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Have you ever heard about Formula E, the class of auto racing that only uses electric-powered cars? Launched in 2014, this competition of electric vehicles (EVs) has 12 races in 10 cities - from Hong Kong to Montreal - and 20 drivers in 10 teams sponsored by of leading automakers like Audi, BMW, DS (the new upmarket brand from PSA Peugeot Citroen), and Renault. From India, it has Mahindra, which got into the EV segment after acquiring Chetan Maini's Reva Electric in 2010, followed by subsequent investments in product development. In the ongoing 2016-17 championship, Mahindra Racing stands third, only behind Renault and Audi. "This is our most successful season in Formula E so far," says Mahindra Racing team principle <keyword id="181960" type="PERSON" weightage="100" keywordseo="Dilbagh-Gill">Dilbagh Gill</keyword>. In India however, Chairman and MD <keyword id="46425" type="PERSON" weightage="100" keywordseo="Anand-Mahindra">Anand Mahindra</keyword> is looking towards a different kind of race, one that might run for 13 years. After all, the government has planned to move entirely to EVs by 2030, Mahindra has become the earliest mover in this field, before other big Indian corporations. However, Mahindra would certainly knows that he isn’t and can’t be the only player in this field, restricted by the manufacturing capacity that was 2000 in 2016 and is planned to go to 5000 this year. This is perhaps why he tweeted to <keyword id="107096" type="COMPANY" weightage="100" keywordseo="Tesla">Tesla</keyword> CEO <keyword id="6355315" type="PERSON" weightage="100" keywordseo="Elon-Musk">Elon Musk</keyword>, "Time you got out here Elon. You don't want to leave the whole market to Mahindra, do you? The more the merrier - and greener." Tesla’s initial plan of making a 2017 debut in India has been delayed, and for its plan to see the light of the day, government and the power minister Piyush Goyal need to significantly ramp-up Mahindra’s contribution in the field, Tesla’s entry and several such ventures. However, auto analysts wonder if EVs should be the only option, and not hydrogen-powered fuel cells or other alternative clean energies? There’s lithium-ion battery powered electric cars, which are conveniently the most affordable zero-emission vehicles that one could buy, and also graphene battery technology, with 50-100 times more power density than lithium-ion batteries. Not only this, hydrogen fuel cell technologies are also seeing fast paced research and developments, and lower costs too. Fuel cell cars also have an edge over EVs, that they can be refueled as quickly as petrol or diesel vehicles and don’t need eight hours for being recharged, like EVs. Also, they can travel further between fill-ups, but one fueling station would cost up to $2 million ('13 crore) to build, which is a major issue. As per experts, Indian government's vision of a blanket technological direction should be reconsidered, keeping in mind the topography and density of the number of cities we have. While it’s true that encouraging and incentivising new technologies is vital, the government and industry also needs to rethink the EV business model. "As EVs are ideally suited for urban transport and specifically last mile connectivity, the government will need to promote the idea of working with fleet aggregators. The vehicles will also need to be customised for their needs," <keyword id="2819430" type="UNKNOWN" weightage="100" keywordseo="Lithium-Urban-Technologies">Lithium Urban Technologies</keyword> founder <keyword id="1709559" type="UNKNOWN" weightage="100" keywordseo="Subhabrata-Ghosh">Subhabrata Ghosh</keyword> told <a href="http://economictimes.indiatimes.com/industry/auto/news/passenger-vehicle/cars/why-government-and-industry-need-to-rethink-the-electric-vehicle-business-model/articleshow/59043794.cms">ET</a>. "One must understand that EVs are essentially tablet on wheels. And that calls for a newer understanding of the product, the ecosystem, their usage and the business model," adds Ghosh. (Image source The BC SCRAP-IT Program)

Govt and auto industry need to have second thoughts about the electric vehicle business model. Here’s why!

