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<ul><li>Shares of some Indian automobile companies have lost over 40% of their value since the start of the year.</li><li>Car makers have been the worst hit by the slump in demand triggered by slump in the Indian economy that has hit consumption.</li><li>The Narendra Modi government's rush to get people to move to electric cars is making business worse for makers of traditional cars that run on fossil fuels like petrol and diesel.</li></ul>Indian car makers are in dire straits. Sales have been falling for eight straight months now with no respite in sight. A weaker economy, rising unemployment and pessimism among consumers have led to a steady fall in demand for discretionary products like cars. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 The crisis has cost investors too. Share prices of car makers, which include some of the marquee names of corporate India, have lost a lot value-- some of them over 40% -- since the start of 2019. And now, there is more bad news that has taken the wind out of auto stocks like Ashok Leyland, Maruti Suzuki, Tata Motors, and M&amp;M today. <table style="width: 169pt;"> </colgroup></colgroup> <tbody><tr> <td class="xl65" style="height:15.0pt;width:73pt">Stock</td> <td class="xl71" style="border-left-width: initial; border-left-style: none; width: 48pt;">July 29</td> <td class="xl66" style="border-left-width: initial; border-left-style: none; width: 48pt;">Last 1 Year</td> </tr> <tr> <td class="xl67" style="height: 15pt; border-top-width: initial; border-top-style: none;">Ashok Leyland</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-3.44%</td> <td class="xl72" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-35.95%</td> </tr> <tr> <td class="xl67" style="height: 15pt; border-top-width: initial; border-top-style: none;">Maruti Suzuki</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-3.75%</td> <td class="xl72" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-40.48%</td> </tr> <tr> <td class="xl67" style="height: 15pt; border-top-width: initial; border-top-style: none;">Tata Motors</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-5%</td> <td class="xl72" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-45.94%</td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">M&amp;M </td> <td class="xl73" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-1.60%</td> <td class="xl74" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-39.23%</td> </tr></tbody></table> The government wants more Indians to adopt electric vehicles, and dump their old cars that run on fossil fuels like petrol and diesel. Electric cars may be better for environment but there are many concerns including the feasibility for customers and the availability of infrastructure to name a few. The government has cut the <a href="https://www.businessinsider.in/gst-council-slashes-tax-on-evs-and-ev-chargers/articleshow/70407724.cms" data-type="tilCustomLink" target="_blank">goods and services tax on electric cars</a> to less than half and <a href="https://www.businessinsider.in/union-budget-2019-indian-government-announces-tax-subsidy-for-purchasers-of-electric-vehicles/articleshow/70091003.cms" data-type="tilCustomLink" target="_blank">offered tax rebates</a> on interest paid loans taken to buy electric cars, aside from setting aside <a href="https://www.businessinsider.in/electric-vehicles-policy-under-fame-ii-offers-incentives-for-local-manufacturing-and-subsidies-for-buyers/articleshow/68314114.cms" data-type="tilCustomLink" target="_blank">a ₹100 billion earlier this year</a> to incentivise electric car manufacturing in India. 
 
 
 
 
 
 <div type="ExtQuote" text="While the EV segment is still facing challenges of limited product availability, charging infrastructure constraints and product viability issues, the government is stepping up its efforts to kick-start its adoption, and appears willing to raise the regulatory burden on conventional vehicles to incentivise the former." auname="CLSA (a global broking house)"></div>











