needs of future mobility. We are confident that these environment-friendly electric buses will be beneficial for the residents of Bengaluru.’ SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/new-maruti-suzuki-alto-k10-brings-premium-suv-features-in-a-compact-car/slidelist/93636927.cms">New Maruti Suzuki Alto K10 brings premium SUV features in a compact car</a> <a href="https://www.businessinsider.in/science/research/news/this-herb-is-the-magic-fertilizer-needed-to-grow-vegetables-on-mars/articleshow/93635777.cms">This herb is the magic fertilizer needed to grow vegetables on Mars</a>

Tata Motors bags a 921 e-bus contract from Bengaluru Metropolitan Transport Corporation

<ul class="summary-list"><li>Josh and Emily Scherrer live and work full-time from their converted school bus, Aurora.</li><li>They spent $80,000 on the conversion and the largest expenses now are insurance, fuel, and internet.</li></ul>For the past two years, husband-and-wife duo Josh, 27, and Emily Scherrer, 28, have lived in and worked full-time from their "<a target="_blank" href="https://www.businessinsider.com/i-bought-old-school-bus-turned-it-into-skoolie-airbnb-2022-12">Skoolie</a>," a converted school bus nicknamed "<a target="_blank" href="https://www.instagram.com/aurora.theadventurebus/">Aurora the Adventure Bus</a>."When they first met, they bonded over their love of travel and used all of their PTO to take <a target="_blank" href="https://www.businessinsider.com/solo-road-trip-tips-us-how-to-plan-2024-1">road trips</a>. When Josh Scherrer started a fully remote job in late 2020, the couple started thinking about working and living on the road.They purchased the bus in January 2021, and last fall, they bought a piece of land in Idaho that they'll live on once they're finished traveling.For now, the couple works remotely as engineers from Aurora while traveling full-time. Here's how they keep up with their <a target="_blank" href="https://www.businessinsider.com/digital-nomad-lifestyle-lessons-drawbacks-challenges-2023-8">nomadic lifestyle</a>.<h2>Skoolie vs converted van</h2><div type="image" title="a woman next to a school bus" height="3024" width="4032" msid="107883468" hostid="261"></div>The couple bought their bus for $7,000 from a company that sells used school buses for conversions in Phoenix. Emily Scherrer was inspired to purchase a <a target="_blank" href="https://www.businessinsider.com/photos-family-tiny-home-roof-school-bus-diy-space-kids-2023-9">Skoolie</a> from posts she saw on Instagram.They considered a <a target="_blank" href="https://www.businessinsider.com/airstream-new-camper-van-rv-almost-200000-photos-2023-9">camper van</a>, but a school bus was more affordable upfront and provided more space. "It fits us much better because we need two separate offices, and a 40-foot bus provides that space," Josh Scherrer told Business Insider.The conversion took them about a year and a half to finish. "We didn't hire anything out, and we did it all while still working full-time. Converting Aurora was our evenings and weekends project," he said.