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<ul><li>Skoda recently launched the Kylaq SUV, the company’s latest entry-level subcompact SUV.</li><li>The company has announced its plans to launch an electric vehicle in India in 2025.</li><li>The Skoda Enyaq EV’s updated version will debut in India next year.</li></ul>Skoda Auto will roll out its electric vehicle in the Indian market in 2025. In an exclusive interaction with ANI Skoda Auto Brand Director Petr Janeba says Skoda's European bestseller, the Enyaq EV, was initially slated for an Indian debut this year but postponed to next year for an updated version. Janeba says a significant facelift planned for the model in March has led the company to hold off until the new version, featuring Skoda's latest design language, is ready. He said, "We have one of the best-selling EVs in Europe our European Enyaq. The car was tested, and the car was prepared for India. We have actually stopped bringing the car this year. Because there will be a huge facelift of the Skoda Enyaq coming in March following the new design language." He added, "We actually can choose one of the three EV cars coming to India or all three." Skoda is closely monitoring India's changing EV policies, especially the CAFE3 (Corporate Average Fuel Economy) norms set to be introduced in April 2027. On further investment in India Janeba highlighted the importance of a consistent regulatory environment, as state-level EV and hybrid tax policies currently vary widely, impacting long-term planning. "And within this plan, we understand nobody can survive in India without having a deeper localised CKD EV in India. We are ready for this. We are ready in Pune to make another investment for the car and for the production to get it. At the end of the day, we still take our time in order to decide the right measure car for the market, seeing the new competitors coming on the EVs." Said Janeba Skoda already has two manufacturing units in India, in Chhatrapati Sambhaji Nagar and Pune. EVs are planned to be manufactured in their Pune plant For the production, he stated, "In the same factory in Pune, Chakan we will be producing EVs. Currently we have increased because of the Kylaq the production capacity in Pune to 250,000 units a year and we will be increasing further once it is needed either for the current cars because of the export or because of the Indian demand or for the new cars like EVs." The facility is also set to support EV production with deep localisation efforts to make Skoda's electric lineup more affordable for Indian consumers. Piyush Arora, India CEO, Skoda Auto echoed this sentiment, expressing confidence that Skoda's expanded product offerings will capture the growing sub-four-meter SUV segment, a category that represents nearly 30 per cent of India's automotive market. "With the new Kodiaq and other upcoming models, we are aiming for a 5 per cent market share in the medium term," he added. Skoda's commitment to India extends beyond manufacturing. Arora highlighted the company's investment in local engineering talent and its dealer and supplier networks. "Our technical centre in India plays a crucial role in developing products like the Kodiaq, which was fully designed in India," he noted, calling it a testament to India's engineering prowess and the company's long-term vision for the region. With inputs from ANI. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/skoda-kylaq-suv-launched-in-india-starting-at-7-89-lakh/articleshow/115013668.cms">Skoda Kylaq SUV launched in India starting at ₹7.89 lakh</a> <a href="https://www.businessinsider.in/stock-market/webstories/swiggy-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/115004939.cms">Swiggy IPO – GMP, risk factors and all you need to know</a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-ipo-indias-biggest-telco-to-go-public-in-2025-retail-ipo-further-away/articleshow/114944496.cms">Reliance Jio IPO – India’s biggest telco to go public in 2025, retail IPO further away</a>

Skoda plans to launch an updated electric vehicle in India in 2025

With heavy, torrential rains currently lashing south India, particularly Bangalore and Chennai, life in these metros has reached a complete standstill. While there is little you can do to control nature's ongoing fury, you can safeguard your precious two- and four-wheelers, which have little respite or protection from the ongoing vagaries of rains and floods. During heavy rains, the first in line of damage is your vehicle's engine, which could cost you a bomb! If the water enters the engine's cylinder, it can cause it to seize and leave it beyond repair. Another common damage your vehicles can face during such times is <keyword id="23605837" type="General" weightage="20" keywordseo="electrical-failure" source="keywords">electrical failure</keyword> since water seepage can cause shorting of the electrical components, including the battery, alternator, and wiring systems. Then there's moisture seepage, which can affect your vehicle's braking and fuel systems. <h2><keyword id="20224622" type="General" weightage="20" keywordseo="motor-insurance" source="keywords">Motor Insurance</keyword> to the Rescue</h2> While a comprehensive motor insurance policy might protect you against accidents, thefts, and other third-party liabilities, they might fall short when it comes to safeguarding your vehicles from damages caused by natural calamities like heavy rain. As such, you can opt for a few add-ons over and above your regular motor policy to ensure you don't end up spending a hefty amount from your pockets if your vehicles need repair. "In Chennai and Bangalore, the recent heavy rains have led to several challenges, causing multiple vehicles and home damage. Urban flooding is a phenomenon now being witnessed in most metropolitan cities. Cases of vehicles being swept away in floods have also been seen, leading to total loss" Vivek Chaturvedi, CMO and Head of Direct Sales, Go Digit General Insurance "While comprehensive motor insurance policies protect your vehicle against damage from natural disasters such as floods, cyclones, and heavy rains, you should consider add-on covers like engine protection, zero depreciation, <keyword id="22024865" type="General" weightage="20" keywordseo="roadside-assistance" source="keywords">roadside assistance</keyword>, return to invoice, and consumables. These options help cover the costs of repairing or replacing vehicle parts and any injuries or damage from accidents," he continues. Here's a ready reckoner of all add-ons you can consider: 1. <keyword id="23605835" type="General" weightage="20" keywordseo="engine-protection-cover" source="keywords">Engine Protection Cover</keyword>: This cover protects your wallet from costly repairs in case your vehicle's engine is severely damaged. 2. Zero Depreciation Cover/Bumper-to-Bumper Cover: While servicing your claims, insurers generally deduct depreciation or regular wear and tear on your vehicle. This add-on guarantees you a claim without any deduction for wears and tears. 3. Roadside Assistance Cover: You never know when your vehicle might be stalled. This cover offers repair at the site, towing, and alternative travel if one’s car is stuck on waterlogged roads. It can also include services like fuel delivery, battery replacement, or flat tire repair. 4. Tire Protection Cover: It offers repair or replacement of tires damaged due to cuts, bursts, or bulges during wet, hazardous conditions. Says Kalpesh Chavan, Senior Vice President &amp; Product Head of Elephant (Corporate Insurance Wing of Alliance Insurance Brokers), "EV owners should additionally also opt for battery protection cover and electric surge secure add-on. This add-on protects the electronic pieces and circuits of electric vehicles from any short circuits, electrical arcing, or leakage, especially through water entry." <h2>Don't crank up the engine. </h2>Got a vehicle that's flooded with water? Don't try to start it forcefully. If you do so, the insurance company can decline your claim for all the damage caused by attempting to start such a flooded engine. Your best bet in such cases is to wait till the water subsides and then try revving up the engine. Chavan adds that most car owners need to take into account how disaster-prone their area is and end up estimating the wrong coverage amount for their cars. Inadequate study of the terms and conditions of the policy may lead to claim rejections when most needed. But most importantly, if your vehicle's insurance is up for renewal, do not delay or procrastinate to do the same. Or else your car could become uninsured during the most critical periods. Maintaining up-to-date records and documentation is of the essence; missing documents may trigger unwarranted delays in the processing of claims.