 More bad news The Ministry of Road Transport and Highways has come up with a draft policy to promote old car owners to scrap their vehicles in exchange for free registration for a new car. However, for those who can't avail the incentive, the registration fee will rise up to 40 times. <table style="width: 321pt;"> </colgroup></colgroup> <tbody><tr> <td class="xl64" style="height:15.0pt;width:137pt">Proposed Fees</td> <td class="xl65" style="border-left-width: initial; border-left-style: none; width: 86pt;">New Registration</td> <td class="xl65" style="border-left-width: initial; border-left-style: none; width: 26pt;">Hike</td> <td class="xl65" style="border-left-width: initial; border-left-style: none; width: 46pt;">Renewal</td> <td class="xl66" style="border-left-width: initial; border-left-style: none; width: 26pt;">Hike</td> </tr> <tr> <td class="xl67" style="height: 15pt; border-top-width: initial; border-top-style: none;">Two-wheeler</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">₹1,000</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">20x</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">₹2,000</td> <td class="xl68" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">40x</td> </tr> <tr> <td class="xl67" style="height: 15pt; border-top-width: initial; border-top-style: none;">Three-wheeler</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">₹5,000</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">17x</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">₹10,000</td> <td class="xl68" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">33x</td> </tr> <tr> <td class="xl67" style="height: 15pt; border-top-width: initial; border-top-style: none;">Private car</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">₹5,000</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">8x</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">₹15,000</td> <td class="xl68" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">25x</td> </tr> <tr> <td class="xl67" style="height: 15pt; border-top-width: initial; border-top-style: none;">Taxi</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">₹10,000</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">10x</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">₹20,000</td> <td class="xl68" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">20x</td> </tr> <tr> <td class="xl69" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Medium and heavy vehicles</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">₹20,000</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">13x</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">₹40,000</td> <td class="xl71" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">26x</td> </tr></tbody></table>Source: <a href="https://www.rushlane.com/new-car-registration-free-12318654.html" data-type="tilCustomLink" target="_blank">Rush Lane</a> "The government also intends to increase the cost of ownership of old vehicles by raising charges for their registration renewal. We, however, believe the above policy measures will be unable to trigger much replacement demand and hence are unlikely to provide much of a boost to auto demand. First, the number of vehicles that are older than 15 years and still in active use is very limited. The owners of such vehicles will usually have limited financial capability to buy new or other vehicles in the secondary market (even if incentives are transferrable), and hence are less likely to go for this voluntary scrappage scheme," CLSA explained. Car makers have had to offer deep discounts to bring people into showrooms. These discounts are far more than the incentive available on registration renewals and yet, they have failed to revive demand for cars. The policy squeeze will be an added burden on the companies. SEE ALSO: <a href="https://www.businessinsider.in/gst-council-slashes-tax-on-evs-and-ev-chargers/articleshow/70407724.cms" data-type="tilCustomLink" target="_blank">Buy electric vehicles for less now, GST council slashes rate from 12% to 5%</a> <a href="https://www.businessinsider.in/nissan-may-lay-off-over-1700-employees-in-india/articleshow/70389996.cms" data-type="tilCustomLink" target="_blank">Nissan may lay off over 1,700 employees in India as car sales slow down</a> <a href="https://www.businessinsider.in/Top-10-electric-cars-that-people-are-excited-about/Tesla-Model-X-507990-searches/slideshow/70404198.cms" data-type="tilCustomLink" target="_blank">Top 10 electric cars that people are excited about</a>