<div type="image" title="a kitchen on a bus" height="2268" width="3024" msid="107883470" hostid="261"></div>They spent about $80,000 on the conversion, which Emily Scherrer says is on the high end. "A lot of other Skoolie owners spend between $20,000 and $50,000," she told Business Insider. "It comes down to what you want your finishes to be."The most expensive thing they bought was the automotive paint. The Maple millwork for the ceiling and <a target="_blank" href="https://www.businessinsider.com/people-saving-money-on-energy-bills-by-installing-solar-panels-2022-10">solar panels</a> for the roof were also pricey."The solar was non-negotiable, as we wanted to make sure we had plenty of electricity for us to both work remotely," she said.<div type="image" title="a bed on a bus" height="2268" width="3024" msid="107883471" hostid="261"></div><h2>Bus life isn't as cheap as they expected</h2>The Scherrers don't save as much as they thought they would by <a target="_blank" href="https://www.businessinsider.com/family-live-off-grid-tiny-house-2024-2">living tiny</a>, but they are collecting experiences. "We don't have to pay for plane tickets or hotels, so we can experience more for our money," Emily Scherrer said. So far they've taken the bus to Alaska, New Mexico, Texas, and Colorado.Their biggest expenses are car insurance (about $1,850 a year), diesel fuel, and satellite internet connection, which is $150 a month and is necessary for their jobs. Filling up the tank costs about $300; on average, they fill up once or twice a month.<h2>They have ways to cut down on costs</h2>One cost that's in their control is where they park."Our expenses depend on where we park and the amenities we find," Emily Scherrer said. The southwestern US has a lot of land available for public use, such as BLM or Forest Service land, where parking for certain days is free."We like to use that kind of land versus going to <a target="_blank" href="https://www.businessinsider.com/guides/travel/best-us-campsites">campgrounds</a>, which saves us a lot of money," she said.They also pay to fill up and dump their tanks, usually as a campground fee. There's a toilet and a shower on the bus, and the septic tanks must be dumped roughly every two weeks.<div type="image" title="a bathroom on a bus" height="2268" width="3024" msid="107883474" hostid="261"></div>Another way they save money is by being mindful of their mileage. "It's a fairly affordable lifestyle if you don't intend to put a lot of miles on your vehicle," Josh Scherrer said.Driving to Alaska cost the couple roughly $2,000 in fuel, but parking down south for the winter is very affordable.They have a small emergency fund for mechanical issues, but he does most of the service himself.<h2>Working full-time while traveling is how they sustain their lifestyle</h2><div type="image" title="a couple takes a selfie with a school bus" height="2316" width="3088" msid="107883477" hostid="261"></div>The couple loves that they can earn a reliable income from their jobs while accomplishing other life goals at the same time.They plan to live in their Skoolie for at least a few more years before building a home on their land in Idaho. "We haven't saved too much, but we've experienced more than we thought. Being able to <a target="_blank" href="https://www.businessinsider.com/reasons-to-travel-in-your-20s-2018-3">travel in our 20s</a> has been really fun," Josh Scherrer said.They don't plan to sell the Skoolie when they finish living in it. "We'll keep the bus so we can take trips when we want," he said. They may still do winters in the south on the bus to avoid winter blues in Idaho.