Facing vehicle damage during heavy rains? Here's how motor insurance can come to your rescue

In response to higher-than-expected tax revenue and a record surplus transfer from the Reserve Bank of India (RBI), the Indian government is considering an 8-10% increase in <keyword id="20018917" type="General" weightage="20" keywordseo="capital-expenditure" source="keywords">capital expenditure</keyword> (capex) for the fiscal year 2025, according to Pantomath Group's quarterly report, "Market Kaleidoscope: Quarterly Market Insights." This adjustment could raise the capex from the previously allocated Rs 11.11 lakh crore, aiming to bolster infrastructure and economic growth. This fiscal boost comes as India reaches a historic financial milestone. The total market capitalization of all stocks listed on the Bombay Stock Exchange (<keyword id="19895774" type="General" weightage="20" keywordseo="BSE" source="keywords">BSE</keyword>) briefly surpassed $5 trillion for the first time, placing India among global giants such as the US, China, Japan, and Hong Kong. India's primary market is set for a dynamic period, with 55 companies planning to raise over Rs 68,000 crore through Initial Public Offerings (IPOs). The first half of FY2025 has already seen 35 mainboard IPOs, collectively raising around Rs 32,000 crore with an average subscription rate of 61 times. The Indian market maintained a positive outlook in the first quarter of FY2025, driven by strong Q4FY24 earnings, favorable economic data, and positive global cues. Despite early June volatility following the 2024 <keyword id="19895394" type="General" weightage="20" keywordseo="lok-sabha" source="keywords">Lok Sabha</keyword> election results, market sentiment improved with the BJP securing 272 seats and a total of 292 seats for the NDA with allied support. This political stability under Prime Minister Narendra Modi's leadership is expected to promote long-term economic growth, with a focus on infrastructure, electric mobility, startup support, power distribution, digital privacy, and healthcare initiatives. Corporate India's performance in the March quarter of FY2024 met expectations, showing double-digit growth in net profit and single-digit revenue increases. Non-lending companies experienced moderate operating margin expansion due to favorable commodity prices and cost controls. The peaking interest rates and continuity of <keyword id="19978691" type="General" weightage="20" keywordseo="government-policies" source="keywords">government policies</keyword> are anticipated to support healthy corporate growth in FY2025. <h2>Growth to continue</h2>The government's push for increased <keyword id="20068449" type="General" weightage="20" keywordseo="ethanol-production" source="keywords">ethanol production</keyword> targets a 20% blending by 2026, benefiting ethanol-heavy sugar companies and promoting biofuel goals. The real estate market is projected to grow significantly, requiring Rs 14 lakh crore in debt financing from 2024 to 2026. This growth will positively impact the banking and financial sectors. Major telecom operators have raised tariffs post-election, potentially improving sector financials and paving the way for sector re-rating. Major cement players are expanding through acquisitions, with an expected 6-7% compounded growth and market dominance by the top five players by March 2025. FMCG Companies expect recovery in rural business due to factors like a normal monsoon, robust crop yields, and government measures, maintaining robust rural demand. The potential roll-out of the FAME 3 Scheme to support <keyword id="19963112" type="General" weightage="20" keywordseo="electric-vehicle-sales" source="keywords">electric vehicle sales</keyword> is anticipated, with a budgetary allocation of around Rs 10,000 crore. Sectors such as auto, cement, defence, railways, consumer durables, energy, and banking are expected to outperform. Lagging sectors like IT and specialty chemicals offer value-buying opportunities at lower levels. The structural bull market for Indian equity is supported by strong domestic fundamentals and government reforms, with a positive medium- to long-term market outlook. Globally, the US market showed resilience, except for the Dow Jones. The Federal Reserve maintained interest rates at 5.25-5.50%, awaiting inflation to move towards the 2% target before considering rate cuts. The US GDP grew at 1.4% annually in Q1 2024, with mixed economic indicators highlighting both strengths and challenges. The Indian <keyword id="19926041" type="General" weightage="20" keywordseo="IPO-market" source="keywords">IPO market</keyword> has seen significant growth, with a surge in companies seeking to list shares and a rise in capital raised. The first half of 2025 saw strong retail investor participation, reflecting confidence in India's growth prospects. Mahavir Lunawat, Managing Director, Pantomath Capital Advisors Private Limited, said, "Favourable market conditions, high liquidity, a conducive growth environment with stable interest rates, and benign inflation have facilitated a boom in the IPO market. The IPO market will experience a stronger pull post-budget. India is set to become the new equity funding frontier for global corporations." He further added. "We are on the brink of sustained, long-term momentum in the IPO market, with this year potentially becoming the best for IPOs. India's solid macroeconomic environment and promising growth prospects create an ideal backdrop for this vibrant IPO market. Additionally, there is robust participation from both domestic institutional investors and retail investors." With the Indian government's potential capex increase and the robust primary market activity, the <keyword id="19948184" type="General" weightage="100" keywordseo="Indian-economy" source="keywords">Indian economy</keyword> is poised for sustained growth. The upcoming period is expected to see heightened market activity, further IPOs, and economic stability, creating a conducive environment for investment and development.

India may boost FY25 capex by 8-10% amid surging revenues and record RBI surplus, says Market Kaleidoscope report