India's push for electric vehicles is haemorrhaging car makers

New Delhi, Jan 26 () High GST rates, import duties and registration taxes are limiting the growth of luxury car market in India and the government must consider reducing these in the upcoming Budget, according to German luxury car maker Audi.
The company, which saw 28.92 per cent decline in sales at 4,594 units in 2019 as against 6,463 units in 2018, said every major player in the luxury segment saw decline in sales last year and government support would help in overcoming the downturn.
"Luxury car sales are impacted by high GST rates, import duties and registration taxes, which is limiting the segment to a mere 1.2 per cent of the overall car market; when compared to other global markets," Audi India head Balbir Singh Dhillon said.
He further said, "Every major luxury car player has de-grown in volumes during 2019."
Hence, Dhillon said, "We would urge the government/GST council to reduce GST, import duties and rationalise the vehicle registration cost on luxury cars, across the country."
Indian luxury car market comprising top five players -- Mercedes, BMW, Audi, JLR and Volvo -- witnessed a total sales of 40,340 units in 2018 and is expected to see a decline in 2019. Some of the companies are, however, yet to release their up to date sales data.
Luxury car market leader Mercedes Benz had reported 11.28 per cent decline in retail sales at 13,786 units in 2019 as compared to 15,538 units in 2018, while German compatriot BMW reported 13.8 per cent dip in its sales at 9,641 units in India last year as compared with 11,105 units sold in 2018.
Dhillon further said, "Easy lending by the banks and NBFCs will help expand the market and boost the overall automotive industry."
Stating that the government has placed a definitive emphasis on electric vehicles, he, however, said setting up of necessary charging infrastructure is key to the success of the EV-centric ecosystem.
"It is also worthwhile to mention that plug-in hybrid vehicles should also be encouraged with lower GST, import duties and registration taxes. This will encourage customers to take the first step towards PHEVs (plug-in hybrid electric vehicle) and eventually move to electric mobility in India," he added. RKL MKJ

Higher taxes, other levies hurting luxury car sales; govt must address: Audi India head

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Hollis Johnson/Business InsiderTesla's Model 3.</div></div></div><ul class="summary-list"><li>Nearly half of the US' <a href="https://www.businessinsider.com/category/tesla">Tesla</a> Model 3 registrations during the first 10 months of 2018 came from California, <a href="https://www.bloomberg.com/news/articles/2019-01-16/tesla-leans-on-california-for-almost-half-of-model-3s-registered">Bloomberg</a> reported on Wednesday, citing data from IHS Markit.</li><li>The high percentage of <a href="https://www.businessinsider.com/category/tesla-model-3">Model 3</a> registrations from California does not hold any negative implications for Tesla in the short or long term, said Gene Munster, a managing partner at Loup Ventures.</li><li>The disparity between California and other states results from the factors that make California residents more receptive to electric vehicles, like their tech-savviness and concern for the environment, rather than any weaknesses on <a href="https://markets.businessinsider.com/stocks/tsla-stock">Tesla</a>'s part, Munster said. </li><li>There are other, more tangible factors that make California a strong market for electric vehicles, like a robust charging infrastructure and generous incentives for electric vehicle buyers, said Michael Ramsey, an automotive analyst at Gartner.</li></ul>Nearly half of the US' Tesla Model 3 registrations during the first 10 months of 2018 came from California, <a href="https://www.bloomberg.com/news/articles/2019-01-16/tesla-leans-on-california-for-almost-half-of-model-3s-registered">Bloomberg</a> reported on Wednesday, citing data from IHS Markit. (Full data was only available through October, Bloomberg said.)Read more: <a href="https://www.businessinsider.com/tesla-ending-referral-program-too-expensive-elon-musk-2019-1">Tesla is ending its popular referral program that rewarded owners with a load of free perks because it's getting too expensive</a>At 49.3%, California's share of US Model 3 registrations between January and October 2018 is nearly 10 times that of Florida, which at 5.1%, had the second-highest share of Model 3 registrations. At first glance, those statistics could indicate that the Model 3 is not a car for the masses, as Tesla CEO Elon Musk has billed it, but a vehicle with limited, regional appeal.But the high percentage of Model 3 registrations from California does not hold any negative implications for Tesla in the short or long term, said Gene Munster, a managing partner at Loup Ventures."I don't think it has any impact on Tesla's ability to hit their numbers in the next year," he said.The disparity between California and other states results from the factors that make California residents more receptive to electric vehicles, like their tech-savviness and concern for the environment, rather than any weaknesses on Tesla's part, Munster said. Those factors create a positive cycle for electric vehicle sales, as a higher number of electric vehicles on the road leads to greater awareness by California residents, which then leads to more electric vehicle sales.There are other, more tangible factors that make California a strong market for electric vehicles, like a robust charging infrastructure and generous incentives for electric vehicle buyers, Michael Ramsey, an automotive analyst at Gartner, said in an email.California has over 19,000 publicly available electric-vehicle charging stations, according to the <a href="https://afdc.energy.gov/data/10366">Alternative Fuels Data Center</a>. No other state has even 5,000 publicly available stations. California also offers either a $2,500 or $4,500 rebate for electric vehicle purchases, depending on the customer's income.While Ramsey said he expects the percentage of Tesla sales coming from California to decrease, he said he wouldn't be surprised if the state still accounted for over a quarter of Tesla's sales in the long term.Have a Tesla news tip? Contact this reporter at mmatousek@businessinsider.com.Get the latest Tesla stock price<a href="http://markets.businessinsider.com/stock/TSLA-Quote"> here.</a> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/jeep-wrangler-made-fiat-chrysler-automobiles-factory-2018-12">Go inside the Chrysler factory that makes Jeep Wranglers</a></h3> <div> </div> </div>