A couple bought a $7,000 school bus and converted it into their dream home. See inside the 40-foot Skoolie.

<ul><li>Companies manufacturing electric buses including Ashok Leyland, JBM Auto, Olectra Greentech have gained a lot of momentum with the government’s plan towards reducing carbon emissions.</li><li>Shares of these companies have skyrocketed up to 830% in the last one year as investors spot emerging opportunities in the electric vehicle businesses.</li><li>The latest development in the EV space is a $1 billion investment in automaker Tata Motors by private equity firm TPG.</li></ul>As India moves towards its plan to reduce carbon emissions, companies that are into electric vehicle (EV) manufacturing are becoming the front runners in the zero carbon race. Even investment firms are shifting some of their funds towards companies aiding the government to tackle the climate crisis and make a smooth transition towards electric vehicles. The latest development in this regard is the <a href="https://www.businessinsider.in/business/auto/news/tata-motors-gets-a-billion-dollar-investment-from-tpg-group/articleshow/86966522.cms">$1 billion investment</a> in automaker Tata Motors by private equity firm TPG. Moreover, state governments are inviting tenders to buy electric buses for public transport facilities. This gives a strong order push to companies manufacturing electric buses like Ashok Leyland, JBM Auto, Olectra Greentech, Tata Motors and Eicher Motors. Shares of these companies have skyrocketed up to 830% in the last one year as investors spot emerging opportunities in the electric vehicle space. While India is among the world's most polluted cities, the government has been pushing automakers to switch to EVs to promote clean air and reduce costly oil imports. Recently, Maharashtra environment minister Aaditya Thackeray <a href="https://twitter.com/AUThackeray/status/1447139828936499207?ref_src=twsrc%5Etfw">announced </a>that Mumbai’s entire public transport buses will go electric by 2028. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[ ]]></cdata></div> Public buses getting replaced by <keyword id="1310333" type="General" weightage="20" keywordseo="electric-bus" source="Orion">electric bus</keyword>es bring a huge opportunity for these few electric bus makers in the country. Under its EV Policy 2021, the Maharashtra government has embarked on a vision to electrify public transport in Mumbai and other cities including Pune, Nagpur, Nashik, Aurangabad and Amravati. Meanwhile, the Karnataka government is all set to acquire 1,500 electric buses in the next three years. Ashok Leyland <div type="image" title="ashok leyland" height="900" width="1200" msid="87021886" hostid="261"></div> The company manufactures automobiles, commercial vehicles, and engines. In 2016, Ashok Leyland debuted its first electric bus. Recently, Ashok Leyland won the Bangalore Metropolitan Transport Corporation tender for 300 non-air conditioned electric buses. JBM Auto <div type="image" title="JBM auto chart" height="900" width="1200" msid="87021904" hostid="261"></div> The Gurugram-based automaker was founded in 1996 with JBM Auto being the flagship company of JBM Group. The company has diversified into bus manufacturing with an aim to become a globally benchmarked producer of modern intra-city buses. Last month, the company received orders for 500 electric buses and some compressed natural gas (CNG) buses from Delhi, Bengaluru and Uttar Pradesh along with other corporate clients. Besides, it will also be supplying electric buses for Bengaluru Metropolitan Transport Corporation (BMTC). Olectra Greentech <div type="image" title="olectra greentech" height="900" width="1200" msid="87021947" hostid="261"></div> The Hyderabad-based electric bus and insulator manufacturing company Olectra Greentech is among the leading players in the space. The company has a healthy order book for 1,325 e-buses out of which 87 buses are already delivered. It made a profit of ₹5.65 crore in the June quarter compared to ₹3.26 crore loss in the same quarter last year. Besides, the company’s stock has created immense wealth for investors in the last one year as it surged over 800%. Tata Motors <div type="image" title="tata motors chart 2" height="900" width="1200" msid="87021969" hostid="261"></div> Tata Motors seems to be ahead of everyone with its latest $1 billion investment from US based private equity TPG for electric vehicle business. In August, the company delivered 35 Starbus electric buses, as a part of the larger order of 340 electric buses to Maharashtra’s transport department. Eicher Motors <div type="image" title="eicher motor" height="900" width="1200" msid="87021986" hostid="261"></div> In 2008, Eicher Motors collaborated with Volvo Group for selling trucks and buses under company name VE Commercial Vehicles. The company debuted with an EV bus named “Skyline Pro” in 2018. Since then, the company has been actively participating in tenders floated by various state transport undertakings and other government agencies. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/nykaa-gets-sebis-approval-for-4000-crore-ipo/articleshow/87019734.cms">Nykaa gets SEBI’s approval for its ₹4,000 crore IPO; raises fresh issue size by over ₹100 crore</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/zee-invesco-saga-punit-goenka-speaks-up-for-the-first-time-asks-if-corporate-governance-doesnt-apply-to-institutional-investors/articleshow/87019547.cms">Zee-Invesco saga: Punit Goenka speaks up for the first time, asks if corporate governance doesn’t apply to institutional investors</a>

Electric bus makers on a roll as states like Maharashtra and Karnataka send in large orders