<ul><li><keyword id="19895203" type="General" weightage="20" keywordseo="electric-vehicles" source="keywords">Electric vehicles</keyword> (EVs) are gaining popularity worldwide</li><li>However, concerns remain about their environmental impact</li><li> <keyword id="21881868" type="General" weightage="20" keywordseo="alternative-fuel" source="keywords">Alternative fuel</keyword> vehicles like hydrogen fuel cells and biofuels are some more alternatives we can tap into</li></ul> Electric vehicles or EVs are in their prime right now, with the demand crossing an all-time high. A trend noticeable around the world, EVs are not only becoming increasingly popular but also fairly affordable. Slowly but surely EVs are overcoming the challenges that crossed them — design, features, safety, and most importantly range. A major credit to this trend can be given to consumer acceptance, policy backing, and improving infrastructure. However, there is a downside to EVs as well. Having featured multiple EVs with our series<a href="https://www.youtube.com/watch?v=TCR3PaYxcmk&amp;t=1s" data-type="tilCustomLink" target="_blank"> Short Spin, </a>I developed a strong reference point. This made me wonder why are we so heavily reliant on them. Over its life cycle, EVs cannot be termed as particularly environmentally friendly, which has been their main selling point over the past few decades. <h2>The ‘Red’ side of EVs</h2> There is a bit of red within the go-green agenda that EV manufacturers push. EVs as a whole do come with benefits like low maintenance, improved efficiency and ultimately lower fuel emissions. However, <keyword id="21357488" type="General" weightage="100" keywordseo="EV-production" source="keywords">EV production</keyword> and disposal can have detrimental effects on the natural environment. Here are some socio-ecological concerns over EVs: 1. High carbon footprint in battery production: EV battery production is energy-intensive and often relies on electricity from fossil fuels, leading to a high initial carbon footprint. This is elaborated in a story recently published by Earth Org. 2. Resource constraints and ethical concerns: Particularly with the extensive mining of cobalt and other minerals for EVs, there has been a global outcry. Limited availability of critical minerals like lithium, cobalt, and nickel, shady mining practices long work hours, unsafe work environments, and use of child labour in underdeveloped parts of the world have raised several ethical issues around the sustainability of EVs. This issue can be explored further in this essay by Al Jazeera. 3. Recycling and end-of-life challenges: EV battery recycling is currently inefficient, costly, and poses significant environmental risks, with a huge amount of batteries ending up in landfills. 4. Manufacturing costs and economic barriers: High production costs, especially for batteries, make EVs more expensive than conventional vehicles and require significant investments in new manufacturing facilities and supply chains. 5. Supply chain and geopolitical risks: Critical mineral resources necessary for EV production are concentrated in a few countries. This leads to vulnerabilities in the complex supply chain and often risks disruptions due to geopolitical tensions, trade conflicts, or natural disasters. China as of today controls 83% of EV battery production in the world, with a major stronghold on the supply chain. While I am in no way suggesting to drop out of EVs, I believe sticking to just one alternative risks replicating the same mistake we did for ICE vehicles. So, what are the alternatives? <h2>The alternates fuel vehicles (<keyword id="23193800" type="General" weightage="20" keywordseo="AFVs" source="keywords">AFVs</keyword>)</h2> AFVs are a growing segment of the automotive industry that utilize fuels other than traditional gasoline or diesel. These vehicles offer similar potential benefits such as reduced greenhouse gas emissions, improved air quality, and reduced dependence on fossil fuels. While EVs are also a form of AFVs, here we will list out other major alternatives like hydrogen fuel and biofuel options. Hydrogen fuel cells: Convert hydrogen gas into electricity, emitting only water vapour. Currently, <keyword id="19906788" type="General" weightage="20" keywordseo="Toyota" source="keywords" meta.keywordsubtype="org" meta.entityname="Toyota" meta.hostid="261" meta.entityid="Toyota">Toyota</keyword> and Hyundai are the only hydrogen-based cars in the Indian market. Hydrogen internal combustion engines: These vehicles use hydrogen as a fuel in modified combustion engines. While road-legal vehicles for this fuel type aren’t out, BMW with hydrogen 7 is working on a prototype. Ethanol: This is a renewable fuel made from plant materials, commonly mixed with gasoline. In America, Ford F-150 Flex-Fuel and Chevrolet Silverado Flex-Fuel are utilizing this technology. Biodiesel and renewable diesel: Derived from vegetable oils, animal fats, or recycled grease, these fuel types can be used in diesel engines. Compressed Natural Gas (CNG): Perhaps the most famous alternative for cabbies in Delhi, CNG is in popular demand. Technically it is used in specially modified internal combustion engines, primarily for lower emissions. Propane (Liquefied Petroleum Gas, LPG): A byproduct of natural gas processing and crude oil refining, used in internal combustion engines. As technology continues to advance, these AFVs are becoming more accessible and affordable, making them a promising option for sustainable transportation. If you are an eco-conscious buyer in today’s auto market, bear in mind that there are options beyond EVs as well. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/mercedes-expands-bev-range-rolls-out-second-locally-produced-model-in-india/articleshow/113388002.cms" data-type="tilCustomLink" target="_blank">Mercedes expands BEV range; rolls out second locally produced model in India</a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-adoption-in-india-rising-13-share-expected-by-2026-27-jefferies/articleshow/113361787.cms" data-type="tilCustomLink" target="_blank">Electric two-wheeler adoption in India rising, 13% share expected by 2026-27: Jefferies</a>

EVs are not the only options for alternative fuel — make way for hydrogen and bio-fuel

<ul class="summary-list"><li><keyword id="19906203" type="General" weightage="20" keywordseo="Trump" source="keywords">Trump</keyword> said at a rally on Saturday that he supports <keyword id="19895203" type="General" weightage="100" keywordseo="electric-vehicles" source="keywords">electric vehicles</keyword> because <keyword id="19903807" type="General" weightage="20" keywordseo="Elon-Musk" source="keywords">Elon Musk</keyword> endorsed him.</li><li>However, he also criticized <keyword id="20415012" type="General" weightage="20" keywordseo="EV-infrastructure" source="keywords">EV infrastructure</keyword> and <keyword id="22767001" type="General" weightage="20" keywordseo="Bidens-EV-mandates" source="keywords">Biden's EV mandates</keyword>.</li></ul>Former President <keyword id="19918985" type="General" weightage="20" keywordseo="donald-trump" source="keywords">Donald Trump</keyword> said he had "no choice" but to support electric vehicles after <a target="_blank" class="" href="https://www.businessinsider.com/tesla-ceo-elon-musk">Tesla CEO Elon Musk</a> "endorsed" him. Trump then went on to criticize the EV industry at length. Musk has long been a champion of the pivot to electric vehicles. His company, <keyword id="19895433" type="General" weightage="20" keywordseo="Tesla" source="keywords" meta.keywordsubtype="org" meta.entityname="Tesla" meta.hostid="261" meta.entityid="Tesla">Tesla</keyword>, has largely led the way in developing the industry, which for a time made Musk a darling of the <keyword id="22767002" type="General" weightage="20" keywordseo="climate-conscious" source="keywords">climate-conscious</keyword> left. But Musk has more recently embraced conservative politics, especially the issue of free speech. Musk bought Twitter in 2022, rebranded it to X, and has dismantled many of the checks and balances meant to limit hateful speech and misinformation on the platform. Musk has publicly supported Trump since <a target="_blank" class="" href="https://www.businessinsider.com/trump-not-going-to-become-nice-shooting-didnt-change-him-2024-7">the assassination attempt</a> last month. Musk, however, has denied reports that he pledged <a target="_blank" class="" href="https://www.businessinsider.com/musk-trump-donation-campaign-finance-reform-2024-7">a $45 million donation</a> to a pro-Trump super PAC. At a rally in Georgia on Saturday, Trump told the crowd he supported electric cars but thought people should still have access to <keyword id="20758116" type="General" weightage="20" keywordseo="gas-vehicles" source="keywords">gas vehicles</keyword>. "I'm for electric cars. I have to be because, you know, Elon endorsed me very strongly," Trump told the crowd. "So, I have no choice." He then clarified that he only supports them as a "small slice" of the larger auto industry. "You want to have gas-propelled cars. You want to have hybrids. You want to have every kind of car," he said. Trump has repeatedly attacked the Biden administration's electric vehicle regulations, including its <a target="_blank" class="" href="https://www.businessinsider.com/biden-is-probably-going-to-ease-strict-ev-requirements-2024-2">plan to grow electric vehicle sales</a> to half of all new vehicle sales by 2030. While speaking at a bitcoin conference in July, Trump gave similar remarks when referencing Biden's regulations, which also make it more <a target="_blank" href="https://www.businessinsider.com/why-car-dealers-worried-about-biden-ev-mandate-letter-2023-11">difficult for gas-powered cars to meet EPA standards</a>. "Not everybody has to have an electric car. I told him that," Trump said, referencing Musk. "So we're going to get rid of that mandate if you don't mind. Some people want gasoline-propelled cars, some people want a hybrid, and some people like an electric car." Trump has also repeatedly criticized the cost of installing EV chargers nationwide. He erroneously claimed the government built eight chargers in the Midwest for $9 billion. He's given wildly inconsistent estimates for how much it would cost to install EV chargers nationwide. At the bitcoin conference, he said it would cost $12 trillion. At a North Carolina rally on July 24, he said it would cost $5 trillion. And at the Atlanta rally on Saturday, he said it would cost $9 trillion. The bipartisan Infrastructure Investment and Jobs Act of 2021 included $7.5 billion to help pay for thousands of electric vehicle chargers around the country, <a target="_blank" class="" href="https://www.eenews.net/articles/trump-targets-anemic-biden-effort-to-build-ev-chargers/">Politico reported</a>. The White House's infrastructure tracking website shows that only 15 charging stations have been installed so far. An analysis published by research firm Atlas Public Policy shows that each station received about $770,000 in federal funding, Politico reported. Correction: August 5, 2024 — An earlier version of this story misstated when Trump's Atlanta and North Carolina rallies were. His Atlanta rally was on Saturday, not Sunday, and his North Carolina rally was on July 24, not Thursday. It also misstated when he gave different estimates for the cost of installing EV chargers nationwide. He said it would cost $5 trillion at the North Carolina rally and $9 trillion at the Atlanta rally, not the other way around.