Almost half of the Model 3s registered in the US during the first 10 months of 2018 came from California, but experts say it won't hurt Tesla's future

<table border="0" cellspacing="0" cellpadding="0"><tbody><tr><td colspan="2"><a href="https://static-ssl.businessinsider.com/category/chart-of-the-day"> </a></td></tr><tr><td><a href="http://www.businessinsider.com/category/chart-of-the-day"></a></td><td><a href="http://www.businessinsider.com/apple-music-vs-spotify-subscribers-chart-2017-6"></a></td></tr></tbody></table>Electric vehicles are on the up, but it's all relative.According to a report released this week by the <a href="http://www.iea.org/newsroom/news/2017/june/electric-vehicles-have-another-record-year-reaching-2-million-cars-in-2016.html" target="_blank" rel="noopener noreferrer">International Energy Agency</a>, the total number of electric cars on roads around the world surpassed two million in 2016. More than 750,000 of those registrations came last year, continuing a trend of steady global growth, largely off the back of continued EV adoption in China.But while more is better, electric vehicles remain a small niche. As this chart from <a href="https://www.statista.com/chart/9742/registrations-of-electric-cars-worldwide/" target="_blank" rel="noopener noreferrer">Statista</a> shows, those EV registrations only made up around one percent of the total market. The IEA says that two-million figure only represented 0.2% of the light-duty vehicles on the road last year.That's not great, but on the flip side, it means there's still plenty of room for growth. That should be easier as electric vehicles continue to <a href="http://www.businessinsider.com/best-cheap-electric-cars-2017-5" target="_blank" rel="noopener noreferrer">get better and more affordable</a>.Mike Nudelman/Business Insider/StatistaGet the latest Tesla stock price<a href="http://markets.businessinsider.com/stock/TSLA-Quote"> here.</a> <h3>NOW WATCH: <a href="http://www.businessinsider.com/neil-degrasse-tyson-describes-world-500-years-future-2017-6">Neil deGrasse Tyson explains what Earth will look like in 500 years</a></h3> Please enable Javascript to watch this video

Electric vehicles are coming off a record year, but remain very far from the mainstream

New Delhi, Jan 27 () State-owned Energy Efficiency Services Ltd (EESL) on Monday got delivery of the first ZS EV of MG Motor India.
 EESL placed the order for 5 MG ZS EVs that will be used by government officials to further the cause of electric vehicles (EVs) as part of its National E-Mobility Programme, according to a statement.
 This procurement by EESL is driven by the objective of facilitating faster adoption of disruptive solutions while balancing economic development and environmental sustainability, the statement.
 With this initiative, EESL seeks to create a market for electric vehicles through its unique business model of aggregation of demand and bulk procurement.
 EESL is seeking to leverage the immense potential of replacement of existing vehicles in the government departments for initial demand aggregation.
 Saurabh Kumar, managing director, EESL, said in the statement: "India stands at the cusp of a new era that will be driven by sustainability. EV adoption is the future of mobility and will play a huge role in curbing the growing pollution crisis, as well as reduce the country's dependence on fossil fuels."
 Commenting on the showcase of the ZS EV, Rajeev Chaba, president and managing director, MG Motor India, said: "Through several progressive measures such as the launch of FAME-II and BS-VI standards, the Indian government has been making major efforts to promote cleaner technologies in the country."
 The Government of India launched the National E-Mobility Programme to provide an impetus to the entire e-mobility ecosystem including vehicle manufacturers, charging infrastructure companies, fleet operators, and service providers.
 EESL is aggregating demand by procuring electric vehicles in bulk to leverage economies of scale. Till date, a total of 1,510 e-cars have been deployed and another 500 are under registration.
 Energy Efficiency Services Ltd has signed agreements with various public sector undertakings, government departments, and state governments of Delhi, Haryana, Jharkhand, Madhya Pradesh, Uttar Pradesh, Andhra Pradesh, Maharashtra, Telangana, Andaman and Nicobar Islands, Gujarat, Odisha, Chhattisgarh, Kerala and others for deploying e-cars. KKS HRS