<ul><li>Olectra Greentech is the largest <keyword id="12313326" type="General" weightage="20" keywordseo="electric-bus-maker" source="Orion">electric bus maker</keyword> in India. </li><li>It is a Hyderabad-based company and had recently announced setting up a massive 150-acre manufacturing facility to fulfill its growing order book. </li><li>Over the next year, the company says it plans to start manufacturing electric trucks, in addition to three-wheelers and buses. </li></ul>Hyderabad-based Olectra Greentech has quietly made its shareholders rich over the past year. An investment of ₹10,000 in the company exactly 12 months ago is now worth ₹67,000, which is a handsome return regardless of any other factor. Shares of Olectra Greentech were marginally up today (January 4) as of 12:30 p.m. <div type="image" title="Olectra Greentech 01_01_21 to 04_01_22." msid="88685123" hostid="261" caption="&amp;lt;p&amp;gt;Olectra Greentech share price over the past 12 months&amp;lt;/p&amp;gt;"></div> <cmsannotation type="cmsannotation" annotationid="What does Olectra Greentech do?" comment="subhead" text="What does Olectra Greentech do?">What does Olectra Greentech do?</cmsannotation> Olectra Greentech is the largest manufacturer of electric buses in India, with a market share of around 40%. It has been making electric buses in partnership with BYD, China’s largest electric vehicle maker. In December 2020, the company <a href="https://economictimes.indiatimes.com/industry/renewables/olectra-greentech-to-set-up-indias-biggest-electric-bus-factory-with-10000-units-capacity/articleshow/88211313.cms">announced</a> that it is setting up a massive electric vehicle manufacturing plant on the outskirts of Hyderabad, with an initial outlay of ₹600 crore and a capacity of 10,000 units. The plant will be set up on a sprawling 150-acre land. At the time of the announcement, Olectra also revealed that it is currently in the process of fulfilling orders for 2,000 electric buses, which is worth ₹3,000-3,500 crore. <cmsannotation type="cmsannotation" annotationid="Why is Olectra Greentech’s share price surging?" comment="subhead" text="Why is Olectra Greentech’s share price surging?">Why is Olectra Greentech’s share price surging?</cmsannotation> <keyword id="6354973" type="General" weightage="20" keywordseo="electric-vehicles" source="Orion">Electric vehicles</keyword> are the buzzword today, and there’s more than one reason for this. For the government, it’s about reducing the reliance on crude oil imports and pollution, and for the common man, it’s about reducing the impact of perennially rising petrol and diesel prices. As an investor, this presents a great opportunity to bet on stocks and companies which are into innovative battery technologies, or supply components for electric vehicles. We have seen a few companies like Sona Comstar make a blockbuster debut on the stock exchanges, making the most of the IPO boom and the growing interest in electric vehicles. But more than the idea of electric vehicles, Olectra Greentech’s strong fundamentals have played a big role in the company’s shares delivering multifold returns in the past year. Here’s how the company’s financials look like over the past five years: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">2016-17 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">2017-18 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">2018-19 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">2019-20 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">2020-21 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹104 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹161 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹170 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹200 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹281 crore </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Net profit </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹8 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹8 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">-₹15 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹13 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹8 crore </td></tr></tbody></table> Source: Company reports <cmsannotation type="cmsannotation" annotationid="What does the future hold for Olectra Greentech?" comment="subhead" text="What does the future hold for Olectra Greentech?">What does the future hold for Olectra Greentech?</cmsannotation> At the moment, Olectra’s chairman KV Pradeep says that the company has submitted bids for tenders for 6,000 more buses. Just yesterday, the company announced that it has won a bid for supplying 50 electric buses to a government transport authority. But the company is also looking beyond just electric buses – it has teamed up with a truck maker to develop electric trucks, with plans to start manufacturing them in 2022-23. Pradeep also mentions that the company is not reliant on BYD for technology anymore, thanks to an in-house research and development department. The new 150-acre manufacturing facility will be used for manufacturing electric buses, trucks and three-wheelers, the company said. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/infoedge-and-zomatos-deepinder-goyal-invested-money-in-geniemode-10-month-old-tech-startup/articleshow/88683920.cms">After Deepinder Goyal and Kunal Shah, Info Edge backs this 10-month-old tech startup</a> <a href="https://www.businessinsider.in/business/corporates/news/saffola-parachute-oil-maker-marico-sees-poor-demand-from-customers-amid-high-inflation/articleshow/88682276.cms">Marico is paying the price for rising inflation because its buyers aren’t able to</a> <a href="https://www.businessinsider.in/tech/news/this-smart-collar-lets-you-track-your-dogs-health-and-location/articleshow/88681461.cms">This smart collar lets you track your dog’s health and location</a>