Trump says he has 'no choice' but to support electric vehicles because Elon Musk 'endorsed me very strongly'

<ul><li><keyword id="19897349" type="General" weightage="20" keywordseo="ola-electric" source="keywords">Ola Electric</keyword> has come under the scanner after a surge in customer complaints.</li><li>The company’s sales and market share have also been declining.</li><li>The government has reportedly issued a show cause notice to <keyword id="19945904" type="General" weightage="20" keywordseo="ola" source="keywords">Ola</keyword> Electric.</li></ul>Ola Electric was once considered the most promising electric automaker in the country, from dominating the electric two-wheeler with its electric scooters to introducing multiple electric bikes simultaneously. The company had many things going for it, hosting a vast distribution network via its cab-hailing platform and a conducive policy environment that incentivised the growth of EVs. But within a few years of its launch, somewhere something seems to have gone awfully wrong! The Bhavish Aggarwal-led company has recently been in the news for all the wrong reasons, from the company’s founder engaging in an online spat with comedian Kunal Kamra to customers taking to social media to complain about their scooters. But that’s not where the company’s problems end. One of the seemingly direct effects of the rise in customer complaints has been subdued sales in recent months. Besides this, the company has also come under the government’s scanner. <h2>Surge in complaints</h2>According to a recent report, Ola Electric recently formed a new service team to deal with the surge in customer complaints. As per the report, the electric two-wheeler maker is receiving as many as 80,000 customer complaints per month, overwhelming its service infrastructure. <div type="Article" hostid="261" msid="113699039" title="Ola Electric plans to expand sales and service infra to 10,000 outlets by 2025-end" mstype="2" mssubtype="0"></div> The high number of complaints reportedly resulted in high wait times for customers, resulting in growing customer dissatisfaction, which is regularly played out on social media. <h2>Declining market share</h2>It’s not just social media, the company’s market share has also been on the decline along with its sales. From nearly a 50% market share in April 2024, the company’s market share declined to 27% in September 2024. While the company still leads the Indian electric two-wheeler market, legacy automakers like Bajaj Auto and TVS Motor are closing in. While Bajaj Auto reported a 21.5% market share in September 2024, TVS Motor reported a 20.3% market share. From occupying nearly half of the market, Ola Electric has now been restricted to a quarter and by the looks of it, the company may not even be able to hold the top position by the end of the year if the current trend continues. <h2>Ola Electric comes under the government’s scrutiny</h2>Amid rising complaints, Ola Electric has also come under the government’s scanner. The Central Consumer Protection Authority (CCPA), India’s consumer watchdog issues a show-cause notice to Ola Electric over potential violations of the Consumer Protection Act (2019). According to a report, The National Consumer Helpline (NCH) run by the Department of Consumer Affairs has received 10,644 complaints against Ola Electric since September 2023. When the NCH approached Ola Electric, the body was reportedly met with apathy by the company. Out of the 10,644 complaints, 3,389 relate to delays in providing service to the vehicles, 1,899 are around delivery delays for new vehicles and 1,459 customers have complained about services that were promised but not provided. According to a report by CNBCTV-18, CCPA chairman Nidhi Khare has said the complaints against Ola Electric have been classified in 10 categories, including “delayed and unsatisfactory service”, “refusal or delay in warranty services”, “recurrent defects despite services”, “unprofessional conduct and complaint closure” and more. <h2>A customer’s harrowing experience</h2>Business Insider India spoke to Mr Rakesh (name changed), an Ola Electric customer who has been facing issues with his Ola S1 Pro. The customer paid for the vehicle in August 2023 and the scooter was delivered in January 2024, after a five-month wait. The first issue that the customer faced was that despite the scooter only being delivered in January 2024, the scooter’s warranty began in August 2023, depriving the customer of five months of warranty. Not just this, the vehicle’s insurance began in November 2023, two months prior to the delivery. While this is a concerning issue, this was the least of the customer’s problems. <div type="image" title="1" msid="114120836" hostid="261" sizebytes="68242" caption="&amp;lt;p&amp;gt;The Ola S1 Pro being towed&amp;lt;/p&amp;gt;"></div> As per the customer, his scooter repeatedly faced issues, not even turning on at times. Rakesh said that he was forced to restart his vehicle four to five times a day just to be able to use it and if this didn’t work, he was forced to remove and re-insert a plug placed under the seat. However, even this failed several times and in less than eight months of usage, Rakesh was forced to get his vehicle towed to the service centre multiple times with the help of roadside assistance (RSA). He claimed that he faced the issue nearly 30 times so far. He further said that the scooter has spent the majority of its time at the service centre, which is extremely disappointing after spending over ₹1.6 lakh on a vehicle. <div type="image" title="2" msid="114120876" hostid="261" sizebytes="65944" caption="&amp;lt;p&amp;gt;The Ola S1 Pro being towed again&amp;lt;/p&amp;gt;"></div> At the service centre, the service executives were unable to find the exact cause of the issue. To try and solve the issue, the scooter’s control unit was reportedly changed twice and there were multiple software updates. Rakesh has had a disappointing experience so far, especially with the service executives being unable to diagnose the issue and him having to repeatedly visit the service centre. <h2>A wake-up call?</h2>Many users on the internet have labelled Ola vehicles as subpar and not fit for this competitive market that’s growing rapidly. The initial marketing was good, helping the company conquer almost half of the market share. But a bad quality product can dent the reputation of a company severely in the long run. This must serve as a wake-up call for <keyword id="1543567" type="General" weightage="20" keywordseo="Bhavish-Aggarwal" source="Orion">Bhavish Aggarwal</keyword> and everyone at Ola Electric and the consumers hope that the company not only works on improving its quality control but also overhauls its service infrastructure to more efficiently diagnose and solve issues with their vehicles. During an interaction early in the company’s journey, Aggarwal once said that he hopes to sell around 1.5 lakh to 2 lakh scooters a month, which is close to what one of the popular petrol scooters manages to do each month. While this dream looked achievable at one time, the journey now seems quite tedious. 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/auto/news/pm-e-drive-scheme-with-10900-crore-outlay-announced-for-electric-vehicles/articleshow/113816837.cms">PM E-DRIVE scheme with ₹10,900 crore outlay announced for electric vehicles</a>