<keyword id="6354552" type="General" weightage="80" keywordseo="hyderabad" source="Orion">Hyderabad</keyword> on Monday achieved the distinction of becoming first Indian candidate city to host <keyword id="1378541" type="General" weightage="100" keywordseo="formula-e" source="Orion">Formula E</keyword> world championship and is expected to host the first race of electric cars between November this year and March 2023. The <keyword id="68884" type="General" weightage="20" keywordseo="telangana" source="Orion">Telangana</keyword> government and Formula E Association along with promoter of the event, <keyword id="405998" type="General" weightage="20" keywordseo="greenko" source="Orion">Greenko</keyword> signed a letter of intent to make Hyderabad a candidate host city for hosting Formula E race on yearly basis. The tripartite letter of intent was signed in Hyderabad in the presence of Telangana's Industry Minister <keyword id="3863563" type="General" weightage="20" keywordseo="k-t-rama-rao" source="Orion">K. T. Rama Rao</keyword>, FIA Formula E Chief Championship Officer Alberto Longo, Greenko Group Chief Executive Officer Anil Chalamasetty, <keyword id="583864" type="General" weightage="20" keywordseo="mahindra-racing" source="Orion">Mahindra Racing</keyword> CEO and Team Principal Dilbagh Gill and other officials. Hyderabad will join the elite club of Rome, Paris, London, Hong Kong, New York and Berlin. Eighteen cities around the world are hosting the race organised every year by the Federation of Internationale de Automobile. Alberto was impressed with the speed with which the Telangana government moved to sign the letter of intent in less than a month since the idea was mooted. He said he had never seen a government taking decisions at such a speed. He said Hyderabad would soon become official host city with first race happening between December 2022 and March 2023. Rama Rao said hosting Formula E is the right step to position Hyderabad as electric vehicles hub. "It's more than a race. It's the perfect combination of future technology, sustainability and most importantly spirit of innovation," he said. He hoped that the event will give a big fillip to the city's image and infrastructure. The state government plans to promote awareness around EVs and encourage innovation by hosting an EV summit parallel to the Formula E championship. Leading EV players and charging infrastructure companies from around the world will be invited for the EV Summit. Stating that India is going to witness revolution of electric vehicles, the minister said Telangana wants to be the epicentre of this revolution. KTR, as the minister is popularly known, said Formula E from FIA family is the fastest growing sport with viewership being more than half of Formula One. He said the popularity of Formula One is increasing every year and it is expected that by the end of the decade, it will equal Formula One in the popularity. He said Hyderabad has everything in place to host the event. "Hyderabad is the most logical and natural choice to host Formula E," he said. The minister claimed that Telangana has done extremely well in 7.5 years in meeting energy challenges. The state's energy output grew four-fold in 7 years and 20 per cent of this came from green energy. He also pointed out that in seven years, the state planted more than 2 billion saplings. More than 80 per cent of these saplings survived, taking green cover to a massive 632 square kilometers in last two years. KTR said among Indian cities Hyderabad has highest greening in last decade. The green cover grew by 147 per cent, beating Delhi, Mumbai, Bengaluru, and Chennai. Telangana's Director for Electric Vehicles and Energy Storage Systems Sujai Karampuri hoped that an agreement to make Hyderabad an official host city will be signed in next 90 days or much earlier. He pointed out that 60 cities around the world were vying to host Formula E and of them 24 cities are really strong candidates. He said the organisers were impressed with the 2.3 km long race track overlooking Hussain Sagar lake in the heart of the city. Gill, who heads the only Indian team participating in Formula E race, said they will soon have an opportunity to race in front of the home crowd. According to him, Formula E is significant as technology transfer from race car to roll car happens in 18 months. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/tesla-india-prospects-get-a-boost-as-states-compete-with-each-other-to-invite-elon-musk-to-their-backyard/articleshow/88890951.cms">Tesla India prospects get a boost as states compete with each other to invite Elon Musk to their backyard</a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-s21-fe-5g-first-impressions-old-wine-in-a-new-bottle/articleshow/88808647.cms">Samsung Galaxy S21 FE 5G first impressions – old wine in a new bottle</a> <a href="https://www.businessinsider.in/tech/news/amazon-republic-day-sale-2022-deals-and-discounts-on-smartphones/articleshow/88871874.cms">Amazon Republic Day Sale 2022 — Mobile phone deals to expect</a>

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Govt and auto industry need to have second thoughts about the electric vehicle business model. Here’s why!

BI India Bureau

Hyderabad first Indian city to host Formula E, an electric car championship

IANS

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