Shares of this electric bus maker have surged 540% in the last 12 months

The Indian government will come out with a "<keyword id="1708150" type="General" weightage="60" keywordseo="payment-security-mechanism" source="Orion">payment security mechanism</keyword>" to support large-scale rollout of electric buses as it eyes a major transition towards green public transport across the country, <keyword id="184951" type="General" weightage="80" keywordseo="tarun-kapoor" source="Orion">Tarun Kapoor</keyword>, advisor to the Prime Minister at the <keyword id="6365387" type="General" weightage="50" keywordseo="pmo" source="Orion">PMO</keyword>, said on Thursday. He also emphasised on the need to bring down the cost of electric vehicles to accelerate their adoption. While the government will continue to provide subsidies like those being offered under the <keyword id="7723547" type="General" weightage="70" keywordseo="fame-ii-scheme" source="Orion">FAME-II scheme</keyword> because the price difference is huge and it has to be bridged, "we have to look at ways and means to bring down the price also, because government subsidy cannot be forever", he said, while addressing an <keyword id="1668995" type="General" weightage="20" keywordseo="assocham-conference" source="Orion">Assocham conference</keyword> on electric mobility here. Kapoor highlighted the need to be "a little more serious" in battery manufacturing "because we can't depend on imports". He said while China has taken the lead on lithium-ion batteries, India can catch up very fast and the government is looking at the entire ecosystem. He cited the example of the Mines and Minerals (Regulation and Amendment) Bill passed by Parliament in the ongoing session, which seeks to allow larger participation of the private sector in mineral exploration and production, including that of lithium. Kapoor said a "payment security mechanism" is being established after feedback was received about the difficulties in obtaining lending by financial companies. "Something major and very good is already planned and it will come out. So we should be able to roll out a large number of electric buses all over the country," he said.

New payment security mechanism to support large-scale e-bus rollout in the works

<ul class="summary-list"><li>The <keyword id="12479799" type="UNKNOWN" weightage="60" keywordseo="volkswagen-bus" source="Orion">Volkswagen bus</keyword>, an icon of the 1960s and 1970s, is coming back as an electric model. </li><li>VW just offered a peek at what the production version will look like. </li></ul><keyword id="12153707" type="UNKNOWN" weightage="60" keywordseo="volkswagen" source="Orion">Volkswagen</keyword> has said for years that it plans to reinvent the <a href="https://www.businessinsider.com/vintage-volkswagen-bus-van-life-how-much-is-vw-transporter-2021-9">legendary Microbus</a> as an electric vehicle called the ID.Buzz. We've seen renderings and concept vehicles, but now VW is showing off what looks like the real thing. During an online presentation revealing the Europe-only ID.5 SUV, VW gave the audience a glimpse of the ID.Buzz. In the <a href="https://www.youtube.com/watch?v=MALzDAOojhc">video</a>, screenshotted above, the ID.Buzz wears a colorful, abstract paint job that could be a callback to the Microbus' hippie roots. VW also recently posted a new photo of the ID.Buzz to its commercial vehicles website. <div type="image" title="Volkswagen ID.Buzz." height="1406" width="1875" msid="87554570" hostid="261"></div>The near-production van retains some of the elements of the ID.Buzz concept like its slim headlights, stubby overall shape, and a front-end design that's a clear throwback to the <a href="https://www.businessinsider.com/vw-microbus-launching-in-2022-will-have-big-updates-2018-1">classic Microbus</a>. But the van seen here gains side-view mirrors and door handles - things that are necessary for an actual production vehicle.<div type="image" title="VW ID Buzz concept" height="1494" width="1992" msid="87554573" hostid="261"></div>VW showed off the ID.Buzz in September in the form of a prototype vehicle built through a partnership with autonomous-driving startup Argo AI. (The two companies are <a href="https://www.businessinsider.com/vw-26-billion-investment-argoai-ford-first-vehicle-id-buzz-2020-6">teaming up</a> to eventually offer autonomous taxis and other services). But that vehicle had all sorts of sensors and gizmos attached to it. <div type="image" title="Volkswagen ID.Buzz Argo AI prototype." height="1366" width="2048" msid="87554576" hostid="261"></div>VW says it'll release more information about the ID.Buzz in early 2022. And it has said that the van will come to the US starting in 2023. Future ID.Buzz owners may not be able to follow the Grateful Dead on tour or take their van to Woodstock. But as the vanlife movement and <keyword id="11897958" type="UNKNOWN" weightage="60" keywordseo="electric-vehicles" source="Orion">electric vehicles</keyword> take off, the new Volkswagen bus may become a cultural staple in its own right.

You Searched For "Electric bus" and got 13 results

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