EESL gets first electric vehicle from MG Motor

New Delhi, Dec 20 () Union Minister Nitin Gadkari on Friday said he will not allow driverless cars in India, which has a shortage of 22 lakh drivers.
 Speaking at an Assocham event here, the road transport and highways minister said, "Many times I am asked what about driverless car? Then I say till the time I am transport minister, you forget that. I will not allow driverless car to come in India."
 Stating that India has a shortage of 22 lakh drivers, Gadkari said there was a need for growth of employment as well as industry in the country.
 The minister also said vehicle scrappage policy was at the final stage, adding that "if we bring it then 100 per cent our cost will be reduced because raw material will be cheap and India will be world's number one manufacturing hub with regard to automobile manufacturing, e-vehicle...And if this happens then definitely it will contribute a lot to (USD) 5 trillion economy."
 The automobile industry at present is a Rs 4.5 lakh crore industry, the minister said.
 In May 2016, the government had floated a draft Voluntary Vehicle Fleet Modernisation Programme (V-VMP) that proposed to take 28 million decade-old vehicles off the road.
 A committee of secretaries (CoS) recommended to the ministry to redesign the scheme for greater participation of states with partial support from the Centre.
 The CoS had suggested that the scheme may dovetail a calibrated and phased regulatory approach for capping the life of vehicles together with stricter implementation of emission norms and accordingly a revised consultation paper got in-principle nod of the PMO.
 The government had in July this year proposed amendments to the motor vehicle norms to allow scrapping of vehicles older than 15 years in a bid to spur adoption of electric vehicles. In a draft notification, the government proposed renewal of fitness certificates for vehicles older than 15 years every six months instead of the current timeframe of one year.
 The notification also provided that newly purchased motor vehicles will be exempt from payment of fees for registration certificate and assignment of the new registration mark if the purchaser produces scrapping certificate of the previously owned vehicle of the same category. SID ABM