The Ola Electric Saga: Are surge in complaints and declining market share a wake-up call for Bhavish Aggarwal?

<ul><li>The government has announced a new scheme aimed at increasing investment in the EV market.</li><li>The scheme is aimed at increasing domestic EV manufacturing by offering a short-term reduction in import duty.</li><li>This is expected to pave the way for <keyword id="6355315" type="General" weightage="20" keywordseo="elon-musk" source="Orion">Elon Musk</keyword>’s <keyword id="107096" type="General" weightage="20" keywordseo="tesla" source="Orion">Tesla</keyword> in India.</li></ul>In what may come as a big boost to Tesla’s plans to enter India, the Indian government has announced a new scheme aimed at boosting domestic manufacturing of electric vehicles. The Indian government aims to achieve the dual goal of promoting less-polluting EVs as well as ensuring ‘make-in-India’ through the upcoming policy changes. The lower import taxes on certain electric vehicles are contingent on companies committing an investment of at least $500 million in setting up manufacturing facilities within three years. <cmsannotation type="cmsannotation" annotationid="Here’s what the new policy entails" comment="subhead" text="Here’s what the new policy entails">Here’s what the new policy entails</cmsannotation> As part of this policy, companies will be able to import a limited number of electric vehicles in India. These companies will have to invest a minimum of $500 million to establish local manufacturing facilities within three years. Additionally, at least 25% of the components will have to be sourced domestically within three years and at least 50% within five years. Companies that follow this will be allowed to import 8,000 completely built-up (CBU) electric cars per year at an import duty of 15% on cars costing above $35,000 (approx. ₹28.99 lakh). At present, India levies a tax of 70% to 100% on imported cars, based on their value. This means that the import duty has been reduced by up to 85% for companies under this scheme. The investment commitment made by companies will be backed by a bank guarantee which will be invoked if the company fails to follow the policy guidelines. <cmsannotation type="cmsannotation" annotationid="Would the new policy pave the way for Tesla’s entry?" comment="subhead" text="Would the new policy pave the way for Tesla’s entry?">Would the new policy pave the way for Tesla’s entry?</cmsannotation> Many industry experts believe that the new policy could pave the way for the entry of Tesla into the country. Musk has been at loggerheads with the India government over the imposition of import duties on electric vehicles. Four models of Tesla, including the Tesla Model 3 and Model Y were reportedly<a href="https://www.businessinsider.in/business/auto/news/tesla-inches-closer-to-its-india-debut-as-four-models-approved/articleshow/85792404.cms"> approved</a> in India in 2021 but a 2022 report revealed that the company’s India debut was put on<a href="https://www.businessinsider.in/business/auto/news/elon-musk-dashes-hopes-of-tesla-fans-in-india-entry-plan-put-on-hold/articleshow/91543214.cms"> hold</a> as Musk was not able to obtain lower tariffs for the company. It’s not just Tesla, other electric vehicle makers will also benefit from this policy. Vietnamese EV maker VinFast recently announced its plans to invest $2 billion in India and has started constructing its first factory in Tamil Nadu. <cmsannotation type="cmsannotation" annotationid="Impact on existing companies" comment="subhead" text="Impact on existing companies">Impact on existing companies</cmsannotation> The move could come as a hit to companies like Tata Motors and Mahindra and Mahindra, which have been reportedly lobbying officials to not lower import taxes on electric vehicles to protect the domestic industry. Tata Motors is India’s biggest electric car maker and enjoys a market share of over 70%. It’s not just these companies, other existing EV makers are also expected to be impacted by Tesla’s entry. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/retail-auto-sales-grow-by-13-in-february-but-elevated-inventory-levels-a-concern/articleshow/108289901.cms">Retail auto sales grow by 13% in February, but elevated inventory levels a concern</a> <a href="https://www.businessinsider.in/business/auto/news/byd-seal-electric-sedan-launched-in-india-starting-at-41-lakh/articleshow/108234000.cms">BYD Seal electric sedan launched in India starting at ₹41 lakh</a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-grow-by-24-in-february-2024-ola-electric-leads-with-over-40-market-share/articleshow/108227956.cms">Electric two-wheeler sales grow by 24% in February 2024, Ola Electric leads with over 40% market share</a>

New EV Policy: Elon Musk’s Tesla may soon enter India as import taxes slashed for electric vehicles

<ul><li>The Indian EV (electric vehicle) industry reported nearly a 100% increase in sales in 2023.</li><li>The sale of EVs is expected to grow by 66% in 2024 and double its share when it comes to the overall passenger vehicle (PV) segment.</li><li>EVs are expected to account for nearly a third of the overall PV shipments by 2030.</li></ul>Indian EV makers had a great year in 2023, nearly doubling their sales compared to 2022, despite the overall passenger segment reporting only a 10% increase in sales. According to a report by Counterpoint Research, Indian <keyword id="19914921" type="General" weightage="20" keywordseo="EV-sales" source="keywords">EV sales</keyword> nearly doubled in 2023 and now account for 2% of the overall passenger vehicle (PV) sales. The reason for the increase in shipments includes government initiatives such as the FAME subsidy (Faster Adoption and Manufacturing of <keyword id="19895203" type="General" weightage="20" keywordseo="electric-vehicles" source="keywords">Electric Vehicles</keyword>), infrastructure development, concerns over climate change and more. <cmsannotation type="cmsannotation" annotationid="Tata Motors leads the EV race" comment="subhead" text="Tata Motors leads the EV race"><keyword id="19906967" type="General" weightage="20" keywordseo="Tata-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Motors" meta.hostid="261" meta.entityid="Tata Motors">Tata Motors</keyword> leads the EV race</cmsannotation> Tata Motors leads the electric vehicles race in India, accounting for 70% of the electric cars sold in India in 2023. The company reported a year-on-year growth of 58% in 2023, but its share declined from 87% in 2022 to 70% in 2023. <keyword id="19993198" type="General" weightage="20" keywordseo="MG-Motor" source="keywords" meta.keywordsubtype="org" meta.entityname="MG Motor" meta.hostid="261" meta.entityid="MG Motor">MG Motor</keyword>, which had a share of 9% in India in 2022 reported a growth of 186% and accounted for 14% of the sales in 2023. Mahindra &amp; Mahindra has emerged as the fastest growing brand in 2023, reporting a 2476% growth and accounting for 7% of the market share. Mahindra sells the XUV400, the only electric car in the country. BYD also reported excellent growth in the Indian electric vehicles industry, recording a growth of 1538%. <cmsannotation type="cmsannotation" annotationid="EV sales to double in 2024" comment="subhead" text="EV sales to double in 2024">EV sales to double in 2024</cmsannotation> According to Counterpoint, the share of electric vehicles in the overall passenger vehicles segment will double from 2% to 4% in 2024. EV sales in India are expected to grow by 66% in 2024. According to the report, the share of electric vehicles is expected to rise from the present 2% to 29% by 2030. “The EV ecosystem is in a fairly nascent stage. As the infrastructure and consumer traction develops, we will see the entry of newer players such as Tesla and fast-growing Chinese brands like Xiaomi, which will catalyze innovation and competition in the world’s fourth-largest PV market,” said Neil Shah, research vice president, Counterpoint Research. <cmsannotation type="cmsannotation" annotationid="India’s new EV policy to give a boost" comment="subhead" text="India’s new EV policy to give a boost">India’s new EV policy to give a boost</cmsannotation> The Indian government’s recent<a href="https://www.businessinsider.in/business/auto/news/new-ev-policy-elon-musks-tesla-may-soon-enter-india-as-import-taxes-slashed-for-electric-vehicles/articleshow/108527306.cms"> EV policy</a> is expected to boost the EV industry, making it easier for international companies to enter the market. As part of the policy, the companies will be allowed to import 8,000 completely built-up (CBU) electric cars per year at an import duty of 15% on cars costing above $35,000 (approx. ₹28.99 lakh). At present, India levies a tax of 70% to 100% on imported cars, based on their value. This means that the import duty has been reduced by up to 85% for companies under this scheme. Tesla is expected to soon enter the Indian market, with the company reportedly searching for appropriate places for its factory in the country. Vietnamese EV maker VinFast recently announced its plans to invest $2 billion in India and has started constructing its first factory in Tamil Nadu. “Government initiatives such as the PLI scheme for Advanced Chemistry Cells (ACC) and the recent reduction in import duties on EVs under $35,000 to 15% are game changers. All this not only opens doors for Tesla but also signals India’s readiness to welcome significant investments and foster a new ecosystem for EVs and their component suppliers,” said Liz Lee, associate director, Counterpoint Research. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/electric-scooters-get-a-price-hike-of-up-to-16000-as-fame-subsidy-ends/slidelist/109136771.cms">Electric scooters get a price hike of up to ₹16,000 as FAME subsidy ends</a> <a href="https://www.businessinsider.in/business/auto/news/ather-rizta-electric-scooter-launched-in-india-starting-at-rs-109999/articleshow/109128809.cms">Ather Rizta launched in India as the Hero MotoCorp-backed EV forays into the family scooter segment</a> <a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-march-2024/slidelist/109066534.cms">Top selling cars in India in March 2024 – Tata Punch leads the pack</a>

EV sales expected to grow by over 65% in 2024, double its overall market share

<ul><li>EV penetration is set to reach 6-8% by FY27 compared to a mere 1.3% in FY23 as per a CRISIL report.</li><li>The total cost of acquisition (<keyword id="21010615" type="General" weightage="20" keywordseo="tca" source="keywords">TCA</keyword>) is lower for EVs but the total cost of ownership (<keyword id="19896738" type="General" weightage="20" keywordseo="tco" source="keywords">TCO</keyword>) is higher as compared to other variants, says the report.</li><li>For e-cabs, the TCA is higher than that of TCO but charging infra and other factors play a crucial role in adoption.</li></ul> <keyword id="19895203" type="General" weightage="20" keywordseo="electric-vehicles" source="keywords">Electric Vehicles</keyword> (EVs) are here to take over the auto market. In the US, this growing trend is close to reaching double digits in terms of penetration among personal vehicles. Even in India, the penetration is growing as domestic manufacturers increasingly gravitate towards the EV segment. In addition to Tata Motors’ EV versions of Nexon, Tigor and <keyword id="20075324" type="General" weightage="20" keywordseo="tiago-ev" source="keywords">Tiago EV</keyword> and MG’s ZS — many other automakers are entering the EV lane too. Foremost among them is <keyword id="19909974" type="General" weightage="20" keywordseo="maruti-suzuki" source="keywords">Maruti Suzuki</keyword>, which is planning to launch its first EV by 2025, and Renault’s electric Kwid, Zoe and KZE are also expected to come to India soon. MG Motor India already has a couple of fairly successful EV models and plans to introduce many more soon. For foreign brands like Tesla, policy roadblocks on imports, proved to be a limiting factor so far. However, the <a href="https://www.businessinsider.in/business/auto/news/new-ev-policy-elon-musks-tesla-may-soon-enter-india-as-import-taxes-slashed-for-electric-vehicles/articleshow/108527306.cms">recent changes in the Indian policy landscape</a> lower the import taxes if the companies commit to manufacturing in India in the subsequent years. Such policy incentives are likely to attract even more global EV brands to India. But what do these new models of new-age tech cars mean to car buyers sitting on the fence? As per a recent analysis by CRISIL, the total cost of ownership (TCO) or total cost of ownership of passenger vehicles could work in favour of EVs in the next three years for Indian buyers. So, how does the math work for prospective owners? TCA is lower but the TCO may remain higher TCO includes the purchase price of a particular asset, plus operating costs over the asset’s life span. As of FY22, the TCO of EVs was 20-30% higher than that of all three variants which is petrol, diesel and CNG. “In FY27, we expect the economics to again remain the same. However, despite not-so-favourable cost economics, higher adoption has been witnessed initially by environment-conscious buyers,” said CRISIL. The latest analysis agrees with the <a href="https://journals.sagepub.com/doi/10.1177/0361198120947089">earlier research</a> from <keyword id="20691574" type="General" weightage="20" keywordseo="world-resources-institute-india" source="keywords">World Resources Institute India</keyword> (<keyword id="20336071" type="General" weightage="20" keywordseo="wri-india" source="keywords">WRI India</keyword>) on TCO in India. The study highlighted that the TCO for EVs for personal use remains higher and may require additional financial incentives to be economically viable. The total cost of acquisition (TCA) on the other hand is lower for EVs as compared to other variants. TCA of an EV is 24% lower than that of a diesel variant, and 4% lower for a petrol variant. The TCA for an EV and a CNG variant is the same. This is due to lower registration charges for EVs amid high loan-to-value (LTV) ratios. Overall, the report expects EV penetration in the passenger vehicle segment to reach 6-8% by FY27 from a mere 1.3% in FY23. Meter down: How do EVs fare as cabs? Unlike in the PV segment, the cost dynamics are reversed for cab aggregators who want to drive in the EV lane – where even though the TCA is higher, TCO remains lower. In FY22, the TCO of EVs for cab aggregators was lower than that of petrol and diesel vehicles by around 29% and around 19%, respectively. However, the TCO of EVs is still higher than that of a CNG variant by around 13% even for commercial use. This is due to the higher running of a commercial passenger vehicle and high fossil fuel prices. The FAME-II subsidy provided by the Government of India incentivises the adoption of EVs for commercial use, including 2-wheelers, 3-wheelers, and buses for public transport. However, the TCA of an EV for a cab aggregator is still around 17% higher than that of a diesel vehicle, 26% higher than a petrol vehicle, and around 16% higher than a CNG variant. “In FY27, we expect the TCA of EVs to be lower than that of diesel and petrol variants, but higher than that of a CNG variant,” says CRISIL. The report expects the cab aggregator segment to lead the drive towards EVs, resulting in a 4% EV penetration by FY26. The taxi segment accounts for 10-15% of sales within passenger cars. However, a few challenges continue to linger, limiting the wider adoption of e-cabs on the road. A limited number of charging stations range anxiety and lack of large original equipment manufacturer (OEM) presence are hindering EV adoption. EVs used for personal use, however, are mostly charged at home, and charging infrastructure does not play a very high role there. “The lower battery cost (due to expected localisation led by the phased manufacturing programme or PMP) is expected to offset the lack of FAME subsidy and will help maintain the competitiveness of EVs against diesel and CNG variants for cab aggregators in the long run,” says CRISIL.