Will not allow driverless cars in India: Gadkari

New Delhi, May 10 () The much-awaited vehicle scrappage policy would help in curbing air pollution, reducing fuel consumption and curtailing fatalities in road accidents, while generating demand for new vehicles in the country amid the coronavirus pandemic, industry sources said. The proposed scrappage policy requires support from both the central and state governments, an industry source said. The governments at both levels would need to come together to make this programme successful by providing fiscal incentives for fleet modernisation, another industry source added. An incentive based mechanism will make the scheme lucrative and encourage people to scrap their old vehicles and replace them with new ones, he added. When contacted over the matter, SIAM President Rajan Wadhera told that the industry body has been engaging with the Government of India, requesting for an incentive-based scrappage policy with monetary incentives in the form of 50 per cent rebate in GST, road tax and registration charges. Similarly, SIAM Director General Rajesh Menon said an incentive based policy will help in mitigating pollution, improving road safety and conserving fuel. "And more importantly in the current context of impact of COVID 19 on the Indian auto sector, also could kickstart demand," he added. A vehicle scrappage policy is in the works for some time now. The policy aims to put a cap on the life of vehicles in terms of years run. Last week, Union Minister Nitin Gadkari had said that the scheme is likely to be finalised soon to boost the automobile sector. The proposed policy once approved, will be applicable on all vehicles including two and three-wheelers. Earlier, the policy was sent for a fresh round of consultation with stakeholders on the direction of the Prime Minister's Office. Gadakri had earlier said that once the policy is approved, India could emerge as a hub for automobile manufacturing as key raw material available from scrapping, like steel, aluminium and plastic are bound to be recycled, bringing down automobile prices by "20-30 per cent". The government on July 26, 2019 had proposed amendments to motor vehicle norms to allow scrapping of vehicles older than 15 years in a bid to spur adoption of electric vehicles. In a draft notification, the government proposed renewal of fitness certificates for vehicles older than 15 years every six months instead of the current time-frame of one year. The notification also provided that newly purchased motor vehicles will be exempted from payment of fees for registration certificate and assignment of new registration mark, if the purchaser produces scrapping certificate of the previously-owned vehicle of the same category issued by the authorised scrapping centre/agency. The government had first floated a draft voluntary vehicle fleet modernisation programme in May 2016, that proposed to take 28 million decade-old vehicles off the road. MSS RVK

'Vehicle scrappage policy to help generate demand for new vehicles amid coronavirus pandemic'

New Delhi, Dec 24 () Auto industry body SIAM on Tuesday said the electric vehicle policy announced by the Delhi government would help encourage consumers to adopt electric vehicles.
 Some of the welcome announcements in the policy include measures which would make electric vehicles affordable and acceptable, Society of Indian Automobile Manufacturers (SIAM) Director General Rajesh Menon said in a statement.
 These include purchase incentives, interest subvention, scrappage incentive, waiver on road tax, waiver on registration and parking fees and measures to push charging infrastructure, he added.
 Similarly, Society of Manufacturers of Electric Vehicles (SMEV) also lauded the policy unveiled by the Delhi government.
 "We are delighted to see the Delhi government take the lead in making EVs more appealing to customers...I am thankful that the government considered most of our recommendations including the conversion of commercial ICE vehicles into electric, E-bike taxi and more such alternatives as they are the key drivers in taking the e-mobility momentum forward," SMEV Director General and Hero Electric CEO Sohinder Gill said.
 These additional incentives apart from the subsidy offered by the central government would definitely encourage more people to switch to clean mobility, he added.
 With the introduction of this policy, SMEV is certain that Delhi will lead by example and more states will also emulate such measures to give a boost to the EV industry.
 "If a similar policy is adopted at the national level, we are confident that the electric mobility revolution at a mass scale will kickstart in the country," Gill noted.
 On Monday, the Delhi Cabinet gave approval to an electric vehicle policy.
 Under the Delhi Electric Vehicle Policy 2019, the city government is providing a subsidy of Rs 5,000 per kWh of battery capacity on the purchase of two-wheelers. Incentive of up to Rs 5,000 will be offered for scrapping a non-electric two-wheeler vehicle and switching to an electric vehicle.
 The purchase subsidy of four-wheelers is Rs 10,000 per kWh of battery capacity for the first 1,000 cars subject to a cap of Rs 1,50,000 per vehicle. The Delhi government also aims to transition 50 per cent of the newly-purchased buses into electric buses by 2024 and 100 per cent by 2030. There will be no road tax on registration fees on electric vehicles.
 All two-wheelers engaged in last-mile deliveries, such as food delivery vehicles, courier services, and e-commerce logistics, will be expected to transition 50 per cent of their fleet to electric by March 2023, and 100 per cent of their fleet to electric by March 2025, stipulates the policy.
 The purchase subsidy on electric autos, e-rickshaws, and e-carriers is up to Rs 30,000 and loans on a subsidy of 5 per cent will be provided to them, he said.
 The electric vehicle policy will be implemented through a board to be constituted by the city. MSS ANU
ANU

SIAM, SMEV welcome electric vehicle policy of Delhi govt

<ul class="summary-list"><li><keyword id="11900744" type="UNKNOWN" weightage="60" keywordseo="tesla" source="Orion">Tesla</keyword>'s share of the US electric-vehicle market is shrinking as rivals gain momentum. </li><li>Around 66% of new EVs registered in the US from January to June were Teslas, a big drop from 2020. </li></ul>Tesla is the biggest electric-vehicle powerhouse in the US by far, but rivals are starting to eat away at its share of the market as appetite for <keyword id="6358835" type="UNKNOWN" weightage="60" keywordseo="electric-cars" source="Orion">electric cars</keyword> explodes.From January through June 2020, Tesla accounted for a staggering 79.5% of all new EVs registered in the US. During the same six months in 2021, 66.3% of new-EV registrations went to Tesla, according to <a href="https://www.businessinsider.com/reviews/out?u=http%3A%2F%2Fwww.experian.com%2Fblogs%2Finsights%2F2021%2F10%2Fev-registrations-grow-first-half-2021-non-electric-remains-dominant%2F">Experian data</a> published Monday. <keyword id="11939508" type="UNKNOWN" weightage="60" keywordseo="auto-industry" source="Orion">Auto industry</keyword> titans like <keyword id="12153707" type="UNKNOWN" weightage="60" keywordseo="volkswagen" source="Orion">Volkswagen</keyword>, Ford, and General Motors are betting big on a future dominated by battery-powered cars, and they're plunging billions into efforts to electrify. In 2021, Audi's share of EV registrations grew to 3.3%, Ford's grew to 5.2%, and Chevrolet's increased 1.3% to hit 9.6%, according to Experian. <keyword id="12324464" type="UNKNOWN" weightage="60" keywordseo="nissan" source="Orion">Nissan</keyword>'s share rose to 3.9%.Ford launched its first modern EV, the <a href="https://www.businessinsider.com/ev-electric-car-ford-mustang-mach-e-road-trip-charging-2021-8">Mach-E SUV</a>, in late 2020. Audi's first mass-market EV, the <a href="https://www.businessinsider.com/audi-e-tron-disappointing-compared-to-longer-range-electric-suvs-2020-8">E-Tron SUV</a>, went on sale in 2019, and the Volkswagen subsidiary has announced multiple new electric models since. Tesla may be losing market share, but its sales and the EV space more broadly are growing dramatically. Tesla sold some 386,000 vehicles during the first half of 2021, more than double the number it sold during that period in 2020. From January to June of 2021, EVs made up 2.4% of new vehicle registrations, according to Experian. That's not much, but it's more than double the same six months in 2020. Wall Street analysts expect that Tesla will remain dominant for years, but rivals will overtake it in EV sales within the decade. Analysts at UBS <a href="https://www.businessinsider.com/tesla-most-profitable-ev-maker-2025-ubs-volkswagen-software-advantage-2021-3">said in March</a> that Volkswagen will sell more electric models than Tesla in 2025, but Tesla will turn a bigger profit on the cars it sells.

You Searched For "electric vehicles registration in india" and got 9 results

India's push for electric vehicles is haemorrhaging car makers

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Higher taxes, other levies hurting luxury car sales; govt must address: Audi India head

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Almost half of the Model 3s registered in the US during the first 10 months of 2018 came from California, but experts say it won't hurt Tesla's future

Mark Matousek

Electric vehicles are coming off a record year, but remain very far from the mainstream

Jeff Dunn

EESL gets first electric vehicle from MG Motor

PTI

Will not allow driverless cars in India: Gadkari

PTI

'Vehicle scrappage policy to help generate demand for new vehicles amid coronavirus pandemic'

PTI

SIAM, SMEV welcome electric vehicle policy of Delhi govt

PTI

Electric cars are more popular than ever, but Tesla is losing market share to new competitors

Tim Levin

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