Electrifying auto market: Planning to buy an EV, compare their price with petrol, diesel and CNG variants

<ul class="summary-list"><li>Kamala Harris selected Minnesota Gov. Tim Walz as her running mate, seen as a win for progressives.</li><li>Walz's policies include universal school meals, labor protections, and poverty reduction.</li></ul>Vice President Kamala Harris' running mate Minnesota Gov. <a target="_blank" class="" href="https://www.businessinsider.com/kamala-harris-names-tim-walz-vice-president-pick-minnesota-2024-7">Tim Walz</a>, seen as a <a target="_blank" href="https://www.businessinsider.com/kamala-harris-tim-walz-progressives-record-selection-election-analysis-2024-8">win for progressives</a>, may be exactly who she needed to get her economic policies off the ground.As governor, Walz has enacted policies such as <a target="_blank" class="" href="https://www.businessinsider.com/tim-walz-vp-jokes-trump-attacks-free-school-lunch-policies-2024-8">universal school meals</a>, gun safety provisions, stronger labor protections, and poverty reduction measures. Walz has also advocated for rural economic growth and has passed legislation supporting LGBTQ+ and abortion rights.The Minnesota Democrat had been relatively unknown nationally compared to other <a target="_blank" class="" href="https://www.businessinsider.com/kamala-harris-potential-vp-picks-change-schedules-veepstakes-nears-end-2024-8">VP finalists</a> such as Pennsylvania Gov. Josh Shapiro and Arizona Sen. Mark Kelly. Leading conservatives have <a target="_blank" class="" href="https://www.nytimes.com/2024/08/06/us/tim-walz-george-floyd-criticism.html">criticized Walz</a> for his handling of the state's protests after the murder of George Floyd. Walz has shot back at leading Republicans and has led the Democratic trend calling former President Donald Trump and his running mate, Sen. JD Vance of Ohio, "<a target="_blank" class="" href="https://www.usatoday.com/story/news/politics/elections/2024/08/06/vice-president-pick-tim-walz-gop-weird/74685719007/">weird</a>."Here are some of <a target="_blank" class="" href="https://www.businessinsider.com/tim-walz-kamala-harris-israel-gaza-pro-palestinian-protests-2024-8">Walz</a>'s economic policies from his time as governor.<h2 id="a81358c6-f7a0-441b-8831-107af470cfef">Universal free school meals</h2>In March 2023, Walz, a former teacher, signed into law a universal free school lunch bill giving students a free breakfast and lunch each day, regardless of income. The bill filled the gap in funding from the National School Lunch Program, which didn't cover the full cost of meals.In addition, the program axed additional paperwork that parents and administrators needed to sign to secure free or reduced-priced meals for students. The program, which costs Minnesota <a target="_blank" href="https://minnesotareformer.com/2024/01/10/walz-celebrates-first-months-of-universal-free-school-meals/">nearly $300 million</a> annually, increased the number of breakfasts served by 30% and lunches by 11% between September 2022 and September 2023.<h2 id="e5a5747c-31c6-4194-bba9-169ee7dee02b">Job creation</h2>Walz enacted the <a target="_blank" href="https://mn.gov/governor/assets/FINAL%20Local%20Jobs%20and%20Projects_fact%20sheet%20(002)_tcm1055-516777.pdf">Local Jobs and Projects Plan</a>, which gave $1.9 billion to support construction and renovation projects. Over a third of the funds went toward asset preservation, such as repairing university buildings and improving roads and bridges. More than $450 million of the money went toward affordable housing projects.Walz's administration also created the <a target="_blank" class="" href="https://mn.gov/deed/economicexpansion/">Governor's Council on Economic Expansion</a>, pulling in 15 business leaders across the state to help grow the state's economy.<h2 id="65708ff4-98aa-4099-8b3e-fae0b66fad6b">Tax cuts and rebates</h2>Last year, Walz enacted a state tax cut through the<a target="_blank" class="" href="https://mn.gov/governor/accomplishments/one-mn-budget.jsp"> One Minnesota Budget</a>, which also increased funding for public education. Nearly 1.4 million middle-class Minnesotans had their taxes cut, and the bill also provided tax relief for people and businesses impacted by the pandemic.The Walz Administration also provided tax rebates for the working class, colloquially called "<a target="_blank" href="https://www.kiplinger.com/taxes/irs-will-tax-walz-check-minnesota-rebates#:~:text=These%20rebates%2C%20commonly%20known%20as,to%20%241%2C750%20per%20child%20dependent.)">Walz checks</a>," which amounted to $1,300 in some cases. In 2024, the IRS started taxing the rebates.<h2 id="3d723ffb-677a-4cd4-bd1c-f9025972cbf3">Cannabis legalization</h2>In May 2023, Walz signed a bill <a target="_blank" class="" href="https://mn.gov/governor/newsroom/press-releases/?id=1055-579413">legalizing cannabis</a> use for adults across the state, creating the Office of Cannabis Management to regulate cannabis and develop regulations for the cannabis sector. Minnesota became the 23rd state to legalize cannabis use."We've known for too long that prohibiting the use of cannabis hasn't worked. By legalizing adult-use cannabis, we're expanding our economy, creating jobs, and regulating the industry to keep Minnesotans safe," <a target="_blank" href="https://mn.gov/governor/newsroom/press-releases/?id=1055-579413">Walz said</a> at the time.<h2 id="e2a1ec16-3a9c-4a7d-bd42-f68a525de723">Increased labor protections</h2>In 2023, Walz signed into effect new laws expanding worker protections. The laws state that for every 30 hours employees work, they will earn an hour of sick time. Launching in 2026, the state will implement <a target="_blank" href="https://mn.gov/deed/paidleave/">paid family and medical leave</a>. The laws further expanded the Women's Economic Security Act, giving more accommodations to pregnant employees and new parents and guaranteeing up to 12 weeks of unpaid parental leave.The laws also provided greater safety provisions for workers, including at warehouse distribution centers, meat and poultry processing facilities, nursing homes, and hospitals. The administration also banned non-compete agreements allowing workers to seek better working conditions.The United Auto Workers union was quick to support Walz on X. "Tim Walz doesn't just talk the talk, he walks the walk," the UAW wrote. "From delivering for working-class Americans to standing with the UAW on our picket line last year, we know which side he's on."<h2 id="a1d2fc7e-0e5a-4c90-b69c-2e0f1bdc32fd">Clean energy and the environment</h2>Walz <a target="_blank" class="" href="https://minnesotareformer.com/briefs/gov-walz-signs-bill-mandating-100-carbon-free-energy-by-2040/">signed legislation</a> last year requiring the state to generate 100% of its electricity from carbon-free sources such as solar power or wind by 2040. Walz also created the Governor's Biofuels Council to transition the state toward clean energy.The state passed over 40 climate initiatives last year, including improving electric vehicle charging infrastructure, building energy-efficient housing, and streamlining permits for renewable energy projects. Another initiative funds apprenticeship programs for state residents to get jobs in the clean energy sector.Minnesota became the second state to phase out nonessential <a target="_blank" class="" href="https://www.pca.state.mn.us/pfas-in-minnesota">PFAS</a>, or per- and polyfluoroalkyl substances known as "forever chemicals" because they can't be easily broken down.<h2 id="86b557e6-fc30-4a61-ab92-e4e79f9f654a">Education and support for parents</h2>Walz has devoted much of his term to improving funding and support for the state's young residents. Walz budgeted an over <a target="_blank" class="" href="https://www.house.mn.gov/sessiondaily/Story/18009">$2.2 billion increase</a> — or over 10% — in funding for K-12 schools.Minnesota has also <a target="_blank" href="https://www.ohe.state.mn.us/mPg.cfm?pageID=2573">championed free college tuition</a> for low-income families earning less than $80,000 a year, which the state predicts will impact between 15,000 and 20,000 students. The budget also increased eligibility for the state's student grant and provided more funding to Indigenous students and universities.Walz <a target="_blank" href="https://mn.gov/governor/newsroom/press-releases/?id=1055-639617">announced</a> last week that the state's child tax credit has helped over 215,000 families this year, amounting to about $1,244 per child.

Where Kamala Harris' VP pick Tim Walz stands on economic policies

<ul class="summary-list"><li>Trump sparked outrage during his interview with the NABJ, while Harris' convo went more smoothly.</li><li>Neither candidate detailed how they'll actually enact their economic policy, though.</li></ul>When former President Donald Trump spoke to the National Association of Black Journalists in July, he sparked outrage and said his opponent<a target="_blank" href="https://www.businessinsider.com/trump-kamala-harris-turned-black-nabj-interview-2024-7"> "happened to turn Black."</a>When Vice President Kamala Harris spoke to the same organization Tuesday afternoon, she responded to questions about the economy, gun control, and a recent apparent assassination attempt without making any waves.Despite the differences in their interviews and how they were received, neither candidate clarified their precise policy proposals, leaving voters without crucial answers fewer than 50 days before the election. In particular, their responses to questions about economic plans were hazy, all as the <a target="_blank" class="" href="https://www.businessinsider.com/what-us-economy-would-look-like-with-trump-biden-presidency-2024-5">economy remains a key issue for many voters</a>.Between <a target="_blank" href="https://www.businessinsider.com/trump-nabj-convention-tense-kamala-harris-jd-vance-2024-7">questioning Harris' racial identity and whether she passed her bar exam </a>—she did — Trump fielded questions about how he would support Black voters economically. He started off by bashing inflation and saying it's "destroying the Black community." When pressed on his exact plans, Trump redirected the conversation to President Joe Biden's debate performance, immigration policy, and plans for electric vehicles.Trump later said that immigrants are taking "Black jobs," which he defined as "anybody that has a job" before again pivoting to a discussion of the border.When talking to Harris, moderators opened their conversation by asking whether voters fare better today than they did four years ago and she responded, in part, by touting her <a target="_blank" class="" href="https://www.businessinsider.com/what-you-need-to-know-about-kamala-harris-opportunity-economy-2024-9">"Opportunity Economy."</a>"Where all people have access to the resources to compete, to apply their incredible work ethic, their ambition, their aspirations, and their dreams. And not just get by but get ahead. I can talk in more detail about it," she said.Harris referenced policies listed on her website — in particular, she talked about the housing shortage, childcare costs, and elder care, referencing policies detailed on her website. When moderators asked how her economic policies will "materially change" Black men's lives, Harris again went back to policies she's already outlined and her actions as vice president. She highlighted helping Black entrepreneurs access capital, build generational wealth through homeownership, and tackle medical debt."Part of the work that I have done and will continue to do is identify, speak truth about those obstacles, and address them," she said. The conversation then moved on to the war in Gaza, without Harris providing details on how she will enact her plans, many of which would need Congress' support.A similar dynamic played out <a target="_blank" class="" href="https://www.businessinsider.com/trump-harris-economy-tech-debate-tariffs-taxes-2024-9">during the debate</a> — Trump spewed racist rhetoric about Haitian migrants in Ohio, while Harris remained on message. Many agreed that Harris won the debate, and polls show it gave her a bump, but neither candidate clarified how exactly they'll execute plans to help Americans economically.

You Searched For "electric vehicle policy" and got 11 results

Skoda plans to launch an updated electric vehicle in India in 2025

BI India Bureau

Facing vehicle damage during heavy rains? Here's how motor insurance can come to your rescue

Ira Alok Puranik

India may boost FY25 capex by 8-10% amid surging revenues and record RBI surplus, says Market Kaleidoscope report

ANI

EVs are not the only options for alternative fuel — make way for hydrogen and bio-fuel

Dhruv Mohan

Trump says he has 'no choice' but to support electric vehicles because Elon Musk 'endorsed me very strongly'

Kenneth Niemeyer

The Ola Electric Saga: Are surge in complaints and declining market share a wake-up call for Bhavish Aggarwal?

Sourabh Jain

New EV Policy: Elon Musk’s Tesla may soon enter India as import taxes slashed for electric vehicles

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